Skip to main content

Greenville Business Magazine

The Business Narrative: $260 Million Investment

Oct 26, 2022 01:27PM ● By David Dykes

Bosch Expanding Dorchester County Operations With Launch of Electric Motor Production

Bosch, a leading global supplier of technology and services, announced the launch of electric motor production at its operation in Dorchester County.

The company also announced a $260 million investment expected to create 350 jobs associated with the new production line.

With operations in Dorchester County since 1974, Bosch is expanding its mobility-related production with new electrification products including rotor, stator, and final-assembled electric motors.

An electric motor converts electrical energy into mechanical energy to provide propulsion in electric vehicles. 

Located at 8101 Dorchester Road in North Charleston, Bosch will produce electric motors in a building that formerly manufactured diesel components.

The company will also expand the building by nearly 75,000 square feet to accommodate for future additional production of electric motors.

Electric motor production at the Dorchester County operation is underway, and the expansion is expected to be complete by 2025.

The company is re-skilling and up-skilling current Bosch associates as part of the transition to support electrification. Those interested in new opportunities with the Bosch team should visit the company’s careers page.

The state’s Coordinating Council for Economic Development approved job development credits related to the project.

“We have grown our electrification business globally and here in the North American region. We’ve invested more than $6 billion in electromobility development, and in 2021, our global orders for electromobility surpassed $10 billion for the first time. Local production helps to advance our customers’ regional electrification strategies and further supports the market demand for electrification,” said Bosch North America President Mike Mansuetti.

In August, Bosch also announced an expansion at its Anderson County facility to include the production of fuel cell stacks that will drive hydrogen-powered Class 8 trucks. 

Treeline Acquires Land Parcel for Development of Third Industrial Facility in Southeast

Treeline, a New York-based value-add real estate developer, owner and investor in office, multi-family, and industrial properties, acquired a 36-acre industrial site in Gaffney, S.C., and announced a $30 million plan to develop Victory Crossing, an approximately 300,000 square-foot Class A industrial facility on the parcel.

Treeline acquired the property from Hart Consumer Products, Inc. in an off-market transaction and represented themselves in the transaction.

Choate Construction Company has been named general contractor for the development, and Warren Snowdon of Foundry Commercial has been named exclusive leasing agent for the property, targeting both manufacturing and warehouse/distribution tenants.

Victory Crossing is 40 minutes from both the Charlotte and the Greenville-Spartanburg areas along the expanding Interstate-85 corridor, providing strategic connections to a number of interstate routes such as I-95, I-77, and I-26.

The acquisition marks Treeline’s third investment in the Southeast industrial market, following its acquisition of a two-building portfolio at 3700 and 3720 U.S. Highway 421 North last year from Burgess Corp. and an 80-acre industrial site in Wilmington, N.C., this summer for development of a Class A industrial park.

In all, Treeline has invested more than $60 million in the acquisition, modernization, and new development of more than 800,000 square feet of modern manufacturing, warehouse, and distribution space in the past 18 months.

Regional Surveys of Business Activity

Many Fifth District manufacturing firms reported weaker conditions in October, according to the most recent survey from the Federal Reserve Bank of Richmond.

The composite manufacturing index fell from 0 in September to −10 in October, dipping below its August level. Two of its three component indexes deteriorated notably: the indexes for shipments and volume of new orders fell from 14 and −11 in September to −3 and −22 in October, respectively.

The third component, the employment index, remained unchanged at 0 in October, as hiring challenges persisted.

The monthly survey is sent to contacts whose firm type, firm size, and location collectively match the profile of overall manufacturing in the Fifth District, which includes South Carolina.

Fifth District service sector activity deteriorated in October, according to the most recent survey by the Richmond Fed.

The revenues and demand indexes fell notably to −8 and −7, nearly returning to their August levels. Furthermore, optimism that revenues and demand will improve over the next six months tumbled in October, with both indexes turning negative.

The indexes for capital, equipment & software, and services expenditures edged down slightly.

This monthly survey is sent to retail, wholesale, and services firms selected for participation according to their type of business, location, and firm size.

Bojangles Funds 109 Educational Scholarships for Military, First Responders Children, Families

Following its Camo Big Bo Box campaign, which gave customers the chance to purchase the limited-edition boxes and/or round up their tickets, Bojangles and its franchisees announced raising $548,000 for Folds of Honor, a not-for-profit organization that provides educational scholarships to families of fallen or disabled service members and first responders.

The news was announced at the Carolina Panthers’ game on Sunday, Oct. 23 – Bojangles Day – as the chicken chain presented the organization with a check on the field. The amount raised equates to 109 educational scholarships of $5,000 each.

Throughout its 45-year history, Bojangles has demonstrated a commitment to the communities it serves through ongoing support of charitable, nonprofit, and community organizations.

In addition to the many community activities supported locally by franchisees, the company focuses its efforts on two community relations pillars – literacy and military appreciation – which it will continue to do through its newly minted Bojangles Foundation Fund.

Since 2007, Folds of Honor has awarded about 44,000 academic scholarships totaling $200 million to the family members of our nation’s heroes. Among the students served, 41 percent are minorities.

Allow us to tell your company's Business Narrative. Send your press release to David Dykes or for more information email [email protected]