(Logo provided by Michelin)
Since its arrival in South Carolina 50 years ago, Michelin North America, Inc., has generated more than $266 billion in cumulative total economic impact, according to the new economic impact report published by the University of South Carolina’s Darla Moore School of Business.
This activity level, in turn, has supported an average of about 14,000 total jobs per year since 1975, according to Joseph Von Nessen, a research economist who unveiled Michelin’s economic impact report on Tuesday.
The report was presented as part of an event celebrating 50 years of Michelin manufacturing in South Carolina, a half-century in which Michelin has created jobs, bolstered communities and led the Palmetto State’s transformation in manufacturing.
“Michelin arrived in South Carolina at a pivotal time. As textile manufacturing entered a long decline, Michelin sparked an evolution to advanced manufacturing in our state,” Von Nessen said. “The factories, later complemented with research and headquarters activities, created an economic force that attracted many more manufacturers and increased the quality of life in communities across the state.”
Key findings in the economic impact study include:
- $8.2 billion = Total annual economic impact associated with Michelin’s current activities in South Carolina
- $2 billion = Total annual labor income associated with Michelin’s activities
- 24,915 = Total annual jobs associated with Michelin’s activities
- 6 = Michelin’s employment multiplier; that is, for every 10 jobs Michelin creates, an additional 16 jobs are created elsewhere in the state, for a total of 26 jobs.
- 45 percent = Average income premium for jobs associated directly or indirectly with Michelin vs. the average income in South Carolina
To mark the 50th anniversary, Michelin North America celebrated at its corporate headquarters Tuesday, welcoming state and local leaders, including Gov. Henry McMaster and Ashely Teasdel, deputy secretary, SC Department of Commerce. Alexis Garcin, outgoing president and CEO for Michelin North America also introduced his successor, Matthew Cabe, as Garcin transitions to a new role with Michelin Group starting Oct. 1, 2024.
“For the last 50 years, Michelin has been a driving force for our state, creating good jobs, modernizing our economy, and helping to build our automotive industry into the powerhouse it is today,” said Governor Henry McMaster. “We are grateful for their contributions and look forward to continuing our great partnership for years to come.”
Garcin highlighted in the event that it’s the people who make it possible when it comes to Michelin’s success in South Carolina.
“Available land, access to ports, education and -most importantly- skilled people attracted Michelin to South Carolina a half-century ago,” Garcin said. “Today, we celebrate those generations who made Michelin what it has become: A proud South Carolina citizen, represented by thousands of thriving families connected with 15 Michelin facilities across the state. Each one of them had and still has a huge impact on our communities.”
Michelin North America continues to be a top contributor to South Carolina’s knowledge economy, resulting from the strategic location of research, marketing, sales and manufacturing activities nearby. According to the economic impact study, Michelin maintains 28 percent higher productivity levels than other tire manufacturers in the state, primarily due to the presence of Michelin’s corporate headquarters and the Michelin Americas Research Center.
Construction began on two Upstate Michelin sites in 1973. The first – the semi-finished materials plant in Anderson – came online in October 1974.
A few months later, in 1975, the passenger-tire facility in Greenville was up and running, becoming the first plant in South Carolina to produce a tire.
The company’s North American corporate headquarters moved from Lake Success, N.Y. to Greenville in 1985.
Michelin now operates 15 facilities in South Carolina and employs nearly 10,000 people across the state.
