2007 capital investment was $80.1 million, report shows
By LARRY HILLIARD Ledger Staff Writer larry@gaffneyledger.com

Although 2007's economic investment figures didn't approach the record-setting mark of 2006, local development officials weren't complaining either.

Capital investment totaled $80.1 million in 2007 - in line with previous years, according to the Cherokee County Development Board's annual report.

In 2006, Duke Energy was responsible for the single largest capital investment in county history when it selected Cherokee County as the location for its $4 billion nuclear power plant.

A highlight of 2007 was the announcement that Bericap would become the first tenant in the new Upstate Corporate Park located on the Cherokee-Spartanburg County line. The specialized plastic maker is expected to invest $20 million to build a new 90,000-square-foot facility that will initially employ about 45 workers.

Another company, DSE, Inc., - a munitions supplier - pledged this year to renovate the former 320,000- square-foot National Textile building on Victory Trail Road. The company could employ as many as 215 people over the next five years.

Lesco has already begun construction of a 13,000- square-foot building on Overbrook Drive. The company plans to hire 45 to 55 people to fill its customer service and information technology slots.

There was more good news, according to the report, in keeping industries here and in expansions of existing facilities. The largest economic expansion in 2007 was the nearly $5 million upgrade to Upstate Carolina Medical Center's outpatient facility.

More than 350 new jobs were created in Cherokee County this year. The local unemployment rate averaged 7.2 percent here in 2007.

In addition to the industrial announcements, Spartanburg Community College completed construction of an $11.3 million business training center and $6.2 million academic building.