From Secretary of Commerce Bobby Hitt

Over the course of history, very few events take place that have the power and significance to transform an entire state. An occurrence of that magnitude is rare. Exactly 25 years ago this month, however, one such event transpired in South Carolina. On June 22, 1992, Bayerische Motoren Werke AG -- known around the world as BMW -- announced plans to establish its first U.S. manufacturing operation in our state. More than $7.8 billion in capital investment and 3.7 million vehicles later, BMW's Spartanburg County facility has become the company's largest, by production, in the world; and, its impact on the Palmetto State has been immeasurable.

Since the plant opened for production in the summer of 1994, approximately 40 BMW suppliers have located to our state, fueling a robust, rapidly-growing automotive sector. Today, that sector is comprised of nearly 400 firms and employs more than 66,000 South Carolinians. Because of this growth, the Palmetto State now leads the nation in the export sales of completed passenger vehicles, accounting for 18 percent of the total U.S. market share.

More than just a major economic driver, BMW's Upstate operations -- and the success of those operations -- have helped South Carolina become a true brand state. Dozens of globally-recognized brands now call South Carolina home. In the automotive sector, specifically, BMW, Mercedes-Benz Vans and Volvo Cars operate within our borders. No other state boasts a premium automotive constellation of that quality. And, as a result, we've developed a brand of our own.

South Carolina is now known worldwide as a state that can produce advanced products. We're also known as a state where industry from all corners of the globe can succeed. So, this month, as we celebrate BMW's 25th anniversary in South Carolina, we recognize the economic transformation that has taken place across this state, and we look forward to continued growth in the years to come.