e-VAC Magnetics, a manufacturer of rare earth permanent magnets in the Western Hemisphere, today announced it is establishing U.S. operations in South Carolina, building its first facility in Sumter County.
The project is expected to bring more than half a billion-dollar investment and create 300 new jobs for Sumter County, according to a news release from the South Carolina Department of Commerce.
“e-VAC is grateful for the support of the State of South Carolina, Governor Henry McMaster, Senator Lindsey Graham, and Representatives Jim Clyburn and Ralph Norman,” VAC Group CEO Erik Eschen said in the release. “We are excited to become a member of the Sumter County community. This project represents a significant commitment by VAC to re-shore critical process and product technology, creating good paying and highly skilled jobs for residents of the community. With this support, we will directly contribute to U.S. energy independence and national security.”
The company will construct, own and operate a new facility on 85 acres in the Pocotaligo Industrial Park in Sumter County, according to the release. The facility will house production of permanent magnets for electric vehicles and defense applications.
e-VAC entered into an agreement with the U.S. Department of Defense, which will provide $94.1 million to acquire and install manufacturing equipment, operationalize technical infrastructure, and engineer production lines for the facility, the release stated.
Operations are expected to be online in late autumn 2025.
e-VAC is part of the VAC Group (VAC), a leading developer of magnetic materials and solutions. e-VAC produces rare earth neodymium-iron-boron (NdFeB) magnets, which are critical to automotive, defense, industrial and renewable energy applications. This facility and VAC’s decades of experience in rare earth magnet technology and process intellectual property represent a critical step to ensuring a resilient, U.S.-based supply chain.
Through the readySC program, South Carolina’s Technical College System will help e-VAC recruit and train potential employees. A website with hiring information will be available next year.
“The arrival of e-VAC Magnetics in Sumter County is a testament to our state’s booming economic growth and our commitment to fostering an environment that attracts business and opportunity,” Murrell Smith Jr., speaker of the South Carolina House of Representatives, said in the release. “With the addition of 300 new jobs in the region, e-VAC will be a welcome partner to the readySC program, our technical schools, and the larger community. South Carolina continues to be a leader in the advancing electric vehicle sector, and I could not be prouder to continue this trend in Sumter County.”
The S.C. Coordinating Council for Economic Development approved job development credits related to this project, according to the release. The council also awarded a $13 million Rural Infrastructure Fund grant to Sumter County to assist with the costs of land acquisition, site preparation, road improvements, water and wastewater improvements, and building construction related to this project. Sumter County was also awarded a $2 million LocateSC grant to offset costs associated with infrastructure improvements for the Pocotaligo Industrial Park that are needed for and will benefit e-VAC.
“More than half a billion-dollar investment and the creation of 300 well-compensated technical positions is significant for our community and certainly exemplifies our continued readiness and ability to foster growth in Sumter, South Carolina,” Sumter Development Board Chairman Greg A. Thompson said in the release. “We are excited about this new surge of opportunity for our residents and what it will mean for our community.”i