Burr & Forman Represents e-VAC Magnetics in First South Carolina Project
e-VAC Magnetics (e-VAC), a leading 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.
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.
The company will construct, own and operate a new facility on 85 acres in the Pocotaligo Industrial Park located in Sumter County. 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. Operations are expected to be online in late autumn 2025.
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 S.C. Coordinating Council for Economic Development approved job development credits related to this project. 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.
John F. Wall, IV served as lead legal counsel for the final incentive negotiation and implementation for the project, and Judith McInnis served as legal counsel for the real estate work.