Charleston, SC – Economic development attorneys and consultants with Parker Poe Adams & Bernstein LLP and Parker Poe Consulting – Location Solutions advised Redwood Materials on its planned expansion to the “Battery Belt” outside of Charleston, South Carolina. The battery recycling company’s $3.5 billion investment will create approximately 1,500 jobs in what is the single largest economic development announcement in South Carolina’s history.
The monumental economic development project was announced on December 14, 2022, by Redwood Materials, the State of South Carolina and Berkeley County. The announcement took place at the Company’s future location at the Camp Hall Industrial Park.
Redwood Materials takes in end-of-life batteries, breaks them down to their basic metals, then rebuilds those metals into cathode and anode products. These are the most critical and expensive components in an electric vehicle and are currently not produced in North America. The new 600-acre Battery Materials Campus will recycle, refine and manufacture anode and cathode components and will eventually produce 100 GWh of cathode and anode components per year – enough to power more than one million electric vehicles. Redwood Materials plans to break ground on its new campus early next year and expects to begin its first operations by the end of 2023.
“Redwood Materials’ record-breaking announcement shows that our state’s strategic plan to remain a top destination for automobile manufacturers and their suppliers as the industry innovates is working,” said Gov. Henry McMaster. “This $3.5 billion investment, and the 1,500 jobs it will create in Berkeley County, is a transformative accomplishment that can only be attributed to the strong, talented, hardworking South Carolinians who make our state as great as it is.”
Parker Poe’s Business Expansion and Locations Services (BELS) Team managed the complex project. The team of consultants includes Morgan Crapps, Mark Simmons, Azad Khan and Beth Webb. The multidisciplinary team of attorneys and legal professionals includes Sam Moses, Todd Haynie, Ray Jones, Ryan Romano, Emily Zackon, Davis Riddle, Madison Felder, Elizabeth Dieck, Jim Werner, Richard Few, Evan Phillips, Mike Pitts, and Peggy Marstin.
Click this link to learn more about the announcement: Redwood Materials
South Carolina Department of Commerce REDWOOD MATERIALS ESTABLISHING OPERATIONS IN BERKELEY COUNTY WITH LARGEST ECONOMIC DEVELOPMENT ANNOUNCEMENT IN STATE HISTORY
About Parker Poe
Parker Poe Adams & Bernstein LLP is a full-service corporate law firm with over 275 attorneys in eight offices across the US. For more than a century, firm attorneys have represented domestic and international companies in business transactions, regulatory matters, litigation, and government relations and public policy. The Best Lawyers in America lists nearly half of the firm attorneys in its rankings, and they are also recognized by U.S. News & World Report, Chambers USA and other publications. Parker Poe is a member of two leading international legal networks: TerraLex and the Employment Law Alliance.
Parker Poe Consulting
Parker Poe Consulting is a corporate site selection and economic incentives consulting firm. The Parker Poe Consulting team provides site selection services to find data-driven solutions for clients who are expanding their footprints and considering new capital investments and job creation. Parker Poe Consulting also provides economic incentives consulting services to growing companies, helping clients navigate and negotiate incentives for economic development projects. From global conglomerates to family-owned businesses, Parker Poe Consulting positions companies to make informed project decisions that will maximize operational effectiveness while reducing costs.
Parker Poe’s Business Expansion & Location Services (BELS) Team provides legal and location solutions for companies expanding their operations across the United States. In this unique model to Parker Poe, experienced consultants provide data-driven location analysis, working alongside attorneys advising on legal strategy, to create a seamless and proven structure for successful expansion projects, with the added benefit of saving companies time and money. The BELS Team has collectively executed hundreds of corporate investment projects, helping to create tens of thousands of new jobs.