Trade & Industry Development selects Albemarle Corporation Project for Community Impact Recognition
Trade & Industry Development magazine recently announced the winners of their 2024 CiCi Award Winner. The Corporate Investment/Community Impact Awards (CiCi Awards) honored 31 economic development projects. 16 were in the “Corporate Investment” category, while 15 were in “Community Impact.” Only three of the award winners were from South Carolina. This includes the Scout Motors in Richland County, QTS Data Centers in York County, and Albemarle Corporation in Chester County. Chester County was selected as one of the Corporate Investment winners.
In March 2023, Albemarle announced its plans to invest $1.3 billion and create more than 300 jobs for a new lithium hydroxide processing plant to help meet the demand for domestic and international electric vehicles and lithium-ion batteries. In January 2024, Albemarle outlined a series of proactive measures to re-phase its organic growth investments in response to changing end-market conditions. As a result, the company is deferring spending at the Richburg facility. Albemarle is advancing partnerships with South Carolina, local communities and educational institutions to build a talent pipeline and create advanced technology jobs to support the facility and the community. Additionally, the site could create new opportunities for suppliers and other businesses to locate nearby.
We are delighted to be recognized as one of Trade and Industry’s 2024 CiCi Award winners. Albemarle’s Richburg project is critical for the domestic supply of lithium hydroxide for electric vehicles. The Richburg project is part of Albemarle’s long-term plan to help secure the US lithium supply chain, and we look forward to them breaking ground in the future.