Press Release            

Contact: Florence County Economic Development Partnership

Phone: (843) 676-8796

For Release EST, November 16, 2009

Florence, South Carolina

Advanced materials manufacturer to locate operations in Florence County

The Florence County Economic Development Partnership (FCEDP) announced today that Materials Innovation Technology (MIT), a manufacturer of advanced materials, has selected Lake City as the new home of their manufacturing operations. The company will create 120 new jobs and make a capital investment of $5 million over the next five years.  

Materials Innovation Technologies tremendous growth necessitated the establishment of a manufacturing and carbon fiber reclamation division. The new division, MIT-RCF, will utilize the company’s proprietary technology to manufacture composite parts for commercial use in a variety of industries. In addition, MIT-RCF will be reclaiming carbon fiber to be utilized in the manufacturing process, ultimately lending itself to the production of sustainable parts. Jim Stike, President of Materials Innovation Technologies, stated “We are excited about the expansion into Lake City and most appreciative of Florence County and the State of South Carolina for their interest and support of this project.”   

"As we work to compete in an increasingly global economy, South Carolina's ability to attract high-quality companies bringing new investment and jobs is increasingly important. Today's announcement certainly speaks to our state's progress on this front - and is yet another reminder to continue efforts to enhance the state's business climate with reforms that encourage growth and innovation," said Gov. Mark Sanford. "On the most personal of levels, these jobs will mean improved quality of life for many South Carolinians, and I'd thank all involved and encourage them to keep up the good work."

 “Manufacturers continue to find the Pee Dee region a competitive location to do business,” said Senator Yancey McGill. “Our available skilled labor force, pro-business climate, transportation infrastructure, and overall quality of life are all positive attributes that can affect a company’s bottom line. I’m pleased to welcome Materials Innovation Technologies as our newest corporate citizen.”

Materials Innovation Technologies was founded in 2005 and is headquartered in Fletcher, NC. The company specializes in utilizing advanced materials and cutting-edge manufacturing processes to develop solutions that will enhance the way in which composite parts are manufactured. Among their targets are the fields of alternative energy; aerospace and defense; environmental and thermal management; medicine; and engineered components.

“Materials Innovation Technologies is a growing leader in the research and commercial development of emerging technologies. The company’s new facility in Lake City will enhance South Carolina’s advanced materials sector and bring with it new well-paying job opportunities. Materials Innovation Technology’s decision to locate its operations in Lake City  is another sign that our business-friendly climate and skilled workforce are working to attract new investment from companies embarking on cutting-edge technologies that will provide much opportunity for our state in the years ahead,” said Joe Taylor, Secretary of Commerce.

Florence County Council Chairman K.G. “Rusty” Smith stated, “This is wonderful news for Florence County and Lake City. As I have repeatedly stated, the number one priority of Florence County Council will continue to be economic development. We have thoroughly enjoyed assisting this fine company in their location, and look forward to a long and successful partnership.”

“Florence County continues to establish itself as a prime destination for a variety of industry clusters,” said Dr. Charles Gould, Chairman of FCEDP. “On behalf of the Partnership, I would like to thank Florence County Council, the South Carolina Department of Commerce, ReadySC, and all other parties that contributed to making this project a reality for our community. Without the support of Florence County Progress, Inc., and our many allies, we would not be able to successfully bring outstanding companies like Materials Innovation Technologies to Florence County.”

Renovations on the 50,000 square foot former Florence County Spec. Building in Lake City will take place over the coming months. Full production is expected to begin in the first quarter of 2010. 

For more information on Materials Innovation Technologies, please visit www.emergingmit.com

For more information on Florence County Economic Development Partnership, please visit www.fcedp.com or contact our office at 843-676-8796.