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Chavez-Deremer and Fry Address Economic Development in SC

U.S. Secretary of Labor and Congressman discuss economic initiatives in Myrtle Beach.

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AESC Electric Battery Plant

AESC Electric Battery Plant is a major manufacturing facility located in Florence, South Carolina. Established with an estimated investment of $1.6 billion, it focuses on producing electric vehicle batteries to support the growing demand for clean energy transportation. The project faced a temporary halt due to changes in federal EV tax credits but remains a vital part of the region’s economic development plans. AESC is committed to resuming construction when market conditions improve. The plant plays a crucial role in supporting South Carolina’s industrial growth and positioning the state as a significant player in the electric vehicle supply chain. Its development reflects ongoing efforts to enhance local job creation and economic sustainability in the Myrtle Beach area.

News Summary

In Myrtle Beach, U.S. Secretary of Labor Lori Chavez-Deremer and Congressman Russell Fry discussed key economic initiatives, including the halted AESC electric battery plant and the critical I-73 construction project. Both leaders emphasized the importance of local business feedback for future infrastructure development, aiming to enhance economic growth and safety in the region.

Myrtle Beach, SC –

U.S. Secretary of Labor Lori Chavez-Deremer and Congressman Russell Fry convened in Myrtle Beach to discuss critical economic development initiatives and infrastructure projects. The press conference is part of Chavez-Deremer’s extensive 50-state tour, designed to gather insights from industry leaders and frontline workers across the country.

During the meeting, Secretary Chavez-Deremer and Congressman Fry addressed several pressing issues facing the region, including the construction halt at the AESC electric battery plant in Florence. The project, which has an estimated budget of $1.6 billion, came to a standstill due to recent changes in federal electric vehicle (EV) tax credits, particularly those outlined in President Trump’s “Big, Beautiful Bill.” AESC officials have indicated that they expect construction to resume once market conditions improve, signaling a cautious optimism about the future of this vital facility.

Congressman Fry also highlighted the importance of the planned construction of Interstate 73 (I-73), which would provide a crucial connection between the Grand Strand area and Interstate 95. This project has faced significant funding challenges, having been excluded from the statewide budget for the past two years. Fry emphasized that the construction of I-73 is not only essential for regional economic support but also serves as a vital evacuation route during hurricane events. He is actively working to bring together federal and state officials to align their efforts regarding this project, which is estimated to cost between $1.5 billion and $2 billion.

Local communities have demonstrated strong support for I-73, with Horry County taxpayers voting to fund their portion of the project. Congressman Fry reiterated that this roadway is essential not only for economic revitalization but also for ensuring public safety.

Secretary Chavez-Deremer’s visit underscored a broader commitment to engaging with businesses in South Carolina. The insights gathered during this tour will inform bipartisan legislative efforts intended to bolster economic growth and infrastructure development. She expressed a desire to incorporate feedback from the local business community into the discussions taking place in Congress.

Following their press conference, Fry and Chavez-Deremer intend to visit additional businesses in the Grand Strand and Pee Dee regions to gather further input and insight from local industry leaders. This hands-on approach aims to foster a better understanding of the economic landscape and to identify actionable strategies that can facilitate growth in these areas.

The overarching goal of these discussions is to create a more favorable environment for business expansion and job creation in South Carolina. As the nation continues to navigate challenges related to infrastructure and economic sustainability, the collaboration between federal and state officials will be crucial in developing effective strategies to support the local economy.

This assembly of Secretary Chavez-Deremer and Congressman Fry marks a significant step towards addressing the pressing infrastructure needs of Myrtle Beach and its surrounding regions. The outcome of their initiatives will be closely watched as local leaders, businesses, and constituents await the potential positive impacts of these developments.