Local Data
Location & Expansion Log
Diverse companies – from startups to multinational corporations – continue to relocate and expand existing operations in the Charleston region.
CRDA-Facilitated Projects
Leonardo DRS / DRS Naval Power Systems
February 27, 2024
Defense products and technologies manufacturing and testing
Multinational firm Leonardo DRS, through its subsidiary, DRS Naval Power Systems, has announced it will build a 140,000-square-foot manufacturing and test center at 1588 Bushy Park Road in Berkeley County within the Charleston region. DRS Naval Power Systems provides naval power and control technology solutions for the U.S. Navy and allied navies, as well as for commercial applications. The new facility will expand the company's capability to integrate its next-generation electric propulsion system into current and future naval platforms including the U.S. Navy's priority program, the Columbia-class ballistic missile submarine. Operations are expected to be online by 2026.
Ingenics Corporation USA
November 22, 2023
Multinational corporate consulting firm specializing in the transformation and digitization of business models, products, and processes, serving automotive, aerospace, logistics, agriculture and medical technology, and other industries
"As Ingenics continues to grow and expand its presence, this [office opening] event marked a significant milestone on our journey as we upgraded to a new office in the Lowcountry. Here's to building stronger bonds and a bright future at Ingenics Charleston!" --Ingenics Corporation USA LinkedIn post (https://www.linkedin.com/feed/update/urn:li:activity:7092927375797088257/?utm_source=share&utm_medium=member_desktop)
New, Expanding, and Mergers & Acquisitions
Tradd Advisory Company
April 25, 2024
Freight transportation services
Tradd Advisory Company (Tradd), a freight transportation services provider, recently expanded into its first established office space in the Harbor Entrepreneur Center located at 11 eWall St. in Mount Pleasant. Established in 2018, Tradd is a third-party logistics provider that advises agents, clients and carriers on the most effective strategies for handling freight transportation. The company works with a network of over 93,000 carriers and offers premium service options for moving all types of cargo. Operations are already in progress.
Pensievision
April 15, 2024
3D imaging technologies using Artificial Intelligence (AI) with medical applications as well as in consumer electronics, smartphones, astronomy/physics and more
Pensievision, Inc., an imaging technology startup, was awarded a National Institutes of Health (NIH) Phase II grant to perform research and clinical testing of a handheld, 3D imaging system for improved screening of cervical cancer. Pensievision's patented 3D optical imaging technology is unique in its approach of using astronomy imaging techniques, coupled with artificial intelligence, for imaging of lesions inside the human body. The company is currently working to develop additional medical applications, including imaging of skin lesions and esophagus and pharynx lesions. The firm has begun developing non-medical applications for industrial inspections, nondestructive testing, and aerospace. A prototype imaging device designed to monitor biological payloads in space is currently undergoing simulated space environment testing and is planned for launch into space within the next couple of years.
Downsizing
Logistics Support Inc, a div of Z Systems Corp.
April 6, 2024
Private sector logistics and technical support for APS-3 (Army Prepositioned Stock) vessels, which transport and store military equipment and supplies
Layoff affecting 98 positions after an unanticipated loss in funding for the defense-contracting work it was engaged in.
Fruit of the Loom Palmetto Distribution Center
January 26, 2024
Apparel warehousing and distribution
Closure by July 1, 2024, affecting 119 workers. Fruit of the Loom's Director of Corporate Communications Melanie Cressman reported, "As a global Company operating in a highly competitive marketplace, Fruit of the Loom, Inc., is constantly analyzing its business to ensure we remain as competitive as possible. After an extensive review of our distribution network, the decision was made to close the distribution center in Summerville, South Carolina in support of a consolidation strategy." The company is a wholly owned subsidiary of Berkshire Hathaway, Inc.
