SC, Germany form new economic partnership to boost investment

South Carolina’s business relationship with Germany just got a lot cozier.

Gov. Henry McMaster recently joined German Ambassador to the United States of America Jens Hanefeld to sign a Joint Declaration of Intent  to establish a formal economic partnership between South Carolina and Germany designed to attract new jobs and investment, accelerate innovation, and expand business opportunities in South Carolina, according to a news release.

“By establishing a formal economic partnership with Germany, we create yet another powerful tool for South Carolina to get ahead in the fierce competition for jobs and investment,” said McMaster. “Together, we will create more opportunities for our people and build an even brighter economic future.”

The agreement prioritizes collaboration and cooperation in the areas of energy resiliency and sustainability, automotive and mobility technologies, and life sciences, the release stated. The JDI establishes a working group that will meet to coordinate joint initiatives like workforce development, identify opportunities for further business partnerships, exchange technical and scientific information, and facilitate research and development collaboration.

“The ties between Germany and South Carolina are an outstanding example of the transatlantic partnership. German efficiency and the strong work ethic of South Carolinians have created unparalleled success. I am pleased that we are taking the next step in this partnership today.” Hanefeld said.

According to the Department of Commerce, Germany is South Carolina’s largest export partner. In 2024, the trade volume between South Carolina and Germany was $13 billion. South Carolina is currently home to 270 German companies that employ over 44,000 South Carolinians.

McMaster participated in economic development mission trips to Germany in June 2024 and July 2025 to strengthen partnerships with existing business partners and explore potential economic development projects.

Since taking office, Governor McMaster has announced over 98,200 new jobs and over $53 billion in new capital investment, according to the release. This calendar year alone, the governor has announced over 6,000 new jobs and over $8.2 billion in new investment.

Click here to read the agreement.