USA Rare Earth’s Major Investment in Cherokee County Highlights Successful Site Readiness Efforts
GREENVILLE, S.C., June 3, 2026 /PRNewswire/ — The recent announcement by USA Rare Earth to invest significantly in Cherokee County underscores the effectiveness of Duke Energy’s Site Readiness Program. This program has been pivotal in preparing the Bailey Industrial Site for such major economic advancements. Through initial assessments, infrastructure development, and strategic marketing, the site was made more attractive to companies eager to initiate new projects.
Since its inception in 2005, Duke Energy’s initiative has consistently secured substantial investments across South Carolina, with the Bailey site being the latest beneficiary. Following the completion of the site-readiness process, the Cherokee County location was selected by USA Rare Earth for a $1.2 billion facility, promising 490 new jobs—a significant economic milestone for the county.
Duke Energy’s Commitment: “Duke Energy is proud to help bring this transformative project to Cherokee County and strengthen America’s domestic rare earth supply chain,” stated Tim Pearson, Duke Energy South Carolina president. “The Bailey site exemplifies how our Site Readiness Program positions communities to attract game-changing projects. By collaborating with state and local partners on site preparation—from due diligence to energy planning—we enhanced the property’s appeal for companies ready to invest and create jobs. As we prioritize affordable, reliable power for our customers, we’re committed to utilizing this program to secure more opportunities for South Carolina.”
Program Insights: The Duke Energy Site Readiness Program offers comprehensive site assessments in collaboration with site selection and engineering experts to identify potential improvements and challenges before a prospect is considered. This proactive strategy helps communities reduce project timelines and uncertainties, making sites like Bailey more competitive for significant industrial developments.
- The program partners with local economic development bodies to enhance South Carolina’s site offerings.
- Large-scale economic projects help minimize costs by contributing to fixed infrastructure expenses that benefit all customers through expanded capacity and improved reliability.
Economic Impact: For the past 22 years, Duke Energy’s economic development initiatives have been recognized by Site Selection magazine as part of its “Top Utilities in Economic Development” list.
- Since 2005, the Site Readiness Program has facilitated $3.5 billion in capital investments and over 5,200 new jobs in South Carolina.
- Duke Energy has assessed 102 sites in the state, with 26 companies selecting locations that underwent the program.
- Successful program sites include EA Sween in Greenwood County, Thermo King in Greenville County, Fancy Pokket in Lancaster County, Cyclic Materials in Chesterfield County, and most recently USA Rare Earth in Cherokee County.
The Site Readiness Program exemplifies Duke Energy’s role in job creation and economic enhancement across South Carolina. In 2025 alone, Duke Energy contributed to $3.4 billion in capital investment and 2,000 new jobs statewide.
Upcoming Developments: Besides the Cherokee County site, two other locations have recently undergone the Site Readiness Program:
- The Anderson Area Airport Industrial Park spans 226 acres near the airport, offering 175 buildable acres with strong utility access and accessibility.
- The Carolina’s Centre Industrial Park in Chesterfield County covers 296 acres along Highway 9, featuring a 52,000 square foot spec building, water, and robust electrical infrastructure.
Community Perspectives:
- Ken Moon, Cherokee County Development Board executive director: “Duke Energy’s Site Readiness Program was instrumental in USA Rare Earth’s decision to choose the Bailey site for a major expansion and new facility in South Carolina. The program’s preparation helped make the site competitive and ready to meet the company’s needs, creating a major economic win for Cherokee County. Duke Energy continues to be a strong partner in helping position our community for growth.”
- Tommy Dunn, Anderson County Council chairman: “Duke Energy remains an essential partner in advancing economic development in Anderson County, and the Site Readiness Program is a powerful example of that collaboration. By proactively identifying and preparing sites past, present and future, the Site Readiness Program investment has enhanced our competitiveness and strengthened our ability to attract transformative projects.”
- Libby Lear, Chesterfield County Economic Development director: “I cannot emphasize enough the importance of site readiness and how significantly it impacts community growth. Duke Energy’s Site Readiness Program is instrumental in attracting businesses, creating jobs, and fostering economic development in Chesterfield County. By preparing sites for potential investment, we are not only enhancing the appeal of our area but also paving the way for sustainable growth and prosperity.”
About Duke Energy
Duke Energy (NYSE: DUK), a Fortune 150 company based in Charlotte, N.C., stands as one of the largest energy holding entities in the United States. The company serves 8.7 million electric utility customers across six states and owns 55,700 megawatts of energy capacity. Its natural gas utilities serve 1.6 million customers in four states.
Focused on energy modernization, Duke Energy prioritizes customer value through investments in grid upgrades and efficient generation resources, aiming to bolster the system and meet increasing energy demands.
For more information, visit duke-energy.com. Follow Duke Energy on X, LinkedIn, Instagram, TikTok, and Facebook for stories about the people and innovations powering its communities.
Media Contact: Ryan Mosier
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SOURCE Duke Energy
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