Jul 25, 2018
Ingevity to establish new headquarters location in North Charleston, S.C.
PRESS RELEASE
NORTH CHARLESTON, S.C., July 25, 2018 – Ingevity Corporation (NYSE: NGVT) today announced plans to establish a new global headquarters in the city of North Charleston in Charleston County, South Carolina, to accommodate its significant business growth.
Weaver Capital Partners and WECCO will construct a $20 million building to house Ingevity’s new headquarters. Ingevity will invest an additional $5 million to upfit the building to accommodate at least 100 new jobs in the greater Charleston region. The building, designed by architect firm LS3P, will be a 110,000-square foot structure on a former brownfield site located at 4920 O’Hear Avenue. The new facility will be within one mile of the Ingevity Technical Center, which currently houses the company’s headquarters and laboratory space, as well as its Innovation Center and one of its manufacturing facilities. Construction is expected to begin in late fall of 2018, with an estimated occupancy date of April 2020.
Once completed, the new headquarters will feature an open concept, eco-friendly office space to accommodate the company’s leadership, business and non-technical support functions and business development teams. Employees will also have access to many amenities within walking distance, including restaurants, shops and parks in the Park Circle neighborhood.
Following the relocation of Ingevity’s corporate functions, the Ingevity Technical Center will be refurbished to feature new, state-of-the-art laboratory space and offices for its technical teams, dedicated to inspiring innovation and development efforts that purify, protect and enhance the world around us.
“Ingevity has flourished in the North Charleston community for more than 70 years,” said Michael Wilson, Ingevity’s president and CEO. “As the largest publicly traded company by revenues in the Charleston region, we are proud to continue growing our roots in this community. I’d like to thank the state of South Carolina, the South Carolina Department of Commerce, Charleston County, and the city of North Charleston for their exceptional support of our growing business. We look forward to upholding our ongoing commitment to invest in and build our future in the great state of South Carolina.”
South Carolina Gov. Henry McMaster said, “Ingevity is a world-class company, and it speaks volumes that they decided to have this high-tech operation right here in South Carolina. This expansion reaffirms Ingevity’s commitment to our state and serves as another testament to South Carolina’s strong business climate.”
“South Carolina has a rich history in the chemical production sector, and today’s announcement by Ingevity shows that this industry continues to flourish in the Palmetto State,” said South Carolina Secretary of Commerce, Bobby Hitt. “We congratulate this tremendous company on their continued commitment to our state and look forward to watching them thrive for years to come.”
“Congratulations to Ingevity as they locate their corporate headquarters in Charleston County,” commented Charleston County Council Chairman, Victor Rawl. “Ingevity is an undisputed chemical industry leader, producing eco-conscious and sustainable products. We are proud to be the community hosting this ground-breaking R&D, and we look forward to a long partnership together.”
North Charleston’s Mayor Keith Summey remarked, “Ingevity’s positive impact on our community is significant, from their growing employee base to their ongoing substantial capital investments, as well as their tremendous charitable contributions to local non-profit organizations. North Charleston is proud to be the home to the region’s largest locally headquartered, publicly traded company, a truly community-minded organization.”
“We are excited to work with Ingevity on the ongoing development of a build to suit property that will accommodate their current and future business needs,” said Jay Weaver, founding partner at Weaver Capital Partners. “It is especially rewarding to revitalize a brownfield site, which will complement the overall development of the Park Circle neighborhood in North Charleston.”
Ingevity: Purify, Protect and Enhance
Ingevity provides specialty chemicals and high-performance carbon materials and technologies that purify, protect and enhance the world around us. Through a team of talented and experienced people, Ingevity develops, manufactures and brings to market products and processes that help customers solve complex problems. These products are used in a variety of demanding applications, including asphalt paving, oil exploration and production, agrochemicals, adhesives, lubricants, publication inks and automotive components that reduce gasoline vapor emissions. Headquartered in North Charleston, South Carolina, Ingevity operates from 25 locations around the world and employs approximately 1,600 people. The company is traded on the New York Stock Exchange (NYSE: NGVT). For more information visit www.ingevity.com.
