Defense Venture Group, a military and security parts supplier, is moving its headquarters to Lancaster County S.C. The move will provide 220 new jobs to an area where unemployment is near 20 percent.
State and county officials said Defense Ventures Group is obligated to invest at least $24 million in economic development property within five years. That does not include the purchase price of the land. The company also must commit to 87 or more new full-time jobs by the end of the year and no less than 235 by the third year of the project, according to local reports.
Defense Ventures will relocate to the area in March and is expected to start operations in May.
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