The IRA and the challenge of remaking America’s economy

For decades, Chester County, South Carolina was in decline, marked by vacant shops and abandoned textile mills after local producers packed up their operations for lower cost production abroad. 

When Albemarle Corp, the world’s largest lithium producer, announced last year it would construct one of America’s largest refineries in the area, investing $1.3bn to serve the burgeoning electric vehicle market, local people were hopeful for a revival.

“With the new industry coming in, these uptown buildings are starting to be refurbished and utilised,” says former textile worker Marvin Waldrep, 74. He has noticed new speciality stores such as an ice cream shop move in. “The town goes from almost a ghost town to vibrant again.”