YORK COUNTY, S.C. -- The South Carolina Department of Commerce has announced Stanley Black and Decker will be opening a new manufacturing facility in York County.

The new facility is estimated to bring $31 million in capital investment and the creation of 500 new jobs.

"You may know Stanley Black & Decker has always been committed to American manufacturing. But you may not know that we operate 30 manufacturing plants across America, and have announced two more American manufacturing plants and several factory expansions in this year alone. We are proud to continuously make more product in the U.S.A., and even prouder to be the world's largest and America's largest tool company," said Stanley Black & Decker Global Tools and Storage President, Jeff Ansell.

"Stanley Black & Decker's decision to invest in South Carolina and create 500 new jobs here is one that will change lives in York County. Our state's manufacturing industry continues to impress, and having a global name like Stanley Black & Decker call our state home is a testament to our world-class workforce and competitive business environment," said Gov. Henry McMaster.

The Fortune 500 company will be occupying a new 345,000-square-foot facility in the Lakemont Business Park in Fort Mill, S.C.