For real-time news on business, politics and economic development in the South, go to SouthernBusiness.com. For all projects announced in the South and more, go to SB-D.com. For more information on the automotive industry, go to SouthernAutoCorridor.com.
Regional
“Hold my beer:” Home prices in Texas and Florida are falling
The residential real estate market is cooling and prices have started falling in some cities in Florida and Texas, where robust home-building activity in recent years has helped boost the number of homes for sale. The two states account for almost 25 percent of new U.S. residential building permits and 47 percent of permits in the South and has since 2019, according to Census Bureau data.
UAW successfully organizes union at VW plant in Chattanooga
UAW wins at VW plant Tennessee, no chance for union at Mercedes plants in Alabama
In April, workers at a Volkswagen plant in Tennessee voted to join the union, the first large nonunion auto plant in the South to do so. Weeks later, the union negotiated a new contract bringing significant pay and benefit improvements for its members at several North Carolina factories owned by Daimler Truck.
What are the top 10 highest taxed states? Not one from the South.
New York residents spend the most on taxes of any state in the country; a whopping 12% of their annual income goes to state and local government income taxes. Here are the other nine highest income tax states.
Source: Wallet hub
South Carolina earned top inbound state for moves; top five include four from the South
The 2023 Allied US Migration Report presents a detailed analysis of the current trends in interstate moves across the United States, highlighting significant patterns and underlying economic factors.
According to Allied, South Carolina tops the list of states for relocation in 2023, according to the study. According to the Allied US Migration Report, the most attractive state for people to move to in 2023 was South Carolina (65%). And Charleston was the top city (70%). The percentage represents the number of people moving into the state as a share of the state’s total number of movers.
The top five inbound states included Arizona, Tennessee, North Carolina and Florida in the Allied ranking. Other data from the report included:
Top Outbound States
Illinois
California
Pennsylvania
Michigan
Washington
Top Inbound Cities
Charleston, S.C.
Tucson, Ariz.
Charlotte, N.C.
Nashville, Tenn.
Phoenix, Ariz.
Top Outbound Cities
San Diego, Calif.
Chicago, Ill.
Seattle, Wash.
Detroit, Mich.
Los Angeles, Calif.
Source: Allied US Migration Report
Governor calls North Carolina the “epicenter of clean energy”
In the spring quarter, North Carolina Gov. Roy Cooper said that the Tar Heel State is the center of clean energy. From the Triad Business Journal, “If you talk to any CEO of any car company in the world, they will tell you that they are stumbling all over themselves to get into the market first for affordable vehicles,” says Governor Roy Cooper, who calls North Carolina “the epicenter of clean energy.”
Toyota is building its $13.9 billion battery manufacturing plant in Randolph County, N.C. (near Greensboro). Also, Vietnam EV maker VinFast has started constructing the first electric vehicle manufacturing facility in the Triangle Region in Chatham County. That project is fueled in part by a $1.2 billion economic development initiative, largest in the state’s history. Toyota’s project will create more than 5,000 jobs upon completion in 2025.
The story also contained a quote from the president of Toyota Battery Manufacturing:
“The thing that we were really, really interested in, and we felt like we can capitalize on, was the human capital in the people, the talent pool that they had here, mainly driven a lot by their school systems, their college systems,” says Sean Suggs, North Carolina president of Toyota Battery Manufacturing.
Alabama
Montgomery, Ala. lands next-gen Meta data center
In May, Meta Platforms announced that it will build a 715,000-square-foot data center on a 1,500-acre site across Interstate 65 from the Hyundai Motor Manufacturing Alabama plant in Montgomery. Menlo Park, California-based Meta operates Facebook, Instagram, Threads and WhatsApp, among other products and services. It is the second Meta data center in the state. The other is in Huntsville.
In a report by the Alabama News Center, Meta seems very happy about the decision to pick Alabama’s Capital. “Montgomery is the perfect home for Meta,” Brad Davis, director of Community and Economic Development at Meta, said. “It offers so much. Great access to infrastructure and renewable energy, a strong pool of talent and most importantly, a great set of community partners who have helped us move this project forward quickly. You all have been amazing from the beginning, and we thank you.”
Coca-Cola investing $338 million in new Birmingham headquarters
Coca-Cola United continues to move closer to building a new $338 million campus that will be a gateway to Birmingham, city and company officials said in June. The new HQ is being built at the Birmingham-Shuttlesworth International Airport.
Genpak cuts ribbon on Montgomery, Ala. expansion
Foodservice packaging company Genpak LLC cut the ribbon on its $22.8 million expansion to its Montgomery facility that turns the building into a distribution hub. The company has resumed operations now that it has upgraded the plant.
“Working for Alabama” package aims to supercharge the state’s economic growth
In the spring quarter, Governor Kay Ivey signed the “Working for Alabama” legislative package into law, with the goal of transforming Alabama’s workforce, getting more Alabamians trained for high-paying jobs, streamlining Alabama’s economic development efforts and investing into Alabama communities, especially those in rural areas.
The bipartisan, six-bill package aims to streamline and make more efficient and effective the state’s efforts and strategies in these respective areas.
“Our state leaders over the past few years have taken up several ambitious challenges to address Alabama’s top areas of need,” Governor Ivey said. “And the results are paying out in dividends.
“From broadband to infrastructure to The Game Plan we passed last year and now, Working for Alabama, we have come together to put Alabama first and have paved the way for a stronger economy and a better quality of life for all Alabamians,” she said.
Alabama’s poorest region is all-in on ecotourism
Alabama’s Black Belt has all the ingredients to become a premier ecotourism destination, according to a report produced by a renowned ecotourism expert who conducted a detailed assessment of tourism development potential in the region.
The report, authored by Costas Christ and Associates, and including Beyond Green Travel and the University of Alabama Center for Economic Development, recommends that tourism planning and development in the Black Belt focus on the three pillars of nature, culture and community. It also urges communities throughout the Black Belt to collaborate and work together to foster economic development throughout the region’s 23-county footprint.
“By emphasizing the conservation of nature and protection of cultural and historic sites, along with local community engagement, the Black Belt can become a leading ecotourism destination,” said Christ, who is a former editor and senior director for sustainability for National Geographic and a top travel expert. “The Black Belt is a diamond in the rough. It just needs some polishing,”Christ said in an interview with Alabama News Center.
Korean parts maker expanding in Opelika, Ala.
Auto parts maker Daewon is planning a $46.2 million expansion in Opelika, Ala. that will create 100 jobs.
Arkansas
EV battery-quality lithium plant in Arkansas gets boost
Standard Lithium Ltd., the company developing commercial lithium operations in Arkansas and east Texas, announced Wednesday that it has a new partnership with publicly traded Equinor ASA. Norway-based Equinor is investing up to $160 million in the new plants.
Standard, based in Vancouver, British Columbia, will get a $30 million cash payment at closing of the deal. Additionally, Equinor will solely provide funds for a $60 million work project in southwest Arkansas and in east Texas. Standard has been producing battery-quality lithium products at a test plant in El Dorado for more than three years.
EV startup scratches Arkansas from its site list
Electric vehicle manufacturer Canoo Technologies announced in November 2021 that it was moving its corporate headquarters from Texas to Bentonville, Ark. and planning a research and technology center in Fayetteville. That is unlikely to happen now as the warehouse in Bentonville where Canoo was to being EV assembly is now up for sublease, only after a couple of years of the company signing a 10-year lease. But Canoo never moved in because it could not secure, according to the company, a second site in the area to house its headquarters.
Tractor Supply opens in Maumelle, Ark.
Tractor Supply has opened its 10th U.S. distribution center in Maumelle, Ark. The 1.1 million square-foot facility represents an investment of more than $175 million in the region and will create 500 full-time jobs for local residents. Tractor Supply is the largest rural lifestyle retailer in the country.
Rural Arkansas county on a major five-year run
Zekelman Industries, the largest independent steel pipe and tube manufacturer in North America, will invest up to $120 million to expand the manufacturing capabilities and product offerings of its subsidiary, Atlas Tube, in Mississippi County, Ark.
The project will bring Zekelman’s total number of employees in the area to more than 300. During the unveiling, the manufacturer also announced it will partner with Arkansas Northeastern College on a new workforce training initiative. Mississippi County is the largest steelmaking county in the U.S. with plants like Big River Steel, Nucor and U.S. Steel.
Bekaert Corporation is expanding its manufacturing facility in Arkansas
Bekaert Corporation is expanding its manufacturing facility in Van Buren, creating 38 new jobs in the region. A global leader in the steel wire transformation and coating technology sector, Bekaert produces steel wire and strands at the Van Buren facility. The company has operated in Van Buren since 1970.
Hino Motors closing large plant in Arkansas Delta
A couple of decades ago, Toyota and its site selection guru, Dennis Cuneo, scouted a megasite across the bridge from Memphis in Marion, Ark. to build a large assembly plant. That was the pickup truck project that ended up on San Antonio.
While East Arkansas lost out on that deal, they gave the Delta a “parting gift,” according to workforce development pro, Dr. Glen Fenter. Fenter is now superintendent at Marion Schools.
The parting gift was Hino, which makes stamping and component parts in Marion. In June, the Japanese-based parts manufacturer announced it will close the 1,300-employee facility in late 2027. HMM is a subsidiary of Japanese publicly traded company Hino Motors Ltd., of which Toyota owns a majority stake. HMM began production at its Marion facility in 2006 and expanded multiple times over the years.
Florida
Travel+Leisure moving 1,000 positions to new downtown Orlando headquarters
The Orlando-based timeshare/vacation ownership giant is relocating from its current HQ located in the tourism sector of the region.
Georgia
Atlanta City Councilmembers seek data center ban
Atlanta City Councilmembers Jason Dozier and Matt Westmoreland introduced two pieces of legislation in May that would ban data centers from being built within the BeltLine Overlay District and within a half-mile of transit stations in Atlanta. According to the Atlanta Business Chronicle, every councilmember is backing the legislation, which would not affect existing data centers nor those already approved for construction. “We want to make sure you have spaces that will be utilized by people rather than equipment and robots,” Dozier said.
Atlanta is the hottest data center market in the U.S. right now, growing by 211% in projects under construction between 2022 to 2023, according to a CBRE report. Members of the City Council say that data centers should not be built where more appealing uses of the land, such as greenspaces and affordable housing.
Owner of Tommy Bahama announces $130 million Georgia project.
Atlanta-based Oxford Industries Inc., which owns several retail brands including Tommy Bahama, Lilly Pulitzer and Johnny Was, announced in the spring it will build a $130 million distribution center in the Toombs County town of Lyons. The project will create 60 new jobs.
Kentucky
Hydro Aluminum expands manufacturing operation in Henderson, Ky.
The producer of recycled aluminum products will invest $85 million, creating 31 new, high-wage jobs.
Louisiana
EV battery material maker buy land in Ascension Parish, La.
Element 25, an Australian mining company, has purchased a 35-acre site in Ascension Parish where it hopes to invest $289 million in a plant to make electric battery components. The plant would be the first in the Western Hemisphere to manufacture high-purity manganese sulphate monohydrate, or HPMSM, a critical component in electric vehicle batteries.
Northshore New Orleans on a nice deal run
Construction has begun on a $46 million cold storage facility in Pearl River, La. that promises 100 new jobs. It is one of several deals turned recently in St. Tammany Parish. Georgia-based Agile Cold Storage is building a new facility that will house food production and distribution through the Port of New Orleans to around the world. The project is one gained by the announced $1.8 billion expansion of one of the South oldest port facilities.
Investment to Expand Hammond Headquarters, Retain More Than 100 Tangipahoa Parish, La. Jobs
S&W Wholesale Foods, a Louisiana-based leading independent foodservice supplier, announced it is investing $21 million to acquire a new facility that will increase operational capacity and allow the company to fill orders for customers across the Gulf Coast more effectively and efficiently.
The company is expected to retain more than 100 existing jobs in Tangipahoa Parish. The project is estimated to create 60 construction jobs at peak construction.
Metal processor is expanding in Northwest Louisiana
BENTELER Steel/Tube Manufacturing is investing $21 million to expand its plant at the Port of Caddo-Bossier with the construction of a new threading facility for hot rolled seamless steel tubes. The deal will create 49 jobs. The products are used in the oil and gas energy sector.
Mississippi
Electric truck tri-venture in Mississippi snags BlueOval City CEO
BlueOval City, a Ford-driven project north of Memphis is nearing completion. Ford will manufacture its next-generation electric truck at BlueOval City, which is scheduled for completion this year.
Kel Kearns, formerly the plant manager at the Tennessee Electric Vehicle Center at BlueOval City, will serve as CEO of Amplify Cell Technologies, the name for the tri-venture between Cummins, Daimler Truck, and Paccar. The nearly $2 billion facility will produce differentiated lithium-iron-phosphate (LFP) battery cells in Marshall County, Miss. The North Mississippi plant is projected to house 2,000 workers.
Anduril Industries expanding operations in Stone County, Miss.
Anduril Industries is expanding its operations in McHenry. The project represents a corporate investment of $75 million and will create 60 new jobs. Anduril is a defense technology company on a mission to transform U.S. and allied militaries with advanced technology. Anduril combines modern software expertise with a rapid and differentiated approach to hardware development and manufacturing.
The company, based out of Costa Mesa, California, acquired Adranos, Inc. last year, along with its solid rocket motor production site in Stone County. The expansion will enhance the capabilities of that facility to increase the propellant mixing and solid rocket motor annual production capacity from 600 to more than 6,000 tactical-scale solid rocket motors. The expansion supports growing demand from Anduril’s customers. Mississippi Development Authority
Blue Delta Jeans expanding in Lee County, Miss.
Custom blue jean manufacturer Blue Delta Jeans Company is expanding at its location in Lee County. The project is a $1,500,000 corporate investment and will retain 55 jobs.
Blue Delta currently leases 15,000 square feet of its facility in Shannon. The company is purchasing the facility, which will allow it to expand to fill its entire 25,000 square feet. Blue Delta plans to renovate the facility, as well.
Founded in 2012 in Tupelo, the bespoke denim company, whose clients include artists and athletes, creates custom-fit, tailored blue jeans to each client’s specific measurements, operating by its motto “one size fits one.” Today, Blue Delta products are sold online and carried by more than 400 wholesale partners across the U.S., Canada and the UK.
Connor Industries locating operations in Coahoma County, Miss.
Boat manufacturer Connor Industries is locating operations in Clarksdale. The project represents a corporate investment of at least $8 million and will create 56 jobs.
Connor Industries’ new location will enable the company to manufacture and test boats year-round on the Mississippi River. The project involves the construction of a new 48,600-square-foot facility to house Connor Industries’ new Clarksdale operations, as well as public infrastructure improvements in north Coahoma County, including the construction of a new road over the Mississippi River levee and a river dock landing.
The Mississippi Development Authority is providing assistance for site development and infrastructure improvements. Substantive additional support is being provided through grants from the U.S. Economic Development Administration and Delta Regional Authority.
Based in Canada, Connor Industries’ product line includes welded aluminum commercial, luxury and emergency response vessels. The company expects to complete construction next year and plans to fill the 56 jobs shortly after completion. Mississippi Development Authority
North Carolina
Wolfspeed has a neighbor at the 1,800-acre Chatham-Siler City Advanced Manufacturing (CAM) Site
In the spring quarter, Wolfspeed topped off its semiconductor plant in Chatham County, N.C. The facility will produce 200mm silicon carbide wafers, significantly expanding Wolfspeed’s materials capacity by meeting the demand for next generation semiconductors critical to the energy transition and AI. Innovative Construction Group, which was acquired by national homebuilder PulteGroup (NYSE: PHM) in 2020, announced in the spring it is investing roughly $40 million in operations in Siler City.
John Deere expanding in North Carolina
John Deere confirmed in the spring it plans an expansion of its campus in Kernersville, N.C. (Forsyth County) with a $70 million, 380,000-square-foot expansion and add about 150 workers. The company will produce excavators at the plant that currently houses 600 employees.
Pennsylvania manufacturer lands in Greensboro, N.C.
Clearly Clean is coming to Greensboro with plans to hire about 80 people and invest nearly $25 million in a manufacturing facility in Greensboro, Gov. Roy Cooper announced in the spring quarter. The company makes recyclable plastic food trays for the meat and poultry industries.
South Carolina
Nucor Steel breaks ground on $425 million expansion in South Carolina
Nucor Steel Berkeley broke ground on the construction of a new galvanizing line in May. The $425 million investment will create more than 50 new full-time jobs, according to a news release. The new galvanizing line is expected to start up in mid-2025. Adding a new galvanizing line at the South Carolina sheet steel mill supports Nucor’s strategy to expand the company’s capabilities and grow its participation in the automotive and consumer durables markets, the release stated. The mill in Berkeley County produces flat-rolled steel which has hundreds of everyday uses, including parts for cars, water heaters, lawnmowers, appliances and more. Nucor Steel Berkeley also produces steel beams that are used as support structures in bridges and buildings.
Small EV maker to create jobs in South Carolina
Columbia Vehicle Group (Columbia), an electric vehicle manufacturer, announced it selects Aiken County for the company’s first South Carolina operation. The company’s $12.2 million investment will create 180 new jobs.
Part of the Nordic Group of Companies, Columbia manufactures pure electric vehicles for industrial and commercial markets under the Columbia and Tomberlin brands. The company’s products, which include golf carts, utility vehicles, maintenance vehicles and e-bikes, are distributed globally.
Columbia is relocating manufacturing operations from Florida and Wisconsin to Aiken County for closer proximity to customers and its supply chain. The company will purchase and upfit the existing 154,480-square-foot facility located at 2063 University Parkway in Aiken.
German industrial giant Siemens partnering on battery manufacturing ecosystem in South Carolina
Siemens is partnering with Kontrolmatik, a power systems integrator, to create a sustainable battery ecosystem in The Palmetto State. The collaboration is centered on a sustainable battery ecosystem to transition to a decarbonized energy system as it ramps up energy storage operations in the state and in North America.
Drywall manufacturer to establish first South Carolina plant
Southern Wall Products, a maker of drywall finishing products, is investing $23 million in a plant in Anderson County, S.C. The project will create 28 new jobs.
Tennessee
Oracle plans ‘world headquarters’ in Nashville
Software giant Oracle Corp. announced in the spring quarter it will build its ‘world headquarters’ on a 70-acre piece of property on the city's downtown riverfront. That was news to Austin officials, who captured the company’s U.S. headquarters in 2020 when Oracle moved from Silicon Valley. For now, it looks like the company will operate both campuses for now. The company says it is building a “park” in Nashville with “buildings in the park.” The $1 billion deal is expected to create 8,500 jobs.
BlueOval City coming to life in West Tennessee
Ford Motor Co. made a major announcement in the spring regarding its BlueOval City plant north of Memphis. Stamping, of workforce and environmental initiatives and confirmed that mass hiring for BlueOval City is scheduled to start next year.
Robotic training cells, conveyors, paint spray booths, and stamping press lines have been installed at what is called the Tennessee Electric Vehicle Center (TEVC) in rural Stanton, Tenn.
Hiring for hourly workers is set to begin in 2025, with Ford unleashing its BlueOval Learning workforce development plan to build up a local workforce in the meantime. Vehicles are expected to be delivered in 2026 from the massive plant.
PPG picks Loudon County, Tenn. for new $225 plant
Tennessee Gov. Bill Lee, Department of Economic and Community Development Commissioner Stuart C. McWhorter and PPG officials announced the company has selected Loudon as the location of its newest paint and coatings manufacturing facility.
PPG will invest a total of $225 million and create 129 new jobs in Loudon County through the project. The Loudon plant will be PPG’s first new U.S. manufacturing facility in the last 15 years and is part of the company’s greater investment to expand and innovate advanced manufacturing in North America.
Tennessee announces another major investment in broadband
Tennessee Gov. Bill Lee and Department of Economic and Community Development (TNECD) Commissioner Stuart C. McWhorter announced today the state will award $162.7 million in broadband and digital opportunity grants.
In total, these investments will provide broadband access and digital opportunity programs to more than 236,000 Tennesseans across 92 counties.
“Broadband is essential to all Tennesseans, and that’s why we are making strategic investments in our state’s broadband infrastructure and digital opportunity programs to create a pathway to education, job training and greater opportunity statewide,” said Gov. Lee. “I thank the Financial Stimulus Accountability Group for their continued support and management of these broadband dollars.”
With the announcement, TNECD has invested more than $715 million to expand the state’s broadband infrastructure, connecting more than 689,000 Tennesseans across 275,000 residential and business locations.
Texas
Giant industrial park underway near Samsung plant being built in the Austin suburbs
More than 1 million square feet of warehouse and distribution space is planned in Hutto, not far from Samsung Electronics Co. Ltd.'s sprawling chipmaking plant in nearby Taylor.
The site of the project is about 10 miles west of Samsung’s growing campus and about 20 miles north of Tesla Inc.’s massive gigafactory in eastern Travis County, both of which have spurred demand in the industrial market as their suppliers expand in the region.
Huge, 13,000-acre development outside Laredo, Texas set to redefine nation's busiest port
A 13,000-acre development is taking shape outside Laredo that will deliver thousands of new homes, commercial and industrial space – even an airport. The project, called Talise, is underway. It will boast a development lifespan about 30 years long and cost just shy of $7 billion, according to news sources.
Virginia
Veteran-owned data sciences company JDSAT to expand operation in Virginia
Governor Glenn Youngkin announced in the spring that JDSAT, Inc., a veteran-owned application development and data sciences firm, is investing $630,000 to expand its operations in Fairfax County. The company intends to invest in technical staff and analysts to support its growing artificial intelligence, cloud computing, and data science business. The project will create 60 new jobs.
Global clean energy manufacturer Topsoe to invest $400 million in Virginia
Topsoe, a Danish manufacturer and global leader in carbon emission reduction technologies, plans to invest more than $400 million to build a factory at Meadowville Technology Park in Chesterfield County. Pending Final Investment Decision, the company will manufacture advanced, energy-efficient Solid Oxide Electrolyzer Cells (SOEC) that are essential in the production of clean hydrogen at the facility. Federal tax credits from the U.S. Department of Energy under the Qualifying Advanced Energy Project Credit (Section 48C) will support the construction of the facility, which would be Topsoe’s largest U.S. investment. The project is expected to create 150 new jobs.
Southern Business & Development
8086 Westchester Place
Montgomery AL 36117
205.871.1220
| SECTIONS | MAGAZINE | OTHER NEWS |