December 2024

LSU Center for Energy Studies releases 2025 Gulf Coast Energy Outlook

Researchers at the LSU Center for Energy Studies have released their 2025 Gulf Coast Energy Outlook, and the takeaway is clear: a balanced, all-of-the-above approach to energy supply and decarbonization presents a generational opportunity for Louisiana and the Gulf Coast. The numbers are large. By 2030, the Gulf Coast region is projected to see:

$219 billion in liquefied natural gas investments

$151 billion for chemical and refining industries

$107 billion for energy transition projects

 

Alabama’s ag, food products sector surges with major investment projects

When the J.M. Smucker Co. celebrated the opening of a $1.1 billion manufacturing facility in McCalla recently, it marked another milestone in a long-running growth spurt that’s energizing Alabama’s key agriculture and food products sector. Since early 2021, more than 50 growth projects in this sector have launched statewide, paving the way for more than $3.5 billion in new investment and creating more than 2,500 jobs, according to Alabama Department of Commerce data.

 

The Carolinas are attracting workers and companies at a fast pace

North Carolina and South Carolina remain two of the fastest growing states in the U.S., according to new data from the Census. North Carolina added 164,800 people between 2023 and 2024. With the addition of Northern migrants and companies, the adds bring North Carlina’s population to just over 11 million, or the ninth-largest state ahead of Michigan and Georgia.

South Carolina has attracted all kinds of companies and people from “up North.” At 1.7 percent population growth, The Palmetto State grew faster than North Carolina from 2023 to 2024. Its population is nearing 6 million people. Florida and Texas remain at the top of state population growth in the U.S.

 

And the tech talent keeps moving to Florida, Texas, and elsewhere in the South

According to a study by CommercialCafe, the American South was the choice destination for innovation in its 2024 top 20 Southern metros report. The study ranked 2024’s top Southern metros with populations of more than 200,000. Also factored are technology job density, median earnings and overall quality of life. Some of the markets in the top 20 will surprise you. 

 

Top Southern tech clusters

Washington, D.C. (top metro for tech in the South)

Austin, Texas (the second-best tech metro in the South)

Houston, Texas

Dallas, Texas

Jacksonville, Fla. 

Orlando, Fla. 

Tampa Bay, Fla.

Palm Bay, Fla. 

Crestview, Fla.

Raleigh, N.C. 

Durham, N.C. 

Huntsville, Ala. 

Fayetteville, Ark. 

Charlotte, N.C.

Wilmington, N.C. 

Richmond, Va. 

Charlottesville, Va. 

Roanoke, Va. 

Atlanta, Ga. 

Source: CommercialCafe

 

Samsung finished with CHIPS ACT incentives. Investments in two Texas semiconductor facilities lower than expected

South Korea-based Samsung Electronics is downsizing its investments in two chip plants in the Austin, Texas MSA. The company’s federal incentives have paved the way for Samsung to expand its longtime plant in Austin and start up a new one just up the road in Taylor. Samsung officials confirmed total investments of $37 billion in the two plants, down from initial estimates of $45 billion. Still, both projects will rank high in the top 10 investment deals in calendar year 2024. 

 

Carolina Panthers secure as much $800 million to improve Bank of America Stadium

The Panthers are spending as much as $800 million in updates to their Charlotte stadium. The stadium opened in 1996. 

 

Bama spending $2 billion on Tuscaloosa stadium

For reference, The Alabama Crimson Tide is investing $2 billion in upgrades at Saban Field in Tuscaloosa. 

 

Vanguard buys Centene’s campus office in Charlotte

Pennsylvania-based Vanguard has purchased what was the planned 700,000-square-foot campus for Centene’s East Coast headquarters in Charlotte. Vanguard is consolidating its Charlotte operations and 2,400 employees to its new office digs. 

 

Nearly 6,000 acres on the fringe of D/FW are slated for data center development

Almost 6,000 acres have gone up for sale in Southern Dallas-Fort Worth. Sales pitches to data center operators have begun on several sites near Midlothian, Texas

 

New home sales drop in D/FW; prices fall

New sales of homes in Dallas-Fort Worth were essentially flat last month. However, in a sign that may continue, the three-month average of new homes was down by $4,500 from October. The area still claims to have the highest average home prices in the state of Texas.

 

UCF economist believes Central Florida could outpace the national economy in 2025

Sean Snaith, director of the University of Central Florida’s Institute for Economic Forecasting, recently maintained that Florida will outpace the national economy in growth and Central Florida will do even better. Snaith said, “I think the outlook is pretty positive for Central Florida. Epic Universe opens in 2025, the first major theme park opening in 25 years. Plus, Disney made an announcement it is spending $17 billion in Central Florida in tourism infrastructure,” Snaith said in an Orlando Business Journal report. 

 

Massive facilities from some of the world’s largest drug developers soon to be operational in the Research Triangle

North Carolina is one of the South’s major hubs for biomanufacturing, specifically in the Triangle and just outside of it to the west and east, such as Durham, Wilson County and elsewhere. The Triangle’s largest project underway is Novo Nordisk’s $4.1 billion expansion in Johnston County. The Danish drugmaker began building a new facility that will bring 1.4 million square feet of production space online. Other projects being built in and near the Triangle include Fujifilm Diosynth Biotechnologies is finishing its multi-billion project in Holly Springs, among several others underway. 

 

Triangle’s Wake County is busy working prospects in the winter

According to Michael Haley, executive director of Wake County Economic Development, the area he serves has 37 project requests and if all the deals are captured, they would equal 13,000 jobs and $7.6 billion in capital investments. Most of the working projects from Wake are in advanced manufacturing, the life sciences, office deals and headquarters. 

 

UNC-Chapel Hill exceeds $1.5 billion in research and development

For the first time, the University of North Carolina at Chapel Hill has earned a ranking of top 10 research universities nationwide. The university exceeded $1.5 billion in investments. Johns Hopkins University led the country at more than $3.8 billion in research expenditures. 

 

UPS expanding in Alamance County, N.C. 

Atlanta-based shipper UPS, with its largest worldwide hub in the South (Louisville), is expanding its regional distribution center in Alamance County, N.C. UPS will add 100,000 square feet at its facilities in Mebane, N.C. 

 

New chief to take over the Richardson, Texas Chamber job

Julie Snyder has been named CEO or the Richardson Chamber of Commerce. She was the CEO of the Kyle, Texas Chamber. 

 

Georgia swamp, the largest blackwater swamp in North America, sets up for mining rare metals

Georgia’s Okefenokee National Wildlife Refuge has been nominated to join the United Nations’ World Heritage List, the feds announced in December. The designation is a step forward to bring recognition to the swamp, just as a titanium mine is preparing to mine for titanium there. 

 

Hyundai announces it has launched 21 of its XCIENT heavy-duty, hydrogen fuel-cell trucks associated with its new massive complex in Bryan County, Ga. 

The hydrogen trucks will transport vehicle parts from suppliers across the South to Hyundai’s massive new EV complex near Savannah. 

 

With a loan from the Feds for $6 billion, Rivian will try again at building its EV facility in Georgia

A nearly $6 billion federal loan should help Rivian restart construction on a $5 billion, 7,500-job project east of Atlanta in Covington. At the time of Rivian’s announcement, it represented the largest development project by value in Georgia history. 

 

Dothan Warehouse creating 50 jobs in Alabama

In the fall quarter, Dothan Warehouse announced a $5.2 million expansion project in Houston County, Ala. The deal will create 50 jobs.

 

Gov. Sanders and AEDC’s Rural Services Division awards to 31 Arkansas communities

The Arkansas Economic Development Commission’s Division of Rural Services is investing in cities, counties and communities in the state. The nearly $400,000 in grants program helps Arkansas small towns pay through and expand services such as public safety, parks and recreation. 

 

Irving Tissue expanding in Georgia to the tune of $600 million

In the fall quarter, Gov. Brian Kemp announced that Irving Tissue will add 100 new jobs as part of a nearly $600 million expansion at its Macon, Ga., Facility. 

 

Big hiring deal in Kentucky

Australia-based Kitchen Food Co., a maker of premium ready meals, will locate a new world class prepared foods facility in Hopkinsville, which has been on a pretty good run the last few years. The $69 million investment is expected to create a whopping 925 jobs, the largest job deal in Christian County in over 20 years. 

 

Call center to create 115 jobs in rural Carter County, Ky. 

AT&T announced in December it will place a customer service project in Northeast Kentucky. 

 

Company hiring in rural Kentucky

Gov. Andy Beshear announced in December that Nexigen Communications, a privately-owned technology company, is investing over $4 million in Campbell County, Ky. The deal will create 75 jobs. 

 

Next generation agritech facility represents a $50 million investment in Pulaski County, Ky. 

Bosch Berries, an international grower of bell peppers, strawberries and blackberries, celebrated the grand opening of its new $50 million greenhouse operation in Pulaski County. Kentucky has captured several of these high-end greenhouses of late. Twenty-eight jobs are being created. 

 

Toyota to build new $922 million advanced paint facility at its plant in Georgetown, Ky. 

Toyota Motor Manufacturing Kentucky (TMMK) announced in December it will build a new advanced paint facility at its massive assembly plant in Georgetown, Ky. Gov. Andy Beshear said, “Kentucky and Toyota have formed a winning partnership over the last 40 years that has been transformational for families throughout the commonwealth.” 

The new $922 million facility will add 1 million square feet of capacity while decreasing carbon emissions by 30 percent. The project, scheduled to open in 2027, follows a $1.3 billion investment announced in 2024 at the Georgetown site to bring assembly of an all-new, three-row electric SUV to the U.S. market in 2026. Both plants directly support Toyota’s goal of zero carbon emissions by 2050. 

 

Swedish company to invest $109 million to locate facility in Kentucky

Cinis Fertilizer, a Sweden-based producer of green fertilizer, plans to locate a $109 production plant in Christian County. The project will generate 65 new jobs. 

 

L2 Aviation to establish operations in Boone County, Ky. 

L2 Aviation, an avionics design, manufacturing and engineering company, is investing over $12 million in a facility in Boone County, Ky. The deal is the company’s first in the Bluegrass State and will generate 250 Kentucky jobs. 

 

Chick-fil-A Supply to set up $100 million distribution center in Kentucky

Chick-fil-A Supply is building a new $100 million distribution center in Kenton County, Ky. The deal will create 178 jobs and will support about 150 Chick-fil-A retail locations. 

 

Land swap boosts 300-job project in McCracken County, Ky.

In November, Global Laser Enrichment (GLE) finalized a land transfer with the Commonwealth of Kentucky to build a proposed uranium enrichment project. GLE is acquiring 665 acres to build the facility that will house 300 workers. 

 

Shelbyville Battery Manufacturing announces largest project in Shelby County, Ky., history

In the fall quarter, Shelbyville Battery Manufacturing announced the largest project in Shelby County (Louisville MSA) history in the form of a state-or-the-art, 6-gigawatt hour battery cell and module plant in an existing 1-million-square-foot building in Shelbyville. The $712 million plant will house almost 1,600 new workers. 

 

Stellar Snacks cuts ribbon on largest economic project in West Louisville in over 20 years

In November, Stellar Snacks joined state and local officials to cut the ribbon on the company’s newest operation, a $137 million investment set to create 350 full time jobs. 

 

DHL Express to build $292 million plant in Northern Kentucky

German shipper DHL Express broke ground on a large facility in the fall quarter. The aviation maintenance operation will create 300 new jobs across the river from Cincinnati. 

 

Meta selects Northeast Louisiana as site of $10 billion artificial intelligence optimized data center

A large site east of Monroe and West Monroe, La., in Richland Parish was selected by Meta, the parent group of Facebook and Instagram. The $10 billion-plus deal will create 500 or more direct jobs and 5,000 workers at its peak to complete construction of the 4 million-square-foot facility. Gov. Jeff Landry calls the investment “a new chapter” for the state. Entergy Mississippi is the power generator of the massive data center. It will build three combined cycle combustion turbines with a capacity of 2,260 megawatts to serve the complex. 

 

Climeworks proposes $50 million investment to expand Louisiana’s direct air capture hub into Southwest Louisiana

Direct air capture (DAC) technology developer Climeworks announced plans recently to build a facility in Southwest Louisiana as part of the “Project Cypress” DAC Hub. Climeworks will mobilize an additional $50 million in private investments to match the initial $50 million in DOE funding. The company will hire 140 in the deal. 

Packaging maker investing $35 million to enhance and upskill its workforce at Hammond, La., plant

Graham Packaging, a leader in design and manufacturing of sustainable packaging, is investing $35 million to expand its production facility in Tangipahoa Parish. The expansion will modernize equipment and upskill its workforce of 100. 

 

Starke Aerospace expanding in Columbus, Miss. 

Global aerospace and defense company Stark Aerospace is expanding in Lowndes County to support a new contract with the U.S. Navy. The project will create at least 96 new jobs. Stark Aerospace recently was awarded a $61.454 million contract by the U.S. Navy for missile canister production in support of the Mark 41 Vertical Launching System, an on-board missile canister launching system. The contract includes additional options that, if exercised, could increase the cumulative value of the contract to $312.8 million.

 

Chemical manufacturer to invest $540 million in DeLisle-Harrison County, Miss.

PCC GulfChem Corporation is locating manufacturing operations in DeLisle. The project represents a corporate investment of at least $540 million and will create at least 84 jobs. In addition to the direct jobs being created by PCC GulfChem, hundreds of contractor and construction jobs will be created during the project’s initial phases.

 

Koch Foods expanding in Mississippi