Chevron will shift HQ to Houston

Posted on by Michael Randle

Chevron Corp. (NYSE: CVX) is officially moving its headquarters from San Ramon, California, to Houston.

This marks the second supermajor oil company to relocate to the Houston area recently after Spring-based Exxon Mobil Corp. (NYSE: XOM) last summer finished its move from Irving to its Spring campus.

After the move, Chevron will become Houston’s second-largest publicly traded company, with just over $200 billion in 2023 revenue, a good deal behind Exxon. By that same count, Chevron would also be third overall in Texas, after Irving-based pharmaceutical distribution and health care services company McKesson Corp. McKesson had also relocated to Texas from California, in 2019.

The move is not a huge overhaul, given Chevron currently has about 7,000 employees in the Houston area and just 2,000 employees in San Ramon, but it is a bit unexpected, coming two years after the company relocated its San Ramon headquarters into a new building.

Dallas Business Journal

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Investor plans 1.2 million-square-foot data center in Henry County, Ga.

Posted on by Michael Randle

A land investment firm is pitching a second data center project in Henry County.

Red Wolf DCD Properties LLC proposed a 1.2 million-square-foot data center off of Strickland Road, according to documents filed with the state. The company plans to complete the project by 2028, and these initial plans represent 50% of the overall development.

Red Wolf filed an application for another data center project of the same size off of Rocky Creek Road, also in Henry County, in May.

The property is not yet under contract. Commercial real estate advisor and services provider Newmark is marketing the property.

Red Wolf did not respond to requests for comment on the two projects.

The applications are the latest in a number of new data center projects that are being planned in the southern part of metro Atlanta in the last couple of years.

CBRE told Atlanta Business Chronicle this summer that Atlanta is the third-most popular market for data center investors. And specifically, the southern part of the metro area is an attractive region for data centers due to the infrastructure and types of industrial developments that are located in those areas. The northern part of the metro area, on the other hand, is more residential.

Atlanta Business Chronicle

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Carbotech Group selects Spartanburg County for first S.C. project

Posted on by Michael Randle

COLUMBIA, S.C. – Carbotech Group (Carbotech), an equipment manufacturer for the sawmill industry, today announced it selects Spartanburg County to establish the company’s first South Carolina operation. The $3.4 million investment will create 35 new jobs.

Founded in Canada in 1987, Carbotech specializes in operational efficiency for sawing and planing mills. The company produces log handling and wood processing optimization equipment tailored to customer needs.

Carbotech purchased a 14,000-square-foot facility, located at 129 Old Airport Road in Roebuck, to manufacture and store the company’s equipment and spare parts. The new operation will also house a training center for employees.

The facility is online and expected to be fully operational by 2026. Individuals interested in joining the Carbotech team should visit the company’s careers page.

The Coordinating Council for Economic Development approved job development credits related to the project. The council also awarded a $100,000 Set-Aside grant to Spartanburg County to assist with the costs of building improvements.

South Carolina Department of Commerce

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Rowan County, Ky. adds a Build-Ready Site to spur job growth

Posted on by Michael Randle

FRANKFORT, Ky. — Highlighting momentum of the commonwealth’s site development and speed-to-market efforts, Gov. Andy Beshear announced a new Build-Ready location in Rowan County, positioning that community for investment and job creation.

The site includes 6.5 acres zoned for industrial use located along Kentucky Highway 801 South, just 2.5 miles from the Morehead-Rowan County Airport. On-site utilities include a four-inch gas line, eight-inch sewer line and a 16-inch waterline. Fleming Mason Energy provides electric service to the site, and natural gas is provided by Delta Natural Gas. The site is also serviced with fiber-optic lines for telecommunications. The industrial park has also benefited from state support through multiple Kentucky Product Development Initiative (KPDI) projects including infrastructure upgrades and land acquisition.

The Lane Report  

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Portal open for $1.1B in Kentucky high-speed internet expansion grants

Posted on by Michael Randle

FRANKFORT, Ky. — As part of his commitment to connect every home and business in Kentucky to high-speed internet, Gov. Andy Beshear said today the state has opened the Broadband Grants Management Portal for user registration.

Registering is the first step in applying for funds from Kentucky’s $1.1 billion allocation from the federal Broadband Equity, Access and Deployment (BEAD) Program. Internet service providers, local governments and nonprofits are all eligible.

“Every Kentuckian deserves access to high-speed internet, because it’s a necessity for work, school, health care and so much more,” Gov. Beshear said. “We are making sure everybody gets connected – and that they can get reliable service at an affordable price.”

The Lane Report

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Lt. Gov. Coleman Joins Jackson Purchase Distillery To Cut Ribbon on New $10 Million Rickhouse in Fulton County, Ky.

Posted on by Michael Randle

Lt. Gov. Jacqueline Coleman joined local officials and leadership from Jackson Purchase Distillery LLC, a startup bourbon producer, to celebrate and cut the ribbon on a new rickhouse at the company’s distilling operation in Fulton County, a $10 million investment that adds to the company’s $26 million expansion project announced in October 2022 that is creating 54 full-time jobs.

“The commonwealth’s bourbon and spirits industry has seen historic growth in the last few years and shows no signs of slowing down,” Lt. Gov. Coleman said. “Continued support from companies like Jackson Purchase Distillery, which has tripled its original investment in this project and nearly doubled the number of quality jobs, is a testament to the workforce, resources and business-friendly environment here in Kentucky. I am excited to celebrate this next step for the company and Fulton County community and look forward to their continued success.”

The new $10 million rickhouse will store 25,000 barrels and is an important step in Jackson Purchase Distillery’s continued expansion efforts at its Fulton County operation. In May 2021, the expansion project was first announced when the company’s management group acquired an unused distilling facility. In October 2022, the project grew from an initially planned investment of $8.76 million and 30 jobs to $26 million and 54 jobs. The increased scope of the project involved purchasing additional land, making various upgrades throughout the facility and constructing a new rickhouse for barrel storage. Since the project was announced, the company has produced more than 60,000 barrels for its growing consumer base.

Kentucky Cabinet for Economic Development

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Global Freight and Logistics Firm TQL Opens Second Louisiana Office, Creates Nearly 100 New Jobs

Posted on by Michael Randle

BATON ROUGE, La. – Total Quality Logistics (TQL), the second-largest freight brokerage in North America and one of the largest global third-party logistics firms, announced it is expanding its presence in Louisiana by establishing a new location in Baton Rouge.

The company expects to create 98 direct new jobs. Louisiana Economic Development estimates the project will result in an additional 146 indirect new jobs, for a total of 244 potential new jobs in the Capital Region.

“With six deep draft ports, six Class 1 railroads, seven primary airports and six interstate highways, no other state can compete with Louisiana’s infrastructure advantages,” LED Secretary Susan B. Bourgeois said. “I thank TQL for recognizing these key assets and their benefits for expanding businesses as they continue to strengthen our national supply chain.”

The new office is TQL’s second Louisiana venture. In 2017, the firm opened its New Orleans location, where it now supports more than 100 direct jobs. Louisiana Economic Development

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Livingston Parish Concrete Manufacturer Announces Expansion to Support National Infrastructure Projects

Posted on by Michael Randle

DENHAM SPRINGS, La. – Premier Concrete Products, Inc. announced it is investing up to $10 million to add a state-of-the-art precast concrete pipe production unit at its manufacturing facility in Livingston Parish. The expansion will allow the company to address the shortage of precast concrete products and support infrastructure and drainage projects across the southern United States.

The company is expected to create 33 new jobs over the next 10 years while retaining 90 current positions. Louisiana Economic Development estimates that the project will result in 50 indirect new jobs, for a total of 83 potential new jobs in the Capital Region.

“LED remains committed to supporting our established businesses as they continue to grow in size and success,” LED Secretary Susan B. Bourgeois said. “We are grateful for Premier Concrete Products continued investment in and commitment to Louisiana and our world-class manufacturing workforce.”

The new facility will include a fully automated concrete batching system that can produce multiple pipes and structures simultaneously, high-level curing capabilities and overhead cranes to maximize efficiency. The new unit is expected to be complete and fully operational by the end of the year.

Louisiana Economic Development

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Oklahoma Aerospace & Defense Sector Sees Impressive Interest, Success at Farnborough International Airshow 

Posted on by Michael Randle

Oklahoma Governor Kevin Stitt and Lt. Governor Matt Pinnell met with major aerospace companies at the Farnborough International Airshow. The aerospace and defense industry is Oklahoma’s second largest and fastest growing sector. In the last five years, Oklahoma attracted $1.9 billion in new investment for the state and more than 7,700 new jobs for Oklahomans.  

“This show is a great opportunity for us to take Oklahoma to the world,” said Governor Stitt. “We want everyone to know that Oklahoma is the most business-friendly state in the nation, and conversations we had at the air show made it clear that global companies are looking at Oklahoma to set up shop.” 

“It was an honor to represent Oklahoma at the largest airshow in the world, where we recruited new jobs and expanded our global aerospace footprint,” said Lt. Governor Pinnell. “There were industry leaders present from over 100 different countries, and we had great conversations about why Oklahoma is a valuable partner in doing business. We will continue to bring Oklahoma to the world and the world to Oklahoma.” 

Oklahoma was well represented with representatives from 15 Oklahoma-based aerospace and defense companies and nine organizations including higher education institutions, airports and economic development organizations.

Oklahoma Department of Commerce

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