Frito-Lay distribution center to bring 50 jobs, $8 million investment to one of Alabama’s poorest cities

Posted on by Michael Randle

A new distribution center is expected to bring 50 new jobs to one of Alabama’s poorest cities by June 2025.

The announcement came Monday by the Mobile Chamber that Frito-Lay North America, a division of PepsiCo. Inc., is building a 25,000-square-foot distribution center in the northwestern part of Prichard.

“This development underscores the economic vitality of our region and the strategic advantages we offer for logistics and distribution operations,” said Mobile Chamber president and CEO Bradley Byrne in a statement.

“We are excited about the job opportunities and economy growth this will bring.” AL.com

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Amazon’s economic impact on Kentucky, Indiana

Posted on by Michael Randle

Amazon.com Inc. is a massive company — currently ranking No. 5 in market cap in the U.S. at over $1.7 trillion and annual revenue of more than $600 billion.

And it’s had a big impact on Kentucky and Indiana as well.

Recently, the company released its annual economic impact report. Here’s what it revealed about its investments in the two states:

Kentucky

  • $43 billion — invested in Kentucky since 2010, including infrastructure and compensation to employees
  • $39 billion — added into Kentucky’s Gross Domestic Product
  • 22,000 — full- and part-time jobs created in Kentucky (as of January)
  • 50,300 — indirect jobs supported on top of direct hires in the state (based on Input-Output methodology developed by the U.S. Bureau of Economic Analysis)
  • 3,000+ — independent sellers — most of which are small and medium-sized businesses — in Kentucky, selling in Amazon’s store.
  • Amazon’s main investments in Kentucky include: 11 fulfillment and sortation centers; five delivery stations; one Air Hub; two Whole Foods Market locations; four solar farms; and one on-site solar location. Louisville Business First
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Giarratana reveals new name, renderings of 60-story Nashville tower

Posted on by Michael Randle

Three years after announcing his most ambitious project to date, Tony Giarratana is rebranding his 60-story tower.

“Paramount” will be the name of what is slated to be Tennessee’s tallest tower.

After using “1010” as the working name since 2021, Giarratana unveiled the new name and renderings of his latest Church Street project as pre-sales begin for the tower’s condo units.

“We were drawn to the name ‘Paramount’ because the tower will be the tallest in Nashville’s skyline upon completion and because it evokes an overwhelmingly positive feeling,” Giarratana told the Business Journal.Paramount, which will rise at 1010 Church St., was conceived when Giarratana responded to a request for proposal (RFP) to renovate the downtown YMCA facility with the opportunity to redevelop a portion of the larger property. Giarratana paid $26 million for the 0.71-acre site in 2022. Nashville Business Journal

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A Pittsburgh-based pharmacy company plans to open distribution center in Collierville, Tenn.

Posted on by Michael Randle

A Pittsburgh-based pharmaceutical manufacturing firm plans to open a new Collierville distribution center in the early first quarter of 2025 and eventually bring 120 jobs to the town.

PANTHERx Rare Pharmacy, state and local leaders made the official announcement Wednesday during an event at Collierville Town Hall. Jamie Stitt, assistant commissioner of business and workforce development for the state of Tennessee, said PANTHERx Rare Pharmacy plans to make a $4 million capital investment in Collierville.

“This company will complement and enhance the healthcare industry here in Collierville and across the state of Tennessee,” Stitt said. “We are very blessed to have a company of this nature here.”

PANTHERx, which was founded in 2011, is a leading rare disease specialty pharmacy. The company provides pharmacy services and related pharmaceutical product distribution to customers across the country. The firm has more than 600 employees primarily in Western Pennsylvania, according to David Loschinskey, chief operating officer of PANTHERx.

This is the company’s first Tennessee’s facility, and PANTHERx projects it will dispense 600,000 prescriptions over the next five years from the Collierville site at 280 Moore Lane. Memphis Commercial Appeal

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Florida’s wages continue to grow despite national decrease

Posted on by Michael Randle

A new ADP report shows that wage growth has been rising in Florida over the past year, and the median salary continues to increase for workers who have stayed in their roles for a year or more.

The financial services website released its monthly job report highlighting the salaries of the same cohort of almost 10 million individual employees over 12 months. The data shows that workers in Florida who have stayed in their jobs for at least 12 months saw their wages rise by 4.8% compared to the same time last year, with a median annual salary of $52,000. 

Florida ranked No. 40 among the 50 states in median pay last month. Massachusetts had the highest level at $74,100, which is more than 40% higher than Florida. Orlando Business Journal

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