Tate Selects Pocahontas, Arkansas as Site for New Manufacturing Facility

Posted on by Michael Randle

POCAHONTAS, Ark. (August 22, 2024) – A new manufacturing facility is set to be established in Pocahontas, Arkansas, bringing significant investment and job creation to the area. The project, led by Tate, a prominent market leader in raised access floors and data center management solutions, represents a significant investment and is expected to create 148 new jobs over the next five years.

“Tate is excited to expand our operations with a new production site in Pocahontas, Arkansas,” said Daniel Kennedy, Global President of Cloud Solutions and Innovation. “This move strengthens our commitment to delivering innovative solutions and supports our long-term growth. We are grateful for the strong local support as we begin this new chapter.”

The new manufacturing facility will focus on fabricating steel frames for data centers, further strengthening the local economy. Arkansas EDC

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Desi Fresh Foods to open plant in Frederick County, Va.

Posted on by Michael Randle

RICHMOND, VA — Governor Glenn Youngkin announced that Desi Fresh Foods, a leading U.S. producer of dahi, or South Asian yogurt, and lassi, a drinkable South Asian yogurt, will invest a significant amount of money to open a new manufacturing facility to Frederick County, Va. The new facility will create 56 new jobs and allow the company to significantly increase its current production while committing to source a significant amount of dairy ingredients from local Virginia farmers. The Commonwealth successfully competed with Delaware, New Jersey, Pennsylvania, and West Virginia for the project.  

“Virginia’s status as the top state for business enables opportunities like this, where we can bring in a leading food manufacturer that will support more routes to market for our dairy farmers while also strengthening the local economy and workforce,” said Governor Glenn Youngkin. “The Commonwealth is committed to business development and the growth of our largest private industry – agriculture. Desi Fresh Foods will be an asset to the community of Frederick County and its local dairies.” Virginia Economic Development Partnership

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Global venue operator tapped to plan out a new Washington Commanders stadium — and how to pay for it

Posted on by Michael Randle

The District has quietly hired a consultant via a sole-source contract to begin laying the foundation for how the city could build and finance a new stadium for the Washington Commanders.

The Office of the Deputy Mayor for Planning and Economic Development authorized the $565,000 deal with SMG Holdings LLC, an affiliate of entertainment facilities management firm ASM Global, in June.

Los Angeles-based ASM Global agreed to draw up preliminary site plans for the RFK Stadium campus, identify major sources of revenue and operating expenses for the “NFL Tenant,” summarize NFL stadium lease agreements to serve as a baseline for a new RFK stadium deal, and evaluate “potential local and regional funding sources that may be available to the District to fund Stadium development and construction costs.” Washington Business Journal

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AMD’s planned $4.9B acquisition of ZT Systems will impact planned factory north of Austin

Posted on by Michael Randle

Advanced Micro Devices Inc.’s $4.9 billion acquisition of a server builder is expected to have ramifications on one of the largest economic development projects in the region.

The Silicon Valley-based global semiconductor company that’s run from Austin by CEO Lisa Su on Aug. 19 announced it was acquiring New Jersey-based ZT Systems as part of a cash and stock deal as the company seeks to expand its portfolio of artificial intelligence chips. AMD has had a longtime presence in Austin, while ZT Systems has an engineering office and last year purchased a 435,000-square-foot building in Georgetown that it intends to use for manufacturing and could employ 1,500 people.

On a global scale, AMD’s acquisition of ZT Systems was billed as a way for the company to buff up its portfolio of AI chips and hardware to compete with Silicon Valley-based Nvidia Corp., according to Reuters. AI has high-computing requirements that require tech companies to cluster together chips to achieve necessary horsepower, which in turn makes the whole server system important. Adding ZT Systems allows AMD to make that process faster. Austin Business Journal

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Made in Georgia: Charting the state’s manufacturing boom

Posted on by Michael Randle

The Atlanta Business Chronicle will gather leaders in manufacturing and economic development for its first-ever Made in Georgia event.

Made in Georgia/Building Tomorrow’s Economy Today will be held from 3 to 6 p.m. on Oct. 2 at the Signia by Hilton Atlanta Georgia World Congress Center.

The event intends to highlight a historic transformation underway within Georgia’s manufacturing sector. Pat Wilson, commissioner at the Georgia Department of Economic Development, calls this boom the state’s second industrial revolution.

The numbers tell the story. At least 40 e-mobility projects were announced between July 2018 and 2023, bringing more than 30,000 jobs and $25 billion in investments, according to Georgia Economic Development. In recent years, Georgia has landed $28.8 billion in clean energy and tech projects, the most of any state.

The expansion of Georgia’s aerospace manufacturing sector is another economic win. Civilian aircraft remains the state’s leading export, totaling $8.2 billion last year. This one industry has grown by 36% over the past 10 years.

Manufacturing growth is also adding pressure to Georgia’s energy grid. Those issues are compounded by a rapid influx of data centers. Atlanta Business Chronicle

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