Toyota Announces $282 Million Expansion Project in Alabama

Posted on by Michael Randle

Toyota yesterday announced a $282 million investment to expand plant production capabilities in Huntsville, Alabama. The project will create new drivetrain product production lines and more than 350 jobs.

Including this latest investment, the company has put more than $1.7 billion into its Alabama campus. The Huntsville facility is the carmaker’s largest engine producer in North America. The site has some 2,000 employees who assembled more than 770,000 engines last year.

Toyota Alabama supplies engines to seven North American Toyota vehicle plants. The engines are used in the Corolla, Corolla Cross, Highlander, RAV4, Sequoia, Sienna, Tacoma and Tundra.

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Alabama’s auto industry’s rapid growth fueled by billions in new investment

Posted on by Michael Randle

For Alabama’s economic future, the pivotal moment came on Sept. 30, 1993, when executives of Mercedes-Benz arrived in Tuscaloosa with an announcement that shocked the global business community.

In the months leading to that day, a Mercedes team had explored potential sites in at least 30 states as a home for the automaker’s first U.S. manufacturing facility. They came to Alabama that day to announce their decision.

For many, the news was a lightning bolt out of the blue. After all, Alabama had never produced an automobile and barely had any presence in the industry.

But Mercedes found what it wanted in a rolling 900-acre site, lined with pine trees, just outside of Tuscaloosa.

The initial investment back in 1993 was $400 million, with plans for 1,500 workers. The project quickly become much more than that; in fact, it came to represent a dividing line for Alabama.

For many, it became “Before Mercedes” — and “After Mercedes.”

Flash forward to 2023. Mercedes has invested over $7 billion in its Alabama operation through repeated expansions that have seen its workforce in Tuscaloosa County swell to over 6,300 people. Over 4 million vehicles have rolled down its assembly lines.

MadeInAlabama.com

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Clearly Clean, recyclable food-packaging company, confirmed as coming to Greensboro, N.C., with 80 jobs

Posted on by Michael Randle

The Pennsylvania-based maker of recyclable-plastic food trays for the meat and produce industries known as Clearly Clean is coming to Greensboro with plans to hire about 80 people and invest nearly $25 million in a manufacturing facility, Gov. Roy Cooper announced Tuesday.

The state was involved through a $200,000 grant from the One North Carolina Fund dependent on the company’s investing $24.9 million. The company, like others receiving grants from the fund, get no money up front and must meet targets regarding job creation and capital investment.

The grants require matching participation from local governments; both Greensboro City Council and the Guilford County Board of Commissioners are to consider local incentive packages, worth up to $344,171 and $373,855, respectively, this week. The city’s incentives expire if the jobs and investment aren’t made by the end of 2028, and the company stands to get $250 per job for any employee who lives in a defined impact zone or who is hired through NCWorks Career Centers.

Triad Business Journal

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BENTELER Announces $21 Million Expansion in Northwest Louisiana, to Create 49 Direct New Jobs

Posted on by Michael Randle

SHREVEPORT, La. – BENTELER Steel/Tube Manufacturing Corporation, a leading global specialist in metal processing, announced it is expanding its presence at the Port of Caddo-Bossier with the construction of a new threading facility for hot rolled seamless steel tubes. The $21 million investment will allow the company to streamline supply chains for customers in the oil and gas, energy and engineering sectors.

The company expects to create 49 direct new jobs while retaining 347 current positions at its Louisiana operations. Louisiana Economic Development estimates the project will result in 96 indirect new jobs, for a total of 145 potential new jobs in the Northwest Region.

“Economic development projects like this don’t only benefit the state’s economy through investment and job creation, but also by providing support to key industries in our state,” LED Secretary Susan B. Bourgeois said. “I thank BENTELER for seeing and utilizing Louisiana’s unique business advantages, like our port system and skilled manufacturing workforce, and reaffirming its commitment to our state and our people.”

The company plans to partner with leading connection specialists GB Connections and Hunting to provide customers in the oil and gas industry with domestically designed, melted, made and finished seamless products.

Louisiana Economic Development

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100 new jobs coming to St. Tammany, La. as $46M cold storage facility construction starts

Posted on by Michael Randle

Construction has begun on a massive, $46 million cold storage facility in Pearl River that promises 100 new jobs.

Elected leaders and St. Tammany Parish economic development officials are expected to gather at the groundbreaking Tuesday morning for the new Agile Cold Storage building on 10 acres near a nest of other large distribution facilities just off Interstate 59.

Based in Gainesville, Georgia, Agile blast-freezes and packs food for shipping. The Pearl River facility will be busy: The company expects to send about 100 containers of food shipments from the new facility to the Port of New Orleans for export every week, officials said when announcing the project this spring.

NOLA.com

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Jeff Bezos closes on ‘Billionaire Bunker’ mansion for $87 million

Posted on by Michael Randle

A trust controlled by billionaire Jeff Bezos, the founder of Amazon.com, paid $87 million for a waterfront mansion in Indian Creek Village.

The deal for the home in the village known as “Billionaire Bunker” for its many wealthy residents was expected since Bloomberg reported in April that Bezos had the home under contract.

Javier J. Holtz, the former CEO of Marquis Bank, and wife Andria A. Holtz sold the 12,135-square-foot home at 28 Indian Creek Island Road to the Sunshine Trust, with attorney John C. Sumberg as trustee. The trust is tied to Bezos. The price for the off-market deal equated to $7,169 per square foot.

South Florida Business Journal

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The 3,000 jobs North Carolina lost out on in 2023

Posted on by Michael Randle

North Carolina missed out on at least $4 billion in capital investment in 2023, money that could have brought more than 3,000 jobs to the state.

The actual total is likely more.

Records released by the North Carolina Department of Commerce show at least five companies were referred to the state by the Economic Development Partnership of North Carolina — prospects that, despite seriously considering the state for job-creating projects, went elsewhere for their expansions and relocations.

Triangle Business Journal

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Utility Plastics To Invest $20 Million In New Valdosta Facility, Creating Over 60 Jobs

Posted on by Michael Randle

Valdosta, GA—May 30, 2024—The Valdosta-LowndesCounty Development Authority (VLCDA) announced that Utility Plastics, LLC, will invest approximately $20 million to open a facility in Valdosta, creating more than 60 jobs in Lowndes County. 

Utility Plastics will customize the VLCDA’s 100,000-square-foot speculative building, which was completed in March and is located on 10 acres in the Westside Business Park.

“We are grateful that Utility Plastics decided to expand its operations in Valdosta,” said Brad Folsom, Chairman of the VLCDA Board. “Providing available sites, including ready-to-use building space, is a key part of the board’s responsibility. We anticipated the demand and invested in two spec buildings, creating quality jobs for our community.” 

“We are excited to announce Valdosta as the future home of our manufacturing facility, corporate offices, and world headquarters,” said Chris Corbett, CEO of Utility Plastics. “This move will bring competitive wages and comprehensive benefits to employees in the local community.”

Utility Plastics produces heavy-duty underground enclosures for power, water, and communication markets worldwide. As part of its initial startup phase, the company will manufacture an estimated 23 million pounds of plastics annually. 

According to Corbett, AgTech Recycling, LLC, Utility Plastics’ sister company, will provide most of the recycled resin used in the manufacturing process. To further boost the company’s growth, future production will include blown film for the agricultural and food processing industry.

“The bigger win is that we never leave our footprint on the environment,” Corbett said. “We are 100 percent committed to being a great steward to preserving the natural environment and eliminating the need to add to the waste stream in our manufacturing processes.”

Bruce Hayden,CEO of Featherridge, LLC, Utility Plastics’ parent company, said Valdosta was selected after an extensive and competitive search process.

“The development authority put their best efforts into enticing us to expand our company in Valdosta, we appreciate their assistance in helping us finalize our decision,” Hayden said. “Utility Plastics is bringing significant capital investments and jobs, and we desire to be a great support system to Valdosta and the region. Our strategic planning efforts are focused on long-term expansion for Utility Plastics and Featherridge.”

Andrea Schruijer, Executive Director of the VLCDA, said, “Utility Plastics’ decision to expand their manufacturing operation and corporate offices to Valdosta is exciting news for our community and region. This project highlights our dedication to making Valdosta an attractive destination for established businesses seeking new growth opportunities in South Georgia.”

Valdosta City Mayor Scott James Matheson added, “We are thrilled to welcome Utility Plastics to Valdosta. The investment and the job opportunities they are bringing will greatly benefit our community. This is a significant step forward in our efforts to foster economic growth and sustainability in our city. We look forward to a long and prosperous partnership with Utility Plastics and their commitment to environmental stewardship.”

“We are delighted that Utility Plastics has chosen to expand its manufacturing operations here in Lowndes County, Georgia,” said Lowndes County Chairman Bill Slaughter. “The continued creation of quality jobs for our residents is a top priority for local officials, and we wish Utility Plastics much success in Lowndes County.”

Read the original article here. 

For more information, contact:
Andrea Schruijer:  aschruijer@buildlowndes.com
Chris Corbett: chris.corbett@utilityplastics.net
Bruce Hayden: bruce.hayden@utilityplastics.net

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Amrep to create 170 jobs as it expands East Coast manufacturing facility in Salisbury

Posted on by Michael Randle

A manufacturer of waste collection trucks and equipment will more than triple the footprint of its local operations in Rowan County.

Amrep, a subsidiary of Charlotte-based Wastequip, is creating 170 jobs with the expansion of its East Coast manufacturing facility in Salisbury. The $21 million project calls for more than 80,000 square feet of new building space adjacent to its facility at 1405 Julian Road.

The expansion will bring Amrep’s total footprint there to over 120,000 square feet. Amrep currently employs about 50 workers at its Salisbury facility, company president Eric Mattson said.

Charlotte Business Journal

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Nucor to buy Wisconsin commercial door manufacturer Rytec for $565M in push past steelmaking

Posted on by Michael Randle

Nucor Corp. (NYSE: NUE) will make another acquisition in its push to expand beyond steelmaking.

The Charlotte steelmaker has agreed to acquire Wisconsin-based commercial door manufacturer Rytec Corp. for $565 million. Rytec has two manufacturing facilities in its home state with over 300 workers total. Its business includes rolling doors for industrial facilities, parking garages and car dealerships. Rytec also makes fabric doors for food/beverage storage and manufacturing uses.

It is unclear when the transaction is expected to close.

Charlotte Business Journal

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