Bekaert Expands Manufacturing Facility in Van Buren, Arkansas

Posted on by Michael Randle

Bekaert Corporation is expanding its manufacturing facility in Van Buren, creating 38 new jobs in the region. Company executives, state officials, and local leaders gathered in Van Buren on Wednesday to announce the expansion.

As part of the expansion, the company is investing in the Van Buren factory to purchase new manufacturing equipment. This equipment will be used for supporting the electrical grid and telecommunications industries.

“Bekaert is thankful for the recognition and support of the AEDC, and many other leaders, to invest in the Van Buren community,” said Bryan Sullivan, vice president of steel wire solutions for Bekaert. “With this investment the community will see additional jobs, enhanced training and an advancement of manufacturing capabilities.  Bekaert is proud to support not just the local community but our national community as well.  The investment will be used to reenforce the backbone of the electrical grid, enhance access to renewable energy and bridge the digital divide in the US today.  Thank you to the AEDC and all the Arkansas leaders who have made this possible.”

A global leader in the steel wire transformation and coating technology sector, Bekaert produces steel wire and strands at the Van Buren facility. The company has operated in Van Buren since 1970. Arkansas EDC

Read More

Gov. Beshear: Kentucky No. 2 in South Central Region for 2024 National Economic Development Rankings

Posted on by Michael Randle

FRANKFORT, Ky. (May 9, 2024) – Today, Gov. Andy Beshear highlighted new recognition of Kentucky’s economic success as Site Selection magazine placed the commonwealth at No. 2 in the South Central region of its 2024 Prosperity Cup rankings. Kentucky also placed No. 8 nationally, maintaining a top 10 ranking in every year of the Beshear-Coleman administration.

“Kentucky has placed strongly in this and other recent rankings for economic growth, and that showcases what we already know: The commonwealth is the best place to do business,” said Gov. Beshear. “These rankings highlight the success we have had statewide and the major investment and job creation projects the state continues to attract. We still have work to do to meet our goals, but our efforts are gaining recognition at the national and international level. That success is due to the tremendous work of everyone who is a part of Team Kentucky.”

The Prosperity Cup recognizes the competitiveness of state-level economic development agencies and their success in landing capital investment projects according to data from 2023. It includes new and expanded facilities, total capital investment, new jobs created, corporate real estate rankings, state tax climate and the number of National Career Readiness Certificates per capita.

These rankings follow the announcement of 180 private-sector new-location and expansion projects in 2023.

Those projects totaled over $4.6 billion in announced investments and more than 8,500 jobs. Among the announced projects:

  • North American Stainless, which in January announced a $244 million expansion to its Ghent facility, creating 70 new full-time jobs in the Carroll County area.  
  • Toyota Motor Manufacturing, Kentucky, which in May committed to retaining 700 full-time Kentucky jobs and investing $591 million to establish the company’s first U.S.-assembled battery electric vehicle in Georgetown. 
  • Toyota Boshoku America, which in October celebrated the announcement of the company’s new $225 million “smart plant” in Hopkinsville, a project creating 157 new quality jobs for Kentuckians.  
  • Stellar Snacks, which in October announced the largest economic development project in West Louisville in over 20 years, a $137 million investment creating 350 full-time Kentucky jobs at the new pretzel manufacturing facility.
  • INFAC North America, which in June broke ground on a $53 million expansion of its automotive-related manufacturing facility in Campbellsville, creating 220 Kentucky jobs.

Earlier this year, the publication announced Kentucky’s strong placement in Site Selection magazine’s 2023 Governor’s Cup rankings, coming in third nationally in economic projects per capita and first in the South Central region. The commonwealth also secured the second spot in the South Central region for overall projects, building on the previous year’s strong rankings. Kentucky has placed in the top 3 nationally and atop the South Central region in the per capita rankings each year of the administration.

Kentucky’s top 10 placement in the 2024 Prosperity Cup rankings builds on the best four-year period for economic growth in state history.

Since the beginning of his administration, Gov. Beshear has announced more than 1,000 private-sector new-location and expansion projects totaling over $30.6 billion in announced investments, creating more than 52,500 jobs. This is the highest investment figure secured during the tenure of any governor in the commonwealth’s history.

The robust job creation has been accompanied by rising wages across the commonwealth. The average incentivized hourly wage in 2022 and 2023 topped $26 in consecutive years for the first time.

Gov. Beshear has announced some of the largest economic development projects in state history, which have solidified Kentucky as the electric vehicle battery production capital of the United States: Ford Motor Co. and SK On’s transformative $5.8 billion, 5,000-job BlueOval SK Battery Park in Hardin County; AESC’s $2 billion, 2,000-job gigafactory project in Warren County; Toyota’s $1.3 billion investment in Scott County; and INFAC North America’s $53 million investment in Taylor County, among others.

The Governor’s administration also secured the largest General Fund budget surplus and Rainy Day Fund, as well as the most jobs filled in state history. Last year, Kentucky set the record for the longest period with the lowest unemployment rates in state history.

Kentucky also secured rating increases from major credit rating agencies Fitch Ratings and S&P Global Ratings, and Moody’s Investors Service upgraded Kentucky’s credit outlook from stable to positive.

Gov. Beshear announced a “Supply Kentucky” initiative with the goal of boosting job growth, reducing costs and providing more security in the supply chains of our Kentucky companies.

For the full 2023 Prosperity Cup rankings and more information on methodology, visit SiteSelection.com.

Read More

Clark Gas plans distribution facility in project creating 40 jobs in Thomasville

Posted on by Michael Randle

THOMASVILLE, Alabama — Florence-based Clark Gas Co. Propane Cylinder Exchange plans to invest $10 million in a new distribution hub in Clarke County, creating up to 40 jobs over the next three years.

Clark Gas has purchased a 50,000-square-foot building, owned by the City of Thomasville’s Industrial Board and located in the South Thomasville Industrial Park, as the home of the new distribution center.

The new facility will serve seven to eight regional warehouses in as many as four states.

“We have been strategically planning this expansion for many years,” Jack Clark of Clark Gas said. “When we looked at a map of Southwest Alabama, we thought Thomasville would be the best location for our new distribution center.

Alabama Department of Commerce

Read More

U.S. Jobs Growth Set to Slow, Conference Board Says

Posted on by Michael Randle

U.S. jobs growth could stall in the second half of 2024, with signs of a slowing labor market, according to monthly gauge of employment trends

The Conference Board’s employment trends index fell to 111.25 in April from a downwardly revised 112.16 in March, the private-research group said Monday.

“The labor market is beginning to show signs of cooling following a period of very strong growth since the pandemic recession,” said Will Baltrus, associate economist at The Conference Board.

However, substantial job losses are unlikely to occur over the coming months, as employers are still facing labor shortages, Baltrus said.

The reading comes after Labor Department figures published last week that showed the U.S. added 175,000 more jobs in April, fewer than in March, with the unemployment rate ticking up to 3.9% from 3.8% in the prior month.

The Wall Street Journal

Read More

JLL brokers analyze Atlanta’s emergence as a leading tech hub

Posted on by Michael Randle

Recent JLL research found that Atlanta is one of the fastest-growing cities for the technology industry today. We asked JLL office tenant representation brokers Brooke Gothard and Patrick Baughman for their take on the state of tech in the metro area and where the sector is headed.

What trends are you seeing in the technology industry today?

Patrick Baughman: Right now, one specific trend we’re seeing is a push toward agile, flexible workspaces. Tech companies understand employees value choice and collaboration, so they create environments that support various work styles: things like open plan layouts, dedicated collaboration areas and comfortable breakout spaces.

Brooke Gothard: Sustainability is another trend we’re seeing across the market, but particularly for companies in the tech space. More and more, they’re prioritizing green buildings, energy-efficient data centers and renewable energy sources.

Atlanta Business Chronicle

Read More

‘People rather than equipment and robots’: Atlanta officials seek data center ban

Posted on by Michael Randle

A couple of Atlanta officials are leading an effort to prevent data centers from gobbling up prime real estate in the city.

Atlanta City Councilmembers Jason Dozier and Matt Westmoreland introduced two pieces of legislation on Monday that would ban data centers from being built within the BeltLine Overlay District and within a half-mile of transit stations.

“We want to make sure you have spaces that will be utilized by people rather than equipment and robots,” Dozier said.

Every councilmember is backing the legislation, which would not affect existing data centers nor those already approved for construction, Dozier said.

The proposal comes amid a data center boom sweeping across Atlanta. The region experienced a 211% increase in projects under construction between 2022 to 2023, the largest increase in the nation, according to a CBRE report.

This growth coincides with the increased digital demand and rise of artificial intelligence uses. Gordon Dolven, CBRE’s data center research leader, said the company considers these centers critical infrastructure like cell towers and fiber.

Dozier believes that data centers should be barred from claiming finite land around the BeltLine trail loop and MARTA rail stations that could otherwise be filled with affordable housing, green space and other appealing uses for walkable, transit-rich areas.

Atlanta Business Chronicle

Read More

Can a “not Charlotte” recipe revive a region?

Posted on by Michael Randle

Scott Kidd didn’t expect a terribly busy job when he became the town manager of Liberty, N.C., a onetime furniture and textile hub whose rhythms more recently centered on a yearly antiques festival.

Those quiet times, less than three years ago, soon became a whirlwind. Toyota announced it was building a battery factory on the town’s rural outskirts for electric and hybrid vehicles, and since then Mr. Kidd has reviewed ordinances, met with housing developers and otherwise sought to meet the needs of a seven-million-square-foot facility.

The flurry of activity reflects new investments in a region of North Carolina that has lagged behind: the Triad. The average income in Randolph County, which includes Liberty, is $47,000, and some jobs at Toyota will offer an hourly wage comfortably above that. More people moving into the area could breathe life into Liberty’s downtown.

But the potential dividends for the area — which includes Greensboro, Winston-Salem and High Point, in the center of the state — depend on equipping its workers with the skills needed for those new jobs. Mr. Kidd worried that many local workers lacked the education and skills to work at the plant.

The New York Times

Read More

Veteran-owned data sciences company JDSAT to expand operation in Virginia

Posted on by Michael Randle

RICHMOND, VA – Governor Glenn Youngkin today announced that JDSAT, Inc., a veteran-owned application development and data sciences firm, is investing $630,000 to expand its operations in Fairfax County. The company intends to invest in technical staff and analysts to support its growing artificial intelligence, cloud computing, and data science business. The project will create 60 new jobs.

“JDSAT, Inc., is a Virginia success story of a veteran coming home and starting his own company in one of the best business climates in the nation,” said Governor Glenn Youngkin. “This expansion in the artificial intelligence and data science sectors shows that the Commonwealth continues to grow in these rapidly evolving industries.”

“JDSAT’s decision to expand its operations in Fairfax County shows that Virginia is a strong, reliable business partner,” said Secretary of Commerce and Trade Caren Merrick. “The Commonwealth is a top state for tech talent that offers the location, infrastructure, and robust workforce that attract companies like JDSAT, and I congratulate all the partners involved on this expansion.”

VEDP

Read More

Global clean energy manufacturer Topsoe to invest $400 million in Virginia

Posted on by Michael Randle

RICHMOND, VA – Governor Glenn Youngkin announced that Topsoe, a Danish manufacturer and global leader in carbon emission reduction technologies, plans to invest more than $400 million to build a factory at Meadowville Technology Park in Chesterfield County. Pending Final Investment Decision, the company will manufacture advanced, energy-efficient Solid Oxide Electrolyzer Cells (SOEC) that are essential in the production of clean hydrogen at the facility. Federal tax credits from the U.S. Department of Energy under the Qualifying Advanced Energy Project Credit (Section 48C) will support the construction of the facility, which would be Topsoe’s largest U.S. investment. The project is expected to create 150 new jobs.  

To support the next generation of innovators, Topsoe also plans to launch the “Topsoe STEM Scholarship” program which will award five $10,000 one-year scholarships to high school seniors from Chesterfield County high schools. These scholarships will be awarded to eligible high school seniors seeking to continue their education in a STEM major in college, with the first awards given in the spring of 2025 for the next academic year. Topsoe plans to continue this scholarship program in subsequent years.

“I am thrilled that Topsoe has chosen the Commonwealth of Virginia for its new, state-of-the-art factory that will be key to scaling clean hydrogen production,” said Governor Glenn Youngkin. “Virginia’s robust workforce, strategic location, and top business climate provide the necessary tools for Topsoe to continue to grow as a leader in the clean energy industry. I also applaud Topsoe’s commitment to the next generation of Virginians with the launch of the Topsoe STEM Scholarship program that will drive the innovation pipeline for years to come.”

VEDP

Read More

A ‘slap in the face:’ Farmworker groups decry law preventing heat rules

Posted on by Michael Randle

Agriculture is the second-largest industry in Florida after tourism, and Central Florida has three of the state’s top 10 producing counties: Polk, Orange and Lake. Although states such as Washington, Minnesota, California, Oregon and Colorado have laws protecting those who toil in the heat, Florida lacks such standards for its 2 million outdoor workers.

A law that takes effect on July 1 will kill any chance that cities and counties can respond to the problem. Among other things, HB 433 prevents local governments from enacting heat protection requirements. Supporters say federal safety standards are sufficient and non-uniform local ordinances would burden employers.

The bill, backed by business groups and opposed by workers rights organizations, passed on the last day of the 2024 legislative session and signed into law by Gov. Ron DeSantis in April. The law’s passage was a “slap in the face” to farmworkers, said Jeannie Economos, who coordinates safety programs for the Farmworker Association of Florida. “Industry folks that pushed through this preemption bill … have been saying that employers already protect their workers,” said Economos. “If that were true, we wouldn’t be hearing complaints from workers all the time that they need protections.”

The State

Read More