Manufacturer to invest $40M for new plant in Johnston County

Posted on by Michael Randle

One of the hottest counties in North Carolina is about to receive tens of millions of dollars in the form of a major economic development investment.

Wisconsin-based Scot Industries Inc., a supplier of tubing products, is investing at least $40 million to build a manufacturing facility on 77 acres in the Town of Four Oaks in Johnston County near the convergence of I-95, U.S. 301 and U.S. 701, according to a press release. The move will create 21 jobs with an average salary of more than $60,000.

Chris Johnson, economic development director for Johnston County, said in a statement Tuesday that the investment is due to Johnston County’s workforce, highway infrastructure and business-focused leadership.

“Our value proposition hasn’t changed,” Johnson said. “We still offer a formidable range of industrial assets in a competitive cost structure.” Triangle Business Journal

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VinFast’s billionaire founder takes CEO role

Posted on by Michael Randle

The owner and founder of VinFast is taking more control of the company as the Vietnamese electric vehicle maker tries to establish itself in the American market, including building a huge factory in Chatham County.

Billionaire Pham Nhat Vuong, founder of VinFast (Nasdaq: VFS) parent Vingroup, is now the CEO of VinFast, the company announced late Friday. Vuong replaces Le Thi Thu Thuy, who will transition to chairwoman of the VinFast Board of Directors. Triangle Business Journal

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Engine company Cummins plans $580M investment in North Carolina

Posted on by Michael Randle

A multinational engine company is pouring hundreds of millions of dollars into an Eastern North Carolina city.

Cummins Inc. (NYSE: CMI), a designer, manufacturer and distributor of engines and generators, says it will invest $580 million into its Rocky Mount facility off Highway 301, the company announced Monday. The move will help Cummins work towards its long-term goal of emitting zero carbon emissions across its products, as the investment will go to installing new equipment and upgrading the assembly line “for next generation products,” the company said in a press release.

Cummins said the move will create roughly 80 jobs. The Nash County Board of Commissioners approved incentives for the project at a meeting Monday morning. Per an agenda item for the meeting, the county is appropriating the company 50 percent of the net increase in ad valorem taxes as a result of the company’s investment between April 2026 and April 2032. That appropriation will total roughly $7 million. Triangle Business Journal

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Amazon buys 430 acres in Covington, but remains vague about its plans

Posted on by Michael Randle

An Amazon.com Inc. subsidiary has acquired 430 acres in Covington, Georgia, according to property records.

Amazon Data Services Inc. paid $36 million for the property about 40 miles east of Downtown Atlanta on Interstate-20, the records show. It assembled the site in three separate transactions that closed Dec. 22.

Amazon is investing where other developments are clustering. Just west of its site is Cinelease Studios, a large media campus. About 10 miles away is the planned $5 billion Rivian Automotive Inc. factory and Meta Platform Inc.’s massive data center campus. I-20 has been called one of the country’s most affordable high-tech corridors, according to a 2023 report. Atlanta Business Chronicle

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United Launch Alliance launches first next generation Vulcan rocket in Florida: ‘An exciting new era’

Posted on by Michael Randle

United Launch Alliance successfully launched its next generation Vulcan rocket early Monday morning, the organization announced.

The rocket was launched at 2:18 a.m. on Monday from Space Launch Complex-41 at Cape Canaveral Space Force Station in Florida to mark what the ULA described as “the beginning of a new era of space capabilities.”

The Vulcan provides “industry-leading capabilities to deliver any payload, at any time, to any orbit,” the company said in a news release announcing the launch.

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“Vulcan’s inaugural launch ushers in a new, innovative capability to meet the ever-growing requirements of space launch,” ULA president and CEO Tory Bruno said. “Vulcan will provide high performance and affordability while continuing to deliver our superior reliability and orbital precision for all our customers across the national security, civil and commercial markets. Vulcan continues the legacy of Atlas as the world’s only high-energy architecture rocket.”

ULA said the rocket will leverage the world’s highest-performing upper stage to deliver on the company’s “industry-leading legacy” of reliability and precision. Its flexibility and endurance enable complex orbital insertions within the most challenging and clandestine orbits.

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“The successful development and flight of this evolutionary rocket is a true testament to the unrivaled dedication and ingenuity of our workforce,” Vulcan Development vice president Mark Peller said. “Vulcan’s purpose-built design leverages the best of what we’ve learned from more than 120 combined years of launch experience with Atlas and Delta, ultimately advancing our nation’s space capability and providing unprecedented mission flexibility.”

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The flight served as the first of two certification flights required for the U.S. Space Force’s certification process, ULA said. The second certification mission is scheduled to launch in the coming months and another launch of the first Vulcan mission to support national security space will be held in the summer.

ULA has sold more than 70 Vulcan launches thus far, including 38 missions for Amazon’s Project Kuiper and multiple national security space launch missions as part of the United States’ Phase 2 launch procurement.

Original article source: United Launch Alliance launches first next generation Vulcan rocket in Florida: ‘An exciting new era’

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Largest project yet could be coming to Port St. Lucie, but it remains shrouded in secrecy

Posted on by Michael Randle

PORT ST. LUCIE — A nearly 133-acre development could be coming to Southern Grove, the largest chunk of land within the area that already boasts major companies such as FedEx and Amazon.

As with other companies that have been lured to Port St. Lucie, this one has not been identified publicly, but its code name hints at its scope: Project Everest.

Adding to the secrecy and intrigue, a map included in city documents appears to show Project Everest includes a smaller area previously assigned to another code-named project: Project Apron. City documents also mention Project Green in connection with Project Everest.

The city approved site plans for Project Apron and Project Green in 2022. Each was to exceed 1 million square feet.

Details and impact of Everest

While the ultimate occupant of the land remains a closely guarded secret, documents shed some light on what could be coming.

The unidentified company is publicly traded, 40 years old and is on the Fortune 50 list. It is an international wholesaler, distributor and retailer that exceeds $200 billion in annual revenue. It has more than 300,000 employees worldwide with more than 800 locations supplied by 24 depots, according to an executive summary prepared for the city by the Economic Development Council of St. Lucie County.

The Economic Development Council projects the company would create 265 jobs with an average wage of $55,350 plus benefits. Total economic impact of construction is estimated at nearly $85 million, while the impact of the new jobs is estimated at about $198 million annually.

Two city votes on Monday

The city is to hold two votes Monday related to Project Everest.

At 11 a.m., the Government Finance Corp. — which comprises city councilmembers — is to vote on the sale of about 133 acres of city-owned land to developer JDN Enterprises for about $16.24 million.

At the same time, the city has plans to approve giving the buyer an infrastructure credit of almost $18.7 million to facilitate infrastructure development. The buyer is agreeing to fund infrastructure improvements as part of an agreed “Road Project” in excess of that credit, and plans to borrow $11,357,156.98 to do so, according to a draft of the contract.

Then, at 1 p.m., the City Council plans to vote on a package of tax breaks. In years one through five, the company would be exempt from all ad valorem taxes to the city and to St. Lucie County. In the sixth year that exemption drops to 90%, then to 80% in year seven, 60% in year eight, 40% in year nine and 20% in year 10.

The company also would be given a five-year grant of $2,100 per new employee by the county and a $3,500 per new job impact and mobility fee waiver by the city.

More: Port St. Lucie ready to spend $16 million for new Public Works Department building

More: 2024 could bring resolution to the ongoing legal battle between Port St. Lucie, Waste Pro

Expanding Southern Grove

Southern Grove is a 3,605-acre stretch of land acquired by the city in 2018. The city quickly made plans for what it dubbed its jobs corridor, splitting the land up into separate plots. In addition to industrial sites already in operation, the city has plans for commercial, retail and entertainment development in the future, according to its master plan.

The Project Everest property is a combination of several of those original lots.

The City Council meeting will be the first of the new year, and the first held under a new schedule.

Wicker Perlis is TCPalm’s Watchdog Reporter for St. Lucie County. You can reach him at wicker.perlis@tcpalm.com and 504-331-0516.

This article originally appeared on Treasure Coast Newspapers: Port St. Lucie to vote on land sale, incentives for a new development

 

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Brasfield & Gorrie to expand Birmingham HQ to support 85 new jobs

Posted on by Michael Randle

BIRMINGHAM, Alabama — Alabama Commerce Secretary Ellen McNair announced today that Brasfield & Gorrie, one of the nation’s largest privately held construction firms, plans to invest $18.9 million to expand its national headquarters in Birmingham, choosing to grow in its hometown over other major markets where it operates.

 

Brasfield & Gorrie’s expansion project will support the creation of 85 jobs as it adds a 28,500-square-foot, three-story building on its campus at 3021 Seventh Avenue South in the city’s Lakeview District, according to the Alabama Department of Commerce.

 

“Birmingham has been our home since day one, and we feel strongly about investing in the community, which has supported us throughout the years,” CEO Jim Gorrie said.

 

“The city, county and state’s support have been key to our steady growth. As we continue to grow and hire across our footprint, it’s important that we invest in our people and the place we call home,” he added.

 

The company provides general contracting, design-build, and construction management services for a wide variety of markets, including healthcare, commercial, science and technology, institutional, federal, municipal, industrial, mission critical/data centers, infrastructure, and water/wastewater treatment.

 

Brasfield & Gorrie has been based in the Lakeview District since its founding in 1964, and its headquarters there now houses over 550 employees. It has offices in 12 other cities, including Atlanta, Dallas, Miami, Charlotte, Nashville and Orlando, with a total headcount topping 3,700.

 

This investment is the latest in a string of expansions that have taken place on Brasfield & Gorrie’s campus during the past several years, and it will support the growth projected by Brasfield & Gorrie’s long-range strategic plan.

 

Pylon Building Group will build the expansion. Pylon is a full-service general construction company based in Birmingham. Currently a wholly owned subsidiary of Brasfield & Gorrie, Pylon was founded in January 2023 with the vision of becoming a minority-owned, diverse company.

 

‘LANDMARK BUSINESS’

 

Over nearly 60 years in business, Brasfield & Gorrie has become one of Birmingham’s most successful legacy business enterprises and completed many notable projects in the area.

 

These include Protective Stadium, City Walk BHAM, Grandview Medical Center, and the Pizitz building and parking deck renovations. Construction is under way on projects for UAB Medical West, Southern Research and Cooper Green Mercy Health Services.

 

The general contractor also has a Huntsville office, and recent work throughout the state includes a greenhouse and the Discovery Life Sciences headquarters at HudsonAlpha Institute for Biotechnology in Huntsville, the U.S. Courthouse in Huntsville, multiple Airbus projects in Mobile and ongoing work on Chart Industries manufacturing plant in Theodore.

 

“Brasfield & Gorrie is a landmark business that has done much to reshape Birmingham through its high-profile projects over the years,” Commerce Secretary McNair said. “It’s great to see this powerhouse company continue to deepen its roots in the city rather than selecting a larger market.”

 

The Birmingham project’s job creation will take place over five years, and the positions will pay an average annual salary of $74,000, according to Commerce.

 

LOCAL IMPACT

 

The Birmingham Business Alliance, which supported Commerce on the growth project, estimates that Brasfield & Gorrie’s expansion will provide an economic impact totaling $13.5 million over 20 years.

 

“Headquarters have a multiplier effect on our local economy and signal a thriving business environment to key stakeholders, such as business leaders, site selectors and prospective talent,” Birmingham Business Alliance President and CEO Steve Ammons said.

 

“Brasfield & Gorrie’s continued growth is exciting news for the Greater Birmingham Region, and our team is proud to once again support an expansion of their home base operations,” he added.

 

Brasfield & Gorrie expects for construction to begin soon, with a target completion date of summer 2025.

 

“Brasfield & Gorrie had humble beginnings in Jefferson County but is now nationally known as a leader in the construction industry and elevates our reputation across the country,” Jefferson County Commission President Jimmie Stephens said.

 

“It’s important as our community grows that we continue to support the legacy companies like Brasfield & Gorrie who literally built us. The Commission is proud to support their continued growth and expansion.” Alabama Department of Commerce

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Wind farms and carbon capture want the same turf off Louisiana’s coast. Who gets it?

Posted on by Michael Randle

A turf war on the southwest Louisiana coast is brewing between two industries that both aim to cut carbon emissions but say their multi-million dollar projects require the same stretch of offshore real estate.

Companies that plan to store tons of carbon dioxide under vast stretches of sea floor south of Cameron Parish are objecting to an overlapping development area Louisiana granted to a Danish offshore wind energy developer last month.

The two uses likely can’t coexist, the carbon-capture companies told the state Department of Natural Resources, which signed agreements for both uses on the same footprint along state-managed waters near Holly Beach and Creole.

Virginia-based Venture Global expressed its “strong objection” to the offshore wind agreement, saying it may “complicate or impede ongoing environmental assessments, testing and the rigorous underground (carbon) injection well permitting process.”

Castex Carbon Solutions of Houston, which was also granted a large carbon dioxide storage area near Cameron, wants the DNR to make clear that its project “takes precedent” over the proposed wind farm. NOLA.com

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Exclusive: Tesla expands to suburb northeast of Austin as footprint grows

Posted on by Michael Randle

Tesla Inc.’s growing footprint in the Austin area now includes a sizable facility in Hutto. But what it’s for remains unclear.

The Austin Business Journal visited the 36,000-square-foot site at 200 County Road 199 in the fast-growing industrial hub northeast of Austin in late December. The parking lot was full and a nondescript warehouse-style building was bustling with employees in construction vests and helmets, but there were no signs listing any companies and no clear indications of who was occupying it. The only traces it could be Tesla were a handful of the company’s electric vehicle charging stations out front.

But Elon Musk’s EV manufacturing and clean energy company is linked to the site in state filings, and it has been confirmed by Hutto officials. Tesla’s expansion to Hutto underscores the company’s wide-reaching plans for the region — as far south as San Antonio and, now, as far north as Hutto — as it continues buildout of its multibillion-dollar operation in eastern Travis County. The Hutto site is about 30 miles directly north of its gigafactory, which serves as the company’s headquarters, along State Highway 130. Austin Business Journal

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‘Housing, housing, housing’: Atlanta’ South Downtown revitalization hinges on it

Posted on by Michael Randle

Residential growth will be a linchpin for the revitalization of South Downtown, a sleepy neighborhood brimming with historic buildings but few people.

David Cummings and Jon Birdsong are shaping 10 blocks into a mixed-use community focused on startups. The Atlanta Ventures partners are banking on housing to help awaken the central business district, a thesis shared by a cohort of developers, civic leaders and local officials for years.

“Housing, housing, housing is critical for the future of South Downtown,” said Birdsong, who led a Tuesday tour of the area to roughly 100 residents, business owners and others interested in the project. Atlanta Business Chronicle

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