Entergy delivers nearly $500M in economic impact for greater New Orleans region

Posted on by Michael Randle

Company’s actions strengthen communities, create jobs and boost the local economy

NEW ORLEANS, Jan. 4, 2024 /PRNewswire/ — The greater New Orleans region is enjoying nearly half of $1 billion dollars in economic benefits because the city is host to the corporate headquarters for Entergy, the city’s only Fortune 500 company. According to a recent study by Louisiana State University economist Dr. Loren Scott, Entergy’s total economic impact in New Orleans reached nearly $500 million in sales in the city in 2021.

“Entergy’s low-cost electricity is helping attract critical investments and is creating jobs making the company a significant economic engine for the economy,” said Rod West, Entergy’s group president of utility operations. “Our commitment can be felt throughout the state. For every job created at Entergy’s headquarters, 2.8 jobs are created elsewhere in the state and in New Orleans specifically, for every job created 1.4 jobs are created elsewhere in Orleans Parish’s economy.”

“Having Entergy’s headquarters located here in New Orleans makes a huge impact on our city’s economy, and on the state of Louisiana,” said Deanna Rodriguez, president and CEO of Entergy New Orleans. “We’ve always had a sense of that importance, and this study confirms it in hard numbers: Entergy’s headquarters being in the city creates jobs, it generates sales for local businesses, and it creates major tax revenue for the parish and the state.”

“We are truly fortunate to have Entergy as a partner in driving the region’s economy,” said Michael Hecht, president and CEO of Greater New Orleans, Inc. “Entergy not only provides reliable and affordable energy, but also supports thousands of jobs, hundreds of millions of dollars in sales and income, and millions of dollars in local charitable contributions. Havin Entergy’s corporate headquarters in New Orleans helps attract major companies into the region, and demonstrates success for existing businesses. Entergy is a true corporate leader who exemplifies the spirit of innovation, resilience, and generosity that makes Greater New Orleans uniquely great.”

Jobs supported by Entergy in New Orleans carried an average wage of $93,000. That is nearly 36% higher than the average annual wage of $68,000 in Orleans Parish.

As one of New Orleans’ largest taxpayers, Entergy pays more than $17 million in local taxes and has supported nearly $300 million in household income for New Orleans residents. This is almost as much as the total earnings of all workers in Orleans Parish’s oil and gas extraction sector (approximately $280 million in 2020).

Each dollar spent by Entergy ripples through the state’s economy, triggering employment, new income and spending in virtually every industry sector. In 2021, Entergy also had contributed nearly $4.1 million to more than 100 New Orleans non-profit partners and community organizations and over $9 million to other non-profits outside of New Orleans.

Entergy New Orleans recently announced plans to invest $1 billion in grid hardening projects for the city over the next 10 years.

Last fall, Entergy was recognized for the 16th consecutive year as a top utility driving economic development in the region.

At Entergy’s request, Loren C. Scott and Associates Inc. measured Entergy’s economic footprint in New Orleans and the state of Louisiana. Financial and operations data for the 2021 fiscal year formed the primary-source information for the analysis.

For highlights of Entergy’s economic impact in New Orleans, download this infographic. Read the complete Loren C. Scott and Associates impact study here.

About Entergy

Entergy New Orleans, LLC provides electricity to approximately 211,000 customers and natural gas to approximately 109,000 customers in Orleans Parish, Louisiana. Entergy New Orleans is a subsidiary of Entergy Corporation (NYSE: ETR), a Fortune 500 electric company. Entergy powers life for 3 million customers through our operating companies in Arkansas, Louisiana, Mississippi and Texas. We’re investing in the reliability and resilience of the energy system while helping our region transition to cleaner, more efficient energy solutions. With roots in our communities for more than 100 years, Entergy is a nationally recognized leader in sustainability and corporate citizenship. Since 2018, we have delivered more than $100 million in economic benefits each year to local communities through philanthropy, volunteerism and advocacy. Entergy is headquartered in New Orleans, Louisiana, and has approximately 12,000 employees. For the latest news from Entergy, visit the Newsroom.

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SOURCE Entergy Corporation

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Headed to the Pipeline: Louisiana Biotech Poised for Breakout Year

Posted on by Michael Randle

Louisiana’s 2024 biotech landscape will be marked by growth, collaborative partnerships and product launches. That’s according to a recent survey of Louisiana researchers, physicians and CEOs, who point to secured funding and federal-level approvals that will drive the year’s success as well.

2024’s growth will see expansions to scale operations and enhanced use of innovative technologies to personalize treatment. Key partnerships and collaborations will include further work toward a nationally recognized center for cancer research. As far as commercialization, a number of the state’s entities are working towards product launches with a strategic approach to global market expansion.

From neuroscience and cancer to advanced imaging and obesity treatments, Louisiana’s life science entities are set to collectively contribute to shaping healthcare outcomes in the state and beyond in 2024.

AxoSim
Dr. Lowry Curley, Co-founder and CEO
New Orleans
AxoSim.com

I’m excited to continue the integration of our new team and facilities in Minnesota. The two locations and additional scientific team members allow for continued scaling and growth of our cutting-edge neuroscience platforms.

We will be launching a Series B fundraiser in 2024, focused on driving AxoSim’s growth. This will focus on everything we need to scale, starting with facilities and technology automation. We will also continue to build out our business development organization and expand our commercial portfolio through partnerships and collaborations. Last, we want to focus on expanding our technical resources through new platforms and capabilities as well as expertise.

BioInfo Experts
Susanna Lamers, CEO and Founder
Thibodaux
Bioinfox.com

September 2023 was an exciting month for BioInfo Experts, as we received FDA Small Business Innovation Research (SBIR) funding to advance next-generation pathogen sequencing for the adeno-associated viral vector manufacturing industry. One week later, the Biomedical Research and Development Authority (BARDA), part of the Administration for Strategic Preparedness and Response (ASPR) within the U.S. Department of Health and Human Services (HHS), awarded us a three-year purchase order to assist with genomic sequencing of SARS-Cov2 genomic variants in support of the Project Next Gen program, which aims to accelerate and diversify vaccine and therapeutics products through clinical trials for future commercial availability. These important projects provide sustainability, highlight our advanced data security systems, expand our AWS footprint and software capabilities, and will lead to additional growth in related industries. We are especially proud of these achievements, and celebrate that these projects bring significant federal revenue to south Louisiana, a region severely impacted by hurricanes and the pandemic.

Other exciting news in south Louisiana is the forthcoming new Bayou Region Business Incubator which will open in January 2024. As a board member, I hope my experience growing a successful biotech company in Louisiana can inspire other new STEM-related businesses in the region.

Center for Molecular Imaging and Therapy 
Dr. Stephen Lokitz, Interim Executive Director
Shreveport
CMITLa.org

BRF’s Center for Molecular Imaging and Therapy (CMIT) plans to begin manufacturing 18F-FDG at its new facility in 2024 and will begin the development, manufacturing and introduction of additional non-FDG radiopharmaceuticals. CMIT’s state-of-the-art facility was envisioned to combine manufacturing, research and clinical activities under one roof. Completion of this transition is planned for the coming year.

Additionally, CMIT will acquire and install a new PET/CT scanner, which will provide cutting-edge clinical imaging and advanced capabilities necessary for research activities.

CMIT is hiring for several new positions that have been created due to the expansion of the program, with the most critical being the Director of Research, which will lead CMIT’s research program. This program will entail basic science laboratories, a microimaging laboratory, a radiochemistry laboratory, radiopharmaceutical manufacturing and translational imaging to become a one-stop shop for radiopharmaceutical research and development.

Edward Via College of Osteopathic Medicine
Dr. Savanah Newell, Discipline Chair for Anatomical Sciences
Monroe
VCOM.edu/locations/Louisiana

The year 2024 is certainly shaping up to be a milestone year in the life of not only the VCOM-Louisiana campus, but also the state of Louisiana. In May, we will graduate our very first class of osteopathic physicians in the first osteopathic graduation ceremony in the history of the state. These brand-new physicians will then enter a variety of residencies, the majority of which will likely be in primary care specialties, if trends continue from other VCOM campuses.  We anticipate that many of these students will return to Louisiana and the Delta region to practice medicine after attending residency.  Historically, VCOM graduates have been the driving force behind significant changes in access to healthcare in the same areas where they received their education.

Life Recovery Systems
Matt Center, CEO
Alexandria
Life-Recovery.com

In 2024, we will begin the randomized portion of our rapid cooling stroke patients with the ThermoSuit study. The completion of this study should clear the way for FDA approval of rapid cooling with the ThermoSuit in stroke patients.

Louisiana Cancer Research Center
Dr. Joe Ramos, Director and CEO
New Orleans
LouisianaCancerCenter.org

The real work begins now that we have statewide alignment and an agreed-upon path forward for an NCI Designation application. We are still a few years from filing our initial application, but the people of Louisiana will benefit from the work it will take to get there.

LSU Health New Orleans
New Orleans
Dr. Steve Nelson, Interim Chancellor
LSUHSC.edu

Our most exciting initiative in 2024 will be our laser-focused efforts to accelerate attainment of the first National Cancer Institute (NCI) Designated Cancer Center in Louisiana.  Recently, LSU Health New Orleans joined with LCMC Health, Louisiana Cancer Research Center (LCRC) and Tulane to align our common efforts around the prevention, detection and treatment of cancer for all our citizens, and to designate LSU Health New Orleans as the applicant institution for NCI designation. LSU Health New Orleans and LCMC Health previously had each committed $50 million to the LSU Health-LCMC Health Cancer Center; collectively, now, the partners expect even more philanthropic, corporate, state and federal support to expand cancer-focused research and multidisciplinary care programs, address critical health disparities in our population and support Louisiana’s journey to NCI designation.

Obatala Sciences
Dr. Trivia Frazier, President, CEO and Co-Founder
New Orleans
ObatalaSciences.com

Looking ahead, we are most excited about our upcoming partnerships, and we are thrilled about the upcoming launch of our newly commercialized ObaCell® Obesity-on-a-Chip technology that will be offered initially as a service to customers who are looking to test the toxicity, safety, and efficacy of their therapies targeting obesity and diabetes. This technology will bring tremendous value to our product and services portfolio, and we are excited  to expand our existing partnerships with large pharma and explore new partnerships globally. This is ever so crucial, given the surge in weight loss therapies in an effort to combat the growing obesity epidemic and its impact on the world.

Oleolive
Kiley Grant, CEO
Shreveport
Oleo.live

With 2023 having been a breakout year for us, 2024 is primed to be a year of explosive growth and exciting research outcomes. We have dozens of independent research contracts that will begin to produce findings in the first half of 2024, incredible opportunities to take on new projects, a fast-growing product that is generating consequential revenue and a built-out team that is starting to get their feet underneath them.

However, there is a black cloud hanging over us that many in the industry are experiencing, and that is the new rules in Section 174 of the tax code that change how R&D companies amortize R&D expenditures. In essence, under the new rule, we will have to amortize our research expenditures over five years instead of in the year they were incurred. We don’t have a full grasp on how this is going to affect us, and whether it will stifle the rate at which we can expend funds on R&D. It is a big unknown that we feel could have a big impact.

That said, we are aware of our exposure to the new rules and have spent the bulk of 2023 developing a sustainable revenue generation machine that is independent of R&D so that we can mitigate our exposure to the rules. We plan to grow in 2024 by whatever means necessary and hope to have a real economic impact in our region by continuing to hire people with advanced degrees to perform impactful disease research.

Pennington Biomedical Research Center
Dr. John Kirwan, Executive Director
Baton Rouge
PBRC.edu

Our research is at the international forefront of breakthroughs in health and wellness, delivering solutions from cells to society. Pennington Biomedical researchers continue their work to discover more about the triggers of obesity and diet-related chronic diseases.

It is important to know that obesity is a disease that affects over 115 million Americans and is linked to more than a dozen forms of cancer, as well as many chronic diseases. Every community across the country is impacted by obesity. The good news is that treatments like those researched and developed at Pennington Biomedical are available.

Treatment of obesity depends on disease severity. Available options include lifestyle interventions such as diet and physical activity, medications and surgery for the more severe cases. One of Pennington Biomedical’s own, Dr. Amanda Staiano, served on the American Academy of Pediatrics’ national committee to create the clinical practice guidelines on evaluation and treatment of children and adolescents with obesity released earlier this year.

The biggest scientific advancement in this area in recent years has been the availability of new weight-loss medications, most of which have gone through clinical trials here at Pennington Biomedical. We anticipate more of those medications to become available in the near future, and when managed under a physician’s supervision, they can be life-changing for many people living with obesity.

An important concern surrounding these drugs, however, is making sure that access is there for people who need them the most. We need increased access and availability, while also keeping the treatments affordable. Pennington Biomedical is grateful to Louisiana’s congressional leaders, who are supportive of this research. Senate Bill 2407, the Treat and Reduce Obesity Act, introduced by Sen. Bill Cassidy, M.D., and pending in Congress, seeks coverage under Medicare Part D for FDA-approved medications to treat obesity.

South Rampart Pharma
Dr. Hernan Bazan, CEO
New Orleans
SouthRampartPharma.com

As we step into 2024, we are keenly focused on continuing the clinical development for SRP-001 with the right partnerships. We are also working hard on a high-impact paper in the highly peer-reviewed journal “Nature,” describing the mechanisms for pain relief. Moreover, we are closely monitoring NIH funding trends, as they could significantly impact the landscape for novel analgesic development. Our goal for 2024 is to continue leading in the development of safer, more effective pain management solutions, leveraging our strong IP portfolio and research capabilities.

Tides Medical
Joe Spell, CEO
Lafayette
Tidesmedical.com

There are nearly 4 million people in the U.S. suffering from difficult-to-heal, chronic wounds. When left untreated, these wounds can lead to life-altering, even deadly consequences like limb amputations, which occur every 20 seconds. The big picture in wound care is that we need to treat these wounds before they cause life-threatening amputations. Lower limb amputations have a five-year prognosis as deadly as pancreatic or lung cancers.

Tides Medical’s purpose is to lessen the societal impact of chronic wounds and we look forward to doing so in 2024 with not one, but two advancements in wound care treatments. Wound care as an industry has not been incredibly innovative in the last several years. We’re poised to change that with our R&D team, which is planning to release new amniotic products that will further our mission in revolutionizing access to regenerative medicine.

Additionally, we are excited for a new partnership with an innovative regenerative medicine platform that uses AI, a 3D printer and a patient’s own tissue to produce a graft. Once considered a futuristic ideal, personalized medicine is now here, and we’re going to be one of the first to realize the potential of treating a patient with their own adipose tissue.

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Gov. Beshear: Crown Verity To Expand Manufacturing Operations in Bowling Green With $9.7 Million Investment Creating 73 Full-Time Jobs

Posted on by Michael Randle

FRANKFORT, Ky. (Jan. 4, 2024) – Today, Gov. Andy Beshear announced continued momentum within Kentucky’s manufacturing sector as Crown Verity USA Inc., a Canadian-owned grill and cookware maker, will expand its operation in Warren County with a $9.7 million investment, creating 73 quality Kentucky jobs.

“Kentucky’s business-friendly ecosystem, prime location and access to resources make it an ideal destination for companies to locate, expand and thrive,” said Gov. Beshear. “The decision by Crown Verity’s leadership to not only expand here but also consolidate the company’s fabrication operation in Kentucky is a testament to their trust and belief in what this great state has to offer. I want to thank the company’s leaders and wish Crown Verity continued success in Bowling Green.”

The expansion will see Crown Verity increase its manufacturing capabilities and consolidate its fabrication operations to the Bowling Green location. The project will expand the facility by 5,000 square feet, which will bring the total operational space of the building to 65,000 square feet and allow for additional equipment and workers.

“Crown Verity is excited to grow alongside the Bowling Green community. We are very appreciative of all the support from the state and local community,” said Andy Incitti, Crown Verity president. “Crown Verity started as a small distribution company, and now, over 32 years later, it’s grown to become one of the best outdoor grill manufacturers in the world, and we are thrilled to continue that tradition in Bowling Green.”

Crown Verity USA Inc. is a subsidiary of Crown Verity Inc., a leading manufacturer of high-performing outdoor commercial and residential cooking equipment that is based in Brantford, Ontario, Canada. The company has served the American and Canadian foodservice, industrial and home markets since 1990.

Bowling Green Mayor Todd Alcott looks forward to the company’s increased business and continued partnership with the community: “We celebrate with Crown Verity on this new facility expansion. Crown Verity’s global footprint is seen right here in Bowling Green; we are proud to have them here and are excited for their continued investment and growth.”

Warren County Judge/Executive Doug Gorman noted the positive impact the project will have on Bowling Green and the surrounding region: “This expansion will have a great economic impact in Southcentral Kentucky. We are grateful for businesses like Crown Verity that continue to invest in our community and our economy.”

Ron Bunch, Bowling Green Area Chamber of Commerce president and CEO, welcomes the company’s expansion and new job opportunities it will bring to the area: “It’s always exciting when a first-class company like Crown Verity surpasses their initial investment and job creation here in Bowling Green. The impact an additional 73 full-time jobs will have on Warren County will improve the quality of life for many in our community.”

Crown Verity’s investment and job creation build on the best four-year period for economic growth in state history.

Since the beginning of his administration, Gov. Beshear has announced nearly 1,000 private-sector new-location and expansion projects totaling over $28.7 billion in announced investments, creating 51,265 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 $591 million 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.

Site Selection magazine placed Kentucky first in the South Central region and top 5 nationally in its 2023 Prosperity Cup ranking, which recognizes state-level economic development agencies for their success in landing capital investment projects.

Gov. Beshear has also 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.

To encourage investment and job growth in the community, the Kentucky Economic Development Finance Authority (KEDFA) in October 2023 preliminarily approved a 15-year incentive agreement with the company under the Kentucky Business Investment program. The performance-based agreement can provide up to $1.5 million in tax incentives based on the company’s investment of $9.7 million and annual targets of:

  • Creation and maintenance of 73 Kentucky-resident, full-time jobs across 15 years; and
  • Paying an average hourly wage of $44, including benefits across those jobs.

By meeting its annual targets over the agreement term, the company can be eligible to keep a portion of the new tax revenue it generates. The company may claim eligible incentives against its income tax liability and/or wage assessments.

In addition, Crown Verity can receive resources from Kentucky’s workforce service providers. Those include no-cost recruitment and job placement services, reduced-cost customized training and job-training incentives.

For more information on Crown Verity, visit crownverity.com.

A detailed community profile for Warren County can be viewed here.

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Gov. Beshear: Crown Verity To Expand Manufacturing Operations in Bowling Green With $9.7 Million Investment Creating 73 Full-Time Jobs

Posted on by Michael Randle

FRANKFORT, Ky. (Jan. 4, 2024) – Today, Gov. Andy Beshear announced continued momentum within Kentucky’s manufacturing sector as Crown Verity USA Inc., a Canadian-owned grill and cookware maker, will expand its operation in Warren County with a $9.7 million investment, creating 73 quality Kentucky jobs.

“Kentucky’s business-friendly ecosystem, prime location and access to resources make it an ideal destination for companies to locate, expand and thrive,” said Gov. Beshear. “The decision by Crown Verity’s leadership to not only expand here but also consolidate the company’s fabrication operation in Kentucky is a testament to their trust and belief in what this great state has to offer. I want to thank the company’s leaders and wish Crown Verity continued success in Bowling Green.”

The expansion will see Crown Verity increase its manufacturing capabilities and consolidate its fabrication operations to the Bowling Green location. The project will expand the facility by 5,000 square feet, which will bring the total operational space of the building to 65,000 square feet and allow for additional equipment and workers.

“Crown Verity is excited to grow alongside the Bowling Green community. We are very appreciative of all the support from the state and local community,” said Andy Incitti, Crown Verity president. “Crown Verity started as a small distribution company, and now, over 32 years later, it’s grown to become one of the best outdoor grill manufacturers in the world, and we are thrilled to continue that tradition in Bowling Green.”

Crown Verity USA Inc. is a subsidiary of Crown Verity Inc., a leading manufacturer of high-performing outdoor commercial and residential cooking equipment that is based in Brantford, Ontario, Canada. The company has served the American and Canadian foodservice, industrial and home markets since 1990.

Bowling Green Mayor Todd Alcott looks forward to the company’s increased business and continued partnership with the community: “We celebrate with Crown Verity on this new facility expansion. Crown Verity’s global footprint is seen right here in Bowling Green; we are proud to have them here and are excited for their continued investment and growth.”

Warren County Judge/Executive Doug Gorman noted the positive impact the project will have on Bowling Green and the surrounding region: “This expansion will have a great economic impact in Southcentral Kentucky. We are grateful for businesses like Crown Verity that continue to invest in our community and our economy.”

Ron Bunch, Bowling Green Area Chamber of Commerce president and CEO, welcomes the company’s expansion and new job opportunities it will bring to the area: “It’s always exciting when a first-class company like Crown Verity surpasses their initial investment and job creation here in Bowling Green. The impact an additional 73 full-time jobs will have on Warren County will improve the quality of life for many in our community.”

Crown Verity’s investment and job creation build on the best four-year period for economic growth in state history.

Since the beginning of his administration, Gov. Beshear has announced nearly 1,000 private-sector new-location and expansion projects totaling over $28.7 billion in announced investments, creating 51,265 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 $591 million 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.

Site Selection magazine placed Kentucky first in the South Central region and top 5 nationally in its 2023 Prosperity Cup ranking, which recognizes state-level economic development agencies for their success in landing capital investment projects.

Gov. Beshear has also 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.

To encourage investment and job growth in the community, the Kentucky Economic Development Finance Authority (KEDFA) in October 2023 preliminarily approved a 15-year incentive agreement with the company under the Kentucky Business Investment program. The performance-based agreement can provide up to $1.5 million in tax incentives based on the company’s investment of $9.7 million and annual targets of:

  • Creation and maintenance of 73 Kentucky-resident, full-time jobs across 15 years; and
  • Paying an average hourly wage of $44, including benefits across those jobs.

By meeting its annual targets over the agreement term, the company can be eligible to keep a portion of the new tax revenue it generates. The company may claim eligible incentives against its income tax liability and/or wage assessments.

In addition, Crown Verity can receive resources from Kentucky’s workforce service providers. Those include no-cost recruitment and job placement services, reduced-cost customized training and job-training incentives.

For more information on Crown Verity, visit crownverity.com.

A detailed community profile for Warren County can be viewed here.

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Peachtree City medical device manufacturer expanding with $88M investment, will bring 200 new jobs

Posted on by Michael Randle

PEACHTREE CITY, Ga. (Atlanta News First) – A medical device manufacturer in Peachtree City is expanding and bringing millions in investments and hundreds of jobs with it, Gov. Brian Kemp announced Thursday.

Gerresheimer, which is a manufacturer for the pharma and life science industry, is expanding its manufacturing operations. The manufacturer will invest $88 million and create 200 new jobs for Fayette County.

Gerresheimer’s current facility is already in the middle of expanding. The new facility will be at Southpark International Industrial Park. Medical devices, like autoinjectors, will be produced at the new facility.

“This project is a prime example of the exciting growth of the life sciences industry in our state, with companies like Gerresheimer bringing career opportunities to all four corners of Georgia,” Kemp said. “Employers from across the globe can find a skilled workforce here that we are continuously investing in through innovative programs like the GEORGIA MATCH Direct College Admissions Initiative. We’re excited to see how this expansion will further benefit the community and surrounding region.”

Operations at the new facility are expected to begin in fall 2024.

“We appreciate the continuous support of the State of Georgia for our expansion in the U.S.,” Dietmar Siemssen, CEO of Gerresheimer AG, said. “The U.S. market is an important growth driver for us, and the expansion of our operations in Peachtree City will be key for growing our medical device business in the U.S. We are glad that we have found such favorable conditions and a highly motivated and skilled staff here.” Atlanta News First

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Why a Vietnamese EV maker is building a factory in the Southern Auto Corridor

Posted on by Michael Randle

VinFast, the Vietnamese EV startup, has ambitions to become a major global carmaker. It started selling its vehicles in the U.S. in March, and its rollout has been troubled since, marked with vehicle recalls and negative reviews. Now, VinFast is taking a big gamble on a manufacturing facility in North Carolina. WSJ reporter Jon Emont joins host Alex Ossola to talk about how VinFast’s gamble might pay off for both the automaker and North Carolina. Photo: Linh Pham for The Wall Street Journal

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