July 6, 2010
CEOs Rate Texas as No. 1 for Business
Texas has been ranked the top state for job growth and business development for the sixth consecutive year by CEOs by Chief Executive Magazine. The survey asked 651 CEOs to rank each state on three general categories: taxation and regulation, quality of workforce and living environment. Other states in the South that made the ranking's top 10 were North Carolina (2nd), Tennessee (3rd), Virginia (4th), Florida (6th), Georgia (7th) and South Carolina (10th). For more information on economic development in the South, go to www.SB-D.com.
Toyota Moving Ahead with Mississippi Plant
In mid-June, officials with Toyota Motor Corp. announced the automaker will finish construction on its assembly plant near Tupelo, Miss. after the facility was mothballed at the height of the recession in December of 2008. The company broke ground on the $1.3 billion, 2 million-square-foot plant in April of 2007. Toyota planned to build Highlander model SUVs at the facility, but soaring gas prices nixed that plan. The company then announced it would build the fuel efficient Prius at the northeast Mississippi facility in the summer of 2008. Less than six months later, one of the worst automotive markets in U.S. history was in full swing and the plant was delayed indefinitely. Toyota plans to build the Corolla model at the Tupelo plant after equipment is installed and improvements to the facility are made. The company closed its California facility it shared with GM earlier this year. That plant produced about 150,000 Corolla models and most of that production was then moved to Japan. Toyota officials plan to tool the Mississippi plant with used equipment and furnishings from other plants in North America, a move that will save the company about $500 million. Production in Mississippi is set to begin in the fall of 2011. Toyota expects to hire 2,000 workers at the Tupelo auto works. For more information on the South's automotive industry, go to www.SouthernAutoCorridor.com.
$310 Million for Broadband Deployment in Rural W.Va.
The Public Service Commission of West Virginia recently approved the sale of Verizon West Virginia's landline assets to Frontier Communications. The deal paves the way for Frontier to begin work on a $310 million project to deploy broadband throughout the state.
Owensboro, Ky. Sees Big Day on July 1
U.S. Bank announced on July 1 it will expand its home mortgage servicing center in Owensboro, Ky. The $14.1 million deal will create 500 new jobs. On the same day, Pinkerton Tobacco, a subsidiary of Swedish Match, announced it will upgrade its facility in Owensboro, retaining 296 jobs.
Hino Expanding in West Virginia
Hino Motors is expanding its work force in Williamstown, W.Va. as it increases its output of trucks from eight a day to 20 vehicles per day. The Japanese company that is affiliated with Toyota assembles medium duty class trucks in West Virginia.
Automotive Supplier Expands in Rural Kentucky
Corvac Composites, a maker of plastic parts for the automotive industry, is investing $8.1 million to expand its operations in Butler County, Ky. The new 93,750-square-foot plant will assemble and ship parts currently produced in the company's existing plant to Toyota, Honda and GM. The company will hire 75 people as a result of the expansion.
Supplier Adding 200 Jobs in Small Town Alabama
SL Alabama, which currently employs 520 at its facilities in Alexander City, Ala., is adding 75,000 square feet in a $23 million expansion. The automotive parts supplier will add 200 employees in the deal.
Another Supplier Expanding in North Alabama
Ohio-based Sanoh America announced in the summer it will add 40 to 50 workers at its plant in Scottsboro, Ala. The $3.5 million expansion will increase production of brake and fuel tubing assemblies. Sanoh is a supplier to Honda, Nissan, Toyota, Hyundai and other automotive OEMs.
Energy Firm Investing $25M, Creating 280 Jobs in West Virginia
Select Energy Services of Gainesville, Tex. recently purchased Arvilla Well Services in West Virginia. Select Energy plans to invest $25 million, retain 119 employees and create approximately 280 new jobs in the process of developing Marcellus Shale in West Virginia.
Jade Apparel to Begin Operations in Tarboro, N.C.
New Jersey-based Jade Apparel is moving into the old Glenoit Fabrics facility in Tarboro, N.C. The facility will produce apparel for the military. About 250 jobs are expected to be created in the $2 million deal.
Worthington Cylinders Expanding Mississippi Plant
Ohio-based Worthington Cylinders announced in the summer quarter it will invest $11 million and add 80 workers at its plant in New Albany, Miss. The company is a leading supplier of pressure tanks and pressure cylinders.
Wind Tower Manufacturer Plans New Oklahoma Plant
Eagle Claw Fabrication has announced plans to build a 150,000-square-foot facility specifically designed for the construction of wind turbine towers at the Port of Muskogee, Okla. The company plans to create 175 jobs in the $28 million project.
Virginia Establishes First Motion Picture Tax Credits
In the summer, Virginia Gov. Bob McDonnell signed into law Virginia's first-ever tax credit legislation for the motion picture industry. The incentives will go into effect in January of 2011.
Citi Trends Announces Distribution Center in Oklahoma
Citi Trends, an apparel retailer, announced plans in the summer to open a 425,000-square-foot distribution center in Roland, Okla. The Savannah-based company will create 200 jobs in the deal.
Sun Products Building 1.4-Million-SF Plant in Bowling Green
The Sun Products Corp., a provider of laundry-care products, announced in the summer it is investing $10.77 million to construct a 1.4-million-square-foot distribution center in Bowling Green, Ky. The company, which currently employs nearly 1,000 people in Bowling Green, plans to consolidate its nine existing facilities into a single, larger warehouse and distribution center.
Magna Announces Big Expansion in North Carolina
Canadian auto parts supplier Magna International announced June 15 that it is adding 327 jobs and investing $10 million at three plants it operates in Lenoir, Salisbury and Newton, N.C. The plants are part of the Magna Composites division, which produces plastic exterior and interior components. Magna currently employs 360 people at the three plants. North Carolina successfully recruited the projects over competition from sites in Mexico, Georgia, Kentucky and Indiana.
Auburn, Ala. Recruits VW Supplier, Another Expands
In June, CNJ Tech announced plans to expand its operations in the Auburn (Ala.) Industrial Park. The company, which produces brake discs and knuckles, is investing $5.5 million and adding 25 jobs. The expansion is due to increased business from Kia and Hyundai’s plants in Georgia and Alabama. Auburn also recruited a new Volkswagen supplier in June. Tube Technology Systems AG, a Germany-based supplier, will invest $1.4 million in a facility in Auburn. The company will produce brake tubes for VW.
U.S. Engine Valve Investing $18M in South Carolina
In June, U.S. Engine Valve, a supplier of highly engineered valves that help increase fuel economy, announced it is investing $18 million in its plant in Oconee Co., S.C. The company supplies Honda, Toyota and other automakers. The deal will create 10 new jobs.
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