Job Creation

Hankook Tire to Locate North American Headquarters in Nashville, Tennessee

Following its decision to locate an $800 million tire manufacturing facility in Clarksville, TN, Hankook Tire is now adding to its Tennessee presence by announcing that it will locate its North American headquarters in Nashville.

Hankook

Hankook (photo – Dave Hamster/flickr)

Announcing the project, Governor Bill Haslam said in a statement that “By choosing Nashville for the location of its North American headquarters, Hankook Tire continues to help make our state known as a worldwide leader in the automotive sector.”

Tennessee Economic and Community Development Commissioner Randy Boyd noted that “Hankook Tire could choose anywhere to locate its North American headquarters, and it says volumes about Davidson County and Tennessee that they chose us.”

Hankook Tire America Corp. is headquartered in Wayne, NJ. It is a part of Seoul, South Korea-based Hankook Tire, one of the largest tire manufacturers in the world with over 20,000 global employees. The company has over 30 offices, five R&D centers and eight large-scale tire production facilities, including the one in Tennessee, which is its first and only production plant in the United States.

The company chose Clarksville and Montgomery County for its $800 million manufacturing plant in 2013, and broke ground in 2014 for constructing the 1.5 million-square-foot advanced manufacturing facility in the Corporate Business Park.

The tire manufacturing plant is creating 1,800 new jobs for Clarksville and Montgomery County. So the headquarters project in Nashville is Hankook’s second major facility to be located in Tennessee. The Nashville economic development benefits from this latest project include an investment of $5 million and the creation of 200 more jobs for the state – this time in Davidson County.

Hankook Tire Vice Chairman and CEO Mr. Seung Hwa Suh said in the release that “We believe by relocating our headquarters to Nashville, Hankook Tire can benefit from the people, resources and infrastructures of Tennessee, and we hope it will provide job opportunities and contribute to the Tennessee economy.”

The company is in the process of looking for space for its headquarters in downtown Nashville. Mayor Megan Barry said they are thrilled that Hankook Tire has chosen to locate its U.S. headquarters in Nashville and bring up to 200 jobs to the city. “Hankook Tire joins a growing number of international firms who have chosen to invest in Nashville and become cherished members of our community,” added Mayor Barry.

TVA Senior Vice President of Economic Development John Bradley likewise noted that “TVA and Nashville Electric Service congratulate Hankook Tire on the decision to locate its new corporate headquarters and bring quality jobs to Nashville.”

Jacksonville Considers $13.4M Incentives For $200M Fulfillment Center With 1500 Jobs

At a meeting yesterday, the City Council of Jacksonville, FL took up a resolution to consider pre-approving local incentives for a fulfillment center project that could bring a $200 million investment and 1,500 direct new jobs to the city.

Project Rex Jacksonville, FL

Photo – coj.net

As per a memo to the City Council from the Jacksonville Economic Development Office, this project, identified as yet only by the name of Project Rex, is said to be a company that “has more than 20 years of experience in the retail and ecommerce markets and currently employs more than 200,000 people worldwide.”

There aren’t that many ecommerce retail giants that fit this description, but let’s leave that be for now, since Project Rex is said to be currently assessing various cities across the U.S. for proposed fulfillment centers.

The proposed site in North Jacksonville is located just south of the Jacksonville International Airport, within the boundaries of the JIA Community Redevelopment Area. The company is proposing to invest up to $200 million in real and tangible personal property, and the project would result in creation of 1,500 new jobs over the next three years.

Apart from the direct jobs being created and the investment, the economic development benefits to Jacksonville include the chance to address the high unemployment rate in the JIACRA area. The unemployment rate in some parts of this area exceeds 15 percent. Hundreds of these new jobs with medical benefits and other fringe benefits will go to area residents and help reduce the unemployment rate. There’s also the fact that Project Rex will add to the list of large distribution companies establishing a facility in Jacksonville.

All told, Project Rex may get up to $4.95 million in state incentives, as follows – Qualified Targeted Industry (QTI) Tax Refund – $1.5 million ($1.2 million from the state and up to $300,000 from Jacksonville); Economic Development Transportation Fund (EDTF) Grant – $3 million; and Florida Flex Training Grant – $750,000.

In order to support efforts to recruit this company to Jacksonville, the City Council has been asked to approve a package of local incentives totaling $13.4 million. This includes up to $300,000 as the City’s local QTI match, a City of Jacksonville REV Grant of up to $10 million, a training assistance grant of up to $600,000, and a road improvement grant of up to $2.5 million.

The QTI refund incentives would be available for up to 500 of the 1,500 new jobs being created. These 500 eligible jobs will pay an average annual salary of at least $50,000.

GM Financial Breaks Ground on Servicing Center in San Antonio, Texas

Governor Greg Abbott joined executives of GM Financial for the ground breaking of the company’s new financial servicing center in San Antonio, TX.

GM Financial San Antonio, TX

GM Financial San Antonio, TX (photo – sanantonioedf.com)

Supported by a $2.5 million Texas Enterprise Fund (TEF) grant and additional local incentives from Bexar County and the City of San Antonio, the company is making at least $20 million in capital investment and plans to create more than 490 jobs.

General Motors Financial Company Inc. has entered into an agreement with Western Securities Limited to build a new 100,000-square-foot facility in San Antonio on 13.8 acres of land off of Raymond E. Stotzer Freeway.

The new facility will be capable of accommodating up to 700 employees, almost all of whom will be new hires. Fort Worth, TX-based GM Financial already employs 2,580 workers in the State of Texas, and has approximately 6,700 team members in the U.S. and Canada.

Governor Abbott said in a statement that “San Antonio is home of transformational technology and manufacturing, and now, the city is adding hundreds of new jobs in the growing financial services sector. I thank General Motors Financial for being such a great business partner and continuing to expand in Texas.”

At the time the project was first announced, GM Financial CEO Dan Berce had said that “We are excited to add another servicing center in the state that is home to GM Financial’s corporate headquarters and other operational facilities.”

GM Financial’s existing financial servicing centers are located in Arlington, TX; Chandler, AZ; Huntersville, NC; and, Peterborough, Ontario, Canada. The company chose the San Antonio location for their next servicing center on based on several factors, including a strong workforce, an ideal time zone that can service customers across the U.S., and incentives offered by the city, county and state.

Apart from the $2.5 million TEF grant as a state incentive, the San Antonio City Council has approved an incentive package recommended by the City of San Antonio Economic Development Department. The Bexar County Commissioners Court is likewise providing its own package of incentives for the project.

Wayne Peacock, chairman of the San Antonio Economic Development Foundation, has said in a statement that GM Financial will generate a lasting economic impact on the community by committing to add 490 new jobs, with the possibility of growing that number up to 700 over time.

“In fact, according to analysis conducted by Impact DataSource, the total economic output over the first 10 years of operations could reach nearly $333 million,” said Peacock.

Milwaukee Tool Breaks Ground on Headquarters Expansion in Brookfield, Wisconsin With Nearly 600 Jobs

Governor Scott Walker joined executives of Milwaukee Tool at their headquarters in Brookfield, WI to break ground on an expansion project to add a new corporate office building.

Milwaukee Tool

Milwaukee Tool (photo – Charles & Hudson/flickr)

Supported by the city of Brookfield, Milwaukee 7, and the Wisconsin Economic Development Corporation, the company is undertaking a 200,000-square-foot expansion that includes a new four-story office building on campus, adjoined to the current facility.

Milwaukee Tool estimates that nearly 600 jobs will be added within the next five years, and most of these new positions will be focused on research and development in engineering and marketing, with an average salary of $75,000.

The company has already grown employment at this location from just over 207 in 2008 to 300 jobs in 2011 and approximately 800 now. This latest expansion will make Milwaukee Tool the largest employer in Brookfield, and one of the top ten in Waukesha County.

Milwaukee Tool Group President Steve Richman said in a statement announcing the groundbreaking that “Milwaukee Tool is dedicated to driving growth and creating new jobs in Wisconsin, and throughout the United States.”

Governor Walker likewise noted that “We’re happy to be here in Brookfield today to celebrate the expansion of Milwaukee Tool and work with them to provide state income tax credits for employee retention, job creation, and capital investment.”

Milwaukee Tool has been certified under the WEDC Enterprise Zone Program to earn up to $18 million in state income tax credits over a period of six years based on retention and creation of full-time employment positions and significant capital investment for both their Brookfield and Mukwonago facilities.

This new project brings significant Brookfield economic development benefits. Milwaukee Tool has redeveloped 190,000 square feet of former manufacturing space for their global research and development center. The opportunity to club METCO’s headquarters and R&D operations at this campus secures the company’s base at this location for the next generation.

Also, the potential impact on continued revitalization of this area of Brookfield is significant.  The significant expansion of the globally known and reputed Milwaukee Tool’s headquarters campus will also reinforce Brookfield as a community of choice for other major manufacturing and service firms considering locations for their operations.

Brookfield, WI-based Milwaukee Tool has been a manufacturer of heavy-duty power tools, accessories, and hand tools for professionals worldwide since 1924. It is now a subsidiary of Techtronic Industries Co. Ltd. (TTI) (HKEx stock code: 669, ADR symbol: TTNDY).

Gale Klappa, co-chair of Milwaukee 7 and chairman and CEO of WEC Energy Group, noted that there is intense competition from across the country when these opportunities arise.  “Milwaukee Tool’s decision to expand here underscores the strength of our regional assets that make Milwaukee a premiere destination for manufacturing investment,” said Klappa.

Milwaukee 7 is a regional economic development platform for the seven counties of southeastern Wisconsin.

Huntington County, Indiana Secures CSP Expansion – Largest Private Investment Project in Nine Years

Tier 1 automotive supplier Continental Structural Plastics Inc. has announced plans for an expansion of its operations in the Riverfork Industrial Park in Huntington, IN.

CSP

CSP (photo – cspplastics.com)

Supported by the state tax credits and training grants and additional local incentives from Huntington County and the City of Huntington, the company is investing $33,502,000 to add a new 130,000-square-foot facility on six acres adjacent to its current 210,000-square-foot facility in the Riverfork Industrial Park.

The company currently employs 323 people in Huntington, and is also in the process of adding jobs associated with earlier expansions. All told, CSP Huntington will employ nearly 480 people by the time its expansion plans are completed in 2020.

Governor Mike Pence said in a statement that “As CSP grows its operations here in Indiana, Hoosiers can rest assured that this administration will continue to pursue the kinds of policies that make our state a destination for investment and growth.”

Jerry Reid, operations manager of CSP Huntington, added that the Huntington area continues to be a very business-friendly place, making the decision to further invest in this area an easy one for them.

Founded in 1969, Auburn Hills, MI-based Continental Structural Plastics provides leading-edge technologies in lightweight materials and composite solutions for the automotive, heavy truck, HVAC and construction industries. The company employs nearly 3,300 associates across 14 manufacturing facilities in the United States, Mexico, France and China.

“We have access to a talented and hard-working employment base, and continue to receive significant support from the local, county and state economic development offices that enables us to grow our business and contribute to the Huntington-area economy,” said Reid.

In order to secure the project, the Indiana Economic Development Corporation offered Continental Structural Plastics Inc. up to $600,000 in conditional tax credits, in addition to $50,000 in training grants tied to the company’s job creation plans.

Huntington County and the city of Huntington are providing additional incentives to support the project at the request of Huntington County Economic Development Corporation.

Mark Wickersham, executive director of the Huntington County EDC, said in a statement that CSP is a fantastic corporate citizen in their community, and noted that this new project represents the largest investment of private capital in Huntington County in over nine years.

Both Wickersham and Huntington Mayor Brook Fetters also pointed out that this was truly a team effort, with the County Commissioners, City Council, Mayor and the IEDC all working together to make this project a reality.

CNA Breaks Ground on Headquarters Building in Chicago to House Over 3000 Employees

CNA (NYSE: CNA) has broken ground on its new global headquarters building, a Chicago economic development project that is going to create 2,700 construction-related jobs, and another 45 permanent jobs will be created to manage, secure and operate it.

Big Red CNA Center in Chicago

Big Red in Chicago (photo – Daniel Schwen/wikimedia)

Not to mention the more than 3,000 tenant employees that the new 35-story, 810,000-square-foot building, also to be known as the CNA Center, will accommodate on 151 North Franklin Street.

The project, first announced last year in December, ensures that the company which has been based in Chicago for 116 years will stay in the Loop for generations to come.  Founded in 1897, CNA is the country’s eighth largest commercial insurance writer and the 14th largest property and casualty company.

The John Buck Company, the real estate developer for the CNA Center at 151 North Franklin, has also acquired 333 South Wabash (aka the iconic Big Red) that has been the CNA global headquarters since 1972. CNA is leasing Big Red back from JBC until the new global headquarters is ready for occupancy.

CNA will be leasing 275,000 square feet in the new Class A building, and law firm Hinshaw & Culbertson LLP has committed to leasing another 100,000 square feet.

Mayor Rahm Emanuel, who joined representatives from CNA and JBC for the groundbreaking, said in a statement that CNA is an iconic Chicago company with a history that spans more than a century. “But today is about more than this new building. It is about building a new future where Chicago will remain a city on the move for every resident in every neighborhood,” added Mayor Emanuel.

Thomas F. Motamed, chairman and chief executive officer, CNA, noted that “CNA’s new global headquarters recommits us to this world-class city and will better serve the needs of both our employees and customers.”

JBC Chairman John A. Buck likewise added that “We’d like to thank Mayor Emanuel for his continued support of this project, and of all businesses throughout our great city. As we move forward with construction, we are committed to hiring a diverse workforce of contractors that represent this great city.”

Another aspect worth mentioning about this prestigious Chicago economic development project is that it will be constructed as a green building project with LEED-CS Gold Certified design specifications. The building’s design architect is John Ronan, with Adamson Associates as the executive architect.

Formet Industries Gets $1M From Southwestern Ontario Economic Development Fund

An expansion by automotive supplier Formet Industries in St. Thomas, Ontario, Canada will receive $1 million in support from the Southwestern Ontario Development Fund.

Southwest Ontario Development Fund

Photo – ontario.ca

The Ontario economic development funding supports an overall project investment exceeding $23 million that is expected to create 66 new jobs and help retain over 1,300 positions.

Formet Industries is developing automotive structural components that provide added strength and safety, while also reducing vehicle weight. Formet will supply the components to an automaker with operations in Ontario.

Mark Johnson, General Manager, Formet Industries, said in a statement that “The investment we’re announcing today at our St. Thomas facility is part of our company’s ongoing focus on using the latest materials, technologies and engineering innovation to offer body and chassis components that we believe set industry standards for structural integrity and lightweight performance.”

Formet is a manufacturing division of Cosma International, which in turn is part of Magna International Inc., the world’s second-largest auto supplier by sales. Formet Industries, guided by Magna’s business model and principles, has a long history in St. Thomas, Ontario that dates back to 1997.

Magna International’s global headquarters is likewise located in Aurora, Ontario. The company has over 125,000 employees spread across 285 manufacturing operations and 83 product development, engineering and sales centers in 29 countries.

The $1 million investment in Formet by the Province of Ontario is being provided through the Southwestern Ontario Development Fund, modeled on the proven Eastern Ontario Development Fund. Together, these two Ontario economic development tools have helped to create and retain more than 41,000 jobs in the province and have attracted more than $1.8 billion in investment.

It also helps build the $16 billion automotive industry in Ontario, which is the only sub-national jurisdiction in Canada which is home to the top five major global automotive companies – Fiat Chrysler Automobiles, Ford, General Motors, Honda and Toyota, as well as truck manufacturer Hino. Furthermore, Ontario’s vehicle assembly plants are supported by an advanced supply chain that comprises over 700 part suppliers and more than 500 tool, die and mold makers.

The Southwestern Ontario Development Fund is now accepting applications from qualified businesses in the advanced manufacturing, food processing, life sciences, information and communications technology, tourism and cultural industries.

Brad Duguid, Ontario Minister of Economic Development, Employment and Infrastructure, noted in a statement that Ontario’s innovative and broad-based supply chain is a key strength as the province competes globally for new auto assembly investment. “This project with Formet targets the skills we’re working with the industry to develop – using the advanced production processes and lightweight materials required for the next generation of fuel-efficient vehicles,” added Minister Duguid.

Sterling Business Park in Wayne County, Pennsylvania Attracts Oldest Fire-Fighting Equipment Manufacturer in the US

Pennsylvania Department of Community and Economic Development Secretary Dennis Davin announced that fire-fighting equipment manufacturer Sutphen East Corporation is relocating operations to Pennsylvania and expanding by establishing a facility in the Sterling Business & Technology Park in Wayne County, PA.

Sutphen fire truck

Sutphen fire truck (photo – Seluryar/flickr)

Supported by state grants and support from the Governor’s Action Team and the Wayne County Economic Development Corporation, the company will invest more than $1.6 million in the project.

In a statement announcing the project, Sec. Davin celebrated the creation of new jobs in Wayne County and a new employer in Pennsylvania. “This project was competitive project for the Governor’s Action Team, but an expansion did not occur outside of Pennsylvania, it happened right here in Wayne County,” said Sec. Davin.

Sutphen East has purchased an existing 25,000-square-foot building on 5.63 acres in the Sterling Business & Technology Park in Sterling Township, making the company an anchor tenant in the park.

Mary Beth Wood, executive director, WEDCO, said that “The 252-acre business park was an immense project for a rural county and small economic development organization.”

Wood noted that the DCED and state legislators had been supporters of the project from day one. “We celebrate new jobs in Wayne County today because of the commonwealth’s commitment, investment, shared knowledge, and expertise,” said Wood.

The new facility will double the company’s manufacturing capacity, and Sutphen has committed to the creation of 60 new full-time jobs at this facility over the next three years.

DCED secured the Sutphen East relocation and expansion project by offering the company a package of Pennsylvania economic development incentives that includes a $90,000 Pennsylvania First program grant, and $27,000 in WEDnetPA funding for employee training.

Darryl Rhyne, general manager, Sutphen East, noted that “Bringing 125+ years of Sutphen integrity, innovation and quality to Pennsylvania will create an extraordinary opportunity for Sutphen, the state of Pennsylvania, and Wayne County.”

Sutphen East Corporation, located until now at White Lake, NY, is a fire apparatus manufacturer that functions as a subsidiary of suburban Dublin, OH-based Sutphen Corp. The family-owned company was founded in 1890, and is now the oldest continuously owned and operated fire apparatus manufacturer in the United States.

Aside from this new location in Wayne County, PA, Sutphen operates separate facilities for manufacturing and servicing everything from platforms and ladders to pumpers, chassis, fire trucks and custom designed specialty apparatus.

Alsco Expansion Creates More Jobs in Prince George’s County, Maryland

Alsco, a global company proving linen and uniform services to customers on five continents, is expanding its operations in Prince George’s County, MD.

Alsco

Photo – alsco.com

The company, which recently hired over 40 employees for this new Prince George’s County economic development project, already employs 225 people at this site in Lanham, MD, and expects to create another 30 jobs by the end of this year.

Alsco will be hosting a grand opening for its new Maryland facility next week.​ The company currently services nearly 1,600 customers in Maryland and Washington, D.C.

Back in 2012, Alsco paid $6.5 million to purchase the 84,000-square-foot space, located at 4900 Philadelphia Way in Lanham, from Cohen Companies. This gave Alsco a new and unoccupied industrial space in the Washington Business Park, and the company has since made good use of the space to install state-of-the-art systems that process more than 125,000 pounds of laundry each day.

Governor Larry Hogan said in a statement that “Alsco has been serving customers in the region for more than 60 years and we are very pleased that they have chosen to expand and add jobs in Maryland.”

As a result of their expansion, the company is eligible for a number of state and local tax credits, including a Job Creation Tax Credit program administered by the Maryland Department of Commerce.

Maryland Commerce Secretary Mike Gill said in the statement that “From their new facility in Lanham, Alsco will be able to reach their hundreds of customers in the region more rapidly.”

Jim Divers, Alsco’s director of sales and marketing, noted that “This multi-million dollar facility demonstrates our continued commitment to provide excellent service to our customers and employment for more than 250 individuals in the local area.”

Prince George’s County Executive Rushern L. Baker, III likewise added that “They have found an outstanding location in Lanham from which to serve the region, and with our growing economy, especially the hospitality sector, we have great confidence that Alsco will prosper in its new home.”

Alsco is a family owned and operated business that was founded in 1889 as a door-to-door delivery by horse-drawn cart business in Lincoln, NE. The company is credited for inventing and shaping the linen and uniform rental industry, and also for inventing the continuous towel dispenser, and pioneering the use of garment lockers. Alsco now has over 16,000 employees across more than 150 branches worldwide serving over 350,000 customers.

California Considers $70.5M Economic Development Tax Credits For 103 Businesses

At its next meeting later this month, the California Competes Tax Credit Committee will consider approving tax credit agreements with 103 businesses seeking a total of $70,539,413 in tax credits.

CA Competes Tax Credit

CA Competes Tax Credit (photo – business.ca.gov)

These CA Competes Tax credit agreements, available to companies that are expanding and adding jobs in the state, are negotiated by the Governor’s Office of Business and Economic Development (GO-Biz) and approved by the statutorily created “California Competes Tax Credit Committee.”

Since 2014, GO-Biz has awarded $223 million through this California economic development incentive program to 330 companies that are projected to create over 42,000 jobs and $9.6 billion in investments.

In this latest round, the three largest tax credit awards are for expansion projects by electric car maker Faraday Future and mobile app developer Snapchat, and a large warehouse project by Nordstrom.

Los Angeles-based Faraday Future, which recently announced the selection of a site in North Las Vegas, NV for its automobile manufacturing facility, is proposing an expansion of several facilities in California. Specifically, the company is planning to invest $311,117,460 for expansions at various locations throughout California, including Gardena, Rancho Dominguez, and San Jose. The expansion will result in the net addition of 1,990 full-time Faraday Future employees in the state, adding to its existing 236 employees.

To support these expansions, the State will enter into an agreement with FF to provide $12,725,000 in tax credits through CA Competes. The company will only be able to claim the credit based on performance, starting with a $2 million allocation for tax year 2019 and the balance of $10,725,000 in tax year 2020.

The second largest tax credit award in this round will go to Nordstrom, Inc., which is considering locating a fulfillment warehouse and retail distribution facility in California. This is a $171 million investment project that will result in the creation of 367 net new full-time jobs.

Nordstrom is considering competing proposals from Fresno and Visalia, both of which are offering the retailer over $20 million in local economic development incentives in return for an investment of up to $200 million and the creation of up to 1,875 jobs. The local incentives will be in addition to the $11 million state tax credit allocation that Nordstrom is expected to get.

The third largest tax credit award of $5 million will go to mobile app developer Snapchat, Inc. for a $32 million investment project in Venice Beach, CA. This project is expected to result in the creation of 1,194 net new full-time jobs.

See the full list of 103 businesses and their tax credit agreements being considered for approval by the CA Competes Tax Credit Committee.

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 100 101 102 103 104 105 106 107 108 109 110 111 112 113 114 115 116  Scroll to top