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 Economic Development News 
Tuesday, November 26 2019

Freeport, TX - As evidence of its solid financial performance and overall stability, Port Freeport is please to announced the affirmation of its "A" rating and stable outlook by Standard & Poor's (S&P) Global Ratings for the Port's senior-lien revenue bonds. The rating was presented in relation to Port Freeport's upcoming offering of approximately $43,135,000 Senior Lien Revenue Bonds, Series (AMT) and $25,420,000 Senior Lien Revenue Bonds Series B (non AMT).

"Maintaining a high bond rating is confirmation of the Port's continued focus on strong financial management practices, supportive of long-term planning for the Port's capital projects," said Port Freeport Chef Financial Officer, Rob Lowe.

Posted by: AT 12:36 pm   |  Permalink   |  Email
Thursday, November 21 2019

Company partners with city of Fishers, Energy Systems Network to launch autonomous microtransit pilot program 

Fishers, IN -- PerceptIn, a visual intelligence technology company specializing in autonomous driving solutions, announced plans to relocate its global headquarters from California to Indiana and create up to 160 new, high-wage jobs by the end of 2022. 

"As a state, we're laser focused on creating an ecosystem that encourages innovation across the board, allowing companies like PerceptIn to develop products geared for the future," Governor Eric J. Holcomb said. "PerceptIn’s decision to move its global headquarters to central Indiana is a testament to our state’s pro-growth business climate and commitment to innovation, and we're so grateful they chose the Hoosier state to call home."

Posted by: AT 10:05 am   |  Permalink   |  Email
Wednesday, November 20 2019

Israel Aerospace Industries Ltd. to invest in new headquarters operation and create more than 50 new jobs

Tel Aviv, Israel -- Governor Ralph Northam announced that Israel Aerospace Industries Ltd. (IAI), Israel’s largest aerospace and defense company, will expand its North American headquarters operation at a new location in Fairfax County. The Governor made the announcement following a meeting with IAI officials in Tel Aviv during his international trade and marketing mission to Israel and the United Arab Emirates. The project will bring more than 50 new jobs to Fairfax County.

“As the largest aerospace and defense manufacturer in Israel, IAI’s decision to expand its headquarters here reinforces that Virginia is a prime location for global companies seeking growth in North American markets,” said Governor Northam. “The Commonwealth is home to more than 780 internationally-owned businesses and continues to attract technology and innovation leaders like IAI. This important project demonstrates the long-term benefits of building corporate partnerships and telling Virginia’s business story around the world. I am grateful for the opportunity to meet with IAI officials in Tel Aviv to discuss ways we can strengthen economic ties between Virginia and Israel.”

Posted by: AT 11:45 am   |  Permalink   |  Email
Friday, November 15 2019
GPA Marks Best October Ever

Photo Caption: At the Port of Savannah, all nine berths are again open for business after Berths 4, 5 and 6 were strengthened to handle Neo-Panamax cranes and vessels. Savannah's Garden City Terminal serves 37 global container ship services per week. Find print quality images here. (Georgia Ports Authority /Jeremy Polston)

New infrastructure helps expand market share

Savannah, GA -- The Georgia Ports Authority moved 428,400 twenty-foot equivalent container units in October, an increase of 14,600 TEUs or 3.5 percent. The strong month gave the Port of Savannah a fiscal year-to-date total of 1.6 million TEUs, up 90,600, or 6 percent.
"We have seen three years of incredible volume growth, and the economy of the U.S. Southeast remains a powerhouse," said GPA Executive Director Griff Lynch. "Georgia's market share continues to expand as new commodities come online and customers in new regions rely on our services."

Posted by: AT 10:22 am   |  Permalink   |  Email
Thursday, November 14 2019

Technology innovation center to create 105 new jobs
Columbia, SC -- Provalus, an information technology (IT) support company, announced plans to establish operations in Clarendon County. The company's new technology innovation center is creating 105 new jobs.
Founded in 2017, Provalus' mission is to grow technology jobs in rural areas. The company develops undiscovered talent to deliver technology, business and support services for businesses.
Located at 34 North Brooks Street in Manning, S.C., Provalus' new innovation center will expand the company's domestic services for business process outsourcing, formation technology outsourcing and support. This is the third facility to open in just two years of business for Provalus. The company's other two locations in Alabama and Texas are on target to employ over 500-newly trained IT professionals.

Posted by: AT 09:43 am   |  Permalink   |  Email
Wednesday, November 13 2019
  • Overall plant expansion in Chattanooga brings $800 million investment
  • Volkswagen creates 1,000 new jobs
  • Production of an electric-only Volkswagen ID. model starts in 2022
  • Volkswagen also announces new battery pack assembly facility

Chattanooga, TN -- Volkswagen of America marked the start of construction for its electric vehicle production facility. The Chattanooga site, where production begins in 2022, will be Volkswagen's North American assembly base for electric vehicles on the Modular Electric Drive Matrix (MEB). The company also announced it intends to build a plant for the assembly of battery packs for EVs at the Chattanooga site.

“This is a big, big moment for this company,” said Scott Keogh, president and CEO of Volkswagen Group of America. “Expanding local production sets the foundation for our sustainable growth in the U.S. Electric vehicles are the future of mobility and Volkswagen will build them for millions of people. "

Posted by: AT 02:07 pm   |  Permalink   |  Email
Wednesday, November 13 2019

More than $10.7 million investment to create 180 new jobs
Columbia, SC -- The Urban Electric Co., an artisan lighting fixture designer and manufacturer, announced plans to expand its current Charleston County operations. The company's more than $10.7 million investment is projected to create approximately 180 new jobs.
The Urban Electric Co. designs and crafts a wide array of lighting fixtures that are bench-made and hand-finished. The company services an international client base of top interior designers and architects in the residential, hospitality and contract sectors.

Posted by: AT 09:26 am   |  Permalink   |  Email
Tuesday, November 12 2019

Company investing $10 million into expansion

Seneca, SC -- ACI Plastics, a thermoplastics processor and recycler, announced plans for a $10 million expansion to its operations in Oconee County. The company will partner with PreZero, a leading recyclables manager, on this project.

For more than 30 years, ACI Plastics has been known for its separation technologies for paint removal, instrument panels, electrostatic and optical separation.

PreZero provides end-market solutions to waste generators and collectors. The company builds and operates state-of-the-art facilities that convert organic waste, plastics and paper into valuable raw materials and commodities.

Posted by: AT 10:19 am   |  Permalink   |  Email
Friday, November 08 2019

Digital firm to launch in New Orleans Exchange Centre; project to result in over 300 new direct, indirect jobs

New Orleans, LA -- Governor John Bel Edwards and Testronic executive Mike Betti announced the company will launch a new 150-job testing facility for digital games in New Orleans. As one of the leading quality assurance firms in the digital gaming industry, Testronic provides outsourced testing services to a global game-development clientele. Testronic will open its new quality assurance location in the New Orleans Exchange Centre, formerly Chevron Place, located at 935 Gravier Street.

Upon ramping up to full employment at its New Orleans facility in five years, the company will produce an annual payroll of more than $5 million. Louisiana Economic Development estimates the Testronic project will result in another 169 new indirect jobs, for a total of 319 new jobs in New Orleans and the Southeast Region.

Posted by: AT 02:32 pm   |  Permalink   |  Email
Friday, November 08 2019

Lewistown, PA -- During its quarterly Board of Directors meeting on October 29th, the Mifflin County Industrial Development Corporation (MCIDC), presented a check for $8,500 to its regional marketing partner Focus Central Pennsylvania (Focus). Representing eight counties (Mifflin, Centre, Juniata, Snyder, Union, Northumberland, Montour and Columbia) in Central Pennsylvania, Focus is a nonprofit that dedicates 100 percent of its time and resources to attracting corporate investment to the region to create quality, family sustaining careers.

MCIDC Board Chair Ruth Eddy stated “Promoting and positioning our region for job creation and growth is an important component of the MCIDC’s multi-faceted economic development mission. We strongly support effective efforts to raise the visibility of Mifflin County and all of central Pennsylvania before site selectors and corporate decision makers.”

Posted by: AT 02:26 pm   |  Permalink   |  Email
Friday, November 08 2019

Molecular Research, Nerve Regeneration, and Cell Manufacturing Lead Local Industry Growth

New Orleans, LA -- Governor John Bel Edwards and New Orleans Mayor LaToya Cantrell announced expansions by three biotech firms – AxoSim, Cadex Genomics and Obatala Sciences – that will create 135 new direct jobs at the University of New Orleans and the New Orleans BioInnovation Center, a biotech incubator where all three firms launched local startup operations.

AxoSim’s innovative neuroscience drug discovery platforms are based upon technology licensed from Tulane University. The company will expand its existing facilities at the BioInnovation Center, and AxoSim projects adding 75 jobs at an average annual salary of $60,000, plus benefits.

Posted by: AT 02:16 pm   |  Permalink   |  Email
Friday, November 08 2019

Des Moines, IA -- Awards totaling $3,015,000 were announced for water and sewer infrastructure projects in nine communities across the state. The Iowa Economic Development Authority (IEDA) made the awards through the Community Development Block Grant (CDBG) program, which provides support for downtown improvements.
IEDA received 21 applications totaling $7.7 million in funding requests. Grants are awarded based upon the benefit to low- and moderate-income persons, financial need, project impact and readiness and commitment of local resources to the project.

Posted by: AT 01:00 pm   |  Permalink   |  Email
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