May Montrose Group State Economic Development Incentive Report

Alabama. Nature’s Earth Products plans to double the manufacturing capacity of its environmentally friendly products at its facility in Pickens County. The company will install a new production line with updated equipment that will boost efficiency at the facility, as well as produce wood pellets for BBQs. The Pickens County Commission is supporting the Nature’s Earth growth project through a 10-year tax abatement of non-educational property taxes. In addition, the project qualified for incentives through the Alabama Jobs Act. The $10.8 million project is expected to create 12 jobs.[1] Australia-based company, Austal US, has invested $50 million to produce steel ships for the U.S. Navy and other customers in a new state-of-the-art facility in Mobile. The 117,000-square-foot manufacturing expansion will house the latest computerized and robotic steel processing equipment to handle all current and future demands of the U.S. Navy and the U.S. Coast Guard. Financing for the new steel production line was provided in part by a Defense Production Act (DPA) agreement between the U.S. Department of Defense, in support of the U.S. Navy shipbuilding industrial base, and Austal USA.[2]

Arizona.  Governor Doug Ducey announced $5 million in additional funding for the Back to Work Small Business Rehiring and Retention program to further assist small businesses as they continue to recover from economic consequences of the pandemic. The program funds employee hiring, signing, relocation and retention bonuses. Eligible businesses may receive up to $10,000 for eligible expenditures At least 75% of the awarded funds must go to current or new employees in the form of incentives. There is a cap of $1,000 incentive for each employee. Up to 25% of the awarded funds can go to other business expenditures such as mortgage/rent, utilities, etc. The next round of applications is now open. Governor Doug Ducey announced that Queen Creek, Arizona, will be home to LG Energy Solution’s new state-of-the-art battery manufacturing facility. The $1.4 billion investment by the global battery producer will create thousands of new jobs and produce a cylindrical-type battery that is essential for electric vehicles. The LG facility is the first of its kind in North America. Construction starts this summer and production commences in 2024. [3]Georgia. Governor Brian P. Kemp announced that sustainability-focused Ecopol, a European leader in the production of biodegradable PVA film, will invest more than $38 million and create 130 new jobs at the company’s first North American facility in Spalding County.The Georgia Department of Economic Development collaborated with the Griffin-Spalding Development Authority, Metro Atlanta Chamber, Georgia Quick Start, and Georgia Power to bring Ecopol to Georgia.[4] Governor Brian P. Kemp also announced that Norma Precision Ammunition, a subsidiary of the leading European ammunition manufacturer RUAG Ammotec, has established its U.S. headquarters, manufacturing site, and warehousing and distribution operations in Chatham County. Georgia remains a national leader in advanced manufacturing and continues to attract global businesses like RUAG Ammotec. According to National Shooting Sports Foundation data, Georgia has become one of the country’s top 10 states for firearm manufacturing. The state’s strength across multiple manufacturing sectors resulted in a GDP of $59.5 billion in 2020, which

is the latest data available. The Georgia Department of Labor estimated that there were 392,508 manufacturing jobs in the state as of the third quarter of 2021.[1] Sustainability-focused East Jordan Plastics, one of the largest horticultural container manufacturers in North America, will invest more than $44 million in a new facility in Lyons. The Georgia Department of Economic Development’s (GDEcD) Global Commerce team partnered with the Toombs County Development Authority and Georgia Power to bring East Jordan Plastics to Lyons. Initially, the company hire for positions in warehouse distribution and eventually add employees for plastic recycling and manufacturing. The project is expected to create 80 new jobs in Toombs County.[2]

Boehringer Ingelheim, a global research-driven pharmaceutical development and manufacturing company based in Germany, will expand its Animal Health Global Innovation center in Athens.   GDEcD’s Global Commerce team partnered with the Athens-Clarke County Economic Development Department and Georgia Power on this project. The $57 million investment will increase laboratory space and bring additional research and development capabilities and activities, including 55 new positions, to the site.[3] This week, Governor Brian P. Kemp signed the largest income tax cut in state history into law. HB 1437, also known as the Tax Reduction and Reform Act of 2022, is the third cut on state income tax burden for Georgia families in the last five years. Beginning on January 1, 2024, state income tax rates shall be as follows:

  • 2024 tax year – 5.49%
  • 2025 tax year – 5.39%
  • 2026 tax year – 5.29%
  • 2027 tax year – 5.19%
  • 2028 tax year – 5.09%
  • 2029 tax year – 4.99%

Additionally, each taxpayer shall be allowed, as a deduction in computing their Georgia taxable income, a personal exemption in the amount as follows:

  • For each married couple filing a joint return:
    • 2024 tax year – $18,500.00
    • 2026 tax year – $20,000.00
    • 2028 tax year – $22,000.00
    • 2030 tax year – $24,000.00
  • For each married couple filing a separate return:
    • 2024 tax year – $9,250.00
    • 2026 tax year – $10,000.00
    • 2028 tax year – $11,000.00
    • 2030 tax year – $12,000.00
  • For each single taxpayer or head of household: $12,000.00
  • For each dependent of a taxpayer: $3,000.00

Once fully implemented, HB 1437 will save an average Georgia family of four making $60,000 over $600 per year on their state taxes.

Illinois. Governor JB Pritzker and the Illinois Department of Commerce and Economic Opportunity (DCEO) announced the second cohort of the Regional Engagement for Adoption + Digital Equity (READY) program. Through Broadband READY, five regional entities have been selected to receive a total of $250,000 to support planning, research, and data collection. Together with the four participants from the first cohort, the Broadband READY program is actively engaging in regional planning across the state in preparation for statewide broadband expansion and digital equity programming. The READY program and other investments to enhance community planning and equitable implementation complement the Governor’s ambitious Connect Illinois program, a $400 million plan to deliver universal access to high-speed internet statewide.[1]

Indiana. Resident Home Inc., an e-commerce provider of digitally native brands in the mattress and home goods market, plans to open a Resident Mattress Manufacturing facility at River Ridge Commerce Center in Jeffersonville. The Indiana Economic Development Corporation (IEDC) granted the company incentive-based tax credits. These tax credits are performance-based, meaning the company is eligible to claim incentives once Hoosiers are hired. In addition, as the River Ridge Commerce Center is an Urban Enterprise Zone (UEZ), the company will receive an investment deduction on both real and personal property taxes. Duke Energy has also offered additional incentives. The project is expected to create 100 jobs over the next five years.[2] Catalent Pharma Solutions will expand its biologics manufacturing operations in Bloomington. The Indiana Economic Development Corporation (IEDC) has committed an investment in Catalent of up to $40 million in the form of incentive-based tax credits and up to $2.5 million in conditional training grants based on the company’s job creation plans. The IEDC also committed an additional investment of up to $1.5 million redevelopment tax credits based on the company’s investment plans. These tax credits are performance-based. The city of Bloomington offered additional incentives. The Bloomington Economic Development Corporation (BEDC) has continued to provide strategic, advisory, and logistical support throughout this project. The $350 million project is expected to create more than 2,300 jobs by the end of 2023.

Kansas. Governor Laura Kelly announced her administration’s most significant economic development project to date. Scorpion Biological Services, a subsidiary of Heat Biologics, Inc., is commencing on a planned development of a new 500,000 square foot biomanufacturing facility in Kansas. The $650 million business investment project will create 500 new, high-paying jobs in Manhattan within the next seven years. The facility will support the development of vaccines that enable an accelerated response to global biological threats. In addition, the company intends to provide commercial level development, manufacturing, and bioanalytical testing services at every stage for biopharmaceutical products on a fee-for-service basis to the global health care industry.

Kentucky. Envision AESC, a world-leading Japanese electric vehicle battery technology company, along with Governor Andy Beshear, announced its $2 billion investment to build a new, state-of-the-art gigafactory in the Kentucky Transpark in Bowling Green, Warren County. The 30GWh plant will create 2,000 skilled jobs in the region, producing battery cells and modules to power the next generation EVs produced for multiple global automotive manufacturers. The investment cements Kentucky’s leading role in the automotive industry of the future. The company will produce new generation battery cells with 30% more energy density than the current generation, reduced charging time and increased range and efficiency for EVs, powering up to 300,000 vehicles annually by 2027. The new strategic partnership with Kentucky provides up to $116.8 million from state incentive programs and up to $5 million grant-in-aid for skills training.[1] Lexmark International Inc., the imaging and Internet of Things (IoT) technology company, plans to invest $4 million to establish a solar panel array and educational greenspace area at its corporate headquarters in Lexington. The Kentucky Economic Development Finance Authority approved Lexmark for up to $200,000 in tax incentives through the Kentucky Enterprise Initiative Act (KEIA). Additionally, Lexmark 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. Company leaders anticipate work on the project to begin immediately and be completed by the end of 2022.[2] Envision AESC, a world-leading Japanese electric vehicle battery technology company, will build a state-of-the-art gigafactory at Transpark in Bowling Green. The new strategic partnership with Kentucky provides up to $116.8 million from state incentive programs and up to $5 million grant-in-aid for skills training. The 3-million square foot, 30GWh facility in Warren County region will produce battery cells and modules to power the next generation EVs produced for multiple global automotive manufacturers. The $2 billion project is expected to create 2,000 jobs.[3] Gov. Andy Beshear announced Legacy Metals LLC, a building materials supplier and manufacturer, will grow its current operation with a 24,000-square-foot expansion that will create 100 well-paying jobs for local residents. The new Legacy Metals operation will add to the state’s 230-plus metals-related facilities, which employ approximately 25,000 Kentuckians. In 2021 alone, Kentucky’s metals industry spurred approximately $975 million in planned investment and more than 1,700 expected new jobs for Kentucky residents. That follows a 2021 during which the commonwealth shattered every economic development record in the books. Private-sector new-location and expansion announcements included a record $11.2 billion in total planned investment and commitments to create a record 18,000-plus full-time jobs across the coming years. Kentucky’s average incentivized hourly wage for projects statewide in 2021 was $24 before benefits, a 9.4% increase over the previous year. Kentucky Economic Development Finance Authority 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 million in tax incentives.[4] Ethos Laboratories, which provides laboratory testing services for the health care industry, will expand its presence in Campbell County with a more than $2.2 million investment.  Kentucky Economic Development Finance Authority approved the company for up to $100,000 in tax incentives through the Kentucky Enterprise Initiative Act. 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, Ethos 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.[1] Legacy Metals, a building materials supplier and manufacturer, will establish a 24,000-square-foot operation in Hopkinsville. The Kentucky Economic Development Finance Authority (KEDFA) 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 million in tax incentives based on the company’s investment of $1.2 million and annual targets of creation and maintenance of 100 Kentucky-resident, full-time jobs across 15 years, and paying an average hourly wage of $17 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, Legacy Metals LLC can receive resources from Kentucky’s workforce service providers. The $1.2 million project is expected to create 100 jobs.[2] Columbia Brands USA LLC, a manufacturer of apparel and footwear products, will expand its presence in Henderson County with a $3.7 million investment in its existing distribution operation creating 175 full-time jobs. Columbia’s commitment also continues recent economic growth in Western Kentucky. Since the start of the Beshear administration, companies in the region have announced more than 90 new-location and expansion projects totaling over $1.7 billion in new investments and creating more than 2,400 full-time jobs. KEDFA preliminarily approved a 10-year incentive agreement with Columbia Brands USA LLC under the Kentucky Business Investment (KBI) program. The performance-based agreement can provide up to $2.2 million in tax incentives based on the company’s investment of $3.7 million and annual targets of (i) creation and maintenance of 175 Kentucky-resident, full-time jobs across 10 years; and (ii) paying an average hourly wage of $24 including benefits across those jobs. Additionally, KEDFA approved the company for up to $100,000 in tax incentives through the Kentucky Enterprise Initiative Act (KEIA). KEIA allows approved companies to recoup Kentucky sales and use tax on construction costs, building fixtures, equipment used in research and development and electronic processing.[3] Summit Polymers Inc., a designer and manufacturer of automotive interior components, moved forward with plans to construct a $37.5 million manufacturing facility in Anderson County, creating 218 full-time jobs. KEDFA preliminarily approved a 10-year incentive agreement with the company under the KBI program. The performance-based agreement can provide up to $2.8 million in tax incentives based on the company’s investment of $37.5 million and annual targets of (i) creation and maintenance of 218 Kentucky-resident, full-time jobs across 10 years; and (ii) paying an average hourly wage of $23.50 including benefits across those jobs.[4] Gov. Andy Beshear announced further momentum in the state’s bourbon and spirits industry with the expansion of Casey Jones Distillery in Christian County. The $1.9 million investment that will create 15 full-time jobs for local residents. The bourbon and spirits industry remains one of Kentucky’s most prominent sectors. KEDFA preliminarily approved a 15-year incentive agreement with the company under the KBI program. The performance-based agreement can provide up to $200,000 in tax incentives based on the company’s investment of $1.93 million and annual targets of (i) creating and maintenance of 15 Kentucky-resident, full-time jobs across 15 years; and (ii) paying an average hourly wage of $16 including benefits across those jobs.[5] Paschall Truck Lines Inc., a nationally recognized truckload carrier based in Murray, as the company broke ground on a new headquarters office in Calloway County, an $8.2 million investment that will create up to 150 full-time jobs. PTL contributes to Kentucky’s logistics and distribution sector which, since the start of the Beshear administration, has announced more than 4,000 full-time, Kentucky-resident jobs across more than 80 facility expansion and new-location projects with $563 million in private-sector investment in the commonwealth. KEDFA approved the company for up to $125,000 in tax incentives through KEIA.[6]

Louisiana. Governor John Bel Edwards and Cleco Corporate Holdings announced the company will invest $900 million to significantly reduce carbon emissions at the largest of its nine electric generation units in Louisiana. Cleco Power, a regulated electric public utility, will build a carbon capture and sequestration (CCS) facility to remove and compress 95% or more of the CO2 emitted and permanently store it in geological formations under the site. The company has named the project “Diamond Vault,” and estimates it will create 30 to 40 direct new jobs and an average of 1,100 construction jobs in central Louisiana over a three-year period. Cleco secured a $9 million congressional appropriation, to be administered and disbursed by Louisiana Economic Development, to help defray the cost of a front-end engineering and design (FEED) study. After the study, Cleco plans to raise capital funding of approximately $900 million through tax credits, Department of Energy grants and private equity investment. [7] Great Southern Wood Preserving, a well-known lumber processing company, will expand operations at its facility in Mansura, Avoyelles Parish. The facility which is located on 35 acres will be expanded to include a 187,500 square-foot warehouse to protect treated lumber, 112,500 square-foot manufacturing facility, office building and truck maintenance shop. Louisiana provided the company with a competitive incentive package that includes a $750,000 award from the state’s Retention and Modernization Tax Credit program, and $750,000 from the CLECO economic development fund established in 2017 as part of the public utility’s transition to private ownership. The company will also receive the services of LED FastStart which is the No. 1 statewide workforce development program in the United States. Great Southern is expected to participate in the state’s Quality Jobs and Industrial Tax Exemption programs. The $22.5 million project is expected to create 58 jobs.[8]

Michigan. Governor Whitmer joined the Michigan Economic Development Corporation (MEDC) to announce two business expansion projects in Rochester Hills and Adrian and a community revitalization project in Detroit’s Brush Park neighborhood that are expected to create 161 new jobs and generate a total private investment of $21.7 million in Southeast Michigan have received support from the Michigan Strategic Fund. BOS Automotive Products, Inc.  plans to expand at its Rochester Hills facility, including adding production square footage, additional dock access, a lab, and warehouse space. The project is expected to generate a total capital investment of $1.1 million and create 50 jobs, supported by a $225,000 Michigan Business Development Program performance-based grant. Michigan was chosen for the project over competing sites in Illinois and Mexico. Daejin Advanced Materials USA, Inc., a South Korean firm, plans to establish operations in North American that will allow it to further develop and produce materials that support EV battery cells. The project is expected to generate a total capital investment of $12.3 million and create 111 jobs, supported by a $500,000 Michigan Business Development Program performance-based grant. Michigan was chosen for the project over competing sites in Ohio and Tennessee. The project will bring immediate advanced manufacturing jobs to the area and further boosts Michigan’s expertise within the advanced battery and electric vehicle industry. [9] Germany-based BOS Automotive Products, Inc., a global automotive components manufacturer, is expanding production at its facility in Rochester Hills. The project is being supported by a $225,000 Michigan Business Development Program performance-based grant. The city of Rochester Hills has offered to support the project through expedited plan review services and the waiving of fees. Michigan was chosen for the project over competing sites in Illinois and Mexico. The $1.1 million project is expected to create 50 jobs.[10] The Michigan Strategic Fund (MSF) has approved several projects, including a business expansion by a global aluminum producer in Cassopolis, redevelopment of the former GM Warren Transmission Plant, and a community revitalization project in Bay City. The approved projects represent a total capital investment of $330 million and could result in nearly 700 jobs.[11] Hydro Aluminum Metals USA, LLC plans to construct a new facility in the village of Cassopolis where it will bring a new product line to support the electric vehicle market as well as other applications. The project is expected to generate a total capital investment of $150 million and create up to 67 new well-paying jobs. It is supported by $1.5 million in Community Development Block Grant funds. Per federal requirement, at least 51 percent of the jobs must be held by low-or moderate-income individuals. The Michigan Strategic Fund also approved a 15-year State Essential Services Assessment exemption valued at $1.7 million in support of the project. Michigan was chosen over competing sites in Indiana, Kentucky, and Texas.  The Warren Transmission Redevelopment Project will redevelop 117 acres that previously housed the former General Motors Warren Transmission Plant in the city of Warren. The project will include the construction of three new buildings containing 1.4 million square feet of space that will support tenants in the light industrial, manufacturing, subassembly work and distribution industries. The project is expected to generate a total capital investment of $180 million and when fully occupied, could result in the creation of 600 full-time equivalent jobs. The City of Warren Brownfield Redevelopment Authority received MSF approval of state tax capture valued at $7,271,381 to be used to reimburse for brownfield-related activities at the site. The city is supporting the project through the local tax abatement valued at $10.8 million and a 12-year Industrial Facilities Property tax abatement valued at $12.6 million. The 1108 Water Street project will redevelop two adjacent historic buildings in downtown Bay City. The project is expected to generate a total capital investment of $4.8 million and result in the creation of 30 full-time equivalent jobs. The project will utilize Federal Historic Tax Credits to restore two buildings that are listed in the National Register of Historic Places and will revitalize underutilized property into much-needed housing as well as reactivate a vacant former restaurant. The Michigan Strategic Fund approved a Michigan Community Revitalization Program performance-based grant of $1.5 million. Bay City is supporting the project through a 12-year Obsolete Property Rehabilitation Act property tax abatement valued at $871,787.

Mississippi. Enviva, a leading global energy company specializing in sustainable wood bioenergy, will establish manufacturing operations in Bond. Enviva’s growth strategy includes doubling production capacity over the next five years to meet the growing global demand for renewable products that help the world facilitate the energy transition. The Mississippi Development Authority is providing the company $4 million in grants for site development and infrastructure. The company plans to start construction in 2023 and expects to begin operations there by 2024. The $250 million project is expected to create 100 jobs in Stone County.[12] Carpenter Pole and Piling will locate a pole mill in Waynesboro. The Mississippi Development Authority (MDA) and Dixie Electric Power Association, Cooperative Energy’s local electric distribution member, are providing assistance for the project. Carpenter Pole and Piling specializes in utility poles for power companies and foundation and marine pilings for new construction. The company will begin operations by the end of August. The roughly $3.57 million project is expected to create 15 jobs.[13] Upholstered furniture manufacturer Albany Industries will locate manufacturing and shipping operations in Calhoun City. The Mississippi Development Authority (MDA) and Appalachian Regional Commission are providing assistance for building renovations. The city also is assisting with the project. The project is expected to create 85 jobs.[14] Governor Tate Reeves announced a new technology pilot program called Good Job. It will utilize technology and machine learning to connect Mississippians with job opportunities. Governor Reeves also announced the signing of House Bills 1517 and 1006 which guide dollars into workforce development efforts. They include $32 million for direct training related to healthcare, emerging sectors, logistics, supply chains, and specific populations – such as veterans, those currently or formerly incarcerated, and single parents.[15]

Missouri. Leonardo DRS, a leading provider of defense products and technologies, is expanding its manufacturing campus in West Plains.  Support was provided by the Missouri Department of Economic Development’s Community Development Block Grant program, the U.S. Department of Commerce’s Economic Development Administration, the Delta Regional Authority’s Community Infrastructure Fund, the Missouri Department of Transportation, and the Burlington Northern Santa Fe (BNSF) Railway. Additionally, Leonardo DRS used the Missouri Works program, a tool that helps companies expand and retain workers by providing access to capital through withholdings or tax credits for job creation. The project is expected to create 100 jobs.[16] Cim-Tek Filtration, a leading manufacturer of filtration products, will expand its facility in Kennett. Cim-Tek Filtration used the Missouri Works program, a tool that helps companies expand and retain workers by providing access to capital through withholdings or tax credits for job creation. The project is expected to create up to 77 new jobs.[17]

North Carolina. Nucor, the largest producer of steel in the United States, will locate a new micro mill steel plant in Lexington. Nucor’s project in North Carolina will be facilitated, in part, by a Job Development Investment Grant (JDIG) approved by the state’s Economic Investment Committee. Over the course of the 12-year term of this grant, the project is estimated to grow the state’s economy by $1.2 billion. The JDIG agreement authorizes the potential reimbursement to the company of up to $3,335,400, spread over 12 years. State payments only occur following performance verification by the departments of Commerce and Revenue that the company has met its incremental job creation and investment targets. Because Nucor chose a site in Davidson County, classified by the state’s economic tier system as Tier 2, the company’s JDIG agreement also calls for moving $370,600 into the state’s Industrial Development Fund – Utility Account. The Utility Account helps rural communities across the state finance necessary infrastructure upgrades to attract future business. The $350 million project is expected to create 180 jobs in Davidson County.[18] CertainTeed, a manufacturer of building products, is expanding its operations and adding 37 new jobs in Granville County. CertainTeed is the North American building products subsidiary of Saint-Gobain, one of the largest manufacturing companies in the world. Although wages will vary for each position, the average annual salary for the new positions is $66,930, exceeding Granville County’s overall average annual wage of $45,096. The new jobs have the potential to create an annual payroll impact of more than $2.4 million. A performance-based grant of $125,000 from the One North Carolina Fund will help with CertainTeed’s expansion in North Carolina. All One NC grants require matching participation from local governments and any award is contingent upon that condition being met.[19] CertainTeed, a manufacturer of building products, will expand its roofing shingle manufacturing facility in Oxford. The company was awarded a performance-based grant of $125,000 from the One North Carolina Fund.  This fund provides financial assistance to local governments to help attract economic investment and to create jobs. Companies receive no money upfront and must meet job creation and capital investment targets to qualify for payment. All One NC grants require matching participation from local governments and any award is contingent upon that condition being met. The $118.8 million project is expected to create 37 new jobs in Granville County.[20] Technimark, LLC, a manufacturing solutions provider for the healthcare and consumer packaging markets, will expand its healthcare production operations in Randolph County, creating 220 jobs. The company will invest $62 million to support growth in its healthcare and consumer packaging markets. Although wages will vary depending on job role, the average salary for all the new positions will be $44,290. The current average wage in Randolph County is $40,552. The community will see more than $9.5 million enter its economy from the project’s payroll impact, each and every year. Technimark’s project in North Carolina will be facilitated, in part, by a Job Development Investment Grant (JDIG). the JDIG agreement authorizes the potential reimbursement to the company of up to $1,108,800, spread over 12 years. the company’s JDIG agreement also calls for moving $123,200 into the state’s Industrial Development Fund – Utility Account. The Utility Account helps rural communities across the state finance necessary infrastructure upgrades to attract future business.[21] Vanguard Furniture Company, Inc., a North Carolina furniture manufacturer, plans to add 100 new jobs in Burke County. Headquartered in Conover, North Carolina, Vanguard Furniture is a manufacturer and marketer of high-end case goods and upholstery. Altogether, the average annual salary is $42,536, exceeding Burke County’s overall average annual wage of $39,499. The new jobs have the potential to create an annual payroll impact of more than $4.2 million for the region. A performance-based grant of $250,000 from the One North Carolina Fund will help with Vanguard’s expansion.[22] Vanguard Furniture Company, Inc. will expand its upholstery manufacturing operations to Morganton. The expansion will be the company’s eighth manufacturing facility focused on case goods, finishing, and upholstery manufacturing with warehouse and distribution operations. A performance-based grant of $250,000 from the One North Carolina Fund will help with Vanguard’s expansion in North Carolina. The $5.9 million project is expected to create 100 jobs.[23]

Ohio. Orveon Global US, a newly formed corporation housing three iconic beauty brands, bareMinerals, Laura Mercier and Buxom, will open an extension of its corporate office in Columbus. The company also has regional headquarters in London and Tokyo. Orveon Global’s decision to open a new site in Columbus is evidence of Ohio’s competitiveness as a viable, international location in a covid-calibrated economy. The Columbus Region economy boasts a highly diversified base of companies, with no industry accounting for more than 18% of employment. The project is expected to create 150 new jobs.[24] Governor DeWine is awarding more than $60 million in funding to help local communities clean up dozens of contaminated properties to make way for future economic development.  As part of the new Ohio Brownfield Remediation Program, the Ohio Department of Development is providing funding for 78 projects, including approximately $54.8 million for 37 clean-up projects and $5.5 million for 41 assessment projects. These projects will impact communities in 35 counties across the state, which can be seen in Figure 1.2.  The funds awarded will help to assess and clean up industrial, commercial, and institutional brownfield sites that are abandoned, idled, or underutilized due to a known or potential release of hazardous substances or petroleum. Following site remediation, properties can be redeveloped to revitalize neighborhoods and attract new economic development. The $60 million grant announcement represents the first group of grants awarded as part of Round 1 of the Ohio Brownfield Remediation Program, with nearly $350 million to be invested in total across the state in coming months.[25]  Ohio Governor Mike DeWine and Lt. Governor Jon Husted announced the approval of assistance for five projects set to create 733 new jobs and retain 1,344 jobs statewide. The project approvals include:[26]

  • CertainTeed Ceilings Corporation, city of Strongsville (Cuyahoga Co.), expects to create 38 full-time positions, generating $2.6 million in new annual payroll and retaining $1.7 million in existing payroll as a result of the company’s expansion project in Strongsville. CertainTeed manufactures and distributes building materials for residential and commercial building applications. The TCA approved a 1.398 percent, seven-year Job Creation Tax Credit for this project.
  • The Procter & Gamble Manufacturing Company (P&G), Bath Township (Allen Co.), expects to create 135 full-time positions, generating $10 million in new annual payroll and retaining $52.1 million in existing payroll as a result of the company’s expansion project in Bath Township. P&G is a consumer goods company specializing in a wide range of personal care and hygiene products. The TCA approved a 1.805 percent, nine-year Job Creation Tax Credit for this project.
  • Infinity Labs LLC, city of Dayton (Montgomery Co.), expects to create 160 full-time positions, generating $18 million in new annual payroll and retaining $2.2 million in existing payroll as a result of the company’s new project in Dayton. Infinity Labs centers on disruptive technologies, research and development (R&D), and delivering emerging capabilities to both industry and defense customers. The TCA approved a 2.028 percent, nine-year Job Creation Tax Credit for this project.
  • Apogee Engineering LLC, city of Fairborn (Greene Co.), expects to create 150 full-time positions, generating $15 million in new annual payroll and retaining $9 million in existing payroll as a result of the company’s expansion project in Fairborn. Apogee Engineering is a minority owned company that provides engineering, IT, and cybersecurity for defense and civilian customers. The TCA approved a 2.061 percent, nine-year Job Creation Tax Credit for this project.
  • Loc Performance Products LLC, city of St. Marys (Auglaize Co.), expects to create 250 full-time positions, generating $13 million in new annual payroll and retaining $21.6 million in existing payroll as a result of the company’s acquisition project in St. Marys. Loc Performance Products provides mobility systems, vehicle hulls, armored cabs, and armor kits for military and industrial applications. The TCA approved a 1.715 percent, nine-year Job Creation Tax Credit for this project.

South Carolina. Argo, a global autonomy products and services company, will establish a test facility in Greenville County. Argo develops self-driving technology products and services to help make the world’s streets and roadways safe and accessible. Argo will establish a closed-course track that will be dedicated to highway-speed testing as the company advances toward commercial autonomous operations across multiple cities. The company’s $2.6 million investment is expected to create 40 new jobs. The Coordinating Council for Economic Development has approved job development credits related to this project.[27] Fuyao Glass America Inc., a venture of China-based Fuyao Glass Industry Group Co. Ltd., announced plans to expand its operations in Greenville County. Operating as one of the largest producers of automotive glass worldwide, the company holds more than 1,000 patents and manufactures 4 million glass car sets in the United States annually. The expansion is expected to be complete in March 2023. The company’s $34.5 million investment will create 121 new jobs. The Coordinating Council for Economic Development has approved job development credits related to this project.[28] TIVA Building Products Corp., a polyvinyl chloride decking company, plans to establish operations in Blackville. The Coordinating Council for Economic Development has approved job development credits related to this project. The council also awarded a $250,000 Rural Infrastructure Fund grant to Barnwell County to assist with the costs of site preparation and building improvements. The $8.3 million project is expected to create 122 new jobs in Barnwell County.[29] Symrise Pet Food, a global leader in the pet food industry, will establish its North American headquarters in Hodges. The Coordinating Council for Economic Development has approved job development credits as an incentive related to this project. The $65.5 million project is expected to create 65 jobs in Greenwood County. The site is planned for operations in 2025.[30] Argo AI, a global autonomy products and services company, will establish a test facility in Greenville County. The company will establish a closed-course track in the SC Technology and Aviation Center for development and testing of its self-driving vehicle technology. The Coordinating Council for Economic Development has approved job development credits related to the project. The $2.6 million project is expected to create 40 new jobs.[31]

Virginia. Governor Glenn Youngkin announced that Kingspan Insulation LLC, a division of the Kingspan Group, the global leader in advanced insulation and innovative building solutions, will invest $27 million to expand its operations in Frederick County. The Virginia Economic Development Partnership worked with Frederick County and the Port of Virginia to secure the project for Virginia. The Governor approved a performance-based grant of $550,000 from the Virginia Investment Performance Grant, an incentive that encourages continued capital investment by existing Virginia companies.[32] Area 2 Farms, a Public Benefit Corporation, will operate a new organic, indoor farm and retail farm store in Arlington County. The Virginia Department of Agriculture and Consumer Services (VDACS) worked with Arlington County to secure the project for the Commonwealth. Governor Youngkin approved a $40,000 grant from the Governor’s Agriculture and Forestry Industries Development (AFID) Fund, which Arlington County will match with local funds. Area 2 Farms uses a special indoor growing technology that allows them to produce hundreds of different crops more sustainably. The $1.8 million project is expected to create 30 new jobs over the next three years.[33] Kingspan Insulation, a division of the Kingspan Group, the global leader in advanced insulation and innovative building solutions, will expand its operation in Frederick County. The company will increase production capacity by adding a new manufacturing facility for high-demand, ultra-high energy efficient OPTIM-R vacuum insulated panels to further expand its footprint on the East Coast. The Virginia Economic Development Partnership (VEDP) worked with Frederick County and The Port of Virginia to secure the project for Virginia. The Governor approved a performance-based grant of $550,000 from the Virginia Investment Performance Grant, an incentive that encourages continued capital investment by existing Virginia companies.[34]

Wisconsin. Quarra Stone Company, an architectural stone cutter and supplier, plans to build a production and executive management facility in Sun Prairie. The Wisconsin Economic Development Corporation (WEDC) is supporting the project by authorizing up to $350,000 in state income tax credits over the next three years. The actual amount of tax credits Quarra will receive is contingent upon the number of jobs created and the amount of capital investment during that period. The $17.9 million project is expected to create 34 jobs over the next three years.[35]

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