Large Site Selection Projects Announced Summer 2022
by King White, on Sep 21, 2022 9:43:05 AM
U.S. mega site selection project activity continues despite the challenging labor market and inflationary conditions. Site Selection Group strives to keep companies aware of these projects as they can impact your site selection decisions. During the summer of 2022, several mega projects were announced. Companies considering relocation or expansion should be aware of these large projects as their impact can be far-reaching.
Site selection drivers for mega projects
These projects typically have significant impacts on the community in which they locate due to significant job creation and massive capital investment not to mention the indirect benefits a community realizes. The projects are typically attracted to a community by a combination of labor availability, logistics, operating costs, tax and business climate, real estate, and economic incentives. It is important to evaluate the site selection criteria with an unbiased process, reliable data, and market intelligence.
The electric vehicle and semiconductor industries are most active
The electric vehicle and semiconductor industries have been the most active. From vehicle production and lithium battery production, the automotive and related transportation sectors are going through a massive transformation. The semiconductor supply chain problems during the COVID-19 pandemic combined with government subsidies have created a wave of new semiconductor manufacturing projects in the U.S. There are some other interesting projects such as Lego’s new manufacturing plant in Virginia and Goldman Sachs’ regional headquarters in Dallas.
Mega site selection projects in the summer of 2022
The following is a list of some of the biggest project announcements during the Summer of 2022.
|Company||Location||Project Type||Capex ($M)||# of Jobs||Economic Incentives ($M)|
|Hyundai Motor Company||Savannah, GA||Electric Vehicle Manufacturing Plant||$5,500||8,100||$1,800|
|Panasonic Corporation||De Soto, KS||Lithium Ion Battery Manufacturing||$4,000||4,000||$829|
|Starplus Energy||Kokomo, IN||Electric Vehicle Batter Manufacturing||$2,620||1,400||$1,342|
|Ford Motor Company||Multiple locations, MI||Automotive Manufacturing||$2,000||3,200||$135|
|CF Industries||Ascension Parish, LA||Blue Ammonia Manufacturing||$2,000||103||$6|
|SkyWater Technology||West Lafayette, IN||Semiconductors||$1,800||750||$72|
|Lego||Chesterfield, VA||Toy Manufacturing||$1,000||1,760||$56|
|Hankook Tire and Technology||Clarksville, TN||Tire Manufacturing||$612||397||$6|
|Amazon||Niagara Falls, NY||Distribution Center||$550||1,000||$124|
|Bridgestone Americas||Morrison, TN||Tire Manufacturing||$550||380||$8|
|Eli Lilly and Company||Boston, MA||Life Sciences||$500||25||$0|
|Goldman Sachs Group||Dallas, TX||Regional Headquarters||$480||5,000||$18|
|Global Life Sciences Solutions||Muskegon, MI||Medical Therapeutics||$430||200||$6|
It is critical to evaluate the potential impact of these large projects on your company if you have operations near them or have been evaluating the location for a new facility. To help you stay ahead of these projects, please contact one of our site selection experts to help you evaluate your options.