Transformative Manufacturing Announcements in 2022
by Josh Bays, on Feb 15, 2022 2:27:29 PM
While it seems like we just published an article discussing large, transformative manufacturing projects from last year, the beginning of 2022 is off to a strong start. As a result, Site Selection Group, a leading location advisory, and economic incentives firm, researched site selection trends for large-scale manufacturing projects announced in early 2022.
Notable manufacturing announcements
Site Selection Group identified the “mega projects” below as deals that could affect the competitive landscape in their prospective regions:
1. Boom Aerospace, Greensboro, North Carolina
With an estimated $500 million in capital investment and plans to hire 1,750 people by 2030, this project is impactful for both the city of Greensboro and the entire state of North Carolina. As this project was near and dear to us at Site Selection Group, we are incredibly excited for Boom Aerospace to find a home. Boom founder and CEO Black Scholl cited the aviation talent and geographic positioning close to the Atlantic Ocean as key reasons for selecting Greensboro and the Piedmont Triad International Airport. This comes on the tails of another large Greensboro announcement made in December 2021: Toyota’s $1.3 billion battery plant. Of note in the aerospace industry, Sierra Nevada Corp. also announced Dayton International Airport in Dayton, Ohio, as the site for two aircraft maintenance repair and overhaul facilities.
2. Tritium, Lebanon, Tennessee
Tritium announced its first U.S. manufacturing facility in Lebanon, Tennessee, which is approximately 30 miles from Nashville. They intend to hire 500 employees over the next five years. Tennessee has been a key location for electric vehicle and battery manufacturing as Ford announced their West Tennessee mega-site project there last September.
3. Tyson, Bowling Green, Kentucky
Also in the fast-growing food and beverage industry, Tyson Foods broke ground on its 400,000-square-foot facility. Tyson estimates a capital expenditure of $355 million and employment of 450 people. This facility is designed to help meet the demand for bacon production, namely for Wright and Jimmy Dean brands.
4. Eli Lilly, Concord, North Carolina
Lilly announced another North Carolina investment to create a new manufacturing site in Concord. This facility will manufacture injectable products and devices. Eli Lilly plans to create almost 600 new jobs and invest over $1 billion in this site.
5. Sunlit Chemical, Phoenix, Arizona
Sunlit Chemical, a Taiwan chemical company, chose Phoenix for its first U.S. location to help supply needs from Phoenix’s growing semiconductor and chipmaking industry. Sunlitplan s to invest $100 million over two phases into the 900,000-square-foot facility.
All in all, 2022 is shaping up to be an incredibly dynamic and transformative year. While it is impossible to know where the next big project will locate, Site Selection Group can advise its clients, on the most up-to-date market conditions due to our experience, project volume, and relationships.