Celebrating Booming Businesses
The Valley region continues to thrive as a hub for innovation and advanced manufacturing.
From advanced energy industries to a growing aerospace sector, businesses are finding success across Tennessee, Mississippi and beyond.
Behind this momentum are TVA Economic Development team members working alongside local, state and regional partners to attract new companies and support the growth of existing businesses.
Between March and June of this year, several cutting-edge technology companies capitalized on the region’s competitive incentives and exceptional quality of life to expand their operations.
And TVA celebrates these recent wins.
“It’s always an exciting day when we can recognize a company’s commitment to growth in the region,” said John Bradley, senior vice president of TVA Economic Development. “Creating job opportunities and bringing investment to the region is fundamental to TVA’s mission of service and we’re proud to partner with innovative companies to further that mission. We celebrate these announcements together.”
Here are a few of the companies contributing to the region’s economic vitality.
Howmet Aerospace Inc.
This international aerospace company announced plans to expand operations in Morristown, Tennessee, creating 217 new jobs at its Hamblen County facility.
Key economic development partners include Morristown Utilities, the Morristown Area Chamber of Commerce and the Tennessee Department of Economic and Community Development.
“Howmet Aerospace’s Morristown operations play a critical role in enabling the next generation of quieter, cleaner, more efficient engines and power generation,” said Merrick Murphy, president of engine products at Howmet Aerospace. “We couldn’t be more excited to continue to grow in east Tennessee with the assistance of our tremendous state, local and regional partners.”
Hyosung HICO
Hico America, a power transformer manufacturer, is expanding its Memphis, Tennessee, operations. Plans for the project include creating 120 new jobs and investing $51 million in the company’s U.S. manufacturing headquarters.
Economic development support came from Memphis Light Gas and Water, the Greater Memphis Chamber, Memphis Shelby County Economic Development Growth Engine and the Tennessee Department of Economic and Community Development.
GE Aerospace
GE Aerospace plans to expand its operations in Batesville, Mississippi. The project is set to create 100 new jobs and bring $11 million in investments as the company increases production at its Panola County site.
Economic development partners include Tallahatchie Valley Electric Power Association, Panola Partnership and the Mississippi Development Authority.
“From the start, the GE Aerospace site has been at the forefront of manufacturing cutting edge parts that are key for the future of aviation. The site’s role and number of employees continues to grow,” said Brian Rapien, GE Aerospace plant leader at Batesville.
“These parts that are made from new, advanced materials play a key role in providing more efficiency and durability in GE Aerospace’s newest engines. We are grateful for the partnership we have with the county and Mississippi to strengthen manufacturing in the region.”
Troax Group
Troax, a wire mesh safety solutions manufacturer, announced plans to locate operations in Portland, Tennessee. The $23 million investment looks to create 120 new jobs in Robertson County. Economic development partners include Cumberland Electric Membership Corporation, the city of Portland, Robertson County and the Tennessee Department of Economic and Community Development.
“Troax Group is pleased to announce a major investment in Tennessee, marking a significant step in expanding our North American manufacturing operations,” regional president Jose Nunez said. “Our new Aspen Guard facility in Portland, serving both Folding Guard and Troax brands, will enable us to better provide our customers with top-tier mesh panel solutions for safe storage, machine guarding and warehouse partitioning. This investment underscores our commitment to the region, promising new jobs and a vibrant hub for ideas, talent and innovation.”
BWXT Enrichment Operations, LLC
This centrifuge assembly manufacturer announced plans to establish operations in Oak Ridge, Tennessee. The project includes creating 60 new jobs and investing $45 million to support the company’s long-term fuel production work for the National Nuclear Security Administration’s defense program.
Economic development partners include Oak Ridge Electric Department, Oak Ridge Industrial Development Board, Oak Ridge Corridor Development Agency, city of Oak Ridge, Roane County, Anderson County, East Tennessee Development Agency and the Tennessee Department of Economic and Community Development.
“The Oak Ridge community is a hub of innovation and nuclear expertise ready to support the NNSA’s national security mission,” said Kevin McCoy, president of government operations at BWXT. “The deployment of the domestically manufactured DUECE centrifuge resets our nation on the path to energy independence.”
Shinsung ST USA
This leader in energy storage solutions announced plans to invest $53 million and create 100 new jobs as it establishes operations in Franklin, Kentucky, located in Simpson County.
Support for the project came from Warren Rural Electric Cooperative Corporation, Franklin-Simpson County Industrial Development Authority and the Kentucky Cabinet for Economic Development.