More: Bobrick Washroom Equipment to make third investment in Jackson, $17 million
As suppliers continue to recognize Jackson and the county’s proximity to Blue Oval City, just 45 minutes down the road, Madison County Mayor A.J. Massey says Alu’s investment is it’s a testament to the area being a welcoming place to do business.
“We’ve had some second and third-tier suppliers that have located to Madison County but this is our first right-to-the-factory supplier, so that’s going to show a perfect concept that we are within that circle that can access Blue Oval quickly and make it make sense for companies to locate here,” Massey said.
Alu comes as Jackson’s eighth Asian company, in addition to the seven existing Japanese automotive industries, and the first existing South Korean company. The ALUKO group is comprised of entities including Alutec, Hyundai Aluminum, Gogang Aluminum, and supplies to companies like LG and Panasonic.
Tracey Exum, Southwest Regional Director for the Tennessee Department of Economic and Community Development, says South Korean-based industries have invested more than $4.5 billion in Tennessee since 2019, creating 3,500 new jobs.
“That makes this country, the number one country in Tennessee for foreign direct investment,” Exum said.
The Alu announcement comes on the tail end of the Chamber’s announcement on Dec. 11 that an existing Madison County industry, Bobrick Washroom Equipment, is investing another $17 million and creating 26 new jobs.
Kyle Spurgeon, Greater Jackson Chamber President/CEO, noted that “success breeds success” and that other prosperous companies who have taken a chance on Jackson are catalysts for new ones seeking to invest.
Spurgeon has routinely shared that companies looking to invest in Jackson-Madison County must meet the criteria of high capital investment, employee number caps, and high-paying wages.
“That validates Jackson as a great place to do business,” Spurgeon said. “We’re working with new companies looking at making investments and when they see who’s already here, it gives them the comfort level that if they can be successful in Jackson, so can we.”
Hiring at Alu, located at an existing facility on Premier Dr., will begin in March 2025, and operations will begin at a date to be announced.
Sarah Best is a reporter for The Jackson Sun. To support local journalism, subscribe to the Daily Briefing here.
Source link : http://www.bing.com/news/apiclick.aspx?ref=FexRss&aid=&tid=676279d0d7f443a8a44d775edfbcf090&url=https%3A%2F%2Fwww.tennessean.com%2Fstory%2Fnews%2Flocal%2F2024%2F12%2F17%2Fjacksons-first-existing-south-korean-company-alu-materials-america-inc%2F77057151007%2F&c=6849045891779313673&mkt=en-us
Author :
Publish date : 2024-12-17 12:01:00
Copyright for syndicated content belongs to the linked Source.
