NEW & ANNOUNCEMENTS

Economic Development News & Announcements

Change happens quickly in our region. Check out the latest news and announcements from TVA Economic Development. For media inquiries, please contact us.

12.23.25 | Newsroom

Korea Zinc to Establish First U.S. Operations in Clarksville, Tennessee

Korea Zinc, the world’s leading comprehensive nonferrous metal manufacturer, announced plans to establish the company’s first U.S. operations in Clarksville, Tennessee. Plans for the project include creating 420 new jobs and investing more than $6 billion in the company’s facilities, representing the largest single private corporate investment made in Tennessee history. Economic development partners include…

12.18.25 | Newsroom

AFKA Aluminum Solutions to Establish Operations in Bowling Green, Kentucky

AKFA Aluminum Solutions, a full-cycle aluminum production company, announced plans to establish operations in Bowling Green. Plans for the project include creating 331 new jobs. This announcement marks the first Uzbekistani company to establish manufacturing operations in the U.S. Economic development partners include the Bowling Green Area Chamber of Commerce, Kentucky Cabinet for Economic Development…

12.17.25 | Newsroom

T.RAD North America Announces Plans to Establish Operations in Montgomery County

T.RAD North America, a global radiator manufacturer, announced plans to establish operations in Montgomery County. Plans for the project include creating 930 new jobs and investing $90 million in the company’s Clarksville operations. Economic development partners include Cumberland Electric Membership Corporation, the Tennessee Department of Economic and Community Development, and the Clarksville, Montgomery County Industrial…

12.15.25 | Newsroom

Kroger Establishes Operations in Franklin, Kentucky

Kroger, a leading U.S. grocer, announced plans to establish operations in Franklin, Kentucky. Plans for the project include creating 430 new jobs and investing $391 million in the company’s distribution center. Economic development partners include Warren RECC, Franklin-Simpson Industrial Authority, and the Kentucky Cabinet for Economic Development. This project furthers TVA’s mission of service to…

12.10.25 | Newsroom

Eli Lilly Announces Plans to Establish Operations in Huntsville, Alabama

Eli Lilly, a leading pharmaceutical company, announced plans to establish operations in Huntsville, Alabama. Plans for the advanced manufacturing facility include creating 450 new quality jobs and investing $6 billion, which represents the largest initial investment in the state’s history. Economic development partners include Alabama Department of Commerce, Athens Utilities, Huntsville-Madison County Chamber of Commerce,…

12.1.25 | Newsroom

Toyota to Expand its U.S. Manufacturing Presence in Jackson, Tennessee and Blue Springs, Mississippi

Toyota, a global automotive manufacturer, announced plans to expand its U.S. manufacturing presence, including two locations within TVA’s footprint. Toyota announced plans to invest $125 million in the company’s Blue Springs, Mississippi facility and $71.4 million along with 33 new jobs at its casting plant in Jackson, Tennessee. Economic development partners include Mississippi Development Authority,…

11.24.25 | Newsroom

Hyosung HICO Announces Expansion in Memphis, Tennessee

Hyosung HICO, a global power transformer manufacturer, announced plans to expand operations in Memphis, Tennessee. Plans for the project include creating 240 new jobs and investing more than $150 million as the company constructs a new facility at its U.S. headquarters, marking the second expansion project at the facility in six months. Upon completion, the…

11.20.25 | Newsroom

Carlex Glass America to Expand in Nashville, Tennessee

Carlex Glass America, a precision-formed automotive glass manufacturer, announced plans to expand operations in Nashville, Tennessee. Plans for the project include creating 143 high-skilled jobs and investing $55 million in the company’s Davidson County operations. Economic development partners include Nashville Electric Service, the Tennessee Department of Economic and Community Development, and the Metropolitan Government of…

11.10.25 | Newsroom

Aqua Membranes Announces New Operations in Knoxville, Tennessee

Aqua Membranes, a reverse osmosis membrane manufacturer, announced plans to establish operations in Knoxville. Plans for the project include creating 95 new jobs and investing more than $6.5 million in the company’s new facility. Economic development partners include Knoxville Utilities Board, the Industrial Board of Knox County, Oak Ridge National Laboratory, East Tennessee Economic Development…

11.4.25 | Newsroom

Fratco To Establish Operations in DeKalb County, Alabama

Fratco a leader in corrugated plastic pipe manufacturing, announced plans to establish operations in DeKalb County, Alabama. Plans for the project include creating 50 new jobs at the company’s state-of-the-art manufacturing facility. Economic development partners include DeKalb County Economic Development Authority, the Fort Payne Improvement Authority, the City of Fort Payne, and the Alabama Department…

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News Index

Virginia Transformer announces plans to establish operations in Muscle Shoals, Alabama.

Virginia Transformer, North America’s largest power transformer manufacturer, announced plans to establish operations in Muscle Shoals, Alabama. Plans for the project include creating 1,100 new jobs at the company’s state-of-the-art operations in Colbert County. Economic development partners include Muscle Shoals Electric Board, Shoals EDA, Alabama Department of Commerce, Norfolk Southern, City of Muscle Shoals, Colbert County and...

Underground Solutions, Inc. announces plans to establish operations in Batesville, Mississippi.

Underground Solutions, Inc., an infrastructure technology company, announced plans to establish operations in Batesville, Mississippi. The company plans to invest $80 million in the manufacturing facility and create 50 new jobs. Economic development partners include Tallahatchie Valley Electric Power Association, Panola Partnership, Mississippi Development Authority and TVA. This project furthers TVA’s mission of service to help improve the...

Light Electric Vehicles announces plans to establish operations in Algood, Tennessee.

Light Electric Vehicles (LEV), an electric bicycle manufacturer, announced plans to establish operations in Algood, Tennessee. Plans for the project include creating 288 new jobs and investing $7 million in the company’s Putnam County production and distribution facility. Economic development partners include Upper Cumberland Electric Membership Corporation, the Tennessee Department of Economic and Community Development, Highlands Economic Partnership, Putnam County...