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.

08.22.24 | Newsroom

Broad Support for TVA’s Advanced Nuclear Leadership

The Tennessee Valley Authority Board of Directors, on Thursday, approved $150 million in additional advanced nuclear funding to support continued design work and TVA’s development of potential small modular reactors (SMRs) at its Clinch River site near Oak Ridge, Tenn. The Board, which approved an initial $200 million at its February 2022 board meeting, has…

08.13.24 | Newsroom

MD Carts LLC to Expand in Johnson City, Tennessee

MD Carts, LLC, a manufacturer of golf carts, announced plans to expand operations in Johnson City, Tennessee. Plans for the project include creating 200 new jobs and investing $10 million to allow for larger production capacity. Economic development partners include BrightRidge, the City of Johnson City, Washington County Economic Development Council and the Tennessee Department of Economic and Community…

08.12.24 | Newsroom

John Deere Power Products Announces Plans for Expansion in Greene County, Tennessee

John Deere Power Products, an agriculture, construction, forestry, and turf care equipment manufacturer, announced plans to expand operations in Greene County, Tennessee. The company plans to create 25 new jobs and invest $15 million to meet increased demand and expand its manufacturing presence in Greeneville. Economic development partners include Greeneville Energy Authority, Greene County Partnership and the Tennessee Department…

07.31.24 | Newsroom

PANTHERx Rare to Establish New Dispensing Facility in Collierville, Tennessee

PANTHERx Rare, a pharmacy and wholesale company, announced plans to establish operations in Collierville, Tennessee. Plans for the project include creating 120 new jobs and investing $4 million in the company’s new dispensing facility. Economic development partners include Memphis Light Gas, and Water, the Greater Memphis Chamber and the Tennessee Department of Economic and Community Development. This project furthers…

07.23.24 | Newsroom

Liebherr Announces Plans for New Facility in Tupelo, Mississippi

Liebherr, one of the world’s largest manufacturers of construction equipment, announced plans to establish operations in Tupelo, Mississippi. Plans for the project include creating 180 new jobs and investing $176 million, with potential for future growth at the company’s Lee County distribution and manufacturing operations. Economic development partners include Tombigbee Electric Power Association, the Community…

07.22.24 | Newsroom

Howmet Aerospace Inc. Expands Footprint in Morristown, Tennessee

Howmet Aerospace Inc., an international provider of advanced engineered solutions, announced plans to expand operations in Morristown, Tennessee. Plans for the project include creating 50 new jobs and investing $28 million in its Hamblen County facility. Economic development partners include Morristown Utilities, the Morristown Area Chamber of Commerce and the Tennessee Department of Economic and…

07.18.24 | Newsroom

Ashley Furniture Industries Plans Expansion in Lee County, Mississippi

Ashley Furniture Industries, the world’s largest manufacturer of home furnishings, announced plans to expand operations in Lee County, Mississippi. Plans for the project include creating 500 new jobs and investing $80 million at the company’s Verona facility. Economic development partners include Tombigbee Electric Power Association, Mississippi Development Authority, and the Community Development Foundation. This project…

06.27.24 | Newsroom

Shape Corp. Announces New Facility in Huntsville, Alabama

Shape Corp., an automotive manufacturing supplier, announced plans to establish new operations in Huntsville, Alabama in addition to their existing Athens, Alabama location. The company plans to create 100 new jobs and invest $74 million in its Huntsville facility. Economic development partners include Limestone County Economic Development Association, Athens Utilities, State of Alabama Department of…

06.11.24 | Newsroom

Lazestar Inc. Plans Expansion in Williamson County, Tennessee

Lazestar, Inc., a manufacturing and laser welding company, announced plans to establish operations in Williamson County, Tennessee. The company plans to create 25 new jobs and invest $5 million in its Fairview facility. Economic development partners include Middle Tennessee Electric, Williamson Inc., and the Tennessee Department of Economic and Community Development. This project furthers TVA’s…

06.10.24 | Newsroom

Toyota Motors Manufacturing to Expand Operations in Madison County, Alabama

Toyota Motors Manufacturing announced plans to expand operations in Madison County, Alabama. The company plans to add 350 new jobs and invest $282 million with this latest expansion. Economic development partners include Huntsville Utilities, Madison County, City of Huntsville, Huntsville Madison Chamber of Commerce, and the Alabama Department of Commerce. This project furthers TVA’s mission…

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News Index

Hyosung HICO to Expand Operations in Memphis, Tennessee

Hyosung HICO, a power transformer manufacturer, announced plans to expand operations in Memphis, Tennessee. Plans for the project include creating 120 new jobs and investing $51 million in the company’s U.S. manufacturing headquarters. Economic development partners include Memphis Light Gas and Water, the Greater Memphis Chamber, Memphis Shelby County EDGE and the Tennessee Department of...

GE Aerospace Announces Plans to Expand Operations in Batesville, Mississippi

GE Aerospace, an aerospace and defense company, announced plans to expand operations in Batesville, Mississippi. Plans for the project include creating 100 new jobs and investing $11 million as the company increases production at the Panola County site. Economic development partners include Tallahatchie Valley Electric Power Association, Panola Partnership, and the Mississippi Development Authority. This...

Troax Group to Locate Operations in Portland, Tennessee

Troax Group, a wire mesh safety solutions manufacturer, announced plans to locate operations in Portland, Tennessee. Plans for the project include creating 120 new jobs and investing $23 million in the company’s Robertson County operations. Economic development partners include Cumberland Electric Membership Corporation, the City of Portland, Robertson County and the Tennessee Department of Economic...