SOUTH CAROLINA
BorgWarner Inc. expanding operations in Oconee County
BorgWarner Inc., a leading automotive technology supplier, announced that it was expanding its existing operations in Oconee County. The expansion is expected to result in $71.9 million in capital investment and more than 160 new jobs. Womble Carlyle assisted the company with securing incentives for the project. Read more details from the Office of the Governor here.
Volvo Cars growing Berkeley County operations, creating more than 1,900 new jobs
Volvo Cars announced that it is investing an additional $520 million in its Berkeley County operations and creating 1,910 new jobs. This new commitment adds to the company's initial 2015 announcement and brings the collective total to more than $1 billion in investment and 3,900 jobs. The expansion will increase manufacturing capacity and add office space for training, research and development, operations management activities and a southern regional sales office.
Read the complete lowcountrybizSC article here.
Thorne Research celebrates groundbreaking of new South Carolina Facility
On September 29th, Thorne Research, Inc., a leading health and wellness technology company, celebrated the groundbreaking of its new manufacturing center and corporate headquarters complex in Berkeley County. South Carolina and Berkeley County celebrated with a reception at the new Thorne facility and remarks by South Carolina Governor Henry McMaster and Berkeley County Council Economic Director Barry Jurs. Womble Carlyle assisted the company with securing incentives for the project.
Read the article in its entirety on the Womble Carlyle website.
NATIONAL NEWS
Beyond "Amazon Idol" toward a real regional growth strategy
Are we all getting sidetracked by the bidding war for Amazon's second headquarters? Read the full text from Brookings here.
Amazon and its new headquarters: Buyer beware and 'winner's curse'
Multiple states and regions are bidding to be selected as the site for a $5 billion second headquarters for Amazon.com Inc. Read the full article from Phoenix Business Journal Here.
ALABAMA
How much in incentives will Autocar receive for Birmingham plant?
Autocar LLC announced that it is investing $120 million in a new facility in the Birmingham metro area that will create 746 new jobs. According to the Alabama Department of Commerce, Autocar could receive up to $24 million in incentives from the state, including an estimated $9.7 million in jobs credits, $8.4 million in investment credits, and $6.5 million in reimbursement for eligible capital costs. The AIDT will also provide services and incentives valued at nearly $5 million.
Read the full article from Birmingham Business Journal here.
GEORGIA
Georgia adopts manufacturing machinery, equipment, industrial materials, packaging supplies rule
The Georgia Department of Revenue recently adopted a rule explaining the sales and use tax exemptions for machinery and equipment necessary and integral to the manufacture of tangible personal property in a manufacturing plant, for repair and replacement parts associated with such machinery and equipment, and for industrial materials and packaging supplies.
Download a PDF of the rule provided by the GA Dept. of Revenue.
TENNESSEE
Tennessee pays to attract new business, with mixed results
The state's governor has made economic development one of his key priorities. Media groups in Tennessee investigate whether or not the investment has paid off.
Read the full article from The Tennessean here.
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