Monday, 02 May 2011 14:49

Morgan County #2 in the state for Expanding Investment

Based on MCEDA's 2010 calendar year numbers, the Alabama Development Office has ranked Morgan County #2 in the state for expanding investment with $203,283,240 and #3 for overall investment.

Morgan County’s expanding numbers so far for fiscal year 2010-2011 total $169,100,000, which is more than the total invested in MCEDA’s fiscal year 2009-2010.

Since October 2010, the start of our fiscal year, there have been seven non-confidential expansions announced. In October, General Electric invested $43 million while adding 20 jobs to create a center of excellence for top-freezers and “green” manufacturing and invested another $16 million to transition to a new product insulation process. In December 2010, Ascend Performance Materials added machinery and equipment to produce more of the intermediate precursor for the nylon they manufacture, investing $6.5 million; Bunge North America invested $85 million to expand their refinery facilities to include palm oil and cotton seed and to improve their packaging facilities for their customers, adding 45 new jobs; and INEOS invested $5.5 million on a project to help reduce the residual monomer level in its products, helping address safety concerns and making it more competitive. Nucor Steel announced in February that they would be adding an $8.5 million high pressure water system to its hot strip mill and in March, Sonoco Products-Wood Reels announced they would be creating 28 jobs and investing $4.6 million by adding 7,000 square feet to make wooden plugs that go in the end of paper cores.

With the economic downturn behind us, we’re moving forward and hopefully this is a sign of what’s to come for Morgan County!

 

 

 

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