Morgan County Economic Development Association Announces Impressive New and Expanding Industry Numbers for 2017
Morgan County Economic Development Association (MCEDA) announced that during the 2017 calendar year, Morgan County has announced two new industries, thirteen non-confidential expansions, and five confidential expansions or equipment upgrades for a total of $535,439,962 in new capital investments and 436 new jobs. Morgan County is a consistent leader in Alabama in existing industry expansion and is currently home to approximately 150 industries, including twelve Fortune 500 companies and eight Global 500 companies.
Some of the largest economic development projects include: Hexcel Corporation, with a project that will create approximately 88 new jobs and $199,400,000 in capital investment for their 7th polyacrylonitrile (PAN) line and their first carbonization line at the Decatur location; United Launch Alliance with an announced capital investment of more than $115 million for new technology and infrastructure for their next generation Vulcan rocket; Bunge Corporation, which announced over $72 million in new capital investment for upgrading and replacing their soybean processing equipment; and Wolverine Tube announcing that they are bringing production back to Decatur by installing equipment to manufacture aluminum components creating approximately 250 new jobs at their existing facility.
“We’re grateful for another banner year at Morgan County Economic Development Association with over half a billion dollars in new investments announced,” said Arthur Orr, Chairman of the MCEDA Board of Directors. “The impact for our local schools will be significant as these projects come to fruition. We owe our economic development team a lot of thanks for their successful efforts in 2017.”
“This amount of capital investment is the largest we have announced in over five years. We are grateful to our existing industries for continuing to reinvest in Morgan County, and their strong commitment also helps us attract new companies to our community,” said Jeremy Nails, President of MCEDA.