Oak Ridge Today

LeMond Composites to make carbon fiber, composite bicycles—invest $125 million, create 242 jobs

Posted at
By Leave a Comment

lemond-composites-greg-lemond-2-oct-12-2016-web

Greg LeMond, three-time Tour de France champion, celebrated the opening of LeMond Composites, a new company he co-founded, during a ceremony on Wednesday afternoon, Oct. 12, 2016, at Horizon Center in west Oak Ridge. The company is expected to make composite bicycles and carbon fiber, and invest $125 million and create 242 new jobs. (Photo by John Huotari/Oak Ridge Today)

A new company co-founded by Greg LeMond, a three-time Tour de France champion, will make composite bicycles and carbon fiber for other products in Oak Ridge, and the business, called LeMond Composites, will invest $125 million and create 242 new jobs, officials said during a Wednesday afternoon ceremony.

Among the officials celebrating the opening on Wednesday were LeMond, and Tennessee Economic and Community Development Commissioner Randy Boyd.

Carbon fiber has advantageous properties, but cost has been a barrier to using it, said Connie Jackson, chief executive officer of LeMond Composites. She said the manufacturing process has been changed to reduce production cost.

“We have overcome a significant part of the cost barrier,” Jackson said.

Carbon fiber is light, stiff, and strong, making it the perfect material for advanced composites in a variety of applications. It can be used to improve efficiency, save energy, and build or repair vehicles and planes, wind turbines and containers, and bridges and tunnels. [Read more…]

Metal powder manufacturing company investing $313 million in Oak Ridge, adding 620 jobs

Posted at
By 11 Comments

Michael Hargett and Kamran Khoza of CVMR USA

CVMR President Michael Hargett, left, and Kamran Khozan, chairman and chief executive officer, joined local, state, and federal officials on Friday to announce they’re moving company headquarters from Toronto to Oak Ridge, investing $313 million and adding 620 jobs.

 

Note: This story was last updated at 12 a.m.

A company that manufactures high-purity metal powders and super alloys is moving its operations to Oak Ridge from Toronto, Canada, and investing $313 million here and creating 620 jobs, officials said Friday.

CVMR, which has operations in 18 countries, will use the former Theragenics building at Horizon Center in west Oak Ridge for its headquarters and research and development. The company closed on that building, which is on 21 acres, on Friday, but executives declined to disclose the sale price.

The first employee was hired Thursday, said Kamran Khozan, chairman and chief executive officer of CVMR (USA) Incorporated.

The company could expand that 65,000-square-foot building; infrastructure that is already in place allows it to be doubled. The company could put 218 people to work right away in its new headquarters and add 402 high-paying manufacturing jobs later, a state official said.

“I can promise you that this is the start of a wave,” said Randy Boyd, the new commissioner of Tennessee Economic and Community Development. [Read more…]

3M will invest $135 million, create 100 jobs at Clinton manufacturing facility

Posted at
By 1 Comment

Food Lion Distribution Center and 3M Company Manufacturing

The 3M Company purchased the former Food Lion Distribution Center on J.D. Yarnell Industrial Parkway in the Eagle Bend Industrial Park in Clinton on Friday. 3M paid roughly $14.4 million for the 772,00-square-foot building on 160 acres, and the company will use it to make products for the oil, gas, and automotive industries. (Photo courtesy Tim Thompson/Anderson County Economic Development Association)

 

Governor Bill Haslam

Bill Haslam

Note: This story was updated at 2:30 p.m. Dec. 8.

NASHVILLE—The 3M Company has purchased the former Food Lion distribution center in the Eagle Bend Industrial Park in Clinton and will use it to manufacture products for the oil, gas, and automotive industries. The company is expected to invest $135 million and create 100 new jobs in Anderson County.

Tennessee Governor Bill Haslam and Economic and Community Development Commissioner Bill Hagerty joined 3M Company officials in Nashville to announce the company’s investment on Friday afternoon.

3M purchased the 772,000-square-foot building on 160 acres on J.D. Yarnell Parkway in the Eagle Bend Industrial Park for roughly $14.4 million. The sale closed on Friday, said Tim Thompson, president of the Anderson County Economic Development Association. [Read more…]

Roane economic development group considers distribution of public image funds

Posted at
By Leave a Comment

The Roane County Economic Development Foundation will meet in a special meeting at 9 a.m. Monday, September 8, at Kingston City Hall to consider the distribution of public image funds.

Participants will include Roane County Economic Development Foundation members, Tennessee Valley Authority Senior Vice President Bob Deacy, TVA Senior Vice President John Bradley, TVA Vice President Justin Maierhofer, TVA Senior Manager Leslie Nale, Roane County Executive Ron Woody, Kingston Mayor Troy Beets, Harriman Mayor Chris Mason, and Rockwood Mayor Jim Watts.

Kingston City Hall is at 900 Waterford Place in Kingston.

TVA said its support for economic development priorities in Roane County and its communities are an important part of TVA’s commitment to contribute to the area’s long-term development.

SL Tennessee expansion could be largest in industrial employment since World War II

Posted at
By 1 Comment

SL Tennessee Expansion Media Availability

Tennessee Gov. Bill Haslam, center, announces 1,000 new jobs as part of an $80.5 million expansion at auto parts manufacturer SL Tennessee in Clinton. Also pictured from left are Anderson County Mayor Terry Frank, U.S. Sen. Lamar Alexander, U.S. Rep. Chuck Fleischmann, Clinton Mayor Scott Burton, and U.S. Senator Bob Corker.

 

Note: This story was last updated at 11:30 a.m. July 26.

CLINTON—The 1,000 new jobs announced at SL Tennessee in Clinton on Friday could be the largest expansion of industrial employment in Anderson County since World War II, officials said.

SL Tennessee, an auto parts manufacturer, plans to invest $80.5 million to build a 250,000-square-foot plant on Frank L. Diggs Drive in the Clinton I-75 Industrial Park. It will be SL Tennessee’s LLC third building in the park, and the company’s fifth expansion since locating in Clinton in 2001. The new building will manufacture automobile head lights and tail lamps for General Motors.

The jobs announcement was made in the South Korean company’s Chassis Plant on Friday near workers assembling gear shifters and brake assemblies, mostly for GM. Marking the importance of the announcement, Gov. Bill Haslam was invited to speak and so were U.S. senators Bob Corker and Lamar Alexander and Rep. Chuck Fleischmann.

“This is obviously a big day,” said Haslam, who announced the new jobs. “It shows our growth in the automotive business.”

It’s the second announcement of more than 1,000 jobs at an automotive plant in East Tennessee in the past two weeks. Last week, Volkswagen announced a $600 million investment and 2,000 new jobs in Chattanooga. [Read more…]

State, SL Tennessee announce 1,000 new jobs in Clinton

Posted at
By Leave a Comment

Submitted

CLINTON—Tennessee Gov. Bill Haslam and Economic and Community Development Commissioner Bill Hagerty, along with SL Tennessee LLC officials, announced Friday that the company will build a new 250,000 square foot building to join its two existing facilities in the Clinton/I-75 Industrial Park, a Select Tennessee Certified Site. The South Korean automotive parts manufacturer will invest $80.5 million and create 1,000 new jobs in Anderson County. Located in Clinton since 2001, this will be the company’s fifth expansion.

“I want to congratulate SL Tennessee on its latest expansion and thank the company for the 1,000 new jobs created in Clinton,” Haslam said. “SL Tennessee has been an outstanding corporate citizen in Anderson County for nearly 15 years, and we are grateful to the company for bringing us one step closer to our goal of making Tennessee the No. 1 location in the Southeast for high quality jobs.”

“Tennessee has the greatest concentration of automotive industry employment in the South and with the addition of 1,000 new jobs from today’s announcement, we continue to build on this momentum,” Hagerty said. “Upon completion of this project, SL Tennessee will more than double its workforce, making it the largest employer in Clinton and one of the largest in Anderson County. I appreciate SL Tennessee’s continued investment in our state and for providing quality jobs to our citizens.”

This is the second 1,000 plus jobs announcement in the past two weeks in the automotive sector. Last week, Volkswagen announced a $600 million investment in Tennessee and 2,000 new jobs being created in Chattanooga. [Read more…]

Roane Alliance receives TVA sustainable community award for 
Roane County

Posted at
By Leave a Comment

Roane Alliance Sustainability Award

Pictured from left are John Bradley, Tennessee Valley Authority; Danice Turpin, Tennessee Applied College of Technology; Teresa Jackson, The Roane Alliance; Leslie Henderson, The Roane Alliance; and Del Boyette, Boyette Strategic Advisors. (Submitted photo)

The Roane Alliance received a Silver Award on behalf of Roane County at a recent Tennessee Valley Authority sustainable communities luncheon.

The TVA Valley Sustainable Communities Program Recognition Luncheon was Dec. 3 in Nashville. The award ceremony honored 13 communities from across the Tennessee Valley Region.

Roane County’s trophy was presented by Heidi Smith, a general manager in TVA’s economic development program, to Leslie Henderson, president and chief executive officer of The Roane Alliance; Teresa Jackson, Roane’s sustainable officer of The Roane Alliance; and Danice Turpin, director of Tennessee Applied College of Technology, a member of the Roane Green Team. [Read more…]

Aisin auto casting announces $53.8 million expansion in Clinton

Posted at
By Leave a Comment

An auto parts manufacturer in Clinton has announced a second major expansion, a $53.8 million investment expected to create 81 new jobs during the next two years.

The investment was announced Tuesday by Tennessee Economic and Community Development Commissioner Bill Hagerty and executives from Aisin Holdings of America Inc.

The company’s subsidiary in Clinton is called Aisin Automotive Casting Tennessee, and it’s located along Frank L. Diggs Drive south of State Route 61 and just west of Interstate 75. It’s the company’s second major business expansion since locating in Tennessee in 2004. [Read more…]

TVA designates Oak Ridge a ‘platinum’ community

Posted at
By Leave a Comment

The City of Oak Ridge has achieved platinum status in the Tennessee Valley Authority’s new “Valley Sustainable Communities” program. This designation will enhance the city’s competitiveness for new investments and jobs when companies are looking to grow in new or expanded locations.

The program is sponsored by TVA and developed and administered by consultant Boyette Strategic Advisors.

“The platinum designation recognizes that the Oak Ridge community has made a significant and comprehensive commitment to sustainability and also has thoroughly integrated economic development into its sustainability efforts,” said Del Boyette, BSA president and chief executive officer. [Read more…]

Roane County takes green to a new level

Posted at
By Leave a Comment

TVA Sustainable Community Silver Seal

Roane County has been designated as a Valley Sustainable Silver Community by the Tennessee Valley Authority through a program initiated by their Economic Development department to help communities improve existing sustainability programs and increase their ability to attract new investment in their community.

Roane County recently completed the TVA-sponsored program, which was developed and administered by consultant Boyette Strategic Advisors. The program documents a community’s assets to increase the likelihood that it will be viewed as progressive and competitive by companies looking to invest in new or expanded locations. [Read more…]

TVA names Horizon Center site as primary data center site

Posted at
By Leave a Comment

Horizon Center Data Center Site

A 28-acre site at Horizon Center has been designated by the Tennessee Valley Authority as a site that is ready to recruit data centers. (Submitted photo)

The Tennessee Valley Authority has identified a 28-acre site at Horizon Center in west Oak Ridge as a potential data center site, a designation that will help Oak Ridge recruit companies, an official said.

“Having a primary data center site in Oak Ridge is a tremendous advantage and will definitely give us a competitive edge when recruiting data center prospects,” said Kim Denton, president and chief executive officer of the Oak Ridge Economic Partnership. [Read more…]