The New Markets Tax Credit (NMTC) Program, established back in 2000 to spur economic development in blighted communities around the U.S., actually doesn’t exist anymore. But if the story of Mölnlycke Health Care and Brunswick, Maine, means anything, it's that the tax credit is about due to be revived.
South Carolina Governor Nikki Haley was joined by state and local economic development officials last Thursday evening to announce $38.2 million in new capital investment and 304 new jobs in South Carolina.
Georgia-Pacific says it will invest $40 million in an expansion at its Fort Smith plant, which manufactures paper plates and other paper products.
Drug maker Actavis Plc is investing $48 million to reactivate and expand two manufacturing plants in the U.S. territory of Puerto Rico.
The growth in April’s new orders was entirely due to large defense contracts which have very long lead times and thus do not reflect activity that is likely this year. Having said that, defense capital goods contracting has exploded in early 2014.
Using a new finance tool, she shows how the mismatch costs that result from extending the supply chain may well be higher than the lower cost offered by the offshore supplier, leading to reduced profits.
The Racine company best known for its garbage disposers is opening another manufacturing plant in Kenosha and will upgrade its operations in Racine.
High-end auto parts manufacturer Brembo S.p.A announced plans Wednesday to make North America its top market while celebrating expansion of its plant in southern Michigan.
Plastic Products Company Inc. (PPC), a manufacturer of plastics and injection molding, has announced its plan to invest $3.2M in a new facility in Seneca, S.C.
State officials have approved a major expansion of a toxic waste landfill in Central California that residents say has caused birth defects in children.
Permit and grant applications show the same British company that's building a wood pellet mill in Gloster is planning one in Magnolia.
Defense contractor Northrop Grumman, spurred on by millions in cash incentives from the state of Florida, announced plans for a major expansion of its already-existing operations in the state.
Economic activity in the manufacturing sector expanded in April for the 11th consecutive month, and the overall economy grew for the 59th consecutive month, say the nation’s supply executives in the latest Manufacturing ISM Report On Business.
Land O' Lakes also announced a multi-million dollar expansion to its Kiel facility. Among the improvements in the next few years will be new milk silos and new cheese vats.
The company has not said when they would be willing to announce the two top-runners. Musk also did not explain what would happen to the “losing” site after the company has already broke ground and decided to finish the plant elsewhere.
Honeywell International plans to add a new production line at its plant in Chesterfield County to meet demand for high-grade nylon polymers.
Plant manager Todd Cantrell said Wednesday the expansion will make the site the largest 3M plant in Missouri and one of the largest in the country. The project will create 22 new jobs.
Gov. Alejandro Garcia Padilla says the Arizona-based aerospace industry company is opening a second plant that will begin operations in April 2016. He said Wednesday that 310 jobs will be created.
Headquartered in Fort Wayne, Ind., PHD is investing $4.18 million to equip its 76,000 square-foot production facility in Huntington. Multi-axis CNC equipment will be installed in the coming weeks with plans to begin insourcing production of CNC-machined parts.
Tesla delivered its first eight electric sedans to customers in China on Tuesday and CEO Elon Musk said the company will build a nationwide network of charging stations and service centers as fast as it can.
The reality is that today’s big corporations are really only focused on three things — cost reduction, profitability, and increasing returns to their investors. They are not moral, patriotic, loyal, or immoral, and we cannot and should not depend on them to devote anything more then lip service to the plight of the middle class or the decline of American manufacturing.
The Federal Reserve reported that total industrial production (consisting of manufacturing, mining, and utilities) grew 0.7 percent during March. Manufacturing, which accounts for the lion’s share of total industrial production, grew a healthy 0.5 percent.
This total, as reported by companies participating in the USMTO program, was down 6.6% from January and down 6.2% when compared with the total of $377.82 million reported for February 2013. With a year-to-date total of $733.82 million, 2014 is down 0.6% compared with 2013.
South Carolina-based gun manufacturer Palmetto State Armory (PSA) has announced plans to expand its facility in Lexington, S.C., with a $4.2 million investment.