Manufacturing businesses considering a capital equipment investment may want to act now to take full advantage of long-standing capital equipment tax breaks set to expire on Dec. 31 and IRS equipment depreciation guidelines providing year-end benefits.
The Folgers Coffee Co. plans a $5 million expansion in eastern New Orleans as parent J.M. Smucker Co. continues consolidating coffee production. A new $3 million administration building will have bigger offices, not more people, Smucker spokeswoman Maribeth Burns told New Orleans CityBusiness (http://bit.ly/1aIm1oF).
The Indianapolis company said Thursday it will spend $350 million to expand its insulin cartridge manufacturing in China, another $120 million for a similar improvement in France and $245 million to boost manufacturing capacity in Puerto Rico and Indianapolis.
Sogefi Group plans to expand its auto parts plant in Wayne County and create 250 new jobs. Gov. Earl Ray Tomblin announced the expansion Tuesday. Tomblin met with Sogefi Group CEO Guglielmo Fiocchi in France during a 13-day investment trip to Europe in October.
DeWalt, the manufacturer of industrial power tools, has announced its intention to build more than 600 different cordless power tools, hand tools and accessories in the U.S., using globally-sourced materials. The company says its 75,000-square-foot facility near Charlotte, N.C., has been producing tools since early October.
Raytheon Space and Airborne Systems President Rick Yuse said in a news release that the expansion reflects an anticipated growth in airborne radar and electronic warfare markets. The Mississippi Development Authority is giving the company $6 million to pay for renovation and infrastructure, as well as for the construction of the 20,000-square-foot addition.
The need for a good workforce is critical, Jackson says. Only if the available workforce is good can a company even consider locating or expanding in a certain region. He adds, “I almost refer to it as peeling an onion. Every layer has its purpose, but the core is the workforce. The most important is the workforce.”
Emerson Process Management has today announced the opening of its new $25 million headquarters for the design, testing and manufacture of its regulator technologies. The company says these products include pressure regulators and relief valve solutions for the oil & gas, chemical and power industries.
Automotive parts maker BorgWarner Inc. is expanding its operations in Seneca, S.C. and creating more than 100 jobs. The state Commerce Department said Friday that BorgWarner is investing nearly $25 million and expects to create 105 new jobs.
Fitesta Simpsonville, Inc., today announced its plans to expand its existing Greenville Country facility to significantly increase production capacity for its spunmelt nonwoven hygiene products. The company says its $50 million investment, which will remodel the 190,000-square-foot facility, will create at least 32 new jobs.
Gov. Nathan Deal announced Wednesday that Caesarstone is planning to invest between $70 million and $100 million in the new plant in Richmond Hill — about 20 miles southwest of Savannah. Deal says the company will import raw materials to make new countertops, and will export the finished products from Georgia's ports.
Customers lined up at The Alchemist brewery to buy cases of Heady Topper, the double IPA that Beer Advocate magazine recently ranked No. 1 out of the top 250 beers in the world. The hoppy concoction is so popular — sales have grown 600 percent in the two years since the brewery opened on the outskirts of Waterbury — that owners Jen and John Kimmich plan to shutter their retail operation on November 15 to avoid a neighborhood dispute.
A fiber-optic cable manufacturer is planning to expand its Culpeper operations, creating 30 jobs. Gov. Bob McDonnell said Wednesday that TE Connectivity Ltd. will invest more than $15 million in the expansion.
KI Logistics today announced its plans to invest $11.5 million to establish its new North American headquarters and logistics facility at The Matrix Business and Technology Park in Greenville County. With the new investment , the company plans to create as many as 149 new jobs over the next several years. The 206,000-square-foot facility will be fully operational by July 2014.
Owens Corning, a manufacturer of fiberglass and related products, has announced its plans to construct an advanced manufacturing plant in the Gastonia Technology Park (GTP). An initial investment of $120 million will create up to 110 new jobs, with a planned completion by the end of 2014.
Intelligrated today announced its plans to expand its southern operations, based out of Alpharetta, Ga., into a new 54,000-square-foot facility that will accommodate staff from both Intelligrated and Knighted. The company says the expansion has been planned ahead of expected growth within the region.
Roughly a year ago, GE and other thought leaders in the industry — Boeing, Lockheed Martin, Alcoa and The Manufacturing Institute — launched the Get Skills to Work initiative, a coalition aimed at closing the skills gap and specifically, to supporting veterans as they transition to careers in advanced manufacturing.
3D Systems (NYSE:DDD) announced today its plan to invest $10 million into its Rock Hill, S.C., manufacturing operations, which will create 145 new jobs. Local officials applauded the announcement, saying the company has a history of creating high quality and high-paying jobs that utilize many of the latest in manufacturing technologies.
Most food and beverage manufacturers are familiar with equipment leasing and financing but may not know the kinds of specific information they need to make the best financing decisions for their investments in equipment or software. Understanding the ways in which leasing fits your company’s particular needs can help to build a solid business case for financing as well as determine which financing option to choose.
With regard to capital spending, 48 percent of industrial products manufacturers surveyed plan major new investments of capital during the next 12 months, up eight points from the prior quarter’s 40 percent, and on par with a year ago (49 percent). The mean investment as a percentage of total sales was 6.5 percent, higher than the prior quarter’s four percent, and representing the highest level in the past nine quarters.
ATI Industrial Automation today has announced that it will break ground on a new manufacturing expansion on Friday, October 18. The company says demand for its end-effector products has led to the expansion, which will more than double its robotics tool manufacturing operations to 129,000 square feet. This investment will add more than 200 job in the future.
Trident Case today announced plans to move 50 to 75 percent of its manufacturing operations from China to southern California in 2014. To that end, the company had previously acquired a 42,000-square-foot manufacturing facility in Rancho Cucamonga to facilitate the expansion.
Ithaca Gun Company has today announced that it will expand its manufacturing operations in the Myrtle Beach area. The company plans to invest $6.7 million, creating 120 new jobs for machine operators, gunsmiths, engineers and assemblers.
When South Carolina gave Daimler Trucks $2 million to buy land in York County five years ago, the hope was the vehicle-maker would move its company's headquarters to the region. But now Daimler Trucks is trying to sell the undeveloped land on Lake Wylie after deciding to expand its current headquarters in Portland, Ore.
Chrysler Group says it's investing more than $1.2 billion in two Mexican plants to build commercial vans and engines. Chrysler CEO Sergio Marchionne confirmed the amount Thursday at the dedication of Chrysler's new Van Assembly Plant in Saltillo.