Toyota Motor Manufacturing, Kentucky, Inc. (TMMK) recently announced that construction is underway at the assembly line that will produce the first U.S.-made Lexus. Last April, TMMK announced it would localize production of the ES 350, which has never been assembled outside of Japan.
For a majority of U.S. businesses, equipment financing is a critical source of funding, helping them to acquire the equipment they need to operate and grow. Equipment acquisition plays a critical role in driving the supply chains across all U.S. manufacturing and service sectors.
Rockford was a finalist for a massive Boeing plant before the aerospace company reached a deal with a union and agreed to build its 777X planes near Seattle, state officials said. "It speaks very well for the Rockford region how seriously Boeing took the Illinois proposal," one official said.
A new Carlisle Etcetera national distribution center is opening in Carroll County, and the English American Tailoring Company in Westminster is expanding. Maryland Gov. Martin O'Malley and Carroll County economic development officials made the announcement Tuesday.
Boeing delivered 65 of its 787s last year, even though deliveries were halted for a four months because of battery problems. Boeing was able to step up the pace once deliveries resumed in May, and it handed over 25 of the jets during the final quarter of last year.
Factory orders rose 1.8 percent in November, the Commerce Department said Monday. That follows a 0.5 percent decrease in October. Orders received by manufacturers totaled a seasonally adjusted $497.8 billion in November, the highest level on records dating to 1992
In a news release, Tennessee Economic and Community Development Commissioner Bill Hagerty and ArcelorMittal executives said the goal is for the facility to be fully operational by April 2014. ArcelorMittal says it plans to hire 61 new employees over the next two years in Roane County.
For the second time in three years, a company is promising to build a silicon metal production facility and add hundreds of jobs. Only this time, officials say it will be in Burnsville. In 2011, the company, Mississippi Silicon, eyed Lowndes County for a similar project.
Economic activity in the manufacturing sector expanded in December for the seventh consecutive month, and the overall economy grew for the 55th consecutive month, say the nation’s supply executives in the latest Manufacturing ISM Report On Business.
Most analysts are predicting that Americans bought around 1.4 million new cars and trucks last month, the fourth-best month of the year. That means the industry will finish 2013 with sales of about 15.6 million cars and trucks, roughly 8 percent better than the 14.5 million vehicles sold in 2012.
Chrysler finished 2013 with a 9 percent sales increase, posting its best annual numbers in six years as the auto industry's recovery hit full stride. The company said Friday that it sold just over 1.8 million cars and trucks last year, up from 1.65 million a year earlier.
Economic activity in the manufacturing sector expanded in December for the seventh consecutive month, and the overall economy grew for the 55th consecutive month, say the nation's supply executives in the latest Manufacturing ISM Report On Business.
The expansion by aeronautics giant Boeing will continue apace in South Carolina during 2014 as hundreds of jobs are moved in and new construction progresses in the Lowcountry, where the company now assembles its 787 Dreamliner. It's all part of company plans announced this year to invest another $1 billion in the state and create 2,000 jobs over eight years.
Magnetation Inc. of Grand Rapids, Minn., announced in late 2012 it would build the new factory at the site of an abandoned ethanol plant in the White County town of Reynolds. Several large buildings for the factory are under construction at the site.
With demand for gun products booming, Brownells Inc. is building a large distribution and retail center along Interstate 80 in Grinnell. The central Iowa city of 9,100 is home to Grinnell College, a selective liberal arts institution proud of its commitment to social justice.
Volkswagen Group announced today that it has grown by about 248,000 employees, representing a rise of 76 percent, since 2007. 123,000 of those are new jobs created around the world, and 125,000 are from employees of companies acquired during that period and integrated into the larger group. At the end of 2013, the company has about 573,000 employees, the highest number in its history.
An industrial plant near Decatur is about to undergo an expansion worth almost $100 million. BP Amoco Chemical Co. says it will invest $95 million in the factory to improve production of three chemicals used for manufacturing.
According to a news release Tuesday, Horsehead Corp.'s agreement extends the time Shell has to buy the site about 35 miles northwest of Pittsburgh and includes plans to start demolishing the zinc plantearly next year at Shell's expense.
Communist leaders are trying to steer China to slower, more sustainable growth but an unexpectedly sharp decline in 2012 and this year prompted concern about politically dangerous job losses. Beijing temporarily reversed course and shored up growth in mid-2013 with a mini-stimulus of higher spending on building railways and other public works.
The surge in orders for durable goods, which are products expected to last at least three years, was the latest evidence of a rebound in manufacturing. The gains will likely provide support for the economy into 2014. The Commerce Department said Tuesday that orders for durable goods jumped 3.5 percent last month compared with October, when they had fallen 0.7 percent.
An ethanol plant that will make the fuel from corn cobs, leaves, and husks is on track to start production early next year. The plant located in Emmetsburg is a joint venture of Sioux Falls, S.D.-based POET and Royal DSM, and a biotech company based in the Netherlands. It is designed to make 20 million gallons of cellulosic ethanol per year.
Scottsdale, Ariz.-based Nuverra Environmental Solutions Inc. says it is "launching a massive hiring blitz over the holidays" and will continue to search for qualified candidates until all positions are filled. Nuverra, together with its subsidiaries including Power Fuels, has nearly 2,700 employees in 26 states.
Consumers' income rose 0.2 percent, an improvement from a 0.1 percent decline in October. Wages and salaries, the most important component of income, rose a solid 0.4 percent. That gain reflected strength in the private sector and a modest gain in government pay.
A leading firearms company is moving into new headquarters west of Birmingham. Steyr Arms says it will be up and running in its 33,000-square-foot complex in Bessemer on Jan. 2. The company has been operating in the Birmingham suburb of Trussville.
Republican Gov. Paul LePage's administration says a mill in northern Maine is expected to add 20 new jobs early next year. LePage's office says the Louisiana Pacific Corporation plant in New Limerick hired 41 new employees last year and is hoping to continue to grow in the new year.