Articles By Industry Articles
The New Jersey Economic Development Authority (NJ EDA) has approved 41 companies to share a total of $47.4 million through the state’s Technology Business Tax Certificate Transfer (NOL) Program in FY 2016.
Organizations in Pittsburgh, Detroit, northern Michigan, St. Louis, Alaska, Wisconsin and Nevada, have embraced business idea competitions; rewarding dozens of new ventures with grants ranging from $5,000 to $50,000. The 43North competition, said to be the largest such prize pool in the nation, offers $5 million in prize money to entrepreneurs who agree to move to (or retain their start-ups in) the city.
GE’s Industrial Solutions business will invest $7.4 million in its West Burlington, IA manufacturing facility and create 120 new jobs.
Automotive components and systems producer DENSO Manufacturing Tennessee, Blount County’s largest employer, is investing $400 million in an expansion creating 500 new jobs.
Bell Inc. will open its first eastern-U.S. facility in Central Ohio and create 275 new jobs, generating $9.2 million in new annual payroll. The Sioux Falls, SD-based company will invest $30 million in a 165,000-square-foot paperboard carton manufacturing facility in the Columbus area.
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Tile and ceramics company Wonderful Group will invest $150 million and create 220 new jobs in Lebanon, TN, the largest-ever capital investment made in the state by a Chinese company.
Eli Lilly and Company will expand its global R&D headquarters in Indianapolis, IN, adding 130,000 square feet to the company’s existing complex.
Orgill, Inc. will invest $15 million to build a new 100,000-square-foot world headquarters facility in east Shelby County, TN, creating 115 new jobs.
Ohio-based GE Aviation will invest $200 million to build a pair of plants in Huntsville that will produce silicon carbide materials used to make ultra-lightweight ceramic matrix composite components for jet engines.