Texas FDI Investments Grow At SelectUSA Investment Summit

Aerospace firm Acutronic expands in Austin and Bastrop, and chemicals manufacturer Aditya Birla Group is building in Beaumont. And, Business Facilities presented Texas its State of the Year Award.

After five years of operations in Central Texas, the Acutronic Group announced at the 2024 SelectUSA Investment Summit it will substantially increase its presence in the region. Headlining the expansion is Acutronic’s plan to build a nearly 14-acre state-of-the-art aerospace manufacturing facility in Bastrop, TX and establish the City of Austin as the global headquarters for its Aerospace Components Division.

Acutronic has acquired 13.84 acres of land in the City of Bastrop, where it will build the only jet engine manufacturing facility in Texas and one of the only micro-turbine manufacturing plants in the U.S. The facility will generate at least 50 new high-skill and high-wage jobs. Acutronic will invest upwards of $4 million on its construction.

Acutronic’s newly renovated Aerospace Components Division headquarters in the City of Austin will host close to 100 employees. The headquarters, will house engineering teams, corporate staff, turbine test cells, and assembly space. It will also be the site of development for Acutronic’s actuator, turbine, and power systems product lines.

Texas
Acutronic Group announced its Texas expansion at the SelectUSA Investment Summit in National Harbor, MD. (Photo: Kyle Peschler)

“This investment is a natural progression for us,” said Florian Aigrain, CEO of Acutronic. “Under the leadership of General Manager Cody Fogwell, we will continue to benefit from the world-class talent pool and collaborative business environment of Central Texas. Expanding our footprint in the region will augment Austin’s advanced manufacturing and aerospace leadership through the design and production of cutting-edge products in support of the nation’s most important defense programs.”

Apprentice Apprenticeship Alliance

Acutronic’s new Bastrop manufacturing facility will bring employment opportunities and career pathways to local students. In collaboration with the Bastrop Independent School District’s Manufacturing P-Tech program, Acutronic is launching the Acutronic Apprenticeship Alliance, a workforce development program that will offer hands-on vocational training and mentorship in manufacturing. This program will help the region keep pace with Central Texas’ manufacturing job growth, which has increased 27% over the last 10 years.

“Acutronic’s investment has a wide-reaching impact throughout Central Texas including Bastrop and Austin and beyond, setting up this region to be a competitive aerospace and defense hub,” said Ed Latson, CEO of Opportunity Austin, the region’s economic development organization. “And just as important is their commitment to a workforce development program for Bastrop ISD students creating a career pathway to good paying jobs. Multi-faceted investments of this nature are force multipliers for our industries and economy.”

Beaumont, TX Attracts Aditya Birla Group

Also announced at the SelectUSA Investment Summit last week, Aditya Birla Group announced its plans to invest approximately $50 million to build a manufacturing and R&D center in Beaumont, TX. The company’s new 35-acre facility will involve a state of the art advanced materials site that will develop and manufacture customized specialty products and epoxy solutions. Located on the U.S. Gulf Coast near major energy and materials providers, the site will be the company’s first manufacturing and R&D facility for its chemicals business in the U.S.

The investment is expected to create at least 32 new full-time jobs and is currently estimated to be completed in early 2027, according to a Jefferson County tax abatement.

Aditya Birla Group has invested more than $15 billion in American businesses, becoming the largest Indian investor in the United States.

Business Facilities State Of The Year Award Presented

Earlier this year, Business Facilities recognized Texas as its 2023 State of the Year. At the SelectUSA Investment Summit, the editorial team took the opportunity to present the award to Adriana Cruz, Executive Director, Texas Economic Development & Tourism and Dale Robertson, Vice President of Business Development, Texas Economic Development Corporation.

Texas
Team Texas at SelectUSA Investment Summit on June 26, 2024. (Photo: Business Facilities)

Accepting the award from Anne Cosgrove, Business Facilities Editorial Director, Cruz said: “Thank you to Business Facilities for this incredible honor with the 2023 State of the Year Award. We are here at the SelectUSA Investment Summit talking about foreign direct investment in the U.S., and Texas ranks #1 in the country for FDI projects over the past 20 years. We could not win awards like this without our community partners and without our partners at Texas Economic Development Corporation. Economic development is truly a team sport in Texas.”

Read the story on Texas and its State of the Year recognition here.

Check out all the latest news related to Texas economic development, corporate relocation, corporate expansion and site selection.

LEAVE A REPLY

Please enter your comment!
Please enter your name here