RED BANK, NJ — While entries for Business Facilities’ 2024 Deal of the Year Awards included corporate relocation and expansion projects across a vast array of industries, it’s clear 2024 was the year for tech companies to invest in the future with massive data center plans.
Each January, Business Facilities, a leading publication for corporate site selectors, recognizes economic development organizations for their work in securing significant corporate relocation, expansion, or retention projects. The annual Business Facilities Deal of the Year Awards focus on capital investment, jobs creation, innovation, and impact on communities.
Economic development organizations submitted entries for projects in their regions announced or taking place between September 2023 through 2024. As evaluated by the judging panel and Business Facilities editors, three of the four 2024 Deal of the Year award winning projects are data centers.
“The rapid evolution of artificial intelligence (AI) and the demand for technology capabilities overall spurred significant investment in data centers throughout 2024. Meanwhile, the pharmaceuticals industry has experienced continued growth over the past year,” said Anne Cosgrove, Business Facilities Editorial Director. “Our 2024 Deal of the Year winners represent billions of dollars in capital investment and thousands of jobs for the communities in which these companies and their suppliers will operate. We congratulate the economic development teams that worked to bring all of these projects to fruition.”
The Business Facilities 2024 Deal of the Year Award winners are:
PLATINUM
Louisiana Economic Development — Meta, Richland Parish, Louisiana, with GrowNELA and Entergy
The 2024 Platinum Deal of the Year Award recognizes Louisiana Economic Development for securing Meta’s largest AI-optimized data center in the northeast region of the state. The company plans to build the facility on a megasite in Richland Parish, representing a $10 billion investment that will create 500 direct jobs, with average salaries at least 150% of the state per capita average. In addition, the project will create 1,000 indirect jobs. State legislation reducing sales tax liability on data center equipment purchases, partnerships with educational institutions, and availability of utilities were among the factors critical in Meta choosing to locate in Louisiana.
GOLD
Mississippi Development Authority — Amazon Web Services, Madison County, Mississippi, with Madison County Economic Development Authority and Entergy
The 2024 Gold Deal of the Year Award winner is Mississippi Development Authority for attracting Amazon Web Services’ (AWS) data center investment. Locating at two sites in Madison County, Mississippi, AWS will invest $10 billion to establish data center complexes. This is the largest single investment in the state’s history and is expected to create at least 1,000 jobs. This operation positions Mississippi as a hub for cloud computing while powering the next generation of AI and machine learning. Access to power requirements, workforce, and incentives were significant to AWS’ decision to build in Mississippi.
SILVER
Economic Development Partnership of North Carolina — Novo Nordisk, Johnston County, North Carolina, with North Carolina Department of Commerce
The 2024 Silver Deal of Year Award recognizes the Economic Development Partnership of North Carolina for supporting Novo Nordisk’s expansion in the state. The global pharmaceutical firm will invest $4.1 billion to build a second fill and finishing manufacturing site in Clayton, North Carolina. The expansion will add 1.4 million square feet of production space and is expected to create 1,000 jobs at this location. Novo Nordisk established its first U.S. manufacturing site in North Carolina 31 years ago.
BRONZE
Greater Memphis Chamber — xAI, Memphis, Tennessee
The 2024 Bronze Deal of the Year Award recognizes the Greater Memphis Chamber in Tennessee for its role in attracting xAI’s Gigafactory of Compute, the world’s largest supercomputer. Founded in 2023 by Elon Musk, xAI is focused on advancing AI and accelerating human scientific discovery. The company announced a $12 billion investment, attracted to the region’s reputation as the Digital Delta. Reliable power, swift execution, and operation scalability were at the top of the list for Musk’s decision to locate the supercomputer in Memphis.
Along with Business Facilities editors, the 2024 Deal of the Year judges were John Boyd, Jr., Principal, The Boyd Company, Inc.; Linda Burns, Incentives Practice Leader, WDG Consulting; and Robin Spinks, President, Greenfield Development Company.
Transforming Communities: 2024 Impact Awards
As part of the Deal of the Year Awards, Business Facilities editors recognize projects from the pool of entries for the magazine’s 2024 Impact Awards. These awards showcase corporate relocation and expansion investments that are having, or are expected to have, a significant impact on the communities in which they are located.
Business Facilities’ 2024 Impact Awards feature 20 projects across a range of categories:
Advanced Manufacturing: TTM Technologies — AdvanceCT (Connecticut), with Connecticut Department of Economic and Community Development
Aerospace: Embraer — City of Fort Worth (Texas), with Fort Worth Economic Development Partnership; Texas Economic Development – Office of the Texas Governor; Denton County; and Hillwood
Aviation: National Championship Air Races — Roswell-Chaves County Economic Development Corp. (New Mexico), with team effort among City of Roswell; Chaves County; Eastern NM University – Roswell; Roswell Chamber of Commerce; MainStreet Roswell; and support from State of New Mexico to include the Office of the Governor; Economic Development Department; Department of Tourism; and the legislative delegation representing Chaves County
Biopharma R&D: Eli Lilly and Company — Indiana Economic Development Corp., with local governments and Biden-Harris Administration’s Tech Hubs initiative
Building Products Manufacturing: GAF — Kansas Department of Commerce, with Harvey County Economic Development; Greater Wichita Partnership; and Kansas Department of Transportation
Canada: Asahi Kasei — Regional Municipality of Niagara, Economic Development (Ontario),
with Invest in Canada; Invest Ontario; City of Port Colborne; and The BMI Group
Clean Energy Manufacturing: Corning, Inc. — Consumers Energy (Michigan),
with Michigan Economic Development Corporation and Saginaw Future Inc.
Community Impact: Google — Dorchester County Economic Development (South Carolina), with South Carolina Department of Commerce; Dorchester County, SC; Dominion Energy SC; SC Power Team; and Edisto Electric Cooperative
Corporate Headquarters: Incyte — Delaware Prosperity Partnership, with State of Delaware Office of the Governor; State of Delaware Division of Small Business; Delaware Economic Development Authority; City of Wilmington Office of the Mayor; and City of Wilmington Office of Economic Development
Data Centers (Expansion): Apple — Nevada Governor’s Office of Economic Development, with Economic Development Authority of Western Nevada (EDAWN)
Data Centers (New): Google — Missouri Partnership, with Missouri Department of Economic Development; Economic Development Corporation of Kansas City; Kansas City Area Development Council; Port KC; Evergy; and Hunt Midwest
Defense Manufacturing: Austal — Alabama Department of Commerce & Mobile Chamber
Distribution Center: Costco — Economic Development County of St. Lucie County (Florida), with City of Port St. Lucie; St. Lucie County; and Sansone Group
Foreign Direct Investment: SeAH Superalloy Technologies — Temple Economic Development Corp. (Texas), with Office of the Texas Governor, Texas Economic Development & Tourism
MedTech: Gifthealth — JobsOhio, with Ohio Department of Development; One Columbus; and City of Columbus
Megasite: Natron Energy — Carolinas Gateway Partnership (North Carolina), with North Carolina Department of Commerce; Economic Development Partnership of NC; North Carolina General Assembly; North Carolina Community College System; North Carolina Department of Transportation; North Carolina Department of Environmental Quality; North Carolina Department of Commerce’s Division of Workforce Solutions; North Carolina Railroad; Edgecombe County; Edgecombe Community College; CSX; Dominion Energy; and Piedmont Natural Gas
Pharmaceuticals: GSK — Pennsylvania Department of Community and Economic Development, with EDC Lancaster County
STEM: Topsoe — Greater Richmond Partnership (Virginia), with Virginia Economic Development Partnership and Chesterfield Economic Development
Timber & Forestry: Weyerhauser Company — Arkansas Economic Development Commission, with Monticello Economic Development Commission; C&L Electric Cooperative; Southeast Arkansas Regional Intermodal Authority; City of Monticello; City of Warren; Bradley County; and Drew County
Vehicle Manufacturing: Micro Bird — Empire State Development (New York), with Clinton County Industrial Development Agency; North Country Chamber of Commerce; North Country Regional Economic Development Council; and Plattsburgh, NY
Full coverage of the 2024 Deal of the Year and 2024 Impact Awards will be featured in the January/February 2025 issue of Business Facilities.
Business Facilities is a national publication that has been the leading location source for corporate site selectors and economic development professionals for more than 50 years.
