HomeFrom the MayorTeam Tennessee Times – May 7, 2018

Team Tennessee Times – May 7, 2018

Wall Street Firm AllianceBernstein LP Moving HQs and 1,050 Jobs to Nashville

It was a busy week for Gov. Bill Haslam and TNECD Commissioner Bob Rolfe. All told, Haslam and Rolfe announced nearly 1,500 new jobs and more than $90 millionin private capital investment across Middle and West Tennessee.

Headlining it all: AllianceBernstein, a major Wall Street money manager, unveiled plans to move its corporate headquarters to Nashville from New York. AB will invest more than $70 million and bring 1,050 corporate office jobs to Music City.

“Nashville emerged as the clear winner by every metric we analyzed,” Seth Bernstein, AB’s president and CEO, said. “No other city could compete.” More hereon AB’s headquarters move to Nashville.

Haslam, Rolfe Head to Europe for Recruitment Trip

Gov. Haslam and Commissioner Rolfe will be in Europe from May 4 to May 11 for an economic development trip designed to strengthen ties with European businesses and increase foreign direct investment (FDI) in Tennessee. The trip will include stops in the United Kingdom, Sweden, Germany, Austria and Italy. Since 2011, European businesses have pledged to invest $4.1 billion in Tennessee and committed to create more than 20,000 jobs.

Lake County Lands First New Industrial Project in Recent Memory, Nearly 200 Jobs

On Monday, Gov. Haslam stopped in Lake County. Hundreds of residents gathered at Lara Kendall Elementary School in Ridgely to celebrate the county’s largest economic development project in recent memory.

Excel Boat Company, LLC announced it would invest $9 million to build a 100,000-square-foot manufacturing facility in Ridgely. A manufacturer of a full-line of premier recreational boats, Excel Boats plans to create nearly 200 jobs over the next five years. Excel Boats’ investment in Lake County, a Tier-4 county, will be a major shot in arm for Ridgely.

Meet Weakley County’s First FDI Project

More history was made on Tuesday, when Dong-A Hwa Sung Co. LTD announced it would build its first U.S. facility in Martin and Weakley County. Dong-A will invest $13 million to build a new plant that will eventually employ 220 people. The South Korean manufacturer plans to supply LG Electronics’ Clarksville plant and other home appliance and automotive makers in the U.S. Here’s more.

Monogram Doubles Down on Selmer Plant

On Wednesday, Gov. Haslam and Commissioner Rolfe traveled to Selmer, where Monogram Refrigeration celebrated the start of production of a new line of air conditioning units and new refrigeration products. Monogram, a leading U.S. manufacturer of household appliances, has operated in McNairy County since 1986 and is among the county’s largest employers.

Last year, Monogram, a subsidiary of GE Appliances, a Haier company, said it would invest $9.3 million to expand its Selmer facility, add two new production lines and create 210 jobs. The expansion will double Monogram’s headcount at its Selmer plant.

Italian Ceramics Supplier Establishing Plant in Mount Pleasant

Smalticeram USA, Inc. officials announced on Friday that the company will locate new operations in Mount Pleasant. The ceramic and tile ink, glaze and pigment producer and distributor will invest $4 million and create 26 new jobs in Maury County. Here’s more.



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