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SUMMER 2026

CONTENTS

DEPARTMENTS FEATURES Evolution of Economic 62 The Development Law

Gone are the cowboy days of economic development. Law firms are hiring seasoned and certified economic development recruiters to direct their own "big buffalo hunts," and here are some of the best. . .

Riches & Pitchforks 2026 68 Wages, Wages are falling, but wealth is surging

Economic Development 79 Southern Hall of Fame

The fifth installment of SB&D’s look at those who have taken the South to incredible heights over the last 70 years

26 SouthBound The editor’s column 32 Snapshots Photos from the SEDC conference and photos from years past

the South 38 Around Top stories from the last quarter

relative to business and economic development

& Expansions 44 Relocations All of the significant new starts,

expansions and relocations announced in the South in the last quarter

Auto Corridor 57 Southern News from the South’s auto industry Deals 96 Top The ten largest employment and ten largest investment deals announced in the last quarter

www.aidt.edu

SOUTHBOUND By Michael Randle, EDITOR

To infinity and beyond! Aerospace, ships and chips are flying Our cover story in this last issue takes a long look at today’s economy in a lot of ways. In fact, I don’t think I left out anything in that report, including the kitchen sink. The read is all over the place, as different classes are experiencing vastly different lifestyles in the last two years. For example, in June, SEDR resident economist Mark Vitner wrote this in one of his weekly reports: “S&P 500 net profit margins are at a record 13.4 percent. Credit card delinquency rates just hit 13.1 percent, the highest since 2011. The two figures nearly match, and they describe two different economies. One side compounds profits and capital spending; the other is running out of room on its credit cards.” Then again, while the national economy and the South’s economy are all over the board, it seems fitting that the first half project report of large economic development projects announced from January 1, 2026, to June 30, 2026, is about as wacky as it gets, too. But, wacky good! At least in Texas. I mean, can you believe that the first half of this year saw one of the best first halves — if not the best — in project history in the region in 34 years? And that’s after the worst first half in SB&D 100 history in 2025? I even counted the deals three times for the first two quarters and actually made a revision up from 378 projects to 394 deals announced in the region the first two quarters of this year. In comparison, 1997 saw 361 projects announced in the first half and 2015 saw 355. So, these 394 deals, again, represent one of the best two quarters ever. The best-ever years were 2014 to 2017, with 730 deals announced in 2015 meeting or exceeding our thresholds of 200 jobs and/or $30 million in investment. The 394 projects announced in the first half of this year have a chance to beat the all-time record of 730, which could make 2026 the only year breaking the 700 mark in 34 years. There

were 695 announced the next best year — 2016. In fact, from 2014 to 2017, the average SB&D 100 for those four years was 693.5 big buffaloes. Only a four-year stretch from 1995 to 1998 can be compared, as those years averaged 583.5 announcements annually. With 394 deals announced in the first half of this year, we are currently in some rare air. To make that even clearer, again, the first half of 2025 was the worst in 34 years of counting this stuff. There were only 119 deals announced in the first two quarters of 2025. So, in one year, we have seen an addition of 275 big job- and investment-generating projects in the first half of 2026. Last year ended with a respectable, but uninspiring, 494 deal total of “big buffalo,” which means there was a large run the second half of 2025 from the 119 in the first two quarters of 2025. That run has extended through the first two quarters of 2026. So, for three quarters now, the deals have been flying in the American South. Yet, the figures are somewhat skewed This fact should certainly be noted and not overlooked. Just about every state in the South is up slightly — a few significantly — in average deals announced in Q1 and Q2. That is compared to historical data going back 34 years. And way up compared to last year. Texas, on the other hand, is tearing it up and on a deal roll that I have never seen in four decades (except in 1997). So, I just finished the state-by-state totals. Of the 396 projects announced in the first half of 2026 in the South, 146 were announced in Texas. The second-best state capturing big deals in Q1 and Q2 is North Carolina with 30. That means in the first half of this year, the other 12 Southern states and D.C. captured 248 big projects. That is an average of

Southern Business & Development (ISSN 1067-8751) is a registered trademark TM. Founded in 1992 and published quarterly by MCR Publishing, Inc. Affiliated Websites include www.SouthernBusiness.com and www.SB-D.com. Office address: 8086 Westchester Place, Montgomery, AL 36117. To subscribe, email stacy@ sb-d.com. Annual subscription: $25. Single edition delivery by three-day mail: $10. Information contained in SB&D and on its websites is gathered from reliable sources, however, the accuracy of this information is not guaranteed. All rights reserved. Permission must be granted by SB&D for reprint rights, in whole or in part. Copyright 1992-2026. Southern Business & Development TM 1997. Southern Auto Corridor and Southern Automotive Corridor TM 2003.

26 SB&D SUMMER 2026

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SOUTHBOUND

SpaceX and Tesla are dominating the economic development news beat and are the frontrunners behind Texas’ massive first half of 2026.

about 21 projects per state meeting or exceeding our thresholds of 200 jobs and/or $30 million in investment. And Texas had 146? Really? It is not the first time Texas has run away with big deals announced in the South. The aforementioned late 1990s saw a similar run by the Lone Star State. In 1997, Texas’ total beat all states combined. Looks like that is probably not going to happen this year, but we still have two quarters to go. This economy may be terrible right now for two classes, but it is about to improve if data has a say. And it always does. At least in one state: Texas. But all Southern states are seeing projects. Texas stands tall What is happening in Texas is mind-boggling. Austin and DFW rule the world in economic development like no two metros I have seen in my 44 years in journalism. We might as well give them the 2026 “State of the Year” award halfway through the race. Elon Musk is a deal-making machine. A.I. has taken over this economy. It’s a damn revolution in evolution! And it is not just Tesla and SpaceX. Or Blue Origin. It is chips, as in Samsung and NVIDIA in Texas. A.I. and chip suppliers are everywhere, but mostly in Texas. Other industries standing out include metals, electronics, pharmaceuticals, rare earth minerals, shipbuilding, biotech and, of course, aerospace, which has had banner years for the last two years. The two largest job-generating industries over the last 34 years; how are they doing? Well, they are making a comeback, too — 2025 was a total bust for automotive and financial services, but they have perked up. They are not yet to average deal levels over four decades, but it is nice to see automotive making a decent run so far this year. And, I always worry when financials are slow to hire. It’s also a run of huge headquarter projects in Dallas-Fort Worth and Houston, as well as Charlotte and Northern Vir28 SB&D SUMMER 2026

ginia so far this year. Nashville is down and so is Atlanta. Yet, for the most part, mega-markets are turning the deals. Here is the breakdown in the first two quarters of 2026 for each state. State Totals of “Big Buffalo” Q1-Q2, 2026

State

Projects

Alabama Arkansas Florida Georgia Kentucky Louisiana Mississippi North Carolina Oklahoma South Carolina Tennessee Texas Virginia Total

23 14 28 26 17 23 16 30 11 23 16 146 21

394

Source: SB&D, other media sources, Southern state economic development agencies

A few items in conclusion So, it will be interesting and certainly foretelling as to whether A.I. is the real thing, as it seems. We have had almost two years of data centers and A.I. owning the South’s economy. Data centers led all industries in SB&D 100 deals in 2025 for the first time ever. Looks like they will do it again this year. Texas may be the canary in the coal mine of this economy. Surely this data center/A.I. run cannot be sustained. At some point, it will slow, as does every new thing, such as the internet

When you have it all, business can thrive. Clarendon County, SC is adept and equipped to meet your company’s needs.

SUMMER 2026 SB&D 29

SOUTHBOUND

(1996-2000), the EV run (2021-2024), and the housing crisis (2007-2009). Goodbye print! How all of these 44 years in print started This is our last regularly scheduled print issue going back to the early 1980s. We may publish an annual or a semi-annual piece in the future, but it is not in the cards for now. We are looking forward to launching SouthernBusiness.com this fall. We are trading monthly and quarterly deadlines for daily, even hourly, posts on the new site. I played baseball for the University of Tampa from 1974 to 1977. I then played in some low pro and semi-pro leagues down there, including the famous Tampa Smokers and Tampa Nuggets, all sponsored richly by Tampa-based Hav-a-Tampa cigar company. But, I got homesick after playing baseball and going to school in Florida for 10 years. It was time to go back to Birmingham. With my packed U-Haul rig behind my International Scout, I moved back home in 1983. Before making the 10-hour trek to Birmingham, I stopped at a Waffle House in Sarasota to eat breakfast. There on a cigarette machine as I was buying some Parliament lung darts, I saw the South Florida Business Journal. I told myself right then, “Well dang, I can do that.” I was an English

30 SB&D SUMMER 2026

and Journalism major at Tampa U and interned at the Tampa Tribune for a couple of years since it was right across the street from the school, and then worked for them for a short period of time. I founded the Birmingham Business Journal not long after arriving home in 1983. Sold it and started Southern Business & Development in 1993. So, that is how all of this started. . .on top of a cigarette machine. Conclusion As you now know, this is Southern Business & Development’s last regularly scheduled edition. We have been working on “Turning the Page” since we purchased the domain SouthernBusiness.com in 2024. We do love print. But changing deadlines from quarterly and monthly to daily, even hourly, was too enticing to not carry out full-time. Plus, no one under 40 seems to read print anymore. You are going to love the new SouthernBusiness.com. We hope to have it launched not too much longer after you finish reading this last issue. Thank you for your support for all these years. We really do appreciate our sponsors and our readers. If it wasn’t for you, these 44 years would not have existed. Thank you! J

Standing Together Connie Bainbridge of Central Alabama Electric Cooperative and Jim Byard of Byard Associates know a thing or two about working together to support economic and community development to improve quality of life and promote vibrant, economically stable communities across Alabama. Together they congratulate Michael Randle and Southern Business & Development on 44 years of promoting the South. Mike Randle has “beenForonedecades, of the South’s most

“

Some people write stories. Others become part of the story. Thank you for your time spent informing, inspiring, and documenting the history of the South in real time!” - Connie Bainbridge

trusted voices on economic development. Southern Business & Development has become essential reading because it has always valued facts over hype and substance over spin.” -Jim Byard, Jr.

SUMMER 2026 SB&D 31

Snapshots FROM SEDC

1: SEDC members flocked to Bonita Springs, Fla., for the annual conference 2: Alex Kelly (Florida Department of Commerce). 3: Current SEDC President Matt Tackett (left) 4: The “$101 Billion Panel” at SEDC@BonitaSprings 2026. Pictured are (l-r) Gray Swoope (VisionFirst); Alex Kelly (FloridaCommerce); Clint O’Neal, (Arkansas Economic Development Commission); Bill Cork (Mississippi Development Authority); Jason El Koubi (Virginia Economic Development Partnership) and Harry Lightsey (South Carolina Department of Commerce). 5: Tim Weston (Brasfield & Gorrie), Chairman of SEDC in Bonita Springs 6: Denise and Michael Mullis moderate a panel with Jeff Noel, John Budd, Subash Alias and Chris Chung 7: Keith Norden, President & CEO, Team Volusia, Fla. EDC, receiving the Honorary Lifetime Member by SEDC 8: Kevin Johnson, Pat Wilson and Michael Randle 9: Chuck Sexton and Raul Peralta

3 155 6

9 7 32 SB&D SUMMER 2026

10: Dr. Pete Fullerton, Chuck Whipple, Joyce French, Robert Leak and Gene Stinson 11: Joe Hines is the new Chairman of SEDC 12: Secretaries Jeff Noel (Kentucky), Pat Wilson (Georgia) and Chris Chung (North Carolina) 13: The SEDC group 14: Joe Max Higgins 15: Don Pierson and Chris Masingill 16: Ted Abernathy 17: Mandi Mitchell (Lafayette, La. EDC) and Don Pierson (Pierson Delamain & Associates, former Secretary Louisiana Economic Development) 18: Kevin Johnson, Gene Stinson 19: James Chavez (far left) leads a panel on data centers 20: People that helped build SEDC over the decades — Dr. Pete Fullerton, Chuck Whipple, Joyce French, Robert Leak and Gene Stinson

14 15 18 19

20 SUMMER 2026 SB&D 33

S napshots F R O M T H E PA S T

34 SB&D SUMMER 2026

1 5 4

1: Bob Leak, Jr.; Martha and Bob Leak, Sr. 2: Greg Canfield and Mitch Mays 3: Mark Herbison, John Bradley and Mark Williams 4: Victor Hoskins and Stephen Moret 5: Glenn McCullough, Kyle Spurgeon, Glen Fenter 6: Ellen McNair and Randy George 7: James Carvill and Jay Garner 8: Michael Randle and Gov. Kathleen Blanco 9: Lynn and Judy Pitts

9 7 8

11 11

10: The first Southern Economic Development Roundtable in 2014 11: James and Stevie Chavez 12: Gray Swoope and Brenda Lathan 13: Mac Holladay 14: Ed Castile and Neal Wade 15: Jim and Kathy Newsome at SEDR 16: Lisa Payne photo bombs Michael Randle with Kim Huston and Deanna Karem 17: Jim Newsome, Shelly Jacobs and Ed Randle 18: Glen Fenter, Mike Mullis, Morgan Holladay, Chuck Whipple and Gray Swoope

12 14 15 16

17 18

SUMMER 2026 SB&D 35

S napshots F R O M T H E PA S T 19: Chris Masingill, Gray Swoope, David Rumbarger and Randy George 20: Michael Olivier, Michael Randle, Don Pierson and Henry Florsheim 21: James McClain and Mark Heath 22: Victor Hoskins, Stephen Moret and Jason El Koubi 23: Peggy McLean, Heidi Smith and Gene Stinson 24: George Swift 25: Deepal Eliatamby, Michael Randle and Jeff McKay 26: Connie Bainbridge 27: Matt Kisber 28: Walt Sprouse, Michael Randle and Will Williams

16 24 19

26 25 18

36 SB&D SUMMER 2026

27 28

29: Mark Vitner, Mandi Mitchell, Raul Peralta, Mallory Darby and Chuck Whipple 30: Cliff Brumfield 31: Nancy Windham and Michael Olivier 32: Glen Fenter and Clif Chitwood 33: George Kosinski 34: Chris Berryman 35: Michael Eidson and Verdell Hawkins 36: Jody Bryson 37: Dennis Cuneo and Wayne Sterling 38: Jay Schwedler and Deepal Eliatamby 39: Connie Bainbridge, Scott McLain, Justice Smyth and Yolanda McLain. J

31 32

33 34

35 36

38 37

39 SUMMER 2026 SB&D 37

Around SOUTH

THE

Largest global investments made in a decade

According to financial technology company Dealogic, in Q1 and Q2, there were approximately $3.2 trillion in global projects, a 45-percent jump from Q1 and Q2 2025. We have written about the struggles in deal generation in the first half of 2025, as only 119 projects meeting or exceeding SB&D’s thresholds of 200 jobs and/or $30 million in investment were announced in the South. That was a 34-year low. But the first half of 2026, the South captured 394 deals, the best six-month stretch in 34 years (see “Southbound” in this issue). The massive global investments included 44 projects announced 38 SB&D SUMMER 2026

that were larger than $10 billion. Many experts have described the first half of this year as “a window of transformation” and a “once-in-a-generation opportunity” to create a transformational economy. In an article published by Business Standard, Matt McClure, a global co-head of investment banking at Goldman Sachs, said, “Now is really the time to try and do it,” as in “going for it,” especially in the A.I. sector. Bankers like McClure insist this expansion is different from previous booms such as the dot-com era of the late 1990s and the EV expansion from 2021 to 2024.

There are at least 248 planned and pipeline data center projects being built or proposed across Texas From the experts: Quotes about A.I. and its effect on the economy in the summer quarter of 2026 Artificial intelligence is the latest new thing. Going back 125 years, here are some “latest new things” included among other notable events: l The “Industrial Revolution” l The invention of the automobile l The advent of electricity nationwide l The invention of the telephone, radio and television l Post WWII economic boom l The internet age of late 1990s to early 2000s l Globalization l Artificial intelligence So, welcome to the “newest thing.” Here are some quotes from The New York Times and other media properties as we advance in this new A.I. world: “I don’t think A.I. has hit the labor market yet, and I don’t think it’s radically changed corporate productivity yet, either, but I think it is coming.” – Daniel Rock, Economist, University of Pennsylvania “There’s enough conversation around this that we certainly should, as a country, be talking about what sorts of policies make sense in a world where the way that employment and careers work now changes a lot in the next two to five years.” – Robert Seamans, Economist, New York University “It was just a paradigm shift for me. And then I started thinking, ‘This is potentially an industrial revolution-scale event, if not more.’ ” – Alex Imas, Economist, University of Chicago “I really don’t know anything a college student can bring to my team that Claude can’t do.” (One of the many A.I. platforms.) “If you can do your job locked in a closet with a computer, ultimately you’re going to be in trouble.” – Molly Kinder, Senior Fellow, the Brookings Institution “A.I. could eliminate 50 percent of entry-level white-collar jobs within years.” –Dario Amodei, Anthropic “You’re going to have a technological shock — how painful is it going to be?” – Martha Gimbel, Director, Yale University Budget Lab "A.I. technology will render work 'optional.' ” – Elon Musk, CEO, SpaceX, Tesla “Over the next two to three years, 50 to 55 percent of jobs in the U.S. will be reshaped by A.I. For many employees, this will mean that they retain the same or a similar role but face radically new expectations for how they work and what they produce.” – The Boston Consulting Group “In the past, our social safety net was designed to help people over transitory shocks. This one might actually be a more permanent shock.” – Anton Korinek, Economist, University of Virginia “The Industrial Revolution took a century to reorder work. Electricity took a generation. The internet took a decade. A.I. may not even take a full business cycle.” – Mark Vitner, CEO and Chief Economist at Piedmont Crescent Capital

NATIONAL Who is in the labor force? The labor force participation rate measures the working age population of those employed and those looking for a job. That rate fell to 61.5 percent in June, the lowest since during the COVID years, according to the Bureau of Labor Statistics. The lowest on record was in 2020 when it sank to 60.1 percent. But if you take away the years when just about everyone had to work from home during the pandemic, June’s participation rate is the lowest since June 1976. According to BLS, in June alone, the labor force dropped — rather plummeted — by 720,000 workers. Including the unemployed, that figure totaled 832,000 people. Drops in participation can also be attributed to nearly zero immigration into the country, and retiring baby boomers. Troubling though, the largest drop in workforce participation came from those aged 25 to 54 — prime working years — according to the BLS. It is not as if the job generation numbers are lighting up the board; they are not with just 57,000 jobs gained in June. And those 57,000 jobs in June and the 150,000 or so gained in May are still better job generating months than in most of 2025. Again, the BLS reported that a whopping 720,000 people in the U.S. stopped looking for work in June 2026. CONTINUED

SUMMER 2026 SB&D 39

Around SOUTH

THE

The list: 1. Wichita, Kan. 2. Ogden, Utah 3. Dayton, Ohio 4. Salt Lake City, Utah 5. Huntsville, Ala. 6. Palm Bay-MelbourneTitusville, Fla. 7. Grand Rapids, Mich. 8. Phoenix, Ariz. 9. Dallas-Fort Worth, Texas 10. Indianapolis, Ind. Source: Global Location Strategies

The Clarksville-Montgomery County (Tenn.) Industrial Development Board (IDB) has included childcare centers in its industrial parks with up to 800 childcare slots. The new structures will service both the industrial park workforce and local families, according to the IDB. The facility provides extended care, school transportation and a swimming pool. At 61.5 percent, the labor force participation rate falls to lowest in 50 years (sans COVID years) We all know many of the barriers to workforce participation. Taking care of family members, lack of transportation, suffering from mental illness or addiction. . .there are many reasons why people who can work don’t, and the people who can’t work, well, those are the truly disabled. One thing that economic officials and politicos can do is develop new avenues for child care. Many states have implemented child care programs. Even developers of industrial parks and office parks sell child care centers as perks, as do corporations. Then again, there is not much anyone can do when folks stop looking for a job. That is market-based. The only answer is to create more jobs. And that is not happening today in comparison to say during Obama, Trump 1 and Biden’s terms. 40 SB&D SUMMER 2026

Foreign direct investment “boom” is just doing okay During 2025, before and after “Liberation Day” (April 2, 2025) which implemented tariffs not seen in 100 years in this country, President Trump boasted of a foreign direct investment surge. With the steep tariffs on imports, he argued that foreign companies would be forced to site factories in the U.S. to avoid the tariffs. President Trump boasted that foreign investment would be in the trillions; $17 trillion in September 2025, and $18 trillion in December, or almost two-thirds of U.S. GDP. These new investments, he pointed out, would be coming from Europe, the Persian Gulf and Asia. Nothing could be further from the truth. In fact, China has all but stopped investment in the U.S. after setting an all-time record for investments in 2015. In 2025, according to the Bureau of

Economic Analysis, the U.S. captured $232 billion in foreign investments; far from $1 trillion or, needless to say, $17 or $18 trillion (with a “T”). Over the last five years, annual foreign direct investment has settled from its 2021 high of over $300 billion to anywhere between $218 billion in 2022 to $155 billion in 2024 to $232 billion in 2025. The best two years in foreign direct investment in the U.S. over the past 10 years were in 2015 and 2016, both with over $400 billion in FDI. Those also remain the best two years in SB&D 100 history with 730 big buffalo deals in 2015 and 695 in 2016. Top 10 regions for aerospace and defense manufacturing investments in the U.S. In July, site consultant Didi Caldwell and her company Global Location Strategies published the “2026 Best Places for Aerospace & Defense Insights Report.”

REGIONAL First half of 2026 shows an astounding 394 projects announced in the South meeting or exceeding the SB&D 100 thresholds Now we are talking! After a dismal first half of 2025 with just 119 projects announced, the first half of 2026 saw 394 projects announced meeting or exceeding 200 jobs and/or $30 million in investment in the 13-state American South. The thresholds have been the rule of our SB&D 100 ranking since 1993. This pace, if duplicated over the next two quarters, would be a record of 788 large economic deals announced in the region. Years 2015, 2016 and 2017 are at the top of the heap with 730, 695 and 680 deals announced respectively during those years. The two years of 2014 (668) and 1997 (636) weren’t bad, either. Of course, that is a mathematical speculation. Matching these numbers of the first two quarters has not been done since 1993, according to Southern Business & Development data. We will say this, Texas is simply lighting it up with projects. I have never seen

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a better quarter from a state in project announcements in any month (June) or quarter (Q2) than so far this year. -Michael Randle NVIDIA and Corning announce huge deals in North Carolina and Texas Corning and NVIDIA revealed plans to build three new manufacturing plants in North Carolina and Texas with the creation of more than 3,000 new jobs in the two states. The plants will produce advanced optical connectivity solutions needed to power next-generation A.I. infrastructure. Corning will expand optical connectivity manufacturing by 10 times, and fiber production capacity by 50 percent, due almost exclusively to A.I. factory build-outs. Corning’s increased capacity will supply NVIDIA's hyper scale data centers. Jensen Huan, founder of NVIDIA, said, “A.I. is driving the largest infrastructure build-out of our time and once-in-a-generation opportunity to reinvigorate American manufacturing and supply chains.” Wendell P. Weeks, CEO of Corning, said, “What NVIDIA is doing is nothing short of extraordinary, not just for the future of artificial intelligence, but for the American advanced manufacturing workforce. The partnership is proof that A.I. is not just a technology story. It is a manufacturing story and it is happening here in the United States. Florida-based NextEra Energy acquiring

South Carolina has recently become the fastest growing state in the nation by percentage growth. Pictured is the state capital Columbia. Virginia’s Dominion to form super energy giant As demand for power soars due to the A.I. data center build-out, the energy landscape is reforming. Jupiter, Fla.-based NextEra Energy announced plans to acquire Dominion Energy in an allstock deal. NextEra is one of the nation’s largest utilities. John Ketchum, CEO of NextEra, said recently that with electricity demand expected to rise by more than 20 percent in the U.S. by 2035, that we are in “America’s golden age of power demand.” If approved by the FERC, which determines how grid-operator mergers will affect competition and rates, the two companies would become the world’s largest regulated electric utility business by market capitalization. NextEra’s press release noted that the companies would maintain dual headquarters in Jupiter, Fla., and Richmond, Va., and its operational headquarters in South Carolina.

Duke Energy announces 2.7 GW of new energy service agreements in data centers Duke Energy CEO Harry Sideris announced in the late spring that “nearly twothirds” of those 7.6 GW in data center agreements of Q1 2026 are already under construction. He also said, “We recognize that we’re in a once-in-a-generation build cycle.” For the first time in history, data centers led all industry sectors in the South in large projects announced in 2025, and that number has increased in 2026 to date. For decades, the automotive industry has led large industry announcements in the South. Duke Energy operates across North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Carolinas are experiencing a major migration population boom North Carolina and South Carolina are seeing a wave of migration from other U.S.

states, specifically New York and California as some there chose the Carolinas over ever-popular Texas. This growth includes families, individuals and retirees alike as baby boomers are now aging out of the workforce in record numbers. A report by Oxford Economics in the spring quarter showed that North Carolina saw the highest net domestic migration of any state in 2023. South Carolina has recently become the fastest growing state in the nation by percentage growth. Charlotte and Raleigh remain big draws, but Greenville, S.C., and Myrtle Beach have captured nearly 100,000 new residents each over the last few years. Housing costs remain one of the factors in moves from the Northeast and the West to the Carolinas since 2023. Pratt & Whitney to invest more than $100 million in Arkansas, Florida and Texas Pratt & Whitney, an RTX subsidiary, is investing in SUMMER 2026 SB&D 41

its 75th year of continuous operations right outside of Atlanta. The plane manufacturer announced an expansion of 1,200 jobs at the massive, 8-million-squarefoot plant. There, Lockheed produces the C-130J and the F-35 Lightning II. Since 2019, the company has increased its workforce there by 25 percent.

Lockheed Martin celebrated 75 years of building planes in Marietta, Ga. Pictured is the F35 II fighter jet line. its MRO facilities in Irving, Texas; West Palm Beach, Fla.; and Springdale, Ark. In addition to these investments in MRO, Pratt & Whitney invested $70 million in its engine center in Columbus, Ga., in the spring quarter. DISTRICT OF COLUMBIA D.C.-area firms capture $3.8 billion in venture capital in the last year Artificial intelligence venture capital is flooding D.C., as local firms have seen $3.8 billion in funding over the past 12 months ending in June. The investments are bolstering the D.C. regional economy, which includes the mega-market of Northern Virginia. As a result of federal government cuts over the last 18 months, the investments from the A.I. boom are a welcome addition to the D.C. area, which has struggled of late. FLORIDA Tampa Bay Rays get approval for new 42 SB&D SUMMER 2026

stadium In August, the Hillsborough County Commission voted 5-2 in favor of the new Tampa Bay Rays domed stadium which will be located near the New York Yankees spring training site and the Tampa Bay Bucs stadium on Dale Mabry Highway in Tampa. The agreement paves the way for construction to begin in time for it to be ready for the 2029 baseball season. Later in the month, the Tampa Bay Rays released initial renderings of the stadium and a mixed-use district at Hillsborough College’s Dale Mabry campus. The project will exceed a $2 billion investment and create around 12,000 jobs and thousands of construction jobs. Radiopharmaceutical hub announced in Tampa Bay A coalition led by Speros and Moffitt Cancer Center announced recently its plans to build a “regional ecosystem” around radiopharma-

ceutical therapies, which include cancer drugs that combine radioactive isotopes with other treatments that attack tumors at the cellular level. The partnership, called the Florida Oncology and Radiopharmaceutical Growth Engine (FORGE), includes Embarc Collective, the University of South Florida and Pasco-Hernando State College. While additional funding for the project is required, the media property Tampa Bay Business & Wealth wrote, “Organizers project the effort could create roughly 4,000 jobs and generate $2.6 billion in economic impact across Florida over the next decade.” GEORGIA Lockheed Martin celebrates 75 years in Marietta, Ga., announces 1,200 new jobs In the summer quarter, Lockheed Martin and its 5,600 employees celebrated

Hartsfield-Jackson once again named the world’s busiest airport The massive hub airport in Georgia’s capital city, which really put the South on the international economic map in the 1960s, was once again the world’s busiest airport for passenger traffic in 2025. According to the Airport Council International, Atlanta Hartsfield handled 106.3 million passengers in 2025. That kept it well ahead of the second and third place finishers, Dubai International Airport and Tokyo Haneda. O’Hare International in Chicago was the No. 1 airport worldwide for aircraft movements, or total number of takeoffs and landings. TENNESSEE Memphis region residents complain about Musk’s A.I. data centers SpaceXAI sites “Colossus” and “Colossus II” are located near the Memphis International Airport in an older industrial area. The noise and emissions from the two data centers that are at the center of Musk’s A.I. ambitions are the source of complaints in both Mississippi and Tennessee, as they are located near the state lines. Opponents of data cen-

ters are using the problems residents in Memphis and Northern Mississippi are having with the two data centers as a rallying cry to impose moratoriums, or at least a time-out until these gas-burning turbine centers are fully understood. In July, New York placed a one-year moratorium on new data centers, as have many counties throughout the nation and in the South. Also in July, New Jersey Gov. Mikie Sherrill passed legislation that promises to make data center operators pay a “fair share” of electricity as opposed to shifting that cost to businesses and residents. Thing is, Musk’s powerful centers in Memphis are incredibly profitable. Anthropic, Google and Reflection AI are paying to rent excess computing capacity at the Memphis centers at the rate of over $2 billion per month, according to CNBC. In the CNBC article, a resident of nearby Southaven, Miss., said the data center’s noise from the turbines is “like a form of torture.” TEXAS A believer in this economy? Check out

what is going on at the massive Alliance Airport in Texas Ross Perot Jr.’s Hillwood at the Fort Worth Alliance Airport site has never created this much spec space in its long history. Currently, there are 3.1 million square feet of space under construction at Alliance. It is the largest industrial and mixed-use space available at one time at the nation’s first and largest industrial airport. That place is already home to AllianceTexas Smart Port, Perot Field Fort Worth Alliance Airport, FedEx and UPS ground hubs, the BNSF Alliance Intermodal facility, a Southwest Regional Air hub and an Amazon Air regional hub. Massive autonomous shipbuilding deal announced for Brownsville Austin-based Saronic Technologies has announced that its “Port Alpha” next-generation shipyard is going to be built at the Port of Brownsville. The $3.2 billion project aims to “restore U.S. shipbuilding” as there are barely any ships built there compared to other countries such as China and South Korea.

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Saronic designs and builds Autonomous Surface Vehicles (ASV), which require no crews for commercial and military applications. According to a press release from Gov. Greg Abbott, “This makes Port Alpha one of the largest economic development projects in modern Texas history.” Construction is set to begin later this year with initial operations beginning in 2028. It is estimated that Port Alpha will create up to 10,000 direct jobs over the next decade. It should be noted that Port Alpha will be located not far from SpaceX’s Starbase in Boca Chica, Texas, near Brownsville. Good things just keep happening in Austin In Q1 2026, the Austin region set its strongest venture capital quarter in history, with at least $4.2 billion in funding according to Opportunity Austin. In all of 2025, Austin-area companies raised $7.8 billion. Much of the new funding went to defense startups, such as autonomous boat company Saronic.

Four of the five fastest growing cities are in North Texas Census data released in May showed that Celina, Texas was America’s fastest growing city from July 1, 2024 to July 1, 2025. During that period, Celina’s population saw an increase of 24.6 percent. The No. 2 fastest growing city was Fulshear outside of Houston. The other three of the top five were in North Texas, including Melissa, Princeton and Anna, Texas. VIRGINIA Changes for Amazon’s HQ2 in Northern Virginia The Arlington County, Va. Board met in June to discuss Amazon’s plans for its latest HQ2 building — the second phase of the massive project in Pentagon City — which has been on hold since 2023 and now has an extension until June 30, 2028. The original HQ2 proposal submitted to Arlington County included about 3.3 million square feet across four buildings. The job count for Amazon is slated to be 25,000 by 2038. About 8,500 are working at HQ2 today. J

Developers at Ross Perot Jr.’s Alliance Texas have built out more spec space than ever at the massive airpark in Fort Worth.

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Relocations EXPANSIONS & Alabama

Lockheed Martin breaks ground on new missile plant in Troy, Ala.

According to Reuters, Lockheed Martin broke ground on a new 87,000-square-foot Munitions Productions Center at its defense products campus in Troy, Ala. The new facility, called Building 47, will be used for new lines for Terminal High Altitude Area Defense (THAAD) missiles. Lockheed Chairman, President and CEO Jim Taiclet said at the groundbreaking ceremony, “Today we mark an important step forward for our nation’s defense industrial base.” According to a release, the plant is part of Lockheed’s plan to invest $8 billion to $9 billion by 2030. As part of that plan, Lockheed has broken ground on a new plant this year in Camden, Ark., and plans to modernize more than 20 defense facilities in Arkansas, Alabama, Florida, Massachusetts and Texas. Lockheed has said in previous reports that it wants to quadruple THAAD interceptor production from 96 units to 400 units annually. It also agreed to triple annual output of Patriot PAC-3 interceptors to 2,000 units. The project is expected to add a “significant number of jobs over the next three years.” Lockheed already has 4,000 employees in Alabama and that looks to rise to 4,500 soon.

U.S. Steel keeps investing in Birmingham U.S. Steel is pumping $475 million into its Fairfield, Ala., tubular operations, where it makes pipe for the oil and gas industry. The company is installing a new quench and tempering line and will add capacity for heat-treated products. The expansion includes a new training center and enhanced employee areas. Six years ago, the plant began operations of its advanced $412 million electric arc furnace, which gave the facility the ability to produce 1.6 million tons of steel a year. The plant opened in 1901, and during World War II it housed about 45,000 workers. Transformer manufacturer announces big Alabama deal Virginia Transformers will make industrial power transformers at a new 600,000-square-foot facility in Colbert County, Ala. Over 1,000 jobs are expected to be generated in the capture of the project. The Roanoke-based company is the largest power transformer manufacturer in North America. The plant will be built on about 90 acres within the Shoals Research Airpark, where Norfolk Southern operates a rail spur. New data center in Columbiana, Ala., is moving to construction phase A new 40 MW data cen-

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For all projects announced in the South and more, go to SB-D.com. In 2026, SB-D.com and the Southern Business & Development print product will be retired and replaced with the new SouthernBusiness.com.

ter campus in Columbiana is now being built, after a co-location agreement was made between Digi Power X and Cerebras Systems. Cerebras is a wafer-scale chip company and Digi Power X is in Bitcoin mining. The site represents Digi Power X’s transition from high-density Bitcoin mining to institutional-grade A.I. and high performance computing. Again, construction began immediately after the agreement was reached, as the campus is a long-term revenue-generating asset anchored by a committed customer. Japanese electronics manufacturer is undergoing $500 million expansion Japan-based JST will build an automation-based facility in Guntersville’s Conners Island Business Park. Guntersville, Ala., has been home to a small JST facility since 2003. The company, which makes electronic connectors and supplied all the cable assemblies for The Sphere in Las Vegas, is investing $500 million in the robotic plant and will hire 80. Blue Origin adding 100 jobs in Huntsville Aerospace company Blue Origin is adding another 100 jobs to its current 1,600 employees in Alabama. In early 2020, the company celebrated the opening of its 350,000-square-foot Engines Factory at Cummings Research Park to produce

Hybar raises $1.1 billion to expand its facility in Osceola, Ark.

Hybar announced it has raised $1.1 billion to expand its advanced sustainable scrap metal recycling steel rebar mini-mill in Mississippi County, Ark. In June, Hybar broke ground on a project that will double its rebar production capacity there on the Mississippi River. The company has achieved positive cash flow in just the fourth month of operations of its existing facility. The expansion will include adding a second steel rebar mini-mill that will become operational within two years, which will enable the company to produce approximately 1.3 million tons of rebar annually, representing more than 10 percent of the U.S. market.

the BE-4 that powers Blue Origin’s New Glenn and United Launch Alliance’s Vulcan and the BE-3U used in the New Glenn upper stage. Financial service deals are getting frisky: StoneX hiring in Birmingham StoneX Group, a Fortune 50, New York-based financial services company, is growing its office in Birmingham. The firm is adding 90 jobs. After a dismal 2025 in financial services deals announced in the South, that sector has already announced more projects thus far in 2026 than it did in total last year. Farnborough-driven deal lands in Huntsville In July, Huntsville-based Redwire kicked off the Farnborough Air Show in London by announcing a large expansion in the Rocket City. The manufacturer of drone systems and payloads through its Stalker line will make a major investment and create 150 jobs at the Huntsville Jetplex.

U.K. manufacturer adds second facility in Alabama DPC Holdings, a manufacturer of super alloys and precision casting components used in the aerospace and energy industries, announced it is adding a second Alabama plant. The new facility in Auburn is a $50 million investment in the plant that will initially house 70 workers.

Arkansas Oobotic establishes production facility in rural Arkansas Oobotic, an advanced manufacturing company, has established its first production facility in Melbourne, Ark. The company plans to invest approximately $6.5 million in the facility and create up to 70 jobs over the next four years. Oobotic uses automated manufacturing processes to produce a variety of consumer products. The Melbourne facility will initially focus on the production of electronic products and other manufactured goods.

Lexicon completes renovated HQ in Little Rock Little Rock-based Lexicon invested over $37 million at its headquarters at the Port of Little Rock. The company is a major national construction management and steel fabrication company employing over 3,000 people. Gowan Milling expands in Blytheville, Ark. Gowan Milling is expanding its capacity producing herbicide pan granulation and suspension concentrates for farmers and general agribusiness in the area. The nearly $9 million expansion will create 34 new jobs. Another steel deal in Mississippi County, Ark. Recently, Marubeni-Itochu Steel America announced plans to build an advanced flat-rolled steel processing plant in Osceola, Ark. The new $37 million investment will bring 35 new jobs to the county, which makes more steel than any county in the U.S.

Conagra Brands expanding in Northwest Arkansas Conagra Brands, one of North America’s leading branded food companies, will expand its existing manufacturing facility in Fayetteville, Ark., through a multi-year investment of approximately $220 million. The project is expected to create more than 100 new jobs over the next five years, strengthening the region’s manufacturing workforce and economy. Faymonville Group tops out new facility in Little Rock Faymonville Group celebrated the steel topping out for its new state-of-the-art manufacturing facility in Little Rock. This marks the company’s first U.S. production facility and represents an investment of more than $100 million in the region. The company owns the MAX Trailer brand, which will be produced there. CONTINUED

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Relocations &EXPANSIONS

Johnson & Johnson announces $1 billion expansion of its vision division in Jacksonville, Fla.

Johnson & Johnson announced in the summer a $1 billion expansion of its manufacturing facilities in Jacksonville. The deal will include a new distribution center alongside advanced manufacturing and packaging technologies to add capacity for its ACUVUE brand contact lenses. The announcement is part of the company’s $55 billion commitment to U.S. investment and manufacturing by 2029.

Florida Aerospace firm breaks ground on new facility on Florida’s Space Coast Extant Aerospace is expanding into a new 300,000square-foot facility in Melbourne, Fla. The project will create 200 jobs. French food and beverage maker to invest $100 million in Pasco County, Fla. Monin, which was founded in 1912 in Bourges, France, and manufacturers flavoring products used in beverages, is investing $100 million in a plant on 70 acres in Zephyrhills, Fla. The deal will create 100 new jobs. Relativity Space expands on Florida’s Space Coast At the Farnborough Air Show in the U.K. in July, Relativity Space announced it will expand in Brevard County on Florida’s Space Coast. The manufacturing operation will create “thousands of jobs” with a “sig46 SB&D SUMMER 2026

pansion will create 500 jobs averaging about $100,000 in annual pay per job. Collins Aerospace expanding in Tampa Bay region Collins Aerospace is investing over $25 million to expand its facility in Largo, Fla., to expand capacity of its commercial aviation radars and multi-domain security solutions for its defense customers. RTX is Collins’ primary owner and employs more than 7,000 people in eight locations throughout the state of Florida. This specific deal will create 100 new highly skilled jobs.

Blue Origin announces major Florida expansion Blue Origin announced the expansion of its rocket park campus at the Cape Canaveral Spaceport. The $600 million capital investment on Florida’s Space Coast will include an 830,000-squarefoot upper stage manufacturing facility.

Smart Radar Systems (SRS) picks Osceola County, Fla., for HQ and advanced manufacturing hub South Korea-based SRS is investing $53 million for a new headquarters and plant in Osceola County in NeoCity, which is a 500-acre technology district in the Orlando market that combines research institutions and private industry in a campus setting. The radar made by SRS is used in vehicles and smart-city infrastructure. The deal will create 190 jobs.

Called “Project Horizon,” the deal “is the latest and most ambitious chapter in Blue Origin’s decade-long commitment to Florida,” said Dave Limp, CEO of Blue Origin. “Since 2015, we’ve scaled to nearly 4,000 employees, invested more than $2.3 billion across 500 Florida suppliers, and expanded to 11 sites across Brevard and Orange Counties. And we’re just getting started.” The latest ex-

BioStem to build new headquarters at FAU Research Park in Boca Raton Regenerative firm BioStem Technologies has announced it will develop a 52,000-square-foot headquarters facility with an investment of nearly $50 million in Boca Raton. Job counts were not reported, however the average annual pay for staff members is pro-

nificant capital investment,” according to initial press releases. The agreement includes an MOU between Space Florida and the United Kingdom Space Agency.

jected at $81,000. Amcor relocating its headquarters to Miami Global packaging leader Amcor is relocating and consolidating its U.S. headquarters to Miami from Michigan, Indiana and Wisconsin. It also operates other headquarter operations in Switzerland and Australia. The company makes flexible and rigid packaging and sales have topped $20 billion annually. Playboy expands Miami Beach HQ The Hollywood-to-Miami Beach relocation of entertainment company Playboy is getting larger. The famous brand announced the relocation of its headquarters from Southern California to South Florida in the summer 2025 quarter. Founded by the late Hugh Hefner, Playboy is now located in a luxury office building called Rivani in Miami Beach. The new digs are being expanded to almost 26,000 square feet and include a restaurant, members-only spaces and multimedia content studios. Otto Aerospace clears key design milestone for a business jet to be made in Jacksonville, Fla. Otto Aerospace has completed a design review for its Phantom 3500, a new business jet that the Fort Worth company hopes to build at a $430 million facility at Jacksonville’s Cecil Airport (the old Cecil AFB Field). The review takes the company one step further to starting up a private aircraft full-assembly manufacturing hub. Blue Origin to build a second launch pad at

Cape Canaveral Space Force Station Space launch company Blue Origin has filed plans to build a 500-foot Launch Umbilical Tower at Space Launch Complex 36B/11. Also included is a 600-foot Lightening Protection System tower to protect both the launch tower and New Glenn rockets on the pad. The towers will be among the tallest structures scattered along the Cape. The new site sits just north of Blue Origin’s existing facilities at SLC-36, which is where New Glenn currently operates. The expansion increases Blue Origin’s footprint to nearly 1 million square feet of manufacturing space under one roof. Data center approved in Polk County, Fla. Commissioners in Fort Meade, Fla., approved a developer agreement for a $2.6 billion data center spanning 4.4 million square feet on a former phosphate mine. The project is expected to create nearly 500 jobs.

Georgia Instant A.I. riches; instant employees Insight Global, the staffing and consulting giant, is hiring more than 1,700 people in the Atlanta suburb of Dunwoody. In July, a company spokesperson said the new hires are to keep up with the surging demand for A.I. and other services. It is a good sign in that state of Georgia data shows that business service sectors have lost about 8,700 jobs in the last year in the state. OpenAI plans $20 billion data center in Effingham County OpenAI announced in the summer it will build a data center campus near Savannah in Effingham County, Ga. Named “Project Camellia,” the campus would be the first that OpenAI is designing and building itself. Georgia Power is handling the power load for the $20 billion center with 3.2 gigawatts. OpenAI has committed to generating 1,000 megawatts and insists Georgia Power customers will not see rate increases because the

company will pay for the full cost of electrical infrastructure and service. Rayonier signs lease for new HQ in Atlanta Rayonier, a major timberland real estate investment trust and Georgia’s largest landowner, has signed a lease for its new headquarters in the heart of Buckhead. The company currently owns 4.2 million acres of timberland across 11 states, with 3.2 million acres in the South. New HQ set for Cobb County Authority Brands, parent company of home-service brands such as Mosquito Squad, will establish its new headquarters in Cobb County, creating 390 new jobs and investing $13 million over the next several years. ArcelorMittal Building Solutions to establish North American HQ in Macon-Bibb County ArcelorMittal Building Solutions will establish its North American headquarters and a new manufacturing facility

in Macon-Bibb County. The initial investment will bring roughly $57 million and up to 70 new jobs to the community, with plans for an additional $50 million in investment and as many as 70 more jobs over the next several years. Google to build $8 billion data center in LaGrange; its second in Georgia Google already operates a multi-billion-dollar center in Douglas County. This latest data center in LaGrange will create 100 jobs and 1,000 construction jobs. Company creating 300 jobs in Cordele, Ga. Georgia-based engineering and manufacturing company Yancey Engineered Solutions will invest $5.7 million in a new manufacturing facility in Cordele, creating 300 new jobs over the next several years in Crisp County. Founded in 2004, Yancey Engineered Solutions provides power generation packaging systems and is a division of Yancey Bros. Company, the authorized Caterpillar dealer for Georgia. CONTINUED

UCB to invest $2 billion in Georgia

Global biopharmaceutical giant UCB is planning a significant investment of $2 billion in Georgia to establish its first U.S. pharmaceutical biologics manufacturing facility. The investment will generate 330 new jobs at the Rowen Foundation’s state-of-the-art, 2,000-acre science and learning campus in Gwinnett County. Based in Belgium, UCB’s North American headquarters is located in Smyrna, Ga., and currently supports more than 400 jobs. UCB’s expertise spans neurology and immunology. SUMMER 2026 SB&D 47

Relocations &EXPANSIONS

Gov. Beshear: Global Laser Enrichment announces single largest investment in Western Kentucky history

In the summer, Global Laser Enrichment (GLE) announced plans to develop the Paducah Laser Enrichment Facility (PLEF), a $1.76 billion project that will create 240 high-wage positions in McCracken County.

“This is a game-changing investment for Western Kentucky and our entire commonwealth, and I am excited to see this project and the 240 great jobs come to life for families in Paducah and the surrounding region,” said Gov. Beshear. “This project solidifies our role as a leader in the country’s nuclear power sector and will transform our economy, creating opportunities for Kentucky families for generations.” GLE’s 665-acre Paducah site is strategically located adjacent to the U.S. Department of Energy’s (DOE) former Paducah Gaseous Diffusion Plant. The PLEF is currently under license application review by the Nuclear Regulatory Commission. Once licensed, the facility is expected to re-enrich over 200,000 metric tons of high-assay depleted uranium under a 2016 contract with the U.S. Department of Energy, accelerating DOE’s site cleanup mission, reducing long-term federal costs, and providing a new fuel source for nuclear power generation.

Kentucky New distillery opens in Kentucky Horse Soldier Bourbon has opened its new distillery in Somerset, Ky. The deal represents a $200 million investment.

geoning A.I. firm Anthropic at the Justified Data Center campus in Hawesville, Ky. The site was formerly used as an aluminum processing site. The massive gigawatt-scale campus is part of Anthropic’s $200 billion agreement with Google.

Anthropic signs $19 billion, 20-year lease for Kentucky data center One of the largest data centers announced in the summer quarter came from the bur-

Space Tango expanding in Lexington Space Tango, a nationally recognized leader in commercial space infrastructure and mission operations, will

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expand its Lexington operation with a $7.4 million investment, creating 25 quality, good-paying jobs. The new facility will include dedicated mission operations space, multiple laboratories, machine shops, engineering offices and collaboration areas. U.S. Smokeless Tobacco plans new facility in Hopkinsville U.S. Smokeless Tobacco, a maker of moist smokeless tobacco, is building a new facility in Hopkinsville. The deal will create 200 jobs. The plant is replacing the one in Nashville that has been there for over 100 years, which is closing next year.

Louisiana

Central Louisiana captures $3.6 billion Applied Digital’s A.I. factory campus Applied Digital Corporation announced plans in the summer to develop a $3.6 billion, state-of-the-art artificial intelligence (A.I.) factory campus in Rapides Parish. Known as Delta Forge 1, the facility is purpose-built for large-scale A.I. training and inference workloads, marking a major milestone in Central Louisiana’s economic growth and digital infrastructure expansion. The big project is expected to create 200 full-time jobs and over 1,000 construction jobs.

Meta commits more than $50 billion for North Louisiana Project Meta announced in the summer quarter it is committing more than $50 billion to its Richland Parish Data Center project, expanding the campus to nearly 10 million square feet and 5 gigawatts of IT capacity. Home to Hyperion, the company’s largest A.I. training cluster, the Northeast Louisiana facility will be the largest in Meta’s global fleet and one of the largest data centers ever built.

SpaceX announces the largest spaceport in the world in rural Louisiana At deadline, SpaceX announced it will build a massive $100 billion spaceport in Vermilion Parish, La., capable of thousands of launches annually. At full build-out, the site is expected to include five launch complexes, each with two launch pads. Construction is expected to begin by the end of 2027. The complex is expected to create 3,000 permanent jobs with an average salary of over $90,000.

As demand for artificial intelligence continues to accelerate worldwide, the infrastructure powering it is expanding to meet growing demand. With this investment, Meta is establishing the Richland Parish Data Center as the cornerstone of its global infrastructure. The project will support 7,500 construction jobs and over 1,000 operational jobs.

“We’re preparing to build a spaceport that, until now, has only existed in science fiction,” said SpaceX CEO Elon Musk. “SpaceX was founded to bring about a future where humans are out exploring amongst the stars, which will only be possible when we make going to space as routine as flying on an airplane. Starbase Louisiana will unlock that future.”

Turner Industries hiring 1,000 in New Iberia and Port Allen facilities Turner Industries, a leader in industrial construction, fabrication and maintenance, announced two nuclear fabrication facilities across two regions of Louisiana. The sites in New Iberia and Port Allen will be dedicated to the production of high-precision modules and nuclear-grade piping for the next generation of reactors and modular power plants across the country. The facilities are designed to meet the rigorous quality standards required by the Nuclear Regulatory Commission. The company is expected to create 1,000 jobs, 500 at each site.

Shintech announces $3.4 billion expansion in Louisiana Shintech Louisiana recently announced a $3.4 billion investment to bolster its manufacturing capabilities in the state. The project includes construction of a second ethylene unit and a fourth chlor-alkali and vinyl chloride monomer unit at the company’s existing Iberville Parish facility, marking the next phase of the company’s long-term growth in Louisiana. The company is expected to create 163 direct new jobs with an average annual salary of $117,329, which is 42 percent above the average Iberville Parish wage, while also retaining 725 current positions.

Air Liquide invests $350 million to strengthen Louisiana footprint and support Hyundai Steel project on Mississippi River Air Liquide is investing more than $350 million in Louisiana to expand industrial gas production and infrastructure, supporting Hyundai-POSCO Louisiana’s (HPLS) new low-carbon steel facility and advancing a growing ecosystem of next-generation manufacturing along the Mississippi River. Air Liquide will add a new Air Separation Unit in St. James Parish at the existing Koch Methanol facility and expand pipeline infrastructure along the Mississippi River. These upgrades will deliver the oxygen, nitrogen and argon needed for Hyundai-POSCO’s steel production while also increasing capacity and efficiency at the current facility.

Amazon selects Louisiana for $12 billion data center campus in major U.S. expansion Amazon announced plans to invest $12 billion to construct a new, state-of-the-art data center campus that will support cloud computing technologies. The development represents a coordinated, multi-site investment across Caddo and Bossier Parishes, designed to support regional economic activity and serve customers. The project is expected to create 540 direct new jobs. Southern Energy Renewables announce $1.4 billion methanol and sustainable aviation fuel facility in St. Charles Parish Southern Energy Renewables announced it will invest $1.4 billion to develop a green methanol and sustainable aviation fuel (SAF) production facility that will con-

American Sugar Refining breaks ground on $785 million modernization project in Louisiana

American Sugar Refining has broken ground on the first phase of a $785 million modernization project at the Domino Sugar Chalmette refinery in St. Bernard Parish. The refinery is the largest in the Western Hemisphere. The deal will create 15 jobs and retain 500.

vert the region’s abundant wood-waste biomass into some of the lowest lifecycle-carbon fuels on the market. The company is expected to create 120 direct new jobs. NPK to invest $40 million in Lafayette Parish NPK Access Solutions LLC announced it will invest $40 million to expand its manufacturing operations in Lafayette Parish, where the company has spent decades producing recyclable composite matting products used in infrastructure projects across the country and around the world. The deal will create 38 jobs.

Mississippi Huge deal announced in North Mississippi Florida-based Jabil will open a new manufacturing facility in Marshall County, Miss. The company is a global engineering, supply chain and manufacturing solutions provider. The proj-

ect represents a corporate investment of more than $119 million and will create approximately 2,200 jobs. Jabil’s new location — an existing 1.5 million-squarefoot facility it is purchasing and renovating — will support customers in the data center infrastructure market. Aluminum Dynamics to develop recycled aluminum slab center in Lowndes County, Miss. Aluminum Dynamics, a recycled aluminum manufacturer, plans to develop a recycled aluminum slab center in Lowndes County. The project represents a corporate investment of more than $200 million and will create 100 new jobs. Electronics manufacturer expanding in Corinth, Miss. Keytronic is expanding in Corinth. Keytronic designs and builds complex electronic and electromechanical products. The company’s SUMMER 2026 SB&D 49

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vestment will be built on an 80-acre site in Brandon, near their existing box plant.

North Carolina

Amazon continues Mississippi expansion, announcing plans to invest a total of $25 billion across the Magnolia State

Amazon announced plans to invest an additional $12 billion in central Mississippi, continuing its expansion in the state. This latest announcement includes a planned $11 billion expansion of the company’s existing data center operations in Madison County, a project that will create 700 new jobs. The announcement also includes a new planned $1 billion project in Clinton that will create 100 jobs. With these investments, Amazon expects to create more than 2,000 jobs with a total planned capital investment in the state of $25 billion.

The Madison County expansion builds on Amazon’s 2024 announcement of plans to invest at least $10 billion and create 1,000 direct jobs to establish data center campuses in the county. The Clinton project, which retrofits the former Delphi Corporation plant, is Amazon’s first location in the city. In November 2025, Amazon also announced a planned $3 billion project in Vicksburg that is creating at least 200 positions.

Corinth location is a full-service facility with extensive production capabilities, including electronics assembly, final assembly, product fulfillment, warehousing and distribution. The project is a $9 million investment and will create 376 jobs. German cookie manufacturer to invest over $70 million in Mississippi Griesson de Beukelaer, a German manufacturer of cookies and snack products, is locating operations in Madison County, Miss. The project represents a corporate investment of more than 50 SB&D SUMMER 2026

$70.37 million and will create 30 new jobs. Nice deal for Southaven SIP Manufacturing, which is a third-party beverage co-packer, is establishing operations in Southaven, Miss. The project represents a corporate investment of more than $100 million and will create 187 jobs. Memphis-based International Paper to invest $225 million in Mississippi International Paper is building a new 463,000-squarefoot facility in Rankin County, located in the Jackson MSA. The $225 million in-

Startup JetZero breaks ground on massive aircraft plant in Greensboro California-based JetZero officially broke ground on its $4.7 billion plant at the Piedmont Triad International Airport in late June. JetZero is developing a blended-wing passenger jet airliner called the Z4, which can seat up to 250 passengers. The futuristic design will enable airliners to be 30 percent more aerodynamic than the typical airliner. The company expects to have 8,000 workers by 2027, and eventually over 14,000 to build the new airliners. Swiss biotech MindMaze establishes U.S. HQ in Charlotte A $1 billion company is placing its headquarters in Charlotte. MindMaze Therapeutics has chosen The Pearl district of the Queen City. Founded in 2012 in Lausanne, Switzerland, the company is a leader in neurotherapeutic technology that treats those with strokes, Alzheimer’s and Parkinson’s. SMBC Group announces 2,000 new jobs in Charlotte SMBC Group, one of Japan’s largest financial institutions, is creating 2,000 jobs over the course of six years and investing $50.5 million to establish a new office and second U.S. headquarters in Charlotte. “Japan is one of North Carolina’s top economic partners,

and I’m honored to welcome another leading Japanese company to our state,” said Gov. Josh Stein. “Charlotte, the second biggest banking center in the United States, will be an ideal home for SMBC’s second North American headquarters as the bank continues to grow.” The project is one of the largest economic development deals in Charlotte history and the pay will be good as well. . .the average salary will be over $165,000. Data center slated for rural county in the Research Triangle PointOne Data Centers and CyrusOne are planning a new data center in Lee County, N.C. The $900 million center will include 40 jobs. Big pharma deal in Durham AbbVie announced a new $1.4 billion pharmaceutical manufacturing campus in Durham. The 185-acre campus will combine advanced manufacturing, a lab and technologies using A.I. in the production of the company’s immunology, neuroscience and oncology medications. The project is expected to create 734 jobs. JP Morgan Chase is investing in the nation’s No. 2 banking hub JP Morgan’s new corporate office in the giant SouthPark development south of uptown Charlotte can house 1,000 workers with 400 of those new hires announced recently. The new hires come at a time when A.I. is displacing workers at many banks, but a company spokesman said, “No com-

puter or A.I. bot is going to replace humans in a relationship business.” Nucor celebrates grand opening of $440 million steel plant in Lexington A $440 million micro mill by Nucor has opened in the Carolina Core region of North Carolina. The project is expected to create 200 jobs in the Lexington area. Duke investing billions in power projects in North Carolina Duke Energy is investing tons of cash in new electric power infrastructure in Davidson and Davie Counties, N.C. Electricity demand all over the South, but especially in North Carolina and Texas, is rising at unprecedented rates. Duke is building two combined-cycle natural gas units in addition to upgrades in fuel storage and reliability facilities. The electric grid expansion is expected to create 1,000 construction jobs and represents an investment that tops $1 billion. Fayetteville lands unmanned aerial systems manufacturer Skyeton, previously known as Project Odesa, has selected Fayetteville and Cumberland County as the location for its U.S. headquarters and first manufacturing facility in North America. The project will create 162 jobs with an average annual salary of $70,759. The company will invest $3.4 million in real

estate and equipment. Skyeton currently has production operations in Ukraine, Germany and Slovakia. Its new Fayetteville facility will support the development and manufacturing of advanced technologies designed to enhance the capabilities of military personnel, allied partners and first responders. Capital Group picks Charlotte for major operation Asset manager Capital Group has chosen Charlotte for its East Coast operations hub. The deal capture will include a $60 million investment and 600 new jobs.

Oklahoma Aerospace firm expands in Oklahoma Pryer Aerospace, a maker of complex aerospace components and assemblies, broke ground in the summer quarter on an expansion in Claremore, Okla. Pryer Aerospace’s customers include Blue Origin, Boeing, Nordam, Orizon and U.S. defense contractors. McKesson selects Moore, Okla. The McKesson Corporation, a Fortune 100, U.S.-based company that serves as a logistical and operational backbone of the healthcare system to help ensure patients can access medicines, has selected Moore, Okla., as the location for a highly automated regional

distribution facility. The deal will create over 200 jobs. Big refinery breaks ground in Oklahoma The first U.S. refining investment in decades, according to the Oklahoma Department of Commerce, has broken ground in Duncan and Stephens County. Green Fuels Operating will locate a $400 million refinery at the site of a former refining complex dating back to the 1920s, bringing clean-engineered fuel production, career-level jobs and longterm economic investment to Stephens County. Meta breaks ground on data center in Tulsa Local and state leaders joined Meta to break ground on the company’s newest data center in Tulsa, representing an investment of more than $1 billion and marking one of the largest economic development projects in the region’s history. The Tulsa Data Center is expected to support more than 1,000 construction jobs at peak and create approximately 100 operational jobs

once completed. This will be Meta’s first data center in Oklahoma, its 28th in the U.S., and its 32nd globally. The Tulsa Data Center, located at the Fair Oaks 2,000acre industrial innovation park in East Tulsa, will span more than 2 million square feet. Meta is the first anchor tenant at Fair Oaks Innovation Park, Oklahoma’s first REDI Site, a new national standard for evaluating readiness for industrial development. This project will play a critical role in supporting Meta’s global infrastructure while delivering meaningful local impact. Sofidel continues its expansion in the U.S. with $775 million investment in Inola Sofidel, one of the world’s leading paper manufacturers producing tissue for hygienic and household use, is expanding its facility in Inola, Okla. The total investment amounts to $775 million, and the machine startup is scheduled for the second quarter of 2028. CONTINUED

Caterpillar adds 600 jobs at its plant in Sanford, N.C.

Texas-based Caterpillar is adding workers at its compact skid-steer loader plant in Sanford, located in the Research Triangle region. The plant has been in operation since 1999. SUMMER 2026 SB&D 51

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Autonomous drone operation opens first full-scale facility in Tulsa, Okla.

Manna — a leader in autonomous drone delivery (think pizzas and packages) — announced the launch of its first full-scale metropolitan U.S. operation in Tulsa, Okla., establishing the city as its central operational base in the United States. Manna was founded and is headquartered in Ireland. Over the next three years, Manna expects to create more than 1,000 jobs in Tulsa across aviation and flight operations, commercial operations, customer support, manufacturing, and maintenance and business functions.

South Carolina USA Rare Earth to invest $1.2 billion in South Carolina USA Rare Earth, a global leader in rare earths, critical minerals and advanced materials, announced it has selected Cherokee County for its first South Carolina operation. The total investment of approximately $1.2 billion will create about 490 new jobs in the state. With operations in Europe, the United Kingdom and the United States, as well as a planned acquisition of a major rare earth mine in Brazil, USA Rare Earth is building a global rare earth and permanent magnet value chain to serve advanced manufacturing for both commercial and defense technologies supporting the U.S. and its allies. The new facility, which will be located at Bailey Park in Blacksburg, will produce ne o dymium-iron-b oron (NdFeB) permanent magnets and refined rare earth metals. 52 SB&D SUMMER 2026

The only rare earth magnet facility in the Western Hemisphere opens in Sumter County With an investment surpassing half a billion dollars to produce critical infrastructure for the military and the nation, eVAC Magnetics hosted a grand opening ceremony in August at the Pocotaligo Industrial Park, the culmination of several years of hard work and planning. “Today, we officially make magnets in the heart of South Carolina — these magnets make the world go ’round,” said Sumter Economic Development President and CEO Jay Schwedler. The work behind these ceremonies is often “unglamorous,” Schwedler said, but a key part of the equation. The $506 million project will be staffed by 300 workers. Another huge project hits the books in the South The South Carolina Department of Commerce announced in the summer final approvals for Octapharma’s

first U.S. manufacturing and production facility in York County, S.C. The $1.5 billion investment is projected to bring more than 1,500 jobs to Rock Hill. Headquartered in Lachen, Switzerland, Octapharma has more than 40 manufacturing and office sites worldwide, with production facilities in Austria, France, Germany and Sweden. The company, which was founded in 1983, develops and produces medicines based on proteins derived from human cell lines and human plasma. This new facility will be located in Rock Hill’s Palmetto Research Park. Copper manufacturer to open first plant in Charleston County Red Metals, a next-generation copper manufacturer, announced it is establishing its first copper manufacturing operation in Charleston County. The company’s $70 million investment is expected to create at least 45 new jobs.

Solar cell manufacturer to create over 564 jobs in Laurens County Suniva, a U.S.-owned solar cell manufacturer, has selected Laurens County for its first South Carolina manufacturing facility. The company’s $350 million investment will create 564 new jobs. Suniva is one of the largest and oldest merchant solar cell manufacturers in the country. Founded in 2007 out of U.S. Department of Energy-funded research at Georgia Tech, the company became well known for leading the push for solar cell manufacturing in the United States as a pillar of the nation’s energy independence and domestic energy security. Peptide manufacturer expands in Aiken County, AmbioPharm, manufacturer and developer of peptides (short chains of amino acids), announced it is expanding its operations in Aiken County. The company’s $118.96 million investment will create 202 new jobs

Tennessee Medical device manufacturer moves from Franklin to Maury County Medacta International is relocating its headquarters and manufacturing to Spring Hill, in the Nashville region. Spring Hill is also home to the massive GM plant that has been operating for decades there in Middle Tennessee. The $85 million project will create 200 new jobs. Wilson County lands nice project Bridgetown Natural Foods announced it will expand its operations in Wilson County, located just east of Nash-

ville. The company is investing over $24 million and will create 237 new jobs. Nuclear deal announced in Oak Ridge TRISO-X plans to create 1,140 new jobs in Oak Ridge, Tenn. The company will construct a new fuel facility and R&D center at the Horizon Center Industrial Park. TRISO-X became the first to receive a license from the Nuclear Regulatory Commission to build and operate a commercial-scale plant to produce HighAssay Low-Enriched Uranium fuel in the U.S. The plant will also produce advanced small modular reactors. SpaceX buys 785,000-square-foot building in Memphis SpaceX has paid $185 million for a 785,000-squarefoot data center in Memphis. According to sources, it is xAI’s first data center. SpaceX acquired xAI in February of 2026 for $125 billion. Big deal in rural Gibson County, Tenn. Few people know that the Gibson County Courthouse is painted red and orange. We do. There in the city of Humboldt, Reinhausen — a maker of transformers and other grid-automated technologies — is investing $6.7 million and creating 90 jobs.

Manufacturer picks Putnam County for 288job deal LEV Manufacturing, a maker of Rad Power Bikes, is investing $7 million in Algood, Tenn. The electric bike manufacturing and assembly operation will house nearly 300 workers in a 100,000-squarefoot facility. Stella-Jones to create 230 jobs in Fayetteville A new steel lattice tower manufacturing facility is going up in Lincoln County. Stella-Jones is investing $45 million for its first U.S.-based steel structure manufacturing operation. Over 200 jobs are expected to be created. Big deal in two different Tennessee counties Create Energy officials announced the company is launching a major expansion, creating a total of 1,003 new jobs and investing more than $78 million across Sumner and Robertson Counties. Founded in 2023 in Portland, Tenn., Create Energy has quickly emerged as a U.S.based powerhouse in renewable energy infrastructure. Morgan Steel expanding in Memphis Morgan Steel will create 119 jobs and invest over $11 million in Memphis to increase capacity at its plant

and headquarters. Founded in 2014, Morgan Steel started with 18 employees and now has more than 400 at two operations in Memphis and Greenville, Texas.

Texas Samsung is relocating its U.S. HQ to Plano from New Jersey Samsung Electronics America will relocate its U.S. headquarters from Englewood Cliffs, N.J., to Plano by the end of this year. About 1,000 workers in New Jersey will choose to follow the company to Plano or lose their jobs. Samsung has operated a large computer chip plant in Austin, and its newest semiconductor facility is expected to be operational later this year. That $37 billion chip plant near Austin in Taylor, Texas, is close to completion. Elon Musk’s SpaceX campus in Bastrop County could be 11 million square feet A new SpaceX campus that will make lots of things is being planned for the East Austin market of Bastrop. Called “Gigasat,” plans are for 11 million square feet, or 1 million more square feet than Musk’s Tesla factory near the Austin airport. The plant is expected to produce solar products, like ingots

and wafers, and will be used to build data centers that are expected to be sent to space by the end of 2027. So, satellites will be built there, too. A.I. infrastructure firm LITEON to spend nearly $1 billion on new Texas facility Asian company LITEON Technology Corporation is investing $919 million in McKinney, Texas, for a large advanced manufacturing campus. The company is involved in power management and builds A.I. infrastructure. The deal will create 600 new jobs. Texas Instruments expands Richardson plant Dallas-based Texas Instruments plans to expand chip-making capacity at its plant in Richardson. The semiconductor manufacturer plans to inject $700 million into its plant that makes chips used in satellites, smartphones, vehicles and other electronic devices. Big deal on the Gulf DP World has entered into an exclusive agreement for a long-term lease to develop and operate a container terminal at the Port of Corpus Christi. The agreement marks a key step toward expanding containerized cargo in the U.S. Gulf. DP handles about 10 percent of global

Candy maker to invest $675 million, projected to create 1,000 new jobs over 10 years in Orangeburg County, S.C.

Ferrara Candy Company, a leading sugar confectioner in the United States, Brazil and Europe, announced plans to establish its first South Carolina operation in Orangeburg County. The company’s $675 million investment is projected to create 1,000 manufacturing and corporate jobs over the next 10 years.

SUMMER 2026 SB&D 53

Relocations &EXPANSIONS container traffic each year through a network of more than 60 ports and terminals worldwide.

on the site. Elon Musk is also proposing a $55 billion computer chip plant in Bastrop County.

Large, 2,800-acre data center pegged for Bastrop County, Texas Another data center is headed to the Cedar Creek area of Bastrop County, located just east of Austin. One of the other locations for the project was scrapped as a competing town in Ohio just placed a 12-month moratorium on data center projects. Construction is expected later this year for a gas-fired electric generation facility

Joint venture to spend $500 million to expand pharma plant in Austin ICU Medical and Otsuka Pharmaceutical Factory America are investing $500 million in Northwest Austin to nearly double the size of its factory. The company manufactures products such as IV bags. German aircraft engine MRO company opens new $120 million hub in Fort Worth; 1,200 jobs Munich-based MTU Aero Engines AG opened its newest operation on July 8th at a 462,000-square-foot building in AllianceTexas, Hillwood’s 27,000-acre master planned development in north Fort Worth. The building was the former American Airlines’ original maintenance base and a Rolls Royce engine plant. The project will create 1,200 jobs, most of which will be engine mechanics. The German company’s first customer is Brazilian airline GOL Linhas Aéreas.

New LNG export plant in Brownsville is one step closer to construction Texas LNG Brownsville has provided the project’s Engineering, Procurement and Construction contractor — Kiewit Energy Group. Kiewit covers the purchase of longlead equipment and engineering activities for the plant. The LNG export campus — expected to cost tens of billions of dollars — has received Federal Energy Regulatory Commission authorization for construction and operation. San Antonio set to land three massive 5,220-megawatt data center campuses San Antonio is set to land massive data center campuses at three locations and on 3,500 acres of land in the region. Tract Capital, a data center developer backed by Berkshire Partners, is pursuing a “horizontal powered land strategy” for master-planned data center campuses. One site is 255 acres in Medina County and another is 1,515 acres in Caldwell County. The third location has not yet been chosen.

Toyo Solar is locating solar cell manufacturing facility in Houston metro Toyo Solar is locating a $357 million solar cell facility in Houston. The plant will house about 400 workers. SEG Solar announces third solar module plant in Houston SEG Solar is building a new 4.6-gigawatt facility in the Houston metro. The 1.1 million-square-foot plant will include the factory and a large warehouse. Davie Defense breaks ground on $1 billion shipbuilding facilities Davie Defense has begun a $1 billion modernization of the Gulf Copper shipbuilding facilities in Galveston and Port Arthur, Texas. The deal marks the return of complex shipbuilding to Texas for the first time in decades. The modernization is tied to a $3.5 billion U.S. Coast Guard contract awarded to Davie Defense for five 328-foot Arctic Security Cutters. Three of those will be built at the Gulf Copper shipyards. The project is expected to create 2,400 direct jobs at the two shipyards.

Musk expanding near Austin with Optimus 4 robot project

Elon Musk is expanding his Gigi Texas plant, where Tesla EVs are made, to produce up to 10 million humanoid robots a year in the Austin area. His factory in Freemont, Calif., is targeting 1 million robot units per year in 2026, and the Texas factory is slated for 10 million a year in 2027. The robots are being designed to redefine manufacturing, labor and even the entire U.S. economy. They are not simply factory drones. Musk envisions a general-purpose robot that learns like a human. Musk has been quoted saying that Optimus will “significantly impact U.S. GDP,” calling it “10 times bigger than the next biggest product ever” (such as the iPhone). He sees it solving the $38 trillion U.S. debt via deflationary abundance and easing poverty with endless labor. Construction and worker training has already started on the line that will produce the Optimus 4 robot. 54 SB&D SUMMER 2026

Celestica announces huge deal for Richardson Celestica will invest $300 million and add 2,300 new permanent positions in just two years at its facilities in the Dallas-Fort Worth suburb of Richardson, Texas. The deal also retains 400 existing jobs. Celestica is a global leader in data center infrastructure and advanced technology solutions. The new space will top the 1 million-square-foot mark for the company in Richardson. A $3.2 billion shipyard proposed for BrownsvilleCameron County Cameron County and Port of Brownsville officials just approved incentives for one of the largest shipyards ever to be built on the Gulf of Mexico. The shipyard would build A.I.-driven drone boats for defense and commercial markets. The $3.2 billion project could generate 10,000 construction jobs and 10,000 permanent ones if approved and financed. Chip plant expansion set for Sherman, Texas Coherent Corp. is significantly increasing its factory footprint in Sherman, according to SEDCO.org. Sherman has a significant wafer production cluster. The Pennsylvania company will invest $650 million to quadruple wafer production capacity at its facility that is supporting the demand for A.I., which continues to skyrocket. WHOA! SpaceX looking at Grimes County for $55 billion plant (that is with a “B”) SpaceX is proposing a semi-

conductor manufacturing and advanced computing facility where a coal-fired power plant once operated in the rural town of Gibbons Creek Reservoir, Texas. Called the Terafab project, a public hearing notice in the summer estimated capital investment in the initial phases is at $55 billion. The site of a former power plant already has major energy transmission access and a history of large-scale energy use. Grimes County is located near College Station, Texas. SpaceX announces large expansion in Bastrop County Equipment installation is well underway at SpaceX’s $280 million expansion near Austin in Bastrop County. The deal is part of the company’s broader A.I. and semiconductor ambitions. The expansion will add about 1 million square feet of space at the site, enabling in-house production of packaged silicon and Starlink hardware. The new facility will house about 400 workers. Turkish power plant worth $4.5 billion going up at the Port of Brownsville According to the San Antonio Business Journal, Karpowership, a Turkish power producer, plans to acquire land at the Port of Brownsville to build a $4.5 billion energy project. The deal could generate up to 700 jobs. Blue Origin focuses on big deal in Williamson County In the summer, state and regional economic development agencies issued a re-

quest for information (RFI) on behalf of Jeff Bezos’ Blue Origin space company. Sites within 15 miles of Interstate 35 in the Austin metro area in Williamson County are being assessed. The project is expected to be valued at about $1 billion, with as many as 2,200 jobs created. The area is viewed as a “space corridor” with Firefly Aerospace, National Aero Stands and Valken Industries in operation there. Blue Origin also operates Launch Site One near Van Horn, Texas, 120 miles from El Paso. Since 2015, that site has launched 36 flights of the New Shepard rocket. It should be noted that one of Blue Origin’s largest rockets blew up in a test at Cape Canaveral on Florida’s Space Coast in May, obviously forcing the company into somewhat of a retreat for the time being. Korea Times: Samsung to break ground on a second plant in Taylor, Texas by end of year An announcement that proves A.I. is not even close to slowing down; Samsung officials in the summer quarter announced a second chip plant in Taylor, Texas. The company made the announcement during its second-quarter earnings call, during which it also announced a $62 billion profit. The total represents a 1,814 percent growth rate from a year earlier. The new semiconductor plant would be Samsung’s third in the Austin metro. It operates a multi-billion-dol-

Huge Morgan Stanley deal in Dallas moves closer to reality

Dallas lawmakers signed off on an incentive deal on June 24th for a new $1.3 billion Morgan Stanley office tower encompassing 708,000 square feet. In the interim, the company will lease space nearby while the new office skyscraper is being built. The financial services giant will relocate nearly 5,000 jobs to Dallas from Manhattan. It is another banking coup for North Texas, which bills itself as “Y’all Street.” The Dallas-Fort Worth area has captured some huge relocation deals in the past, including Toyota’s North American headquarters from California and way back, American Airlines, among many others. SUMMER 2026 SB&D 55

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Rural King investing $40 million in Henry County, Va. Rural King, a national retail brand specializing in farm and home supplies, will invest $40 million to establish a new distribution facility in Henry County. Upon completion, the company expects to create 150 new jobs at the facility.

As part of the investment, Rural King acquired an existing 500,000-square-foot warehouse facility at the Patriot Centre Industrial Park that was previously vacated by VF Corporation in 2025. The site selection aligns with broader efforts by the Spanberger Administration and the Commonwealth to leverage existing business-ready sites across Virginia and to drive business investment to every community.

lar plant in Austin and has for decades; and is finishing up its latest plant, also in Taylor, a $17 billion facility that is about to begin full production. Taylor, Texas approves $2.5 billion data center near new Samsung chip plant While construction for Samsung’s multi-billion-dollar chip plant near Taylor, Texas has just about ended and the company has begun limited operations, a new data center nearby has been approved by the Taylor City Council. The data center is expected to support about 3,000 construction jobs, many of which will simply move from the Samsung plant to the six-building data center that will house about 300 permanent workers. 56 SB&D SUMMER 2026

Virginia Virginia-based defense firm to invest $18 million Manassas-based Hepburn and Sons is investing over $18 million in a new headquarters in Prince William County, Va. Mainly involved in the maritime industry, the company is branching out in new areas of military defense. The project will create 80 new jobs. Austrian company to establish HQ in Virginia RINGANA, an Austrian life sciences company known for skincare and nutritional products, will invest $85 million over the next five years to establish the company’s first U.S. headquarters, production and distribution facility in Roanoke. The project will create 435 new jobs.

“To infinity and beyond!” Scout Space expands in Fairfax County Scout Space, a technology company specializing in systems and software deployed on satellites, will invest more than $1 million to expand the company’s operations in Fairfax County, with a plan to create 31 new jobs in the Commonwealth. Nice deal in Arlington, Va. Spatial Front, Inc., a privately held information technologies firm, will relocate its corporate headquarters to Arlington, creating 450 new jobs in Virginia through a $6 million investment. Founded in 2008, and previously headquartered in Bethesda, Md., Spatial Front provides mission critical IT and professional services primarily to U.S. federal agencies that focus on A.I. and machine learning, systems integration, digital modernization, cloud services, and IT operations and maintenance. Loudoun County captures $750 million battery energy storage facility Omaha-based energy company Tenaska has announced plans for a $750 million battery energy storage facility in Northern Virginia. Loudoun County is home to about 200 active data centers with more than 100 announced or in the pipeline. Battery storage facilities keep data centers running during peak grid use and outages. Jabil establishing new manufacturing site in Prince George County Jabil, a maker of power distribution systems and solutions for Siemens, is adding 352 jobs in Prince George Coun-

ty. The demand for power and its suppliers continues to set records in virtually every category from jobs to investment in Virginia and the South in general. Jabil is headquartered in St. Pete, Fla., and has 140,000 employees globally. Nice defense project announced in Fairfax Blue Sky Innovators, a defense technology company focused on technological and operational insights, plans to invest $7 million to expand its Northern Virginia operations, creating 175 new jobs. Huge rocket project in Virginia L3Harris Technologies — a global leader in defense tech and solid rocket motor manufacturing — will invest $1.27 billion to increase capacity at the company’s production facilities in Orange County, Va. The expansion is expected to create more than 350 jobs, and builds on the company’s previously announced investment to expand tactical solid rocket motor production in Virginia. “I congratulate L3Harris on its historic expansion in Central Virginia,” said Gov. Abigail Spanberger. “With a deep talent pipeline and strong track record in the defense and advanced manufacturing sectors, the Commonwealth is ready to fill the hundreds of new positions coming to Orange County. L3Harris exemplifies the kind of partnership that is critical to Virginia’s future success, and I look forward to continuing to create a thriving business climate that brings further investment to our Commonwealth.” J

SouthernAutoCorridor Regional

Daimler Truck shifting operations from Oregon to the Carolinas In the summer quarter, Daimler Truck North America announced it is shutting down its 84-year-old plant in Portland, Ore., and moving production to North Carolina and South Carolina. The German truck maker is consolidating assembly to larger factories in the Carolinas. Alabama Big automotive deal in Gadsden Global automotive supplier Minth Group Limited plans to turn a former steelmaking site in Gadsden into its largest ever campus in a $430 million investment that will create more than 1,300 jobs. Italian automotive leather manufacturer announces first U.S. facility in Auburn Vulcaflex S.p.A, an Italian manufacturer of synthetic leathers used in the automotive industry, is opening its first U.S. facility in Auburn. The $70 million plant will house 130 workers. South Korean supplier to build first U.S. plant in Auburn Kamtec announced in June it will open its first U.S. plant in Auburn. The company will make components for engine control and electric management in hybrid vehicles. The $9.2 million investment will create 50 new jobs. Auto components maker to bring new facility to Opelika GMB USA Alabama Inc. will produce precision automo-

Toyota Motor Manufacturing Kentucky is celebrating 40 years of manufacturing in the commonwealth by announcing an $800 million investment to prepare the plant for its second electric vehicle.

tive components for hybrid electric vehicles at its new operation in the Orr Industrial Park in Opelika, further positioning the region as a hub for next-generation automotive technology. The project will create 75 jobs with an investment of $9 million to build hybrid EV performance parts. Auto parts supplier invests in Auburn Shinhwa Auto USA Corporation is strengthening its manufacturing footprint in Auburn with a $37 million expansion that will bring advanced tooling capabilities and vertical integration to its Alabama operations. The strategic investment incorporates Italian toolmaker SAPP S.p.A. into Shinhwa’s Auburn operations, creating approximately 20 engineering and technical positions while positioning the company to deliver complete aluminum die casting solutions from a single U.S. manufacturing base.

Florida GEICO is expanding its new campus in Tampa with more than 1,000 new jobs GEICO announced in the spring quarter it is bringing more than 1,000 new jobs to the Tampa Bay region. The automotive insurer is adding to its substantial base in Florida, with campuses in Tampa, Jacksonville and Lakeland. This latest expansion adds 190,000 square feet of space at its campus near the Tampa International Airport. Georgia Rivian’s Georgia plant one step closer to opening Electric vehicle maker Rivian has renegotiated a loan from the U.S. Department of Energy down to $4.5 billion from $6.57 billion. The lowered loan will enable Rivian to draw on it sooner, but it also lowers its total production capacity at the Georgia plant to 300,000 EVs a year. Rivian reported that production of the company’s R2 electric ve-

hicle is on track to be built in Georgia in late 2028. Ground breaking at the plant occurred last year in Social Circle, Ga. Mercedes-Benz North America announces new R&D center in Atlanta Mercedes has inked space in West Midtown Atlanta to bring a new tech hub to the city. The German automaker relocated its U.S. headquarters from New Jersey to Sandy Springs, a suburb of Atlanta, in 2018. In May, the company announced that it would relocate 500 employees from Michigan to create a base in Atlanta for all of North America. The $34 million tech center is an addition to all of that activity. Mercedes-Benz also holds the naming rights to the stadium in downtown Atlanta, and its two largest U.S. plants — Daimler in South Carolina and Mercedes in Alabama — are not far from its Atlanta home. CONTINUED

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SouthernAutoCorridor Porsche Cars North America leases large space in Spalding County Porsche, which has its North American headquarters in Atlanta, has leased an 806,000-square-foot warehouse in Spalding County. The big box will serve as a regional parts distribution hub. Yamaha to move HQ to the Peach State Yamaha Motor Co., Ltd. has officially decided to move its U.S. headquarters to Kennesaw, Ga., opting to relocate out of California following roughly 50 years of operation there. This decision follows a meeting between the governor and Yamaha executives in October of last year at the Southeast U.S./Japan annual gathering in Tokyo. Kentuc k y Ford targets another billiondollar-plus investment at Louisville truck plant The Ford Kentucky Truck Plant’s rumored $2 billion expansion is one step closer to reality. Gov. Andy Beshear confirmed the proposed expansion with some details: The $2 billion expansion would be built on 70 acres of land adjacent to the existing plant that assembles the Ford Super Duty, the Ford Expedition and Lincoln Navigator models. That plant already houses roughly 9,000 workers. Ford has been in Louisville since Model Ts rolled off the assembly line in 1913. The company operates another plant in Louisville that makes Ford SUVs. Gov. Andy Beshear: Toyota celebrates 40th anniversary in Georgetown announcing $800 million investment Toyota Motor Manufac58 SB&D SUMMER 2026

turing Kentucky (TMMK) is celebrating 40 years of manufacturing in the commonwealth by announcing an $800 million investment to prepare the plant for its second electric vehicle. In addition, Toyota will donate a combined total of $4.4 million to Fayette and Scott County Schools and Eastern Kentucky University to help advance the next-generation workforce and manufacturing in the U.S. “Kentucky changed for the better 40 years ago when Toyota chose to make Georgetown its new Kentucky home,” said Gov. Beshear. “Toyota Motor Manufacturing Kentucky is Toyota’s largest vehicle manufacturing plant in the world, producing over 15 million vehicles since its doors opened.” Mississippi Toyota parts supplier picks Tupelo region Auto Parts Manufacturing Mississippi (APMM) is expanding its operations in Lee County. The project represents a $53 million corporate investment and will create 28 jobs. APMM is one of the leading parts suppliers in North America for the Toyota Corolla, which is manufactured in Blue Springs. Started by Toyota Auto Body-Japan in 2007, the APMM began production in 2011 and specializes in metal stamping, injection molding, plastics and robotic welding. North Carolina sues to get the VinFast site back in Chatham County North Carolina is suing Vietnamese electric vehicle manufacturer VinFast for breach

of agreements, according to The Carolina Journal. Attorney General Jeff Jackson filed the suit on behalf of the North Carolina Department of Commerce in May. “VinFast agreed to build a factory and create jobs for North Carolinians — it didn’t do either,” Jackson said in a press release. VinFast’s original announcement of a $3 billion investment and 7,500 jobs at the height of more than $250 billion in EV investment “announcements” made in the Southern Automotive Corridor from 2021 to 2024, is one of about half of those “big deals” that have not panned out or have been delayed. North Carolina Chinese automotive supplier picks Davie County, N.C. Shanghai Baolong Automotive will invest over $15 million in a new plant in Mocksville, N.C. The new plant will house 80 workers. The Chinese manufacturer will produce air spring assemblies and air supply units for the automotive industry. South Carolina BMW to assemble new electric SUV in South Carolina German automaker BMW announced in the summer quarter it will begin production of electric vehicles at its Spartanburg plant by the end of the year. This expansion is being announced as Southerners survey the partial collapse of the EV market in the Southern Automotive Corridor over the last two years. The iX5, an electric take on the popular mid-sized X5

gas SUV, will be the first electric model that BMW will assemble at the sprawling South Carolina assembly plant. BMW, like its German cousin Mercedes-Benz with its factory in Alabama, exports more than half of its SUVs made in the South. This project will enable BMW to benefit from strong demand for electric vehicles in Europe, where they account for 20 percent of all new vehicle sales. Te n n e s s e e Ford ends BlueOval City joint venture in West Tennessee; SK takes control of battery plant; Ford will build gas trucks there According to the Memphis Flyer, SK On, a South Korean EV battery maker, took full ownership of the battery plant at BlueOval City in Stanton, Tenn., in the summer quarter. The space encompasses 4 million square feet. The new company is named SK On Tennessee, and will maintain a “strategic partnership” with Ford according to the Flyer. In a related matter, a Ford subsidiary took full ownership of two Kentucky battery plants in Glendale, Ky., in the split with SK. There, Ford is retooling those battery plants for energy storage as opposed to EV batteries. Also related to the site in Tennessee, Ford had initially planned to build an EV version of its popular Ford 150 pickup there. That is scrapped for now. Ford will now make a gas version of the pickup at the 6-square-mile BlueOval City campus in Stanton, which is located adjacent to SK’s battery plant.

Ford is going nowhere in West Tennessee We have all read about the setbacks at Ford Motor Company’s BlueOval City project in Stanton, Tenn. Join the club; about half of the hundreds of billions spent in EV facilities in the Southern Automotive Corridor between 2021 and 2024 are not operational as of yet. But when there is a quarter trillion on the line, in time, they will be. Volkswagen to end EV production in Chattanooga VW is the latest automaker to scale back electric vehicle production in favor of combustible engine models. In April, the German automaker reported it would stop producing electric cars at its Tennessee factory immediately, paving the way for more output of large, gas-powered SUVs. During this administration, tax credits for electric cars were eliminated and EV sales plummeted. GM, Ford, Stellantis and Honda have all scaled back EV production as half of the $250 billion in EV-related projects announced in the Southern Automotive Corridor from 2021 to 2024 have been delayed, canceled or altered the use of the facilities, most of which are already built. Te x a s Toyota announces $3.6 billion expansion, 2,000 new jobs in San Antonio Japanese automaker Toyota North America (TMNA) announced in July it will invest $3.6 billion to expand its San Antonio manufacturing campus with a second vehicle assembly line to support the Tacoma truck model. The expansion will create 2,000 new jobs and add 2.5 million

Mitsubishi Motors announced plans to use the Port of Freeport in Texas as a new distribution gateway. square feet to Toyota Texas, doubling its size by 2030. TMNA will transition Tacoma production from Toyota Manufacturing Baja California (Mexico) to the expanded Texas plant over a four-year period. The latest investment will add another assembly line to the campus at Toyota Texas, which already includes a vehicle assembly line for the Tundra model pickup and a new rear axle plant that is nearing startup. Toyota Financial Services expands headquarters in Frisco, Texas Toyota Financial Services began moving into a newly constructed 242,000-squarefoot, seven-story building at its headquarters campus in Frisco. The new headquarters campus can accommodate 1,000 additional workers. Toyota operates its North American headquarters in nearby Plano, Texas. Seguin makes headlines A major investment is headed to Seguin, located on the outskirts of San Antonio. H-One announced in July it will expand its North American subsidiary, KTH Texas, by investing $100 million in a 300,000-square-foot facility in Seguin. The company will install three automat-

ed press lines, including a 3,500-ton press, to produce ultra-high-strength steel and aluminum components used in next-generation vehicles. The deal will create 173 jobs. Port of Freeport captures Mitsubishi import facility The Port of Freeport is positioning itself as one of the fastest growing automotive gateways in the U.S. after Mitsubishi Motors announced plans in July to use the port as a new distribution gateway. Baltimore and Jacksonville, Fla., are the other two ports that the Japanese automaker uses to import its cars. Tesla leases Austin’s largest ever spec industrial building Elon Musk’s Tesla is expanding again in Austin. Seriously, Musk does about 10 to 12 deals a quarter in the Texas capital region, and has for three quarters now. And none of them are cheap. This latest project has Tesla leasing a 682,000-square-foot building in the Austin Hills Commerce Center. Musk and his companies now lease 2.2 million square feet of space, and own over 10 million square feet of space. And that does not include Musk’s proposed $55 billion Terafab semiconductor project in nearby Bastrop.

French auto components manufacturer to build in McAllen, Texas Valeo is investing $225 million in the border city of McAllen to build an auto parts plant. The company makes parts for GM and other automakers. The project is expected to create 500 jobs. Virginia Korean manufacturer announces in Henry County Fukoku Korea announced plans to invest $18.9 million to establish a new manufacturing plant in Henry County, which will create 60 new jobs. Operating out of the Patriot Centre Industrial Park, the South Korea-based company will use the facility to manufacture rubber damper pulleys for automotive engines and thermal gap fillers for electric vehicle batteries. Founded in 1987, Fukoku Korea is a global manufacturer of specialized automotive components, focusing on rubber-based products and engine parts designed to reduce noise and vibration. Fukoku supplies products for major automakers including Hyundai, GM and Ford. J SUMMER 2026 SB&D 59

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hen I started reporting exclusively on the South’s economic development scene in the early 1990s, law firms were considered a necessity in just a handful of ways in the industrial site selection process. Back then, they helped structure financing, including tax incentives, and grants for businesses. Of course, some economic developers and their prospects didn’t have lawyers involved until the final stages of a project. You brought in lawyers during and after the deal was done; an afterthought for the creators of the deal who had completed their parts. They simply prayed the deal was legal; sometimes it wasn’t.

THE EVOLUTION OF ECONOMIC DEVELOPMENT LAW BY MICHAEL RANDLE

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Those were the cowboy days of economic development and I remember them well. I recall one community bypassing a wetlands assessment by simply renting a backhoe. The backhoe was much cheaper to fill that particular wetland than the assessment. Those days are gone and many law firms that specialize in economic development have set the bar for a new, highly professional site selection process. In fact, I have been at more than a few rural deals hammered out with a handshake and nothing else until the “work was done.” For example, I was at the The Deery Inn in Blountsville, Tenn., one night in the very early 1990s. There was a Japanese prospect and his translator, the economic developer, two members from his board, the mayor and me. The deal was done over big steaks and beers. That was then. Today is different: “Economic development today is no longer just about landing a project and figuring out the legal structure afterward. The most successful communities are thinking holistically from the start, aligning incentives, infrastructure, workforce, revitalization, public-private partnerships and long-term community priorities in a way that creates durable growth,” said Britton Bonner, Partner

and Executive Committee Member at Adams & Reese. “Across the Southeast, we are seeing projects that require not only significant capital investment, but also close coordination among businesses, local governments, universities, agencies and community stakeholders. That is where law firms with deep experience at the intersection of business and government can add real value: helping clients navigate complexity, build consensus, and turn economic opportunity into lasting impact,” said Bonner. Foreign investment spikes in the South in the 1990s and first decade of the 2000s By the early 1990s, foreign direct investment in the South began to increase at levels never before seen, especially with foreign automakers and their boatloads of suppliers. The South was used to Northern companies doing business. It all started with textiles, apparel, chicken plants, and later, the technology of call centers and their amazingly low “long-distance rates.” That was then, too. Economic development from cowboys to lawyers German companies, such as BMW and Mercedes-Benz, had already made their mark with super-premiere, first-time U.S. plant announcements in South Carolina (1992) and Alabama (1993). Many from Japan and Korea would soon follow, as the Japanese already had plants in Kentucky and Tennessee, but those were considered, at the time, “one-offs.” It wasn’t a one-off to our good friend Dennis Cuneo, the site selection boss for Toyota back in the day. In fact, going back to Toyota’s investments post-Georgetown, Ky., in the 1980s (Toyota’s largest worldwide plant), it was the great Dennis Cuneo of Toyota who sited plants in the Southern Auto Corridor. Cuneo helped establish plants from San Antonio, through the Tupelo region, to Jackson, Tenn., to North Carolina to Huntsville and West Virginia. In fact, Cuneo and then North Carolina

Secretary of Commerce Jim Fain walked the site in Liberty County, N.C., almost 25 years ago. (Toyota just opened its battery plant there last quarter.)

attacking our largest industries, employers and infrastructure. “Move them to the South; no one will notice them down there.”

Dennis oversaw some plants built in Canada and the Midwest, as well as Mexico, but Cuneo’s obvious choice was clear: he loved doing business with Southerners, as he was a lawyer in D.C.

The initial connection — whether from an advertisement, trade show, site visit or even better, thousands of advertisements — was directed at those with their site hats on.

Mercedes and BMW “sophisticated” the practice of economic development in the South

The economic developer worked with the client and in most cases back then, a site consultant hired by the prospect. Few economic developers tipped their hands to site consultants until they had to.

If anything, the two prestigious announcements made four decades ago by the Germans made the world’s business community stand at supreme attention and notice that the South would be on the cusp of a globalization of its economy, something never seen in U.S. history, or at least since Chicago and New York dominated the economies of North America. That’s when the law firm community in the South saw an opportunity it had never been able to access, mainly because the practice of economic development was such a tiny little world. During those days, law firms would not know the complete practice of economic development if it bit them on the knee. Today, they are the go-to experts, at least this bunch here that we have chosen for “The South’s Best Economic Development Law Firms.” (See page 64.) Back then you had firm and consistent members and their specific duties during the site selection process. First you had the prospect or client, which would be an expanding company. In the South, in the beginning, most of those were from up North, which started before, during and after World War II. The Fantus Company was tasked with the relocation of all kinds of industry from Chicago, New York and Boston back in the day. The fear was that too much industry was concentrated in too few places. So the government was convinced to transfer plants to the South to keep the Germans and Japanese from

Trade allies such as contractors, engineers and utilities had their set roles. And finally, law firms helped put it all together on legal paper, whether it be the wrap up of incentives, advising on environmental matters and, with foreign companies, immigration matters. That was still “back then.” Law firm representatives would include attorneys, CPAs, lobbyists, public affairs professionals and paralegals. But there were no economic developers — those certified with years of recruiting and bird-dogging experience. Or, in a phrase, “Yankee Factory Hounds.” Things have certainly changed Today, law firms are spinning off economic development consulting firms and doing their own prospecting with their own generated corporate decision makers all over the world. They are hiring seasoned and certified economic development recruiters to direct their own “big buffalo hunts.” Not long ago, I guess no more than 20 years, I was blown away by law firms hiring true winners, pure industry recruiters, some with great success in the site selection game. I even said to one law firm executive, “What, you are hiring Simmons? Why? He is not a lawyer. The only way that happens is you want to dig up your own deals. Is that true?” Today, you can hire a law firm that features creative and flexible fees (not “by SUMMER 2026 SB&D 63

the hour”) for multidisciplinary approaches that span the entire length of a corporate site search — from first contact, to real estate, tax, environmental and government relations to construction. That would include permitting, financing, equipment acquisition, site acquisition, construction, off-site improvements and collaborating with utilities and local and state agencies. Several law firms now employ chief and senior-level economists. They don’t just contract with economists today. They employ them in addition to professional economic developers. That is now. What I said to an international media property more than 15 years ago I was even quoted at length by one overseas media property in 2009: “Back in the day, the practice of economic development was not even close to being as sophisticated as it is now. Today, the site consultant community has become as professional as can be. This is further supported by law firms and their increased involvement in the site selection process. “Other than wrapping all the paper work up on a deal, law firms knew little about the recruiting process. Much of that happened through advertising directly to the prospect, the client getting on the phone as a result of the response to that ad, or this or that rote exercise of going to this trade show or that conference. “And of course, joint, regional or statewide recruiting trips originating from the South to foreign nations began in earnest in the early 1990s to 2000s after a small bit of it in the '80s. “Law firms simply did not know the ins and outs that site consultants knew. I mean, that is just how it was. Law firms didn’t have the experience of walking hundreds if not thousands of sites. Economic development then was more of a golf/lunch, golf/dinner at the country club and then an agreement. 64 SB&D SUMMER 2026

“It was more about, ‘What do we do now that we got that deal and who is going to help us get there?’

about $1.3 billion combined. Now, we are seeing $50 billion data centers and $55 billion semiconductor fabs.

“Compared to today’s law firm intervention of ‘all things in a deal,’ the practice has eliminated a lot of always working from behind after capturing a big buffalo. Law firms now are ahead from the start.”

A huge change in big buffalo projects in the South in 2025

I made those statements shortly after learning about law firms spinning off economic development departments and their own advisory firms. After all, most site consultants today put years into economic development for a public service, whether with the state, a utility or a locale, before they became site consultants; unless they worked for an engineering firm like Fluor Daniel, for example. Two perfect examples of working with governments and then starting their own site consulting firms are the late Bob Goforth and Bob Leak, Sr., of the Carolinas. They worked at the local and state levels before they perfected their own site consultant firm, Leak and Goforth. Law firm client demand has spiked In a report by Best Lawyers, the third quarter 2025 Law Firm Index, Thomson Reuters found that client demand spiked for one of the best quarters of growth in the 21st century. Part of the article read, “Q3 2025 reflects sustained and robust client activity, signifying genuine expansion beyond merely returning to a baseline pre-pandemic level.” Then again, we have never seen the level of investment going on today in data centers and A.I., and most of those are in the South. Hundreds of billions are being spent, and the total in two years has exceeded the string of $250 billion invested in the Southern Automotive Corridor from 2021 to 2024 on electric vehicles and batteries. Think about that. We went gaga when we saw a single $5 billion EV “supplier deal” in Georgia just three years ago. Really? Back in the day, Mercedes and BMW’s initial investments totaled

To give you an idea of how the U.S. economy has changed in terms of “normal economic development activity” in the South, look at the following lists. The first is a normal economic development year of project captures in the South from 1993 to 2024 that announced deals that met or exceeded 200 jobs and/or $30 million in investment. They have been averaged out over 30 years. For over 30 years, automotive and financial services have been the bedrock in the South’s job and investment generation each year. Not in 2025. (See the chart on page 74) This is a typical industry sector year of deals announced in the South of 200 jobs and/or $30 million in investment or more averaged out since 1993 Top 10 Industry Sectors Average Yearly Deals from 1993 to 2024 Automotive 89 Financial Services 66 Call Centers 58 Distribution 55 Health Care 51 Food & Beverage 44 Petrochemicals 37 Aviation/Aerospace 27 Renewable Energy 27 Headquarters 23 Pharmaceuticals 11 Data Centers 1.8 *Non-aerospace defense projects Big change of the guard in 2025 Now, this is what happened in the South, the world’s third largest economy in calendar year 2025 using the same thresholds. It has continued even stronger in 2026, as the South set a record of 394 deals in the first half (see “SouthBound” in this issue). CONTINUED

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best

ECONOMIC DEVELOPMENT LAW FIRMS

C. Britton Bonner Adams and Reese RSA Battle House Tower 11 North Water Street, Suite 2300 Mobile, AL 36602 251.433.3234 britton.bonner@arlaw.com www.adamsandreese.com

Christopher R. Grissom Bradley Arant Boult Cummings LLP One Federal Place 1819 Fifth Avenue North Birmingham, AL 35203 205.521.8000 cgrissom@bradley.com www.bradley.com

Sherry Vance Allen Butler Snow Robert M. Holland 1819 Fifth Avenue North, Suite 1000 Birmingham, AL 35203 601.948.5711 sherry.vanceallen@butlersnow.com www.butlersnow.com

Will Johnson Haynsworth Sinkler Boyd, P.A. 1201 Main Street, 22nd Floor Columbia, SC 29201 803.779.3080 wjohnson@hsblawfirm.com www.hsblawfirm.com 66 SB&D SUMMER 2026

Tommy J. Kurtz Jones Walker - Avident Advisers 201 St. Charles Ave, Ste 5100 New Orleans, LA 70170 504.582.8371 tkurtz@avidentadvisors.com www.joneswalker.com

Christopher C. Lloyd McGuireWoods Consulting LLC McGuire Woods LLC 800 East Canal Street Richmond, VA 23219 804.775.1902 clloyd@mwcllc.com www.mwcllc.com

This is a list of the top industry sector deals announced in the South from January 1 to December 31, 2025, meeting or exceeding 200 jobs and/or $30 million in investment Data Centers/A.I. Aerospace 46 Metals 37 Health Care 37 Pharmaceuticals 34 Automotive 28 Financial Services 16 Electronics/Chips Defense* 14 Mining 14 Food & Beverage 11 Renewable Energy 7 Distribution 6 Call Centers 5

*Non-aerospace defense projects That’s now. The data center craze (and it is crazy) Note that data centers averaged less than two deals a year from 1993 to 2024 in the South, and most of those were announced in Virginia.

Tom Harrold Miller & Martin Regions Plaza 1180 West Peachtree Street NW Suite 2100 Atlanta, GA 30309-3407 404.962.6402 tom.harrold@millermartin.com www.millermartin.com

It should also be noted that Pat Gelsinger, CEO of Intel, predicted that up to 1,400 data centers worldwide are expected in a backlog that could last 30 years to resolve. At $8 billion a center on average today, that is $112 trillion in investments by one industry, a total that is more than triple the U.S. GDP last year. I find that hard to believe. But you can bet law firms are all over these data centers

Sam Moses Parker Poe Adams & Bernstein LLP 620 South Tryon Street Suite 800 Charlotte, NC 28202 704.372.9000 sammoses@parkerpoe.com www.parkerpoe.com

So, not everyone, including me, is sold on A.I. in general. While traditional industries like automotive and financial services have fallen off their normal 30-plus-a-year deal averages (some by 70 percent last year), it is tough to count on one industry supporting 80 percent of the U.S. economy. That has never been done and it’s pretty scary.

Economic development projects have become increasingly complex, requiring sophisticated planning, strategic coordination among stakeholders, and a deep understanding of regulatory, infrastructure, financing and community considerations.

One really smart dude, Mark Vitner, the former senior economist at Wells Fargo and now chief economist at Piedmont Crescent Capital of Charlotte, believes the exact opposite. He makes a great point: “Economic development has flipped the script, almost as abruptly as RFK Jr. flipped the food pyramid. After decades of engineering the economy for sugar highs, this cycle is being built on protein — capital spending directed toward long-cycle assets such as data centers, energy infrastructure, pharmaceuticals, and aerospace and defense. These sectors are capital-intensive by design: enormous dollar investments, relatively modest job creation, and outsized gains in productive capacity. “The result is an economy increasingly driven by productivity rather than headcount — one capable of sustaining growth near 3 percent this year even as inflation continues to decelerate toward the Fed’s 2 percent target.” (Before the war started back again.) “By contrast, consumer-oriented investment has shifted into the slow lane, as capital gravitates toward higher-productivity, higher-return activities.” – Mark Vitner, Chief Economist, Piedmont Crescent Capital If the first two quarters are any indication, Vitner is correct (see SouthBound column in this issue). Again, the first half of 2026 saw 394 projects meet or exceed our thresholds. That is the most ever in any first half since 1993. That was after the worst first half in 2025, where only 119 projects were announced. So, law firms are quite busy today. In this section, you will find listings of what we think are the finest economic development law firms practicing in the 13-state American South. I hope this directory helps you find a place to plant your flag in the South, the world’s third largest economy. J

From advanced manufacturing facilities and industrial developments to energy investments, logistics hubs, mixed-use projects, technology infrastructure and other transformational initiatives, successful projects require advisors who understand how business objectives and public-sector priorities intersect. For decades, Butler Snow has served as a trusted advisor to companies, developers, investors, utilities, governmental entities and economic development organizations pursuing projects that drive job creation, capital investment and long-term economic growth. The firm’s Economic Development Team helps clients navigate every stage of the development process, from site selection and incentive negotiations to project implementation and ongoing operations. With more than 400 attorneys and advisors across a national platform, Butler Snow brings together a multidisciplinary team capable of guiding projects from initial concept through financing, development, construction and long-term success. The firm’s experience spans a broad range of industries and project types, including automotive and advanced manufacturing, energy and infrastructure, transportation and logistics, healthcare, technology, mixed-use development and large-scale industrial investments throughout the Southeast and beyond. Butler Snow distinguishes itself through its ability to provide comprehensive support throughout the project lifecycle. The firm advises clients on site selection, infrastructure planning, environmental permitting, tax strategy, workforce development initiatives, governmental relations, public-private partnerships and the structuring of state and local incentive packages. Attorneys regularly assist clients in navigating complex regulatory frameworks, coordinating with utilities and governmental agencies and aligning project objectives with community and economic development goals. The firm’s attorneys have extensive experience structuring incentive packages that may include tax abatements, tax credits, industrial revenue bond financing, grants, workforce training programs and infrastructure improvements. This practical knowledge enables Butler Snow to help clients maximize available opportunities while balancing business objectives, community priorities and long-term project sustainability. A significant strength of the practice is the firm’s deep understanding of the public-sector perspective. Butler Snow’s team includes attorneys who have held leadership roles within state and local economic development organizations, public finance agencies and utility-related development initiatives. This experience provides valuable insight into how investment decisions are evaluated, how public-private partnerships are structured, and how communities assess the long-term benefits of major development projects. In addition to representing private industry, Butler Snow frequently advises governmental entities, development authorities, utilities and economic development organizations. These longstanding relationships provide the firm with a unique understanding of the collaboration necessary to move complex projects forward. The firm’s strong connections with governmental, legislative, civic and business leaders throughout the Southeast further enhance its ability to help clients identify opportunities, address challenges and maintain project momentum. As competition for investment continues to intensify, companies and communities alike seek advisors capable of aligning economic opportunity with strategic growth objectives. Butler Snow’s combination of legal depth, industry knowledge, public-sector experience and economic development expertise positions the firm to help clients attract investment, create jobs, strengthen communities and generate lasting economic impact throughout the Southeast and beyond. SUMMER 2026 SB&D 67

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Wages, Riches Pitchforks

2026

By Michael Randle

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thought long and hard about the subject for this article, my last printed feature article after 44 years of publishing both newspapers and magazines during that time — specifically, the Birmingham Business Journal and Southern Business & Development. For these last pages before we go completely digital with the new SouthernBusiness.com, well, let’s just take a look at the economy today. Maybe that is where my last words on a printed page should focus. So, here we go. In the winter of 2016, I wrote an article titled “Wages, Riches and Pitchforks.” Of all the articles I have written — there have been thousands — that cover story saw more visitors online than any I have authored. In 2015 and 2016, the South captured the best two years in economic development history, counting total projects announced meeting or exceeding our thresholds of 200 jobs and/or $30 million in investment as an indicator of a sound economy. SB&D bases its view of the economy in direct relationship with project activity in the 13-state American South. A rise in total projects always occurs during good economic times. A drop is clearly identifiable with each recession we have experienced since 1993, as seen in the graphic on the opposite page. However, not every outstanding economic development year means all three classes — the poor, the middle class and the affluent — are doing well at the same time. In fact, seeing a year when all three classes are “winning,” with added jobs, higher pay and greater opportunities for all, is rare indeed. The year 1997 was one of those across-the-board beneficiary years. By then, low-wage manufacturers in the South were making beelines to China, paying even lower wages to make their products. Those lost jobs were replaced with higher paying ones in financial services, along with a new string of high paying automotive manufacturing jobs as the Southern Automotive Corridor was being formed with new plants from Mercedes-Benz, BMW, Honda, Toyota, Nissan and later, Hyundai. This is what free trade was intended to do back then. The American South was the choice for foreign automakers and Detroit was not. The late 1990s was also the time of the invention and widespread use of the internet, and not unlike today’s A.I. world, saw worker productivity rise to significant levels. Later, 2008 and 2009 were awful years for both economic development project activity and the overall economy. That was the height of the Great Recession. By 2014, 2015 and 2016, “Big Buffalo” deals were back in huge numbers. In fact, 2015 and 2016 saw the highest two years in 70 SB&D SUMMER 2026

large projects announced, an average of 713 projects each year. The 33-year average of projects announced meeting our thresholds in the annual SB&D 100 is 541 deals per year. Great Recession years — 2008 and 2009 — saw an average of 398 projects. The worst year of all in the last 33 years was 2021, the year after the COVID pandemic. So, there isn’t any question that deal activity has a strong link to the overall health of an economy.

Not everyone was benefiting from the best two years in SB&D history — 2015 and 2016 In the summer of 2014, the U.S. Conference of Mayors, The Council on Metro Economies and the website New American City published a report that showed new jobs created since the end of the Great Recession paid 23 percent less than the jobs they replaced. The publishers used data from IHS Global Insight that also showed the average annual wage in the sectors that lost the most jobs in the Great Recession — manufacturing and construction — was $61,637. The average wage of the new jobs that were gained — mostly in lodging, retail, health care and social assistance — was $47,171 in 2012 and 2013. According to IHS, the 23 percent wage gap following the Great Recession was nearly double that of the recession of 2001-2002, when there was a 12 percent loss in annual earnings during the first few years of that recovery. But the surge in deals in 2015 and 2016 improved those numbers. By January of 2016, when I wrote the first “Wages, Riches and Pitchforks” cover story, wages saw real gains with a half-percentage-point gain in average hourly earnings in one month at the beginning of 2016. That month saw the largest gain in real wages in more than a decade and it started a year-long gain that was the highest since the recovery began in 2010. So, as for a two-year period where all classes were benefiting across the board, 2015 and 2016 are right up there compared to 25 years before and 10 years after.

Wages Again, everyone understands wages. Wages are what make the world go around, even a dollar-an-hour wage in an undeveloped country as one meal might cost just half that. Once, a reporter from Nashville’s The Tennessean asked me (seriously), “Has Tennessee gotten a good deal with the incentives it has paid Nissan?” I really had a hard time controlling my voice on the phone. I wanted to scream, “That is a clown question, bro.”

Not every outstanding economic development year means all three classes — the poor, the middle class and the affluent — are doing well at the same time.

So, I explained it to him this way: “Okay, since Nissan employs about 20,000 people in Tennessee, at its plant in Smyrna, its North American headquarters south of Nashville, its engine plant in Winchester and other locations in the state, get your calculator out, son.” Reporter: “But the incentives paid to Nissan by the state of Tennessee have been huge over the years.” Then I said, “Multiply 20,000 by an average wage of $75,000 a year times 43 years,” or since the Nissan plant has been producing cars in the Nashville suburb of Rutherford County. (In 2005, Nissan moved its North American headquarters nearby.) The cub reporter said after his math work was done, “There are too many zeroes on the screen of my calculator. I can’t see them all.” I said, “There is the answer to your question of whether or not Nissan has been good for Tennessee; too many zeroes to count in wages paid.” So, politicos, economic developers. . .generally, all leaders of government. . .need to convey to skeptics what wages do, how they contribute to the economy and why they are supremely important. I have taken many others who work for different media properties to the parking lot of a plant or office. I say, for example, “See that building, Jack? In that structure, about $40 million is paid to its workers every year. That is $40 million that is spent here locally, the area you report on.” Reporter: “What? Two hundred million a year? There?” Me: “Yes, and it is spent on all kinds of things in your community, like home sales, dining, gas stations, furniture shops, rents and so much more. The taxes off those wages build new schools, libraries and new and improved roads.” Reporter: “I had no idea. Now I get it. It is the wages, isn’t it?” Me: “Yup, economic development centers on the wages.”

Best Years

Total Projects

2016

695

2015 2017 2014 1997 2023

Worst Years 2021

2009

2002

2008

2001

2025

730 680 668 636 614

Total Projects

364

367

409

429

447

496

Today’s wages

While job quit rates were very high in 2015 and 2016, when across-the-board gains were easily determined, they are not today. Those were two outstanding deal years. Better jobs were plentiful. More ways to move up the ladder. The quit rate indicates a rise in wages, as people quit jobs for higher paying ones and those entering the workforce replace them on all corners. That was happening 10 years ago.

SB&D 100 Projects

Today, quit rates are almost impossible to find, leaving new college grads on the sidelines even with many Baby Boomers aging out of the job market but continuing to work. Baby Boomers in many cases today don’t quit at age 65. CONTINUED

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Overcoming Obstacles In Alabama, “43 percent of working-age adults are on the sidelines. . .many because of barriers — i.e. lack of affordable/available childcare; lack of available transportation; inadequate funds to get proper skill training and other things. – Neal Wade

Neal Wade (top photo) said about Ed Castile (lower photo): “Ed’s team has been working on the transportation issue with notable successes in several cities. The Foundation I chair that was spun out of the community college system is totally focused on addressing these barriers. Our main efforts have been scholarships and childcare capacity. We’re helping build new childcare facilities across the state to take advantage of the childcare tax credit that was passed by the Legislature two years ago.” 72 SB&D SUMMER 2026

Delayed retirements

The average Baby Boomer may not quit working today until the age of 75. They continue to work, often for financial reasons. Late last year, quit rates dropped to the lowest level since August of 2020, at the height of the pandemic. There are obvious reasons behind the current low quit rate: (1) The war with Iran. (2) The implementation of tariffs in 2025, and their changing rates. (3) Inflation that is seriously high. (4) Gas prices alone. In uncertain times, specifically difficult periods of inequality in income, the labor force turnover is naturally subdued. While the unemployment rate remains around 4 percent and will continue at about that rate this year and next, according to KPMG’s biannual 2026 outlook, job generation has not been robust. It has stabilized though, after a rough 2025. It is not as much about job creation as much as real wage gains, since there are not enough people out of work to create gobs of jobs even if they were available. If someone told me 20 years ago that we could create only 50,000 jobs and maintain full employment, I would have thought they were nuts. Not now. And those entering the workforce today are a trickle compared to recent decades. For example, today, we have one fifth of kids turning working age (16) compared to 40 years ago. We predicted a reduction in job gains back in 2010, when demography data showed very low birth rates and Baby Boomers aging out. Throw in mass deportations and curbs on immigration, and there are just not a lot of workers seeking jobs in the U.S. So, where can we find the people who need jobs? How do we maximize employment in an age when the labor shed is thinner and smaller than ever before? I asked veteran economic development recruiter and policy maker Neal Wade that question on a Saturday morning in mid-June. Neal headed up economic development in Alabama and Florida for decades and continues practicing his remarkable craft in a variety of ways in Alabama. Neal said, “Mike, in Alabama, the unemployment rate is around 4.3 percent, which ONLY includes those who have looked for a job in the past six months. The most important figure is the state’s labor force participation rate, which, in Alabama, is about 57 percent. That means 43 percent of working-age adults are on the sidelines for the reasons you outlined.” One of my questions to Neal was, “Of the folks who are out of work, but technically can work, how many are college students, family caretakers, the addicted and mentally ill, and the physically disabled? Why isn’t there data breaking down exactly who on the sidelines can work and who cannot work?”

Wade continued, “Many are sidelined because of barriers — i.e. lack of affordable/available childcare; lack of available transportation; inadequate funds to get proper skill training and other things. Many of the 43 percent won’t work period, but there is a sizable number who would like to work if certain barriers were erased.” During that Saturday conversation, I brought Ed Castile into the discussion. Ed has recently retired as the head of Alabama Industrial Development Training. He set up the workforce training model for the state of Alabama. (Both did a presentation at SEDR@RosemaryBeach in December that was so wonderful and informative it was nothing less than astounding.) Neal said this about Ed: “Ed’s team has been working on the transportation issue with notable successes in several cities. The Foundation I chair that was spun out of the community college system [Paths for Success Foundation] is totally focused on addressing these barriers. Our main efforts have been scholarships and childcare capacity. We’re helping build new childcare facilities across the state to take advantage of the childcare tax credit that was passed by the Legislature two years ago. The problem is, without childcare seats, the tax credits do not help. We’re making strides.” Ed Castile added, “This is a difficult topic and, in a way, you are both somewhat right. Michael, in Alabama, I think that data you are asking for is in the new Department of Workforce. They are actually using a longitudinal data system and all the agencies involved, including DHR, ADRS, Mental Health, etc., contribute to the system. This should be where the data is. Another source is University of Alabama’s Dr. Sam Addy, who is an economist and focuses much of his efforts in rural Alabama. My wife Nancy works for him and assists with accumulating much of the rural data.” Neal added this as we finished up the conversation: “Scholarships are booming and they are only available to low and low-moderate income students. The testimonies from these students will tug at your heart. “Clarksville, Tenn., is a wonderful model of how industrial park tenants came together to build a childcare facility for 800 children. U.S. Sen. Katie Britt has sponsored Federal legislation to help with the childcare desert,” Wade said. Wade continued, “Our Foundation has partnered with a modular builder to construct childcare facilities with the first one completed in, of all places, Aliceville, Ala.” He concluded, “Of the 43 percent on the sidelines, I am convinced we could make a major dent in those companies looking for workers by getting many of them off the sidelines. It’s a noble effort and both of us (Castile) have made strides to address the barriers. It has become a passion of mine.” CONTINUED

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Riches The A.I. boom is still gaining momentum. In fact, many of the projects announced last year and so far this year are literally “out of this world.” Below are some projects announced in May and early June, much of which are happening in Texas, and in one market in particular — Austin. This data center, A.I. and aerospace boom is not waning, yet. Historically, automotive has led all other industry sectors in big deals in the South for 32 of the 34-year history of the SB&D 100. One year in the 1990s, call centers beat out automotive. The second year that automotive was beaten was last year, when data centers totaled 78 huge projects. That data center run has continued into 2026.

Musk expanding near Austin with Optimus 4 robot project Elon Musk is expanding his Gigi Texas plant, where Tesla EVs are made, to produce up to 10 million humanoid robots a year in the Austin area. His factory in Freemont, Calif., is targeting 1 million robot units per year in 2026, and the Texas factory is slated for 10 million a year in 2027. The robots are being designed to redefine manufacturing, labor and even the entire U.S. economy. They are not simply factory drones. Musk envisions a general-purpose robot that learns like a human. Musk has been quoted saying that Optimus will “significantly impact U.S. GDP,” calling it “10 times bigger than the next biggest product ever,” such as the iPhone. He sees it solving the $38 trillion U.S. debt via deflationary abundance and easing poverty with endless labor. Construction and worker training has already started on the line that will produce the Optimus 4 robot. 74 SB&D SUMMER 2026

More insight from SEDR resident economist, Mark Vitner SEDR@RosemaryBeach’s resident economist, Mark Vitner, who is chief economist at Piedmont Crescent Capital (Charlotte) and former senior economist at Wells Fargo, wrote to me in June, “To infinity and beyond! Mike, you’ve got to love the new Space Age. While its roots stretch across the country, much of today’s momentum is being driven from the South.” Mark continued, “From rocket launches on Florida’s Space Coast and the Texas Gulf Coast, to advanced manufacturing, aerospace engineering, and research hubs across the South like Huntsville, the region is playing a leading role in humanity’s next great frontier. The South helped power the industrial age, transformed transportation, and is now helping launch

WHOA! SpaceX looking at Grimes County, Texas for $55 billion plant (that is with a “B”) SpaceX is proposing a semiconductor manufacturing and advanced computing facility where a coal-fired power plant once operated in the rural town of Gibbons Creek Reservoir, Texas. Called the Terafab project, a public hearing notice in May estimated capital investment in the initial phases at $55 billion. The site of the former power plant already has major energy transmission access and a history of large-scale energy use. Grimes County is located near College Station, Texas. SpaceX announces large expansion in Bastrop County, Texas Equipment installation is well underway at SpaceX’s $280 million expansion near Austin in Bastrop County. The deal is part of the company’s broader A.I. and semiconductor ambitions. The expansion will add about 1 million square feet of space on the site, enabling in-house production of packaged silicon and Starlink hardware. The new facility will house about 400 workers.

Blue Origin focuses on big deal in Williamson County, Texas In May, state and regional economic development agencies issued a request for information (RFI) on behalf of Jeff Bezos’ Blue Origin space company. Sites within 15 miles of Interstate 35 in the Austin metro area in Williamson County are being assessed. The project is expected to be valued at about $1 billion with as many as 2,200 jobs created. The area is viewed as a “space corridor” with Firefly Aerospace, National Aero Stands and Valken Industries in operation there. Blue Origin also operates Launch Site One near Van Horn, Texas, 120 miles from El Paso. Since 2015, that site has launched 36 flights of the New Shepard rocket. It should be noted that one of Blue Origin’s largest rockets blew up in a test at Cape Canaveral on Florida’s Space Coast in May, obviously forcing the company into somewhat of a retreat for the time being. And this A.I. supplier surge is not just happening in Texas

the next chapter of exploration and innovation. The future is looking up.” Vitner has been bullish on the economy of late. Under President’s Trump second term, construction investments have skyrocketed, as well as construction employment. This has surpassed by a wide margin the run of electric vehicle projects from 2021 to 2024, which was a huge surge, even though only about half of those investments have panned out. Another huge construction event is barely noticed today. Back in the 2000s and 2010s, LNG projects were proposed and built. Other massive petrochemical facilities had to supply them and other industries with “stock.” That was Louisiana and Texas’ massive increase in construction employment. These LNG projects just 15 to 20 years ago were massive. Some

NVIDIA and Corning announce huge deals in North Carolina and Texas In May, Corning and NVIDIA revealed plans to build three new manufacturing plants in North Carolina and Texas with the creation of more than 3,000 new jobs in the two states. The plants will produce advanced optical connectivity solutions needed to power next-generation A.I. infrastructure. Corning will expand optical connectivity manufacturing by 10 times and fiber production capacity by 50 percent, due almost exclusively to A.I. factory buildouts. Corning’s increased capacity will supply NVIDIA's hyperscale data centers. In the press release, Jensen Huang, founder of NVIDIA, said, “A.I. is driving the largest infrastructure buildout of our time and once-in-a-generation opportunity to reinvigorate American manufacturing and supply chains.” Wendell P. Weeks, CEO of Corning, said, “What NVIDIA is doing is nothing short of extraordinary, not just for the future of artificial intelligence, but for the American advanced manufacturing workforce. The partnership is proof that A.I. is not

are still in the works and some are under construction today. For example, George Swift, who had to be the generator of the highest value deals in American economic development history beginning less than 20 years ago, once told me, “Mike, there are so many major projects in Southwest Louisiana (so, too, in Corpus Christi, Houston and Southeast Louisiana) that we cannot even send a press release to you if it is less than a $2 billion investment."

Other major capital investment transitional and transformation periods So, like other transitional periods like the boom and bust of the internet in the late 1990s, the EV scale-up, the financial and housing crisis from 2007-2009, and now the data center

just a technology story. It is a manufacturing story and it is happening here in the United States.” Blue Origin announces major Florida expansion In late May, Blue Origin announced the expansion of its rocket park campus at the Cape Canaveral Spaceport. The $600 million capital investment on Florida’s Space Coast will include an 830,000-square-foot upper stage manufacturing facility. Called “Project Horizon,” the deal “is the latest and most ambitious chapter in Blue Origin’s decade-long commitment to Florida,” said Dave Limp, CEO of Blue Origin. “Since 2015, we’ve scaled to nearly 4,000 employees, invested more than $2.3 billion across 500 Florida suppliers, and expanded to 11 sites across Brevard and Orange Counties. And we’re just getting started.” The latest expansion will create 500 jobs averaging about $100,000 in annual pay per job. Huge radiopharmaceutical hub announced in Tampa Bay A coalition led by Speros and Moffitt

Cancer Center announced in late May plans to build a “regional ecosystem” around radiopharmaceutical therapies. The therapies include cancer drugs that combine radioactive isotopes with other treatments that attack tumors at the cellular level. The partnership, called the Florida Oncology and Radiopharmaceutical Growth Engine (FORGE), includes Embarc Collective, the University of South Florida and Pasco-Hernando State College. While additional funding for the project is required, the media property Tampa Bay Business & Wealth wrote that “Organizers project the effort could create roughly 4,000 jobs and generate $2.6 billion in economic impact across Florida over the next decade.” Google to build $8 billion data center in LaGrange; its second in Georgia In addition to the LaGrange data center, Google operates another multi-billion-dollar center in Douglas County. This latest announcement will create 100 jobs and close to 1,000 construction jobs. SUMMER 2026 SB&D 75

Top 10 Industry Sectors in 2025 Industry Data Centers/A.I. Aerospace Metals Health Care Pharmaceuticals Automotive Financial Services Electronics/Chips Defense (Non-aerospace) Food & Beverage Renewable Energy Distribution Call Centers

Deals 78 46 37 37 34 28 16 15 14 11 7 6 5

Top 10 Industry Sectors Average Deals from 1993 to 2024 Industry Automotive Financial Services Call Centers Distribution Health Care Food & Beverage Petrochemicals Aviation/Aerospace Renewable Energy Headquarters Data Centers

Average Deals 89 66 58 55 51 44 37 27 27 23 1.8

and A.I. boom, there are going to be winners and losers. For example, when the dot-com bubble burst, there were plenty of winners in addition to thousands of losers. Out of that came email for heaven’s sake, along with YouTube, Facebook, Google, so many of the foundations of technology today. Some of the losers included MySpace, Geocities, Flooz, Pets.com and AOL. The same was true during the financial crisis. Lehman Brothers and Wachovia went belly-up. But Wells Fargo, Atlanta-based Primerica and JP Morgan Chase were clear winners. There were many others on both sides. Same with the EV run from 2021-2024, especially in the South. GM, Nissan, VinFast, Volkswagen and Ford were the losers, as many of their investments in EVs have been canceled or repurposed. That does not mean those companies don’t have a future in EVs. It is just means, “Not yet.” Everyone is convinced that EVs are the end game in the future for automotive. Winners in EVs today include Tesla with their huge investments in Texas, Mercedes in Alabama, Toyota in North Carolina and BMW in South Carolina. It remains to be seen with others, such as Hyundai’s meta-plant near Savannah and Rivian near Atlanta. The winners and losers will soon be seen in A.I. as well. If I had to bet on a winner, it would be Google’s Gemini project. After all, Google started all these online searches in the first place 30 years ago. But it is probably too early to tell the winners and losers in A.I. as most of us haven’t started spending on it yet on the consumer level. However, there are some cracks in the A.I. armor beginning to show. In an article published by CNBC in late June, the “Godfather of A.I.," Yann LeCun, founder of AMI Labs, called Elon Musk’s xAI a “failure.” LeCun doesn’t believe xAI will be able to compete with OpenAI and Anthropic. In the same article, LeCun, who was formerly Meta’s A.I. CEO, said A.I. labs are risking a “big bubble explosion” if they don’t cut costs and raise prices. We question some of the financing of these data center deals and A.I. in general. Much of it is financed privately, almost all with borrowed money. Again, like all transformational economies, there are going to be winners and losers.

Source: Southern Business & Development. Deals announced meeting or exceeding 200 jobs and/or $30 million in investment in the 13-state American South.

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It is not the data centers themselves that are creating the jobs today. While automotive and financial services, traditionally the largest two job-generating sectors in the South for four decades, are picking up, A.I. driven job projects — the suppliers of the data center buildouts — are where the jobs are being created in an otherwise tepid economy with respect to jobs. These would be fiber optic, aluminum, steel (racks), electronics and energy providers to these massive data centers. And of course, tens of thousands of construction workers.

The rich get richer

And riches are being created right and left, for the already rich. Net worth hit new highs in the first quarter of 2026. According to KPMG’s report, “The top third earners are still seeing their wages rise faster than the bottom two thirds. That wedge is showing up in the disconnect between consumer attitude surveys and overall spending. A minority of consumers is carrying spending gains, while the rest struggle to make ends meet.” The KPMG report continued. “Low- and middle-income households are spending more on necessities and less on discretionary items. Curbs to SNAP benefits accentuated those trends at the start of the year. Food banks are slammed.” The KPMG report also contained, “Even high-income earners traded down” so far this year. “They increased their spending at discounters, off-price retailers and resale shops. The top tier continues to spend with abandon. Those out on vacation and not at work in May rose to the second highest on record for the month. Bookings for the FIFA World Cup surged and provided extra support for travel and tourism over the summer.”

Wages are falling. Wealth is surging.

So, there is no question this is a great time to invest if you have the money to do so, or at least as of this writing. In June, Elon Musk became the world’s first trillionaire. The same week, though, the Bureau of Labor Statistics reported that the surge in energy prices as a result of the Iran War wiped out a year and a half of wage gains for the poor and lower middle class. This positioning is what I call the pitchfork economy, where a political or an even larger, more devastating upheaval may be in the works. Income inequality does that and has for a thousand years. It explains why many Americans are simply fed up with this economy. And, it should be noted, that group makes up the majority of people in this country. A great stock market is a wonderful thing, but for many Americans not participating in it, it is not. They don’t necessarily believe it is bad for them. However, it does make them think, “Well, great for them. But that means I am just falling behind even more.” Wealth inequality is not new. But financial or income inequality has risen to heights not seen even at the height of the Gilded Age at the end of the 19th century. As written, rare are the economic years when all three classes benefit from opportunity. In fact, it is probably less rare that all three classes struggle simultaneously, like during the Great Recession. But today’s wealth inequality may be the worst ever in the nation’s history. Here are some facts to ponder: The top 10 percent own a record 93 percent of all stocks. A decade ago, they owned about 80 percent. l

Twenty individuals own about 12 percent of total U.S. GDP.

Pension wealth has grown by 720 percent between 1989 and 2021 for the richest one percent.

The median retirement savings for about half of Americans is $0, while families in the top 10 percent hold a median of just over $600,000.

About half of U.S. workers don’t have an employer-sponsored retirement plan. . .unthinkable decades ago.

No wonder so many people are unhappy with today’s economy. So, the rich are getting richer, while at the same time with inflation, the middle class is hanging on and the poor are getting poorer. It is that simple. As a society, we would be much better off if this income inequality didn’t seem to grow each year, and wealth distribution was much wider.

Pitchforks Last April, after “Liberation Day,” April 2, 2025, when the tariffs were implemented by President Trump, I wrote, “Well, these are just added taxes to all of us. Combined with four years of inflation (five now) that has risen recently, there is more money going out than coming in for many households.” I also wrote last April when the tariffs were announced, “Within a year, you will see discretionary income drop and the first indication will be a wave of restaurant closings.” Sure enough, QSR.pro recently published a story about the restaurant industry. “The restaurant industry entered 2026 with a closure problem that is accelerating, not abating. Six major restaurant chains have announced plans to close hundreds of units this year, and data suggests the total number of closures across the full industry could be the highest since the pandemic.” Black Box Intelligence supported that claim by QSR.pro. Black Box warned that up to 15 percent of all restaurants in the U.S. could close this year.

Vitner chimes in again Economist Mark Vitner wrote this in one of his weekly reports in June regarding the K-shape economy. “S&P 500 net profit margins are at a record 13.4 percent. Credit card delinquency just hit 13.1 percent, the highest since 2011. The two figures nearly match, and they describe two different economies. One side compounds profits and capital spending; the other is running out of room on its credit cards.” The real question is, when do the S&P net profit margins abate? Or will they? Another SEDR economist, Dr. Walter Kemmsies, said this in December at Rosemary Beach, “Weakening consumer sentiment and tariffs could be the straw that breaks the back.” SUMMER 2026 SB&D 77

Yet, the backbone of this economy is not broken, as one industry seems to be propping it up almost by itself — A.I. and the data center industry. The investments into that sector are so enormous, it is difficult to get your arms around it.

New pitchforks

With sky-high gas prices throughout much of this year, workers in the rural South are as negatively affected as any social group in this K-shape economy. While the rural regions in the South have always struggled, we have seen a lot of progress in the manufacturing arena in more rural areas than ever before post pandemic. However, that momentum is waning. That was true during the EV buildout craze from 2021 to 2024. Many of those investments were made in rural regions of the South. However, only about half of that run of massive investments has even opened the plant they announced. The EV became a bubble for much of the rural South and there has been an uptick in plant closures. This puts rural workers at a huge disadvantage, as in some places, the local plant has closed and rural workers must drive further in many cases to find a new job. With gas prices, that is not sustainable.

to create more jobs, investment and general overall growth. Also, we support a “regional” increase in the minimum wage, as wages should be higher in places like California and New York compared to many states in the South. We are certainly not the only ones supporting such an economic philosophy. A recent proponent of “middle-out economics” is Nick Hanauer, a very affluent entrepreneur based in the Seattle area. A self-described “plutocrat,” Hanauer points to countries that have made huge investments in the middle class and the poor. Hanauer claims that “trickle-down” economics should be replaced with support for the middle class because “every place on Earth where you find prosperity, you find massive investments in the middle class and the poor.” So, what are the answers to extreme income inequality? Here are a few that we have found: l Implement progressive taxation to ensure higher earners contribute a fair share. l

Increase the minimum wage to provide a living wage for all.

Expand access to quality education and vocational training to enhance skills (this sounds similar to what Ed Castile and Neal Wade said earlier in this report).

Rural areas are also where those not participating in the job market are more likely to be found. This is also where President Trump has received most of his support from rural whites in the past decade. The rural South is the center of the MAGA nation.

l Strengthen social safety nets, including unemployment benefits and heath care.

But a new report out by The New York Times in June shows that blue-collar white voters are suffering the most in this economy:

Promote affordable housing initiatives to reduce living costs for low-income families.

“Polls now regularly show that a majority of white voters who did not graduate from college no longer approve of Mr. Trump’s handling of the economy. Examples of his low ratings include polls from Fox News (33 percent approval), CBS News (39 percent), NPR/PBS/Marist (40 percent), CNN (43 percent) and The New York Times/Siena College (47 percent).

Nick Hanauer’s Ted Talk

“Mr. Trump’s approval on the economy has dropped across practically every group. But his cratering support among a loyal demographic that has served as the foundation of his political coalition for a decade has the potential to be among the most consequential developments of 2026, according to interviews with strategists in both parties who are involved in the midterms,” wrote The New York Times reporter Shane Goldmacher this summer.

Conclusion

We at SB&D do not fault the wealthy getting wealthier. That is capitalism, the foundation of this nation’s economy. Then again, SB&D has never cheered on top-down economics. We have tried it with economic policies in the past and it has never worked, except for the already well-off. That is not a political statement, that is fact backed up by decades of data. For decades, SB&D has been a proponent of “middle-out economics,” which focuses on the buying power of the middle class 78 SB&D SUMMER 2026

I wrote my first “Wages, Riches and Pitchforks” story as a result of a talk I heard 10 years ago from entrepreneur Nick Hanauer, a self-proclaimed plutocrat and founder and financier of over 35 companies. He is a very wealthy guy. He saw a future of angry mobs with pitchforks raging if something wasn’t done about income inequality in this country. During his talk he said, “While people like us plutocrats are living beyond the dreams of avarice, the other 99 percent of our fellow citizens are falling farther behind.” That was 10 years ago. Income inequality is worse today than it was then. He also said, “So I have a message for my fellow plutocrats and zillionaires and for anyone who lives in a gated bubble world: Wake up. Wake up. It cannot last. Because if we do not do something to fix the glaring economic inequities in our society, the pitchforks will come for us, for no free and open society can long sustain this kind of rising economic inequality. It has never happened. There are no examples. “You show me a highly unequal society, and I will show you a police state or an uprising. The pitchforks will come for us if we do not address this. It’s not a matter of if, it’s when. And it will be terrible when they come for everyone, but particularly for people like us plutocrats.” J

By Michael Randle Editor’s note: The following individuals are being named to the Southern Economic Development Hall of Fame based on SB&D owner Michael Randle’s travels throughout the American South since the late 1980s to today. The sidebar stories of individuals who earned their way into this volume are written by Randle, the Hall of Famer’s current employer, or penned by the Hall of Famer. Randle has visited or met about 78 percent of the following people elected in Volume V of the Southern Economic Development Hall of Fame. The results are partly defined by these individuals and their role in turning projects and their overall effect on economic and community development in their territories in South, as well as the impressions they have left or continue to leave on the American South’s overall economy. In 2012, John Truluck (center) and Matt Randle (right) got stuck in Clarendon County, S.C.

The involvement and capture of larger projects (“Big Kahunas” as Randle deems them) were given special emphasis. Also included in our selections are each individual’s involvement in volunteering in a variety of causes, as well as the length of their careers; even their personalities were taken into account by SB&D. The humorous stories of Randle’s are true, but some could be embellished a bit. CONTINUED

SUMMER 2026 SB&D 79

Greg Abbott

Governor of Texas

Greater Columbia, S.C. Chamber of Commerce

Bill Adams

George Barber

Arun Agarwal

Michael Barnes

Stuart Ames

Stephen Barrington

TVA; Mississippi Development Authority Nextt; Texas Economic Development Corporation Duke Energy

Andrea Anderson

Ardmore, Okla. Development Authority

“Big Jim” Anderson Jim was the first director of the Northeast Tennessee economic development agency. He was a powerful man, one who rubbed elbows with the likes of Tennessee politician and attorney Howard Baker. Jim let me spend some time with former U.S. Sen. Howard Baker, Jr. in Johnson City, Tenn., on several occasions at his law office. I have told this story about “Big Jim” Anderson before. Several times Big Jim invited me to his farm. One afternoon, as we were walking amongst his cattle while drinking some Tennessee whiskey, “Big Jim” said to me, “Mike, our spread isn’t the Ponderosa. But with each glass of Jack Daniels, the cows and the acreage get bigger and bigger.” Alan Bridwell and Alicia Summers did well making Northeast Tennessee more prosperous after taking over for the legend that was “Big Jim” Anderson. Their contributions running NETVRIDA are notable. Ernest Andrade

Charleston, S.C. Digital; Andrade Economics

Hunter Aycock Pictured above: Bill Adams; Jim Anderson; Jon Baggett; George Barber

80 SB&D SUMMER 2026 80

Community Development Foundation (Tupelo, Miss.); Mississippi Development Authority

Jon Baggett

South Carolina Department of Commerce; Dorchester County, S.C. Economic Development;

Barber Dairy; Barber Motorsports Park; Barber Companies (Birmingham, Ala.) Mike Barnes Group; Waco, Texas Chamber; Southern Indiana EDC Harnett County, N.C. Economic Development; Sampson County, N.C. Government; Capital Area Workforce

Mita Bates

Ardmore, Okla. Chamber; MAB Advisory LLC; Institute of Organizational Management

David Beasley

Governor of South Carolina

Lacy Beasley

Retail Strategies; The Shopping Center Group; Dickson County, Tenn. Chamber

Jim Blaylock

Brasfield & Gorrie

Tim Bolick

Catawba County, N.C. EDC

Jenn Bosser

Iredell County, N.C. Economic Development; City of Raleigh; Research Triangle Cleantech Cluster

Terry Bralley

Davie County, N.C. EDC

Alan Bridwell

Northeast Tennessee Valley Regional Industrial Development Association

Alan Bridwell is one of three leaders of the unique organization called Northeast Tennessee Valley Regional Industrial Development Association (NETVRIDA). The others that I knew well included Alicia Summers and “Big Jim” Anderson. The organization, founded in 1989, was one of the first regional economic development organizations in the South. In fact, it could have been the first regional economic development initiative. There were only a few in the 1980s.

NETVRIDA is unique in that it is funded by both the Tennessee Valley Authority and the State of Tennessee. Nobody had that type of funding back in the day.

Rogers Lowell, Ark. Chamber

In fact, NETVRIDA and SB&D have been partners for 34 years, as the group has been an advertiser in every printed issue SB&D has published going back to 1993. They have also advertised on every website we have created during that time, including SouthernAutoCorridor.com and RandleReport.com.

Bill Butler

The Northeast Tennessee Valley region went all the way back to being a part of the “New Deal” of 1933. Part of the mission was to domesticate the unpredictable Tennessee River and with that cultivate the region west of the Appalachians, part of which is the NETVRIDA region. That is also when, with the support of President Roosevelt, the Tennessee Valley Authority (TVA) was born. Woody Brinson

Brinson Development Services; Duplin County, N.C. EDC

David Broussard

England Airpark (Alexandria, La.); Central Louisiana Chamber

Mike Browder

Bristol Electric Tennessee Essential Services; American Public Power Association

Adam Bruns

Site Selection Magazine; The Lane Report; Institute of Citizens & Scholars Higher Education Media Fellow

Ronnie Bryant

Rob Burton

Hoar Construction Corporex, Covington, Ky.

Grant Cagle

Georgia Economic Developers Association

Orlando Campos

Harlingen; Texas EDC; Arlington, Texas Chamber of Commerce; Brownsville, Texas EDC; Valley International Airport

Gretchen Carson

Cabarrus County, N.C. EDC; Charlotte Regional Business Alliance; Mecklenburg County; Monroe-Union County, N.C. EDC

Jimmy Carter

Governor of Georgia; President of the United States

Page Castrodale

Cabarrus County, N.C. Economic Development

Tyler Chaffee

TVA; Winston-Salem Business Inc.; City of Opelika, Ala.

James Chappell

SCbio (Greenville, S.C.); Louisiana Economic Development; Chartic; Argopoint; The Boston Consulting Group

Rhonda Rice Clayton

Knoxville, Tenn. Chamber

Gerald D Cohen

Ronnie L. Bryant, LLC; Charlotte Regional Partnership

Chief Economist Kenan Institute UNC

Anna Buckalew

H+M Companies

Montgomery, Ala. Area Chamber; U.S. Chamber of Commerce

Grant Buckley

Cordele Crisp County, Ga. IDC

Jeff Burgess

Kershaw County, S.C. Economic Development; Chester County, S.C.; Lee County, S.C.

Raymond Burns

Roger Cook

In about 2012, I found myself with the Memphis Chamber’s Mark Herbison and Jackson, Tenn.-based H+M’s Roger Cook at a loud live music bar on Beale Street in Memphis. Roger was talking about forming a new economic development discussion group. Roger’s was sick and tired of the profit motives large meetings where it seemed to him, “Every speaker is a

Pictured above: Jenn Bosser; Alan Bridwell; Orlando Campos; Roger Cook

SUMMER 2026 SB&D 81

Mike Browder

Bristol Electric Tennessee Essential Services; American Public Power Association Mike Browder, now retired, served as CEO of Bristol Tennessee Essential Services (BTES) for more than four decades. A visionary leader, he recognized the critical role infrastructure plays in economic and community development. Working alongside local government and community partners, he helped acquire land for future industrial development, creating opportunities for business investment, job creation, and long-term regional growth. Under his leadership, BTES became one of the first local power companies to expand beyond electric service by providing high-speed Internet, video, and telephone services. More than two decades later, BTES continues to deliver these services, offering customers some of the fastest and most reliable internet in the country. Mike’s vision strengthened the region’s competitiveness and created a lasting foundation for sustained economic and community development, one that today’s BTES team continues to advance through strategic partnerships, infrastructure investment, and business development initiatives.

April Eads

Bristol Electric Tennessee Essential Services April Eads, a certified economic developer, serves as Director of Business Development for Bristol Tennessee Essential Services, the local power company providing electric, Internet, video and telephone services to customers throughout Bristol, Bluff City, Sullivan County, Tennessee, and Washington County, Virginia. With more than two decades of service to the region, she specializes in business retention and recruitment, infrastructure expansion, and regional workforce development. Recognizing that Northeast Tennessee’s beautiful rolling hills and mountainous terrain provide limited flat land for industrial development, April has worked alongside the Community Team, including the City of Bristol, Tennessee, the State of Tennessee, TVA, and NETWORKS Sullivan Partnership, to implement an aggressive property development strategy. Through this collaborative effort, the team has secured more than $5 million in grant funding to assist in land preparation and the development of pad-ready industrial sites, laying the groundwork for future investment, business growth, and job creation across the region. 82 SB&D SUMMER 2026

sponsor trying to sell us something.” I wouldn’t know, as I have never attended an IEDC meeting in 44 years of reporting on economic development. Roger continued, “Randle, you know everyone. Can’t you just invite a handful of the finest economic developers you know, maybe an economist or two, some site consultants, and maybe an educator, contractors. . .you know all of them; so we can just sit down and discuss the issues?” My answer to Roger was, “Roger, I ain’t got time for that.” So, Cook kept hounding me and we put together the first Southern Economic Development Roundtable in January of 2014 at WaterColor on Florida’s Gulf Coast, right there on beautiful Highway 30A. At that first meeting, there was not even an attendance fee. We scrounged up a few sponsors, fed everyone and had a cocktail reception and just talked. There were a few presentations. That first invited group included the likes of the late Wayne Sterling, Larry Hays, Michael Olivier, Stephen Moret, Lynn Pitts, Neal Wade, Mike Mullis, John Bradley, Gregg Gothreaux, Dr. Glen Fenter, Bob Leak, Jr., (the late Bob Leak, Sr. the next year), Jane Fryer, Ed Gardner, Ellen McNair, Dennis Cuneo, David Hudgins, Marvin Moss, Mark Williams, Chuck Whipple, Randy George, Nancy Windham, Robin Ronne, Randy Zook, David Thornell, Gray Swoope and Roger and I. For a first meeting, it was a gathering of the “Titans of Economic Development in the South” back then. So, we did what Roger asked; we simply talked. Now, SEDR@RosemaryBeach is in its 13th year, this December 10-12 at The Pearl Hotel. SEDR is no longer a small meeting, but, the room can only hold 65 people, so it is still small compared to other meetings. And the meeting has grown from a few sandwiches and drinks to two fullblown dinners and receptions, so, yes, today there is an attendance fee. But we still spend every dollar of sponsor-

ship money on the meeting itself. And it usually sells out in a month. And if it wasn’t for Roger Cook, SEDR, considered by many to be the premiere economic development gathering anywhere, would not exist.

Will Evans

Roy Cooper

I loved the late Jim Fain, a long-time banker who ran the North Carolina Department of Commerce at a critical time from 2001 to 2008. That means Jim was at the helm of N.C. Commerce at the end of one recession and the beginning of another.

Governor of North Carolina

Lee Crume

BE NKY; Northern Kentucky Tri-County EDC

Adriana Cruz

Texas Economic Development/Office of the Governor; Greater San Marcos, Texas Partnership; Austin Chamber of Commerce; AngelouEconomics

Dennis Cuneo

Toyota Motor North America

Paula Davis

Tennessee Department of Economic & Community Development

Nathan Deal

Governor of Georgia

Dorian DeBarr

Decide DeKalb, Ga.

David Buck Dellinger

Clarksville-Montgomery County, Tenn. EDC; Metro Development and Housing Agency (Nashville); 101st Airborne Division, City of Fort Campbell, Ky.

April Eads

Bristol Electric Tennessee Essential Services

Mike Easley

Governor of North Carolina

Jeff Edge

Viking M&A; Charlotte, N.C. Chamber; Columbia, S.C. Chamber; Cherokee, S.C. Chamber; Spartanburg, S.C. Chamber

John Bel Edwards

Governor of Louisiana; Edwards & Associates; Fishman Haygood LLP; U.S. Military Academy

Michael Eidson

H&M Company; Hickerson Fowlkes Architects

Maury County Chamber and Economic Alliance

Jim Fain, III

North Carolina Department of Commerce

As for Toyota’s Dennis Cuneo, he has been a friend for 30 or more years. We have spent a lot of time together and were speakers at events all over the South for decades. Cuneo was a member of the very first Southern Economic Development Roundtable at WaterColor in Santa Rosa Beach, Fla. in January of 2014. Over 20 years ago, Toyota was searching for a site for its new pickup truck plant that eventually went to San Antonio. In the process, they looked at the megasite in Liberty, N.C. (Randolph County) where they are currently producing at their multi-billion-dollar EV battery plant. So, Toyota came back to that site and built its only U.S. battery plant there nearly 25-years later. When I got word that Toyota was considering North Carolina for an assembly plant, I went to find and walk the Randolph County site by myself in about 2001 or 2002. I put my site boots on and walked the land starting with the first dirt road I came upon. There was no grading of the site back then; just woods and rolling hills. It should be noted that I had eaten lunch with Sec. Fain at the Carolina Country Club in Raleigh the previous month. During lunch, Jim was mum on any auto plant information that he might have given me. By that time, I had already received the information I needed regarding the Liberty site. Our lunch was just to familiarize ourselves with each other as he had just started in his Commerce role after years with First Union and Wachovia. CONTINUED

Pictured above: Lee Crume; Dennis Cuneo; David Buck Dellinger; Jim Fain

SUMMER 2025 SB&D 83

While discovering the Liberty site, I also found a house on a hill that overlooked the center of the land. I knocked on the door and a woman (who has never wanted to be named, but her name was/is Barbara) answered. I asked, “Have you seen anyone on the land your deck overlooks?” She said, “No.” So, I said, “You are about to!” She asked me, “Why?” I simply responded, “I cannot tell you that right now, but I will in time.” Continuing the conversation, I told Barbara, “Here is a camera and large lens that I just bought you at Best Buy. Keep them. They are yours as long as you take photos of everyone that you see walking down there in that field. If you see anyone, take multiple photographs and send them to me. I will publish them in my magazine and pay you $500 per photo published.” And behold! Barbara sent me multiple photos of Toyota’s Dennis Cuneo and Commerce Secretary Jim Fain walking the property. I was so excited! It was serious guerrilla journalism that worked. So stoked! I knew they would be walking the Liberty site along with other automaker representatives. There were also rumors around that time that Audi was looking at North Carolina, and Hyundai we knew for a fact was also. In fact, I also received photos of the South Koreans walking that Liberty site three weeks later from “Barbara,” each one with a lung dart in their hands or mouths. To be honest, the Koreans smoke more than anyone I have ever seen. By then, Barbara was sending me videos and making a nice, tidy sum working part-time for me.

Pictured above: Rick Farmer; Mac Farr; Josh Fenn; Meryl Fisackerly

84 SB&D SUMMER 2026

I emailed the photos I received from Barbara to Cuneo and Fain. Me: “Hey, Cuneo, Fain, is that you walking the Liberty, N.C., site?” Needless to say, they were baffled. Fain said, “How did you find us? Why didn’t you tell us you were in town?” Thing is, I wasn’t. But Barbara was at home, taking photos for me.

Cuneo (good friend by then) said, “Mike!? Dammit!? The only place we were seen was this little BBQ joint and no one was in there but us. There is only one person on Earth that would do this and that is you, Randle! Please don’t announce Toyota is coming to Randolph County.” So, I didn’t. Cuneo’s admission forced by my tactics were good enough for me to delete that site off the Toyota search list and correctly pick San Antonio for the pickup truck plant five months in advance. While it is another story, Toyota’s Texas pick was the first in automotive history where the marketing department called the shot. After all, what is more Texas than pickup trucks? It should be noted that in the summer 2026 quarter, Toyota announced a $3 billion expansion of its San Antonio assembly plant, as the Southern Automotive Corridor is showing some life after a terrible 2025. Since Cuneo himself admitted Toyota wasn’t going to North Carolina, the San Antonio prediction was an easy pick. That pick was not unlike Kia, six months before they announced in West Point, Ga., and seven other assembly plants I correctly predicted before and later. I picked Volkswagen to go to Huntsville in 2008. I was wrong after nine straight correct predicted sites for auto plants in the Southern Auto Corridor going back to 1992 and BMW. So, once wrong, I quit the practice of guessing where auto plants, which we call the “Big Kahuna,” would locate. Needless to say, though, I got Cuneo and Fain and good! Rick Farmer

Newberry County, S.C. Economic Development; Sumter County Development Board

Mac Farr

Strategic Development Group

F.J. “Josh” Fenn

STACK Infrastructure; Henry County, Ga. Development Authority; ECS

Southeast; Jackson County, Ga. Chamber; Development Authority of Bryan County, Ga.

System; Central Carolina Technical College (Sumter, S.C.)

Meryl Fisackerly

Electric Cooperatives of Arkansas

Golden Triangle Development LINK; Columbus-Lowndes County, Miss. Chamber

Jennifer Fletcher

Deloitte Consulting; South Carolina Department of Commerce; Upstate SC Alliance

Mary Flournoy

Norfolk Southern; Georgia Power

Laura Foor

Charlotte Regional Business Alliance; Lincoln County, N.C. EDA

Jason Ford

Vernon “Buddy” Hasten John Hatfield

Tennessee Department of Economic and Community Development; City of Lewisburg, Tenn.; Morgan County, Ala. EDA

Alan Hawthorne

Joint IDA of Wythe Co.

Sara Hazzard

South Carolina Manufacturers Alliance

Jessica Heer

Dallas Regional Chamber; Fort Worth EDP

Frisco, Texas EDC; Greater Houston Partnership; Louisiana Economic Development; Taylor, Texas EDC

Stuart Heishman

Mike Fox

Sean Helton

Piedmont Triad Partnership; Tuggle Duggins

Teclo Garcia

Mission, Texas EDC; City of Laredo; City of McAllen, Texas; The Arizona Republic

Crystal Gettys

Randolph County, N.C. EDC; Sanford Holshouser; Wayne County, N.C. Alliance; Lincoln, N.C. EDA

Jim Gilmore

Governor of Virginia

Miller Girvin

Economic Development Partnership of Alabama; Alabama Capital Network; Office of the Speaker, J. Dennis Hastert

Caleb Goodwyn

Duke Energy; MACTEC; WileyWilson; Norfolk Southern Florida Power & Light; Enterprise Florida

Brad Henry

Governor of Oklahoma

Shane Homan

Community Development Foundation (Tupelo, Miss.); Mississippi Development Authority

Jones Hooks

Jekyll Island, Ga. Authority; Hampton Roads, Va. EDA; KPMG

Bess Hubbard

TVA; Rutherford County, Tenn. Chamber; U.S. Department of State; White House intern

Mark Huey

Growth Works Consulting; EDC of Sarasota County, Fla.; City of Tampa

Montgomery, Ala. Area Chamber; PowerSouth Energy Cooperative; U.S. Congress Aide

Shelly Jo Jacobs

Jim Gorrie

Bill Johnson

Brasfield & Gorrie

Miller Gorrie

Brasfield & Gorrie

Dr. Tim Hardee

South Carolina Technical College

Southern Business & Development

TVA; Progress Energy; Pacific Gas and Electric; Hunton & Williams

Chris Johnson

Johnston County, N.C. Economic Development; Downtown Smithfield CONTINUED Development

Pictured above: Jennifer Fletcher; Miller Girvin; Miller Gorrie; Stuart Heishman

SUMMER 2026 SB&D 85

Lee Johnson

amazed us all, including our SEDR resident economist, Mark Vitner of Piedmont Crescent Capital. Vitner: “Dang, Kemmsies covered a lot!”

Merle Johnson

In short, Dr. Walter Kemmsies sucked the air out of the room at The Pearl Hotel in December.

Kelvin Johnson Spire; Alagasco

Baldwin EMC; Baldwin County EDA; Tennessee Valley Authority (TVA) Charleston County, S.C. Economic Development; Orangeburg County, S.C. DC; City of Greenville, S.C.; Charleston Regional Development Alliance

Spencer Johnson

Martinsville-Henry County, Va. EDC; Focus on the Family

Adrienne Johnston

CareerSource Florida; Florida Department of Economic Opportunity

Tommy Kramer

Durant, Okla. Industrial Authority

William Henry Lacey, III

South Carolina Department of Commerce; South Carolina Film Office

Jay A. Langston

Governor of Kentucky

Shenandoah Valley Partnership; Virginia Economic Development Partnership; Virginia’s Gateway Region

Bob Joyce

Mallory Lawson

Jeff Kaczmarek

Bill Lee

Prince William County, Va. DED; EDC of Kansas City, Mo.; Jeff Kaczmarek Consulting

TVA; Community Development Foundation (Tupelo, Miss.) Governor of Tennessee

Joe Lilly

Tim Kaine

Governor of Virginia

Kentucky Cabinet for Economic Development; Joe Lilly Communications; News West

Anne Kaiser

Louis Lockhart

Georgia Power; 7thirty7 Group; Technical College System of Georgia

Brian Kemp

Governor of Georgia

Allen Karel

Butler Snow LLP; River Region Health System

Frank Keating

Governor of Oklahoma

Dr. Walter Kemmsies

The Kemmsies Group; Moffat & Nichol; UBS Zurich

86 SB&D SUMMER 2026

Oklahoma Department of Commerce; Regent Bank

Brereton C. Jones

Sanford, N.C. Area Growth Alliance; Sanford Area Chamber

Pictured above: Sean Helton; Spencer Johnson; Ann Kaiser; Walter Kemmsies

Sean Kouplen

Dr. Kemmsies is a brilliant chief economist and CEO who I truly admire. His presentation at SEDR@RosemaryBeach in December of 2025 was fascinating and dazzling. He simply

PowerSouth (Alabama); Tennessee Department of Economic & Community Development; Alabama Development Office

Rachel Madore

Alabama Department of Commerce; Montgomery, Ala. Area Chamber

Wayne Mansfield

Longview, Texas EDC; Vicksburg Warren County Port Commission; City of Tyler, Texas

Chris Masingill

Louisiana Central (Alexandria, La.); St. Tammany EDC (La.); Delta Regional Authority

J. Ed Marston

EPB (Chattanooga, Tenn.); Chattanooga Area Chamber

James G. Martin

Governor of North Carolina

Brad Maul

East Tennessee Economic Development Agency; TVA; KPMG; Jefferson County, Tenn. Chamber

Terry McAuliffe

Governor of Virginia

D. Scott McLain

Coldwell Banker Commercial McLain Real Estate (Huntsville, Ala.)

Elizabeth McCreary

Williamson Inc. (Williamson County, Tenn.); T.W. Frierson Contractor; Maury County, Tenn. Chamber; Journal Communications

Pat McCrory

Governor of North Carolina

Ryan McDaniels

Town of Harrisburg, N.C.; Lake Norman, N.C. Economic Development; Cabarrus County, N.C.

Bob McDonnell

Governor of Virginia

Lawrence McKinney

Economic Strategy Professionals; Norman Economic Development Coalition; Daytona, Fla. Regional Chamber

Harry McLemore

Chris Masingill

Louisiana Central (Alexandria, La.); St. Tammany EDC (La.); Delta Regional Authority Chris Masingill, CEcD, EcDMP, is one of the nation’s most accomplished economic development leaders, with a career spanning local, regional, and federal leadership. He has successfully led transformational initiatives that have generated billions of dollars in investment, created and retained thousands of jobs, strengthened workforce and entrepreneurship ecosystems, and advanced economic opportunity across the South. From serving as the U.S. Senate-confirmed Federal Co-Chairman of the Delta Regional Authority to leading St. Tammany Economic Development Corporation and now serving as President and CEO of Louisiana Central, Masingill has consistently delivered measurable results through strategic vision, collaborative partnerships, and innovative leadership.

North Mississippi IDA; Little Rock, Ark. Chamber; Pensacola-Escambia County, Fla. DC; Jackson County, Miss. Port Authority

At Louisiana Central, he is leading the implementation of the Elevate 2030 regional strategic plan while advancing transformative business recruitment, workforce development, and economic competitiveness throughout Central Louisiana.

Henry McMaster

Recognized nationally for his leadership, Masingill has earned numerous honors, including multiple Consultant Connect Top 50 Economic Developer awards, the International Economic Development Council’s Federal Leadership Award, and Southern Business & Development’s “Under 50 to Watch.”

Governor of South Carolina

Ellen McNair

Secretary of Commerce, Alabama Department of Commerce; Montgomery, Ala. Chamber of Commerce; Alabama Development Office

I have known Ellen for decades. She got to Alabama from Boston after accepting a track scholarship, and never left.

A Certified Economic Developer (CEcD) and Economic Development Master Practitioner (EcDMP), he has also served in key leadership roles with the International Economic Development Council and the Southern Economic Development Council. His lasting impact, commitment to collaboration, and proven record of creating sustainable economic opportunity make him exceptionally deserving of Southern Economic Development Hall of Fame recognition.

It did not take Ellen long to make her SUMMER 2026 SB&D 87

Mandi Mitchell

Lafayette, La. EDA Mandi D. Mitchell, CEcD, has distinguished herself as one of Louisiana’s most accomplished and influential economic development leaders. Since November 2021, Mitchell has served as President and CEO of the Lafayette Economic Development Authority (LEDA), leading efforts to attract investment, create jobs, foster entrepreneurship and enhance economic opportunity throughout Lafayette Parish. Under her leadership, LEDA has secured more than 5,000 new direct jobs and nearly $500 million in capital investment while earning national recognition through multiple International Economic Development Council (IEDC) Excellence Awards for workforce development, entrepreneurship, business retention and expansion, and innovative community partnerships. A Lafayette native, Mitchell combines technical expertise, business acumen and public policy experience to advance economic growth. She holds a Bachelor of Science in Electrical Engineering and a Master of Business Administration from the University of New Orleans and has earned the prestigious Certified Economic Developer (CEcD), Entrepreneurship Development Professional (EDP), and Foreign Investment Professional (FDIP) designations. Her leadership extends beyond Lafayette through service as 2026 President of the Louisiana Economic Alliance for Development, membership on the boards of the International Economic Development Council, the Southern Economic Development Council, the Southern Economic Development Roundtable, the Louisiana Board of International Commerce, and the Louisiana Economic Development Partnership. The success of Lafayette today reflects Mitchell’s vision for a diverse, innovative, and resilient economy. Recognized as a hub for advanced manufacturing, aerospace, healthcare, logistics, technology, energy and entrepreneurship, Lafayette has become one of Louisiana’s most dynamic communities. The parish has led the state in population growth in recent years and earned national recognition as one of Fortune’s “Best Places to Live for Families.” During Mitchell’s tenure, Lafayette has attracted significant investments from companies such as MMR Group, DMR Technologies, and major retailers like Buc-ee’s, while continuing to support the growth of major employers including Stuller, CGI, and Dupre Logistics. Through strong partnerships with education, workforce, business, cultural, and community organizations, she has helped position Lafayette as a place where businesses thrive, talent grows and families build their futures. Before joining LEDA, Mitchell served in senior leadership roles at Louisiana Economic Development under both Republican and Democratic administrations, helping secure transformational projects, advance pro-business policies, expand opportunities for small businesses, and launch statewide initiatives that continue to benefit Louisiana today. This Hall of Fame recognition honors a leader whose influence extends beyond economic development statistics. Through collaborative leadership, strategic vision and an unwavering commitment to her hometown, Mandi Mitchell has helped shape Lafayette’s growth and strengthened Louisiana’s economic future for generations to come. 88 SB&D SUMMER 2026

mark, as soon she became the first female economic developer in the profession of economic development in the state of Alabama. That was Ellen’s first first; the first of many. Ellen is one of the kindest human beings I know, but at the same time, a bulldog when it comes to work, specifically recruiting industry in an effort to spread wealth to all. She worked for the Montgomery Chamber for a long time, teaming with Randy George. Together and with their team, they helped transform Montgomery. Never been to Montgomery? I highly recommend a visit to one of the most historical Southern markets. Since she became the Secretary of Commerce of Alabama after succeeding Greg Canfield and others, such as Neal Wade in the past, I have tried to stay out of her way. She has been very busy and I know her well enough that when she is in bulldog mode, “Just stand aside and let the woman walk on through.” Harry Mills

Granville County, N.C. Board of Commissioners

Ann Blair Miller

Roanoke Regional Partnership; Virginia Economic Development Partnership

Jon Milstead

Community Development Foundation (Tupelo, Miss.)

Mandi Mitchell

Lafayette, La. EDA; Louisiana Economic Development; AT&T/ BellSouth

Sherri Mitchell

Nassau County, Fla. EDB; First Coast Manufacturers Association

Deborah Moorad

Oklahoma Secretary of Commerce; JAX XII Holdings; CorriXR Therapeutics; Aldevron

Charles Moseley

Georgia Power; Henry County, Ga. Development Authority

Sherry Mullis

J.M. Mullis Inc.; Fort Worth, Texas Chamber

Patrick Murphy

Alabama Power; Birmingham Business Alliance

Adam Murray

TVA; Mississippi Development Authority

Ronnie Musgrove

Governor of Mississippi

Ryan Nance

North Carolina Electric Cooperatives; Economic Development Partnership of North Carolina; Appalachian State University Energy Center

John Nelms Duke Energy

Ralph Northam

Governor of Virginia

Scott Norton

TexAmericas Center; Texarkana College

Mark Owens

Greater Winston-Salem Inc.; Greer, S.C. Chamber; Laurens County, S.C. Chamber

Phyllis Owens

Harnett County, N.C. EDC; FayettevilleCumberland County, N.C. EDC

Alex Patrick

Bradley Arant Boult Cummings LLP; Birmingham Business Alliance

Rand Paul

Kentucky U.S. Senator

Corky Peek

Kentucky Cabinet for Economic Development; Lyons County, Ky. High School Baseball Head Coach

Hollie Pegg

Alabama Department of Commerce; Alabama Development Office

Pictured above: Ellen McNair; Jon Milstead; Sherri Mitchell; Patrick Murphy

Yvette Pena

Laredo, Texas EDC

Pictured above: Mark Owens; Hollie Pegg; Chris Plate’; Douglas Scarboro

Bev Perdue

Governor of North Carolina

CONTINUED

SUMMER 2026 SB&D 89

Hitting a Home Run By Corky Peek (Hall of Famer) Having been in economic development for over 26 years, I remember the days when a $100 million project was considered a “mega project.” If you worked a project of that size, you definitely got some “atta boys” and slaps on the back. Perhaps the most impactful mega project I ever worked was in McCracken County in Western Kentucky, which happens to be my neck of the woods. The Paducah Gaseous Diffusion Plant is no secret to anyone in business. The plant began enriching uranium in 1952. In the 1960s, the plant began enriching uranium solely for use in nuclear power plants. It was an economic hub for the entire region. Then in 2014, the Department of Energy began decontaminating and decommissioning the plant. The leaders of McCracken County and Paducah, along with the state, continued to lobby for money to be put in the federal budget to get the site cleaned up. Several hazardous materials were still left on the site including “tails” of uranium. These tails were thousands of cylinders with uranium left in them. I don’t know if anyone saw this as an opportunity, but in August of 2024, having received a meeting request from Bruce Wilcox, President/CEO of Greater Paducah Economic Development, that opportunity came calling in the form of a recently formed company, General Matter. General Matter was on the fast track to locate a new uranium enrichment facility at the decommissioned DOE site in western McCracken County. Their hope was to lease land on the actual site of the former Paducah Gaseous Diffusion Plant to produce LEU (low-enriched uranium) and HALEU (high assay enriched uranium). From an economic developer’s perspective – mine — I always looked at every deal with the same idea. (1) Is the deal good for the community; (2) is it good for the company; and (3) is it good for the state? Right off the bat I knew that this project met all three criteria with high marks. Not only was it a high capital investment project ($1.5 billion), the company would create 140 new, high-paying jobs. The best part as I saw it, they would locate on the site and use the existing uranium that at some point was going to be disposed of. My part almost seemed easy. Our team helped with letters of support to the DOE, we did expedited incentive proposal letters thanks to my commissioner, Kristina Slattery and my secretary, Jeff Noel. Yes, this was a mega project, but to me, it meant so much more than a normal project. It would help to clean up the DOE site by using the remaining uranium tails. That’s community impact like I’ve never experienced in working a project. I suppose it was my “walk-off” home run because I retired four months later from a job that I truly loved. I loved it because of the people. Some of my best friends still work at the Cabinet for Economic Development. Additionally, I have met some of the nicest and most professional people that I call friends by the networking opportunities experienced in my role. While I don’t take full credit for General Matter, I count it as truly a blessed experience to be a part of the team that worked the deal. I always will! 90 SB&D SUMMER 2026 90

Pictured above: Adrienne Slack; Jubal Smith; Abigail Spanberger; Chris Steinocher

Chris Platé

FloridaWest EDA; Chris Platé Consulting; Monroe-Union County, N.C. EDC; Charlotte-Monroe Executive Airport; York County, S.C.; Chester County, S.C.

Teresa Powers

South Carolina Department of Commerce; Newberry County, S.C. Economic Development

Cliff Pyron

Wilmington, N.C. Business Development; N.C. State Ports Authority

Jack Qualls

Loudon, Tenn. EDA

Carl Rees

ElectriCities of North Carolina; City of Greenville, N.C.

Tate Reeves

Governor of Mississippi

Jim Reichardt

Jacksonville-Onslow, N.C. Economic Development; Chattanooga Area Chamber; Hollingsworth Companies; Volusia County, Fla. Economic Development

Ashley Richardson

Charleston County, S.C. Economic Development; Town of Mount Pleasant, S.C.; The Citadel

Rick Richmond Tampa Electric

Vann Rogerson

NC East Alliance; North Carolina Department of Commerce; NC’s Northeast EDC

Gilberto Salinas

Greater Brownsville Incentives Corporation; EcoDevo Concepts; Kerr, Texas EDC; Greater BrownsvilleMatamoros Borderplex; The Brownsville Herald

Sarah Huckabee Sanders

Governor of Arkansas

Dr. Douglas Scarboro

Federal Reserve Bank (Memphis); City of Memphis; New Memphis CONTINUED

Rob Sitterley AR-TX REDI

Rob Sitterley has never been content to manage momentum. He relentlessly builds it. As President and CEO of AR-TX REDI, Sitterley leads one of the more complex regional economic development models in the country. Texarkana USA is not a single jurisdiction. It is two states, two legislatures, two incentive structures, and a history of fragmented efforts. Under his leadership, it operates as one market with one strategy and a unified voice. Before returning to regional leadership, Sitterley led Merit Advisors’ national site selection practice, advising companies on complex location strategy and high-stakes discretionary incentive negotiations. It was a national platform with significant reach. He chose to return to community leadership, where he could directly shape outcomes and build long-term regional capacity. His earlier tenure in Florida cemented his reputation as a dealmaker. As Vice President of Business Development at Enterprise Florida, he helped lead his team to 425 project wins generating more than 78,000 new jobs and $7.9 billion in investment. Entrusted by the Secretary of Commerce with the state’s largest and most complex assignments, he led landmark relocations including Hertz Global Holdings’ headquarters move from New Jersey to Southwest Florida, the United States Tennis Association’s relocation from New York to Orlando, and Navy Federal Credit Union’s 5,000-job expansion into Pensacola, still the state’s single-project job creation record. In 2019, he brought that same intensity to Texarkana. Since then, AR-TX REDI has secured more than $62 million to lengthen and strengthen Texarkana Regional Airport’s runway infrastructure, aligning Federal, Arkansas, Texas, and local partners around a coordinated aviation strategy. Two mega sites, one in Arkansas and one in Texas, were acquired, engineered, and certified in record time, positioning the region for advanced manufacturing, logistics, and technology recruitment. Sitterley personally championed and architected the 134-mile fiber broadband backbone initiative, assembling county, municipal, and institutional partners to move the project from concept to construction. It was not incidental progress. It was a REDI-driven infrastructure strategy rooted in his belief that modern connectivity is foundational to competitiveness. He has broadened the definition of economic development in the process. The REDI. . .Set. . .Move talent attraction initiative has generated thousands of applications and relocated high-income households to the region. Recognizing the absence of a formal entrepreneurial ecosystem, Sitterley originated and executed The Assembly Line, a REDI initiative that established the region’s first innovation hub by securing institutional buy-in and financial commitments from higher education and municipal partners. Economic development in the South rewards discipline, credibility and results. Rob Sitterley has delivered all three. His work in Florida reshaped a state. His leadership in Texarkana is reshaping a region. SUMMER 2026 SB&D 91 91

Amanda Shailendra

interviewed control it. Those are the best interviews.

Rob Sitterley

After Rutherford County and her success there, she landed with Amazon as the Director of Economic Development. I mean, who does that? I know who does — scary smart people.

Invest Atlanta; The Pendleton Group; Georgia Department of Economic Development; Path Solutions; Google AR-TX REDI; Merit Advisors; Enterprise Florida

Adrienne Slack

Federal Reserve Bank (New Orleans); Federal Reserve Board

Jubal Smith

JLL Location Economics; PricewaterhouseCoopers; The City of Austin, Texas

Justice Smyth

Tuscaloosa County, Ala. EDA; Alabama Transportation Institute; Montgomery, Ala. Area Chamber

John Snider

Governor of Oklahoma

Alicia Summers

City of Johnson City, Tenn.; Northeast TN Regional Economic Partnership (NeTREP)

John Sweatman

City of Opelika, Ala. Economic Development; NeighborhoodTour Magazines of East Alabama & West Georgia

Abigail Spanberger

Mike Swinson

Sandy Steele

SouthernCarolina Regional Development Alliance

Josh Stein

Governor of North Carolina

Chris Steinocher

St. Pete, Fla. Chamber; Tampa Bay Partnership

Holly Sears Sullivan

Amazon; Rutherford County, Tenn. Chamber of Commerce; Tennessee Department of Economic & Community Development

I first met Holly when she worked in Murphreesboro for the Rutherford County, Tenn. Chamber. When we met, we talked for a long time, much longer than the typical hour that is set aside.

92 SB&D SUMMER 2026 92

Kevin Stitt

Kentuckiana Works Board; Bullitt County, Ky. EDA; West Virginia Development Office Governor of Virginia

Pictured above: Holly Sears Sullivan; Matt Tackett; Iain Vasey; Corey Wiggins

Holly directed the Amazon HQ2 deal in Virginia and a similar one in Nashville, among others. She is a remarkable talent and a kind human being.

In a short time, I knew I was talking to a woman who was “scary smart.” You know those types, right? You end up adjusting your questions in an interview from you controlling the conversation to letting the person being

Spire (Birmingham, Ala.); Alagasco; Eastman Chemical

Gray Swoope

VisionFirst Advisors; Enterprise Florida; Mississippi Development Authority; Area Development Partnership (Hattiesburg, Miss.); Arkansas Industrial Development Commission

Matt Tackett

Southern Economic Development Council; Kentucky Association for Economic Development; Kentucky Gas Association; Kentucky Governor’s Office

Andrew Tate

Duke Energy; North Carolina Railroad; Henderson County Partnership; Fuquay-Varina, N.C. Chamber

Tim Thompson

Anderson County, Tenn. EDA; Tennessee Dept. Economic & Community Development

Josh Thornton

TVA; Area Development Partnership (Hattiesburg, Miss.); Baldwin County, Ala. EDA

Jeff Traywick

Birmingham Business Alliance; Jefferson County, Ala. Commission

TVA’s First Certified Mini Megasite

Brenda Tuck

Selma and Dallas County, EDA; Alabama Department of Commerce; Marengo County, Ala. EDA; Pioneer Electric Cooperative

Robert Van Geons

Fayetteville-Cumberland County, N.C. EDC; RowanWORKS (N.C.); Stanly County, N.C. EDC

✓ Over 0.25 acres ✓ Access to neighbor’s power to run outdoor heavy-duty extension cord ✓ Workforce amenities (a house, drive-in dinning, deer stands, fishing hole…etc.) ✓ Shows well ✓ Quality of life

Iain Vasey

Golden Triangle Development Link; City of Klamath Falls, Ore.; Corpus Christi Regional EDC; Baton Rouge Area Chamber; Trammell Crow; City of Glendale, Ariz.

Steve Vassallo

Terrebonne Parish, La.; Global Colors of Economic Successes; Madison County, Miss. Economic Development Authority; McKinney, Texas EDC

Nearby Amenities • Workforce housing • Pad ready • 1.25 acres • Power • Lighting

Kathleen Ventura

Southern Industrial Constructors; Sageworks; CRB

Troy Wayman

One Acadiana; Montgomery, Ala. Area Chamber

George Ward

University of Kentucky Economic Development Collaborative; Coldstream Research Campus (Lexington, Ky.); Kentucky Technology

Gray Swoope Presents: TVA’s New Mini Megasite Program I have known Gray Swoope for 40 years. He attended our first Southern Economic Development Roundtable in 2014.

Jake Weir

On the second morning of that meeting, Gray had put together a brand new presentation in his hotel room the night before. Titled, “TVA’s New Mini Megasite Program,” Gray’s presentation was pure stand-up comedy at its best.

Fred Welch

Remember, it was TVA and McCallum Sweeney who developed the first certified megasites in the country, and it was so popular that just about all of those sites are occupied with the likes of Volkswagen, Steel Dynamics, Toyota/Mazda and so many others.

R. J. Corman Railroad Company; Norfolk Southern Copperas Cove, Texas EDC; Economic Alliance Houston Port Region; Greater Conroe, Texas EDC

Steve West

Duke Energy

Harry Whalen

Frisco, Texas EDC; Allen, Texas EDC; Caldwell County, N.C.; Michigan EDC; Fayetteville, N.C. EDC; SalisburyRowan, N.C. EDC; South Carolina State Development Board CONTINUED

Gray was pranking TVA’s John Bradley, who was in attendance. Gray started explaining the criteria for the new mini megasite program. Each site had to have these certifications: Each mini site could be no larger than two acres. The site must feature existing housing, such as a double-wide manufactured home on site. The site had to include some amenities, such as a “sandmich” shop nearby. Looking at the expression on the face of TVA’s John Bradley was nothing short of classic as a good time was had by all at SEDR’s first meeting. SUMMER 2026 SB&D 93 93

Ben White Taylor, Texas EDC; City of Cedar Park; Round Rock, Texas Chamber; City of Rowlett, Texas; Greenville, Texas

Holly Wiedman Orlando Economic Partnership; Beacon Council (Miami); City of Toledo, Ohio

Dr. Corey Wiggins Tougaloo College; Delta Regional

Robert Van Geons

Fayetteville-Cumberland County, N.C. EDC; RowanWORKS (N.C.); Stanly County, N.C. EDC Robert Van Geons, CEcD, is President and CEO of the Fayetteville Cumberland Economic Development Corporation (FCEDC) in North Carolina. Since joining FCEDC nearly a decade ago, he has played a pivotal role in transforming the region’s economy, helping secure more than $1.3 billion in capital investment and creating over 5,000 jobs for the community.

Authority; Mississippi State Conference NAACP; Jackson State University; Hope Policy Institute; W.K. Kellogg Foundation

Bruce Wilcox Greater Paducah Economic Development; Henry A. Petter Supply; Mid West Terminal

John Williams

Robert earned a Bachelor of Arts in Political Science from Catawba College and later a Master of Science in Economic Development from the University of Southern Mississippi. Before joining FCEDC, he spent 12 years leading economic development organizations in Rowan and Stanly counties, building a reputation as one of North Carolina’s most effective economic development professionals.

Berkeley County, S.C. Economic

His strategic vision, collaborative approach, and dedication to creating opportunities for businesses and residents alike have earned him recognition on Business North Carolina’s Power List for six consecutive years, as well as honors from the North Carolina Economic Development Association (NCEDA) and the International Economic Development Council (IEDC). Today, he adds another distinguished accomplishment to his career as a member of the Southern Economic Development Hall of Fame.

Terracon Consultants; F.SAME, FACEC

Some of Robert’s biggest wins for Fayetteville and Cumberland County include a billion-dollar titanium plant, a 1.3-million-square-foot Amazon distribution center, a sports dome manufacturer, and most recently, a drone manufacturer. Beyond project success, Robert has led special projects that strengthen the region’s long-term competitiveness, including the development of the new Defense Innovation Center at 611 W Russell Street. The 36,000-squarefoot facility will soon be transformed into a space designed to accelerate the identification, prototyping, and adoption of dual-use technologies. Robert’s commitment to community growth, innovation, and regional prosperity has helped position Fayetteville and Cumberland County for continued success. His induction into the Southern Economic Development Hall of Fame is a fitting recognition of a career dedicated to creating opportunities and advancing communities across North Carolina.

Development; Berkeley County Attorney; Williams & Hulst LLC; South Carolina Judicial Department

Melvin Williams Taylor Williams PowerSouth Energy Cooperative (Montgomery, Ala.); Montgomery Area Chamber

Alan Wood Burke Development Inc. (Morgantown, N.C.); Stokes County, N.C. Economic Development; Caldwell County, N.C. Government

Victor Wyatt PowerSouth Energy Cooperative

Glenn Youngkin Governor of Virginia

Patrick Zimmer Maxis Advisors J 94 SB&D SUMMER 2026 94

This is the last printed issue, but not the last good read about the people, the places, the projects that are changing the South.

For more information about the new SouthernBusiness.com, contact Michael Randle at (205) 370-6039 or michael@sb-d.com.

T E N TO P

DEALS

The American South’s 10 largest new or expanded manufacturing and selected non-manufacturing job announcements

TOP JOB AND INVESTMENT ANNOUNCEMENTS MADE IN THE SUMMER 2026 QUARTER Development 1. Morgan Stanley 2. Port Alpha/Saronic 3. NVIDIA/Corning 4. Celestica 5. Davie Defense 6. Jabil 7. Toyota 8. Starbucks 9. SMBC Group 10. Insight Global

Jobs *Investment 5,000 $1,300 ***3,333 $3,200 3,000 N/A 2,300 $300 2,400 $1,000 2,200 $119 2,000 $3,600 2,000 $100 2,000 $50 1,700 N/A

Development *Investment 1.SpaceX $55,500 2. Meta $50,000 3. Anthropic $19,000 4. Amazon $12,000 5. Amazon $12,000 6. Google $8,000 7. Toyota $3,600 8. Applied Digital $3,600 9. Shintech $3,400 10. Port Alpha $3,200

Jobs N/A N/A N/A 700 540 100 2,000 200 163 *3,333

**N/E/R R N N E N N E N N E

Location Dallas, Texas Brownsville, Texas Texas and North Carolina Richardson, Texas Port Arthur and Galveston, Texas Marshall County, Miss. San Antonio, Texas Nashville, Tenn. Charlotte, N.C. Dunwoody, Ga.

Description Financial services New port Optical fiber Data center infrastructure Shipbuilding Data center infrastructure Auto assembly Headquarters Financial services A.I. services

**N/E/R N E N N N N E N E N

Location Grimes County, Texas Richland Parish, La. Hawesville, Ky. Mississippi Caddo and Bossier Parishes, La. LaGrange, Ga. San Antonio, Texas Rapides Parish, La. Iberville Parish, La. Brownsville, Texas

Description Semiconductors Data center Data center Data center Data center Data center Auto assembly Data center Petrochemicals New port

*Investment in millions **N=New, E=Expansion, R=Relocation ***10,000 jobs were announced over 10 years; SB&D uses a three-year average. Source: Southern Business & Development 96 SB&D SUMMER 2026

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SOUTHERN ECONOMIC DEVELOPMENT HALL OF FAME l VOLUME 5 T H E

L A S T

P R I N T E D

I S S U E

Economic Development in the World’s Third Largest Economy

Wages, Riches Pitchforks

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