Three Investment Projects Coming to Georgia Totaling $1.59 Billion Announced Last Month

During the month of May, the Georgia Department of Economic Development (GDEcD) announced that three companies are investing a combined total of $1.59 billion to establish new business operations in the Peach State.

On May 15, GDEcD announced that Anovion Technologies, which supplies premium synthetic graphite anode materials for lithium-ion batteries, will build a new manufacturing facility in Bainbridge. The project is expected to create more than 400 jobs and over $800 million in investment in Decatur County.

“We are thrilled to be opening our first large-scale expansion manufacturing facility in Georgia,” Eric Stopka, CEO of Anovion stated. “The state’s strong technical workforce and top-tier schools will help advance research partnerships and contribute to a highly skilled talent pipeline in support of Anovion’s drive for continued innovation and creation of exciting climate technology jobs of the future.”

The week after GDEcD announced Anovion Technologies’ investment, the department revealed that Hanon Systems, a global provider of automotive thermal and energy management solutions, will create 160 new jobs and invest more than $40 million in a new manufacturing facility in Bulloch County. The facility will focus on assembling automotive thermal solutions

The automotive parts manufacturing company’s newly-announced operations are expected to begin in May 2024, according to GDEcD.

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“We are pleased to be contributing to the local economy of Bulloch County through job creation, and thank the State of Georgia and the cooperation between its agencies that has guided us throughout this project,” Min Sung, President and CEO of Hanon Systems said in a statement.

The third May investment project announced is a $750 million investment from ADMARES, a home manufacturing company, which plans to construct its first U.S. manufacturing facility in Ware County.

ADMARES, which specializes in industrialized manufacturing of buildings and homes, will construct a 2.5-million-square-foot build-to-suit manufacturing facility in Waycross to specialize in producing buildings for the housing sector, according to DGEcD.

“In addition to exploring opportunities in other states, Waycross, Georgia, is an ideal location for a transportation hub with easy access to major highways and extensive rail connections,” Mikael Hedberg, Founder and CEO of ADMARES stated. “Its proximity to the Port of Brunswick, one of the busiest ports on the eastern seaboard, offers a competitive advantage for global trade. Waycross’ strategic location and robust infrastructure make it an attractive destination for us in the region.”

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Kaitlin Housler is a reporter at The Georgia Star News and The Star News Network.
Photo “ADMARES Facility” by Georgia Department of Economic Development.

 

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