From major business investments to headline-making moves, February 2016 shows promise for economic deals in some of the largest industries in the U.S. Here are the top five investment deals from February 2016:
Athenex
The global specialty oncology pharmaceutical company announced it will invest $1.62 billion in a drug discovery and advanced manufacturing expansion in Buffalo, N.Y. that will result in 900 jobs in Dunkirk and 500 in Buffalo over the next 10 years. The project will include a headquarters expansion and creation of a 300,000-square-foot manufacturing Facility in Dunkirk. Athenex was founded at the University of Buffalo and expanded in 2003 after receiving funding from more than 100 area businesses. The company remains in the Buffalo are due to its ability to grow and thrive, government and local support, and business development environment.
Carlisle Companies
Phoenix received big economic development news when Carlisle Companies Inc. announced moving its headquarters from Charlotte, N.C., to Phoenix, Ariz. The Fortune 1000 company is a global manufacturer of products serving industries such as automobile, energy and health care. Carlisle Companies Inc. chose Phoenix due to its proximity to major customers, including the West Coast and Mexico – relocating will allow better access to these markets as well as the Asia Pacific. By the end of 2016, Carlisle will move 40 executives to Phoenix with an additional 120 new jobs added over the next year.
Jack Daniel’s Distillery
In Tennessee, Jack Daniel’s Distillery in Lynchburg is investing $140 million to expand its current facility. The iconic whiskey maker will modify and expand its bottling facility, as well as add two new barrelhouses. The Jack Daniel’s expansion is needed in order to keep up with increased demand, and the project will bring 30 new jobs to Moore County. The company has operated in Tennessee for 150 years and expanded just three years ago, with a previous $103 million investment that added nearly 100 new jobs.
2U Inc.
Tech education leader 2U Inc. is moving its headquarters from Prince George County to Landham, Md., a move that will create more than 900 jobs in Maryland over the next five years. The new state-of-the-art facility will support the company’s growth as it continues to partner with universities and launch new programs. The move stems from success in 2015 after 2U partnered with New York University and Yale University. To help with the new headquarters, the Maryland Department of Commerce is also providing a $2 million conditional load, and Prince George County is loaning 2U $1.5 million.
Shell Chemicals
In Geismar, La., Shell Chemicals has started construction on its $717 million linear alpha olefins manufacturing plant. With a completion date set for 2018, the project will retain 650 current jobs and add an additional 20 new direct jobs. The new facility will enable Shell Chemicals to become the world’s largest single-site producer of alpha olefins. The Geismar plant has been in operation for nearly 50 years and has undergone several expansions. Shell Chemical’s facility expansion is also expected to provide an additional 1,500 construction jobs.
