Writer: Ryan Gandolfo
2 min read November 2022 — Clarksville-Montgomery has experienced a flurry of announced investment as both overseas and local companies look to expand their footprint in the region.
On Monday, Gov. Bill Lee and South Korea-based LG Chem officials announced plans to build a $3.2 billion new cathode manufacturing facility in Clarksville — the largest foreign direct investment (FDI) in state history, as cited by the official press release. According to a statement from Lee’s office, 860 new jobs are expected to be created in Montgomery County, with the plant slated to be in production by the second half of 2025.
The facility, which will be constructed on 420 acres at Clarksville’s Allensworth site, will produce cathode materials — a key ingredient for manufacturing electric vehicle batteries. The facility is expected to “rely completely on renewable energy provided by solar and hydroelectric power,” according to the statement.
Tennessee has developed into an EV hub in recent years, with intentional efforts from the Tennessee Department of Economic and Community Development (TNECD) and Clarksville-Montgomery County to bring in high-quality jobs. “As we continue our efforts to attract companies in the automotive industry, we are focused on supporting companies that boost Tennessee’s presence in the EV space,” said TNECD Commissioner Stuart McWhorter.
READ MORE: Ohio’s new EV battery plant marks a return to manufacturing roots
Outside of the automotive industry, investment in manufacturing facilities has spurred activity in Montgomery County. Earlier this month, Japan’s leading condiment producer, Kewpie Corporation, announced that the company will invest $65.2 million on new operations in the county seat of Montgomery County, creating 85 new jobs. Best known for its 500-gram squeeze bottles of mayo, Kewpie established its U.S. subsidiary, Q&B Foods, located in Irwindale, California, in 1982. Forty years later, its second operation is underway.
“We believe that in order for us to truly contribute, Kewpie must become a part of Tennessee as a corporate citizen and thereby contribute to the continued success of Tennessee over the long term,” said Shinya Hamasaki, senior corporate officer of Kewpie Corporation and CEO of Q&B Foods, in a press release. “We will do our best to ensure that the Kewpie brand in the United States will be supported strongly here as it is in Japan and to deliver the products from here in Tennessee.”
In addition to expansion announcements from East Asian corporations, local companies are also looking for ways to grow in their own backyard. Last week, Clarksville Now reported that Clarksville Foundry had purchased 26.9 acres from the Industrial Development Board (IDB), which “gives them room to grow” and “will get them into a better tenant mix in the Industrial Park,” according to Josh Ward, director of economic development at the IDB. Clarksville Foundry’s current site will be sold and redeveloped with the Vulcan Frosty Morn District. One of four proposed redevelopment districts in the county, the Vulcan site is part of the 2030 Smart Growth plan.
As businesses continue to set up roots in Clarksville, business leaders and educators have been collaborating on ways to prepare the future workforce. “We work with the Economic Development Council to not only determine student interests but also to see what businesses need and make those matches accordingly. That’s how we developed many of our programs, which have 32 career pathways for students in high-demand and high-paying industries right out of graduation,” Clarksville-Montgomery County School System Director of Schools Jean Luna-Vedder told Invest:.
Luna-Vedder said the national labor shortage has prompted businesses to get more creative about training workers. “It tends to be a barrier if students are under 18 years old and we are trying to find an internship or job experience program, so we work with partners in the county and state to figure out what these can look like. The labor shortage has incidentally drawn more flexibility and interest from businesses because they could use the extra help. It’s also a small investment with low risk and high reward, especially if that student has the opportunity to work there full time down the road,” she noted.
With a forward-thinking approach to workforce needs and the quality of life that’s often highlighted in the area, a formula appears to be in place to keep companies considering Clarksville for the near future.
READ MORE: No stopping Nashville — and Tennessee’s — advanced manufacturing sector
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