6 Economic Development Wins For Randy Boyd
Randy Boyd is stepping down as commissioner of the state's Department of Economic and Community Development at the end of January (and maybe make a run for governor). During his two-year stint in the job, he's overseen a number of economic development wins for the state, totaling $11B in capital investment. Here are six examples involving Middle Tennessee in 2016 alone.
1. Advance Auto Parts is locating a new distribution center in La Vergne. The automotive aftermarket parts provider will invest $24.5M in Rutherford County.
2. Lowe’s will build a new direct fulfillment center in Robertson County. The home improvement company expects to invest $100M in Coopertown, northwest of Nashville. The facility will measure 1.1M SF and be operational by Q3 2018, shipping parcel packages to Lowe’s customers and stores nationwide.
3. CKE Restaurants Holdings decided to relocate its corporate HQ from Carpinteria, CA, to Franklin. CKE, parent to the Carl’s Jr. and Hardee’s sister chains, will invest $5M in its new Williamson County HQ.
4. General Motors is investing $788M for a new high-efficiency engine program and to modernize the vehicle programs at the company’s Spring Hill manufacturing plant. The project brought GM’s total investment in the Spring Hill plant in 2016 up to more than $936M, and over $2B for Spring Hill since 2010.
5. Vantage is investing $5M to establish a manufacturing plant in Nashville. Vantage is a startup created by the founders of Crye Precision, a design and manufacturing firm headquartered in Brooklyn. Crye has been designing and producing apparel, armor and other equipment for the military, law enforcement and civilian markets since 2000.
6. Warner Music Group will expand in Nashville over the next two years, bringing its U.S. finance team to the area. After undergoing renovations, WMG’s new Nashville office Downtown will open in mid-2017. The company's longstanding presence on Music Row will remain at its current location.