Site Selection Group: EV Industry Driving Massive U.S. Site Selection Projects Valued at $54 Billion

Site Selection Group: EV Industry Driving Massive U.S. Site Selection Projects Valued at $54 Billion Main Photo

25 Jul 2022


News

The automotive industry is going through a major transformation as it transitions into electric vehicle production. When combined with global supply chain reconfiguration, automotive manufacturers are driving massive site selection projects across the U.S. currently estimated to create $54 billion in capital investment and 62,000 jobs.

You should expect to see additional investment and job creation made by their suppliers as well. The projects to date include both vehicle and battery production. These projects are an economic developer’s dream and will transform the communities in which they locate. To help understand market activity, Site Selection Group has evaluated the latest EV projects around the country.

Click here to view the original article from the Site Selection Group.

Flipboard Icon

More Topics

Business North: Northland Foundation awards 46 quarterly grants Photo

Business North: Northland Foundation awards 46 quarterly grants

Jul 25 2022
The Northland Foundation made 21 grants to nonprofit organizations, schools, and Native nations as well as 25 Tech Boost initiative grants made to small businesses which underwent technology audits. The two largest grants last quarter were part of a special funding opportunity to support systems change work in the...Continue Reading
Duluth News Tribune: Minnesota Power, Great River Energy plan nearly $1 billion line connecting Iron Range, central Minnesota Photo

Duluth News Tribune: Minnesota Power, Great River Energy plan nearly $1 billion line connecting Iron Range, central Minnesota

Jul 25 2022
DULUTH — Minnesota Power and Great River Energy are planning to build a nearly $1 billion, 150-mile-long transmission line from the Iron Range to central Minnesota. On Monday, Minnesota Power, a Duluth-based utility owned by Allete, and Great River Energy, which provides electricity to cooperatives across Minnesota, announced it...Continue Reading
Golden Shovel Agency: Proving ROI in Funding Quality of Place Improvements Photo

Golden Shovel Agency: Proving ROI in Funding Quality of Place Improvements

Jul 25 2022
Proving ROI for quality of place improvements typically centers around job creation and talent attraction. Economic development organizations understand that if their community does not have the workforce, they will likely not attract new companies to their area or see expansions in their local industries. A community's quality of...Continue Reading