Oglethorpe Power will break ground on a new combined-cycle plant in Forsyth in Monroe County, Georgia. This two-unit, approximately 1,200-megawatt facility will be built on land the company owns, adjacent to the Smarr Energy Facility, an existing natural gas-fired simple-cycle combustion turbine plant that they operate. The development of this new facility will represent a capital investment of approximately $2 billion in Monroe County.

In Talbot County, Oglethorpe will begin construction on a new combustion turbine unit at its existing plant in Box Springs, Georgia. This new, approximately 240-megawatt unit, which will be the seventh unit at the Talbot Energy Facility, is expected to be the most efficient natural gas peaking plant in its fleet. The unit will also feature dual-fuel capability, enhancing year-round resiliency. The development of this new unit will represent a capital investment of approximately $360 million in Talbot County.

Oglethorpe provides power for Georgia’s 38 electric cooperatives.

John Deere will invest about $70 million to build a new 380,000-square-foot factory in Kernersville, an expansion of its John Deere Kernersville, NC campus. The factory will produce small, 6-10 metric ton, excavators and is expected to add about 150 new jobs. Currently, about 600 salaried and production employees work at the Kernersville campus.

“Kernersville has been an ideal location for John Deere for more than 35 years,” says John Deere’s Steve Brewer. “We are excited to further invest in our future-generation excavator portfolio and grow our engaged team.”

The company’s history of building excavators in Kernersville is supported by the city’s proximity to key markets and strong infrastructure with excellent connectivity to highways, seaports, and airports. With 50% of the North American small excavator industry located in the Southern US, Kernersville is close to customers and key suppliers. 

Construction of the new Deere factory is expected to begin in late 2024. 

An off-site construction services company is spending $40 million on a new factory in the Town of Siler City. The town, of less than 10,000, is between Raleigh and Greensboro on US Hwy 421 and 64. Innovative Construction Group (ICG) expects to establish a new manufacturing facility in Chatham County and the Town of Siler City. The company’s capital investment will create as many as 157 jobs over the next five years.

Innovative Construction Group serves building professionals focused on single-family, multi-family, and commercial construction projects. The company provides design services, manufactures wall panels, roof trusses and floor systems, and offers on-site installation to provide a full frame shell construction process. 

ICG’s project in North Carolina will be facilitated, in part, by a Job Development Investment Grant approved by the state’s Economic Investment Committee. The project’s plans are also subject to receiving local incentives approvals and finalizing real estate negotiations. 

Shoals Technologies Group is investing $80 million to expand its manufacturing and distribution center in Sumner County.

The Nashville Business Journal reports the expansion will add 550 new jobs to the region, bringing the company’s local headcount to 1,400. The company is moving its operations to a 638,000-square-foot plant at 1500 Shoals Way as part of the expansion.

The Portland-based company makes products for solar panel installations, such as fuses and cable assemblies, as well as battery storage and electric vehicle infrastructure. Shoals Technologies Group says on its website it is the leading electrical balance of systems (EBOS) provider for solar, energy storage, and eMobility. Although the business has been around 27 years, it went public in 2021.

It’s unclear if the company received any incentives for the investment. State grants are revealed 30 days after a public announcement. 

Engine maker Cummins Inc. will invest $580 million into its Rocky Mount facility off Highway 301. The move will help Cummins work toward its long-term goal of emitting zero carbon emissions across its products, as the investment will go to installing new equipment and upgrading the assembly line “for next-generation products,” the company said in a press release. Cummins said the move will create roughly 80 jobs. 2,000 workers currently are employed at the factory. The plant has been in operation since 1983.

The Nash County Board of Commissioners approved incentives for the project. The county is appropriating 50% of the net increase in ad valorem taxes to the company due to the company’s investment between April 2026 and April 2032. That appropriation will total roughly $7 million.

Korea-based LG Chem has started work on the company’s 420-acre site in Clarksville, northwest of Nashville. LG Chem is investing $3.2 billion to build factories to make cathode material for batteries that will power electric vehicles. The cathode is a compound consisting of nickel, cobalt, manganese and aluminum. They hope to make enough to power 600,000 all-electric vehicles at a charge distance of more than 300 miles.

LG Chem’s investment is the largest investment by a foreign company in Tennessee history. The company expects to hire 860 workers over several years. Wages start at $24 an hour, and 200 jobs will pay $100,000 or more a year.LG Chem is spending half of its $3.2 billion in an initial round of construction. Production is set to begin in 2026. The plant will be built by JE Dunn Construction Co.