Advanced Munitions International Invests $553 Million To Establish Alcoa, Tennessee, Manufacturing Hub
The company will invest $553 million in a new campus for its manufacturing, distribution and R&D operations and create 605 new jobs. The company expects to break ground on the 235-acre site this spring and to open in the fourth quarter of 2018. Company executives cited the proximity and resources of the Oak Ridge National Laboratory as a deciding factor in choosing to locate in Tennessee.
AMI is known in the firearms industry for its HPR Ammunition brand, a specially formulated ammunition that employs proprietary technology. The company supplies ammunition to the military, law enforcement and civilian markets. Their Alcoa plant will hire primarily chemists and engineers with backgrounds in metallurgy, engineering, physics and energetics technology.
“When we looked nationally for a site to build this facility, Tennessee stood out as a place with leaders that understand and support strong business growth,” said Jim Antich, AMI Founder/Executive Chairman. “Having a resource like ORNL nearby also attracted us to Tennessee and Blount County. We are looking forward to a long relationship with Tennessee and to working with our new neighbors.”
“The East Tennessee region has terrific resources for companies that need access to institutions with R&D to commercialize and employees with high-tech skills,” Economic and Community Development Commissioner Randy Boyd said. “Tennessee has a long history of manufacturing excellence that fits perfectly with AMI’s needs. I want to thank AMI for choosing Tennessee and for the jobs they will create.”
“Attracting and retaining good jobs and quality investments in our region is a fundamental part of TVA's mission,” said Bill Johnson, President/CEO of the Tennessee Valley Authority. “We appreciate the opportunity to partner with Alcoa Electric Department and the many other organizations involved in helping Advanced Munitions invest in the Tennessee Valley.”
"AMI officials visited the lab during the recruitment process, and we are excited that they have chosen to call East Tennessee home," said Jeff Smith, Deputy Director for Operations at ORNL. "ORNL has resources to offer any company dealing in advanced materials, and we are looking forward to a long partnership with AMI as well as calling them neighbors."
"Once again, the collaborative efforts of the Blount Partnership, the state of Tennessee, the city of Alcoa and many others have produced a win - win environment for our regional community,” added Alcoa City Mayor Don Mull. “This announcement speaks volumes in support of our efforts at local cooperative processes. We welcome with open arms the AMI corporate family into our community and look forward to forging long lasting, mutually productive relationships."
"We welcome AMI to Blount County and celebrate the fact that this announcement brings our jobs and capital investment total this year to 1720 and $982 million, respectively,” added Blount Count Industrial Development Board Chair Fred Lawson. “But going back five years, Blount County has seen nearly 4000 jobs and over $1.4 billion of capital investment come into this community, making it one of the most successful areas of development in the country."
Why are Foreign Trade Zones Making a Comeback?
34th Annual Corporate Survey & the 16th Annual Consultants Survey
Infrastructure Investment as an Economic Stimulus Tool
The New Normal in the Automotive Supply Chain
2020 Auto/Aero Site Guide
Nondisclosure Agreements Best Practices When Negotiating Incentives
2019 Top States for Doing Business: Georgia Ranks #1 Sixth Year in a Row