Savannah Chamber

2023 Economic Trends Brochure

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30 record-setting year for SEDA. SEDA helped facilitate 9,263 new job opportunities and over $6 billion in investment for the year, the highest investment announced in SEDA's history. The Hyundai Metaplant will generate numerous new manufacturing announcements for SEDA and the JDA in 2023. In moves that support the region's manufacturing base, World Trade Center Savannah hosted 14 Global Education Programs with more than 830 registrants in 2022. Despite the various trade restrictions still in place, World Trade Center Savannah traveled to Ireland and hosted nine inbound delegations. Savannah and SEDA also received notable accolades in 2022. Savannah was ranked a Top Five Industrial Market to Watch by Cushman and Wakefield. and was also ranked top 5 Logistics Leader by Business Facilities. And lastly, SEDA was awarded the 2022 McKinley "Mac" Conway Award for Excellence in Economic Development for the fourth year in a row by Site Selection magazine. For 2023, SEDA will continue to serve the region by marketing and attracting Tier I, Tier II and Tier III HMGMA suppliers and serving the existing industries. SEDA will also continue to market the Savannah Chatham Manufacturing Center to targeted audiences, including HMGMA and Gulfstream suppliers, and partner in the construction of additional road and utility infrastructure to support the full build-out of the industrial park. Bryan County has experienced unprecedented economic development success in 2022. The headlining development, mentioned above, was the Hyundai Motor Group announcement for north Bryan County. The announcement was the result of exceptional cooperation among the development agencies of Bryan, Bulloch, Chatham, and Effingham Counties through the Savannah Harbor I-16 Corridor Joint Development Authority (JDA) along with state and utility partners. In addition, six projects announced new locations in Bryan County, representing total investment of nearly $7 billion and over 11,000 new jobs. With one exception, these announced projects are all either manufacturing or light assembly projects. In addition to the Hyundai Metaplant, the manufacturing projects include Norma Precision, a subsidiary of Beretta that will manufacture and distribute ammunition in Interstate Centre III; Komar Brands, a distribution and light assembly center for polo products that will also be located in Interstate Centre III; Hyundai Mobis, a supplier of Hyundai that will manufacture electric vehicle power electric systems in Belfast Commerce Park in Richmond Hill; and Kiss USA, a manufacturer and distributor of cosmetic products that will purchase a building in The Cubes at Interstate Centre II for a manufacturing and distribution center. Bulloch County manufacturing employment was approximately 2,309 in mid-2022, an 18% increase from 2021. New industrial project commitments in Bulloch County in 2022 represent 951 employees and $692 Million in private investment. Joon, Georgia announced the first Hyundai supplier location decision at the Bruce Yawn Commerce Park. Joon manufactures body parts for Hyundai and other automotive OEMs. This project has committed 630 jobs and $317 million in investment. Aspen Aerogels will locate a new manufacturing facility at Bruce Yawn Commerce Park. The facility will manufacture thermal/fire retardant blankets to surround battery compartments for the EV industry. The project represents a commitment of 250 jobs and $325 million in capital investment on 90 acres. Revalyu Resources, an environmentally friendly recycling company, will invest $50 million in a new PET plastic recycling facility in Gateway Regional Industrial Park. When fully completed the site will be capable of processing more than 200 tons per day of used plastic bottles into high quality sustainable PET polymers. This facility will employ 71 people. Effingham County's manufacturing employment increased 6% to 1,770 persons in 2022. Effingham County's project inquiries and community visits remained stable in 2022, and the majority of new project activity occurred in the second half of the year following the announcement of Hyundai Motor Group Georgia in the Savannah region. The Effingham County IDA continues to work closely with existing industries, education partners, and service providers to find solutions to workforce challenges within the region. Since the Hyundai plant

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