Savannah Chamber

27 regional economy. Over 83% of the manufacturing growth has been at employers in the transportation equipment sector, in other words, at Gulfstream, at the Hyundai Metaplant, and at supply chain firms for the Metaplant. It is incidentally noted that "payroll" employment growth in the regional manufacturing base for all of 2024 indicates a gain of about 600 workers (+2.6%). This starkly illustrates the limitations of the "payroll" data survey methodology as compared to the actual comprehensive headcount of workers. The survey methodology generally fails to capture inflection points (substantial deviations from trend, up or down) in the actual data because of the data lags built into the methodology. When changes in trends are minimal, the two employment figures converge, but when notable trend changes occur (Hyundai and Gulfstream growth), the two data programs measuring employment diverge. Subsequent benchmark revision of the less accurate "payroll" data occurs in the Spring of each year when the headcount "covered" employment data for the full previous year becomes available. A review of recent activity and announcements from headlining companies in the sector points toward another strong year for manufacturing in 2025. The Savannah Harbor-Interstate Corridor Joint Development Authority (Savannah JDA) consisting of Bryan, Bulloch, Chatham and Effingham counties continued to work with Hyundai Motor Group Metaplant America (HMGMA) to finalize the development of the Bryan County Megasite, the home of HMGMA. Hyundai Motor Group along with LG Energy Solution have announced a total of 8,500 new jobs and $7.59 billion in capital investment at the Metaplant. The Hyundai Metaplant is the first fully-dedicated electric vehicle manufacturing facility in the state and the largest economic development project in Georgia history. Not even two years after breaking ground and ahead of their projected schedule, HMGMA officially began production during October of 2024 thanks in part to the Savannah JDA's timely site preparation of the Bryan County Megasite. The first electric vehicle to roll off the assembly line was an IONIQ 5, one of several models of Hyundai, Genesis and Kia vehicles that will be produced at the Bryan County facility. An official grand-opening celebration is scheduled during the first quarter of 2025. More than 1,100 employees have already been hired at the plant as "meta-pros" with a large majority being hired from within a 60- mile radius. Additionally, HMGMA, in cooperation with Glovis America, announced it will initially deploy 21 Hyundai XCIENT heavy- duty hydrogen fuel-cell electric trucks for clean logistics operations. Gulfstream Aerospace Corporation is the largest private employer in Savannah with a global workforce of 19,000+ workers in production, service, maintenance, engineering, and research and development. Gulfstream aircraft attained new milestones in 2024. The company was awarded a $991 million contract to offer logistics support services to its special missions aircraft in service with the US Ari Force, Navy, Marine Corps, Army and Coast Guard. Gulfstream completed a $150 million expanded customer service support center at the Savannah/Hilton Head Airport that officially opened July 2024, creating over 200 new jobs and the expansion of the maintenance, repair, and overhaul facility capabilities. The expansion increases the footprint of the service center to 1.1 million square feet with the capacity to concurrently accommodate more the 85 aircraft in ten hangars. Gulfstream continues development of its fleet of aircraft. The first fully outfitted G800 flight took place in 2024 and is completing the testing procedures for the cabin interior and aircraft performance of the industry's longest range business-class jet. Initial deliveries of the G700 began in April 2024 after FAA certification and the aircraft recently set 65 city-pair speed records for the quickest travel times between pairs of cities. Further, the G700 received European Union Aviation Safety Agency certifications, creating opportunities for future international deliveries. The G650 and G650ER each surpassed 1 million flight hours for the aircraft that entered service in 2012 and 2014, respectively. The G500 and G600 aircraft each surpassed 100,000 flight hours, thus simultaneously demonstrating high global demand and the durability and dependability of the aircraft. Gulfstream completed the first successful flight of the new G400, thus launching the flight test program for the aircraft. JCB's North American headquarters, centered in Savannah, is a 500,000-square-foot facility to support a network of over 115 dealers in the U.S. and Canada. In March of 2024, JCB was awarded a $39 million contract with the United States Marines Corps to deliver 206 units of the 3TS-8T Teleskid, a skid-steer and compact truck loader designed and manufactured in Savannah. In October 2024, the global headquarters announced JCB had produced its one millionth engine since commencing operations in the U.K in 2004. The Savannah Economic Development Authority (SEDA) had yet another successful year in 2024 as they continued to work with regional partners to attract new jobs opportunities and investment to Chatham County. SEDA announced six new companies in 2024 including Mana Nutrition, Armstrong Logistics, F. List GmBH, GigaCloud Technology, RCO Aerospace and Win.IT America. Savannah also saw growth from existing industries such as NGL Transportation and DSI. SEDA also helped accelerate three Tier

• Cover