Volkswagen’s announced expansion of its Chattanooga plant last July was among the top 10 business deals of 2014, according to Site Selection magazine.
In its annual Best to Invest rankings, the business publication rated the $600 million expansion of the Chattanooga VW plant No. 10 among the biggest business deals announced during 2014. Volkswagen plans to add 2,000 jobs — and should generate thousands of other spinoff jobs — from its decision to begin making a sports utility vehicle by 2017.
The Top Deals of 2014 were determined by the amount of capital investment and job creation connected to private-sector facility investment projects around the world during the 2014 calendar year tracked in Site Selection’s proprietary New Plant Database.
“Vehicles, energy, high-tech and Elon Musk dominate this year’s lists,” said Adam Bruns, managing editor of Site Selection, who led the compilation of the Top Deals and Honorable Mention lists for North America and internationally.
Site Selection magazine, published by Conway, Inc. since 1954, delivers expansion planning information to 48,000 subscribers.
TOP NORTH AMERICAN DEALS IN 2014:
1. Alevo, Concord, N.C., $1 billion, 2,500 jobs
2. BMW, San Luis Potosi, Mexico, $1 billion, 1,500 jobs
3. Giti Tire, Richburg, S.C., $560 million, 1,700 jobs
4. Northrop Grumman, Melbourne, Fla., $500 million, 1,800 jobs
5. Renault-Nissan Alliance/Daimler, Aguascalientes, Mexico, $1.4 billion, 5,700 jobs
6. Shandong Tranlin Paper, Richmond, Va., $2 billion, 2,000 jobs
7. SolarCity, Buffalo, N.Y., $5 billion, 1,450 jobs
8. Tesla, Reno, Nev., $4 billion, 6,500 jobs
9. Toyota, Plano, Texas, $350 million, 4,000 jobs
10. Volkswagen, Chattanooga, $600 million, 2,000 jobs