Top Deals of 2023
Based on indexed capital investment and job creation numbers, we present the top 20 economic development deals of 2023 in North America and top 20 abroad.
Employees from Hyundai got in on the action at the 200th anniversary St. Patrick’s Day Parade in Savannah in March. The start of production at the $7.59 billion, 8,500-job Hyundai Motor Group Metaplant America rising alongside I-16 has accelerated to the fourth quarter of 2024.
Photo courtesy of Hyundai Motor Group Metaplant America
L
ike flickering lights, intermittent doubts put some folks on edge about the viability of the EV revolution. Judged by the capital investment, job creation, turning dirt and rising steel at projects around the world, however, the current is strong and steady.
Continuing a trend from the year before, investments in the industry dominate this year’s Top Deals of the Year, determined by a points system driven by corporate facility investment and affiliated job creation as tracked by Site Selection’s Conway Projects Database.
The Mountaineer GigaSystem™ planned by Fidelis New Energy for Point Pleasant in Mason County, West Virginia, includes “Hyperscale Carbon Neutral Data Centers providing both production and consumption of lifecycle carbon neutral hydrogen.”
Rendering courtesy of Fidelis New Energy
The Top 20 Deals of 2023 in North America and Top 20 Deals from everywhere else are presented here in ranked order by total points earned. Project locations are identified by specific community and by metro region where applicable.
Intel in June signed a revised letter of intent with the German federal government for a site in Magdeburg, Saxony-Anhalt, that will include two wafer fabs and an investment of more than €30 billion ($31.8 billion).
Rendering courtesy of Intel
Also rising in prominence — and intricately tied to vehicle manufacturing — are multibillion-dollar investments from the semiconductor sector, whether at fabs in places such as Intel’s planned $31 billion site in Magdeburg, Germany, or at locations operated by companies in the supply chain, such as leading assembly, packaging and testing firm Amkor’s $2 billion, 2,000-job project in the Greater Phoenix community of Peoria, Arizona.
Micron’s plans to invest $2.7 billion and create 5,000 jobs at a new fab in Sanand, Gujarat, India (Ahmedabad), build on a presence in India that includes a global development center in Hyderabad (pictured).
Photo courtesy of Micron Technology
Texas Instruments in June 2023 announced plans to expand its internal manufacturing footprint in Malaysia with two new assembly and test factories in Kuala Lumpur and Melaka.
Rendering courtesy of Texas Instruments
Adam Bruns
Editor in Chief of Site Selection magazine
Adam Bruns is editor in chief and head of publications for Site Selection, and before that has served as managing editor beginning in February 2002. In the course of reporting hundreds of stories for Site Selection, Adam has visited companies and communities around the globe. A St. Louis native who grew up in the Kansas City suburbs, Adam is a 1986 alumnus of Knox College, and resided in Chicago; Midcoast Maine; Savannah, Georgia; and Lexington, Kentucky, before settling in the Greater Atlanta community of Peachtree Corners, where he lives with his wife and daughter.
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