Global auto parts manufacturer Magna International will spend $16 million to build its fifth Tennessee factory just north of General Motors' Spring Hill complex — which is getting two new models in the coming years — where it will build seat assemblies. The company, which also runs a plant in Columbia, plans to hire 357 people for Spring Hill over the next two years, with 75 workers to start. And it is moving quickly to get ready for GM: Its new 122,500-square-foot facility is expected to be up and running by January.
"This new facility demonstrates our commitment to GM in delivering high-quality products through our world-class manufacturing initiatives," said Mike Bisson, president of Magna Seating. "We are pleased to support our customer and look forward to potential growth opportunities."
Magna is one of the bigger names in the auto supplier sector. The company runs more than 60 manufacturing or assembly plants across the United States and employes more than 23,000 people.
Federal Deposit Insurance Corp. regulators in late July barred Art Helf, a co-founder and former chairman and CEO of Tennessee Commerce Bancorp, and Lamar Cox, who was at times chief administrative officer, CFO and COO at the failed bank, from holding any position of authority in a financial business under the agency's purview. Helf, on the left in our photo, and Cox are the second and third former execs of Tennessee Commerce to come under regulatory fire: Earlier this year, the FDIC said it was going after former CEO Mike Sapp for alleged breaches of his fiduciary duty. The orders against Helf and Cox, which were made public late last week, came after both men waived their right to a hearing on the FDIC's charges but neither admitted to nor denied those claims.
Southern Care Inc. owner Richard Chavez has submitted plans to Franklin officials to build an assisted-living center behind the Williamson Square shopping center on Highway 96 in Franklin. The complex is planned to comprise 68 rooms as well as a row of townhomes. Michael Ackley has more at Franklin Homepage.
A Florida-based developer wants to build a hotel/sports facility complex in Lebanon's Cumberland Center area off Interstate 40. GoodSports Enterprises Global is building or planning similar projects in Indiana, Kansas, Missouri and Ohio. The proposed project in Wilson County would comprise a 115-room hotel and a 60,000-square-foot indoor sports center.
The new owners of the Franklin Marriott Cool Springs have brought on board Memphis-based Davidson Hotels & Resorts to manage the high-profile property and its adjacent publicly owned conference center. Crow Holdings Capital snapped up the 300-room hotel earlier this summer and plans to pump a lot of money into a comprehensive renovation of guests rooms and public spaces. The two companies have worked with each across the country for more than a decade.
Tennessee Department of Economic and Community Development officials say another eight sites around the state have been certified with the Select Tennessee tag, meaning they've been vetted as ready for big-scale development. Among them is the Cherry Glen Industrial Park in Mt. Pleasant, southwest of Columbia.
Agero Inc., a Massachusetts-based company that markets roadside assistance and safety services, plans to add more than 100 people to its Clarksville call center. The company will hire its new employees throughout this year at the facility, which opened almost two years ago. Agero officials say they're also hiring for their Florida, Arizona and Ontario operations.
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