As many readers – and I-85 drivers – probably know, twelve years ago Kia Motors opened an assembly plant in West Point, Georgia. The plant was an economic development boon to the west Georgia community.
Two weeks ago, that plant was at the center of the car building universe as rumor spread that Apple might be partnering with Kia on its autonomous vehicle. A deal of this type would have been huge news for West Point. Earlier this week however, the parent company of Kia, Hyundai did their best to put those rumors to bed saying bluntly in a statement to Reuters “We are not having talks with Apple on developing autonomous vehicles.”
That statement quickly dropped the stock prices of Hyundai and Kia which had been up sharply on the rumors. Shares in the companies dropped by about $8 billion total. And like that, Georgia slipped back out of the autonomous vehicle news cycle.
It’s certainly not all bad news for Georgia on the car front, however.
While West Point makes a whole car, there are also a lot of places across Georgia that make pieces of cars, so much so, that Georgia was just ranked a top 10 exporting state for the first time. Automotive industry exports increased nearly 600% to Germany last year and more than 800% to China.
And now, a pair of announcements this week pledged more than $150 million in the car pieces industry.
Up in Rome, Integrated Fiber Solutions (IFS) announced that it was investing $30 million in expanding their operations there, creating an additional 40 jobs in Floyd County. IFS makes synthetic bulked continuous filament (BCF) for the carpet, rug and automotive industries. IFS was begun in 1986, born out of the carpet boom in north Georgia, and currently employs 600 people in Rome, Dalton and LaFayette.
“It’s always gratifying to see family-owned Georgia businesses continue to expand and create opportunities in their home state,” said Gov. Brian Kemp. “I extend my thanks to Integrated Fiber Solutions for continuing to reinvest in northwest Georgia and create solid manufacturing jobs for the hardworking people in Floyd County and the entire region.”
In Gainesville, Cottrell announced that it was investing $125 million in a new 500,000 square-foot facility. Cottrell has been around in Gainesville for nearly 50 years and is one of the top manufacturers for over-the-road car haulers and equipment. It employs more than 1,000 people in Gainesville.
“Hall County has been an extraordinary place to grow our business, and we are excited to continue our next phase with the people of this community,” said Cottrell CEO Danny Zink. “This new state-of-the-art expansion will allow Cottrell to meet and exceed customer and employee needs and expectations for decades to come.”
“I am incredibly proud of our Georgia businesses and our state agencies who have dedicated so much time and effort to help Peach State businesses of all sizes push forward in 2020,” said Kemp. “Over the last year, hardworking Georgians showed their tenacity and their determination to transform obstacles into opportunities.”
