South Korean manufacturer to invest another $157M, create 240 new jobs in Memphis
The $157 million expansion includes a new facility at its Memphis campus at 1865 Riverport Road.
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The $157 million expansion includes a new facility at its Memphis campus at 1865 Riverport Road.
In 2024, ABB’s revenue in the U.S. was $9 billion, more than a quarter of the ABB Group’s total. The company, present in all 50 states, has 17,000 employees and 40 facilities nationwide.
Charms, a subsidiary of Tootsie Roll Industries, will employ almost 500 employees after the expansion is complete.
The grant program is meant to help “restore and revitalize some of Tennessee’s most historic buildings so that they once again can flourish.”
The three Memphis buildings were among 26 historic properties statewide chosen for the program, which aims to encourage investment in abandoned historic buildings.
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