Intellizence has curated top business expansion announcements by leading companies across key sectors. There were multi-billion dollar investments in existing and new businesses in May 2021.
Some of the companies that announced major expansions in May are:
Hyundai & Kia ($7.4 billion)
Hyundai Motor Company and Kia Corp invest $7.4 billion in the U.S. by 2025 to produce future EVs, enhance production facilities, and further their investments in smart mobility solutions. This investment will enhance overall product competitiveness by prioritizing future mobility technologies, including electrification and hydrogen energy.
BioNTech expands its global footprint to Asia with the establishment of its regional headquarters in Singapore and a fully integrated mRNA manufacturing facility. The new facility will provide regional, and global supply capacity of BioNTech’s growing pipeline of mRNA-based product candidates, as well as a rapid response production capability for southeast Asia to address potential pandemic threats.
Moderna, a biotechnology company pioneering messenger RNA (mRNA) therapeutics and vaccines, will expand its Moderna Technology Center (MTC) biomanufacturing campus in Norwood, MA, a southern suburb of Boston, to about 650,000 square feet. This doubling of space will transform the facility from a production and lab space to an industrial technology center.
Serum Institute of India (£240 million)
Serum Institute of India (SII), the world’s largest vaccine manufacturer, is expanding its vaccine business in the United Kingdom with an investment of £240 million, creating 6500 jobs. Serum’s investment will support clinical trials, research & development, and possibly manufacturing of vaccines.
Samsung Electronics ($151 billion)
Samsung Electronics is planning to increase its investment in logic chip businesses through 2030 to a total of 171 trillion won, approximately $151 billion. The South Korean tech giant has two logic businesses, Samsung System LSI and Samsung Foundry. By adding more investment, an expansion for its Foundry unit will help fuel entire new industries built on next-generation technologies like AI, 5G, and autonomous driving. Samsung Electronics is also planning to invest $17 billion for a new plant for chip contract manufacturing in the United States.
Intel Corporation will invest $3.5 billion to equip its New Mexico operations for the manufacturing of advanced semiconductor packaging technologies, including Foveros, Intel’s breakthrough 3D packaging technology. This investment is expected to create at least 700 high-tech jobs and 1,000 construction jobs and support an additional 3,500 jobs in the state.
Ardagh Group ($195.5 million)
Ardagh Group will invest $195.5 million in its beverage can manufacturing plant in Winston-Salem and create 94 new high-paying jobs. This will strengthen its tax base without occupying available economic development sites.
Whirlpool ($15 million)
Whirlpool Corporation is investing $15 million into its factory in Tulsa, Oklahoma, as part of the company’s ongoing efforts to further strengthen its US manufacturing capabilities and bring even more innovation, top-ranking consumer products, and high-quality jobs to the region.
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Amazon.com plans to open its first robotics fulfillment center in Louisiana, creating over 1,000 new full-time jobs. In the new 650,000 square-foot fulfillment center, Amazon employees will pick, pack, and ship smaller customer items such as books, toys, electronics, and other household items.
Walmart has purchased US telehealth provider MeMD and plans to offer virtual healthcare across the US, including urgent and behavioral care on top of the usual primary services. The new offering will serve as a complement to Walmart Health’s in-person help.
Telus ($54 billion)
Telus, the Canadian national telecommunications company, will invest an additional $54 billion in infrastructure and operations across the country through 2024 to further the country’s economic recovery.
With this investment, Telus will create 38,000 job opportunities for Canadians in the next four years. Moreover, the deployment of 5G will create 250,000 jobs and contribute $150 billion to Canada’s economy over the next 20 years.
Yondr Group ($2 billion)
Yondr Group, a global leader, developer, owner-operator, and service provider of hyperscale data centers is planning a $2 billion investment in data center infrastructures across the United States, Canada, Central, and South America.
Google ($735 million)
Google plans to build a $735 million CAD data center in Beauharnois, Québec. The data center will generate well-paid jobs both during construction and in the operation of the future data center.
Google is also opening its first-ever physical retail store in Manhattan’s Chelsea neighborhood. It will sell products such as Google’s Pixel phones, Nest smart thermostats, and Fitbit wearable devices.
YouTube ($100 million)
YouTube has announced a $100 million fund to pay people who post videos on its TikTok competitor, Shorts. YouTube is the latest to use a designated creator fund to try and court influencers on its mobile platform. Google-owned YouTube is trying to grow its user and creator base for its short-form video product, which is the company’s answer to mobile-first social media competitors like TikTok, Snap, and Instagram’s Reels.