ETOWAH, Tenn. — Tennessee Governor Bill Lee, Department of Economic and Community Development Commissioner Stuart McWhorter and Piedmont Lithium officials announced the company will invest $582 million to establish a lithium hydroxide processing, refining and manufacturing facility in McMinn County, according to a release from the state.
Officials said Piedmont will create 117 new jobs in Etowah through the company’s expansion to Tennessee at the North Etowah Industrial Park, a CSX and Select Tennessee Certified Site.
“Companies like Piedmont choose to call Tennessee home because of our unmatched workforce and strong business climate. I thank this company for its investment in McMinn County and commitment to create nearly 120 manufacturing jobs for Tennesseans," Lee said in a statement.
As a producer of lithium hydroxide, a critical component in the supply chain for both the electric vehicle and battery storage markets, Piedmont’s Tennessee Lithium project will support energy security in the U.S. and the transition to a clean energy economy in North America, according to a release.
“Centrally located within the southern automotive corridor, Tennessee continues to attract companies in the electric vehicle industry. We believe McMinn County will be the ideal location to support Piedmont‘s growth and success and appreciate this company’s significant investment in rural Tennessee. Thank you to the local community and our partners at CSX for their support in making this win a reality," TNECD Commissioner Stuart McWhorter said in a statement.
Officials said the new manufacturing plant will utilize more environmentally responsible and economic processing technology, supporting Piedmont’s objective of becoming a large, low-cost, sustainable producer of lithium products.
“We are excited to announce the site of our newest project and partnership with the City of Etowah, McMinn County and the State of Tennessee as we advance our strategic goal of becoming a leading lithium supplier to the U.S. We are humbled by the warm welcome we have received from our new partners, and we look forward to making Piedmont an integral part of the Etowah and McMinn County communities as we develop Tennessee Lithium together for our mutual success," said Keith Phillips, CEO and president of Piedmont Lithium.
Piedmont is a battery-grade lithium hydroxide producer founded and headquartered in Belmont, North Carolina, according to the release. The company’s North Carolina and Tennessee operations, along with its equity interests in international projects, will help establish North America as a key global producer of lithium hydroxide.
Officials said since 2018, TNECD has supported more than 50 economic development projects in the Southeast Tennessee region, resulting in approximately 7,500 job commitments and nearly $3 billion in capital investment.
