The Composites Institute (IACMI), managed by Collaborative Composite Solutions Corporation (CCS) recently released its 2016 Tennessee report outlining accomplishments and overall investment in local communities. The Institute, which is headquartered in Knoxville and spans across six core investor states including Tennessee, works to support advanced composite technology and grow capital investment and manufacturing jobs in the U.S. composites market.
In 2016, Tennessee companies announced that more than $140M in capital investment and over 400 new manufacturing jobs in Tennessee are significantly attributable to support by IACMI and/or the Tennessee Core, which consists of the Oak Ridge National Laboratory, the University of Tennessee, Knoxville and the Vanderbilt University research facilities. Additionally, in 2016, employment and subcontracts accounted for approximately 30 full-time jobs in Tennessee.
This past year, IACMI collaborated with Tennessee companies on significant technology projects ranging from working with Ford and Dow on composites in commercialized vehicle components to 3D printing technology with the Knoxville Local Motors “microfactory”.
IACMI spent 2016 continuing its strong emphasis on growing regional economic ecosystems to serve its core market sectors including automotive and wind. A critical part of supporting regional economic ecosystems includes investing in local training and education. In 2016, 595 elementary and high school students participated in IACMI sponsored events. Another 172 students, interns, technicians, business owners, and others benefited from hands-on demonstrations and workshops in Tennessee. Additionally, IACMI hosted 15 summer interns, four in Tennessee.
The trained workforce and access to research and development capabilities for advanced composites have led several companies to invest in the east Tennessee area through corporate headquarters selection or facility expansion. Two key announcements in 2016 reflecting the strong economic impact included LeMond’s grand opening where it announced a $125 million dollar investment and commitment to create over 240 jobs in its Tennessee factory and the announcement of HTS IC’s $21.4 million dollar investment expected to create over 200 jobs.
In 2017, additional economic development related announcements are expected from at least two IACMI members and the expansion of an existing internship program will directly impact the depth of training at the University of Tennessee, Knoxville Fibers and Composites Manufacturing Facility and Engineering Annex.