Morgan Steel to invest $11.7M in Memphis, create 119 new jobs

SEATTLE (Scrap Monster):  Morgan Steel announced Tuesday it will expand its headquarters operations with the purchase of a new facility in Shelby County.

The facility is expected to create 119 new jobs and is projected to invest $11.7 million into Memphis, according to a news release.

Morgan Steel is a family-owned steel manufacturer on Presidents Island. The company was founded in 2014 and, after the expansion, will employ about 400 people in Memphis and Greeneville, Texas.

“Morgan Steel’s expansion is a powerful reminder that Memphis provides the foundation for businesses to not only survive but thrive,” said Duncan Williams, Board Chair of the Greater Memphis Chamber. “When a company grows from 18 employees to over 400 in just eleven years and chooses to reinvest nearly $12 million right here at home, it validates everything we know about Memphis’s competitive advantages. Scott and Chris Morgan have built something truly special, and their continued commitment to our city inspires confidence in Memphis’s economic future.”

Governor Bill Lee and Mayor Paul Young expressed their support for the expansion and highlighted the importance of supporting Tennessee businesses.

“While Tennessee competes globally for jobs and investment, ensuring Tennessee-based companies can thrive is equally important. Morgan Steel’s decision to create 119 new jobs in Memphis underscores the strength of the business climate we have cultivated statewide, and I am proud to see this company expand here at home,” Gov. Lee stated.

Mayor Young said the following:

“Morgan Steel is proving that when companies invest in Memphis’ people and infrastructure, opportunity follows. This expansion shows confidence in our city and in our ability to support businesses that create jobs and strengthen our economy.”

Courtesy: www.wreg.com