In the space of four months, North Alabama EC, Stevenson, AL, went from looming famine to imminent feast.
Back in January, Beaulieu Fibers announced plans to shut down its Bridgeport, AL, factory. Faced with the prospect of 375 lost jobs, North Alabama EC General Manager Bruce Purdy went to work with local and state leaders and TVA’s Economic Development team.
The happy result was that in May, Mohawk Industries announced that it had acquired the Beaulieu factory. The deal not only saves those nearly 400 jobs, but includes a commitment for future growth. Mohawk’s operations may well double North Alabama EC’s industrial load, making the carpet giant the cooperative’s largest industrial customer.
“I’m fortunate to work with a group of people who are passionate about economic development and passionate about advancing the economy of North Alabama,” said Purdy, whose cooperative had been shedding industrial load in recent years.
“That passion, along with the support provided by the state, the local agencies and TVA, is what allows us to effectively negotiate with companies like Mohawk,” Purdy said.
The key was the new 10-year option for TVA’s Investment Credit Program, which was crafted jointly by the TVPPA Economic Development Committee and the TVA Economic Development team.
“Through this valuable economic development program, TVA and local power companies jointly provide financial incentives to qualifying power customers,” said Greg Fay, chairman of the TVPPA Economic Development Committee and the general manager at Clinton, TN, UB. “For those customers who set and achieve specific performance goals, the incentives can be even greater.”
John Bradley, TVA’s senior vice president of Economic Development, said that TVA’s focus on the project, as with any other, is to assist the region and Valley communities in attracting and retaining jobs.
“We obviously have a role to play in the Valley’s economic-development efforts, and I must give credit to several groups at TVA who contributed to the project,” Bradley said. “We really couldn’t have accomplished this without their hard work and quick turnaround.
“I also can’t say enough about the leadership shown by Bruce and Greg, who brought the right people together and simplified processes in order to make this happen. We’re very grateful,” Bradley said.
Mohawk Industries is the world’s largest flooring manufacturer with a complete line of products including carpet, rugs, ceramic tile, laminate, wood, sheet vinyl and luxury vinyl tile. The Fortune 500 company reported sales of $9 billion in 2016, and employs more than 37,800 around the globe.