Specialty chemicals company Albemarle Corporation says it plans to invest up to $540 million to expand and modernize two bromine facilities in Magnolia, Arkansas, designed to meet growing demand for fire safety and specialty products in several industries, including technology, safety, transportation and green energy. The planned investments reportedly have begun and will continue through 2027.
“We have a long, rich history of operations in Columbia County with a strong commitment to both the community and the economy in the region,” says Netha Johnson, Albemarle’s president of bromine, in a press release from the company. “The facility investments, along with the jobs and the economic stability they bring, reaffirm our dedication to the area and to meeting our customers’ needs as we work together to build the technologies of the future for a safer, greener world.”
The two facility projects are expected to create 250 constructions jobs utilizing local companies and workers, as well as an approximately 15% increase in total jobs at the two facilities with an average annual salary of $100,000, according to the company.
“I am excited about the investment that Albemarle is bringing to south Arkansas,” says Arkansas Governor Asa Hutchinson. “They have been a strong business partner in Magnolia for decades, and they also have a history of giving back to the community by working to provide environmentally friendly solutions for the area’s wildlife and supporting educational opportunities for students. The jobs being created through this expansion are good, high-paying jobs that will positively impact the families of these new employees.”
In addition to its planned capital investment, Albemarle is investing in leadership and technical training at its Magnolia locations with the support of the Arkansas Office of Skills Development (OSD). Programs are designed help local residents build skills and gain experience to fill the new jobs.
Read the press release at: www.albemarle.com
