The project is expected to cost $5.6 billion, making it the most expensive single investment in Tennessee history. It will employ approximately 5,800 people when complete.[1][3]
History
The project was jointly announced by both companies on September 27, 2021.[1] A ceremony was held the following day at Shelby Farms in Memphis, providing further details of the project.[4] The facilities will be constructed at the 4,100-acre (1,700 ha) Memphis Regional Megasite, also known as the West Tennessee Megasite, which was designated as an industrial site in September 2009.[5]
The site is located in rural Haywood County near the town of Stanton, about 40 miles (64 km) east of Memphis. It is accessible from Interstate 40.[6] The state was initially expected to provide approximately $500 million worth of incentives that include infrastructure improvements, grants, and a new campus operated by the Tennessee College of Applied Technology (TCAT) to train workers for the plants.[7] The final cost ballooned to $884 million.[8]
In addition to BlueOval City, Ford and SK Innovation announced plans to construct twin battery plants in Glendale, Kentucky, called BlueOval SK.[9][10]