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Balyasny Asset Management to expand into 100,394 square feet of space in New York City.

November 26, 2024 Craig Etkin

New York, New York — According to state and local development sources, Balyasny Asset Management plans to build out 100,394 square feet of new space in New York. The company plans to occupy the new…

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Sofidel will make a $200 million expansion in Duluth, supported by $5 million in business expansion funding from the State of Minnesota. The expansion will create at least 160 new jobs, tripling the company’s current workforce size. Funding comes from the Minnesota Department of Employment and Economic Development’s (DEED) Job Creation Fund (JCF) and Minnesota Investment Fund (MIF). The JCF provides financial incentives to new and expanding businesses that meet certain job creation and capital investment targets. The MIF provides financing to help add new workers and retain high-quality jobs – with a focus on industrial, manufacturing, and technology-related industries – increasing the local and state tax base and improving Minnesota's economic vitality.

Sofidel will expand their existing facility into an integrated, state-of-the-art production plant where raw materials are processed, manufactured, and packaged into finished goods such as paper towels, bath tissues, and napkins. The company will construct an automated warehouse for product storage and distribution. Construction will take place in phases beginning in late 2024 and continuing through late 2026. The completed project size will be nearly 600,000 square feet.

In a statement Simone Giacomelli, Integration Manager at Sofidel said, This expansion is a testament to our long-term commitment to growth and innovation in the North American market. In Duluth, we found a favorable operating environment, with a skilled and dedicated workforce, and strong partnerships with local institutions and the community. These factors encouraged us to further invest in this facility,” “We are also grateful for the tremendous support from the State of Minnesota and the City of Duluth, which has been essential in bringing this project to life."

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According to state and local development sources, JPMorgan Chase plans to invest $3.1 Million to build out 3,329 square feet of new space in Georgetown Texas. The project, designed by Dallas based Rouch Architects, consists of New construction of a retail banking center with drive-thru ATM, and is located about 30 miles north of downtown Austin, at the north east corner of Ronald Reagan Blvd. & RR 2238 in Georgetown. The Chase Bank Parmer Ranch facility is expected to be completed in late 2025 or early 2026.

JPMorgan Chase & Co. operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers s deposit, investment and lending products, payments, and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit card, auto loan, and leasing services. For over 200 years, JPMorgan Chase & Co has provided innovative financial solutions for consumers, small businesses, corporations, governments and institutions around the world. Today, were a leading global financial services firm with operations servicing clients in more than 100 countries. Whether we are serving customers, helping small businesses, or putting our skills to work with partners, we strive to identify issues and propose solutions that will propel the future and strengthen both our clients and our communities. The company also provides ATM, online and mobile, and telephone banking services. JPMorgan Chase & Co. was founded in 1799 and is headquartered in New York, New York.

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