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Tag: IAG Aero Group

IAG Aero Group to spend $107 Million to occupy 300,000 square feet of space in Panama City Florida.

Panama City, Florida — According to state and local development sources, IAG Aero Group plans to invest $107,000,000.00 to build out 300,000 square feet of new space in Panama City. The company plans to occupy…

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CleanJoule, a full-performance sustainable aviation fuel company, announced plans to bring approximately 100 new technically-oriented jobs to Salt Lake City and invest $150 million in Utah over the next ten years. CleanJoule is a full-performance sustainable aviation fuel (SAF) company that has developed a breakthrough pathway to produce superior and cost-effective SAF, driving the transformation towards a more sustainable aviation industry. CleanJoule’s manufacturing process delivers SAF with 10% higher energy density than typical Jet A/A-1 via a feedstock flexible biologic and chemical process. Backed by Indigo Partners, Cleanhill Partners, GenZero, Frontier Airlines, Wizz Airlines, and Volaris, CleanJoule is on a mission to eliminate the aerospace industry’s reliance on fossil fuels.

According to the company website Air traffic doubles every 15 years yet aerospace is constrained by a few key levers: pilots, aircraft, and propellant. The industry can’t continue to grow on fossil fuels alone. Production of jet fuel from oil will have to double from 100M to 200MM barrels per day. SAF is the only path to scale the requisite fuel volume required for ongoing growth while achieving IATA emissions targets. As SAF production grows, limitless feedstocks will be required. Production pathways that can efficiently transform more abundant and flexible feedstocks into SAF will emerge as the dominant SAF producers.

Mukund Karanjikar, CEO and founder of CleanJoule said, “Utah has an incredible talent pool and excellent leadership at the city and state levels. Utah’s business-friendly legislature has been instrumental in allowing us to attract outside capital and drive growth.” “We see immense potential in the Salt Lake City community and are excited to be part of an ecosystem that values forward-thinking approaches and cultivates an environment where businesses and individuals alike can thrive."

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Pepsi Beverages Sales LLC, a wholly owned subsidiary of PepsiCo, plans to invest $62 million establish an upgraded facility in Claymont. The new site, located in the same county as the previous Wilmington facility, will retain 216 existing positions and create 77 additional jobs in the state, playing a key role in expanding the entity’s Northeast warehousing capabilities. Located at 4145 Philadelphia Pike, the facility is part of the redeveloped Claymont Steel Mill property. PepsiCo will complete multi-million-dollar renovations to the leased 359,000-square-foot space and make significant investments in new equipment to enhance regional operations and support growing demand. In addition, the site will serve as a key hub for supporting manufacturing sites across the region.

Delaware Prosperity Partnership (DPP) collaborated with PepsiCo to secure the Claymont location and connect the company with state resources. On Monday, the state Council on Development Finance (CDF) approved up to $2,887,000 in grant funding from the Delaware Strategic Fund. These grants, contingent on PepsiCo meeting commitments for job retention, job creation and capital investment, underscore Delaware’s proactive support for businesses investing in the state.

PepsiCo products are enjoyed by consumers more than one billion times a day in more than 200 countries and territories around the world. PepsiCo generated more than $91 billion in net revenue in 2023, driven by a complementary beverage and convenient foods portfolio that includes Lay’s, Doritos, Cheetos, Gatorade, Pepsi-Cola, Mountain Dew, Quaker and SodaStream. PepsiCo’s product portfolio includes a wide range of enjoyable foods and beverages, including many iconic brands that generate more than $1 billion each in estimated annual retail sales.

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