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May 29, 2013
Eastman to invest $1.6 billion in Kingsport site
Eastman Chemical Co. (Kingsport, Tenn.; www.eastman.com) chairman and CEO Jim Rogers and Tennessee Governor Bill Haslam today announced a major economic development project referred to as Project Inspire. As part of this project, over the next seven years, Eastman will invest $1.6 billion in its Kingsport site and add 300 new jobs in Tennessee. This comprehensive effort will enable the company to invest in, among other things, new growth opportunities, safety and environmental projects, increased warehouse capacity, building renovations and expansion of its corporate campus.
"This represents a landmark capital investment that will modernize and expand our largest manufacturing site and corporate campus here in Kingsport,” says Rogers. "This multi-year project will culminate in Eastman’s 100th anniversary in 2020. I can think of no better way to honor our long-term commitment to this site and surrounding community than through this very significant investment in our future.”
The state will provide funding to support the corporate campus expansion, road infrastructure improvements for the project, and a grant to meet advanced manufacturing training needs for the company through the Regional Center for Advanced Manufacturing located in Kingsport.