Chemical manufacturer Albemarle Corp. announced Wednesday an investment of up to $540 million to expand and modernize two bromine facilities in Magnolia to meet growing demand for fire safety and specialty products.
The Charlotte, N.C., company already has started the expansion, which is scheduled to continue through 2027. More than 50 new jobs will be added at the two facilities, which are upgrading to meet customer demand in the technology, safety, transportation and green-energy sectors.
"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," Netha Johnson, Albemarle's president of Bromine operations, said in a statement announcing the expansion.
"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," Johnson said.
The upgrades are expected to create 250 constructions jobs with local companies and workers, as well as an estimated 15% increase in total jobs at the plants at an average annual salary of $100,000.
Albemarle is the largest corporate employer in Columbia County with more than 400 employees and 200 contractors working at the sites.
To further develop the plants and the promote economic expansion for the region, the company said the investment will include leadership and technical training at the Magnolia locations in collaboration with the Arkansas Office of Skills Development. Training enhancements will help local residents build skills and gain experience to fill the new jobs.
The expansion is a strong investment in south Arkansas, Gov. Asa Hutchinson said in a statement Wednesday.
"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 governor said. "The jobs being created through this expansion are good, high-paying jobs that will positively impact the families of these new employees."
Beyond job creation, the company delivers attention to the state "as an industry leader and innovator," Commerce Secretary Mike Preston said. "Their commitment to sustainability pairs perfectly with our goals of improving economic conditions in the state while maintaining an exemplary quality of life."
The chemical manufacturer has operated in the region for more than 50 years, producing products used in fire safety, chemical synthesis, oil and gas well drilling and completion fluids, mercury control, paper manufacturing, water purification, beef and poultry processing and other industrial applications.