Hyosung HEICO invests $51M in Memphis creating 23 jobs and boosting transformer production

The government meeting held on May 15, 2025, in Memphis focused on a significant announcement regarding Hyosung HEICO, a South Korean company specializing in transformer production. The meeting highlighted a new investment of $51 million by Hyosung, which will create 23 new jobs in the Memphis area.

The expansion of Hyosung's operations is poised to make the company the largest domestic producer of transformers in North America. This development is particularly noteworthy as it addresses the increasing demand for power and power transmission, a topic of growing concern in the region.

Officials expressed enthusiasm about the investment, emphasizing its potential to positively impact the local economy and change the lives of many residents. The presence of local leadership, including the mayor, underscored the importance of this announcement for the community.

Overall, the meeting underscored the significance of Hyosung's expansion as a pivotal moment for Tennessee, promising both job creation and enhanced capacity to meet energy demands. Further discussions on the implications of this investment and its impact on the local workforce are anticipated in future meetings.