Blue Oval City in Haywood County, TN

Hey, this is Nathan Lilly, I'm a local realtor here in Haywood County, just making a real quick video on Blue Oval City, which is the electric vehicle plant that Ford is going to be putting in. So what I'm going to do, basically, I'm going to read information on it for those who are looking for information maybe have not even heard about it or maybe you're just looking for more information on it, then I'm going to give my input what I think about it, how I think it's going to affect the area. Good and bad. I'm going to give both sides to that. But real fast blue Oval City is a planned automotive assembly complex near Stanton, Tennessee, that will be operated by Ford Motor Co. and SK Innovation and is expected to be operational in twenty twenty five. The facility takes its name from Ford's logo and will primarily consist of an automotive assembly plant that will produce electric Ford F-Series pickup trucks and a plant that will manufacture electric vehicle batteries, as well as battery recycling facilities, suppliers and training centers. The project is expected to cost five point six billion, making it the most expensive single investment in Tennessee history and will employ approximately fifty eight hundred will when it's complete and the process of building the city blue oval city. It's going to employ around twenty eight thousand people with contract and direct employment, work with Ford and SK innovations and contractors and whoever else they get to come help build the facility. Speaker1: Just a little history on the area. This project was jointly announced by both companies on September the Twenty Seven Twenty Twenty One and a ceremony was held following the following day at Shelby Farms in Memphis, providing further details of the project. The facilities will be constructed at the forty one hundred acre Memphis Regional Mega Site, also known as West Tennessee Mega Site, which has been designated as an industrial site since since September two thousand nine. The site is located in rural Haywood County, near the town of Stanton, about 40 miles east of Memphis, and is acceptable or accessible from Interstate 40. The state is expected to provide approximately five hundred million worth of incentives that include infrastructure improvements, grants and a new campus operated by the Tennessee College of Applied Technology that will train workers for the plants. In addition to Blue Oval City, they also announced plans to construct twin battery plants in Glendale, Kentucky, called Blue Oval. Okay, so that's just a little information on Blue Oval City. What I think is going to do is going to be big for the economy of Haywood County. The size of Blue Oval City says it's going to be about fifty thousand eight hundred people when and when finished that are going to be employed by Blue Oval City. That's bigger than the city of Stanton alone in terms of population. Speaker1: So definitely going to be big on the economical scale now. Infrastructure, I think, is going to be something that lacks with. I'm West Tennessee, the surrounding counties, areas that are going to be in proximity of this plant. A lot of areas are highly trafficked, I know in Jackson, Tennessee. Traffic now is pretty crazy in some areas. And with all the employment people moving here, direct migration due to the Ford plant indirect for so many other variables on top of already having a extreme low inventory of homes. Crazy high demand at the moment in the real estate realm, this is going to be like gas on the fire. It is definitely going to cause property values to increase around Haywood County and even surrounding counties. It's definitely going to cause more demand in those areas for sellers. Absolutely amazing. You can't beat the market. All the speculation right now, it is real. So prices will continue to go up. I do believe and even when the plant is fully built, I think they will still keep going up until housing until we have a larger inventory of homes. But I hope this video was informational. If you have any questions, my information will be in the description below. Anything at all? I was born and raised in Haywood County. So if you have any questions, I work seven days a week a week. Like I said, reach out any time and have a wonderful day.