TEMPLE, TEXAS (January 8, 2025) — Temple Economic Development Corporation (Temple EDC) proudly celebrates the recognition of SeAH Superalloy Technologies’ $110 million investment in Temple’s Industrial Park as the winner of Business Facilities’ 2024 Deal of the Year Impact Award in the Foreign Direct Investment (FDI) category. This prestigious award underscores the exceptional efforts made by the Temple EDC and its partners to secure a transformative foreign direct investment project in a highly competitive global landscape.
Each year, Business Facilities, a leading publication for corporate site selectors and economic development professionals, honors economic development organizations for their outstanding work in attracting significant corporate relocations, expansions, or retention projects. This year’s record-breaking pool of nominations made the selection process highly competitive. The Impact Awards, a subset of the Deal of the Year program, highlight projects with substantial transformative potential for their communities. SeAH’s investment stood out for overcoming the challenges of a competitive global landscape and showcasing the strength of collaboration between state, local, and private partners.
Adrian Cannady, President and CEO of Temple Economic Development Corporation, remarked on the significance of the project: “SeAH’s decision to open its first Superalloy facility in Temple marked a pivotal moment for the company’s strategic entry into the U.S. market. Our goal was to demonstrate that the Temple region wasn’t just a cost-effective choice, but also an ideal place for executives and facility leadership to relocate and seamlessly integrate into the Temple community.”
Temple’s success in attracting SeAH illustrates how focusing on innovative solutions and collaboration can lead to remarkable outcomes. The partnership between Temple EDC, the City of Temple, and state-level entities showcased a best-in-class approach to economic development, leveraging customized incentives and grants tailored to SeAH’s specific needs. By creating a flexible environment that prioritizes streamlined processes, Temple EDC engaged key stakeholders effectively, expedited the decision-making process, and provided SeAH with a smooth experience during site selection and project planning. This focus on efficiency and partnerships enabled a nimble approach, critical in securing this major investment.
Securing SeAH’s commitment was not without challenges, especially in the competitive global landscape for foreign direct investment. To stand out, Temple EDC emphasized Temple’s ability to offer both business advantages and a welcoming environment where executives and facility leadership could thrive. A key consideration for SeAH was ensuring access to a skilled workforce. Through collaboration with Workforce Solutions Central Texas and local educational institutions, Temple EDC developed tailored training programs to prepare the local talent pool for high-tech manufacturing roles.
SeAH’s investment in Temple is poised to spark broader economic development in the region. Beyond direct job creation, the project is expected to attract ancillary businesses and suppliers, fostering the development of a high-tech manufacturing cluster. SeAH and the Temple community partners celebrated breaking ground on the manufacturing plant on October 2, 2024, and the construction is expected to be completed in the first quarter of 2026.
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ABOUT TEMPLE ECONOMIC DEVELOPMENT CORPORATION
The Temple Economic Development Corporation (Temple EDC) is a nonprofit organization that serves as the contracted economic development entity for the City of Temple, Texas. Temple EDC strengthens relationships, builds partnerships, and provides solutions that cause entities to choose Temple. To learn more about doing business in Temple, visit TempleEDC.com.
ABOUT TEMPLE, TEXAS
Temple, located 45 minutes north of Austin, offers the perfect compromise between welcoming small-town living and the hustle of a big city. Striking a balance between vibrancy and livability, Temple continues to grow its amenities for residents, while maintaining a safe, family-friendly, caring culture. Whether it is the scenic parks and trails, the family friendly atmosphere, or the unique neighborhoods with Texas charm, we think you will find something here that you love! Our vision is for Temple to be a place that you love to call home. Visit templetx.gov for more information.
ABOUT SEAH CHANGWON INTEGRATED SPECIAL STEEL (SEAH CSS)
SeAH Changwon Integrated Special Steel (SeAH CSS), a subsidiary of SeAH Group since 2015, is Korea’s leading manufacturer of high-tech industrial materials. Located in Changwon, Gyeongnam, South Korea, the plant has an annual production capacity of 1.2 million tons and produces stainless steel, tool steel, carbon alloy steel, and more. SeAH CSS serves a wide range of industries, including automotive, machinery, aviation, nuclear energy, shipbuilding, and electronics. For more information, visit www.seahss.co.kr.