Jackson County lands first economic development project since 2018, company to invest $5.5 million
NASHVILLE, Tenn. – Tennessee Gov. Bill Lee, Department of Economic and Community Development Commissioner Stuart C. McWhorter and Synergy Magnetics LLC officials announced today the company would start its journey in Gainesboro and become the first economic development project to land in Jackson County since 2018.
Synergy Magnetics manufactures transformers, and through the project, the company will invest more than $5.5 million and create 35 new jobs at its Gainesboro facility.
Since 2020, TNECD has supported nearly 30 economic development projects in the Upper Cumberland, resulting in approximately 3,000 job commitments and nearly $870 million in capital investments.
QUOTES
“What happens in rural Tennessee matters to all Tennesseans, and I’m excited to see Jackson County land new investment from a company like Synergy Magnetics. The skilled workforce across Gainesboro will benefit from these new positions, and I look forward to seeing both the community and company flourish with today’s announcement.” – Gov. Bill Lee
“We love seeing new entrepreneurs set up shop in the Volunteer State. Our business-friendly climate, low taxes and wealth of space make this the perfect fit for Synergy Magnetics. I thank their leadership for choosing Tennessee and am excited to see the positive impact that they bring to the Upper Cumberland.” – TNECD Commissioner Stuart C. McWhorter
“We are very proud to call Gainesboro, Tennessee, the home of Synergy Magnetics. The support and assistance we received from both the state and local level has only reaffirmed our belief that we are in the right place. We look forward to becoming an active member of the Gainesboro community.” – Andrew Mackessy, Synergy Magnetics CEO
“On behalf of the citizens of Jackson County, I want to extend a warm welcome to Synergy Magnetics. This project, like most good things, has taken a lot of time and effort to land, but the wait was worth it for our community. Days like this don’t happen without a great team, and we are fortunate to have dedicated partners like Eaton Corporation, Jackson County Industrial Development Board, the Tennessee Department of Economic and Community Development, along with the Synergy Magnetics team. We are thrilled to see this project come to fruition and look forward to a long, prosperous partnership.” – Jackson County Mayor Randy Heady
“Jackson County is thrilled to have attracted Synergy Magnetics to our community. We are excited about the company’s decision to locate here and are looking forward to working toward a long and prosperous future.” – Sen. Paul Bailey (R-Sparta)
“I’m thrilled to welcome Synergy Magnetics to the Gainesboro community. This is a significant investment that will provide 35 people with a new career opportunity and enhance our local economy. Thank you to the leaders who made this possible, and I look forward to seeing all their success.” – Rep. Michael Hale (R-Smithville)
About Synergy Magnetics
Synergy Magnetics, a reimagined transformer company, is driven by a highly experienced team with a deep manufacturing background. The company produces best-in-class magnetics for use in critical infrastructure applications. State-of-the-art machinery, lean production practices, and customized operating systems are leveraged to ensure efficient and high-quality builds. Synergy Magnetics emphasizes continuous improvement and competitive wages, fostering a positive work environment. This approach enables Synergy to consistently produce superior products and attract top talent, ensuring the company’s success and growth.
About the Tennessee Department of Economic and Community Development
The Tennessee Department of Economic and Community Development’s mission is to develop strategies that help make Tennessee the No. 1 location in the Southeast for high quality jobs. To grow and strengthen Tennessee, the department seeks to attract new corporate investment to the state and works with Tennessee companies to facilitate expansion and economic growth. Find us on the web: tnecd.com. Follow us on Twitter, Instagram and LinkedIn. Like us on Facebook. Subscribe to our YouTube channel.
TNECD Media Contacts
Lindsey Tipton
Director of Communications
(615) 339-6608
[email protected]
Chris O’Brien
Public Information Officer
(615) 934-5879
[email protected]
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