Tennessee Gov. Bill Lee, Department of Economic and Community Development Commissioner Stuart C. McWhorter and Synergy Magnetics LLC officials announced last week 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.
“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 weare 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 said in a press release.
“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, also noted.
Gov. Lee noted that what happens in rural Tennessee matters to all Tenneseans, while McWhorter touted the state’s business-friendly climate, low taxes and wealth of space that attracts industry.
Elected state officials commented on the recent announcement.
“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-15) noted.
“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) also noted.
Since 2020, TNECD reports it 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.
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 ECD on Twitter, Instagram, Facebook and LinkedIn. TNECD also has a YouTube channel.
