AAON: investing in job creation in Memphis.
Article excerpt
AAON: investing in job creation in Memphis. New Markets Tax Credit financing, provided by Regions, will help HVAC manufacturer AAON create opportunities for underserved communities in Memphis. By Sarah Moody | April 29, 2026 An economically distressed area of Southeast Memphis is poised to gain new life through a development that promises to bring not only an economic boost, but also critically important employment opportunities. AAON, Inc. is a leading producer of heating, ventilation, and air conditioning systems for commercial and industrial indoor environments. The company is establishing a new manufacturing and warehousing facility in Memphis that will entail the acquisition and renovation of an existing 787,000 square foot building. The revamped facility will allow AAON to add additional production lines for its thermal management solutions and HVAC products that serve data center and commercial/industrial markets. The new facility will provide a boost for a severely distressed area, not only in terms of economic development, but also job creation. The project is expected to add 750 high-quality jobs within its first three years of operation, with average income that exceeds the area's living wage. New roles will include assembly labor, warehouse workers, maintenance mechanics, machine operators, and office and professional jobs. Regions is proud to support...
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The $200 million project is one of AAON's largest company investments to date, and it is made possible in part through New Markets Tax Credit (NMTC) financing, provided by Regions Bank in partnership with three Community Development Entity partners: Pathway Lending CDE, River Gorge Capital, and Three Roots Capital.
