The Greater Memphis Chamber is celebrating a major economic win as Morgan Steel announces plans to expand its headquarters operations in Shelby County.
The family-owned steel manufacturer and distributor will invest $11.7 million into a new facility, creating 119 new jobs in Memphis. The project also includes equipment upgrades to increase capacity and support growing customer demand.
Founded in Memphis in 2014 with just 18 employees, Morgan Steel has seen rapid growth over the past decade. With this latest expansion, the company is expected to employ more than 400 people across its Memphis and Greenville, Texas, locations.
“Morgan Steel’s expansion is a powerful reminder that Memphis provides the foundation for businesses to not only survive but thrive,” said Duncan Williams, Board Chair of the Greater Memphis Chamber. “When a company grows from 18 employees to over 400 in just eleven years and chooses to reinvest nearly $12 million right here at home, it validates everything we know about Memphis’s competitive advantages. Scott and Chris Morgan have built something truly special, and their continued commitment to our city inspires confidence in Memphis’s economic future.”
State Governor Bill Lee emphasized the importance of supporting in-state business growth.
“While Tennessee competes globally for jobs and investment, ensuring Tennessee-based companies can thrive is equally important,” Lee said. “Morgan Steel’s decision to create 119 new jobs in Memphis underscores the strength of the business climate we have cultivated statewide.”
Morgan Steel leadership says the investment is also about strengthening its workforce and long-term impact in the region.
“By growing our capabilities here at home, we’re positioning Morgan Steel to deliver greater value for our customers, drive innovation in how we work and continue to create opportunities for our employees, their families and our community,” said Jonathan Keith, CEO of Morgan Steel.
Memphis Mayor Paul Young added that the project signals confidence in the city’s future.
“Morgan Steel is proving that when companies invest in Memphis’ people and infrastructure, opportunity follows,” Young said.
