Homegrown manufacturer’s $11.7 million investment underscores Memphis’s strength as a manufacturing hub
MEMPHIS, TN. Tuesday, March 24, 2026 – The Greater Memphis Chamber today celebrates Morgan Steel’s announcement to expand its headquarters operations by purchasing a new facility in Shelby County. The family-owned steel manufacturer and distributor will create 119 new jobs and invest $11.7 million in Memphis as part of the project, which includes updating equipment to accommodate increased capacity and additional projects to further meet growing customer demand.
Founded in Memphis in 2014, Morgan Steel began with a team of 18 employees. Following today’s announcement, the company will employ more than 400 across its operations in Memphis and Greenville, Texas.
“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.”
The expansion reflects Memphis’s competitive advantages as a manufacturing and distribution hub, including access to five Class I railroads, the nation’s second-largest cargo airport, and a strategic location that places 95% of the world’s GDP within 72 hours.
Tennessee Gov. Bill Lee emphasized the importance of supporting Tennessee-based companies: “While Tennessee competes globally for jobs and investment, ensuring Tennessee-based companies can thrive is equally important. Morgan Steel’s decision to create 119 new jobs in Memphis underscores the strength of the business climate we have cultivated statewide, and I am proud to see this company expand here at home.”
“This expansion reflects our long-term investment in giving people in the Memphis area an opportunity by developing a skilled workforce that strengthens our company,” said Jonathan Keith, CEO of Morgan Steel. “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.”
The project represents collaboration among state, regional, and local partners, including the Greater Memphis Chamber, the Tennessee Department of Economic and Community Development, EDGE, TVA, and Memphis Light Gas and Water.
Memphis Mayor Paul Young noted, “Morgan Steel is proving that when companies invest in Memphis’ people and infrastructure, opportunity follows. This expansion shows confidence in our city and in our ability to support businesses that create jobs and strengthen our economy.”