WAYCROSS, Ga.—Finnish company Admares plans to invest $750 million to build a modular housing factory in the U.S. state of Georgia, hiring 1,400 people, officials announced Wednesday.
The company plans to mass produce housing using heavily automated factories. Admares, which was founded in Turku, Finland, said it’s in the process of relocating its headquarters to the United States.
The company said its factory in Waycross will be 2.5 million square feet (232,000 square meters), with production starting in late 2025. The company says it plans to build six such factories worldwide, each of which would produce 5,000 to 6,000 homes per year.
Such homes would only need a foundation and utility connections on the site where they are installed, Admares said, and could be built with 80 percent less material waste and 75 percent less carbon dioxide emissions than homes built in a traditional way….