▁largest ); ▁and ▁the ▁corpor ate ▁headquarters ▁of ▁Vers o ▁P aper ▁in ▁M emph is , ▁as ▁well ▁as ▁Fed Ex , ▁which ▁is ▁one ▁of ▁the ▁world ' s ▁largest ▁sh ipping ▁companies . ▁▁ ▁Fort une ▁ 5 0 0 ▁companies ▁having ▁headquarters ▁in ▁the ▁region ▁include ▁ 2 0 ▁in ▁Virginia , ▁ 1 6 ▁in ▁Florida , ▁ 1 5 ▁in ▁North ▁Carolina , ▁and ▁ 1 4 ▁in ▁Georgia . ▁This ▁economic ▁expansion ▁has ▁enabled ▁parts ▁of ▁the ▁South ▁to ▁have ▁of ▁some ▁of ▁the ▁lowest ▁un emp loyment ▁rates ▁in ▁the ▁United ▁States . ▁In ▁Alabama , ▁there ▁is ▁a ▁large - scale ▁manufact uring ▁project ▁owned ▁by ▁the ▁German ▁steel ▁meg ac or por ation ▁Th y ss en K ru pp , ▁which ▁oper ates ▁a ▁massive , ▁state - of - the - art ▁facility ▁in ▁Mobile . ▁ ▁Research ▁and ▁development ▁Research ▁Tri angle ▁Park , ▁in ▁the ▁R ale igh - D ur ham ▁urban ▁area ▁of ▁North ▁Carolina , ▁has ▁emer ged ▁as ▁a ▁major ▁hub ▁of ▁technology , ▁government al , ▁and ▁bi ote chn ological ▁research ▁and ▁development , ▁as ▁has ▁the ▁Virginia ▁Bio Te chn ology ▁Research ▁Park ▁in ▁Richmond . ▁The ▁C umm ings ▁Research ▁Park ▁in ▁the ▁Hun ts ville , ▁Alabama ▁area ▁is ▁the ▁second ▁largest ▁research ▁complex ▁in ▁the ▁nation . ▁Loc ated ▁in ▁Hun ts ville ▁is ▁the ▁Red stone ▁Ar sen al , ▁United ▁States ▁Army ▁Miss ile ▁Command , ▁the