Mississippi announces $1.45 billion investment and 2500 jobsAll Articles
Continental Tire the Americas, which manufactures and distributes passenger, light truck and commercial tires for original equipment and replacement tire markets, will invest $1.45 billion to establish a new manufacturing plant near Clinton, Mississippi. The project will create 2500 new jobs. Continental will construct a multi-million-square-foot facility on Norrell Road off I-20 West in Hinds County. Construction of the facility is slated to begin in January 2018.
The company’s decision to bring 2500 new jobs to Central Mississippi speaks volumes about its dedication to developing the workforce of the future, as well as a business environment that spurs growth, expansion and innovation. The project in Hinds County, Mississippi, is part of the company’s global growth strategy. In a first step, the new plant is especially addressing its commitment to grow its commercial vehicle tire business in North America. The announcement of a new tire plant in the US is the second in just five years for Continental.
On Feb. 4, the Mississippi Legislature voted on an incentive package in support of the project. Lawmakers approved $263m through the Mississippi Major Economic Impact Authority for site acquisition and site preparation, infrastructure improvements and workforce training. Of that amount, Hinds County contributed $20m.
Continental AG, commonly known as Continental, is a leading German automotive manufacturing company specialising in tyres, brake systems, interior electronics, automotive safety, powertrain and chassis components, tachographs, and other parts for the automotive and transportation industries. Continental is based in Hanover, Lower Saxony, Germany.
The fund was established in FY 2010 to incentivize projects that create significant opportunities within the state without having to create special legislation each time a new project was identified.
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