WEST POINT, Miss. (AP) — Yokohama Tire Corporation has broken ground for a manufacturing facility in Mississippi.
Gov. Phil Bryant, company executives and others gathered for the ground breaking ceremony Monday in West Point, where the company will manufacture commercial truck tires.
A news release from the governor's office says the first phase of the project represents a $300 million investment by Yokohama and will create 500 new jobs.
Officials say that potential future expansions are projected to increase the company's investment to more than $1 billion and to raise employment from 500 to 2,000 jobs.
In April, state lawmakers approved a total of $130 million in incentives to assist with the project — $70 million was allotted for the initial phase.