Current:Home > StocksSwiss manufacturer Liebherr to bring jobs to north Mississippi-LoTradeCoin
Swiss manufacturer Liebherr to bring jobs to north Mississippi
View Date:2024-12-24 07:29:44
JACKSON, Miss. (AP) — Liebherr, one of the largest manufacturers of construction equipment in the world, is bringing a $176 million investment and 180 jobs to northeast Mississippi, state officials announced Tuesday.
The Swiss company plans distribution and manufacturing operations in Lee County as part of its North American expansion, the Mississippi Development Authority said. The jobs are expected to be in place by 2026.
MDA spokeswoman Tammy Craft said the state authority is providing a $5 million loan for construction and equipment and tax incentives valued at almost $13.5 million over 10 years.
The company plans to develop a new 1 million square foot (.09 square kilometer) campus on a 118-acre ( .48 square kilometer) site in The HIVE Business Park in Tupelo, the MDA said in a statement.
“The first phase of the project will encompass the construction of a state-of-the art logistics center to serve the distribution and logistics operations for Liebherr’s after-sales services. Following the initial phase, the company will invest in additional work to support its other product segments,” the agency said.
Gov. Tate Reeves welcomed the company to Mississippi, saying he’s “excited to watch the company play an integral role in our continued prosperity.”
Liebherr Managing Director Joerg Stroebele said Tupelo is the “ideal location” to deliver its products to clients in the U.S. and those on the North and South American continents.
“Its unique logistical capabilities combined with the central geographical location will make a difference to us and our clients,” he said, crediting Mississippi’s business climate and a strong labor market for the location choice.
Liebherr is a family-run technology company that in addition to construction equipment provides high-quality, user-oriented products and services in a wide range of areas. The Liebherr Group has more than 150 companies in more than 50 countries and currently employs more than 53,000 people worldwide, according to the company’s website.
veryGood! (3)
Related
- Glen Powell Addresses Rumor He’ll Replace Tom Cruise in Mission Impossible Franchise
- Former US ambassador arrested in Florida, accused of serving as an agent of Cuba, AP source says
- Takeaways from The AP’s investigation into the Mormon church’s handling of sex abuse cases
- NFL playoff picture: Packers leap into NFC field, Chiefs squander shot at lead for top seed
- Sydney Sweeney Slams Women Empowerment in the Industry as Being Fake
- Global warming could cost poor countries trillions. They’ve urged the UN climate summit to help
- 70-year-old woman gives birth to twins in Uganda, doctor says
- Las Vegas police search for lone suspect in homeless shootings
- FBI offers up to $25,000 reward for information about suspect behind Northwest ballot box fires
- Taylor Swift Cheers on Travis Kelce at Kansas City Chiefs Game Against Green Bay Packers
Ranking
- Where is 'College GameDay' for Week 12? Location, what to know for ESPN show
- Speak now, Taylor: How Swift can use her voice to help save our planet from climate change
- Worried about running out of money in retirement? These tips can help
- Jim Leyland elected to baseball’s Hall of Fame, becomes 23rd manager in Cooperstown
- After Baltimore mass shooting, neighborhood goes full year with no homicides
- The death toll from a mining tragedy in South Africa rises to 13 after a worker dies at a hospital
- Taylor Swift and Travis Kelce Spotted at Kansas City Christmas Bar With Patrick and Brittany Mahomes
- Horoscopes Today, December 2, 2023
Recommendation
-
Beyoncé has released lots of new products. Here's a Beyhive gift guide for the holidays
-
70-year-old woman gives birth to twins in Uganda, doctor says
-
Italian city of Bologna braces for collapse of leaning Garisenda Tower
-
Steelers dealt big blow as Kenny Pickett suffers ankle injury that could require surgery
-
Harriet Tubman posthumously honored as general in Veterans Day ceremony: 'Long overdue'
-
Virginia woman won $1 million after picking up prescription from CVS
-
'Colin From Accounts' deserves a raise
-
Historian Evan Thomas on Justice Sandra Day O'Connor