An auto parts maker, hago Automotive Corp., will open a $10 million plant in Tishomingo County and hire 80 workers, the company announced Friday.
The company says it is expecting to begin operations by mid-2016.
Gov. Phil Bryant said in a news release that “Mississippi’s automotive industry is a major economic driver for our state, and hago’s decision to locate in northeast Mississippi further strengthens our position as a leader in the Southern Automotive Corridor.”
Garry Matthews, executive director of the Tishomingo County Development Foundation, said that hago would primarily provide parts for the BMW assembly plant in Spartanburg, S.C., and also parts for the Mercedes-Benz plant in Vance, Ala.
The company will occupy a 50,000-square-foot county-owned building vacated by a steel fabricator. The county donated two bridge crains valued at $200,000, Matthews said.
“We are excited to join the Mississippi business community and begin operations in Iuka. Our new location will allow hago Automotive to effectively and efficiently serve our customers,” hago Automotive President and CEO Joerg Goeppert said in the news release. “We thank the Mississippi Development Authority, Tishomingo County, the Tishomingo County Development Foundation and Tennessee Valley Authority for their support as hago Automotive prepares to locate in Northeast Mississippi.”
Efforts to reach Goeppert for further comments were unsuccessful.
Mississippi Development Authority provided $500,000 for the purchase of equipment and other costs.
The company is a subsidiary of Germany-based hago Feinwerktechnik GmbH. Founded more than 40 years ago, it has grown from a regional tool shop to a specialized manufacturer and global supplier of sheet metal and stamped automotive parts.