Home » NEWS » Manufacturing » Alloy ingredient firm sets $10M Mississippi plant, hiring 25

Alloy ingredient firm sets $10M Mississippi plant, hiring 25

A maker of steel and aluminum alloy ingredients is opening a plant in northeast Mississippi.

Traxys Cometals Processing announced Thursday that it’s investing $10 million and will hire 25 workers.

The plant will be completed this month at Yellow Creek Port on the Tennessee Tombigbee Waterway near Burnsville.

Mississippi Development Authority spokeswoman Tammy Craft says Yellow Creek is borrowing state money for construction and will own the building. The state is giving $425,000 to help pay for equipment and $250,000 for road improvements.

Tishomingo County is granting property tax abatements projected at nearly $2.3 million over 10 years.

Craft says the jobs qualify for incentives rebating some worker income taxes to the company. That requires Luxembourg-based Traxys pay workers at least $35,380 annually. Traxys could get $350,000 over 10 years.

BEFORE YOU GO…

… we’d like to ask for your support. More people are reading the Mississippi Business Journal than ever before, but advertising revenues for all conventional media are falling fast. Unlike many, we do not use a pay wall, because we want to continue providing Mississippi’s most comprehensive business news each and every day. But that takes time, money and hard work. We do it because it is important to us … and equally important to you, if you value the flow of trustworthy news and information which have always kept America strong and free for more than 200 years.

If those who read our content will help fund it, we can continue to bring you the very best in news and information. Please consider joining us as a valued member, or if you prefer, make a one-time contribution.

Click for more info

About Associated Press

Leave a Reply

Your email address will not be published. Required fields are marked *

*