SemiSouth making $18M investment in new equipment; could double employment
Published: March 13,2012
STARKVILLE — SemiSouth Laboratories plans to spend $18 million to buy new equipment for its Starkville facility, a move that could double employment there over the next 18 months.
Privately-held SemiSouth makes silicon carbide semiconductors for solar panels, wind turbines, electric cars and other devices that need to transmit power without leaking any electricity along the way. Right now it has 115 employees
Jeff Cassady, a former Mississippi State University professor who is one of the company’s co-founders, said that one of SemiSouth’s current investors is putting up the money.
Cassady didn’t name the investor. Power Integrations put $30 million into SemiSouth in 2010. Before that, SemiSouth had raised $20 million from venture capital investors and $30 million from federal grants and contracts.
SemiSouth has invested $40 million in facilities and equipment since it was founded in 2000, Cassady said. He said employees in Starkville should rise to 230 over the next 18 months.
It’s the second expansion of the facility in the last 18 months, SemiSouth said.
“This new expansion will allow us to expand our volume another 50 percent for these customers and new ones starting up with us,” Cassady said in a statement.
He declined to release sales figures for SemiSouth.
To sign up for Mississippi Business Daily Updates, click here.
One Response to “SemiSouth making $18M investment in new equipment; could double employment”
Mississippi Economic Council
Mississippi Chambers of Commerce
Mississippi State Legislature
Mississippi Development Authority
Mississippi Economic Development Council
North Mississippi News
Social Security Disability Lawyer
Auto Accidents Lawyer
Top Posts & Pages
- Ingalls to lease former SRHS clinic in Gautier for employee medical center
- Aluminum company rumored for Columbus: 'clock' is for website, not plant site
- Shale oil: market correction or longterm direction?
- Miss. surgeon sentenced in tax evasion case
- WILLOUGHBY: Mayo Flynt leads AT&T Mississippi by enjoying both work and workers
- MARTIN WILLOUGHBY: Gary Herring building tomorrow by educating today
- MBJ exclusive: Jackson’s new airport CEO fulfills desire to taking on the top job
- Hyatt-Place is Columbus’ newest hotel option
- Pearl ordering rental properties to retrofit with sprinklers, build storm shelters