IUKA — Dennen Steel Corp. has opened its new manufacturing facility in the northeastern corner of Mississippi.
Gov. Phil Bryant was among those attending a ceremony yesterday at the 50,000-square-foot plant at Yellow Creek Port in Iuka. Workers will turn slit steel coils into precision stampings, fabricated metal parts and assemblies.
The Grand Rapids, Mich.-based company is investing about $7.4 million in the Mississippi plant, creating 50 jobs. The project was announced in 2010, and construction started in July 2011.
Mississippi Development Authority, the state’s economic agency, provided a $20 million loan to Tishomingo County to construct the building. MDA also gave the county a $781,424 grant for infrastructure at the plant site.
MDA says the Appalachian Regional Commission and Tennessee Valley Authority also provided assistance for the project, but details about the assistance were not immediately available Tuesday.
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