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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.


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