BY THE PACKET
After more than two years, Yokohama Tire Manufacturing Mississippi will be holding a grand opening at its West Point facility on Monday.
In 2013, the $1.2 billion announcement came after a special session was called for Mississippi legislators to approve a $70 million incentive package from the Mississippi Development Authority. The special session was called by Gov. Phil Bryant.
According to Golden Triangle Development Link CEO Joe Higgins, the project is a four-stage development with Yokohama committing $300 million per phase for a total investment of $1.2 billion over approximately 10 years. Each phase is scheduled to 500 jobs for a total of 2,000 jobs when the project is completed.
The state has committed to an additional $60 million for the project — $20 million per additional phase — as well tax breaks and statutory programs.
Clay County will commit $11 million to the first phase and it will be responsible for up to $3.5 million per additional phase.
The 570 acre site plans to be a tier-one supplier for Toyota in Blue Springs and Nissan in Canton.
“This is a great day for Yokohama, Mississippi and the community of West Point,” said YTMM’s President Tadaharu Yamamoto at the 2013 groundbreaking ceremony. “As we move forward with construction of our new tire-making facility, I’d like to personally thank Gov. Bryant, his staff and all the people in Mississippi for their support on this incredible endeavor. There’s no question we made the right choice coming to Mississippi with this project.”
Yokohama is making an initial $300 million investment in the facility with approximately 500 jobs expected to be created at first phase. The roughly 1-million-square-foot factory, to be constructed on more than 500 acres of land, will include production, warehousing and operations facilities, and will produce up to one million tires annually. The total investment is more than $2 billion.0