December 7, 2017 10:33:33 AM
GREENWOOD -- Milwaukee Tool announced Wednesday that it will add a total of 660 jobs at three Mississippi locations, investing $33.4 million to make and distribute more power tools.
The unit of Hong Kong-based Techtronic Industries said that it will expand the production of cordless power tools and accessories, as well as increase distribution capacity at facilities in Greenwood, Olive Branch and Jackson. The expansions over the next four years will bring Milwaukee Tool's statewide employment to nearly 2,300.
The state is giving Milwaukee Tool nearly $11 million for infrastructure and building renovations, Mississippi Development Authority spokeswoman Tammy Craft said. The state will loan Greenwood $5 million to buy a former beer distribution warehouse, renovate the unused half of a second building and replace a parking lot. Milwaukee Tool will repay that loan through lease payments.
The state is also providing $1.5 million to pay for job training. Craft said Milwaukee Tool expects to seek property tax breaks at each location, but didn't specify a value.
Milwaukee Tool will add 60 jobs to its current 163 in Jackson, where it makes power tools. It will add 300 jobs to its current 659 in Greenwood, where it makes saw blades and drill bits and repairs tools. And the company will add 300 jobs at its 800-worker Olive Branch distribution center.
Of the state grants, $1.5 million will go to Jackson, $9 million to Greenwood and $350,000 to Olive Branch
It's the fourth time Milwaukee Tool has expanded in Mississippi since 2012. The Greenwood plant opened in 2001
"We are deeply committed to investing in our people as we continue to deliver disruptive innovation and the highest quality products for our users and distribution partners," Milwaukee Tool Group President Steve Richman said in a statement.
The company declined to release pay levels.
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