Business Facilities - April 2008 - (Page 19)

programs that include training for our future workforce.” And, the Toyoda Gosei facility isn’t the only automotive-related plant that MDA has been instrumental in securing. In fact, the organization has been courting the automotive industry for the past twelve years, coinciding with Nissan’s decision to locate in the state. MDA officials are optimistic about Mississippi’s ability to attract even more growth in this sector, stating that “with its central location in the Southern automotive corridor, Mississippi offers companies a prime location [for] new production and/or distribution centers [that can] serve facilities in not only the state but in surrounding areas.” Mississippi has recently devoted millions of dollars to attracting facilities in the automotive industry, initiating a $48.4 million bond package in 2007 that was created to facilitate the building of PACCAR’s new plant there (see sidebar). The state has also leveraged its universities to attract automotive companies. Not only do the universities provide potential businesses with a great labor pool, they also act as resources for plants such as those opened by TAB, PK USA, and Toyoda Gosei. “The research universities in the state have developed facilities … that can support modern manufacturing and assist companies with finding solutions to problems,” MDA offiis supported by the Mississippi State University, the Mississippi University for Women, and several community colleges. According to the MDA, “the availability of land and water plus competitive utility rates [has] proven attractive to companies seeking sites,” and PACCAR is no exception. Mississippi beat out 12 states considered as potential PACCAR plant sites. PACCAR’s “announcement further demonstrates that Mississippi is poised to continue to be a major player in the automotive industry,” states U.S. Senator Thad Cochran. PACCAR is investing $300 million in the proposed facility, following the Mississippi Legislature’s April approval of a $48.4 million bond package in support of the project. Roughly half of the state funding will be used for roads, sewage, fire service, and other essential on-site infrastructure. The remaining half of the bond will support additional off-site infrastructure and a training center. cials claim. Research units such as the Center for Advanced Vehicular Systems at Mississippi State University’s (MSU) campuses in Starkville and Canton are obvious assets to Toyota and their suppliers, as are the Center for Advanced Manufacturing Excellence at the University of Mississippi in Oxford and the School of Polymers and High Performance Materials at the University of Southern Mississippi in Hattiesburg. The latter two institutes are assets not only to the automotive industry, but to the aerospace and defense industries as well. Mississippi has experienced significant growth in these sectors, and this has taken place in concert with the overwhelming PACCAR SLATED TO OPEN NEW PLANT IN MISSISSIPPI In May 2007, two months after Toyota announced the development of a new plant in the state, PACCAR, a truck manufacturer, also announced its plans to build an engine manufacturing and assembly plant there. The plant, which will create 500 new jobs, is slated to open in Lowndes County, MS in 2010. Lowndes County, part of Mississippi’s Golden Triangle, is strategically located at a “transportation crossroads,” notes the Mississippi Development Authority (MDA), in an area that By 2010, engines for PACCAR trucks like this one will be manufactured and assembled at the company’s new Mississippi facility. PHOTO CREDIT: TAMMY CRAFT, MDA #2005 at www.BusinessFacilities.com BUSINESS FACILITIES 19 http://www.embdc.org http://www.embdc.org http://www.BusinessFacilities.com

Table of Contents Feed for the Digital Edition of Business Facilities - April 2008

Business Facilities - April 2008 Contents First Word Snapshots Corporate Moves: Ohio Businesses On the Move Corporate Moves: Nebraska If You Build It, They Will Come A Tale of Two Industries Economic Transformation In the Islands Diversity: A New York State of Mind Growing in the Sun Key Kansas Industries Get a Boost How To Choose the Right Commercial Real Estate Broker Missouri Downtowns Dare to Dream Advertiser Index Ask the Expert

Business Facilities - April 2008

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