IUKA, Miss. (AP) — German auto parts supplier Hago Automotive Corp. will open a metal stamping plant in Tishomingo County, investing $10 million and hiring 80 people.
The company and Gov. Phil Bryant made the announcement Friday. Hago, based in Küssaberg, Germany plans to start operations in Mississippi by mid-2016.
Hago will lease a 50,000 square-foot building at the state's Yellow Creek Port
Mississippi Development Authority spokeswoman Tammy Craft says the state agency will give Hago $500,000 to subsidize equipment and relocation costs. Tishomingo County will grant a 10-year non-school property tax break projected to be worth $800,000. The Tennessee Valley Authority provided undisclosed assistance.
Hago Automotive CEO Joerg Goeppert says the company needed an American plant to supply its customers. Craft says Hago will sell parts to BMW's plant in Spartanburg, South Carolina.