Power connector firm to open 125-worker Mississippi facility
OLIVE BRANCH, Miss. (AP) — A company that makes powerline connectors and tools is opening a 125-employee factory and distribution center in northwest Mississippi.
DMC Power of Carson, California, announced Tuesday that it is investing $8 million in Olive Branch and will hire the workers over five years.
Mississippi Development Authority spokeswoman Tammy Craft says the state is giving $1.3 million for equipment relocation and building improvements, plus $100,000 for worker training. Olive Branch and DeSoto County will abate property taxes worth a projected $1.2 million over 10 years.
The company says proximity to customer Tennessee Valley Authority helped attract it.
Craft says the jobs qualify for incentives rebating some worker income taxes to the company. That requires DMC Power pay workers at least $37,380 annually. DMC Power could get $1.87 million over 10 years.