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Almost one year after breaking ground on a its new Mississippi plant, Continental Tire says the company has surpassed several key milestones.
A fact sheet the German manufacturer sent out shows that the company has started installing piling for the 5.2 million square-foot building, cleared 700 acres of land and moved 4 million cubic yards of dirt.
Continental could make Mississippi a major player in global tire market
The earth work, which has sometimes continued throughout the night hours, at the Hinds County facility is now 95 percent complete, the company says.
State and local government leaders kept negotiations to bring Continental secret for several years until just before the 2016 legislative session, when lawmakers pushed through an incentive package worth approximately $600 million. As part of its deal with Mississippi, Continental agreed to create 2,500 jobs that pay an average of $40,000 per year.
Other construction milestones include the laying of 14,000 feet of drain piping, 12,000 feet of concrete piping and four retention ponds that can hold over 64 million gallons of storm runoff.
So far, Continental also says the company has spent $4 million locally, contracting with 14 companies – eight of them from Mississippi, three minority owned firms – with 100 people working on the site.
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Hum I thought our flag kept business from locating in our great State. Must have been propaganda .
The state of MS gave Continental $874 million in bonds and incentives. Continental has until 2028 to create 2500 jobs that earn $40k/year or higher. and the plant won’t turn a profit for the state until 2040. The average production associate salary at U.S.-based Continental plants is $23,522/year. Real sound investment.
So if you consider paying ridiculous premiums to attract businesses when you have very little else to offer employers as “propaganda,” good for you, I guess.
Yeah tell that to the folks who needs the jobs, you know those folks who don’t have one now. You do no that all States give incentives to business’s to locate in their State….your smart I am sure you knew that.And your post does not address my original post so there’s that.
Thanks for the compliment; I am smart. Sadly, you’re not too adept at reading comprehension, otherwise you’d understand that I did answer your question. While other states do offer incentives, surrounding states like Alabama and Tennessee have more stringent programs—and pay less. Like companies meeting hiring and salary metrics within shorter periods of time.
Hey no problem my friend we have danced this dance before. I tell you what you need to run for Governor, I would vote for you cause you my friend have all the answers.
”As part of its deal with Mississippi, Continental agreed to create 2,500 jobs that pay an average of $40,000 per year.”
Average? wonder what the starting wage is and what the top wage is that’s being used to come up an ‘average’ of 40K per year.
10-15% of of employees will likely earn more than $40k/year (management and engineers). What does that leave as an average wage for Mississippi job seekers? Somewhere around $29k-34k per year. And factoring MS manufacturers’ penchant for funneling workers through contract services, there’s no way they’ll meet that average.