Gov. Phil Bryant and officials from Feuer Powertrain GmbH held an announcement and groundbreaking ceremony today in Tunica, Miss., at the future site of the company's first U.S. manufacturing operations. The project represents a $140 million corporate investment and will create 300 new jobs.
Feuer, manufacturer of crankshafts for the automotive and transportation industry, will begin production in Tunica in late 2014.
"I am grateful to the Feuer team for choosing the Mississippi Delta as the home of its first U.S. manufacturing facility and for creating so many job opportunities for the area's residents," Gov. Phil Bryant said. "Feuer's decision to invest in Mississippi strengthens our state's growing automotive industry, and it serves as a testament to the world that our state is a great place to do business. Global companies continue to choose Mississippi, and I am proud to welcome Feuer as our newest partner. I wish them many years of success in Tunica."
"After an intensive site selection process, we are convinced that our decision to locate our first overseas manufacturing facility in Tunica, Mississippi, is the right move. The professional support of the state of Mississippi and the county of Tunica, as well as the business friendly atmosphere found here, gave us the confidence that this is an ideal place for expanding our global manufacturing footprint," said Bernd Gulden, CEO of Feuer Powertrain GmbH. "We are very proud to be part of the future of the state's business community, and we are excited to have the opportunity to make some contributions to the prosperity and growth of the region."
The Mississippi Development Authority provided assistance in support of the project through the Mississippi Industry Incentive Financing Revolving Fund for site preparation, infrastructure and workforce training. Tunica County provided assistance for the project, as well.
"We welcome Feuer as our newest corporate partner and are pleased to have been able to assist in bringing this great company to Tunica," said MDA Executive Director Brent Christensen. "We appreciate our partners in Tunica County who worked with us to make this project a reality, and we wish Feuer many years of success in our state. Feuer's decision to locate its manufacturing operations in Tunica County is just another sign of Mississippi's growing strength and position in the southern automotive corridor."
Headquartered in Nordhausen, Germany, Feuer Powertrain was formed in 2003. The company's scope of business includes the machining and processing of ready-for-installation crankshafts. Since Feuer was founded, it has invested more than $250 million in five plants in Nordhausen, where the company employs more than 400 workers