Gov. Haley Barbour signed HB 1628 yesterday, which provides Alliant Techsystems Inc. with a $25 million incentive to expand its aerospace manufacturing plant in Iuka, Miss., according to the KTTC Web site.

Minneapolis-based Alliant makes ammunition, propulsion systems and aerospace supplies.

In early February, the company announced it would expand in Iuka, Miss., to make composite structures for commercial aircraft.

The company says it will keep the roughly 200 jobs already in Iuka and expand to 800 jobs by 2017 with an average salary of about $53,000. ATK is spending $175 million on the expansion.

Previous Comments

ID

144633

Comment

Are there any other perks for this company,such as unbeliable TAX Breaks? Is the success of this business directly related to a continuation of US wars?

Author

justjess

Date

2009-03-12T10:52:01-06:00

ID

144635

Comment

My bad. Please spell unbelievable.

Author

justjess

Date

2009-03-12T11:17:07-06:00

ID

144638

Comment

Here's a link to HB 1628 (PDF, 2 Mb), which runs 51 pages. It's going to take a while to sort through all the minutae in this one. The introduction reads: AN ACT TO AMEND SECTION 57-75-5, MISSISSIPPI CODE OF 1972, AS AMENDED BY SECTION 1 OF SENATE BILL 2605, 2009 REGULAR SESSION, TO REVISE THE DEFINITION OF THE TERM "PROJECT" UNDER THE MISSISSIPPI MAJOR ECONOMIC IMPACT ACT TO INCLUDE CERTAIN MANUFACTURERS OF COMPOSITE COMPONENTS FOR THE AEROSPACE INDUSTRY WITH AN INITIAL PRIVATE INVESTMENT OF NOT LESS THAN $175,000,000.00 WHICH WILL RESULT IN FULL-TIME EMPLOYMENT OF NOT LESS THAN 275 PERSONS BY DECEMBER 31, 2011, NOT LESS THAN 425 PERSONS BY DECEMBER 31, 2013, AND NOT LESS THAN 800 PERSONS BY DECEMBER 31, 2017, WITH AN ANNUAL AVERAGE COMPENSATION OF AT LEAST $53,000.00; TO AMEND SECTION 57-75-11, MISSISSIPPI CODE OF 1972, AS AMENDED BY SECTION 2 OF SENATE BILL 2605, 2009 REGULAR SESSION, TO GRANT THE MISSISSIPPI MAJOR ECONOMIC IMPACT AUTHORITY CERTAIN ADDITIONAL POWERS AND DUTIES WITH REGARD TO SUCH PROJECTS; TO AMEND SECTION 57-75-15, MISSISSIPPI CODE OF 1972, AS AMENDED BY SECTION 3 OF SENATE BILL 2605, 2009 REGULAR SESSION, TO AUTHORIZE THE ISSUANCE OF STATE GENERAL OBLIGATION BONDS FOR SUCH PROJECTS AND TO SPECIFY THE PURPOSES FOR WHICH THE PROCEEDS OF SUCH BONDS MAY BE UTILIZED; AND FOR RELATED PURPOSES.

Author

Ronni_Mott

Date

2009-03-12T11:48:40-06:00

ID

144640

Comment

WOWWWWW!!!!!!!

Author

justjess

Date

2009-03-12T12:01:53-06:00

ID

144641

Comment

I had other words for it, Justjess, which I can't say here, but I'm guessing we shared the same (nauseous) feeling. Clauses like "...and for related purposes" makes the small hairs on the back of my neck stand up.

Author

Ronni_Mott

Date

2009-03-12T12:14:09-06:00