The Mississippi Development Authority announced Thursday that automotive parts maker Solero Technologies will expand its Water Valley facility with a more than $14 million investment that it said will create 86 jobs.
MDA Executive Director Bill Cork said in the announcement that Solero has been an important part of the Water Valley community for more than 50 years. “This expansion builds on that legacy while bringing 86 new jobs and a significant new investment to Yalobusha County,” Cork said.
The agency said Solero, a global supplier of actuators and solenoid valves, operates the largest of its seven facilities in Water Valley. MDA said the site accounts for nearly half of the company’s global production and has operated since 1972.
The expansion will add 14 new manufacturing lines and upgrade electrical systems, information technology infrastructure, HVAC and compressed air systems, roofing and flooring, MDA said.
Solero CEO Dr. Donald R. James said the work is needed to support growth and new technologies. “Solero’s vision is to become a top three global leader in mobility controls technology,” James said. MDA said the state will provide assistance through the Mississippi Flexible Tax Incentive, or MFLEX, and that the Yalobusha County Economic Development District is also supporting the project. Gov. Tate Reeves said Solero’s decision to expand reflects the advantages Mississippi offers manufacturers and called the investment an effort to “invest in the next 50 years in Mississippi.”
Jon Ross Myers is the executive editor and publisher of the Mississippi News Network, Mississippi's largest digital only media company. He can be reached at editor@tippahnews.com
