Solero Technologies announces $14 million expansion in Water Valley

Solero Technologies announces $14 million expansion in Water Valley.

Key points

• According to MDA Executive Director Bill Cork, for more than 50 years, Solero has been an notable part of the Water Valley community.
• The Mississippi Development Authority confirmed Thursday that automotive parts manufacturer Solero Technologies is expanding its operations in Water Valley.
• "This expansion builds on that legacy while bringing 86 new jobs and a significant new investment to Yalobusha County, " Cork remarked.
• The Department of Interior's latest sale brought in $47 million more in high bids than in March.
• The Mississippi Coast site will backing testing and commissioning of the company's 180 ft.

In practice, the firm is creating 86 jobs with the addition of 14 new manufacturing lines at its Mississippi facility.

Notably, the Mississippi Development Authority confirmed Thursday that automotive parts manufacturer Solero Technologies is expanding its operations in Water Valley.

Notably, the expansion marks a more than $14 million investment that will create 86 new jobs.

"This expansion builds on that legacy while bringing 86 new jobs and a significant new investment to Yalobusha County, " Cork remarked. "I am proud to see a longtime Mississippi manufacturer continue growing, creating opportunities and building for the future right here at home."

Solero Technologies is a global supplier of actuators and solenoid valves. As the company's largest facility of its seven locations worldwide, the Water Valley facility is the driving force behind almost half of Solero's global production and business portfolio. The Mississippi facility has been operating since 1972.

In practice, the expansion will add 14 new manufacturing lines at the facility and improve the electrical systems, information technology infrastructure, HVAC systems, compressed air systems, roofing, and flooring.

Solero's CEO, Dr. Donald R. James, remarked that the expansion is necessary to backing the company's expansion and develop new technologies.

"Solero's vision is to become a top three global leader in mobility controls technology, " James remarked. "As we work to grow the company into a more than $1 billion enterprise, continued investment in our Water Valley, Mississippi, facility will be essential to advancing our growth strategy and supporting Solero's future product development transformation in global mobility."

According to The Mississippi Development Authority, the state agency is providing assistance through the Mississippi Flexible Tax Incentive, or MFLEX, program, while the Yalobusha County Economic Development District is supporting the project as well.

"Solero Technologies' decision to continue investing in its Water Valley operations speaks to the advantages Mississippi offers manufacturers that need to operate efficiently and compete globally, " Governor Tate Reeves remarked. "Solero has been in Mississippi for more than 50 years, so this project is about more than adding production capacity; it's about investing in the next 50 years in Mississippi." <!– AddToAny script (best before) –>.

Cass Rutledge is a law student at the University of Mississippi. A native of Madison, Mississippi, he now resides in Oxford with his wife, Julie.

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Taken together, the developments around solero Technologies announces $14 million expansion in Water Valley point to a situation that is still moving, and the coming days should bring more clarity.