Alliant Techsystems will build composite structures for commercial aircraft at its plant at the Tri-State Industrial Park at Yellow Creek near Iuka, Barbour announced Monday.
The plant, which currently employs 176 people at the Iuka location, is scheduled to increase its work force to 800 within the next eight years.
“This is high-end advanced manufacturing,” Barbour said. “…This is not only a big deal because of the national economy, but because it is a perfect fit” for the aerospace and automotive manufacturing the state has been recruiting in recent years.
As part of the agreement to lure the company to expand at Iuka, the state, pending legislative approval, will issue $25 million in bonds. Tishomingo County will issue $5 million in bonds that will be paid back through tax revenue from the plant.