In case you missed it from my tweets earlier today,(@dennisseid), Aluma-Form of Memphis is opening a 70,000-80,000 square foot manufacturing and distribution facility in the Walnut Industrial Park.
Walnut, in Tippah County, is some 50 miles east of Memphis, where the 50-year-old company has a 160,000 square-foot facility.
The company has doubled in size since 2008, and it needed another manufacturing site.
Walnut was one of four sites the company looked at.
The company plans to be up and running on its 17-acre site in Walnut by this time next year, and will create 125 jobs.
The company makes overhead power distribution products for domestic and international customers. And what are overhead power distribution products? If you look at a utility pole – a light pole – and look at the top. you’ll see various brackets, braces, insulating arms, etc. That’s what Aluma-Form makes.
The company is investing $6.7 million.
The state is also providing some incentives, including $400,000 for relocation, $697,500 for workforce training and recruitment, $1 million for infrastructure improvements and a $4.4 million loan to Tippah County for capital improvements and construction. In addition, the Appalachian Regional Commission provided a $200,000 grant for site preparation and TVA provided a $170,000 grant.
In local matching money, Tippah County is providing $155,000 for parking and public utility work and Walnut is adding $40,000.
More in tomorrow’s Daily Journal.