Caterpillar, which already employs 1,200 people at four manufacturing plants and a warehouse in Corinth, cut the ribbon on its newest facility this morning on its Large Engine Remanufacturing Facility, also known as Plant No. 2.
The $14.8 million investment will generate 30 jobs and also expands the company’s capabilities to further. Caterpillar is remanufacturing the 21-ton C175 engine, which is used for mining vehicles and power plants.
Caterpillar is using the former Tecumseh building in Corinth, turning what had been a warehouse space for Cat into a remanufacturing plant.
Remanufacturing is much like refurbishing, but every part is disassembled, retooled and put in good-as-new shape.
Greg Folley, Caterpillar’s vice president of remanufacturing, components and work tools division, said the project, which has been in the works for two years, said Corinth landed the project over Caterpillar sites in Indiana.
There, the facilities manufacture and remanufacture, and the Corinth operations were a better fit, he said.
The Mississippi Development Authority provided a $300,000 grant for renovations, while The Alliance of Corinth and Alcorn County provided $10,000 in matching funds.