Automotive parts manufacturer Solero Technologies is expanding its operations in Water Valley with a $14 million investment.
The Mississippi Development Authority announced Thursday that the company will add 14 new manufacturing lines at its existing facility and make upgrades to support its production capacity. Upgrades include making improvements to the electrical systems, information technology infrastructure, HVAC systems, compressed air systems, roofing, and flooring.
The project is expected to create 86 new jobs. Solero’s Water Valley facility has been a part of the state’s local manufacturing community since 1972 and has grown to become the company’s largest production operation globally.
“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,” Gov. Tate Reeves said. “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 its next 50 years in Mississippi. That kind of long-term growth keeps Mississippi manufacturing moving forward and keeps Mississippians employed in good, steady jobs.”
Solero brands itself as a leading global supplier of actuator and solenoid valve solutions for the automotive industry and other industrial sectors. As is the case with most major economic development projects in the state, the Mississippi Development Authority is assisting financially through the Mississippi Flexible Tax Incentive program. The Yalobusha County Economic Development District is also supporting the project.
“For more than 50 years, Solero Technologies has been an important part of the Water Valley community and Mississippi’s manufacturing sector,” Mississippi Development Authority Executive Director Bill Cork said. “This expansion builds on that legacy while bringing 86 new jobs and a significant new investment to Yalobusha County. I am proud to see a longtime Mississippi manufacturer continue growing, creating opportunities and building for the future right here at home.”
