IUKA, Miss. (AP) - A rocket maker will spend $10.5 million to expand a northeast Mississippi factory, planning to hire 50 more employees by 2018’s end.
Orbital ATK Inc. of Dulles, Virginia, said Tuesday that it will make carbon fiber parts for Antares, Pegasus and Minotaur rockets in Iuka, where 140 now work. The company is also adding production for a defense contract.
Mississippi Development Authority spokeswoman Tammy Craft says aid includes $750,000 from the state and $300,000 from the Appalachian Regional Commission. Tishomingo County will provide $75,000.
The company could get $500,000 in property tax exemptions over 10 years.
Craft says jobs qualify for a rebate of part of worker income taxes to the company. Orbital ATK must pay at least $33,800 annually to qualify. The company could get $675,000 over 10 years.
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