Johnson Highlights Economic Development During Mississippi Tour
April 16, 2014
TUPELO, Miss. – TVA President and CEO Bill Johnson visited northeast Mississippi on Wednesday for a series of meetings and industrial tours to support and encourage continuing economic growth in the region.
TVA works with local power companies and regional, state and community partners to promote economic development. These efforts have resulted in 6,000 jobs added and retained and $1.4 billion invested by companies in northeast Mississippi in the past 18 months.
“Good jobs are coming to Mississippi and it is vital that we keep job opportunities growing,” Johnson said. “The two companies I saw today are among the dozens that have put down roots in the Magnolia State in the past two years. TVA is proud to have played a role with our many partners in these successes.”
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Johnson toured Tecumseh Products Company in Verona, Miss. Tecumseh, which makes refrigeration and air-conditioning products, announced an expansion of the Verona facility last year to meet increased global demand. The expansion will retain 350 jobs and create 150 jobs over the next five years.
He also visited Yokohama Tire Company, which is constructing a new manufacturing facility in West Point, Miss. Yokohama will have an initial capital investment of $300 million and potential plant expansions could reach up to four times the original investment level. The plant, scheduled to open in 2015, is anticipated to create 500 jobs initially and up to 2,000 jobs when all phases are complete.
While in the area, Johnson met with local business and political leaders to discuss what other opportunities should be pursued to bring jobs to the area.
“You can expect that our economic development efforts will not slow down. We want quality jobs for Mississippi and the Valley and we are thrilled to be a continuing partner in those efforts,” Johnson said.
The Tennessee Valley Authority is a corporate agency of the United States that provides electricity for business customers and local power distributors serving 9 million people in parts of seven southeastern states. TVA receives no taxpayer funding, deriving virtually all of its revenues from sales of electricity. In addition to operating and investing its revenues in its electric system, TVA provides flood control, navigation and land management for the Tennessee River system and assists local power companies and state and local governments with economic development and job creation.
Chris Stanley, Memphis, 901-577-2616
TVA Public Relations, Knoxville, 865-632-6000