ACKERMAN, Miss. (From news reports) -- The Mississippi Development Authority announced Monday that Southeastern Timber Products is expanding its operations in Ackerman.
According to MDA, the project represents a corporate investment of $123.4 million and will create 40 new jobs expected to be filled within the next two years.
Governor Tate Reeves welcomed the announcement, saying that Southeastern Timber's expansion speaks volumes about the special things happening in Mississippi.
"Mississippians are proud of our state's manufacturing capabilities, and we're excited to see the increased demand for them," Reeves said. "This multi-million-dollar investment and these 40 new jobs are a massive win for Choctaw County, and it's a remarkable way to start the new year."
Southeastern Timber Products is a family-owned and operated manufacturer of Southern pine lumber, timber, and decking products and has been in continuous operation since 1972. In November 2018, British Columbia-based Tolko Industries entered into a joint-venture partnership with Southeastern Timber Products to form Southeastern Timber Products LLC, An STP-Tolko Partnership.
The company's expansion of its Ackerman sawmill will increase its production capacity from 120 million board feet per year to 300 million board feet per year. To facilitate the project, Southeastern Timber Products will install a new sawmill line, new dry kilns and storage facilities.
"Today's announcement enables us to further invest in our people, customers and local community," said Tolko Industries U.S. Ltd. Vice President David Manley, adding that the company greatly appreciates Mississippi's support of all strategic investments that will help them by continuing to grow STP's capacity.
Mississippi Development Authority said the agency is providing assistance through the Mississippi Flexible Tax Incentive, or MFLEX, program. Choctaw County also is assisting with the project.
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