(Photo from Solero Technologies website)
Automotive parts manufacturer Solero Technologies is expanding its operations in Water Valley, investing more than $14 million and creating 86 new jobs.
The expansion will add 14 manufacturing lines at the company’s Water Valley facility and include upgrades designed to increase production capacity. Improvements will be made to the facility’s electrical systems, information technology infrastructure, heating, ventilation and air conditioning systems, compressed air systems, roofing and flooring.
Solero Technologies is a global supplier of actuator and solenoid valve solutions for the automotive industry and other industrial sectors.
The company’s Water Valley facility has operated since 1972 and has grown to become Solero’s largest production operation worldwide.
Gov. Tate Reeves said the company’s decision to expand reflects both its long history in Mississippi and its plans for future growth.
“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,” Reeves said. “That kind of long-term growth keeps Mississippi manufacturing moving forward and keeps Mississippians employed in good, steady jobs.”
The Mississippi Development Authority is assisting with the project through the Mississippi Flexible Tax Incentive, or MFLEX, program. The Yalobusha County Economic Development District also is supporting the expansion.
MDA Executive Director Bill Cork said the investment builds on Solero’s decades-long presence in Water Valley.
“This expansion builds on that legacy while bringing 86 new jobs and a significant new investment to Yalobusha County,” Cork said. “I am proud to see a longtime Mississippi manufacturer continue growing, creating opportunities and building for the future right here at home.”
Solero Technologies CEO Dr. Donald R. James said continued investment in the Water Valley facility will play an important role in the company’s broader growth strategy.
Solero’s goal is to become a top-three global leader in mobility controls technology as the company works toward becoming an enterprise with more than $1 billion in business, James said.
“Continued investment in our Water Valley, Mississippi, facility will be essential to advancing our growth strategy and supporting Solero’s future product development transformation in global mobility,” James said. “We deeply value our partnership with the state of Mississippi and the investment in Solero’s continued success.”
The latest expansion continues more than five decades of manufacturing operations for Solero in Water Valley while adding new production capacity and employment opportunities in Yalobusha County.