Caterpillar is expanding its Corinth, Mississippi, operations center with the addition of a 540,000 square foot warehouse and logistics facility in Alcorn County, initially adding 35 jobs.
The new center represents a total capital investment of $34.5 million. A $27 million warehouse and logistics facility will be constructed by Jumper Realty and leased to Caterpillar, which will expand its operation in northern Mississippi. Caterpillar will invest $7.5 million in new equipment.
"We are pleased to be expanding our logistics operations in Corinth. This facility will play an important role in supporting our existing remanufacturing operations," said Nicki Rambeau, logistics center manager for Caterpillar Logistics. "Caterpillar has enjoyed a longstanding relationship with the Corinth community, and we appreciate the continued support of the state and our local Alcorn County partners."
The new center will replace various small warehousing and distribution facilities located throughout Alcorn and Prentiss counties that Caterpillar currently operates through short-term leases. Operations at the facility will include the warehousing of engine parts and the shipping of individual and bundled parts to the company's remanufacturing facilities located in Corinth and Booneville, Mississippi and other areas. Additionally, the facility will house the company's logistical and ordering operations. Caterpillar will continue to operate its remanufacturing operations in Alcorn and Prentiss counties.
"Today is a great day for Caterpillar, the City of Corinth and Alcorn County, and the state of Mississippi," Governor Phil Bryant said. "I thank both Caterpillar and Jumper Realty for working together to make this new operation possible. This facility will have a positive economic impact both locally and statewide, and I appreciate Caterpillar's ongoing investment in our state and in our workforce."
As part of an incentive package, Mississippi Development Authority helped facilitate the project by providing assistance for infrastructure improvements to the access road at the site of the facility. The City of Corinth and Alcorn County also provided funding for infrastructure improvements.
"Today's announcement is great news for Corinth and Alcorn County, and it presents great opportunities for the area's workforce, now and into the future," said Mississippi Development Authority Interim Executive Director Jim Barksdale. "Caterpillar's Mississippi Logistics Service Center marks a significant investment in Corinth and Alcorn County and demonstrates the company's ongoing commitment to do business in Mississippi. I am grateful to the company, Jumper Realty and everyone at the state and local levels who worked together to bring this project to fruition. "