Alliant Techsystems (ATK), an aerospace manufacturer and defense contractor, will invest approximately $200 million to expand its facility in Iuka, Mississippi, according to the Mississippi governor's office. The company plans to add about 625 new jobs over the next eight years at an average annual salary of $53,000 plus benefits; there are already 176 people employed at the plant. The expansion will allow the Minnesota-headquartered company to manufacture composite structures for commercial aircraft at the Iuka facility. "Expanding ATK's presence in Mississippi, with its talented work force, strong university system, and pro-business environment, is the right strategic move for our company," says Dan Murphy, ATK's chair and CEO. "In this partnership, we harness a shared world-class expertise and experience in advanced composite engineering and manufacturing that will generate long-term, sustained economic growth for both the state and our company." The Associated Press reports that state and local agencies have offered ATK at least $30 million in financial incentives.