In a commendable move to concretise economic prospects, the Mississippi Development Authority unveiled plans for Owl's Head Alloys to establish its operations in Clay County. This strategic initiative, backed by a substantial $29.245 million investment, is poised to usher in a new era of growth, creating 68 employment opportunities within the region.
MDA Executive Director Bill Cork, in his own words: "This is precisely the kind of development that can offer economic stability and future investment opportunities for years to come. MDA is excited to welcome this new venture to Mississippi, and we look forward to the many benefits it will bring to Clay County's thriving economy."
Corporate commitment and community growth
Owl's Head Alloys, headquartered in Bowling Green, Kentucky, emerges as a beacon of progress with roots dating back to 2002. From humble beginnings with a solitary furnace and a workforce of 20, the company has evolved into a formidable entity boasting five furnaces and a workforce of 150, vested in the Employee Stock Ownership Plan.
As a stalwart in secondary aluminium processing, Owl's Head Alloys specialises in melting and recycling aluminium products and by-products, thereby championing sustainability in manufacturing processes. Notably, the company's earlier collaboration with Aluminum Dynamics underscores its pivotal role as a supplier to local manufacturers.
Commendations and collaborations
Governor Tate Reeves lauds this endeavour as a triumph for Clay County and Mississippi at large, recognising the ripple effect it promises to engender in the local economic landscape.
"As a supplier for local manufacturers, including Aluminum Dynamics, Owl's Head Alloys is a perfect example of how each new economic development project can attract more businesses and jobs to our state," Reeves said in a statement.
The Mississippi Development Authority, in tandem with the proactive stance of the City of West Point and Clay County, extends invaluable support, with assistance for building enhancements and local tax abatement initiatives.
Prospects on the Horizon
Anticipated to commence construction by May, Owl's Head Alloys aims for completion within 18 months, with plans to onboard the envisaged workforce over the ensuing three years. This venture not only augurs well for immediate employment opportunities but also heralds a trajectory of sustained development and engagement within the community.
Michael Boyle, the President of Owl's Head Alloys, announced: "On behalf of the Owl's Head Alloys team, I would like to thank Governor Reeves, MDA Executive Director Bill Cork and the entire Golden Triangle Development team for the professionalism and urgency that has been provided at every step in the process of locating the new OHA facility in West Point, Mississippi."
"The 'pro-business' approach extended to OHA is a model for the country. We have been greeted with open arms and enthusiasm at every step since day one," he added.
Owl's Head Alloys stands poised to redefine the economic landscape of Clay County, breathing new life into the region's industrial fabric. With a headstrong commitment to innovation, sustainability, and community engagement, the company embarks on a journey marked by prosperity and progress.
If you wish to have a comprehensive outlook of the international aluminium value chain, please go through Al Circle's special report, Global Aluminium Industry Outlook 2024.
Responses
