GLUCKSTADT, Miss. (AP) — Industrial supplier Fastenal will build an $11.5 million distribution center in Mississippi, hiring 60 workers.
Minnesota-based Fastenal announced plans Monday for the Gluckstadt warehouse, saying it will open by fall 2019. The company will own the 129,000 square-foot (12,000 sq.-meter) warehouse.
CEO Dan Florness says Fastenal’s 15th North American distribution center will strengthen its network.
Spokeswoman Tammy Craft says the Mississippi Development Authority will give Fastenal $350,000 for site preparation and $150,000 for infrastructure. The Madison County Economic Development Authority is providing $115,000 for infrastructure.
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Craft says Madison County will grant property tax breaks, but projected value is unavailable.
Craft says Fastenal will pay workers $58,000 yearly on average. Fastenal will qualify for incentives rebating some worker income taxes to the company. Fastenal could get $1.4 million over 10 years.
This story has been corrected to show employees will make $58,000 a year on average, not $85,000. It reduces the amount of income tax rebates projected from $2 million to $1.4 million.