Cooper Tire & Rubber Co. met with Mississippi governor Phil Bryant and other legislators this week about the possibility of receiving $20 million from the state to help modernize its Tupelo plant, according to local reports.
The tiremaker has said it plans to spend $140 million worldwide for an “equipment modernization project.” Money from the state would help lure the tiremaker to spend money at the plant, the Daily Journal Jackson Bureau reported.
Cooper also has plants in Mexico and China that could receive some of the company’s $140 million investment.
An agreement between Mississippi and Cooper would provide a $20 million investment from the state plus $18 million from Tupelo. In the agreement Cooper would commit a minimum of 1,300 jobs at the plant for an additional 10 years.
