Mississippi legislators wasted little time April 26 in approving an incentive package to solidify a deal that will see Yokohama Rubber Co. build a new radial truck/bus tire plant in that state.

The Mississippi House voted 117-2 and the Senate was unanimous in a complex incentive package that could be worth as much as $300 million, according to reports.

Gov. Phil Bryant, who called the lawmakers into an emergency session, signed the bill on the same day it was passed.

For its part, YRC will invest $300 million on the first phase of the project, bringing 500 much needed jobs to Clay County, where the local unemployment rate hovers around 18%, reports said. The plant site is located in the city of West Point.

The multi-phase YRC project that could eventually mean 2,000 jobs and a total investment of $1.2 billion.

The incentive package includes $70 million from the state for land acquisition (approximately 500 acres), infrastructure construction and worker training.

YRC said the plant will be expanded in phases based on “future business growth” and each $300 million of tiremaker investment will bring $20 million in additional state aid, reports said. Other incentives are coming in the form of tax breaks and direct and indirect assistance from county and local governments as well as from both the Tennessee Valley Authority and Atmos Energy.

While YRC did not specify what future expansion could mean, Brent Christensen, executive director of the Mississippi Development Authority, told media that in the future the plant could also product consumer tires.

"The job creation is so much more important than anything we might collect," said West Point Mayor Scott Ross. "Our people are hungry. This truly is a godsend."

“This is an historic day for Mississippi, and we are proud to welcome this world-leader in tire manufacturing to our great state,” said Gov. Bryant. “The passing of this legislation will result initially in 500 new jobs, with the potential to create up to 2,000 total jobs, and it will have a positive impact on the state’s economy for years to come.”