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March 11, 2009

GOVERNOR BARBOUR SIGNS ATK INCENTIVE LEGISLATION INTO LAW

Governor Haley Barbour signed today legislation that provides an incentive package to assist Alliant Techsystems Inc. (ATK) in expanding operations at its Iuka, Miss., facility.

ATK currently produces large composite components for launch vehicles at its Iuka plant. Last month, the company announced it will be producing composite frame and engine components for next-generation commercial aircraft. This expansion of operations will increase the facility’s workforce from the 176 workers currently at the facility to a total of 800 high-wage employees over the next eight years.

“By locating these composite aircraft component operations at its Iuka plant, ATK has made a significant commitment to doing business in Mississippi,” Governor Barbour said. “I commend the Legislature for passing this legislation authorizing funding to support ATK in this expansion, and we look forward to the company’s continued success here in Mississippi.”

House Bill 1628 provides $25 million to assist ATK in reconfiguring its Iuka manufacturing facility and in purchasing equipment to accommodate these new operations. Key legislators, members of the Tishomingo Board of Supervisors and ATK company officials attended the bill-signing.

“Mississippi is fast becoming known for advanced composite research and development initiatives, and ATK has chosen to further capitalize on our skilled workforce and our R & D capabilities by locating these operations here,” said Gray Swoope, executive director of the Mississippi Development Authority. “This legislation will support ATK in this expansion and demonstrates the state’s support of its existing industry and its reputation as a great place for aviation and aerospace companies to do business.”