Jackson, Mississippi — February 14, 2018 — Richardson Molding is expanding in Philadelphia, Mississippi, to accommodate a significant increase in product demand. The project is a $5.256 million investment and creates 53 jobs.
“New jobs are vital to the well-being of our state’s economy and to creating vibrant communities. Richardson Molding’s investment in its Philadelphia operations and creation of more than 50 jobs position the company for many more years of success and growth in our state,” Governor Phil Bryant said.
Richardson Molding is a leading manufacturer of proprietary and custom plastic injection-molded products for the industrial lead-acid battery market. The company is adding new equipment at its existing facility to support the expansion.
“Richardson Molding appreciates the help of David Vowell with the Community Development Partnership, as well as Philadelphia Utilities and the Tennessee Valley Authority,” said Richardson Molding CEO Steve Dyer. “Richardson Molding also plans to take advantage of available training and apprenticeship programs in the future. In 2017, Richardson Molding spent more than $1,247,000 on facilities upgrades using local contractors.”
The Mississippi Development Authority and local economic development assisted the company with guidance on statutory tax incentives. The Tennessee Valley Authority provided assistance, as well.
“Mississippi works hard to ensure companies know the many competitive advantages offered by a Mississippi location,” said MDA Executive Director Glenn McCullough, Jr. “Richardson Molding is a stellar example of a company using the advantages Mississippi offers to expand and create new careers, providing new opportunities for the people of Neshoba County and contributing to the economic growth of the East Mississippi region.”
Richardson Molding currently employs 135 at its Philadelphia location. The company expects to fill the 53 jobs over the next two years.