On Tuesday, Gov. Phil Bryant joined state and local leaders at ribbon-cuttings for Dennen Steel and Contract Fabricators.
Dennen Steel is based in Grand Rapids, Mich., and its Iuka plant is its initial foray into the Southern states, said company Chairman and CEO Andrew Dennen.
The company's 50,000-square-foot building, representing a $7.4 million investment, has been open for about 30 days.
"Our long-term plan is to support the metal stamping and subassembly needs of a variety of industries, from automotive, appliances, HVAC. ... just about any industry."
Dennen said the company is working toward its goal of having 50 employees. The firm sits on 15 acres and can expand to 100,000 square feet if needed," he said.
Contract Fabricators, located a few hundred yards down the road from Dennen Steel, was founded in Holly Springs in 1983.
The company, which makes large pressure vessels for oil refineries, power plants, chemical plants and other industries, employs 125 workers in Holly Springs. It expects to create 50 jobs in the next year in Iuka.
It invested more than $1 million in the former Dynasteel facility, which measures more than 97,000 square feet.
Contract Fabricators President Boyce Delashmit said the company has been looking for a site near water to ship some of its largest work, such as the 27-foot-diameter reactor vessel for Exxon it was working on during the ribbon-cutting ceremony.
"Most of our work is for refining or for power plants," he said. "We'll wind up finishing the vessel and roll it on a barge from here."
The companies received help through the Mississippi Development Authority via loans and grants to the city and county. The Appalachian Regional Commission and Tennessee Valley Authority also provided some assistance.
It's more than money that brought the companies here, said Gary Matthews, executive director of Tishomingo County Development Authority. He said the area's quality workforce is appealing.