Hydraulic gear pump and motor manufacturer Geartek is expanding its operations in Corinth. The project is a $3.8 million investment that will create two new jobs.
“Mississippi’s economy is thriving thanks to our state’s business-friendly environment,” said Gov. Tate Reeves. “Every single one of these economic development projects, like the expansion of Geartek, are wins for communities all across Mississippi. With each new job comes new opportunities for growth and prosperity, and they have positive effects locally and statewide. I wish Geartek many more years of success in our great state.”
A division of Hydraulic Analysis, Inc., Geartek’s products are used in a variety of industries, including forestry, energy, site clearing and mining. The company has long-established local ties to Corinth and is expanding its existing manufacturing facility by approximately 8,500 square feet to accommodate new manufacturing equipment for added production capacity.
“MDA is proud to support this established business with strong ties to the Corinth community,” said Mississippi Development Authority Executive Director Bill Cork. “Not only does Geartek’s expansion highlight Mississippi’s remarkable reputation as a manufacturing center for quality products that benefit multiple industries, it also serves as a reminder that we are very much open for business and committed to maintaining a favorable business climate.”
The Mississippi Development Authority is providing assistance through the Mississippi Flexible Tax Incentive, or MFLEX, program. Additional support is being provided by Alcorn County and the city of Corinth.
“For over 40 years, Geartek has been a proud Mississippi manufacturer,” Geartek President Derrick Dunn said. “Our success is driven by our founders’ vision and our employees’ hard work. With the strong support of MDA, Alcorn County, the city of Corinth and The Alliance, we are excited to be able to expand our business and further grow in our community. We look forward to a bright future for our business and continued investment into our community for many years to come.”
The new jobs are expected to be filled once construction is complete.
