MUSCLE SHOALS, Ala. (WAFF) - A new company coming to the Shoals will produce 279 jobs.
The only thing officials will confirm right now is that it’s a new Tier 1 auto supplier.
The Shoals Industrial Development Committee sealed the deal.
This new auto supplier will be moving into Shoals Research Airpark.
The name of the supplier hasn’t been named. Right now they are just calling this “Project Tango.”
This new company will be moving into a spec factory currently owned by the Shoals Economic Development Authority.
SEDA is investing $11.5 million to expand that factory.
The company is also going to invest about $64 million in the factory.
SEDA President Kevin Jackson says they have been working on the project for a little over a year.
Jackson says this project has been a community effort and that the company will lease the building for 12 years. He also says they are excited to invest in this project in order to help the community grow.
“It just gives our people another option. I know we have some people that do drive outside of the area so this could be one more thing for them to stay home and have more time with their family and spend their money here. But for those highly skilled positions I think they’ll be very competitive and we just want to give all our citizens as many options as we can,” Jackson said.
Jackson says the company is set to start producing its product by April 1.
We'll update you when we learn the name of the company.