The Mississippi legislature has approved $68 million in additional state incentives to support an expansion of Nissan North America Inc.'s truck project there.
The package, approved in a special legislative session late Friday afternoon, is expected to support an unannounced plan by Nissan to spend another $500 million on its Canton, Miss., plant, which will launch in May 2003.
According to sources familiar with the plan, Nissan will increase the project scope by 125,000 vehicles a year. Nissan has already committed $930 million to build a pickup, SUV and minivan plant in Canton, with an annual capacity of 250,000 vehicles a year.
The expected plan would boost the capacity to 375,000 vehicles a year and require Nissan to hire 5,300 workers, instead of the 4,000 under the earlier plan.
It was not clear what other products, if any, or in what volume Nissan might add to Canton.
Speaking at Nissan's annual shareholders meeting in Tokyo on Thursday, June 20, Chairman Yoshikazu Hanawa first revealed Nissan's interest in the expansion.