PASCAGOULA, Mississippi - VT Halter Marine's multimillion-dollar ship repair facility, which Gov. Phil Bryant helped break ground on today, will "enhance the thriving shipbuilding industry in Jackson County," county Supervisor John McKay said.
Bryant, who was the ceremony's keynote speaker, said the expansion at the company's Bayou Casotte shipyard will create 400 new jobs.
"Our ship has come in," he said to a crowd of about 100. "That's 400 new families that will have a great opportunity. Their lives will be changed."
Between the company's 3 Jackson County shipyards, VT Halter employs about 2,000 workers.
"That's the size of a Toyota plant," Bryant said, noting it's important for the state to show continued support of existing businesses.
VT Halter CEO Bill Skinner said the facility is expected to be fully operational by March 2014.
Just as the shipyards have a rich history of building a variety of vessels -- from patrol craft to container ships to oil carriers -- the repair facility will service all of those ships, he said.
The company has planned on developing the 25- to 30-acre repair facility for years, Skinner said, as a way to diversify its offerings and increase its customer base.
The facility should also help steady the company's employment level, as workers can be used in different capacities as the shipbuilding business experiences its typical peaks and valleys.
The total cost of the project has not been nailed down yet, Skinner said, but it is expected to go to bid within the next 3 months.
The Mississippi Development Authority has put up $20 million in Hurricane Katrina-related Community Development Block Grant funds, and the company will contribute millions more.
That $20 million is well worth the job creation and competitive edge it will help give the shipyard, the governor said, and it's "a small portion of what VT Halter Marine will invest."