The newly-formed Yokohama Tire Manufacturing Mississippi (YTMM), a manufacturing subsidiary of Yokohama Tire Corporation, officially broke ground on its new commercial truck tire manufacturing plant in West Point, Miss., which is slated to begin operations in October 2015.

The event was attended by President and Representative Director of The Yokohama Rubber Co., Ltd., Hikomitsu Noji, Yokohama executives, Mississippi Gov. Phil Bryant, numerous state officials and more than 350 guests.

Yokohama is making an initial $300-million investment in the facility with approximately 500 jobs expected to be created at first phase. The roughly 1-million-square-foot factory, to be constructed on more than 500 acres of land, will include production, warehousing and operations facilities, and will produce up to 1million tires annually, according to the company.