Officials from Multicraft International, state and local leaders celebrated the grand opening of the company’s new division, Multicraft Ventures, LLC, in Pelahatchie. The project is a $2 million corporate investment and creates 50 jobs.
“The creation of Multicraft Ventures and 50 new jobs in Pelahatchie demonstrates Multicraft’s ongoing commitment to doing business in our state, while reinforcing the fact Mississippi is a place where companies can enjoy long-term growth and success,” Gov. Phil Bryant said.
Multicraft International is a Mississippi-based designer and manufacturer of automotive, outdoor power equipment, HVAC, industrial and consumer products.
“Multicraft International has been a world-class designer and manufacturer of sophisticated automotive electrical and electronic products in Mississippi since 1978. As we approach our fortieth year in business, we have taken advantage of dramatic changes in global business and technology to launch Multicraft Ventures,” said Multicraft International CEO Andrew Mallinson. “We aim to provide a private equity launch pad for new business development, and we feel our model is unique in Mississippi.”
“Ventures was formed to exploit new product opportunities in new markets and to create new business ventures in the state of Mississippi. A significant portion of our business model is built around taking our product development experience and attracting area entrepreneurs who have good product ideas but do not have the necessary resources for proof of concept, intellectual property protection, marketing, manufacturing, and more,” said Multicraft Ventures President and Shareholder Paul Jones. “The new division has the resources available for concept development, in-house prototyping, engineering design with full CAD ability, licensing and patenting, manufacturing design, testing, production facilities and capital access.”
The Mississippi Development Authority provided assistance for building renovations. The city of Pelahatchie and the Rankin County Board of Supervisors are providing assistance for the project, as well.
“For four decades, Multicraft has been a key industrial leader in Mississippi, achieving steady innovative growth while contributing to the quality of life in Rankin County. Pelahatchie is a logical location for Multicraft Ventures as the company launches this exciting new initiative, which will bring opportunity to the company, as well as to the community,” said MDA Executive Director Glenn McCullough, Jr. “MDA salutes the teamwork of the city of Pelahatchie, Rankin First and the Rankin County Board of Supervisors, which was instrumental in providing support for Multicraft Ventures.”
Multicraft International was founded in 1978 by Ford Motor Company, with its original facility next to Multicraft’s current location. The original facility, purchased and renovated by the city of Pelahatchie, now houses Multicraft Ventures.
