Japanese manufacturer Mitsubishi is negotiating with city leaders and the Greater Memphis Chamber of Commerce to locate a $200 million manufacturing plant at the Rivergate Industrial Port owned by Belz Enterprises.
Two sources said an announcement that Mitsubishi will come to Memphis is expected in February. Negotiators have used the code name "Project 21" to refer to the business. Other details, such as what the company would produce, have been kept secret.
Fresh off the announcement in December that the city and chamber had recruited an Electrolux manufacturing facility to Frank C. Pidgeon Industrial Park, Mayor AC Wharton recently confirmed that another major project was in the works that could bring hundreds of jobs and millions in capital investment to Memphis.