Little Rock (Italy), Jul 30 (AP) An Italian-based company announced Thursday it's opening a USD 15 million ammunition factory in Little Rock.

Fiocchi of America, the United States subsidiary of the Italian-based Fiocchi Group, announced that it will hire 57 additional workers for its new manufacturing plant in southwest Little Rock.

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The company already employs 28 people at the plant, which manufactures some ammunition components.

The new plant will primarily manufacture centerfire ammunition, Fiocchi President Anthony Acitelli said.

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“These are good-paying jobs that will make a difference in our community, and most importantly, I hope that this is a partnership that will lead to future growth down the road," Gov. Asa Hutchinson said at a news conference announcing the plant.

The Arkansas Economic Development Commission said the company will receive five years of cash rebates worth USD 579,186, based on the annual payroll for new employees.

It will also receive USD 82,407 worth of tax refunds for the project. (AP)

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)