JACKSON, Miss. (Feb. 4, 2016) — Continental A.G. is confirming that it intends to build a commercial vehicle tire plant in Mississippi, where the state legislature earlier today approved an economic incentives package valued at more than $275 million.

Conti declined further comment until Feb. 8, when it expects to make an official statement.

According to various media reports, the tire plant project would entail an investment of up to $1.45 billion and eventually provide jobs for 2,500 workers.