A new aluminum recycling and manufacturing facility is being built in Mission, marking the largest private sector investment in the city's history.

Zerluma, an aluminum recycling and manufacturing company, broke ground on a 98,000-square-foot facility near the Mission hike and bike trails on Tuesday. The $50 million private investment is expected to create about 70 permanent jobs and 250 to 300 construction jobs over the next two to three years.

The Mission Economic Development Corporation projects the facility will pump $120 million into the local economy.

The construction timeline depends partly on specialized equipment being built overseas before installation.

The company reportedly plans to prioritize hiring local workers. Mission EDC CEO Teclo Garcia said the city will eventually discuss a tax break and other incentives, including hiring incentives for Mission residents.

"The new 98,000-square-foot manufacturing facility represents a transformative milestone for Mission's economic future, bringing significant capital investment, creating quality, high-paying jobs, and further positioning the city as a premier destination for advanced manufacturing," Mission EDC said in a statement.