Mississippi Lawmakers Adopt Incentives Package

By  | 


Mississippi lawmakers Friday quickly approved an incentive package that could be worth more $330 million to bring a tire plant to Clay County.

House members voted 117-2 to pass the bill, while the Senate voted unanimously.

Japan's Yokohama Rubber Co. Ltd. would invest $300 million of its own money in the first phase, hiring 500 workers. In exchange, the state would borrow $70 million to buy land, build infrastructure and train workers.

Three additional phases could follow, bringing company investment to $1.2 billion and total jobs to 2,000. The state would borrow an additional $60 million to support those phases.

Other contributions would include $12 million from local governments.

Clay County's unemployment rate in March was 18.2 percent, highest in the state.

The company has declined comment on its plans.



 
Comments are posted from viewers like you and do not always reflect the views of this station. powered by Disqus