Lawmakers Mull Incentives for Tire Maker

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Mississippi lawmakers are meeting in special session Friday to consider incentives to bring a Japanese tire manufacturer to Clay County.

Yokohama Tire Corp. would make industrial tires for trucks and tractors.

In a House committee meeting Friday, lawmakers were told the state would borrow $70 million to buy land, build infrastructure and train workers.

The first phase would involve a $300 million company investment and at least 500 jobs. There could eventually be four phases with a company investment of $1.2 billion.

Other contributions would be $12 million from local governments, $1 million from the Appalachian Regional Commission, $900,000 from the Tennessee Valley Authority and $590,000 from Atmos Energy.

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