EMEPA Head Talks Industry Prospects

East Mississippi Electric Power Association officials say they expect the announcement of two new industries in the area in the next month.

General manager Wayne Henson talked about the projects in a meeting with the media. He says he can't identify the companies yet.

Henson also said the now-bankrupt Handy Hardware had taken advantage of a $740,000 loan through EMEPA's Rural Economic Development loan program, that is secured by a bank letter of credit.

"When we offer that as an incentive for a company that's coming into the area, we insist upon that full securitization, so that there is no loss to our members," said Henson. "And we've been able to do that in everyone of the loan packages that we've put together."

Henson says after Handy Hardware's bankruptcy, EMEPA was reimbursed for the total loan amount by Capital One Bank.

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