Mississippi Lawmakers Adopt Incentives Package

By: The Associated Press
By: The Associated Press


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.


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