Lawmakers quickly approve economic incentives package

(MGN Online)
(MGN Online)
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Updated: 4/26/2013 1:26 pm
JACKSON, Miss. (AP) _ 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.
 



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