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Supervisors pre-close on $11 million bond

Reported by: Wayne Hereford
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Updated: 9/10/2013 8:42 pm
WEST POINT, Miss. (WTVA) -- Clay County leaders called it a "monumental day for the county" as the Board of Supervisors held a pre-closing for an $11 million industrial bond at the courthouse Tuesday.

County leaders say the money is needed to facilitate the infrastructure improvement for the Yokohoma Tire Plant that will be built there.

"We signed the paperwork where we could receive the $11 million dollar industrial development bond," said Circuit Clerk Amy Berry. "Well, this is the bond money that specifically is being issued and backed by the Mississippi Development Bank. The bond proceeds will go to help acquisition property, to build an elevated water storage tank, and cover professional fees that had to be done like engineering fees and survey fees." 

Berry said there are four phases to the project, and phase one will create 500 jobs.

A Japanese-based contractor has been awarded the contract.

"We're probably looking at 1,500 to 1,800 construction jobs just right off the bat. Hopefully, on the 23rd of this month, we'll have the ground breaking here in Clay County," said Fourth District Supervisor Shelton Deane.

Officials say construction on the Yokohoma plant is scheduled to begin at the end of this month.
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