BATESVILLE — The Panola County Board of Supervisors has approved a 10-year tax exemption for machinery and equipment and a separate tax exemption for inventory for GE Aviation.
The three-year-old GE Aviation plant in Batesville is set to employ 500 workers by 2013.
Officials tell The Panolian that the tax exemptions will save GE Aviation about $289,800 annually.
Bill Bryant, a tax consultant for Panola County, says the tax exemptions do not include tax payments to South Panola public schools, which are $213,900 annually.
The Batesville plant is presently expanding its 300,000-square-foot building located along Mississippi 6 East.
The plant makes composite components for the GEnx jet engine, which will power Boeing’s new 787 and 747-8 aircraft.
Source: The Panolian