State, county offering $76M in incentives to SiliCorr

LOWNDES COUNTY — The state of Mississippi is offering $60 million in incentives and Lowndes County is kicking another $16 million for infrastructure improvements to support an operation that will melt gravel into silicon for everything from cosmetics to cellphones and computer screens.

In return, the company, called SiliCorr, would invest $500 million in the plant and hire 950 workers. It would be located on 240 acres in the Lowndes County industrial park

County officials tell WCBI-TV in case the company doesn’t make it, the deal protects taxpayers.

The company is headed by John Correnti, who is no stranger to Northeast Mississippi. He was the driving force behind what is now Severstal Steel and the 600 jobs it brought to Lowndes County. He also promised a steel rebar mill that hasn’t materialized in Amory.

SiliCorr’s operation would melt gravel into silicon in phase one and a second phase would further purify the product.

“Well it’s like any other project, you know I’ve been doing this for 25 years, and until they stick a shovel in the ground, build the plant, hire the people, you know there’s always a chance a project might not happen and we feel pretty comfortable that phase one of the project is going to start about June,” Joe Higgins, CEO of the Columbus-Lowndes Development Link told the Lowndes County board of supervisors yesterday.

Lowndes County supervisors approved a memorandum of understanding and other agreements calling for as much as $16 million in site, road, railroad and utility improvements.

[RSS Feed] [del.icio.us]



To sign up for Mississippi Business Daily Updates, click here.

POST A COMMENT

 

Top Posts & Pages