Company doesn’t use $1.1M in economic development incentives
Published: February 19,2013
NATCHEZ — Economic development authorities were able to secure $1.1 million in grants and rail loans as part of a package to entice Genesis Energy to locate its new loading and unloading terminal in Natchez last year, but in the end that money wasn’t needed.
Genesis opened its terminal in the port earlier this year.
The Genesis terminal is located at the former Tessenderlo-Davison Chemical location, which Genesis already owned. To be able to move the oil products through the port, the property needed upgrades, and the county secured a $400,000 community development block grant and a $700,000 rail loan from the Mississippi Development Authority to finance the needed construction.
When it came time for Genesis to start work at the site, The Natchez Democrat reports the funds weren’t utilized.
To sign up for Mississippi Business Daily Updates, click here.
Top Posts & Pages
- Longtime Biloxi mayor Holloway resigns
- Proposed ammo ban empties shelves
- DAVID DALLAS: Tax slasher productions comes to Mississippi
- (UPDATED — BREAKING NEWS) American Specialty Alloys won’t locate $1.2B mill in Mississippi
- Nehi Bottling Company has been a Cleveland fixture for 85 years
- Status of some bills in the Mississippi Legislature
- ASA postmortem: industrial recruiting is a constant cycle of death and life
- Hattiesburg wastewater treatment system could cost $152M
- Events and Nominations