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.
FOLLOW THE MBJ ON TWITTERMy Tweets
Top Posts & Pages
- DAVID DALLAS: You say “Obama”, I say “Ebola”
- Judge gets more time to fight efforts to remove him from office
- Voters to decide whether hunting, fishing is constitutional right
- MARTIN WILLOUGHBY: Andrew Adams helps grow Addicus
- Coast cleanup nets 1,600 bags of trash — and a watermelon patch
- State's bad bridges continue to raise concerns among officials
- Epidemiologist: State's hospitals can identify, isolate Ebola cases
- Number of visitors to Natchez Trace makes big jump
- MISSISSIPPI RISING: Time to sell the image
- C Spire wins national award, cash prize for marketing analytics