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
- MSU reminding fans that drones are prohibited at football games
- Former DPS employees sentenced for selling bogus driver's licenses
- Politics of paying for transportation: Hand wringing and a lot of talk
- Researchers: Trapping, not hunting, best way to control wild hogs
- DeSoto County Supervisor Lee dies in ATV accident on his birthday
- Research on dogs could lead to better understanding of human cancer
- Keesler Medical Center set to begin $74M renovation project
- ONE MORE YEAR: Leaders want year more of study on comprehensive road, bridge upkeep
- Community college dedicating new welding technology center