Legislators discussing bonds for Nissan or supplier
Published: March 27,2013
CANTON —-Mississippi lawmakers are considering giving a Madison County development agency $100 million in bonding capacity that would be used to construct buildings for Nissan Motor Co. or a supplier of the automaker.
The Madison County Economic Development Authority would issue the taxable industrial development bonds, which the occupant would repay. Officials say that creditors would not be able to seek repayment from the agency, only from the company.
Sen. Will Longwitz, a Madison Republican, says the project would create “hundreds and hundreds” of jobs.
A spokesman for Nissan could not immediately be reached for comment.
Nissan and contractors employ about 5,200 people at its Canton, Miss., complex, which opened nearly 10 years ago. By the end of 2014, the company plans to make eight different vehicles there.
To sign up for Mississippi Business Daily Updates, click here.
Twang & Tourism: The Country Music Trail
FOLLOW THE MBJ ON TWITTERMy Tweets
Top Posts & Pages
- DAVID DALLAS: Mr. McDaniel goes to Washington
- Judge to hear from True the Vote as McDaniel attempts to overturn loss to Cochran
- Weyerhaeuser investing $57M to modernize lumber mill
- Moon River Foods creating 100 jobs in Mississippi Delta
- Google chooses Mad Genius as example of Internet use
- Two BancorpSouth mergers delayed by federal inquiries
- Health officials identify another case of chikungunya virus
- Biloxi council approves $29M contract for baseball stadium construction
- Three indicted, alleged to have embezzled from agency
- Under state probe, All American Check Cashing gets ‘F’ rating from Better Business Bureau