Legislators discussing bonds for Nissan or supplier
by Associated Press
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.
Top Posts & Pages
- New boutique hotel to replace Oxford’s Downtown Inn
- Coast city to repay BP grant funding for Ocean Expo
- Eye clinic operator faces Medicaid fraud charges
- Mega-load move could cause traffic issues
- New owners plan cautious change for Highland Village
- NEW ORLEANS SAINTS MOVING — Mississippi company has the task of moving the football team
- Judge to weigh Hood's credit card issuer lawsuit
- Blue Origin successfully tests BE-3 rocket engine
- Allain to lie in repose at Capital Friday; funeral Saturday in Natchez
- Northrop Grumman begins production of five NATO drones