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.
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