Leaders looking for new business at ex-Rentech site to avoid tax hit
Published: July 29,2013
NATCHEZ — Economic development leaders in Adams County hope an anticipated loss of $135,000 in property taxes from the former Rentech site will be offset by attracting new industry.
The Natchez Democrat reports the county’s acquisition of the property is expected to close Aug. 12.
Adams County is borrowing $9 million to buy the former International Paper property from Rentech. The property covers 478 acres.
The IP mill was once home to the area’s biggest employer but was shuttered in 2003.
Rentech purchased the property in 2008 with plans to build a coal-to-liquids fuel plant on the site. Rentech announced late last year that it had scrapped its plans and put the site up for sale in March.
Rentech says it had annual expenses related to the site of $800,000.
To sign up for Mississippi Business Daily Updates, click here.
Top Posts & Pages
- Spivey named Under 40 Business Person of the Year by the Mississippi Business Journal
- JACK WEATHERLY: Finding a house, defending a neighborhood, finding a voice
- Top 40 Under 40
- Bids on reworking Interstate 55 stretch are rejected
- Terminal upgrade on indefinite hold at Jackson International Airport
- JACK WEATHERLY: Economic development in these parts is a ‘family’ business
- CFPB wants repay ability at center of new payday loan rules
- MDA to close all its regional offices
- Top 40 Under 40 (digital magazine)