Posts Tagged ‘incentive’

Manufacturer expanding plant, adding new jobs

PELAHATCHIE — Multicraft International, manufacturer and supplier of automotive components for domestic automakers, is expanding its operations in Pelahatchie to accommodate an increase in production. The project represents a company investment of $250,000 and will create 30 new jobs, according to the Mississippi Development Authority (MDA). “Multicraft is experiencing significant growth as U.S. manufacturing, particularly […] [...]

Firm that owes state millions files for bankruptcy

MERIDIAN — A Texas company that Mississippi officials say owes the state $3.5 million has filed for bankruptcy, complicating collection efforts. Handy Hardware, a hardware wholesale cooperative, announced in November it was closing its two-year-old Meridian warehouse. By then, the Houston company had missed an October interest payment to Capital One Financial Corp. and defaulted […] [...]

SoS reports steady growth in new businesses

JACKSON — The number of new businesses forming in Mississippi shows an upward trend of steady growth, according to a report from the Secretary of State’s Office. “As we move past this economic recession, more and more businesses want to set up shop in Mississippi, and the numbers show it,” Secretary of State Delbert Hosemann. […] [...]

City officials offer tax breaks to two companies

SOUTHAVEN — Southaven has approved 10-year tax exemptions for two companies that will bring jobs to the city. The Commercial Appeal reports EXCEL and Creedence Holdings, doing business in the city as West Coast Novelty, received unanimous approval from the seven-member Board of Aldermen. Mayor Greg Davis said EXCEL would bring 127 jobs to the […] [...]

Company doesn’t use $1.1M in economic development incentives

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. […] [...]

Mall developers just Bryant’s signature away from tax break

PEARL — The Mississippi House has given final approval to a bill that would provide sales tax rebates to the developer of an $80-million outlet mall scheduled to open in November in Pearl. Senate Bill 2806 passed the House 93-22 and heads to Republican Gov. Phil Bryant. It passed the Senate earlier. The bill would […] [...]

Mall could qualify for tax incentive funds via ‘cultural retailing’

PEARL — The state Senate has passed a bill to add “cultural retail” attractions to the definition of a tourism project so an outlet mall being built in Pearl will qualify for about $22 million in sales tax incentive funds. State Sen. Dean Kirby, R-Pearl, tells The Clarion-Ledger the state will get a lot more […] [...]

State reaches settlement with failed Twin Creeks

SENATOBIA — The state of Mississippi settled a lawsuit Tuesday with Twin Creeks, a California solar panel company that went out of business after the state spent $27.7 million to construct a building for the business in Senatobia and buy equipment, The Associated Press has learned. “I believe we will make a full recovery of […] [...]

Silicor misses another incentive deadline with county

COLUMBUS — Solar silicon maker Silicor Materials has missed another deadline. The company failed to put up $150,000 in escrow money to show good faith and seal a deal that would have meant hundreds of new jobs to Lowndes County. The Lowndes County Board of Supervisors in December agreed to extend the start date for […] [...]

Finger-pointing begins in Va. over GreenTech project

HORN LAKE and TUNICA — An electric car firm headed by Virginia Democratic gubernatorial candidate Terry McAuliffe never provided Virginia officials enough details to obtain economic development incentives, according to an Associated Press review of state records. McAuliffe claimed in a Dec. 5 news conference that the Virginia Economic Development Partnership didn’t want to bid […] [...]

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