Posts Tagged ‘Mississippi Development Authority’

ASA postmortem: industrial recruiting is a constant cycle of death and life

By JACK WEATHERLY  Raising $1.2 billion for an industrial project can be a daunting task, if not a deal killer. For economic developers in Mississippi, American Specialty Alloys’ protracted and secretive efforts in that regard became an issue that ultimately sent the project south to Pineville, La. American Specialty started out last year with a […] [...]

(UPDATE) Aluminum maker, recruiter still at impasse on $1.2 billion project

By JACK WEATHERLY  The impasse between American Specialty Alloys and Golden Triangle economic development officials has not eased. The startup aluminum maker with offices in Columbus that says it will build a $1.2 billion mill — somewhere — is “pulling up stakes” and heading for Alexandria, La., Joe Max Higgins, executive director of Golden Triangle […] [...]

Mississippi takes an incentives licking, keeps on ticking

By Jack Weatherly If the Pew Charitable Trusts gave Mississippi the stick in 2012, it seems to be trying the carrot this time. Mississippi economic development officials thought the respected independent nonprofit organization was harsh in its assessment of how the state was tracking its incentives. “It sounded like like they were unfairly indicting the […] [...]

Judge names receiver for KiOR plant, but tax payment unclear

JACKSON — A Lowndes County judge has appointed a receiver to watch over KiOR’s Columbus biofuel refinery, as owners and creditors seek a buyer. Chancery Judge Kenneth Burns on Monday named Derek Henderson, a Jackson lawyer who serves as a trustee in bankruptcy cases, as the receiver for the plant. The move came at the […] [...]

Chinese delegation coming to Tupelo Furniture Market

TUPELO — A delegation from China is visiting the Tupelo Furniture Market on Feb. 4-6 to learn more about furniture products made in the United States. Bill Martin, director of the Franklin Furniture Institute at Mississippi State University, says in a news release that China’s demand for American-made upholstered furniture has increased and consumers are […] [...]

MDA to lead trade mission to South Africa

JACKSON — The Mississippi Development Authority will lead a delegation of Mississippi companies on a business development mission to South Africa on March 23-27. MDA officials say in a news release that the trip will include stops in Johannesburg, Durban and Cape Town. MDA executive director Brent Christensen says South Africa is Mississippi’s top export […] [...]

Khosla seeks KiOR plant receiver, says Miss. ran off buyer

JACKSON — KiOR financier Vinod Khosla is asking a Mississippi state court judge to name a receiver for the company’s Columbus plant, at the same time that he’s accusing the state of scaring off a potential buyer for the shuttered biofuel refinery. Companies controlled by Khosla filed the motion Friday in Lowndes County Chancery Court, […] [...]

U.S. Treasury Department awards Mississippi more than $4.4 million in state small business credit initiative funds

The U.S. Treasury Department has awarded Mississippi more than $4.4 million in State Small Business Credit Initiative funds, which will be disbursed by the Mississippi Development Authority. The funds will assist the state’s small businesses with accessing the capital needed to grow and create jobs. To date, more than $13 million in SSBCI funds have […] [...]

KiOR says Miss. seeks to destroy it in court ploy

JACKSON — Bankrupt biofuel maker KiOR and controlling shareholder Vinod Khosla say the state of Mississippi is using legal tactics in an attempt to squeeze money from the company. KiOR, based in Pasadena, Texas, fired back Thursday at the Mississippi Development Authority’s December call to convert KiOR’s case from Chapter 11 reorganization into Chapter 7 […] [...]

Mississippi tries to force KiOR into liquidation

JACKSON — The state of Mississippi is trying to force biofuel maker KiOR into liquidation. The company filed for Chapter 11 reorganization last year, with plans for controlling shareholder and financier Vinod Khosla to buy what’s left of the company. But the Mississippi Development Authority says that’s an inappropriate attempt to dump debt while allowing […] [...]

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