Posts Tagged ‘Mississippi Development Authority’

KiOR: Money will run out next of money month, bankruptcy possible

COLUMBUS — Struggling biofuel firm KiOR says in a financial filing that it will run out of money by September and that bankruptcy could follow. The company, which built a refinery in Columbus to turn wood chips into synthetic oil, owes Mississippi $69.4 million. The Mississippi Development Authority has agreed to delay payments until the […] [...]

Philips Lighting expanding, adding 50 new jobs

TUPELO — Philips Lighting Co. will add 50 new jobs in a $2 million expansion of operations at its facility in Tupelo. The company says in a news release that it is expanding its product lines to include incorporating LED technology made at the company’s San Jose, California, facility into the Tupelo facility’s production line-up. […] [...]

Great River Industries moving headquarters to Natchez

NATCHEZ — Great River Industries, formerly known as Enersteel, is expanding its operations in Natchez by locating its corporate headquarters there and adding 12,000 square feet of manufacturing space. The project represents a corporate investment of $4 million and will create 25 new jobs. Additionally, the company will retain the facility’s existing 150 employees. Great […] [...]

McCarthy hired as CFO of Mississippi Development Authority

JACKSON — Mississippi’s lead economic development agency has hired a new chief financial officer. The Mississippi Development Authority said Jay McCarthy will begin work on Aug. 1. McCarthy comes to his new post with nearly 30 years of experience in finance, banking and economic development. McCarthy is returning to the agency after serving for five […] [...]

Moon River Foods creating 100 jobs in Mississippi Delta

JACKSON, Mississippi — Gov. Phil Bryant and officials from Moon River Foods announced today the company is locating a new fish processing operation in Baird, Miss., in Sunflower County. The project represents a corporate investment of $3 million and will create 100 new jobs. Working with contract fishermen licensed by the Mississippi Department of Wildlife, […] [...]

Medical transportation company opening operation/call center

JACKSON — A Missouri company is opening a location in Mississippi to provide non-emergency medical transportation. MTM Inc. plans a transportation operation and call center in a north Jackson office building that will hire 80 people. The company is investing $400,000. The Mississippi Development Authority contributed $50,000 for building upgrades, as well as workforce training. […] [...]

Two more malls approved for tax money to expand

FLOWOOD and RIDGELAND — Mississippi taxpayers could help pay for two more malls that squeezed in approvals before a law allowing sales tax subsidies expired June 30 The Mississippi Development Authority approved applications in June for $29.6 million in tax money to expand Renaissance at Colony Park in Ridgeland and $48.8 million to build Pinelands […] [...]

KiOR retains investment bank to explore sale or restructuring

COLUMBUS — Struggling biofuel maker KiOR, deeply in debt to the state of Mississippi and others, says it has hired an investment bank to try to sell or restructure the company. KiOR, based in Pasadena, Texas, announced it had hired Guggenheim Partners in a yesterday stock filing. KiOR’s cash level is unclear, but the company […] [...]

Judge rules against MDA’s regulations on offshore leases

GULF OF MEXICO — A Hinds County judge says the state must write a better economic impact statement on proposed offshore natural gas and oil exploration in parts of the Mississippi Sound before it can enact rules to lease areas that could be drilled. “A cursory reading of the EIS finds that it is severely […] [...]

Biofuel manufacturer KiOR begins layoffs at Columbus plant

COLUMBUS — Biofuel maker KiOR is laying off employees as it idles its Mississippi refinery, intensifying questions about the future of the cash-strapped company. The company said yesterday that it has cut 18 employees. KiOR, based in Pasadena, Texas, said 55 employees remain at the Columbus plant. “Given the company’s limited cash flow, we do […] [...]

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