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MDA, GreenTech finalizing incentive package

A Q&A with GreenTech president Terry McAuliffe that appeared over the weekend on the Washington Post‘s website has a lot of the same information that Magnolia Marketplace has reported since January.

The production of the company’s MyCar neighborhood electric vehicle will start in Horn Lake late this year, and the Tunica facility, where GTA hopes to build its midsize sedan and sport electric hybrid cars, is under construction. We’ve known that for a while now.

What stood out, though, is McAullife’s mention of an incentive package the company and the state are putting together. It’s notable because since the groundbreaking ceremony in Tunica nearly two years ago, the Mississippi Development Authority has sat back and waited for GreenTech to raise private capital.

That is no longer the case. MDA spokesperson Melissa Medley said Tuesday afternoon that the economic development agency and GreenTech are indeed applying the final touches to an incentive package, and hoped to have it finalized and a memorandum of understanding signed in the next few weeks. She did not release details, but it’s common sense to think that the numbers won’t be very big. Maybe they will. We’ll just have to wait and see.

To read the full Q&A with McAuliffe, click here.

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