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Tag Archives: Mississippi Development Authority

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 model we were using,” senior ...

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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 request of KiOR financier Vinod ...

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Von Drehle locates paper machine facility in Natchez.

NATCHEZ — Von Drehle, a paper products supplier, has broken ground on a paper machine facility in Natchez. The groundbreaking was held Monday. Von Drehle acquired the former Mississippi River Pulp facility in 2013. The project represents an estimated $100 million incorporate investment and will create at least 100 jobs with the potential to increase to 150 when completed. Von ...

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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 asking Chinese retailers for more. ...

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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 location in Africa. He says ...

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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, another escalation in a fight ...

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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 been allotted to MDA to ...

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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 liquidation. “The motion reflects a ...

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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 the original owners to keep ...

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MDA’s Christensen forecasts economic growth momentum continuing in 2015

Mississippi Development Authority Executive Director Brent Christensen foresees 2015 being a year when the state builds upon the strengthening economic activity of both the state and the nation in the past year. “As the national economy continues to rebound and strengthen, that momentum will continue to carry over,” Christensen said. “Companies are increasingly seeking new locations to expand as a ...

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