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Tag Archives: Mississippi Development Authority

KiOR misses debt payment, Miss. doesn't foreclose

JACKSON — Biofuel maker KiOR has missed its deadline for a $1.8 million loan payment to the state of Mississippi at midnight Wednesday, but instead of legal action, what has immediately followed is waiting. The state has not moved to foreclose, and the Pasadena, Texas, company has not declared bankruptcy. The wait could mean a buyer is near for the ...

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Airport Authority says taxiway project makes military training safer

GULFPORT — The completion of the Gulfport-Biloxi International Airport Taxiway B widening project will make the military apron more accessible for larger aircraft, according to the Gulfport-Biloxi Regional Airport Authority. The $3-million project improves safety by strengthening and widening the taxiway pavement for enhanced military operations making the Gulfport Combat Readiness Training Center (CRTC) more competitive for increased military activities ...

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KiOR could owe state entire $69.4M debt plus interest

COLUMBUS — Mississippi has warned biofuel maker KiOR that it could demand immediate repayment of the company’s entire $69.4 million debt to the state, plus $8 million in interest, if the company doesn’t make its loan payment before a grace period runs out. Marlo Dorsey, a spokeswoman for the Mississippi Development Authority, said the state sent the letter yesterday. “Due ...

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Deadline passes and state receives no payment from KiOR

COLUMBUS — Mississippi officials say they didn’t get any money from faltering biofuel firm KiOR on Friday, the deadline for the company to make a $1.9 million debt payment. KiOR, based in Pasadena, Texas, has a grace period of three business days to make the payment, so it wouldn’t officially break its agreement until midnight Wednesday. A spokeswoman for KiOR ...

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Villa International sites RV furniture factory in Belmont

BELMONT — A California company will open a recreational vehicle furniture factory in northeast Mississippi, with plans to hire 75 employees over five years. Villa International, based in Cerritos, California, will invest $250,000 to expand into Tishomingo County. It will pay an average annual salary of $35,360. The Mississippi Development Authority will loan Tishomingo County $507,000 to purchase the former ...

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Mars Food expanding Delta plant; investing $31M and adding jobs

GREENVILLE — Mars Food, which makes Uncle Ben’s Rice and other products at its Greenville plant, will invest $31 million to modernize operations and expand research at the plant. The company plans to add 25 jobs to the current 226 full-time and 230 contract workers at the 35-year-old operation. New production workers are expected to make $31,000 a year, while ...

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Legislative Black Caucus pushing for more contracts to minorities

JACKSON — Mississippi government agencies needs to make a stronger effort to buy more goods and services from businesses owned by minorities and women, leaders of the Legislative Black Caucus say. “We allocate billions of dollars for tools and resources to lure large corporations to this state,” said Sen. Kenny Wayne Jones, D-Canton, the caucus chairman said this past week. ...

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MSU Extension named Intelligent Community Institute

STARKVILLE — A New York-based think tank has designated the Mississippi State University Extension Service an Intelligent Community Institute, the second of its kind in the country. The goal of the partnership between MSU and the Intelligent Community Forum is to help rural communities thrive in the digital economy. The Intelligent Community Forum examines best practices and researches the impact ...

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Texas company sites warehouse/plant in Southeast Mississippi

SUMMIT — A Houston oil-field services company is locating a new facility in Summit that will warehouse and eventually manufacture drilling fluids for oil drillers in the Tuscaloosa Marine Shale formation. Newpark Drilling Fluids officials say the project will create 40 new jobs. Tuscaloosa Marine Shale formation is located in southwest Mississippi and central Louisiana. The announcement was made yesterday ...

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