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Tag Archives: stimulus

Stocks rally after Fed allays stimulus fears

NEW YORK — Stocks broke through record highs in early trading Thursday after Federal Reserve Chairman Ben Bernanke said the central bank is in no hurry to stop supporting the economy. Bernanke said the U.S. economy still needed help because unemployment remains high and inflation is below the Fed’s target. The Fed is currently buying $85 billion a month in bonds ...

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Twin Creeks Technologies goes under, owes Mississippi $26 million

In Nov. of 2011 the Mississippi Business Journal reported Twin Creeks Technologies’ new 88,000-square-foot factory, funded with $26 million in state dollars, sat in Senatobia with very little going on. Twin Creeks spokesperson Tarpan Dixit said, at the time, the plant was not in commercial production but in “validation mode” and waiting for certification — but that was not the message ...

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Timber Products expanding its operations in Corinth

CORINTH — Timber Products Company, manufacturer of various wood products, is expanding operations at its hardwood plywood facility in Corinth by adding a clear ultraviolet plywood finishing process at the plant. The project represents a company investment of $350,000 and will create up to four new jobs and help retain the company’s 50 current employees, according to the Mississippi Development ...

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Could Mississippi's Twin Creeks go the way of Solyndra?

Obama and Barbour have bet on green energy winners and losers Since its declaration of bankruptcy and subsequent FBI raid in early September, solar manufacturing company Solyndra has stayed in the national news, and President Obama has come under fire from Republicans with allegations of crony capitalism. This month the White House refused to provide documents regarding communications with Solyndra ...

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State's stimulus-funded jobs program 'STEPS' returns

JACKSON — The jobs program Mississippi STEPS: Subsidized Transitional Employment Program and Services, restarted yesterday and will run through Dec. 10. Employers who want to participate in STEPS 2 must enroll by Sept. 30 in order to take advantage of the full benefits of the program. This program, known as STEPS 2, will aid small businesses in meeting their workforce ...

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Peoples Bank earns national attention for SBA lending

MENDENHALL — It took an independent community bank to earn the State of Mississippi’s first honor as a National Lender of the Year as named by the U.S. Small Business Administration (SBA). Mendenhall-based Peoples Bank has been selected by the SBA to receive the Small 7(a) Lender award. This national award is presented to lenders that have used SBA loan ...

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State SBA office reports yet another lending record

JACKSON — Although only half through its fiscal year, the Mississippi U. S. Small Business Administration has already set a new lending record. On March 31, 460 loans were approved totaling $198,448,900. “That’s far more than the $123,422,551 small businesses received from Oct. 1, 2009 to March 31, 2010,” said Janita R. Stewart, SBA’s Mississippi District director. “It also eclipses ...

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Lawmakers want Barbour to divulge stimulus spending

JACKSON — Several lawmakers say it’s been difficult to get information from Republican Gov. Haley Barbour on how he’s spending nearly $50 million in federal stimulus money he’s allowed to use at his own discretion. Barbour’s office didn’t release details about this year’s allocation of his discretionary fund to The Associated Press until AP filed a request through Mississippi public ...

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Johnson Construction lands stimulus-funded contract

BRANDON — Johnson Construction has been awarded a contract by the State of Mississippi to oversee energy upgrades to various state-owned facilities throughout Mississippi. Terms were not disclosed. Through funding received from the American Recovery and Reinvestment Act, Mississippi will be making various improvements to state-owned facilities in an effort to better monitor energy consumption and further their efforts of ...

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SBA lending in state sets another record

JACKSON — The U.S. Small Business Administration has guaranteed 324 loans for Mississippi small businesses totaling approximately $153.139 million during the first three months of fiscal year 2011. This represents a 60 percent increase in the number of loans approved and a 186 percent increase in loan dollars approved compared to the first quarter of fiscal year 2010, which had ...

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