Skip to content
NOWCAST 16 WAPT News at 10
Watch on Demand
Advertisement

Mississippi lawmakers adopt incentives for manufacturer

Struggling Clay County looks to new plant for jobs

Advertisement
Mississippi lawmakers adopt incentives for manufacturer
Struggling Clay County looks to new plant for jobs
Mississippi lawmakers Friday quickly approved an incentive package that could be worth more $330 million to bring a tire plant to Clay County.House members voted 117-2 to pass the bill, while the Senate voted unanimously.Japan's Yokohama Rubber Co. Ltd. would invest $300 million of its own money in the first phase, hiring 500 workers. In exchange, the state would borrow $70 million to buy land, build infrastructure and train workers.Three additional phases could follow, bringing company investment to $1.2 billion and total jobs to 2,000. The state would borrow an additional $60 million to support those phases.Other contributions would include $12 million from local governments.Clay County's unemployment rate in March was 18.2 percent, highest in the state.The company has declined comment on its plans

Mississippi lawmakers Friday quickly approved an incentive package that could be worth more $330 million to bring a tire plant to Clay County.

House members voted 117-2 to pass the bill, while the Senate voted unanimously.

Japan's Yokohama Rubber Co. Ltd. would invest $300 million of its own money in the first phase, hiring 500 workers. In exchange, the state would borrow $70 million to buy land, build infrastructure and train workers.

Advertisement
WAPT-TV

Three additional phases could follow, bringing company investment to $1.2 billion and total jobs to 2,000. The state would borrow an additional $60 million to support those phases.

Other contributions would include $12 million from local governments.

Clay County's unemployment rate in March was 18.2 percent, highest in the state.

The company has declined comment on its plans