Archive - Apr 26, 2013
House Bill One, which has been named the Gibbs-Turner Economic Development Act has passed both houses in the legislature, and it is now law.
Angela Turner spoke to the Senate body before the vote today, endorsing the bill.
"As you know, Clay County has taken a hit," Turner said. "We are excited about the project coming to town."
Turner says that this has been a team effort.
"This is a major project for the state," Turner said.
The bill passed with no opposition in the Senate at 12:36 p.m.
Representative Tyrone Ellis, who represents a portion of Clay County helped push a clean House Bill through moments ago after Rep. Steve Holland had added an amendment to the bill that would include incentives for Cooper Tire.
Holland's arguments are that should help existing industry, something MDA executive Brent Christensen has said many times.
However, Ellis raised the point that it was not known by MDA or the state what exactly Cooper Tire needs in terms of incentives.
The initial commitment agreed upon by the Yokohama Tire Corporation spells 500 jobs in Clay County by 2015.
Brent Christensen, Executive Director of the Mississippi Development Authority told lawmakers today that phase one is projected to be in operation by 2015.
Yokohama employs 17,000 people worldwide, and if all four phases of this project are done at Clay County's Prairie Belt Powersite, West Point could be the home of 2,000 more.
"These phases are going to be in operation in 2015, 2017, 2019 and 2023," Christensen said.
Some state lawmakers raised concerns about whether the usual benefits from new industry would be seen in West Point.
Mississippi Development Authority Executive Director Brent Christensen addressed those concerns during a question and answer session after he briefed Finance Committee members on the Yokohama Tire Company project set to land in West Point.
Christensen said that West Point and Clay County has already worked out how any taxes would flow throughout the county, prior to talk of a project.
Mississippi Development Authority Executive Director Brent Christensen spoke to the Senate Finance Committee moments ago regarding details ton the Yokohama Tire Corporation plant that is set to land in Clay County.
Christensen confirmed that the total package that is before legislators today is worth $130 million. $70 million is requested up front as an investment in the plant that includes a land purchase worth $9.5 million for 1,121 acres at Clay County's Prairie Belt Powersite.
West Point and Clay County have something to cheer about today.
State legislators are on the cusp of approving an incentives package that would bring a Yokohama Tire manufacturing facility to the county's megasite that was unveiled on October 31, 2012.
Golden Triangle Development LINK CEO Joe Max Higgins says that this project began shortly after the site was revealed to the public.
Sources with knowledge of a proposed industrial project in West Point have confirmed that Yokohama Rubber Company, a tire manufacturer from Japan, has chosen Clay County as a project site.
This morning, state legislators are filing into the Capitol Building in Jackson to vote on an incentives package so that the project may move forward.
Clay County beat out 3,000 counties in the Southeast, and the project is set to bring 500 jobs in the initial phase. The multi-phase project is said to possibly implicate as many as 2,000 jobs if the project is developed to its full potential.