Lawmakers in a closed “reception” on Thursday night were briefed on “Project Triathlon,” Gov. Phil Bryant’s efforts to land a $1.2 billion Japanese tire manufacturing plant near West Point, Miss.
Lawmakers were not given the name of the company Thursday night, but were told the company would create 500 jobs initially, up to 2,000 jobs over four “phases” of planned expansion.
In a special session on Friday, lawmakers said, they’ll be asked to approve a total bond package of $130 million — $70 million for the company’s first phase of construction, with $60 million authorized for expansions. The company wants the state to purchase land for $9.5 million, spend $48 million on infrastructure, and build a training center for $11.75 million. It also wants a 25-year exemption on income taxes, with a “fee in lieu.” State officials told lawmakers the 20-year payback to the state would be $1.1 billion.