Toyota says they’ll start paying Miss.’s interest in April

Some Mississippi legislators are becoming impatient about the interest payments Toyota Motor Corp. is expected to make on money the state borrowed to bring a $1 billion car plant in Blue Springs.

State Treasurer Tate Reeves told lawmakers during a fiscal briefing at the Capitol on Thursday that discussions are ongoing about when the automaker would begin making payments. So far, he said, the state has paid about $16.7 million in interest.

Barbara McDaniel, spokeswoman for external affairs manager for Toyota Motor Engineering & Manufacturing North America, said the company had agreed to begin paying interest on the loans in April.

AP
1/15/10