The Latest: House approves aid to tire plant, shipyard

JACKSON, Miss. (AP) — The Latest on Mississippi's efforts to recruit a tire plant to western Hinds County and a shipyard to Gulfport (all times local): 10:19 a.m. The Mississippi House of Representatives has passed an incentive bill for a Hinds County tire plant and a Gulfport shipyard by a wide...

JACKSON, Miss. (AP) — The Latest on Mississippi's efforts to recruit a tire plant to western Hinds County and a shipyard to Gulfport (all times local):

10:19 a.m.

The Mississippi House of Representatives has passed an incentive bill for a Hinds County tire plant and a Gulfport shipyard by a wide margin. The bill goes to the Senate.

Only three House members voted against the measure, which came up for consideration less than two hours after a special session began Thursday. It which would grant hundreds of millions worth of incentives to the companies.

The tire plant would cost $1.45 billion and eventually hire 2,500 workers. The Clarion-Ledger has reported the plant would be built by German firm Continental AG, but the company won't confirm that. Mississippi would borrow $263 million, plus grant property, income and franchise tax breaks worth much more.

Edison Chouest (SHWEST) Offshore plans to invest $68 million in the Topship shipyard and eventually hire 1,000 workers. Mississippi would borrow $11 million for Topship.

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9:30 a.m.

Members of the House Ways and Means Committee have unanimously approved a bill for Mississippi to grant hundreds of millions worth of incentives to bring a tire plant to western Hinds County and a shipyard to Gulfport.

The committee voted Thursday morning, after a special session began.

The tire plant would cost $1.45 billion and eventually hire 2,500 workers. The Clarion-Ledger has reported the plant would be built by German firm Continental AG, but the company won't confirm that. Ways and Means members do confirm the company is German-based. Mississippi would borrow $263 million, plus grant property, income and franchise tax breaks worth much more.

Edison Chouest (SHWEST) Offshore plans to invest $68 million in the Topship shipyard and eventually hire 1,000 workers. Mississippi would borrow $11 million for Topship.

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8:39 a.m.

Mississippi lawmakers are considering incentives for a tire plant in western Hinds County and a shipyard in Gulfport.

Gov. Phil Bryant set Thursday's special session, saying the combined deals would create 3,500 jobs.

Of those, 2,500 jobs are projected at a $1.45 billion tire plant. The Clarion-Ledger reports German company Continental AG will build the tire plant, although Continental says reports are "speculation at this point."

The Topship shipyard, part of Louisiana-based Edison Chouest (SHWEST) Offshore, is supposed to hire another 1,000 workers, investing less than $100 million.

State officials plan a number of incentives, financing some by borrowing about $275 million. Sen. John Horhn, a Jackson Democrat, says Hinds County would also contribute to the tire plant.

The incentives were filed in a 196-page bill (http://bit.ly/1SKvVAd ).

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