CLINTON, Miss. (AP) — An Associated Press analysis finds that the package of state aid and tax abatements to attract a $1.45 billion, 2,500-job Continental AG tire plant to Hinds County is worth approximately $600 million, and probably more.
The numbers continued to emerge Friday as four local government bodies approved their parts of the agreements negotiated with the German tire maker. Gov. Phil Bryant is set to welcome Continental officials in a Monday ceremony.
State officials told lawmakers Thursday that the state and Hinds County would borrow $263 million to pay for improvements to the 900-acre site just west of Clinton.
An analysis by a state economist and Associated Press calculations show other tax breaks and incentives are worth at least $383 million. Some tax breaks have no expiration date.
This story has been corrected to show state aid and tax abatement package is worth about $600 million instead of $650 million.