Ingalls gets tax break

PASCAGOULA, Miss. -- The city of Pascagoula passed a resolution this week waiving property tax for nine years on $18.8 million worth of machinery, equipment and furniture at Ingalls Shipbuilding. The exemption provides Ingalls with an annual savings of $111,637. The company told city councilmen it would help keep the yard viable in a competitive military shipbuilding environment. Total savings will be over $1.1 million. (Source: Mississippi Press, 06/21/12)