Combo incentive includes shipyard

The Mississippi Legislature has agreed to borrow $274 million, and provide millions in tax breaks, to land a tire plant in Hinds County and a shipyard in Gulfport. Continental Tire plans to build a five million-square-foot plant beginning in 2018 and eventually employ 3,500. The TopShip shipyard, on the Industrial Seaway in Gulfport, is part of the state port’s planned “inland port” expansion. Topship makes service and supply vessels for offshore oil and gas exploration rigs. The company plans to complete construction by 2018 and eventually producing 1,000 jobs. Gov. Bryant called the “combo” projects the biggest single day in economic development in history. The state will borrow $263 million for the tire plant and help with site acquisition and prep work. Hinds County will pay off $20 million of the debt. The state will borrow $11 million for the Gulfport project to help with infrastructure coupled with $25 million in federal port money. (Source: Clarion-Ledger 02/05/16)