Nissan expansion will mean new jobs - MSNewsNow.com - Jackson, MS

Nissan expansion will mean new jobs

Tax payers would be under no obligation to repay the bonds. Tax payers would be under no obligation to repay the bonds.
Nissan would pay back the bonds through leasing the buildings. Nissan would pay back the bonds through leasing the buildings.
MADISON COUNTY, MS (Mississippi News Now) -

Nissan wants to expand the Canton plant, and some lawmakers are supporting a bond measure to fund it.

Senator Will Longwitz of Madison says the expansion would include the construction of three large buildings for suppliers.

He says a bill to fund the expansion through $100 million in revenue-only bonds passed through the Senate Finance Committee Tuesday afternoon. Tax payers would be under no obligation to repay the bonds.

"These things just take a little time to put together, but I am confident that by the time, the house finishes with it we will have a great project, that the taxpayers are not on the hook for" said Longwitz. "The money, as I understand it, it's still being negotiated, but the idea is to build three gigantic buildings, that will be used to house suppliers, for this expansion of two lines at Nissan."

The Madison County Economic Development Authority is asking the legislature for the green light to issue the bonds. Nissan would pay back the bonds through leasing the buildings.

Copyright 2013 MSNewsNow. All rights reserved.

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