Tenn. Prevailing Wage Law Rescinded as of Jan. 1

VOL. 7 | NO. 2 | Saturday, January 04, 2014

Mississippi Gov. Phil Bryant capped a busy 2013 on the economic development front with a New Years Eve announcement of a $200 million silicon metal plant near Corinth.

The Mississippi Silicon plant will employ 200 when completed in the town of Burnsville, 100 miles southeast of Memphis. The metal made there will be used in chemical, aluminum and automotive plants.

Mississippi Silicon is a company formed by Investor Clean Tech I LLC and Rima Holdings USA Inc.

Mississippi is providing financing through a state revolving fund for building construction and workforce training. The state is also using new market tax credits. Additional incentives are being provided by Tishomingo County government and the Tennessee Valley Authority.

Just before the Mississippi Silicon announcement, Bryants office tallied $1 billion in new investment in the state during 2013 and the creation of 6,265 new jobs.

That compares to $455.5 million in new investment in Mississippi in 2012 and the creation of 2,664 new jobs.

Announcements in 2013 included a $140-million Feuer Powertrain plant in Tunica that will create 300 new jobs; executives of the German-based company broke ground for the plant this past September.

In May, the Danish company Roxul Inc. broke ground on a $160-million plant near Byhalia in Marshall Countys Chickasaw Trail Industrial Park at the Tennessee state line. The Mississippi plant is the first U.S. plant by the company that makes rockwool insulation.

Earlier in December, Aluma-Form Inc., which makes overhead electric utility products, began construction of a $6.7 million plant in a Walnut industrial park. The new plant for the company, which was founded in Memphis in 1961, will create 125 new jobs.

Originally posted here:
Tenn. Prevailing Wage Law Rescinded as of Jan. 1