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March 3, 2007
Toyota Picks Mississippi
Toyota finally picked a location for their new plant. Chattanooga lost out because of concerns over air quality. It was thought that Marion, Arkansas was the front-runner, but Toyota has officially chosen Tupelo, Mississippi.
Mississippi legislators jubilantly passed an incentives package that includes $293 million to Toyota to pay for roads, water and sewer lines, $60 million to local governments to acquire land, and $30 million for Toyota's preferred auto suppliers.
The hoped-for economic benefit to Memphis if nearby Marion was chosen won't be realized as Tupelo is 100 miles away. Still, there should be some effect given Memphis' position as a major shipping hub.
Posted
on Saturday at 6:26 PM
in category Economies
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