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Article: Northeast Mississippi Daily Journal, business briefs column.
- Article from:
- Northeast MS Daily Journal (Tupelo, MS)
- Article date:
- March 12, 2005
CopyrightCOPYRIGHT 2005 Northeast Mississippi Daily Journal. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Mar. 12--COLUMBUS --The Lowndes County Industrial Development Authority has applied for an $11 million federal loan to secure land for a steel mill project.
The money would come from the U.S. Department of Agriculture's Rural Development program.
Cliff Russell, with Rural Development, said in a letter read at Wednesday's authority meeting that the 30-year loan would not exceed $11.7 million and will cover land acquisition and other associated costs for a steel mill to be built on 1,360 acres near Golden Triangle Regional Airport. The industrial board will only pay interest the first two years of the loan and then will make annual payments of $744,890.
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