(Senatobia, MS) Senatobia’s Twin Creeks Solar plant reportedly got 27 million dollars in state money and incentives to build this manufacturing plant in Senatobia.
But a couple of years later, thanks to intense competition from China, the company is selling off equipment, and the promise of hundreds of high-tech jobs is lost.
”We’re really disappointed. We were excited about the opportunity for jobs in the County and it’s just a deal that didn’t work out,” said Senatobia Mayor Alan Callicott.
That may be an understatement.
Because this deal that didn’t work out, it may forever change Mississippi’s economic development strategy.
Governor Phil Bryant is so upset about the Twin Creeks deal, he’s suing the company to get some of the State’s money back, and wants to stop supporting deals with start up companies.
The lawsuit charges fraud on Twin Creeks’ part, and seeks to block the company from selling its patents to another company for 10 million bucks.
Bryant, a former State Auditor, says his conservative financial views don’t favor giving big breaks to companies without a track record.
Senatobia’s Mayor says extra scrutiny couldn’t hurt, ”There’s nothing wrong with doing plenty of due diligence and making sure that everything’s on the up and up.”
He says in this deal, everything was, but in Governor Bryant’s view, it apparently wasn’t good enough.