JACKSON, Miss. (AP) — Mississippi could borrow $20 million to help Cooper Tire & Rubber Co. update its factory in Tupelo, Miss.
The Northeast Mississippi Daily Journal reports that Gov. Phil Bryant signed a bond bill Wednesday.
Mississippi Senate Bill 2975 says Findlay-based Cooper would be eligible for $8 million during fiscal year that starts July 1, followed by $6 million in each of the next two years.
David Rumbarger, CEO of the Tupelo-based Community Development Foundation, says government officials and Cooper are working on an agreement to give the Mississippi aid and local tax breaks to the company if it commits to maintaining at least 1,300 jobs and investing $140 million in the Tupelo plant.
Rumbarger says officials hope the agreement will be set by late June.