A year after the Mississippi Silicon project fell through in Lowndes County, entities are getting reimbursed nearly a quarter of a million dollars.
For the second time in three years, a company is promising to build a silicon metal production facility and add hundreds of jobs in Mississippi.
Only this time, officials say it will be in Burnsville.
Venture capitalist John Correnti is among the investors connected with a $1.1 billion steel mill headed for Mississippi — Mississippi County in Arkansas.
Two weeks after backing out of a $600 million that promised 971 jobs for Lowndes County, state officials are staying silent regarding the latest developments with California-based Silicor and its plans to continue to locate in Mississippi.
In a “thanks but no thanks” statement released by Silicor Materials on Monday, CEO Terry Jester said the company plans to build a silicon metals production plant and silicon purification plant elsewhere in the state.
On the surface, Lowndes County, Amory, Ontario, Ohio, and Stanly County, N.C., don’t seem to have much in common.
That they all have a desire for economic development and job creation certainly doesn’t make them unique. What they do have in common, however, are their frustrating experiences with venture capitalist John Correnti.
There is an old adage in sports that goes, “Lose the loss, but don’t lose the lesson.”
On Wednesday, Golden Triangle Development Link CEO Joe Max Higgins confirmed what had been obvious since the start of the week: The grand, $600 million, 971-job Silicor project will not be coming to Lowndes County.
After more than two years of wheeling and dealing, an economic development deal once known as “Project Apollo” came to a whimpering halt Monday, bringing the promise of 971 new jobs to the area down with it. But officials connected to the project say it started to burn out almost from the start.
Silicor Materials has missed a Dec. 31 deadline to put up $150,000 in earnest money, jeopardizing the two-phase, $600-million project, according to a source close to the project.
As the eleventh hour approaches, Lowndes County officials are still in the dark when it comes to Mississippi Silicon (Silicor Materials) and the company’s intentions to build a facility in the area.