Miss. settles beef plant case for $3.9 million
Attorney General Jim Hood said Monday that he’s settled the state’s 2007 lawsuit against the firms that built a financially disastrous beef plant in the Yalobusha County town of Oakland.
Hood said the state recovered $3,965,000 from an insurer for Georgia’s Facility Group, which was hired to oversee construction of the plant. Of that amount, $65,000 will go to an unpaid conveyor belt contractor, leaving $3.9 million for the state.
Federal, state and local subsidies for the project totaled at least $50 million, including more than $40 million in state loan guarantees. The plant operated only three months, and never reached its full capacity, before the business closed in 2004, laying off 400 people.
AP
4/16/12
Magnolia Tribune
