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Bad precedent? Doubts raised about Wellspring.

Publication: Mississippi Business Journal
Publication Date: 23-JAN-06 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
Despite concerns from Gov. Haley Barbour, Mississippi Development Authority (MDA) chief Leland Speed and, according to a recent Mississippi Business Journal online survey, approximately three-fourths of business readers from across the state, the House passed legislation two days after the start of the 2006 regular session supporting the controversial Wellspring project economic development site in Northeast Mississippi.

Business leaders in Pontotoc, Union and Lee counties--the PUL Alliance--trying to overcome the loss of furniture jobs in the region, are lobbying for $14.5 million in state funds to match $4.5 million in local funds to acquire roughly 1,700 acres in Union and Pontotoc counties and prepare the site in hopes of attracting an automaker to the area. The option to purchase the land, owned by 21 people, expires in November.

"I oppose using the challenges facing the furniture industry as an excuse to pit the economic development project of...

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