Rentech not before legislature yet By Joan Gandy

Published 12:00 am Tuesday, January 17, 2006

Natchez &8212; A bill approved Thursday by the state House of Representatives to award $14.5 million for an economic development project in northeast Mississippi should not have an impact on a forthcoming Adams County request of the MDA, said Sen. Bob M. Dearing of Natchez.

&8220;That&8217;s not even close similarity to our request for Rentech,&8221; he said, referring to a bill he will file asking for Mississippi Development Authority assistance to the company interested in building a coal gasification plant in Natchez.

Recently, Natchez officials said the request of MDA would be for $15 million, matched by $10 million from Rentech Inc., to start construction of the plant at the old Belwood Country Club site.

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However, Dearing said he is waiting for further information from the Natchez-Adams County Economic Development Authority before filing the bill. Bonding authority bills deadline in February.

Andrew Ketchings of Natchez, legislative liaison to Gov. Haley Barbour, said he wants to bring the governor up to speed on the Rentech plan.

&8220;The governor needs a briefing paper on it. I want to get him caught up on it,&8221; Ketchings said.

Dearing said he has no sense of how likely the Senate is to pass the Wellspring bill, House Bill 206.

&8220;They&8217;re trying to develop the site, and they don&8217;t have a prospect,&8221; Dearing said of the Wellspring project, supported by Pontotoc, Union and Lee counties.

The bill to fund Wellspring would provide money to purchase land where developers hope to lure an automobile manufacturing plant. Under the bill, the three counties will match the $14.5 million with $4.5 million.

Dearing went on to say that he knows the area needs the economic development boost because of the decline in furniture manufacturing there.

&8220;Theirs is a totally different concept from ours, and I don&8217;t know enough about it to give an opinion yet,&8221; Dearing said. &8220;Theirs is potential economic development, and ours is trying to get Rentech into Natchez.&8221;

State officials have been pleased with Rentech&8217;s financial backers. M.A.G. Capital and Credit Suisse First Boston are backing the project, which would be a $650 million to $750 million investment in Adams County.

The plant would employ 200, with the construction phase putting about 1,500 people to work over a four-year period.

The Wellspring bill should reach the Senate Monday or Tuesday, Dearing said. He has been impressed with the people from the northeast Mississippi area coming to the Capitol to show unity for the project.

Supporters from the three counties involved have lobbied for the bill both in the interim between the last legislative session and the opening of the 2006 session and also during the past week, Dearing said.

&8220;The supervisors and the business people from those three counties have been here all week with their Wellspring buttons on and meeting with legislators. They have really shown that their people are together on this project.&8221;

Efforts to reach Natchez EDA spokesmen Friday were unsuccessful.