NATCHEZ — It’s official. Natchez Inc. will live to see its sixth birthday.

Gov. Phil Bryant signed Tuesday the legislation that allows Natchez Inc. to exist as a public-private partnership until 2016.

Natchez Inc.’s authorization was set to expire in 2013, but the Natchez aldermen and the Adams County Board of Supervisors sent resolutions to the legislature earlier this year asking that it be extended for five more years.

The resolutions were forwarded at the request of Natchez Inc. Executive Director Chandler Russ.

Before final passage, state lawmakers modified the legislation to only extend the authorization for three additional years.

“We are thankful that both bodies of the legislature, as well as the governor, moved our bill through and signed it and authorized us to proceed,” Russ said.

Natchez Inc., the development partnership responsible for economic recruiting in Adams County, requires legislative approval to receive public funds from the county and city governments. Its predecessor, the Economic Development Authority, did not require such approval because it was an official political subdivision.

Natchez Inc. is a public-private partnership that is funded by the city, the county and a group of local businesspeople named Natchez Now. The legislation caps the county’s contribution at $165,000 and the city’s at $100,000 annually. Natchez Now contributes $115,000 a year, Russ said.

Now that the legislation is law, getting the funding is a matter of submitting a request to the appropriate boards.

“We do an annual request for that funding,” Russ said. “We typically will appear in person or will make the request through a formal request letter.”

Natchez Inc. was formed in 2010. Since then, five companies — Elevance, KiOR, Virdia, Magnolia Frac Sand and Fores Frac Sand — have announced plans for projects that will create a combined total of 725 direct or indirect jobs in the area.

Virdia was formerly known as HCL Cleantech.

Another company, Enersteel, which 25 employees and hired an additional 50 after purchasing the former Dynasteel facility.

 

Editor’s note: The original version of this article incorrectly reported the length of time the new law extended authorization for the City of Natchez and Adams County to fund Natchez Inc. We regret the error and are happy to correct it.