State can be big winner in deal making

Published 12:00 am Thursday, March 30, 2006

If someone stopped you on the street and offered to give you $8 in cash in exchange for three nickels, you&8217;d likely clutch your wallet or purse a little more tightly and quickly walk away.

But, what if it wasn&8217;t some shyster or street swindler? If the offer was genuine and you could multiply your three-nickel investment 50 times over, you would probably jump at it, especially if you knew you had nothing to lose.

That&8217;s essentially the decision facing Mississippi.

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Local leaders are seeking a $15 million in state funds to help prepare the former Belwood Country Club site for possible development by Rentech.

The company hopes to bring a new, state-of-the-art facility to Adams County. The $800 million plant would convert coal into natural gas and would employ approximately 200 people once production begins and approximately 1,500 construction-phase jobs.

Earlier this week, the Legislature clutched tightly on its three metaphorical dimes, allowing a number of bond bills &8212; including Rentech &8212; to die, at least temporarily.

But Tuesday night, they saw the deal for what it is and passed the full $15 million. Now all that remains is the governor&8217;s John Hancock. Gov. Haley Barbour has responded positively in the past to Rentech, and the money seems more likely than ever now.

If three nickels can get the state $8 &8212;and if we know Rentech&8217;s check is good &8212; then Barbour&8217;s decision is a no-brainer.