Though CertainTeed Ceilings closed its ceiling tile manufacturing plant in Meridian in April, Lauderdale County and the City of Meridian still owe a combined $513,703 on a $700,000 loan for capital improvements made to entice the company to reopen its doors. 

CertainTeed reopened in 2014, after stopping production in 2009, with a big ceremony attended by Gov. Phil Bryant and other business leaders from across the state.

According to the Mississippi Development Authority, the plant invested $24 million to create 110 new jobs, with the state contributing an additional $1.7 million. MDA spent $1.1 million, while Lauderdale County borrowed $700,000 for infrastructure and rail improvements. Both the city and the county agreed to pay back $350,000 each.

Lauderdale County, through an information request, said Friday morning that the county and city, combined, have 76 payments of $6,759.25 per month remaining. The city pays their half of the payment to Lauderdale County, which then pays the Mississippi Development Authority.

County and city leaders say taking on debt is one risk when it comes to attracting new businesses.

“You have to make a decision that it’s worth the effort to try to get a business to come in. Some don’t make it,” George Thomas, the Ward 1 representative for the Meridian City Council, said. “At the time, we thought it was (worth it). Looking back, it wasn’t.”

While it’s hard to predict the future of a company, Thomas said that when these deals are made, leaders need to need to look closely at the financial stability of a company.

“And how much are they willing to invest in it, rather than depending on tax breaks and the government,” Thomas said. “The question is, how does the community benefit?”

For Lauderdale County Board of Supervisors President Wayman Newell, getting jobs for county residents remains a priority.

“To me, anytime you can get the citizens of Lauderdale County, or at least some of them, a good-paying job, you have to take the opportunity,” Newell said. “You have to take chances to put people to work.”

Newell remembered a company he worked for that once had to close its Meridian plant in favor of its York, Alabama arm.

“When it’s open, it’s a good thing,” Newell said. “But when it’s closed, it’s a bad thing.”

CertainTeed, also, was granted ad valorem tax exemptions from both the City of Meridian and Lauderdale County as an incentive to open. 

In late November, CertainTeed filed a suit in the 10th Circuit Court arguing that the property value assessment performed by the Tax Assessor’s Office was too high.