WJTV News Channel 12 - Nissan Wants $100 Million to Expand Plant

Nissan Wants $100 Million to Expand Plant

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     The Nissan plant in Canton is looking at a major expansion, and they want the state to help them foot the bill.

     A lager plant could bring hundreds of new jobs to Madison County.

     According to one state lawmaker, the automaker wants the legislature to authorize the Madison County Economic Development Agency to sell $100 million in bonds.

     But taxpayers would not be on the hook if the automaker fails to pay back the money.

     Bondholders would come after the company to get what's owed, according to state senator Will Longwitz. A Senate bill to OK the bonds is sponsored by Longwitz.   

     Nissan wants to build three new large buildings on 200 acres north of the existing plant off I-55 north.

     The county will own the buildings. And Nissan would pay off the bond debt through lease payments.

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