Taxpayers will bear the total cost of the failed Mississippi Beef Processors that was built with millions of dollars in state-guaranteed loans and grants.
State officials ended their efforts to sell the Oakland, MS, plant and now must figure out how to pay the $55 million bill. Officials had hoped to find someone to buy the plant and put it back into operation. While experts had said any buyer would pay pennies on the dollar, the state had hoped some of the 400 people who lost jobs would be put back to work.
Both firms the state was courting failed to follow through.
