These 16 South MS projects could get total of $69 million from BP oil spill settlement [Yahoo! Finance]
BP p.l.c. (BP)
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Source: Yahoo! Finance
The grant money for economic recovery comes from a settlement the Gulf states reached with BP and related companies over the 2010 oil catastrophe. The Mississippi Legislature controls the funding — a total of $477 million arriving in annual increments of about $30 million through 2033. The Legislature has skipped funding for the last two years after overspending, and will have $69 million for the coming year. The Gulf Coast Restoration Fund Advisory Board, a volunteer group of business leaders, spends months reviewing projects, then recommends top picks to the state. The Mississippi Development Authority also weighs in on top projects legislators should consider. However, the Legislature does not always follow the business community's advice. Over four years, the Legislature has appropriated more than $200 million to projects in the six southernmost counties. But the funding has produced only a few projects that promise the kind of transformative economic impact the business co
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