Construction is set to begin immediately on the buildout for Parmida Technologies’ new space at the old Modern Line building in Indianola.
Parmida, which has locations in California and Canada, announced in July 2019 its intent to locate its latest North American e-commerce operations center in Indianola and signed a subsequent agreement with the Sunflower County Board of Supervisors to cement the project.
The board put the finishing touches on the lease-purchase agreement with Parmida this week, and David Smith Construction will begin the buildout of a little over 100,000 square feet at the Modern Line building.
The board agreed on Monday to amend the lease purchase agreement to reflect a change in some of the figures, Board Attorney Johnny McWilliams said.
“It’s necessary because the figures have changed,” he told the board. “Our original agreement called for a $400,000 grant and a $1.2 million loan. Actually, when the figures came in, the bid was $1,618,400, which is about $16,800 more than what we had available. But the MDA (Mississippi Development Authority) loan, they have agreed that they would loan up to $1.5 million. We don’t want to use any more than we have to, and Parmida doesn’t want to use any more than they have to, because they are actually the ones who are going to be paying the loan back. When the loan is finalized, they will be paying us the monthly payment of rent, which will equal the monthly payment that we have to pay on the loan to MDA.”
McWilliams confirmed after the meeting that the final documents have been signed and construction is set to start.
Parmida, in its agreement with the county and MDA, guaranteed the creation of at least 20 jobs, with the anticipation of more jobs being created from the project.