The Office of the State Auditor has issued a demand letter to John Cullen, CEO of Payliance Inc. for failing to meet economic development agreement terms with the state. The demand is for $234,729.67 and includes principal, interest, and investigative costs.
In 2010, Mississippi Development Authority awarded a $400,000 grant to the Lafayette County Chamber of Commerce to be administered to Payliance Inc. The grant required the company to create 60 jobs at its Oxford location to avoid default.
From August 2010 to May 2011, Payliance received $174,233.87 from the ACE Fund, which is administered by the Mississippi Development Authority. No employment verification was submitted to Mississippi Development Authority or the Mississippi Office of the State Auditor. Payliance has now relocated to Ohio.
“The fact that Payliance has moved to a different state is not going to stop us from pursuing the money that is owed to the taxpayers,” said State Auditor Shad White. “The Investigations Division worked hard to complete this case in the last month, and I thank them for their diligence. We have to ensure that companies that make promises to Mississippians keep those promises or pay back what they owe us.”
