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PONTOTOC, Miss. (WCBI) — An old building may get new life and new jobs in Pontotoc.

The city has obtained a $400,000 loan through Three Rivers Planning and Development District to buy the old Wilton building.

The city plans to lease the building for 15 years to a new industry, which will initially employ 35 workers with possibilities for expansion.

A $500,000 state grant will help renovate the plant. Work could begin by next month.

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