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NATCHEZ, Miss. (AP) — A British company aims to build a refinery in southwest Mississippi that will turn wood into the equivalent of diesel or jet fuel.

Velocys announced Friday that it has signed an option for a 100-acre (40-hectare) site in Natchez

The Natchez Democrat reports Velocys plans 40 refinery jobs paying an average of $100,000 yearly, and could indirectly support another 100 forestry jobs paying $40,000 on average.

Mississippi Development Authority Chief Economic Development Officer Billy Klauser says the company could invest several hundred million dollars.

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The company says Adams County has offered it tax incentives worth $42 million, and says it could get $15 million in state tax breaks.

Velocys says Adams County has offered $4 million in land and upgrades and says local utilities have offered $1 million in upgrades.

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Information from: The Natchez Democrat, http://www.natchezdemocrat.com/