On Wednesday, November 2, Gov. Tate Reeves and Mississippi Legislature finalized one of the greatest economic development projects of the region, which is expected to create 1,000 employment opportunities in Lowndes County. The Mississippi House and Senate have approved the tax incentives for the companies' expansion in the Golden Triangle.
Apart from the state-of-the-art low-carbon, aluminium flat-rolled mill and a biocarbon production facility by Steel Dynamics, the $2.5 billion project will also include a recycled aluminium flat-rolled facility. This facility will supply the automotive, industrial, and industrial packaging sectors. The project is a part of Steel Dynamics' expansion of its Columbus, Mississippi, campus, which is situated on a Tennessee Valley Authority Mega Site.
A small number of customers will be able to co-locate at the vast location, potentially increasing investment in the neighbourhood and creating a significant number of new employments. The aluminium plant is anticipated to be finished in 2025 after construction starts in 2023.
“With this record-breaking investment, Steel Dynamics is creating 1,000 high-quality, blue-collar jobs that pay more than double the current average salary of Mississippi. I want to thank Steel Dynamics, the Mississippi Legislature, the Mississippi Development Authority, Joe Max Higgins and Golden Triangle Development LINK, and everyone involved in this project whose diligent work was instrumental in securing this tremendous economic development win for the people of our great state. This historic project will have an unprecedented impact on the entire state of Mississippi and is a testimony to our state and its incredible workforce,” said Gov. Tate Reeves.
The Steel Dynamics joint venture SDI Biocarbon Solutions, LLC will also build a biocarbon production plant. The biocarbon manufacturing facility's construction is anticipated to start in 2022 and end by 2023.
The Mississippi Major Economic Impact Authority was given permission to provide financial support for the project by the Mississippi Legislature on November 2, 2022. The money will go toward workforce development, infrastructural upgrades, and site preparation. Additionally, Lowndes County provides public infrastructure and property. The project is also receiving assistance from the 4-County Electrical Power Association and the Tennessee Valley Authority.
_0_0.gif)
“We are eager to expand our presence in Columbus, and we appreciate the warm welcome and support that we have received from officials, Governor Tate Reeves, and the State of Mississippi, as well as leaders from the Mississippi Development Authority and local leaders from the Lowndes County Board of Supervisors, the Lowndes County Industry Development Authority, the Lowndes County Port Authority, the Golden Triangle Regional Airport Authority, and the Golden Triangle Development LINK. We thank them for their trust, shared vision, and support of these important strategic investments,” said Mark D. Millett, Chairman, President, and Chief Executive Officer, Steel Dynamics, Inc.
Responses
