Legislation finalizing largest economic development deal in state history signed
Mississippi Gov. Tate Reeves has signed legislation that finalizes the largest economic development deal in state history. Steel Dynamics, Inc., its subsidiaries, and its partners will be investing $2.5 billion into Mississippi. The deal will lead to the creation of 1,000 jobs with an average salary of $93,000.
“This is a game changing win for the state of Mississippi,” Gov. Reeves said. “This investment from Steel Dynamics will have a generational impact on our community. I’m thankful to all those who helped make this deal happen. The future of our state is bright, and the ceremony was a further announcement to the world that Mississippi is open for business.”
Gov. Reeves signed House Bill 1, Senate Bill 2001, and Senate Bill 2002. The Legislature passed the bills during a special session called on Wednesday, Nov. 2.
Steel Dynamics is expanding its Columbus, Mississippi, campus, which is located on a Tennessee Valley Authority Mega Site, by locating two new facilities in the Golden Triangle Industrial Park: a state-of-the-art low-carbon, aluminum flat rolled mill and a biocarbon production facility.
A $1.9 billion recycled aluminum flat rolled mill will be built on a 2,000-acre site. This recycled aluminum flat rolled mill will serve the sustainable beverage packaging, automotive and industrial markets. The large-scale site will allow for a select number of customers to co-locate, which could increase investment in the community and add numerous additional jobs. Construction is expected to begin in 2023 with completion of the aluminum mill in 2025.
Additionally, Steel Dynamics joint venture SDI Biocarbon Solutions, LLC will be constructing a biocarbon production facility. Construction of the biocarbon production facility is expected to begin in 2022 and be completed late in 2023.
