$1.9 Billion Project Coming to Mississippi (Jackson, Madison: how much, houses, buying)

[viverlibre]

Jackson Jambalaya: $1.9 Billion Project Coming to Mississippi

Flanked by the leadership of Mississippi, Governor Tate Reeves announced a $1.9 billion economic development project creating 1,800 jobs will land in Marshall County.

Governor Reeves said the annual payroll will be $132 million. The project is the second-largest economic development project in Mississippi. The project involves the production of electric automotive batteries. The Governor did not identify the company but said it is a "household name."

The Governor said he will call for a special session within the current legislative session to open Thursday. WAPT's Ross Adams asked how much the project will cost. Governor Reeves said the total cost will be $350 million. Infrastructure improvements comprise half the package. The Governor said there are guarantees in place that have to be met by the company.

"This is going to change lives for thousands and thousands of people in Marshall County and Mississippi," said the Governor. The average salary will be $66,000, excluding benefits.

"It's a great day for Mississippi," said Speaker of the House Jason White.

Lieutenant Governor Delbert Hosemann said the project is proof "Mississippi is open for business." He said the legislative package will be passed rather quickly.

[stephenMM]

Using the words leadership and Governor Reeves in the same sentence is sort of self canceling. These are politicians we're talking about, so I wouldn't bet the farm on what their PR department says. Having grown up in Mississippi, I am very familiar w/ how these things work. An average salary of $66,000 in a company in Mississippi???

[Listener2307]

Originally Posted by stephenMM

Using the words leadership and Governor Reeves in the same sentence is sort of self canceling. These are politicians we're talking about, so I wouldn't bet the farm on what their PR department says. Having grown up in Mississippi, I am very familiar w/ how these things work. An average salary of $66,000 in a company in Mississippi???

It's going to be wrong, but maybe not by much. Toyota Mississippi averages 24.50/hour. Nissan only pays an average of $16.68.
The other thing that always comes up wrong is the number of employees. If the manufacturer is, indeed, a household name there may be 1800 jobs. But lets face it - companies locate to Mississippi because we work for peanuts.
Let's call it 1500 jobs paying 50K each. $75M payroll.



So Mississippi shells out $350M and gets a couple thousand families who will be fairly stable, and who will drive around buying houses and stuff and doing all the things employed people to spend $75M each year.
I dunno - sounds like a good deal to me.

[Suesbal]

I guess doing business with China is good after all.
https://mississippitoday.org/2024/01...inese-company/

[Listener2307]

Originally Posted by Suesbal

I guess doing business with China is good after all.
https://mississippitoday.org/2024/01...inese-company/

I don't see the harm as long as China owns only 10% of the company and has no physical presence at the plant. After all, it is their technology. Send them a dividend check.

[golden eagles fan]

While great news for Marshall County, it's about to be dwarfed by a mega project proposed in Madison County:

https://www.wlbt.com/2024/01/23/gov-...c-development/

[Suesbal]

Marshall County is historically poor, but the western edge has I-269 running through it and some light industries and warehouses.

[viverlibre]

Originally Posted by golden eagles fan

While great news for Marshall County, it's about to be dwarfed by a mega project proposed in Madison County:

https://www.wlbt.com/2024/01/23/gov-...c-development/

Yuup more good news.