Governor Tate Reeves signed legislation Thursday that finalizes the largest economic development deal in state history.
Authorities say 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. This investment from Steel Dynamics will have a generational impact on our community,” said Reeves. “I’m thankful to all those who helped make this deal happen. The future of our state is bright, and today’s ceremony was further announcement to the world that Mississippi is open for business.”
Reeves signed House Bill 1, Senate Bill 2001, and Senate Bill 2002, which were passed by the legislature during a special session called on Nov. 2.
Steel Dynamics is expanding its Columbus campus, which is located on a Tennessee Valley Authority Mega Site, by locating two new facilities in the Golden Triangle Industrial Park. One will be a state-of-the-art low-carbon, aluminum flat rolled mill and the other, a biocarbon production facility.
A $1.9 billion recycled aluminum flat rolled mill will be built on a 2,000-acre site. This 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.