The Mississippi House and Senate have agreed on the tax incentives for the companies expansion in the Golden Triangle.
Governor Tate Reeves has signed into law SB 2001, SB 2002, and HB 1.
This $2.5 billion corporate investment by Steel Dynamics, Inc., its subsidiaries, and its partners expect to create 1,000 jobs with an average salary of $93,000 in Lowndes County.
Steel Dynamics, which is already a Mississippi company, is expanding its Columbus campus, which is located on a Tennessee Valley Authority Mega Site. They will be doing so 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.
RELATED: Lawmakers move forward on incentives for economic development project
On November 2, 2022, the Mississippi Legislature approved financial assistance for the project through the Mississippi Major Economic Impact Authority. The funds will be used for site acquisition and site preparation, infrastructure improvements and workforce training. Lowndes County also is providing land and public infrastructure. The Tennessee Valley Authority and 4-County Electrical Power Association also are assisting with the project.
Steel Dynamics plans to fill positions at the facilities over the next few years.