Gov. Reeves calls second special session for economic development

Published 2:11 pm Wednesday, January 24, 2024

Mississippi Gov. Tate Reeves on Wednesday called lawmakers to a special session of the Legislature to move forward with an incentives package for what he said was the largest economic development investment in the state’s history.

At a press conference, Reeves said the new industry, which he declined to name, will invest at least $10 billion into two data center complexes in Canton and Madison County.

“The size of this investment is unlike anything we have seen before,” he said.

The two centers, Reeves said, will be located seven miles and 20 miles from downtown Jackson and will create approximately 1,000 new jobs for Mississippians living in the capitol and surrounding communities. The jobs, he said, will be good paying jobs of the future and not unskilled labor at risk of automation.

“It is truly a testament to the people of Mississippi that major companies are choosing our state for innovative jobs just like these,” he said.

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House Speaker Jason White said he wanted to recognize Madison County officials for their work in bringing this new economic opportunity to Mississippi. The data centers, he said, will be a boost for all of the state.

“It is a game changing economic development for your people and the people of Mississippi,” he said.

The special session is scheduled to gavel in at 9:30 a.m. Thursday and could be finished the same day.

Wednesday’s announcement comes just one week after Reeves called a previous special session to consider a separate $1.9 billion economic development opportunity in Marshall County. Legislators on Thursday, Jan. 18, approved a $350 million incentives package for an electric battery manufacturing facility that is expected to generate 2,000 new jobs.

At the press conference, Lt. Gov. Delbert Hosemann said Mississippians should understand the economic development opportunities being announced are not the result of luck. Instead, he said, the new investments in the state are a result of years of hard work.

Over the past few years, Mississippi has worked to raise graduation rates, invested hundreds of millions of dollars in infrastructure, retooled its economic development incentives and more, Hosemann said. Now, all of that work is now paying off, he said.

“We didn’t get lucky today,” he said. “We earned this.”

Reeves said he will ask legislators to make a $44 million appropriation for the company to come in and build its data centers. Of that, he said, $32 million will be spent training Mississippians to fulfill the jobs those centers create.

Additionally, the Legislature will consider a $215.1 million loan for Madison County, which will be repaid by the company in lieu of taxes, Reeves said. Of that $215 million, approximately $117 million will go toward sewer upgrades, $14 million to water upgrades and about $15 million to road upgrades, he said.

The upgrades are needed as the data center complexes will need high volumes of water for their cooling processes, Reeves said, adding that a new fire station to service the complex in Madison County will also be paid for from the loan.

Also included in the Legislation will be some language helping to cut through the red tape. Reeves said he has already spoken to the public service commission, Mississippi Department of Environmental Quality and other organizations that are involved to help speed up the process.

Should everything go smoothly, the data center complexes could be built and operational in 2027, he said.