Governor Tate Reeves is calling a special legislative session to finalize what he says will be the second-largest corporate capital investment in state history.
The $1.9 billion project, located at the Chickasaw Trails Industrial Site in Marshall County, is expected to create 2,000 jobs with an average annual salary of approximately $66,000 — the largest annual payroll commitment of any major project Mississippi has ever seen, according to the governor.
At the site, there will be production and delivery of electric batteries by an unspecified American-based company the governor says is a household name that Mississippians will recognize once announced.
“It will further enshrine Mississippi as a national leader in the automotive industry. This deal is further proof of the good things that are happening in our state,” Reeves said. “The momentum we’re experiencing at the moment is unprecedented. Mississippi is attracting new jobs, and our economy is growing stronger every day. Today’s announcement further cements that.”
The special session to approve and finalize the details of the newly announced economic development plan will begin on Thursday at 9 a.m. Both Lt. Gov. Delbert Hosemann and House Speaker Jason White anticipate that the project will be rapidly approved by both chambers.
Mississippi will be tasked with putting up $350 million for the project to cover the infrastructure of the 500-acre site and other elements of the project, but Reeves is confident that the electric battery production and delivery will pay dividends and yield a profit on the state’s end. Reeves also anticipates more businesses in the electric vehicle sphere to be located in or near Marshall County after the project comes to fruition.
