After a stellar 2022 economic development year, the Madison County Economic Development Authority (MCEDA) is looking to build on its successes this year. MCEDA is working on eight projects that could be announced by the end of the year. Two may make decisions in the 1Q of 2023, according to Executive Director Joey Deason. Madison County was selected for nine projects in 2022 with a committed investment of $585B, the majority of which was with Nissan. Those nine projects created 413 jobs. The estimated revenue from the corporate investment would be a recurring $4.1M for the county tax books. Those eight projects, should all choose Mississippi, would total $6.9B in investments and a total of 7,600 jobs. Deason said the projects cover a variety of industries. Two of those eight projects are already in the final stages of competitions ($181M investment/450 jobs). "I think we are in a good position for both," Deason told the Clarion Ledger.
Nissan announced it is investing $500M to transform the Canton (Miss.) Assembly Plant to build the company’s new electric vehicle line in 2025, its COO Ashwani Gupta said batteries for the new EVs will be assembled in Canton in the future. Most car plants converting to EVs have a battery facility locate nearby. Envision now partners with Nissan in England and does batteries in Smyrna, Tenn. But there hasn't been a battery partner selected for Canton. A major win for MCEDA in 2022 was Amazon, which completed its transformation in August into Mississippi's first robotic sorting center in Canton that may employ upwards of 1,500 people. (Clarion Ledger 01/02/23)
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