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Mississippi News

Steel Dynamics receives major incentives deal

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What is Steel Dynamics, the Fortune 500 company that lawmakers gave $247M?

State lawmakers on Wednesday approved a $247 million tax incentives deal for Steel Dynamics Inc., a Fort Wayne, Indiana-based company that already has a manufacturing presence in Mississippi, to expand and build an aluminum mill near Columbus.

Steel Dynamics, a Fortune 500 company founded in 1993, is the third-largest producer of carbon steel products in the U.S. and one of the largest metal recyclers. It owns facilities across the U.S. and in Mexico.

READ MORE: Lawmakers pass $247M in incentives for aluminum mill

The company for the third quarter of 2022 reported record steel shipments of 3.2 million tons, net sales of $5.7 billion and an adjusted net income of $994 million. The company is considered one of the most profitable steel companies in the world and it employs around 10,000 people.

The company already operates a scrap-fed electric arc furnace steel mill in Columbus and plans to build a massive aluminum flat-rolled mill and other new operations in Mississippi that the company says will create at least 1,000 new high paying jobs.

Mississippi Gov. Tate Reeves on Wednesday, after state lawmakers approved the incentive deal, praised Steel Dynamics and the people who work at its existing Columbus plant.

“Do not forget the men and women employed at Steel Dynamics today,” Reeves said. “They would not be investing $2.5 billion today if not for the fact that Mississippians show up every day for work and they produce.”

According to industry reports, electric vehicles are requiring substantially more aluminum than traditional automobiles, and Steel Dynamics is positioning itself to take advantage of this. Company leaders in late summer, when discussing plans for a new plant, said labor and energy costs at their planned facility will be much less than traditional because of state-of-the-art equipment they plan to install. They said the aluminum rolling mill will work along with satellite recycling centers in the U.S. and Mexico.

Steel Dynamics’ existing Columbus steel mill was previously owned by Severstal North America and was bought by Steel Dynamics in 2014. The company said its Columbus mill “is currently the most technologically advanced (electric arc furnace) facility in North America” and can produce 3.4 million tons of steel a year. It serves the auto, agriculture, appliance and construction industries along with HVAC and pipe companies.

In 2021, Steel Dynamics settled a lawsuit with the U.S. Environmental Protection Agency after the federal government alleged the company was not complying with emissions standards at two of its facilities in Butler, Indiana. The company agreed to pay a civil penalty of $475,000 and spend $3 million to upgrade its air pollution control equipment.

READ MORE: Odd coalition of Dems, GOP questions governor’s plan to give company millions for aluminum plant

This article first appeared on Mississippi Today and is republished here under a Creative Commons license.

Mississippi News

Bond set for three accused of assaulting woman in Vicksburg

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www.wjtv.com – Kaitlin Howell – 2024-11-13 16:44:00

SUMMARY: Three suspects were arrested in Vicksburg, Mississippi, after a violent assault was streamed live on Facebook on November 9. Ronjanae Hill (24), Marcus Ross (33), and Charles Doss (27), all from Vicksburg, were charged with aggravated assault. They appeared in Vicksburg Municipal Court on November 12. Hill and Ross each received a $75,000 bond, while Doss’s bond was set at $100,000. All three were bound over to the Warren County Grand Jury. The assault occurred at an apartment complex, and further details about the incident were not disclosed.

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Mississippi News

Columbus organizations team up for annual Turkey Drive

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www.wcbi.com – Eric Lampkin – 2024-11-13 14:52:00

SUMMARY: The Lowndes County Sheriff’s Office and the Community Benefit Committee are organizing their annual Turkey Drive to ensure residents have a turkey for Thanksgiving. They are requesting frozen turkey donations from local residents and businesses, which can be dropped off at the Sheriff’s Office until November 21. Last year, they gave away 1,800 turkeys. The Turkey Giveaway, open to Lowndes County residents, will take place on November 23 at 10 a.m. at the Lowndes County Sportsplex. This marks the 5th year of the giveaway, aiming to provide a festive meal for those in need.

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Mississippi News

Mississippi invests more than $110 million toward economic development

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www.wjtv.com – Cameron Smith – 2024-11-13 14:43:00

SUMMARY: Governor Tate Reeves of Mississippi announced an investment exceeding $110 million aimed at enhancing economic development, infrastructure, workforce training, tourism, and conservation across the state. The funding will be allocated through various programs including the Mississippi Development Authority and the Appalachian Regional Commission. Key projects include site developments in multiple industrial parks, upgrading wastewater systems, and enhancing training facilities. Reeves emphasized that these investments are critical to sustaining the state’s economic growth and creating high-paying job opportunities for residents. The comprehensive financial support also includes grants for educational improvements and infrastructure enhancements statewide.

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