BILOXI, Miss. (WLOX) – Elon Musk’s $20 billion investment into a new AI data center in Southaven is no slouch. What factors helped this happen?
The data center is being called MACROHARDRR, and its goal is to aid other operations in the Memphis metropolitan area. A big incentive for this move is a tax exemption granted by the Mississippi Development Authority.
The MACROHARDRR project met all the requirements by meeting the minimum capital investment and creating at least 20 new full-time jobs with an annual salary of 125% of the average annual wage. The exemption will last 10 years.
In fact, a few things are making Mississippi really attractive for industry. Gov. Tate Reeves and the state legislature have really been attacking economics — exemptions for businesses, for one, but also the phasing out of income taxes and cuts to sales tax on groceries, attempting to make it more affordable for workers. Environmental regulations are also more favorable for development.
So, what does this mean for South Mississippi? Established industries are receiving growth because of that — more investments at Stennis Space Center, Ingalls, and a big one: the BWC Terminal Facility, which will aid the Chevron Refinery in Pascagoula.
Jamie Miller with the Gulf Coast Business Council says it may not seem glamorous, but business is pressing on in South Mississippi.
“You’re seeing it down here, but those announcements don’t feel as big because we have so many industries already operating here,” said Miller. “South Mississippi is due for more investment for sure.”
It’s no happenstance — officials are attempting to lay a foundation to make Mississippi more attractive to investors, and they are doing it through economic leverage.
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