Biggest economic development project in MS history coming to Golden Triangle....
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I am referring to the currency and our supply of it. Its the countries money, and we all have a piece of it to use as legal tender. Can you imagine if everyone created their own form of currency? Yes, we all do share it, and its overall value. That is why counterfeiting is illegal, and considered very bad. What you have in your pocket is what value you are to your nation. Or at least that is how its should and suppose to work.
One, who says they are borrowing using US dollars? This could be funded by a Canadian or even Chinese investors. Either way, this entire line of commenting is entirely irrelevant and off topic to the thread.
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Originally Posted by NJ Brazen_3133
You saying I dont know how anything works. Well that is why I am asking questions here to find out. So please get off your high horse.
People who are asking questions to find things out usually don't start off with generally hostile wording, answering their own questions by making blanket (and incorrect) statements, followed by insulting people who respond to the incorrect statements.
Quote:
Originally Posted by NJ Brazen_3133
Is it just geography and proximity to something that grants this particular site the privilege of being the perfect site? From you first article it seems this is for capital goods made from aluminum. Is there a bauxite mine nearby? It also mentions that beverage packaging, auto, and "common alloys". If these industries are already concentrated right there, then this new plant is hardly news. And with so much industry already there, this plant is hardly the biggest economic project in state's history.
No, there is no bauxite nearby. This is a manufacturing facility, not a smelter. They will receive shipments of aluminum (either ingots from a smelter, or recycled material from other sources), then convert that raw aluminum to finished products. The site was determined to be valuable because of the cheap, flat, land; access to easy shipping (water, rail, truck, air); and existing infrastructure from the other industries in the area.
Quote:
Originally Posted by NJ Brazen_3133
You articles also dont mention the sources of finance. The other poster mention singular lender, so I made some questions based on what he wrote. No need to feel butt hurt over it. If its not a loan, but deferred payment plan that adds up to $2.5bil, then fine. I was only responding to what the other poster wrote. I am assuming he is just going hypothetical situation as well, and does not know the full details, or else he write them.
I haven't seen anything on the source of the finance, nor is it relevant. But it won't be "a" $2.5bil loan, or a deferred payment plan, or anything else like that. It is a plan to invest in the area, and it will occur in stages. One stage will be to spend some money on site improvements such as storm water drainage and roads, and this may actually include some public money because it benefits more than one entity. Then another stage with different funding will get a few structures built and they can finally start fabricating things. Then another stage will extend a rail spur. Then the port expansion.
Maybe these stages are individual loans, maybe they are gold coins from a box buried in someone's back yard. The final stages will hopefully be paid for by the profits from the initial stages.
It appears the company, Steel Industries is already located in the area, and have been for a long time. They are just building another facility nearby. But they are using tax dollars to buy site, and prep it.
I am not sure I call this an "economic development". Its just another expenditure of doing business for this company. They need to spend in order to make more money, and I hope they have good repeat customers to justify the expenditure. It does not say anything about getting a loan or a deferred payment plan. From what I can tell its all out of pocket.
1000 more jobs is great but how much can it spoof the area given there is already some business there? Yet $2.5bil for just a factory that employs 1K. I guess that means we humans are going to have to drink a lot more high fructose corn syrup laced soda pop.
One, who says they are borrowing using US dollars? This could be funded by a Canadian or even Chinese investors. Either way, this entire line of commenting is entirely irrelevant and off topic to the thread.
People who are asking questions to find things out usually don't start off with generally hostile wording, answering their own questions by making blanket (and incorrect) statements, followed by insulting people who respond to the incorrect statements.
No, there is no bauxite nearby. This is a manufacturing facility, not a smelter. They will receive shipments of aluminum (either ingots from a smelter, or recycled material from other sources), then convert that raw aluminum to finished products. The site was determined to be valuable because of the cheap, flat, land; access to easy shipping (water, rail, truck, air); and existing infrastructure from the other industries in the area.
I haven't seen anything on the source of the finance, nor is it relevant. But it won't be "a" $2.5bil loan, or a deferred payment plan, or anything else like that. It is a plan to invest in the area, and it will occur in stages. One stage will be to spend some money on site improvements such as storm water drainage and roads, and this may actually include some public money because it benefits more than one entity. Then another stage with different funding will get a few structures built and they can finally start fabricating things. Then another stage will extend a rail spur. Then the port expansion.
Maybe these stages are individual loans, maybe they are gold coins from a box buried in someone's back yard. The final stages will hopefully be paid for by the profits from the initial stages.
People this is how you know you are dealing with a shill
Some bozo comes in and starts telling you, your hypotheticals are irrelevelant and incorrect eventhough they are simply responses to another poster's own hypotheticals. It isnt presented as facts about the actual subject of the thread. Not much info that isnt vague is even presented about subject, hence side tracked discussion with hypotheticals. Yet, the shill will only target you because you are on opposite side of discussion the shill is not initially involved with.
LOL at "what if they use canadien dollars". I am responding to your, "$40 in my pocket". I am not saying what kind of currency is being used. You lead me down that path. You own responses are irrelevant too. All the details like finance or whether there is any is relevant. What else will you discuss? A shill will want you to just take everything at face value as great, no need to ask.
It appears the company, Steel Industries is already located in the area, and have been for a long time. They are just building another facility nearby. But they are using tax dollars to buy site, and prep it.
I am not sure I call this an "economic development". Its just another expenditure of doing business for this company. They need to spend in order to make more money, and I hope they have good repeat customers to justify the expenditure. It does not say anything about getting a loan or a deferred payment plan. From what I can tell its all out of pocket.
1000 more jobs is great but how much can it spoof the area given there is already some business there? Yet $2.5bil for just a factory that employs 1K. I guess that means we humans are going to have to drink a lot more high fructose corn syrup laced soda pop.
1,000 additional jobs is the definition of economic development. It’s money that gets turned over and reinvested in the local economy. Especially in an area with a total population of about 130K.
Not only that, but the area has a domino effect going on when it comes to higher tech skilled labor.
It appears the company, Steel Industries is already located in the area, and have been for a long time. They are just building another facility nearby. But they are using tax dollars to buy site, and prep it.
I am not sure I call this an "economic development". Its just another expenditure of doing business for this company. They need to spend in order to make more money, and I hope they have good repeat customers to justify the expenditure. It does not say anything about getting a loan or a deferred payment plan. From what I can tell its all out of pocket.
1000 more jobs is great but how much can it spoof the area given there is already some business there? Yet $2.5bil for just a factory that employs 1K. I guess that means we humans are going to have to drink a lot more high fructose corn syrup laced soda pop.
This is almost exactly what I said in my comment above, but you quoted it and called me a "shill"? (Aside: Do shills get paid? By whom, and how much? When should I expect the direct deposit, or will it be cash under the table?)
Your comment and linked article confirm that all your "hypotheticals" were wrong, which is all that I was trying to say earlier. All the rabbit trails and sidetracks were initiated by you.
This is the literal definition of "economic development". It's more than just profits for one company. If this investment goes all the way through, it will create a local demand for more housing, more support businesses (restaurants, entertainment, hardware stores, hairdressers, etc.), better training/schools, improved emergency services, etc.
I'm responding only to you because you were the only one using bad logic to try to say this is a bad thing for some reason. This is amazing news for the area!
I don't get it, either.
I live close to a Toyota plant and see the impact every day. I don't know how many people are employed as a result of Toyota's presence, but it's a bunch. Not only that, but Toyota gives cars to the local trade schools and gives provides money for educating local high school grads so they can qualify themselves to work for Toyota.
True, some investments claims are scams, but not all.
1,000 additional jobs is the definition of economic development. It’s money that gets turned over and reinvested in the local economy. Especially in an area with a total population of about 130K.
Not only that, but the area has a domino effect going on when it comes to higher tech skilled labor.
Ok so for 1K more people coming into the area 9-5pm; are they going to build another Walmart or how many more fast food joints? I dont think so. How many more chiropractors are going to open up? What about entertainment venues? How many more Uber drivers are moving in now? I am sure the entire area has plenty. The 1K extra will just provide slightly more business for them as usual. Most of the new employees likely been in the general 1hr or so vicinity for a long time.
I guess then "economic development" can also mean when close to half of the rich people on the North Shore of LI decide they want to paint their McMansions, and close to the other half have their huge lawns manicured within say the next three years. What is happening with the subject is really just business as usual. Calling it in the headlines, "economic development" gives the impression that the whole area practically void. The subject at hand in this thread is clearly not.
According to my article, the cost of buying the land, and prep work is footed by taxpayers. So from same article that is $2.5 billion the company is paying out of pocket for, I guess, the factory equipment, construction materials (electrical, plumbing) etc etc. Well I am sure all that stuff is coming from outside the area. The owners of the vendors probably live in Billionaire Row in Manhattan. Even if not, and its all coming from instate, then I say Mississippi isnt doing bad right now.
The industry is coming to a part of Mississippi that is better off financially than other parts of the state. If it came to the Delta or Jackson, that would be a huge deal.
The latest information on censusreporter lists the Jackson metro area as the 7-county area that includes Hinds, Rankin, Madison, Copiah, Simpson, Yazoo, and Holmes Counties.
The per capita income comes to right at $30k, or around $31k if just the three main counties around Jackson
In comparison, other areas in Mississippi include:
Greenwood $21k;
Greenville $22k;
Meridian $22k;
Laurel $22k;
Columbus $26k;
State of Mississippi $27k;
Vicksburg $27k;
Oxford $28k;
Gulf Coast $28k;
Tupelo $29k;
Hattiesburg $30k;
DeSoto County $31k;
and Jackson metro (Hinds/Rankin/Madison) $31k.
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