Biggest economic development project in MS history coming to Golden Triangle.... (Jackson: loans, how much)

[Listener2307]

Originally Posted by NJ Brazen_3133

............someone somewhere decides to throw $2.5 bill of our fiat from thin air currency into this place just some businesses will want to move in? And perhaps maybe a slight chance they will hire people in the area.

If someone has $2.5 bill of imaginary fiat currency to throw here, why not just take all the poor in those areas, and move them away?.............

You are evidently of the belief that a government entity has given $2.5 billion to someone.
They have not.
Someone wanted to build a facility. So that someone found a site they preferred and went to a lending institution and borrowed the 2.5 billion. That 2.5 billion will be spent building and operating a facility of some sort which will (hopefully) make a profit. The lender will be paid back, the investor will make a profit, employees will be paid and everyone will be happy.


Usually, there are concessions of some sort regarding taxes or something like that but the money was certainly not given away.
In other words, it never was "your" money. So get off your high horse.

[Mississippi Alabama Line]

Originally Posted by Suesbal

Just another scheme to fatten the wallets of a few well-connected people. All legal, of course.

Total BS. You know nothing about economic development. This standard operating procedure for the whole country.

[Suesbal]

Originally Posted by Mississippi Alabama Line

Total BS. You know nothing about economic development. This standard operating procedure for the whole country.

It’s called crony capitalism.

[RocketDawg]

Any word on what the new development will be? Perhaps another auto manufacturing facility? A chip manufacturing facility? Something to support the Columbus Air Force Base?

[brickpatio2018]

I believe it's the steel plant by the airport, so right in between all three cities

[brickpatio2018]

They are making some kind of high-tech aluminum, for car plants and such. I think I read it might be some kind of environmental-related aluminum, the latest technology etc.

My first thought was the $5 billion Ford plant in rural west Tennessee that will be making electric cars. Mississippi is well positioned to have suppliers to that plant which is just I want to say 45 minutes or so from Olive Branch and maybe two hours from Tupelo.

[An Einnseanair]

It's an complex of several developments. It will be a huge aluminum processing facility and mill campus, a renewable biocarbon facility, a "future project", and a port expansion. It's being developed by the same people who own the steel mill that's already there. It'll be just east of Artesia, south-west of and directly adjacent to the GTR Airport. Shipping by rail and truck will be easy from there, but I'm curious how they'll get to the port. The current port is tiny, so an expansion is welcome. Both raw material and finished products will be shipped by rail and truck.

Dispatch Article: https://cdispatch.com/featured/2022-...lden-triangle/

WTVA: https://www.wtva.com/news/the-triple...93b75ecf8.html

I'm confident 4-County EPA's rollout of fiber internet to all customers in the area played at least a small part in the decision.

[NJ Brazen_3133]

Originally Posted by Listener2307

You are evidently of the belief that a government entity has given $2.5 billion to someone.
They have not.
Someone wanted to build a facility. So that someone found a site they preferred and went to a lending institution and borrowed the 2.5 billion. That 2.5 billion will be spent building and operating a facility of some sort which will (hopefully) make a profit. The lender will be paid back, the investor will make a profit, employees will be paid and everyone will be happy.


Usually, there are concessions of some sort regarding taxes or something like that but the money was certainly not given away.
In other words, it never was "your" money. So get off your high horse.

I did not say govt entity. How you get to that conclusion? I never said it is "my" money. It is the nation's. This $2.5bil is it straight from the lending companies own account? Meaning, this lending institution will be short $2.5bill until it gets paid back, and if it does get paid back. What is guarantee this project pans out and will make enough?

Why am I on a high horse? You must be projecting. Would this venture even be worthwhile if no tax breaks given assuming that is what you refer to? Either way if tax break are given, and they still getting same services, then is same as using taxpayer funds.

[An Einnseanair]

Originally Posted by NJ Brazen_3133

I did not say govt entity. How you get to that conclusion? I never said it is "my" money. It is the nation's. This $2.5bil is it straight from the lending companies own account? Meaning, this lending institution will be short $2.5bill until it gets paid back, and if it does get paid back. What is guarantee this project pans out and will make enough?

Why am I on a high horse? You must be projecting. Would this venture even be worthwhile if no tax breaks given assuming that is what you refer to? Either way if tax break are given, and they still getting same services, then is same as using taxpayer funds.

You apparently have no idea how anything works. None of your statements are fully true, and none questions are really applicable. Some don't even make sense.

• It isn't "the nation's" money, it is private money. Unless you consider all US dollars to be "the nation's" money, including the $40 in my pocket right now.
• No one is moving $2.5bil all at once. Someone is proposing a large development where the total cost to create it might eventually add up to as much as $2.5bil.
• Even if it were all borrowed and sitting in someone's checking account today (it won't be... it would be a letter of credit, not an actual "loan"), it wouldn't be from a single source. These deals are put together with multiple funding sources. No one will be "short" $2.5bil.
• There is no guarantee the project will "pan out". There is risk with any investment.
• No one is projecting here. We're just trying to figure out what you're talking about.
• The last sentence is at least partially true, but only barely. The MS legislature approved a small amount of funds for improvements to the area and a small tax break. So in that way the development will "use" some taxpayer funds, eventually, but it actually wasn't very much considering. But they aren't getting paid up front with taxpayer money. They'll only get the benefit if they make a profit which would otherwise be taxable.

[NJ Brazen_3133]

Originally Posted by An Einnseanair

It's an complex of several developments. It will be a huge aluminum processing facility and mill campus, a renewable biocarbon facility, a "future project", and a port expansion. It's being developed by the same people who own the steel mill that's already there. It'll be just east of Artesia, south-west of and directly adjacent to the GTR Airport. Shipping by rail and truck will be easy from there, but I'm curious how they'll get to the port. The current port is tiny, so an expansion is welcome. Both raw material and finished products will be shipped by rail and truck.

Dispatch Article: https://cdispatch.com/featured/2022-...lden-triangle/

WTVA: https://www.wtva.com/news/the-triple...93b75ecf8.html

I'm confident 4-County EPA's rollout of fiber internet to all customers in the area played at least a small part in the decision.

Originally Posted by An Einnseanair

You apparently have no idea how anything works. None of your statements are fully true, and none questions are really applicable. Some don't even make sense.

• It isn't "the nation's" money, it is private money. Unless you consider all US dollars to be "the nation's" money, including the $40 in my pocket right now.
• No one is moving $2.5bil all at once. Someone is proposing a large development where the total cost to create it might eventually add up to as much as $2.5bil.
• Even if it were all borrowed and sitting in someone's checking account today (it won't be... it would be a letter of credit, not an actual "loan"), it wouldn't be from a single source. These deals are put together with multiple funding sources. No one will be "short" $2.5bil.
• There is no guarantee the project will "pan out". There is risk with any investment.
• No one is projecting here. We're just trying to figure out what you're talking about.
• The last sentence is at least partially true, but only barely. The MS legislature approved a small amount of funds for improvements to the area and a small tax break. So in that way the development will "use" some taxpayer funds, eventually, but it actually wasn't very much considering. But they aren't getting paid up front with taxpayer money. They'll only get the benefit if they make a profit which would otherwise be taxable.

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. But I guess with our system, some people can cheat that and obtain more wealth than they should.

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. 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.

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.