Two major economic development announcements on horizon for Rankin County

Economic development in Rankin County could have a record year if all goes according to plan.

As of now, Rankin First, the economic development arm for the county, is working on several projects that could be announced by the end of 2024. At least two of those may make a decision during the first two quarters of 2023, according to Rankin First executive director Tom Troxler.

In 2023, Rankin County had significant growth and finished the year with the lowest unemployment rate in the state of Mississippi.

It continues to hang its hat on expansion of the health care industry in the area, including at Mississippi Sports Medicine, Jackson Heart and others.

Troxler said that historically 80% of new business comes from existing customers and that making sure companies and businesses already in place have the ability to expand and grow.

"The medical parkway and the medical business has really been a plus for our county," Troxler said. "There are also a couple of other large medical projects on the horizon that I, unfortunately, can't mention specifically at the moment that we look forward to announcing at some point in 2024."

Troxler also said he expects exponential growth along the East Metro Parkway, which runs from Lakeland Drive in Flowood to Interstate-20 in Pearl, which opened last month.

He said the county has been able to acquire 200 acres of land for industrial projects in 2024. He also said he would like to attract a "distribution-type plant" with a spec building in an industrial park in Rankin County.

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"The Red Tiger Group out of Cincinnati is still in the process of doing what they need to do. It is still on go," Troxler said. "As for the industrial park, the Mississippi National Guard is nearly complete with their intermodal repair facility. It is a beautiful new facility that I expect to be opening in early Spring."

Troxler also said the Rankin First had recently been approved for an Mississippi Development Authority site development program grant worth $700,000 for the industrial park.

The biggest news, however, is the news that hasn't happened yet. Troxler said Rankin First has signed non-disclosure agreements on "two very large projects" for 2024.

"You never really know how those are going to go," Troxler said. "But those are looking and kicking tires enough that we have signed the non-disclosure agreements."

Both projects would be in excess of $500 million.

Rankin County's unemployment rate, which was 1.9% in December, is a blessing and a curse.

"Honestly, some big companies that want to move here that want to employ 2,500-3,000 people might look else where because of how few people we have looking for jobs," Troxler said. "So, that's why we're looking to improve the jobs and the companies that we already have and continue to bring in jobs related to the medical industry, which we have been blessed to grow the last few years."

Medical industry jobs bring salaries of around $100,00 a year, which helps Troxler and others recruit people to move into the county from other places, which, in turn, helps schools, the tax base and the real estate community.

Despite that, he said there will be four projects, two expansions and two new projects, that will happen by the end of the spring that will bring as many as 700 new jobs to the area.

"When all is said and done, I think a lot of these businesses and companies know that even though we have the lowest unemployment rate in Mississippi, people are willing to drive from other places to work here," Troxler said. "We have made Rankin County a great place for companies to locate and the legislature has helped us in every way possible to make good on promises."

In recognizing Thursday's finalizing of a legislative special session for $350 million in financial incentives for a $1.9 billion project in Marshall County, Troxler said Rankin First is working to find 500 to 1,000 acres of land that has significant infrastructure.

"When we are able to close on that, we will be able to better compete on that type of level as well," Troxler said.

Ross Reily can be reached by email at rreily@gannett.com or 601-573-2952. You can follow him on the X platform, formerly known as Twitter @GreenOkra1.

This article originally appeared on Mississippi Clarion Ledger: What projects are on tap for Rankin County economic development?