Mississippi News
Steel Dynamics receives major incentives deal
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
Death toll from catastrophic Texas flooding passes 100
SUMMARY: Catastrophic flooding in Texas over the July Fourth weekend killed at least 104 people, including 28 children, mostly near Camp Mystic, a century-old girls’ summer camp in Kerr County. Search-and-rescue teams continue to search swollen rivers for dozens still missing; officials expect the death toll to rise as more rain threatens the saturated area. Many victims were swept from cabins by flash floods early Friday, some clinging to trees. Authorities will investigate warnings and evacuation delays, noting poor cellphone service hindered alerts. Despite warnings issued before the flood, some residents didn’t receive them. President Trump plans to visit the state.
The post Death toll from catastrophic Texas flooding passes 100 appeared first on www.wjtv.com
Mississippi News
LIVE: Officials give updates on Texas floods
SUMMARY: Crews in central Texas continue searching for victims after catastrophic July Fourth weekend flooding killed over 80 people, including 27 campers and counselors at Camp Mystic along the Guadalupe River. The floods, some of the worst in decades, struck overnight, sweeping away tents and cabins. With more rain forecast, authorities warn the death toll may rise as many remain missing. Survivors described clinging to trees or fleeing to attics. Officials face scrutiny over flood warnings and emergency response. President Trump declared Kerr County a disaster area, pledging support while criticizing FEMA’s performance.
The post LIVE: Officials give updates on Texas floods appeared first on www.wjtv.com
Mississippi News
Texas floods: At least 51 dead, 27 girls still missing as search efforts continue
SUMMARY: A devastating flash flood struck a summer camp along Texas’ Guadalupe River, killing at least 51 people, including 15 children, with many missing, mainly from Camp Mystic. The floodwaters surged 26 feet in 45 minutes early Friday, washing away homes and vehicles. Rescue teams face challenging terrain, using helicopters, boats, and drones to search for survivors amid debris and broken trees. Authorities are scrutinized for potential warning and preparation failures. Gov. Greg Abbott declared a day of prayer, while rescue and recovery efforts continue amid fears of additional flooding. The Hill Country’s flood-prone terrain and unexpected downpour overwhelmed campers and residents, prompting widespread grief and appeals for support.
The post Texas floods: At least 51 dead, 27 girls still missing as search efforts continue appeared first on www.wjtv.com
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