Industries have paid $18 million
The Marshall County Board of Supervisors has touted the Chickasaw Trail Industrial Park since its opening for bringing in new taxes and jobs, jobs, jobs.
A summary of revenues, coming from industries in the park, has been provided by tax assessor Juanita Dillard, tax collector Betty Byrd and Susie Hill with the chancery clerk’s office. All total, taxes paid as fee in lieu or as ad valorem taxes by the big industries in the park come to about $18 million.
Two industries, Roxul and Rockfon (Rockwool), have fee-in-lieu agreements with the county and send their payments to the chancery clerk’s office to be deposited into the general fund, according to Hill.
Three other industries also send their checks to the chancery clerk’s office with a total payout to the county of $7,407,728.
The breakout includes:
• Roxul — three years on the tax roll at a total of $6,441,551.
• Rockfon — two years on the tax roll at $765,255.
• Niagara — two years at $36,752.
• McCormick — one year at $84,966.
• Cooper Tire — one year at $79,204. Seven industries have paid real and personal taxes and school taxes that combined total $11,052,496.63, according to figures provided by the tax offices.
Of that, $3,119,864.12 is paid to the county general fund and $7,932,632.52 is for taxes for the county school district.
A break-out of these taxes show the following:
• Exel/Carrier paid $3,321,762.84 to the county. That’s for 15 years on the tax roll.
• ASICS paid $3,472,323.53 and has been on the tax roll for nine years.
• Volvo paid $1,610,068.05 and has been on the tax roll for six years.
• Post, on the tax roll five years, has paid $835,119.18.
• Niagara has paid $842,301.60 and has been on the tax roll three years.
• McCormick Foods has paid $515,839.89 and has been on the tax roll three years.
• Cooper Tire paid $455,081.54 and has been on the tax roll one year
Nike and The Design Group are two of the latest industries to move to the park.
“That’s a pretty good number, $18 million,” said Justin Hall, executive director of the Marshall County Industrial Development Authority. “The capital investment and taxes generated by these industries will have a positive impact on the economy of Marshall County for many decades.”
He said the fee-in-lieu is historically available to a company that meets the threshold of a $100 million investment in the county. But, the Mississippi Legislature in 2018 approved lowering the threshold to $60 million, provided the agreement is mutually approved by the Mississippi Development Authority and the local taxing district.
The fee-in-lieu is a negotiated tax payment similar to the ad valorem tax exemptions, Hall said.
As far as new industrial jobs, Hall said direct new jobs are slightly north of 4,000.
“That’s a good number, too, he said. “These industries are providing great career opportunities for Marshall County.”
Byrd said the money generated for the school district - $7.9 million - is meaningful to the ordinary taxpayers of the county.
“That’s money, had those industries not been here, that the taxpayer would have had to make up,” she said.