Apr 11, 2013
CANTON — A large patch of land here that’s served as a local family’s cattle farm, the site of innumerable hunting and fishing trips and even a wedding could become the next site in Mississippi to land a large employer that could bring thousands of jobs to the area.
Entergy Mississippi has qualified some 1,076 acres owned by the Walker family near the Nissan manufacturing plant in Canton as a “megasite” that will be marketed to large companies looking for the right kind of land to build on. Such sites typically feature at least 1,000 acres of open land, available utilities and immediate access to major highways.
The Canton megasite is named Panther Creek Commerce Center and features parcels of up to 600 contiguous acres. It’s located just off Mississippi 22 near Nissan Parkway.
Some of Mississippi’s major employers, including Toyota, Severstal and Paccar, were built on megasites.
“I think we have the best site in the Southeast. We’ve got the labor force,” said Tim Coursey, executive director of the Madison County Economic Development Authority. “We’re not competing just with other states anymore. We’re competing with the entire globe. If you want to compete for the high-paying jobs, you need to have a large tract of land” for development.
The Walker family bought the land in the mid-1970s, when it was being used as a cotton farm. Cattle were added, and agricultural operations have continued there through the years. It holds deep meaning for the family, with Gloria Walker recalling her daughter’s idyllic wedding on the sprawling property and the way the expanse of green would transform every summer into a sea of sunflowers.
But she says she’s ready for the land to have the kind of use that can benefit the region and bring thousands of jobs to Madison County.
“I said, ‘God, please let this land go to (someone) who will bring glory to him,” she said, her voice cracking.
In this case, the interest and team approach from Entergy Mississippi, MCEDA and the Mississippi Development Authority in the site as a potential jobs-creator got the family’s attention, said Will Walker, Gloria’s son.
Coursey said the property has gotten interest in the past from developers, and that a mixed-use development was taking shape there a few years ago until the developer pulled out as the recession set in. He says Nissan being a couple of miles from the site means utilities are already available, reducing future development costs. A labor force of more than 300,000 people in a 60-mile radius is essential, too, he said.
The Walker family will continue to own the land until a tenant is identified for the site, at which time the property will be formally sold. A rezoning of the land from agricultural to industrial use is pending.
Entergy has one other megasite, in Tunica County. There are a number of Tennessee Valley Authority-certified megasites in northern Mississippi.
Entergy doesn’t set out minimum acreage requirements for its megasites, since less acreage than what Panther Creek offers often makes more sense in rural areas or smaller cities.
But the company typically wants such land to be publicly owned or to have a public-ownership option, available infrastructure, identified infrastructure improvement needs and a detailed development plan.
“If you don’t have marketable sites, you’re not going to get looked at,” said Entergy Mississippi president Haley Fisackerly.
An environmental assessment turned up no major issues, Coursey said.
CBRE Memphis real estate firm will broker the property from its Jackson-area offices.
