[ad_1]
Amazon.com Inc. (NASDAQ:AMZN) will significantly expand the state of Mississippi with a $10 billion investment by Amazon Web Services (AWS) to build two data center complexes, the most significant capital investment in the state’s history. Announcing an expansion.
The project, in partnership with the Madison County Economic Development Authority, aims to create at least 1,000 new jobs and boost Mississippi’s technology sector and GDP.
AWS Economic Development Director Roger Wehner emphasized that this investment has the potential to create good-paying jobs and new opportunities for the region.
Amazon recently named John Felton to replace Richard Puccio as the new AWS CFO who will oversee Amazon’s cloud division.
Also read: Amazon’s AWS pushes the boundaries of AI with new chips and Nvidia partnership
Amazon’s commitment to Mississippi extends beyond this project, with investments totaling $2.3 billion since 2010.
These include infrastructure projects, renewable energy initiatives such as the state’s first utility-scale wind farm in Tunica County, and the location of a Whole Foods Market.
The wind farm alone could create nearly 300 jobs at peak construction and bring in significant tax revenue.
Overall, Amazon’s presence in Mississippi creates 7,500 direct jobs and supports an additional 9,000 indirect jobs while supporting more than 1,000 independent sellers in the state.
The company’s efforts are focused on supporting local jobs, economic growth, education, and providing opportunities for small businesses.
Earlier this month, AWS announced plans to invest nearly 2.3 trillion yen ($15.5 billion) in Japan between 2023 and 2027 to grow data centers and strengthen business operations.
The investment in Japan will exceed the 1.56 trillion rupees ($12.7 billion) AWS has allocated for India.
In the second quarter of 2023, Amazon had a dominant market share of 32%. Microsoft Corporation (NASDAQ:MSFT), 22% of Azure; Alphabet Co., Ltd. (NASDAQ:GOOG) (NASDAQ:GOOGL) 11% of Google Cloud.
Price action: AMZN stock was up 0.54% pre-market at $158.60 at last check Friday.
Also read: Battle in the clouds: How Amazon and Google’s claims will change Microsoft’s strategy
Disclaimer: This content is created in part using AI tools, and reviewed and published by Benzinga editors.
Photo via company
“The Active Investor’s Secret Weapon” Step up your stock market game with the #1 News & Everything else trading tool: Benzinga Pro – Click here to start your 14-day trial now!
Want the latest stock analysis from Benzinga?
The article Amazon Cloud Division AWS Invests $10 Billion in Mississippi, Reaches Major Technology Expansion Milestone originally appeared on Benzinga.com
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
[ad_2]
Source link
