BancorpSouth Bank (NYSE: BXS) is increasing capacity at its Jackson Street Campus in Tupelo to accommodate the company's rapid growth. The project represents a corporate investment of more than $15 million and will create 100 jobs.
"Tupelo and the North Mississippi region have experienced significant job gains and new capital investment in recent years," Gov. Phil Bryant said. "BancorpSouth's expansion and addition of 100 new jobs continue that momentum while demonstrating the company's faith in the area's workforce and commitment to the Tupelo community."
BancorpSouth's Jackson Street Campus is designated as a data and information processing center by the Mississippi Development Authority (MDA). It houses the bank's core data infrastructure, including its mainframe hardware and software, open system server and network routing systems. The campus' employees perform customer accounting, payment and information processing.
"This latest investment exemplifies our long-term commitment to the state of Mississippi and Tupelo and its sustainable economic growth. We're pleased to be able to bring additional jobs to the area, which will help us with our continued efforts to serve the community and meet the financial needs of our customers," said BancorpSouth Chairman and CEO Dan Rollins.
MDA and the city of Tupelo are providing assistance to extend a road in front of the BancorpSouth facility. The company also qualifies for the Advantage Jobs Rebate program, which provides a rebate to eligible businesses that create jobs that meet or exceed the average annual wage of the state or county in which the company operates.
"BancorpSouth's decision to expand its data and information processing center in Tupelo is evidence that the North Mississippi region is the place with capable people enabling industry leaders to achieve their goals in our state," said MDA Executive Director Glenn McCullough, Jr. "We salute the teamwork of the Community Development Foundation, the city of Tupelo and the Lee County Board of Supervisors, which, together with MDA, played an integral role in attracting this capital investment, creating 100 new career opportunities for the people of Lee County."
Headquartered in Tupelo, BancorpSouth employs more than 4,500 people in eight states. Approximately 1,000 of those are employed in Tupelo with 717 employed at the Jackson Street Campus.