Batesville is soon to experience significant economic growth, with the groundbreaking ceremony for a major new shopping center scheduled for Wednesday.

The development is expected to generate at least 300 new jobs and $50 million in total investments, marking a pivotal moment for the city’s retail and economic expansion.

Joe Azar, CEO of Panola Partnership, said the annual economic impact on the community is estimated to be around $25 million.

“The majority of tax revenues produced will initially go back to the project, but the balance will soon exceed the community’s investment in this magnificent retail development,” Azar said.

The 32-acre shopping center, located in the Covenant Crossing area off I-55, will feature big-name national retailers  Hobby Lobby, Five Below, Ulta Beauty, TJ Maxx, Ross, and Academy Sports + Outdoors.

Restaurants that will locate at the development, some pending final leases, are Whataburger, Starbucks, Longhorn, and Chick-fil-A.  A rendering of the project, provided by the Partnership office, is printed on Page 10 of this edition.

Azar emphasized Batesville’s strategic location as a key driver of the project.

“We are the preferred stop off I-55 in north Mississippi, offering clean restrooms, safe and well-lit spaces, and a wide variety of food options. Now we can add shopping options,” he said. “What makes Batesville attractive to these fine retailers and developers is our shopping area size and traffic counts. We believe this development and the needs of their new employees will attract and increase sales at our local businesses, so please continue to support them.”

One of the most exciting things about this development, Azar said,  is the timing as developers plan to open in October of 2025 – in time for next year’s Christmas shopping season.

The development is funded through Tax Increment Financing (TIF), a tool that allows investors — in this case, Noon Real Estate, LLC — to recoup their initial outlay through the city and county’s portion of sales and property taxes for a set period.

The shopping center is on track to open in October 2025, just in time for the Christmas shopping season. Local officials are optimistic about additional growth stemming from the development, including a nearby sports complex and other retail opportunities.

 “This became a reality because our city and county leadership embraced the project from day one and never wavered at any obstacles,” he said.

The Panola Partnership, which has spearheaded years of retail recruitment efforts, views the shopping center as a cornerstone of renewed business development in Batesville. With five additional restaurants planned around the area and a lineup of high-demand retailers, the city is well-positioned to become a prime shopping and dining destination for north Mississippi 

Kevin Jennings, president of Noon Real Estate Group, said Panola Partnership was part of project facilitation from beginning to end.

“In today’s environment, it’s very difficult to build projects without public/private partnerships and Panola Partnership played an integral role in coordinating both the city and county and then my side, the provider/developer side, to establish a public/private partnership that facilitated the development,” Jennings said.

Jennings said folks should start seeing vertical construction late in the first quarter, or early in the second quarter of 2025.

 Azar also emphasized the shopping center is really “just a beginning” for Batesville, predicting that the addition of a major sportsplex designed to host competitive baseball and softball travel tournaments will further grow retail development at the site.

“There are a couple of spots open now and we are already talking to major retailers and restaurants about locating next to the entrance of the sportsplex,” he said. “We are really wanting to have a sports bar type business sitting out there.”