Compass Meridian, Mississippi

FJI source-qualified: four-document gate met, including project-specific government evidence. Qualification evidence and decisions →

Project status: construction underway; whole-campus operation not established. Capacity scope: Nearly 500 MW utility agreement; planned eight 40 MW IT buildings, not operating load. How we verify evidence.

Compare this project → · Track its catalysts →

Approximate locality marker. Construction-stage classification does not mean every planned phase is permitted, energized or serving customers.

Investment takeaway

Compass offers a private wholesale-development route into Mississippi compute demand. A long-term utility agreement and reporting of work on the first two buildings support construction-stage coverage. These milestones do not establish occupied capacity or investment returns.

Site and development scope

The campus is in Meridian’s I-20/59 Industrial Park, Lauderdale County. Plans describe eight single-tenant buildings developed over eight years. Use a locality marker near Meridian rather than an exact parcel centroid.

Power and capacity

Mississippi Power says it signed a nearly 500 MW long-term agreement. Separately, Compass told DCD each planned building would provide 40 MW of IT capacity. Utility service capacity and IT capacity are different measures; neither is verified operating load.

Capital and financing

The announced $10 billion investment includes future tenants’ IT equipment and full campus fitout. It is not Compass-only construction spending. Project-specific financing commitments, loan closure, lease economics and expected returns were not established.

Demand and customer evidence

MDA announced Corderill LLC as a tenant on April 22, 2026, with at least $100 million planned equipment investment and 20 jobs. This supports an identified tenant role, but does not establish computing delivery, an ultimate hyperscaler customer or customer equipment installed.

Company economic roles

Compass develops and operates single-tenant campuses; Corderill is an announced tenant and equipment investor. Mississippi Power provides utility service. State and local bodies support incentives and site infrastructure. No project-specific GPU or other vendor contracts were established.

Milestones and readiness

The project was announced January 9, 2025; WTOK covered the January 28 groundbreaking. July 21, 2026 reporting described work on the first two buildings and a first-building target near year-end 2026. Classify construction underway; the target is not completion or occupancy evidence.

Government evidence

MDA’s April 22, 2026 record says Corderill’s incentive was approved based on expected employment. Incentive certification does not establish construction completion. Campus building and environmental permit identifiers, legal applicants and utility docket conditions were not established in this audit.

Risks and unknowns

Phased customer demand, tenant fitout, utility commissioning, construction labor and equipment delivery can alter the schedule. Contract quantities delivered, tariff obligations, signed leases, occupancy and project financing remain insufficiently disclosed.

What would change the assessment

A verified occupancy or commissioning record, delivered utility service, disclosed customer activation and project financing would strengthen readiness. An amended service arrangement, construction delay or evidence of reduced tenant demand would warrant reassessment.

Coverage and scope

Adds private wholesale operator diversity in Mississippi beyond AWS. One Compass Meridian campus; first two buildings under construction, later buildings remain planned.

Financial significance and assumptions

The announced $10 billion investment includes future tenants’ IT equipment and full campus fitout. It is not Compass-only construction spending. Project-specific financing commitments, loan closure, lease economics and expected returns were not established.

Our analysis: construction can precede customer billing and cash returns. No utilization, pricing, margin or project earnings model is assumed. Investment plans, financing facilities and money spent are different quantities.

Listed company connections

• SO: Mississippi Power utility parent; service economics are not campus compute revenue.

Government record audit

Mississippi Development Authority · Record / evidence ↗. Reviewed October 7, 2026.

Identifier

not established

Record type

Tenant incentive announcement

Applicant / entity

Corderill LLC

Filed

not established

Decision

not separately established

Status

Incentive approval reported by MDA

Phase scope

Tenant equipment investment and employment incentive, not whole-campus permit

Conditions / limits

Employment expectation; full incentive instrument not retrieved. Campus permit identifiers not established.

Source basis and claim audit

6 distinct reviewed documents. Primary evidence and independent reporting are identified below; syndicated releases count once. Sources establish only the stated claim, not whole-campus completion.

1. Mississippi Power ↗ · Primary evidence. Published not displayed; event not separately established; reviewed October 7, 2026.

   Signed nearly 500MW long-term agreement; eight buildings/eight years; investment includes tenant IT; industrial-park substation and water/sewer/site grants described. Agreement terms, commissioning dates, full campus energization not disclosed.

2. Compass Datacenters / Mississippi Development Authority release ↗ · Primary evidence. Published 2025-01-09; event not separately established; reviewed October 7, 2026.

   Reproduces MDA statement, count as this underlying release once. MDA site assistance/operator certification plans; local shovel-ready infrastructure; $10B future occupied value. Contemporary ownership statement says Brookfield Infrastructure/Ontario Teachers/KKR backing, but obtain ownership-specific source if material.

3. Mississippi Development Authority ↗ · Government record. Published 2026-04-22; event not separately established; reviewed October 7, 2026.

   Corderill LLC announced as tenant, ≥$100M planned data equipment investment, ≥20 jobs. MDA approved Data Center Incentive conditional on expected employment. No GPU/hyperscaler ultimate customer identity or operational delivery established; do not guess Corderill's ultimate owner.

4. DatacenterDynamics ↗ · Independent reporting. Published 2025-02-04; event not separately established; reviewed October 7, 2026.

   Compass told DCD each planned building 250,000 sqft/40MW IT. Eight-building construction plan, $10B total includes tenant equipment. This is company-reported plan, not installed computing.

5. WTOK ↗ · Independent reporting. Published 2025-01-28; event not separately established; reviewed October 7, 2026.

   Onsite groundbreaking, site near interstate corridors next to Southern Pipe and Supply; single-tenant developer model explained by Compass VP.

6. WTOK ↗ · Independent reporting. Published 2026-07-21; event not separately established; reviewed October 7, 2026.

   Work begun first two buildings; first building anticipated end2026 (reported target ONLY); construction onsite, count attributed local release >1050 workers. No operation/occupancy certificate.

Permanent project profile →