BILOXI, MS (WLOX) - Margaritaville will build a new hotel and an amusement park immediately west of its east Biloxi property and on land it controls on the north side of Highway 90.
Hotel developers expect that work to take two-and-half years. The expansion will create 600 new jobs.
Under the terms of a settlement with the Secretary of State's Office, Margaritaville will pay the state $655,000 a year for a tidelands lease.
Last week, the Biloxi City Council and the Biloxi School Board each voted to dismiss a lawsuit against Secretary of State Delbert Hosemann over tidelands payments. The lawsuit came after Hosemann told Margaritaville developers they needed a tidelands lease to expand north of Highway 90. The two sides disagreed on how much land should be covered by tidelands leases.
Harrison County supervisors must still sign off on dismissing the lawsuit. That should happen at the July 2nd meeting.
Hosemann said the settlement is good news for everyone.
"At a proposed $140 million investment, including hundreds of new jobs, the leasing of State-owned tidelands properties for Margaritaville – Phase II is excellent news for Biloxi, the Mississippi Gulf Coast, and the State," Hosemann said. "This development should produce millions of dollars for the Tidelands Fund — all of which is spent on the Coast. The project will be another great reason for citizens all over the State and visitors to spend one more day on our Mississippi Gulf Coast."
Gov. Bryant was also at Tuesday's announcement in Biloxi, and seemed quite pleased with the Margaritaville expansion. "We need more families on the Mississippi Gulf Coast," said Bryant. "I look at this and just can't wait to be there."