Harrah's and Jimmy Buffet have announced plans for the Margaritaville Casino & Resort in Biloxi. The original project will cost more than $700 million, the largest investment in Mississippi since Katrina, but there are already plans for further development taking the tab over $1 billion.

Margaritaville will be developed on 46 acres of land formerly the site of the Grand Casino and Casino Magic. There will be 378 renovated hotel rooms and 420 new rooms, a spa, a 100,000 square foot casino, about 66,000 square feet of convention space, and a pool area with cabanas, a bar and tropical landscaping. Construction will start this summer and is projected to be completed in spring 2010.

Jimmy Buffet was born in Pascagoula, Mississippi on December 25, 1946, grew up in Mobile, Alabama and says he is looking forward to coming back home to the Gulf Coast.

Cha Ching!

Why do I get the feeling he won't be spending a lot of time there? With his own fleet of planes and a private island I don't think he's as downhome as he tries to protray.