So this morning I was on my way to work and while sitting at the light I hear this loud noise coming from the front passenger side of the car. Then I notice some white smoke coming from under the car and hood in that location. I turned off the A/C and the smoking stopped and the noise got quieter, but still noticeable. I went on to work. No lights came on or anything and the temperature guage was normal.

Any ideas what this could be?

It is a 2006 Mazda 3s with 2.3 liter engine, manual transmission. It has about 55,000 miles on it.

 

could be a bad A/C clutch, if that was slipping ot could smoke. you could also have a bad pump or a leak. It could be a worn belt / belt tensioner, and when the A/C turns on the belt is slipping.
I'd suggest running the car and verify that the noise is from where you think. Also cycle the A/C and see if the pulley is turning ok, and if you get cold air.