Corporate investments across Mississippi fueling job growth and driving local, state economy

Almost $1.3 billion invested in Mississippi for superior manufacturing, distributing, logistics, automotive, and extra to this point in 2022, MDA studies.

Even because the U.S. financial system continues to wrestle, Mississippi is celebrating a strong effort to extend alternative within the state by attracting and retaining top quality jobs by strategic company investments in a state with a low price of dwelling and top quality of life.

Almost $1.3 billion in company investments have been introduced in 2022 to this point.  That follows roughly $486 million in 2021 and over $1.5 billion in 2020.

Mississippi Improvement Authority Deputy Govt Director Laura Hipp just lately spoke with Y’all Politics about financial investments in Mississippi earlier than, throughout and after the pandemic.

Hipp stated that MDA has remained constant of their efforts to generate new investments in communities all through the state, even amidst the disruption of COVID.

“The MDA crew and native financial builders remained targeted on getting companies and industries invested in Mississippi,” Hipp stated.  “Investments into Mississippi’s cities inject new capital into native economies, which in flip builds extra vibrant communities and improves the standard of life for Mississippians. In addition they contribute to the academic and monetary progress of Mississippi’s residents.”

Over the course of this 12 months, greater than 1,520 new jobs have been introduced in Mississippi to this point.  Add that to the 4,149 new jobs introduced in 2021 and the over 4,400 in 2020, and the state’s job prospects are vibrant.

“In 2020, we had 36 company investments including 4,485 jobs. In 2021, we had 40 company investments including 4,149 jobs. In 2022, we’ve got already had 17 company investments including 1,522 jobs, and we look ahead to saying extra financial improvement wins earlier than the finish of the 12 months,” Hipp continued.

These new alternatives will strengthen the native tax base and assist construct extra vibrant communities all through the state.  MDA says the investments in superior manufacturing, distribution, logistics, automotive, agribusiness and aerospace have been robust in Mississippi throughout the 2020-2022 timeline.

For instance: Terberg Taylor Americas Group is finding terminal tractor manufacturing operations within the Golden Triangle, highlighting Mississippi’s automobile manufacturing skills, and Walmart’s $90 million funding in DeSoto County for a brand new distribution middle illustrates Mississippi’s nice location with quick access to markets within the Southeast and across the nation and world.

This 12 months, MDA has introduced a number of tasks which can be making important impacts on not solely the state, however native communities as nicely.

“Development is ongoing for Altex Tube firm in Columbus. That undertaking is a $110 million funding that’s including 58 well-paying jobs within the Golden Triangle Area. Dunn Utility Merchandise is a home-grown firm whose $23.3 million enlargement is including 30 jobs to the financial system. This undertaking is a sterling instance of the long-term success Mississippi-based corporations get pleasure from in our state,” Hipp said.

“Nissan’s $500 million funding and upskilling of two,000 workers to start manufacturing of electrical autos in Canton and the opening of Amazon’s state-of-the-art robotics facility – additionally in Madison County – are two corporations which have put Mississippi within the international highlight this 12 months – showcasing the truth that Mississippi is a high location for a few of the world’s most well-known trade leaders,” Hipp added.

Mississippi’s financial system has grown regardless of the pandemic, with state revenues constantly outpacing price range estimates.  The overall curiosity in Mississippi’s pro-business atmosphere and robust, devoted workforce has considerably elevated.

“I feel the curiosity in Mississippi has grown not solely from the MDA crew’s arduous work but additionally from companies recognizing there may be loads of untapped potential in Mississippi upon which they will capitalize and efficiently compete in at the moment’s dynamic financial system,” the MDA Deputy Govt Director stated.

Hipp added that the assist of Mississippi Governor Tate Reeves and the Mississippi Legislature has contributed drastically to the expansion of the state’s financial system.

“Their proactive measures – similar to investing in website improvement and serving to develop a next-generation workforce – are also initiatives which can be interesting to corporations seeking to find or develop in Mississippi,” she defined.

When requested what makes Mississippi interesting for companies, Hipp stated that the inspiration of the state’s financial progress features a robust enterprise local weather, a devoted and expert workforce, instructional innovation, and cultural experiences that can’t be discovered anyplace else.

“Mississippi has a ‘no crimson tape’ means of doing enterprise with an environment friendly regulatory atmosphere and low price of doing enterprise. Our state presents the lowest price of dwelling of any state, in accordance with the Council for Neighborhood and Financial Analysis,” Hipp defined. “With inflation taking place throughout the U.S. and world wide, our low price of dwelling is definitely a horny attribute as we glance to the long run.”