CEO Guide to Site Selection

#38

Mississippi

CEO Rank on Best & Worst States for Business

MOVING UP IN THE MAGNOLIA STATE

Based on its gross domestic product, Mississippi’s economy was on track in 2021 to expand at the fastest pace since 1994. State economists noted growth was driven by an infusion of federal funds and pent-up demand for retail products and services. Yet while consumers and consumer goods rebounded in 2021, so too did economic development in the state. General Atomics, Ocean Aero, Edelbrock and Milwaukee Tool all announced investments in the past year.

“We can get in the ring with anybody, and we can leave with more jobs and higher wages. Mississippians can bring more skill and dedication to any project than anyone else, anywhere in the world. We work harder than anyone. Why shouldn’t we get the best jobs, the best expansions and best headquarters?”
Tate Reeves
Governor

TAXES

0 %

top corporate income tax

# 0

on the Tax Foundation’s State Business Tax Climate Index ranking

EDUCATION

0 %

of students graduated high school in 2019

0 %

of adults age 25 and older have a bachelor’s degree or higher

UNEMPLOYMENT RATE

0 %

RIGHT TO WORK STATE

Yes

QUALITY OF LIFE

# 0

POPULATION GROWTH

0 %

decrease between 2010 and 2020

KEY INCENTIVES

Mississippi Data Center Incentive: Offers a sales tax exemption for all computing equipment and software used by companies certified as data centers by the Mississippi Development Authority.

Capital Improvements Revolving Loan: Offers loans to counties or municipalities to finance public infrastruc- ture improvements that support business expansion or location.

Advantage Jobs Program: Offers a rebate as a per- centage of Mississippi payroll to qualified employers for a period of up to 10 years for businesses that promote significant expansion of the economy through job creation.

Mississippi Aerospace Initiative Incentives Program: Offers corporate tax incentives to companies that man- ufacture or assemble components for the aerospace industry.

EDCs

Mississippi Development Authority

mississippi.org

Greater Jackson Alliance/JXN Metro 360

jxnmetro360.org

Hattiesburg Area Development Partnership

theadp.com

HIGHLIGHTED PROGRAM OR INITIATIVE

The ReSkill Mississippi initiative (ReSkillMS) helped ease economic burdens and uncertainty in the pandemic with community college or on-the-job training for work- ers. As of September 2021, more than 2,000 residents were enrolled in the program, providing workers for 71 employers.

BIG DEALS

  • IG Design Group announced in December 2020 a $57 million expansion in Marshall County that will create more than 300 jobs.
  • Milwaukee Tool announced in April 2021, it will invest $60 million in a facility in Grenada County and bring 1,200 jobs to the region.
  • Edelbrock announced in June 2021 it will locate its headquarters in Jackson and create 200 jobs.
  • Software company Carmigo announced in September 2021 it will locate its headquarters in Tupelo and create 50 jobs.
  • Ocean Aero announced in September 2021 the relocation of its manufacturing operations and headquarters from San Diego to Gulfport.
  • General Atomics Electromagnetic Systems announced in October 2021 an expansion and 50 new jobs in Iuka.

BIG COMPANIES

  • Corelle
  • Entergy
  • Kohler Engines
  • VT Halter Marine
  • SYNNEX
  • Toyota
  • Unified Brands
  • Williams-Sonoma
  • Amazon