#36 Mississippi


5.91 out of 10 in Taxation and Regulation

4.64 out of 10 in Workforce Quality

5.18 out of 10 in Living Environment

Right to Work?


Quiet Growth in Aerospace and Automotive

Economic growth in Mississippi trailed national averages in recent years, but the state’s manufacturing sector continues to expand. It has seen more than $2 billion in auto manufacturing investments since 2012, and Northrop Grunman, which recently celebrated the 10-year anniversary of its advanced manufacturing facility in Moss Point, announced a lease extension and additional investments to expand production of its unmanned systems. The aerospace sector also continues to grow at the NASA Stennis Space Center in Hancock County.

From the Governor

“[Continental Tire’s] decision to bring 2,500 new jobs to Central Mississippi speaks volumes about our dedication to developing the workforce of the future, as well as a business environment that spurs growth, expansion and innovation.” —Gov. Phil Bryant

Key Industries

Advanced manufacturing, Aerospace, Agribusiness, Automotive, Energy, Film, Healthcare, Shipbuilding, Tourism

Key Companies

BancorpSouth
Cal-Maine Foods
Hancock Holding Co.
Sanderson Farms
Trustmark
Venture Technologies
Ergon
Nissan North America
Tyson Foods
Ashley Furniture Industries
Peavey Electronics
BorgWarner
Milwaukee Tool

Key Contacts

Development Authority
Glenn L. McCullough, Jr., Executive Director
601-359-3449
501 North West Street
Jackson, MS 39201
gmccullough@mississippi.org
https://www.mississippi.org/

Key Incentives

Advantage Jobs Program: Provides cash rebates of up to 90% of the Mississippi income tax withheld from new employees hired with an annual salary of at least 110% of the state or county average annual salary.

Jobs Tax Credit: Offers a state income tax credit from 2.5%–10% of payroll for companies creating new jobs in the state.

Fee in Lieu of Property Tax: Offers a fee in lieu of standard property taxes when the company’s investment, land, buildings and equipment exceeds $100 million. Fee is negotiated for 20 years but can not be less than one-third of the property tax levy.

Mississippi Works Fund Training Grants: Offers flexible workforce training incentives designed to provide businesses with additional resources to build a more qualified applicant pool.

Discretionary Grants: Offers customized grants for infrastructure or building improvements, relocation assistance or workforce training to meet project or site-specific needs.

EDCs

Mississippi Development Authority: mississippi.org

Mississippi Economic Development Council: medc.ms

Mississippi Economic Council: msmec.com

Greater Jackson Alliance: greaterjacksonms.com

Highlighted Program or Initiative

Mississippi Coding Academies, a joint venture between the Mississippi Development Authority and Innovate Mississippi, offers post-secondary students an intensive, 11-month, tuition-free computer science education program.

Big Deals

  • Continental Tire broke ground in November 2016 on a $1.45 billion commercial vehicle tire manufacturing facility in Hinds County and announced it would create 2,500 new jobs.
  • TopShip announced in February 2016 the addition of 1,000 new jobs and the construction of a $68 million shipbuilding facility at the Port of Gulfport.
  • Niagara Bottling announced in December 2016 a $78 million investment in a new facility and the creation of 38 jobs in Marshall County.
  • Automotive supplier Calsonic Kansei announced in July 2017 nearly 100 new jobs and a $16 million expansion at its existing facility in Madison County.
  • Global technology leader BorgWarner an- nounced in September 2017 a $20 expansion and the addition of 75 new jobs at its existing facility in Water Valley.

C-Suite Testimonials

“The strength of the state and local leadership, the qualified workforce and a growing industrial base helped us make the decision to expand our operations in Columbus.” —Richard Fant, CEO, New Process Steel

“It’s a big advantage that we can now respond to the great market potential in North America by serving our customers from a strategic location…. All in all, we feel that FEUER Powertrain has been very well received in Tunica County, and we continuously strive to make a great contribution to this region in the state of Mississippi with the creation of qualified jobs.” —Dominic Deig, President and CEO, FEUER Powertrain North America

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