#38 Mississippi


From the Governor

“The Golden Triangle region is a strong manufacturing hub with a skilled workforce, which provides companies with ample opportunities for growth.” —Gov. Phil Bryant


A New Level in Manufacturing

German tire manufacturing Continental Tire is on track to have its $1.45 billion plant in Clinton operational by 2020 and will have 2,500 workers within nine years. But the 2016 deal was only the start of a wave of deals bringing new manufacturers to the state. General Atomics, Toyota, Sephora and Steel Dynamics have made recent investments. Raytheon also announced a $100 million expansion of its manufacturing operations in Forest.

From the Governor

“The Golden Triangle region is a strong manufacturing hub with a skilled workforce, which provides companies with ample opportunities for growth.” —Gov. Phil Bryant

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 Rebate Program: Offers a cash rebate equal to a percentage of payroll for up to 10 years for projects where the average wage meets requirements.

Income Tax Exemption for Aerospace Businesses: Offers an income tax exemption and additional tax incentives for aerospace businesses that invest at least $30 million and create 100 full-time jobs.
Jobs Tax Credit: Offers a tax credit of up to 10% of payroll for each newly created job.

Manufacturing Investment Tax Credit: Offers an investment tax credit against state income tax liability for manufacturers that have operated in the state for at least two years and invest an additional $1 million or more in buildings and equipment.

National or Regional Headquarters Tax Credit: Offers an income tax credit for companies that locate or transfer their headquarters operations to the state.

EDCs

MMississippi 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 State University’s CAVS Extension has worked with more than 150 companies in the past 12 years and can help launch new products, develop training programs, lead a lean transformation and assist in plant turnarounds.

Big Deals

  • General Atomics announced in March 2018 its 10th expansion in 13 years in Shannon. The $20 million project will add 48 jobs.
  • Toyota announced in April 2018 it will invest $170 million in new production lines at its Blue Springs facilities and create 400 jobs over the next 12 months.
  • Steel Dynamics announced in June 2018 a $200 million expansion at its operations in Columbus that will create 45 jobs over the next three years.
  • Raytheon announced a $100 million expansion of its radar manufacturing capabilities in Forest with dozens of new jobs over the next five years.
  • Global beauty retailer Sephora opened in August 2018 a 720,000-square-foot distribution center in Olive Branch with 220 workers.

Big Companies

Toyota
Nissan North America
Sanderson Farms
Continental Tire
Ashley Furniture
Peavey Electronics
Milwaukee Tool

C-Suite Testimonials

“Mueller Industries has been supporting Northeast Mississippi since the late ’60s. Our Fulton warehousing and distribution investments are the latest examples in our long history of working with local and state authorities to provide jobs, growth and new developments in the region.” —Jeff Martin, CFO, Mueller Industries

“The investment we are making here is indicative of the economic climate in the state, the great people of DeSoto County and the confidence we have in the future of our business. We are proud to be a new member of the community and look forward to redefining innovation in the retail industry.” —Satish Malhotra, COO, Sephora Americas

“Construction of a new radar production facility is the next step in our decades-long partnership with the state of Mississippi and its highly skilled workforce…. Together we will integrate, test and deliver the most technologically advanced military radar systems to our U.S. and international customers.” —Wes Kramer, President, Raytheon’s Integrated Defense Systems business

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