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Mississippi Plays To Win
From auto to aero and every sector in-between, companies of all sizes and backgrounds are achieving success with a Mississippi location. With a business-friendly environment and collaborative, can-do attitude among state, regional and local leaders, Mississippi encourages companies to expand existing operations or locate new facilities here. A manufacturing magnet, Mississippi consistently recruits top-tier companies with a highly skilled and highly motivated workforce.
In April, Toyota Mississippi announced plans to create new production lines at its automotive manufacturing plant in Blue Springs. The expansion represents a $170 million investment and creates 400 additional jobs by spring 2019. The plant currently employs 1,500 direct workers, with 2,000 workers total on site.
Since 2007, Toyota has invested more than $1 billion in the Mississippi facility. The latest investment supports production of the 12th generation Corolla, using Toyota New Global Architecture (TNGA). TNGA improves the performance of all models, including providing more responsive handling and shortens the development cycle for vehicle improvements and new vehicles. Production of the 12th generation Corolla is slated to begin the first quarter of 2019.
Another automotive company succeeding in Mississippi is German automotive supplier, hago Automotive. Hago is doubling its footprint in Iuka to accommodate a new contract with BMW. The project represents a $4 million corporate investment in new equipment and creates 60 jobs over the next four years.
Mississippi is able to help these and other manufacturers exceed production goals by enhancing its workforce and creating an environment where businesses can thrive.
The Mississippi Works Fund allocates $50 million over 10 years toward the state’s 15 community colleges. The top-ranked community college system can now enhance its customized training programs to more effectively meet the needs of companies and prepare more Mississippians for in-demand careers. Seventy-five percent of the funds are allocated toward new job creation, while 25 percent of the funds are allocated for existing workforce and workforce certification. The Mississippi Development Authority administers the funds as part of the state’s recruitment and expansion efforts.
The Mississippi Furniture Academy is the first program started as a result of the Mississippi Works Fund. Launched in 2017, the manufacturing skills program is a 28-hour course designed to train students for in-demand jobs in the furniture manufacturing sector – a powerful economic driver in Northeast Mississippi.
In October 2017, the Mississippi Development Authority, Innovate Mississippi, the Mississippi Community College Board, Hinds Community College and East Mississippi Community College announced the creation of the Mississippi Coding Academies. The Coding Academies are an economic development and educational initiative also started through the Mississippi Works Fund. The academies offer post-secondary students an intensive 11-month, tuition-free computer science education program. The program prepares highly motivated high school graduates for careers in the high-tech field of coding.
In addition to the Furniture Academy and Mississippi Coding Academies, the Mississippi Works Fund directly benefits new and existing employers seeking a pipeline of skilled workers for their facilities. Aerospace industry leader Northrop Grumman, manufacturer Milwaukee Tool, poultry processor Pearl River Foods and Sephora and FedEx Supply Chain distribution centers all used the Mississippi Works Fund to train the collective 1,720 new employees.
The Corporate Franchise Tax Phase Out eliminates Mississippi’s corporate franchise tax over a 10-year period, which began in 2018. The law calls for reducing current $2.50 tax for each $1,000 of capital by $.25 a year until a complete phase out occurs in 2027. Additionally, the first $100,000 of taxable capital is exempt from the franchise tax.
These initiatives join an extensive portfolio of existing business incentives, making Mississippi’s pro-business climate second to none and allowing the state to soar to the forefront of aerospace development as well.
Home to dozens of renowned aerospace companies and NASA’s John C. Stennis Space Center, the agency’s largest rocket engine test facility, Mississippi proudly produces at least one component on every commercial airplane in the world and leads the way in unmanned aerial systems development. Industry leaders like Northrop Grumman, Lockheed Martin, Rolls-Royce, Airbus Helicopters, Stark Aerospace, Raytheon and many more continue to grow, creating high-tech careers for Mississippians throughout the state.
In May, Raytheon announced plans for a $100 million expansion at its radar manufacturing production plant in Forest. The new 50,000-square-foot facility will serve as a hub for production and testing of s-band radars. This includes the Navy’s next-generation SPY-6 air and missile defense system, some of which will be used by warships built at Huntington Ingalls shipyard in Pascagoula.
Northrop Grumman, manufacturer of rotary and fixed-wing autonomous systems and manned platforms in support of the United States and its global allies, announced the addition of a mix of new work to its Unmanned Systems facility in Jackson County. This includes sub-assembly work for the F-35 jet fighter program, a $3.7 million investment which creates 60 jobs.
As a leader in agriculture – the state’s top industry – Mississippi continues to thrive in the agribusiness sector. Crop protection company Nufarm is locating operations in Greenville, a $20 million investment which creates 68 jobs. Headquartered in Melbourne, Australia, Nufarm is one of the world’s leading crop protection and specialist seeds companies.
With strong incentives, a business-friendly environment, low operating costs, robust infrastructure and transportation networks and an ever-growing skilled workforce, Mississippi continues to sharpen its competitive edge and garner economic success.
To learn more about how a Mississippi location can help your business gain momentum, contact the Locate Mississippi team at 1.800.360.3323 or [email protected].