By Anne Cosgrove
From the July / August 2024 Issue
An efficient regulatory environment and strategic logistics comprised of river, ocean, rail, and air are among the factors that make doing business in Mississippi a winning solution for companies asking, “What’s next?” The Magnolia State offers untapped potential and an ecosystem that has led to innovations in many sectors, such as advanced manufacturing, healthcare, and IT.
Through AccelerateMS, the state’s lead office for workforce development strategy and coordination, companies can access custom training and other workforce assistance. Programs include the Mississippi Workforce Enhancement Training Fund and the Mississippi Works Fund.
“One of my priorities is to have 30 sites primed and ready to go at all times, to attract new business to Mississippi.”
— Governor Tate Reeves
In January, the state legislature allocated $1.4 million to career and technical education efforts at 25 high schools and districts, aiming to empower students by aligning their education with future career or post-secondary education programs. And the EquipMS Grant program, established through House Bill 588 (2023) as the Mississippi K-12 Workforce Development Grant program, aims to provide funding for public school districts to modernize, replace, or otherwise enhance programs. Funding was targeted at manufacturing, healthcare, information technology, economic development priorities, and construction and agriculture, aligning closely with the local industry’s demands.
Reaching out to global business is an active practice in Mississippi. A dedicated team of international trade and investment managers in the capital city of Jackson provide the network of overseas offices in Japan, South America, Europe and Korea to support businesses in their investments into the Magnolia State.
Business Facilities recently spoke with Governor Tate Reeves, who took office in January 2020, about the latest for business in Mississippi.
Business Facilities: Please tell us about the business climate in Mississippi.
Governor Tate Reeves: Mississippi is known for its friendly business climate, and throughout my administration, I have worked hard to remove as much bureaucratic red tape as possible so businesses can quickly get to work. The state government takes a proactive stance when it comes to economic development by supporting various programs and initiatives, including those that offer assistance with site selection, financing, and navigating otherwise stringent regulatory requirements.
We also offer an impressive portfolio of resources designed to make doing business in Mississippi a breeze. These include tax credits and exemptions through programs like our award-winning MFLEX program, which offers companies a universal tax credit to use as they best see fit.
Our groundbreaking Site Development Grant Program is also relatively new and is preparing shovel-ready sites in industrial parks throughout the state, an initiative designed for companies that prioritize speed to market.
These are two sterling examples of initiatives that not only are benefiting our recruitment efforts, but also are benefiting the Mississippians that will fill the thousands of jobs coming to our state as a result of these initiatives.
Through Accelerate MS, the workforce agency for the state, we link companies with academia so they can receive world-class training solutions to ensure they have immediate access to talent. Accelerate has awarded approximately $127 million to 215 new and expanding programs to help train Mississippians for high-demand, good-paying jobs. These programs are paving the way for our next-generation workforce.
We are also ideally situated in the Southeast and boast a well-developed infrastructure network, which includes access to major highways, rail, and 15 ports, all of which facilitate efficient transportation and logistics for businesses that need to quickly get goods to domestic and international markets.
Mississippi is also a very affordable state, which translates to lower operational costs for businesses. Our quality of life is second to none, as well. We offer affordable housing, great schools, and plenty of recreational activities for everyone, making Mississippi a great place to live and work.
BF: What are key issues facing Mississippi in terms of business development?
Gov. Reeves: Mississippi’s historic economic development success did not happen by accident, and it did not happen overnight. It was because we did what was needed to develop project-ready sites across our state that are able to host industry-leading, globally recognized companies.
One of my priorities is to have 30 sites primed and ready to go at all times to attract new business to Mississippi. We have to invest more to remain competitive and win new business. Project-ready sites are the lifeblood of economic development, and Mississippi will continue winning new business as long as they are available. By investing more toward site development, we will continue sending a message to the world that Mississippi is open for business.
And, of course, these sites need to have access to the critical resources that are required to sustain major development projects. In recent years, we have seen a significant increase in the demand for power. For example, the $10 billion Amazon Web Services data centers require a tremendous amount of energy to operate successfully.
Our utility providers not only are stepping up to the plate, but they are also working diligently to meet the demand from businesses by increasing the volume of power at sites throughout the state. We are still working to get adequate power in certain locations to accommodate this demand, but companies thinking of locating to the state can rest assured that our utility providers are up for the challenge.
BF: What are target industries in the state? Would you highlight a project or two that have chosen the state for their business?
Gov. Reeves: Mississippi has proven itself as a global leader in a variety of sectors, including automotive, aerospace, data centers, defense, and forestry. We look forward to growth in all industries, but these in particular are primed for considerable growth.
Two record-shattering projects that are changing the economic landscape of the state are Amazon Web Services and Amplify Cell Technologies. AWS is investing more than $10 billion in two data centers at the Madison County Mega Site just outside of Jackson, and Amplify is locating a $2 billion electric vehicle battery cell production facility at the Chickasaw Trails Mega Site in North Mississippi.
Factors that were vital to the successful recruitment of these companies are: access to a diverse pipeline of talent and educational institutions, impressive sites in these industrial parks, and access to adequate power. The list goes on.
In Mississippi, we like to punch above our weight, and that is resulting in game-changing projects and life-changing career opportunities for people throughout the state.
BF: What else would you like to share about Mississippi with our readers as they consider their next relocation or expansion project?
Gov. Reeves: I think Mississippi is having a historic moment, and I would invite business leaders from across the country and across the world to join in on the action because something truly special is happening here.
For example, even beyond the economic space, Mississippi has had a historic run when it comes to education. Our kids are learning more than ever before. I’m sure some may have heard about the Mississippi Miracle. It’s attracted national attention and it’s something our state is extremely proud of.
Amplify Cell Technologies Begins Building Mississippi Battery Cell Factory
The joint venture between Accelera, Daimler Truck, and PACCAR is expected to create more than 2,000 jobs in Marshall County, MS. Read more…
For context, here are some of the wins Mississippi has had over the last several years: Mississippi went from being ranked the second-last state in 2013 for 4th grade reading to 21st in 2022. In 4th grade math, we went from 50th to 23rd. Today nearly 90% of all Mississippi kids graduate from high school. That’s an all-time high and better than the national average. In 2022, our state was in the Top 5 in the entire nation when it came to 4th grade reading improvement test scores for African American students. Mississippi students have achieved record results in mathematics, English Language Arts, science, and U.S. History. And our state was recognized as one of the top 5 states for high-quality pre-K.
These students are the future of the workforce in Mississippi, and I think employers are going to like what they see from them.
I’m proud to say that Mississippi is on a historic run, and I’m excited for all that the future holds in store for our state and her people.
