Bill Cork, Executive Director & Chief Economic Development Officer, Mississippi Development Authority
The View From Mississippi: Governor Tate Reeves
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.
Mississippi Governor Tate Reeves
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.
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.
Mississippi State Capitol and downtown Jackson illuminate the night sky. (Photo: Mississippi Development Authority)
TARGETED GROWTH SECTORS
Automotive: Mississippi has been a key player in the automobile manufacturing industry since Nissan established its five-million-square-foot assembly plant in Canton in 2003.
Forest Products: With more than 19.2 million acres of forestland, timber-centric Mississippi is home to more than 800 forest and wood products companies and is primed for significant future growth.
Blue Economy: Mississippi’s Blue Economy combines strengths in traditional maritime industries, like shipbuilding. The Mississippi Gulf Coast boasts the nation’s third highest concentration of blue economy jobs.
The Mississippi Development Authority is the state’s lead economic and community development agency, with approximately 200 employees providing services to businesses and communities throughout the state. MDA works to recruit new business to Mississippi and retain and expand existing industry and business. The agency also promotes tourism throughout the state.
FAST FACTS
Population (July 2022 est.): 2,940,057¹
Largest Cities (2020): Jackson (152,846); Gulfport (72,837); Southaven (54,774); Biloxi (49,456); Hattiesburg (47,275)¹
Real GDP (2022): $104.5 billion²
¹U.S. Census Bureau ²Bureau of Economic Analysis, U.S. Dept. of Commerce
TAX INCENTIVE
Mississippi Flexible Tax Incentive: The Mississippi Flexible Tax Incentive is a universal tax credit that offsets companies’ state tax liabilities. MFLEX eliminates the need for multiple applications for incentive programs and provides greater transparency to companies and state stakeholders regarding the value of credits awarded.
Entergy’s specialized expertise in the industrial sector combined with a reliable power supply and critical site infrastructure are vital for sustainable economic growth.
