Mississippi Flourishes With Booming Economic Development

Strong Economy

• Mississippi’s economy continues to grow. The state’s per capita income increased 54 percent between 1993 and 2003, faster than any Southern state. And its employment increased 20 percent between 1992 and 2000.
• U.S. News and World Report’s economic ranking of the 50 states lists Mississippi eighth in the nation, based on economic variables including employment, per capita income, new business incorporations, building permits, home prices and retail sales.
• The state is home to the world’s largest auto plant that was literarily built from the ground up. The Nissan plant in Canton is a 3.5 million square-foot facility that has a capacity to produce 400,000 vehicles a year.
• Mississippi experienced the largest decline in poverty of any state in the nation. The state ranked number one in the Southeast in change in poverty rate.

Great Business Climate

• Mississippi is home to approximately 70 Fortune 500 industrial corporations that operate at 200 locations throughout the state.
• Mississippi is home to both domestic and international businesses. Approximately 82 foreign companies, representing more than 21 countries, have about 120 affiliates in Mississippi.
• In a recent survey of executives, media and consultants around the country, an overwhelming majority (90 percent) said that the MetroJackson area is a business-friendly environment.
• Mississippi’s civic leaders champion the thriving economic development environment. The state initiated the “Momentum Mississippi” economic development package, a series of forward-thinking incentives that make the state a central player in nurturing and attracting of science and technology-based entrepreneurial activity.
• The Mississippi Technology Alliance was formed to champion innovation and technology-based economic development for the state. It is a nonprofit, public-private partnership comprised of leaders from all sectors in the state.