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WWelcome everyone! That’s how the state of Mississippi, rightly known as the “Hospitality State,” and its leadership welcome foreign direct investment (FDI). Mississippi perfectly translated that feeling into all languages in simple words that every decision maker understands: customized incentives, shovel-ready locations, a skilled workforce, and speed to market.
“Mississippi’s welcome mat is always out, so global companies can be assured that they are encountering a business-friendly environment that allows them to get to work quickly and bring products to market in a timely manner,” said the deputy Mississippi Development Authority (MDA). Managing Director Laura Hipp. “Our competitive advantages are unmatched and have positioned many of our global partners for many more years of growth and success.”
Some of the best-known international companies have built on their long track records and settled in Mississippi. Toyota, Nissan, Calbee, Continental, Israel Aerospace Industries and countless others have found their ideal locations in Magnolia State, conveniently located “halfway to anywhere.” These companies continue to invest in their operations and create thousands of jobs since discovering Mississippi’s business-friendly environment. In fact, these global leaders rely on more than 45,500 workers statewide to manufacture some of the high-tech products found around the world.
As a result of this hospitable environment, these industry leaders have supported their efforts to recruit new FDI to the state. Nissan and Toyota have both brought extensive supplier networks to Mississippi to support their extensive vehicle assembly operations.
Custom Incentives
Building relationships on a global scale is essential to attracting foreign investment, and one way Mississippi is doing this is by tailoring incentives to each company’s needs. The newest addition to the state’s federal incentive portfolio, the Mississippi Flexible Tax Incentive — or MFLEX — Plan provides businesses with tax and incentive flexibility by providing an optimized universal tax credit that can be used to offset Mississippi state tax liabilities. Foreign companies also appreciate the simplicity of MFLEX, which eliminates the need for multiple applications with a single application and provides companies and stakeholders with more clarity about the value of loans made.
site to success
Recognizing that the key to a foreign company’s success is moving from design to production as quickly as possible, Mississippi invests heavily in creating shovel-ready sites. The state has already earmarked more than $56.7 million for industrial park site development this year. These investments help ensure that all due diligence is in place and the dirt is ready to turn once the business selects its ideal location.
The Terberg Taylor Americas Group, a joint venture between the Taylor Group of Companies of Louisville, Mississippi, and the Royal Terberg Group of the Netherlands, is building a facility for special transport vehicles. The company chose a ready site near Columbus, Mississippi, which allowed it to quickly break ground and then begin construction in record time.
workforce skills
The state also takes a proactive stance when it comes to workforce development, working with its community colleges and universities to provide top-notch, tailored training so workers are ready to take on specific jobs.
Partnering with university programs to improve the workforce resonates well with international companies. Companies doing business in Mississippi have access to talent from eight universities, a research consortium of four universities and 15 community colleges, all working together to create an ecosystem that positions them for success now and into the future.
New Zealand-based Rocket Lab, which announced in September it would build a rocket engine test facility at NASA’s Stennis Space Center on Mississippi’s Gulf Coast, found that Mississippi’s aerospace legacy and skilled workforce would provide the necessary boost for the development of his rocket Neutron. The rocket will carry out national security missions and launch several satellites.
“Our dedicated workforce
makes the term ‘Made in Mississippi’ a hallmark of quality in global markets and even in space.”
— Laura Hipp, Deputy General Manager, MDA
“Our dedicated employees make the term ‘Made in Mississippi’ a hallmark of quality in global markets and even in space,” said Hipp. “Our roster of international leaders already based in Mississippi, as well as those currently considering opening operations in our state, is easily one of the greatest pieces of evidence that Mississippi residents are incredibly talented and show their strong work ethic in.” every single product they make.”
