Business Momentum Continues to Soar in Mississippi
Mississippi scores AWS and EV battery joint venture, highlighting its pro-business environment and abundant advantages.
Q2 2024
In January, Mississippi celebrated a tremendous start to the year as two major economic development projects — Amazon Web Services and an electric vehicle battery joint venture between Accelera by Cummins, PACCAR, and Daimler Trucks & Buses — were finalized during special sessions of the Mississippi legislature. These wins, representing a combined $12 billion in new investments and the creation of 3,000 jobs, highlight the state's impressive favorable business environment and its growing attractiveness to global corporations. The decisions by AWS and the EV joint venture to locate in Mississippi are the results of the state’s proactive efforts to foster a business-friendly ecosystem that appeals to industry giants in the technology and automotive sectors.
AWS, a subsidiary of the e-commerce titan Amazon, is establishing two data centers at the Madison County Mega Site in Central Mississippi, marking a substantial accomplishment for the state. In today's digital age, where businesses rely heavily on cloud computing for data storage, processing, and analysis, the presence of AWS’s hyperscale data centers positions Mississippi as a regional hub for cloud services. This move by AWS reflects the state's growing importance in the tech industry and its potential to cater to the burgeoning demand for cloud solutions.
Similarly, the announcement that the joint venture by Accelera by Cummins, PACCAR, and Daimler Trucks & Buses is locating its operations at the Chickasaw Trails Mega Site in North Mississippi is further testament to the state's longstanding prominence in the automotive sector. With Mississippi boasting more than two decades of experience in automotive manufacturing, this decision reaffirms its status as a key player in the global automotive industry. Additionally, the focus on EVs highlights Mississippi's commitment to innovation and sustainability in transportation as the future shifts toward the production of “green” automotive solutions.
The decisions by AWS and the EV joint venture to locate in Mississippi are the results of the state’s proactive efforts to foster a business-friendly ecosystem. A Pro-Business Environment
So, what factors contributed to Mississippi landing these two monumental projects? At the heart of it lies the state's pro-business environment, characterized by several key elements that appealed to AWS, the EV battery joint venture, and other globally renowned enterprises.
Mississippi's optimal location in the Southeast offers businesses convenient access to major domestic and international markets. Situated at the crossroads of several transportation networks, including major interstates, highways, railways, and waterways with 15 ports, the state facilitates the rapid movement of goods and services. This seamless connectivity is crucial as companies like AWS and the EV joint venture rely on speed to market to increase their bottom lines and remain competitive in today’s dynamic economy.
Mississippi's commitment to fostering innovation and collaboration through its educational institutions and research centers also played a pivotal role in securing these wins. The state's esteemed universities and community colleges produce a skilled workforce equipped with the knowledge and expertise needed for the tech and automotive industries. Collaborations between academia, industry, and government drive innovation and provide a steady pipeline of talent for companies looking to invest in Mississippi.
Mississippi's optimal location in the Southeast offers businesses convenient access to major domestic and international markets. The state also offers competitive incentives and streamlined regulatory processes to businesses looking to establish or expand their Mississippi operations. Through targeted incentives like the universal MFLEX tax credit, grant programs, and customized workforce training solutions, Mississippi demonstrates its commitment to supporting economic growth and job creation. The state's leadership also takes a proactive approach to site development and infrastructure investments as millions of dollars are earmarked specifically for creating shovel-ready sites at some of Mississippi’s most competitive industrial parks, like the Madison County Mega Site and the Chickasaw Trails Mega Site.
Gov. Tate Reeves and the Mississippi Legislature are dedicated to maintaining a business-friendly environment in which industries thrive, and their unwavering support continues to attract investments from some of the world’s heaviest hitters. While 2024 already has been remarkable for economic development in Mississippi, they certainly aren’t resting on their laurels. Momentum continues to soar as Mississippi is increasingly being recognized as one of the most favorable states for business.
Consider Mississippi. Learn more at mississippi.org or contact the Locate team at 1.800.360.3323. You’ll be glad you did.
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