Mississippi Ranks in Top 10 on Best States for Manufacturing List
Aug 29, 2023
by: Joshua Wilson, Mississippi Business Journal
Mississippi was recently ranked in the top 10 best states for manufacturing by Site Selection Group, a full-service location advisory, economic incentives and real estate services firm.
The Magnolia State ranked No. 8 on the Best States for Manufacturing in 2023 list, which was calculated based on each state’s competitiveness for corporate investment.
The firm scored and ranked every metropolitan and micropolitan area in the lower 48 states based on key variables of interest for a manufacturing project. Firm officials then averaged the scores of every area within each state to produce an overall state score.
Measurement categories include workforce and market alignment, which accounts for 50% of the score; operating costs, which account for 25%; and geographic positioning, which also accounts for 25%.
Each category contains specific variables ranging from workforce age and population size, tax climate, utility costs and modal access.
“Although criteria are unique to a specific project’s needs, there are standard site selection factors that typically drive most manufacturing location decisions,” said company officials. “A company’s ability to hire and retain a qualified workforce, as well as its ability to receive and ship goods in a cost-effective and timely manner, are among the most influential factors that drive final site selection decisions.”
Officials added: “However, business environment, regulatory climate, utilities, infrastructure, real estate and economic incentives also play an important role in the process. While no singular location will score at the top in every category, the optimal location is one with a good balance of these characteristics and no critical deficiencies.”
The top 10 states and their total index percentages include:
— South Carolina, 113.8%.
— North Carolina, 109.9%.
— Tennessee, 108.5%.
— Texas, 107.5%.
— Utah, 106.1%.
— Georgia, 106.0%.
— Virginia, 104.6%.
— Mississippi, 103.9%.
— Oklahoma, 103.6%.
— Idaho, 103.5%.