By Mississippi Development Authority
The past year has proven to be transformative for Mississippi, marking a new era in economic development with game-changing corporate investments across multiple sectors. The state has attracted billions of dollars from tech giants, automotive and advanced manufacturing companies and so many more. This surge in investments is creating thousands of jobs, boosting technological innovation and solidifying Mississippi’s position as a key player in the global economy.
Mississippi’s business-friendly mindset is at the core of its economic growth. The state’s pro-business policies, competitive incentives, skilled workforce and strategic location make it a top choice for companies looking to expand and innovate. Under the leadership of Gov. Tate Reeves, the state actively works to eliminate barriers and cut through red tape that often hinders companies’ growth. In turn, they go from investing money to making money in record time. Mississippi’s economy is ripe for innovation and growth, and the state’s commitment to building strong partnerships with the private sector has attracted world-class companies that are driving its prosperity.
A standout moment in 2024 came when Amazon Web Services (AWS) announced its decision to invest $10 billion in new data center operations in Central Mississippi. This massive investment is reshaping the state’s technology sector, creating 1,000 high-tech jobs and positioning Mississippi as a digital innovation hub. The development of these data centers is expected to power significant advancements in cloud computing, artificial intelligence and big data analytics while attracting even more technology-driven enterprises to the region.
Another monumental project that announced in 2024 is Amplify Cell Technologies, an electric vehicle battery joint venture between Accelera by Cummins, PACCAR and Daimler Trucks & Buses. The nearly $2 billion investment is creating 2,000 good-paying jobs in North Mississippi. Amplify’s new facility will lead to groundbreaking research and production in cell technologies while bolstering Mississippi’s position as a leader in the advanced manufacturing and automotive sectors.
In addition to these record-breaking projects, Mississippi has garnered many more economic development wins in 2024 from both new and existing companies, domestic and foreign. Switzerland-based Liebherr, one of the largest manufacturers of construction equipment in the world, is locating distribution and manufacturing operations in Tupelo. The company is investing $176 million and creating at least 180 jobs. Liebherr potentially will invest up to $238.4 million and create up to 342 jobs to support its new Mississippi operations, which will be located on a 118-acre site that will enable the company to construct more than 1 million square feet of building space.
Furniture giant Ashley Furniture has invested significantly in its Mississippi operations over the years – the latest being a $79.425 million investment in two of its northeast Mississippi operations. The project will expand Ashley’s foam and mattress production at its Verona, Mississippi, location through the purchase and renovation of a neighboring facility and the construction of a new facility. Additionally, Ashley plans to expand operations in Saltillo, Mississippi, which is currently home of the country’s largest mattress plant, by investing substantially in equipment and operations. This expansion will enhance Ashley’s operational efficiencies to better serve its customers in more than 155 countries worldwide.
Defense technology company Anduril Industries also is expanding in the state. Anduril acquired solid rocket fuel innovator Adranos in 2023, including its solid rocket motor production site in Stone County, Mississippi. The company is investing $75 million and creating 60 new jobs to enhance the capabilities of the facility by increasing its propellant mixing and solid rocket motor annual production capacity from 600 to more than 6,000 tactical-scale solid rocket motors.
Aurora Flight Sciences’ latest investment in its Columbus, Mississippi, operations further strengthens the state’s foothold in this crucial sector. A subsidiary of Boeing, Aurora Flight Sciences designs, builds and flies advanced aircraft and enabling technologies for commercial and defense applications. The company is investing nearly $44 million and creating 63 new jobs to support an expansion that will add 50,000 square feet of manufacturing space onto its existing aerosystems production facility. The company also is refurbishing 40,000 square feet, adding new equipment and machining and improving its automated fiber placement technology.
The phenomenal economic growth happening in the Magnolia State is the result of multiple factors merging to create an environment that fosters innovation and success, perhaps the most important factor being people. Mississippi’s emphasis on workforce development has been critical to its economic success in 2024. Accelerate Mississippi, the workforce development arm of the state, partners with educational institutions, technical colleges and industry leaders to develop training programs that equip residents with the skills needed for high-demand jobs. Not only has this focus on workforce development been instrumental in attracting global leaders to Mississippi, it also has helped retain and grow existing companies, reinforcing the state’s reputation as a place where industries compete and win in the global marketplace.
Mississippi’s success in 2024 also is a direct result of its collaborative approach to economic development. Mississippi Development Authority, local governments and economic development organizations, private-sector partners and educational institutions work together to create a supportive environment for businesses. This teamwork has enabled the state to respond effectively to the needs of companies while fostering a culture of innovation and entrepreneurship that drives long-term economic growth.
Looking ahead, Mississippi’s focus will be on sustaining the incredible momentum gained in 2024. By continuing to successfully recruit diverse industries and supporting technological innovation, Mississippi is well-positioned to maintain its role as a leader across a wide range of sectors.
The past year has certainly been a breakthrough year for Mississippi’s economy. With historic investments from AWS, Amplify Cell Technologies and so many others, the state has demonstrated its ability to attract top-tier companies across various industries while letting the world know Mississippi is open for business. As leadership continues its mission of providing outstanding economic opportunities for Mississippians, the state is not only just keeping pace with the ever-changing economy – it’s leading the way by shaping the future of business and technology in the Southeast.
