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State Resources


Mississippi Business Resources

The warm climate and fertile soil allowed for cotton to be the King of Mississippi’s economy through the 19th century. Post World War II, Mississippi’s agricultural economy underwent a revolution driven by crop diversification, mechanization, and consolidation. Mississippi’s economy has since become more diversified by slowly balancing agricultural output with increased industrial activity.

Manufacturing currently contributes roughly six times more income to GDP than agriculture, but much of the state’s industrial strength is related to the agricultural sector. One example is food processing, which provides the most income out of any manufacturing industry in the state. Many businesses have moved to Mississippi because of the state’s business-friendly taxes, proximity to primary products and weak labor unions.

Business Data

Per Capita Real GDP$24,062 Rank: 50/50 (2006)
Population2,844,660 Rank: 31/50 (2000)
Per Capita Personal Income$26,535 Rank: 50/50 (2006)
Unemployment Rate6.00% Rank: 47/50 (2008)
Business Tax Climate IndexRank: 18/50 (2008)
Corporate Tax Rate3% - 5%
Individual Tax Rate 3% - 5%
Sales Tax Rate 7%

Business Tax Climate Index

Individual Income Tax Index Rank
Sales Tax Index Rank
Unemployment Insurance Tax Index Rank
Property Tax Index Rank
Business Tax Climate Index
Corporate Tax Index Rank

State Information

AbbreviationMS
CapitalJackson
Nick NameMagnolia State
State Web Sitehttp://www.mississippi.gov
MottoBy valor and arms

Top 5 Export Partner Countries

Canada, Mexico, United Kingdom, China, United Arab Emirates

Top 5 Export Merchandise

Paper Sales Chemicals Sales Textile Mills Manufacturing Primary Metals Manufacturing Machinery Manufacturing

Major Cities

Biloxi, Gulfport, Jackson

GDP

Total Gross Domestic Product (USD Millions) $88,546.00 (2007)
Per Capita Real GDP (USD)$24,477.00 Rank: 51 (2007)

Population Stats

Population 2,938,618 Rank: 31 (2008)

Age Distribution

Under 18 Population775,187
Under 18 Percent of Total Population27%
65 and older Population343,523
65 and older Percent of Total Population12%

Gender Distribution

Male Population48.3%
Female Population51.7%
Non-English Speaker (at home)76,875
Net International Immigration10,653
Birth Rate14.7%
Percent of People Under Poverty Level21.3%
Rank1

Expenditure

Per Capita State Spending$16,727
Rank30
Energy Expenditures per Person$4,487
Expenditures of State and Local Government Employee-Retirement Systems$1,327,134

Revenue

Personal Income$35,664
Rank50
State Internal Revenue Collection$10,868,707
Rank38
Cash and Deposits by State Government$848,871 (2005)
Per Capita State Tax Collection$2,066
Rank37

Education

High School Graduation Rate60.9%
Rank45
Percent of Population with a Bachelor's Degree12.2%
Rank48
Percent of Population with an Advanced Degree6.4%
Rank49

Largest Universities

Mississippi State University University of Mississippi University of Southern Mississippi
High School Graduation Rate60.9%

Logistics

Public Road Length (Mile)74,408
Gas Tax Rate (%)18.4%
Highway Planning and Construction (USD Thousands)391,126
Number of Public Airports80

Main Airports

HKS: Jackson JAN: Jackson

Ports

Greenville, Gulfport, Pascagoula, Vicksburg

Weather


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State Business Links

Sun Herald
http://www.sunherald.com

Secretary of State

Mississippi secretary of State
http://www.sos.state.ms.us/
Information regarding election law, public lands, and formation of Mississippi corporations.

Small Business Administration

Mississippi Small Business Administration
http://www.sba.gov/localresources/district/ms/index.html
The Mississippi District Office serves the northern 70 counties, while the Gulfport Branch Office serves the 12 most southern counties. In Fiscal Year 2007, Nationally, SBA approved 110,275 loans totaling $20.6 billion exceeding loans made in FY 2006 (107,233 for $20.25 billion). Most gains were made in loans to minorities (7%) with the largest increase in loans to African Americans (23%) from 7,338 to 8,903. In Mississippi, although loans were down (623 in FY07 vs. 717 in FY06), the trend was similar in gains being made to minorities (227 loans in FY07 vs. 215 in FY06) and particularly African Americans (182 loans vs. 150 loans). Other gains were in loans to veterans (17% vs. 15%)

Top 10 Business Links

Department of Agriculture and Commerce
http://www.mdac.state.ms.us/
This site provides detailed information, such as regulations, news and events, or just general info, related to the agriculture industry in Mississippi. Additionally, many publications are available, as well as links to even more resources for those in the agriculture business.
Mississippi Business Journal
http://www.msbusiness.com/
This is the online location of the Mississippi Business Journal, which offers news articles specifically on Mississippi business. A list of special events in the area is also provided.
Mississippi Department of Employment Security
http://www.mdes.ms.gov/wps/portal
This site provides resources for business owners, such as registration, wage reporting/tax filing, and other information, as well as labor market information. Labor market information covers topics such as occupational wages, occupational projections, and other data.
Mississippi Development Authority
http://www.mississippi.org/
This site discusses why Mississippi is a good place to do business, quality of life, infrastructure, incentives, etc., in addition to providing detailed state industry profiles, site selection assistance, financial aid programs, and various other information such as how to start a business.
Mississippi Economics and Statistics
http://www.mississippi.gov/ms_sub_sub_template.jsp?Category_ID=14
This site contains many general statistics along with links to economic and labor statistics pertaining to bankruptcy, labor, and economic analysis.
Mississippi Small Business Development Center
http://www.mssbdc.org/
The Mississippi SBDCs aim to help small business in Mississippi. They offer counseling services on all manner of business matters affecting forming or existing small businesses. Training workshops and seminars are offered as well. A detailed FAQ section provides immediate answers to business questions, along with a number of videos and handbooks.
Mississippi World Trade Center
http://www.mswtc.org/
The Mississippi WTC is a member-based nonprofit organization devoted to helping Mississippi businesses with international trade. From the site, you can access information on exporting, importing, marketing, financing, and more. Members benefit from various additional services, such as trade information and education services.
The Journal of South Mississippi Business
http://www.southmississippi.biz/
This site provides online access to the Mississippi-specific business articles by the Journal of South Mississippi Business.
U.S. Export Assistance Center of Jackson
http://www.buyusa.gov/jackson/
The Mississippi branch of the Department of Commerce specializes in helping small to medium sized companies develop and execute exporting strategies. Fees vary and are based on the service being provided.

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