Last February, when Mississippi celebrated the announcement of Toyota’s $1.3 billion automotive manufacturing plant to be located in the northeastern part of the state, the announcement was a culmination of months of behind-the-scenes work by a number of local, regional and state organizations. Production at the new Toyota facility is scheduled to begin by 2010 with 2,000 employees.

State and local incentives were crafted to include incentives for both the company and qualifying suppliers. Five tier-one suppliers — Toyota Auto Body Inc., Toyota Boshoku America, PK USA, Toyoda Gosei, and VuTeq USA, have already announced their intentions to locate to Mississippi. These suppliers join over 90 other automotive suppliers that have made a home in the state. Combined, these five international companies are providing a $345 million investment to the state and will create over 2,000 new jobs. Also supporting the automotive industry, in 2007, SeverCorr’s steel mini-mill, an $880 million investment to the state, began production of high-quality steel products.

In addition to the state’s major automotive announcements, a number of other organizations have announced their location to Mississippi over the past year. GE Aviation broke ground on a 2,000-square-foot jet engine component factory near Batesville. The factory is slated to open in early 2009, with a work force expected to exceed 100 in the first 18 months of operation. PACCAR announced it will construct a diesel engine plant near Columbus — a $348 million investment to the state. PACCAR’s facility will employ 500. PSL-NA announced plans to construct a pipe manufacturing and coating facility near Bay St. Louis. The plant will employ 275, and it is providing a $100 million investment to Mississippi. RTI International Metals is constructing a $300 million facility in Hamilton that will produce premium-grade titanium sponge for jet engines. The facility will create 200 new jobs.

One of the driving forces behind these and other major industrial projects around the state is the Mississippi Development Authority (MDA), Mississippi’s lead economic and community development entity.

“Economic development is a team sport,” says Gray Swoope, MDA’s executive director. “We understand the importance of drawing on the strengths of our partners around the state and region, and initiating alliances that provide the best resources for our business clients.”

MDA is involved from the first stages of the deal in helping businesses pinpoint the right package for their investment project. By working side-by-side with local officials and company representatives, MDA is able to match a company’s needs with the appropriate financing resources. A flexible yet aggressive approach to business recruitment allows MDA to customize incentives and financing programs to meet the needs of each unique project. Governor Haley Barbour and the Momentum Mississippi team revamped Mississippi’s incentive programs in order to:

• • provide income tax credits for job creation;
• • incent businesses that provide higher wages and greater levels of investment in Mississippi;
• • provide specific incentives to existing manufacturers to invest in new technology and equipment;
• • be flexible to meet the needs of different targeted industries and different geographic regions of the state.

MDA’s project managers work with a project from the site selection stage through environmental permitting, employee recruitment, and the screening and training process.

Swoope adds, “MDA is a hands-on organization. We know our state and the resources available here. We are willing to roll up our sleeves and show you how to make your business profitable in Mississippi.”