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Republican Gov. Tate Reeves on Wednesday announced that state agencies are disbursing over $110 million toward economic development, infrastructure upgrades and workforce development around the state.
The funding for the projects is coming from the state Legislature, the Appalachian Regional Commission, the Delta Regional Authority, the Southeast Crescent Regional Commission and the federal government.
“We’ve secured billions in new private-sector investment and created thousands of jobs across the state,” Reeves said. “The funding we announced today will go a long way toward continuing Mississippi’s economic momentum and will help create more high-paying job opportunities for Mississippians across the state.”
The bulk of the spending will go toward developing and improving industrial sites, which are often used to entice manufacturing companies to locate or expand operations in the state. If these sites have adequate infrastructure near them, companies are more likely to locate there.
Despite new investment in the state, Mississippi continues to grapple with one of the lowest rates in the nation of people who are actively seeking work or employed, at 53.9%.
State Economist Corey Miller said at a legislative hearing last week that one of the reasons Mississippi is also experiencing a relatively low unemployment rate of 2.8% is because people have stopped looking for jobs.
Reeves said on Wednesday that Mississippi may have a low percentage of people looking for jobs because the state has a relatively low cost of living and some families can afford to have only one income.
“If an individual doesn’t want a job, the government ain’t going to force them to get a job,” Reeves said. “And that’s just a reality.”
Still, the governor believes Mississippi can improve its labor force participation rate by improving education and providing people with better work skills.
The post Gov. Reeves announces $110 million in economic development efforts appeared first on Mississippi Today.
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