< Previous48 MISSISSIPPI DEVELOPMENT GUIDE recorders and reproducers ($1.4 billion); nuclear reactors, boilers, machinery and appliances ($1.3 billion); and vehicles other than rail ($752 million). Agriculture, too, is a leading export sector, particularly soybeans, poultry and cotton with Asia, Latin America and Africa seeing rising demand for these and other Mississippi commodities. The export destination chart shows the top 10 global markets for Mississippi goods in 2024. Included in the top 20 are Taiwan, Vietnam, El Salvador and Pakistan, demonstrating the geographical breadth of demand for the state’s exports. While objects in the road ahead are unpredictable, moderate export growth of 2% to 5% over the next five years is likely, says Vickie Watters, director of Mississippi Development Authority’s International Trade Office. “Best-case scenario? If EV manufacturing expands and agriculture/energy exports stay strong, Mississippi could see $20 billion or more in exports by 2030.” Factors supporting that outlook, says Watters, include global food security concerns and population growth that could drive increases in agriculture exports, nearshoring and U.S. industrial policy benefitting auto parts and machinery exports, and demand for petrochemical- based products and LNG driving potential increases in energy- related exports. Keeping Export Infrastructure in Ship Shape Mississippi’s transportation infrastructure facilitates export activity with strong Interstate and rail networks, Mississippi River access to the Gulf and its Gulfport and Pascagoula ports. What’s more, infrastructure improvements across the state are under way to keep that infrastructure in top shape. They include: Port Improvements & Waterway Infrastructure • Port of Gulfport expansion: Ongoing upgrades to increase capacity and accommodate larger vessels post-Hurricane Katrina. • Port of Pascagoula modernization: Investments in cargo handling and rail connectivity to support trade. • Mississippi River dredging: Federal and state efforts to maintain and deepen shipping channels for larger barges. Highway & Rail Upgrades • INFRA (Nationally Significant Multimodal Freight & Highway Projects) and CRISI (Consolidated Rail Infrastructure & Safety Rank Export 2024, US$ Destination World13,690,041,898 1 Canada 2,067,200,724 2 Panama 1,720,410,637 3 Mexico1,643,954,644 4 Honduras 812,204,529 5 Belgium 698,617,000 6 Netherlands 694,572,223 7 Guatemala 640,710,438 8 China 595,389,232 9 Japan 386,060,341 10 Brazil 366,869,178 Source: S&P Global, Mississippi Development AuthorityMISSISSIPPI DEVELOPMENT GUIDE 49 Improvements) federal grants: Mississippi has secured federal funding for freight rail and highway projects to improve connectivity to ports and neighboring states. • I-10 & I-55 Corridor improvements: Projects to reduce congestion and improve trucking routes for exports. On the Road Again Part of Mississippi’s export success is its commitment to reminding industry gatherings and key global markets that the state has the products they’re looking for. That’s why MDA Executive Director and Chief Economic Development Officer Bill Cork and other officials spend significant time participating in trade missions and conferences domestically and abroad. “On both the state-wide and international levels, Bill Cork consistently includes in his presentations and speeches the promotion of MDA’s International Trade Office’s international programs, services and international trade activities,” notes Watters. “Additionally, he serves as Mississippi’s head of delegation at MDA International Trade Office- hosted International Trade Missions.” One example was the FIDAE Aerospace & Defense Trade Show in Santiago, Chile, in April 2024, where Mississippi companies Skydweller, ITT Engineered Valves, Taylor International and Kengro secured sales with international buyers. A trade mission to Panama in 2024 focused on logistics, agriculture, defense and security and heavy equipment. Mississippi companies Hyperion, Moon River Foods, MCL Logistics and Confer Consulting and Communications secured sales with international buyers. Trade missions to Europe in 2024 focused on marine technology, aerospace, defense and security secured sales and on-going business development relationships with international buyers for NVision, Hyperion Technology, Highside Chemicals and JT Strickland. Trade missions in 2025 are planned for Europe, Asia, Africa and Latin America. “Best-case scenario? If EV manufacturing expands and agriculture/energy exports stay strong, Mississippi could see $20 billion or more in exports by 2030.” — Vickie Watters, Director, International Trade Office, Mississippi Development Authority50 MISSISSIPPI DEVELOPMENT GUIDE ore than 400 companies headquartered outside the United States have operations in Mississippi. A recent Mississippi Development Authority (MDA) report on foreign direct investment in the state notes that international companies have invested more than $3 billion since 2020, and more than 39,000 Mississippians are employed by those companies. The top fi ve foreign countries with Mississippi operations, supporting roughly 70% of those workers, are Japan, Germany, Canada, the United Kingdon and China. But operations from companies based in India, Malaysia, Finland, Chile and many other countries contribute to the Magnolia State’s economy. They benefi t from the state’s rail, river, air and Gulf Coast logistics infrastructure; pro-business operational environment; and a plentiful, well-trained labor pool. Switzerland-based ABB, a global provider of electrifi cation and automation equipment, is investing $40 million to expand its operation in Senatobia by 200,000 square feet. The company plans to increase production of its air circuit breaker and molded case circuit breaker lines. ABB plans to complete work on the expansion in early 2026. PCC GulfChem Corporation, a division of Germany-based PCC SE, is investing $540 million in a manufacturing operation in DeLisle. The maker of chemical feedstocks, specialty chemicals, silicon and silicon derivatives expects to create at least M by MARK AREND FOREIGN DIRECT INVESTMENT German-Swiss construction equipment manufacturer Liebherr is expanding its North American footprint by locating new manufacturing and distribution operations in Tupelo, Mississippi. The FDI project is a $176 million investment and will create 180 jobs. Here, MDA Executive Director Bill Cork visits the Liebherr plant in Germany where the company produces its 30-ton dump trucks. Photo courtesy of MDA Tariff Forecast: Partly Cloudy Or a ‘Great Opportunity’?MISSISSIPPI DEVELOPMENT GUIDE 51 84 jobs at the Harrison County site. Sipcam Agro USA, owned by Italy- based Sipcam Oxon Group, recently invested $3.6 million to upgrade a recently acquired facility in Wayne County. The company specializes in agricultural fungicides, herbicides and other specialized solutions for agricultural uses. The project created 26 new jobs and retained 88 workers employed by the facility’s previous ownership. All states find themselves in a new capital-attraction environment as U.S. tariff deals are negotiated and finalized with foreign markets. Mississippi sees opportunity even as the dust settles. In the following interview, Christian Lockamy, MDA Deputy Chief Economic Development Officer, explains why. How is the current tariff climate affecting Mississippi’s prospects for additional foreign direct investment? Is the state taking steps to maximize this opportunity? LOCKAMY: It presents both challenges and opportunities. While tariffs may raise costs for agricultural exports like rice, soybeans, cotton and corn, they also are encouraging foreign companies to shift production to the U.S. This presents a great opportunity for Mississippi to boost its FDI pipeline. In 2023, prior to the tariffs, Switzerland-based construction equipment manufacturer Liebherr announced it would invest $40.6 million and create 400 jobs to locate operations in Tupelo, Mississippi. This is just one example of Mississippi’s ongoing appeal to foreign firms, and we feel that appeal will be amplified as so many foreign companies are now looking to the U.S. for their production needs. Mississippi Development Authority has offices in Europe, Asia and South America, and we are working with our foreign representatives to maximize these potential FDI opportunities through trade shows and meetings with companies at events like the recent SelectUSA Investment Summit held near Washington, D.C., and InterBattery 2025, which took place this spring in Seoul, Korea. Foreign companies looking for a Gulf Coast location have many options. In general terms, how does Mississippi differentiate itself from adjacent states to capture their interest, and hopefully investment? LOCKAMY: Mississippi’s Gulf Coast distinguishes itself from neighboring states with its thriving Blue Economy, the third strongest in the country in terms of job concentration, or 15 times the national average in employment concentration. Many of these jobs are in our shipbuilding sector, which has been a major employer and economic driver for the Gulf Coast for decades. The industry is supported by the MS-SHIPS workforce training program and The University of Southern Mississippi’s innovation in blue tech, including its Gulf Blue Navigator program, all of which ensure Mississippi excels in maritime expertise. In fact, the state’s Blue “ We currently are home to global leaders like Liebherr, ABB, Rockwool and automotive leaders Toyota, Nissan, Continental and Yokohama Tire — just to name a few. ” — Christian Lockamy, Deputy Chief Economic Development Officer, Mississippi Development Authority52 MISSISSIPPI DEVELOPMENT GUIDE Economy — according to LightCast — generated $30B GRP in 2024, a 46% growth rate in the last four years. This key sector also employs more than 220,000 workers, with companies leveraging our affordable costs and incentives, making it a low-risk, attractive hub for foreign investment. Additionally, the Mississippi ports of Gulfport and Pascagoula, two deepwater ports on the Gulf Coast, are integral to the success of companies doing business in the state, as well as those with international shipping needs. The Port of Gulfport currently is seeking to deepen the channel up to 47 feet to allow for even larger vessels, and an expansion project is expected to include a nearly 300-acre dredge- and-fill program that eventually will allow for new shipbuilding or related operations. The deepwater ports’ range of offerings also is enhanced by on-dock rail and easy access to Inter- state 10. Mississippi knows compa- nies prioritize speed to market when looking for a location to invest their dollars, and the Mississippi Gulf Coast delivers by offering quick, convenient access to markets here in the U.S. and around the world. What should readers know about the state’s current project pipeline, particularly in terms of foreign projects? LOCKAMY: Mississippi’s project pipeline is flourishing with active foreign investment projects and promising leads. We currently are home to global leaders like Liebherr, ABB, Rockwool and automotive leaders Toyota, Nissan, Continental and Yokohama Tire—just to name a few. The state’s strategic logistics, world-class workforce and affordable cost of doing business draw interest from around the world and bolster the state’s position as a vibrant hub for international investment across diverse manufacturing sectors. One of Japan’s largest FDI projects in the U.S. is the company’s Toyota plant in Tupelo. Here, Toyota employee Millie Eubanks Smith takes a selfie in front of the 2 millionth Toyota built in Mississippi. Smith is an assembly production engineer at Toyota Motor Manufacturing. Photo courtesy of Toyota USA54 MISSISSIPPI DEVELOPMENT GUIDE he 283,383 small businesses in Mississippi represent 99.3% of all Mississippi businesses and employ 430,256 people — 46.2% of all Mississippi business employees. Moreover, according to the U.S. Small Business Administration, of the 17,389 net new jobs added by opening and expanding Mississippi establishments between March 2022 and March 2023 jobs, small businesses (fewer than 500 employees) contributed a net increase of 11,774 jobs, or 67.7%. Hidden inside each one of those 283,383 companies is a story of entrepreneurship, opportunity, innovation and perseverance. Here are two of them. Superior Optical Lab, Ocean Springs Founded in 1991 and based in Ocean Springs next door to Biloxi on the Gulf Coast, Superior Optical Lab is service-disabled veteran-owned small business owned by a U.S. Navy veteran with a history of partnering by ADAM BRUNS T There’s Nothing Tiny About Mississippi’s Small Business Impact SMALL BUSINESSMISSISSIPPI DEVELOPMENT GUIDE 55 with the U.S. Department of Veterans Affairs to provide affordable, high- quality eyewear to veterans and their families. “Based in Ocean Springs, Superior Optical Lab operates one of the most technologically advanced wholesale optical laboratories in the United States,” said the Mississippi Development Authority (MDA) in October 2024 when it announced a $12.4 million, 188-job expansion in Jackson County that adds 45,000 sq. ft. of production space. The county and MDA both are providing assistance for the building improvements. “On behalf of all of our employees at Superior Optical Lab, I am extremely excited to be partnering with MDA and Jackson County to expand our business along Mississippi’s Gulf Coast,” said Superior Optical Lab President and CEO Derek Bodart. “I want to thank Governor Reeves and all of our senators and state representatives for their continued support. Superior looks forward to being able to offer employment opportunities to those in our community and further advancing our mission of providing high-quality eyewear to our many customers throughout the country.” Asked how the company approached the investment decision, Tony Jones, the company’s vice president and COO, says by email, “At Superior Optical we have always worked diligently to ensure that we prepared to capitalize on any opportunities that are presented to us. As a result, we have expanded our lab production facilities and increased our capacity by adding the most technologically advanced eyeglass manufacturing equipment available on the market today. Our customers, which include the Veterans Administration (VA), Eyecare Professionals (ECPs) and various large corporations, can always count on Superior knowing that as their eyewear needs increase, we will be there to serve them. “Both Jackson County and the state of Mississippi have been very supportive of our company which has allowed us to grow and hire employees in a way that may not have been possible in other states,” Jones says. “Prior to our expansion we had explored other locations including Florida, where Derek and I are both from, but we have grown to love Ocean Springs, its people and its business-friendly environment. We are in Mississippi to stay and Ocean Springs Beach, Mississippi Photo by ArtistheJourney: Getty ImagesT he Mississippi CDFI Small Business Loan Fund has been allocated $45 million to provide funds in the form of a loan to non- depository community development fi nancial institutions to support lending to Mississippi small businesses and startups. In 2023 the U.S. Treasury Department and the Mississippi Development Authority announced the approval of Mississippi’s state plan for up to $86 million in funding under the American Rescue Plan’s State Small Business Credit Initiative. Mississippi operates four SSBCI programs to support small businesses and startups, including the loan fund, a loan guarantee program and two equity/venture capital programs. “Mississippi has tremendous momentum, and we are blessed with fantastic small businesses in every part of our state,” said Gov. Tate Reeves in 2024. “I look forward to seeing how these funds will help to build upon Mississippi’s record-breaking economic development success.” The State of Mississippi’s Certifi ed Minority Business Directory includes 621 records. Among the biggest employers are infrastructure contractor W&T Contracting Corporation in Olive Branch and Southaven; NVision Solutions in Diamondhead in Hancock County; and Golden Years Home and Adult Care in Marks in Quitman County. For more information, visit mississippi.org/minority-small-business/. 56 MISSISSIPPI DEVELOPMENT GUIDE look forward to contributing to the Mississippi economy for many years to come.” Greenville Kearns Aerospace Maintenance, Greenville In September 2024, Greenville Kearns Aerospace Maintenance announced it is investing $11.75 million and creating 31 new jobs at its aircraft maintenance operations in Greenville, located in the northern half of the state along the Mississippi River that forms the state line with Arkansas. “GKAM specializes in aircraft maintenance, repair and overhaul, as well as avionics/structure modifi cations, manufacturing, inspection and kitting for military and civilian aircraft,” MDA announced. “Since 2022, the company has leased a hangar at Mid Delta Regional Airport, where it previously committed to creating 250 jobs.” That lease was signed for 20 years that year with the city of Greenville. In addition, the Greenville City Council approved a $15 million Small Business Programs at the ReadyMISSISSIPPI DEVELOPMENT GUIDE 57 Superior Optical Lab is expanding in Ocean Springs. Photo courtesy of Superior Optical Lab, Inc. industrial revenue bond to renovate Hangar 450 to Department of Defense specifications. The new project involves retrofitting two existing aircraft hangars to be used for aircraft painting, paint striping, hazmat capture and hazmat storage and containment. MDA said the new capabilities will make GKAM one of the largest aircraft depots in the U.S. and the largest veteran- owned small business in the U.S. The project is receiving assistance and support from MDA and its Mississippi Flexible Tax Incentive, or MFLEX, program; AccelerateMS and Washington County. “By adding 31 new positions and working with Mississippi Delta Community College and South Delta Planning and Development District to develop a new Aviation Maintenance training program, the company is not only enhancing its own capabilities but also providing valuable career opportunities that will help drive economic growth in Greenville,” said AccelerateMS Executive Director Courtney Taylor. GKAM President and CEO Ronnie Kearns said the expansion marks the start of an exciting chapter in the company’s history. “Adding the strip and paint to our modification and maintenance capability will establish GKAM as one of the largest maintenance and depot facilities in the Southeast,” Kearns said last September. “Having the capacity to work up to six C-130 aircraft under roof simultaneously and now adding strip and paint to our capabilities make us a true competitor in the DoD aircraft maintenance space.” Next >