But construction, logistics and manufacturing companies are well represented too. In the past two weeks we’ve examined the geographic distribution of this year’s Inc. 5000 by state and through the regional prism of metro areas and cities. Now it’s time to take a look at the numbers by business sector and how those sectors break out by location.
Photo by Lisa Nottingham Photography courtesy of Visit Rancho Cordova
Composites, engineered polymers, hybrid materials and nanomaterials are at the center of product innovation in virtually every manufacturing sector. Here’s a look at a few prime examples.
Photo by Michaela Parker courtesy of Mississippi State University Extension Service
The office of Tribal Chief Cyrus Ben announced this week that new analysis shows the Mississippi Band of Choctaw Indians (MBCI) has an almost $1 billion annual impact on the state of Mississippi’s economy. A sovereign nation with more than 11,000 Tribal members, MBCI has over 35,000 acres of Tribal land across Mississippi and Tennessee.
The report by Mississippi State University examined new construction expenditures, commercial operations, government operations, human capital investment and tourism spending. “Based on 2022 expenditures, MBCI activities, visitors and graduates increased state output by $980 million,” MBCI stated in a release, generating $227.2 million in personal income across the state. MBCI economic activities spark spending that supports the employment of 6,696 people, not counting the 3,079 additional nonrecurring positions affiliated with MBCI construction projects.
Among the programs highlighted in the study is a Tribal Scholarship Program (TSP) established to offer eligible members financial support to pursue education beyond high school. “In 2022, 41 TSP graduates collectively earned $795,288 more than they would have without their degrees,” MBCI announced.
Photo by hapabapa of 2017 Tax Cuts and Jobs Act document: Getty Images
A recent Harvard Gazette piece by Christy DeSmith explores the work of Harvard macroeconomist Gabriel Chodorow-Reich and his co-authors analyzing the real-world impacts of 2017 Tax Cuts and Jobs Act (TCJA) in the summer issue of the Journal of Economic Perspectives. While one paper finds capital investments have risen by 11% under the law (several provisions of which are set to expire next year), separate analysis finds the expected rise in wages was nowhere near projected levels. Their work also finds that while corporate tax revenues dropped by 40% immediately after the implementation of TCJA (which dropped the corporate tax rate from 35% to 21%), they started rising again in 2020, possibly influenced by a number of factors ranging from supply chain adjustments to “the fact that the former tax haven of Ireland abandoned its ultra-low corporate rates in 2020,” the Gazette explains. “That compelled U.S. multinationals, including Google’s parent company Alphabet, to start booking more profits in the U.S. amid the TCJA’s lower tax rates.”
The Journal’s summer issue symposium on the TJCA features three papers on the topic, as well as separate analysis of Opportunity Zones, the subject of a forthcoming feature in the November 2024 issue of Site Selection. How would extensions of various provisions affect you or your company? The Committee for a Responsible Federal Budget offers a “Build Your Own Tax Extensions” tool to find out.
PHOTO OF THE DAY
Photo courtesy of Microtech Gefell
Microtech Gefell, the precision acoustic instruments and microphone manufacturer based in the German city of Gefell for 96 years, recently held an open house on the occasion of the town’s 650th anniversary (yes, you read that right: 650 years). A news release from the company about the event led Site Selection Editor in Chief Adam Bruns down an eye-opening rabbit hole to the discovery of this photograph and of the fact that “funk” means “radio” in German and derives from the word for “spark.”
Microtech Gefell/MTG was founded in 1928 by Georg Neumann. The company relocated its headquarters to Gefell, located in Thuringia, in 1943 after its headquarters in Michaelkirchstraße in Berlin was severely damaged by bombs. In 1946, employees returning from Gefell founded a workshop in Berlin (West) that developed into Georg-Neumann GmbH, the second Neumann company and part of the Sennheiser Group since 1991, a company history explains. After reunification in 1993, the limited partnership Georg Neumann & Co. — now Georg Neumann KG — regained Microtech Gefell GmbH.
“Georg Neumann & Co, Elektrotechnikes Laboratorium Gefell iV, RFT Microphone Technology Gefell and, last but not least, Microtech Gefell GmbH — these different names for one and the same company bear witness to the social upheavals that the company has had to survive in its 95-year history,” says the company history. “However, nothing has changed in the company’s claim to supply the best possible broadcast microphones, in keeping with the tradition of its founder.”
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