What is Mississippi’s pitch to corporations looking to invest in the Magnolia State?

• With economic development successes piling up, MDA’s executive director offers a glimpse into the strategy his team uses to attract corporate investors.

When representatives from the Mississippi Development Authority travel the world seeking potential companies to locate and invest in the Magnolia State, they are armed with a story to tell built on recent economic development successes from the Coast to the Tennessee line.

However, Bill Cork, executive director of MDA, said much of the recruiting strategy must remain a state secret.

“I can’t go too in-depth about our strategies because our competitors are watching. I will say that our approach to attracting investment centers around relationships, responsiveness and results,” he said.

Cork said when his team is presenting Mississippi to a company, “we lead with credible data and deliver with results.”

“We don’t just tell them about Mississippi’s advantages – we show them just how they apply to the company’s goals. Our speed to market, shovel-ready sites and industry-driven workforce training initiatives are major benefits to manufacturers,” Cork elaborated.

Cork explained that MDA’s pitch is individualized to the specific company they are targeting. What data center executives are looking for is different from what attracts manufacturing leaders.

For tech companies, he explained, it is about scalability, energy availability and cost efficiency. In terms of clean energy and data center projects, Mississippi’s grid capacity, its abundance of natural resources and land all work to the state’s benefit.

“Each project is different, and we treat each as such. One constant, we pitch though is how Mississippi gets more bang for the buck. We stretch capital farther and get companies up and running faster,” Cork said. “We tailor our presentations accordingly for each company we are working with, but our best-selling point, aside from the state’s competitive advantage, is the MDA team.”

Attracting companies requires an all in approach. Cork explained that MDA works with local and regional partners to showcase what the Magnolia State can and will do. Key among the “can-do” factors that potential investors find helpful is how state, regional, and local governments can remove obstacles and work with companies until all agreements are signed.

“We have a great team that is instrumental in ‘sealing the deal’ with our corporate partners,” he said.

At several press conferences and public speeches, Governor Tate Reeves has spoken about how Mississippi is near several major industrial hubs, which helps the state in gaining investors. Cork noted that its location is one of the state’s “greatest advantages,” which is leveraged in “nearly every conversation,” especially with global companies.

Mississippi is within a short drive from major industrial centers like Memphis, Atlanta, Dallas, Houston, New Orleans, and Birmingham.

“So, our location gives companies access to huge consumer markets, key suppliers, and advanced logistics infrastructure. An added bonus is that our prime location comes without the congestion and high costs associated with those metro areas,” Cork explained, noting, the closeness also means “companies locating in Mississippi can tap into existing regional supply chains, move products quickly to market and reach more than 75% of the U.S. population in a day by truck.”

Cork called Mississippi’s location a “game-changer” for speed to market, inventory control, and customer service.

“Regardless of the sector, that kind of access matters,” he said.

Another boon for Mississippi is the state’s southern ports. This is a major selling point for MDA, especially for companies with heavy shipping needs. The Port of Gulfport, Port of Pascagoula, and Mississippi’s other deepwater access points give the companies easy access to foreign markets. These ports, Cook said, help companies achieve one of the first rules of business – “time is money.”

“Speed to market is crucial, and our ports deliver,” he added.

Additionally, the ports aid the state’s strong multimodal infrastructure, such as rails, interstate highways, and international airports.

“When we talk to companies evaluating multiple states, the strength and accessibility of our Gulf Coast ports often tip the scales in our favor,” Cork said.

The executive director noted that not every company MDA tries to convince to invest ends up locating in Mississippi.  While MDA is “in it to win it,” he said no one state wins all the time in economic development.

“That’s just how it goes,” Cork said. “Companies all have the same key drivers: speed, risk, money, and intangibles. While we do our best to offer faster, risk-reducing and low-cost solutions, many things beyond our control influence decisions.”

Some factors out of their control includes proximity to suppliers and customers, available workforce, and cash incentives.

“Some states literally buy projects. We don’t,” Cork said. “That said, while we are a small state, we compete in the major leagues.”

In recent years, MDA has joined forces with other state agencies and higher learning institutions to attract investments, including AccelerateMS, the state’s community colleges, universities, and local leaders, to close the talent gap and train for specific skill sets.

“We aren’t just promising companies the people to fill jobs. We are preparing their workforce for them,” Cork said.

An example is Amplify Cell Technologies, a nearly $2 billion, 2,000-job EV battery plant that is locating in Marshall County. Through AccelerateMS and the local community colleges, custom training programs were established before the company even broke ground.

“We are responsive on the front end so when companies are ready to scale up, they know they have the talent nearby ready to step up and do the job well,” Cork said.