RELEASE
Wicker Recognizes Automotive Industry as an Economic Powerhouse in Mississippi
New Report Shows Industry Has Created 55,000 Jobs, Contributes $5.7B to State Economy
WASHINGTON – U.S. Senator Roger Wicker, R-Miss., today issued the following statement regarding a report examining the economic footprint of the automotive industry in Mississippi. The report found that the automotive industry is responsible for creating 55,000 jobs in the state and contributes an estimated $5.7 billion to the state’s gross domestic product.
“Automotive manufacturers have confidence in our state and in our workforce. This report demonstrates just how much these industry investments matter to our communities and the well-being of Mississippians,” Wicker said. “With facilities operating in 32 counties and employing thousands of Mississippians, automotive manufacturers and their suppliers have transformed our state’s economic growth and development over the past 15 years.
“I will continue to support pro-growth policies at the federal level that support American manufacturing and give our workers the resources and training they need to do the job.”
The study was conducted by the independent National Strategic Planning & Analysis Research Center (NSPARC) at Mississippi State University and released by Move Mississippi Forward and the Mississippi Economic Council.
Other key findings from the report:
For every new job in the automotive industry, two new jobs are created in other sectors.
Employment in the automotive industry, the fastest-growing industry in the state, increased by more than 64 percent between 2010 and 2016.
Earnings in the automotive industry are 1.34 times greater than the state average ($50,510 vs. $37,642).
The automotive industry accounts for an estimated additional $568 million in local and state tax revenue.
7/26/17
Magnolia Tribune
