No state offers lower costs than the Magnolia State, but innovation and business friendliness are in short supply.
Mississippi Score and Ranking
Category | 2021 Score | 2021 Rank | 2019 Rank | 2021 Grade |
---|---|---|---|---|
Cost of Doing Business | 268 | 7 | 6 | A- |
Infrastructure | 164 | 38 | 38 | D+ |
Life, Health & Inclusion | 145 | 37 | -- | D- |
Workforce | 132 | 41 | 42 | D- |
Economy | 96 | 42 | 50 | D+ |
Business Friendliness | 55 | 43 | 47 | D- |
Access to Capital | 70 | 32 | 42 | D+ |
Technology & Innovation | 39 | 48 | 48 | F |
Education | 58 | 43 | 44 | D |
Cost of Living | 75 | 1 | 1 | A+ |
Overall | 1102 | 45 | 48 |
Economic Profile
Governor: Tate Reeves, Republican
Population: 2,966,786
GDP growth (Q1 2021): 6.9%
Unemployment rate (May 2021): 6.1%
Top corporate tax rate: 5%
Top individual income tax rate: 5%
Gasoline tax: 18.79 cents/gallon
Bond rating (Moody's/S&P): Aa2, stable/AA, stable
Major private employers: Nissan North America, EastGroup Properties
Economic profile sources: U.S. Census Bureau, U.S. Bureau of Economic Analysis, U.S. Bureau of Labor Statistics, Federation of Tax Administrators, American Petroleum Institute (excluding 18.40 cent/gallon federal tax), Moody's Investor Service, S&P Global Market Intelligence