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Auto industry grows 64% in recent years, says MEC

Telesouth Communications Inc.

The Mississippi Economic Council has released a study that outlines the impact of the automotive industry on the state.

According to the study’s findings, the automotive industry is the fastest growing sector in the state, with a 64% growth between 2010 and 2016.

For every new job in the auto industry, two more are created, says MEC director Scott Waller.

“It just comes back to when you create these types of jobs,” says Waller. “Other things will come about because of it.”

Waller said not only does an auto facility require maintenance from workers in construction, sanitation, etc; the local area sees a boost in development, which opens more jobs and generates more local taxes.

The study showed that the auto industry in Mississippi accounts for an estimated $5.7 billion of the state’s GDP and nearly $570 million in local and state taxes.

The jobs created also tend to pay higher than the state’s average salary.

“It pays around $50,000 versus the average of just over $37,000.” said Waller.

Automotive facilities are branching out statewide, with a prevalence in 32 counties.

“It’s amazing when you think about it,” said Waller. “Roughly 40 percent of our state’s counties have a foothold in the automotive industry.”

To read the full report, click here.

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