Emphasis on existing industry

By Staff
May 23, 2004
On Tuesday, Gov. Haley Barbour and Insurance Commissioner George Dale will join experts in Meridian to focus on one of Mississippi's great untold stories: the value of existing business and industry in creating new jobs.
The spotlight always shines on the rare multibillion-dollar projects Nissan in Canton comes to mind that attract global media attention and provide thousands of workers with jobs at wages that are well above average. Maybe the spotlight shines so brightly because these projects are so rare.
But economic development professionals have figured out that the vast majority of new jobs up to 80 percent that will be created in Mississippi will be created by existing businesses and industry. It is imperative that the state's economic development program provide as much assistance as possible to businesses that are already churning out paychecks, products and services.
How to best nurture existing companies is the basic idea behind the second annual Existing Industry Summit sponsored by the East Mississippi Business Development Corp. The program will unfold Tuesday at Mississippi State University-Meridian Campus' Kahlmus Auditorium beginning at 8 a.m.
It's geared toward mapping out how the EMBDC can help local businesses solve problems, continue to survive and expand. Issues on the agenda include tort reform, environmental permitting, workforce development and the cost of insurance, which were identified by EMBDC's Existing Industry Committee as major issues.
The trials faced by existing businesses and industry in this global economic climate are many and we are pleased that EMBDC is taking a leadership role in identifying problems and, hopefully, offering some solutions.
While major new industrial projects should always be welcomed into a community, working more closely with existing industry is a wise move.