Tupelo Among Tops in Industry Investment
TUPELO, Miss. (Press Release) — The Tupelo region has been named to Site Selection magazine’s list of the most active micropolitan areas for new and existing industries in the country. Tupelo ranked second in the nation out of nearly 576 micropolitan areas designated by the United States Census Bureau.
“This is only possible because of the partnerships that have been formed between the Mississippi Development Authority and Tennessee Valley Authority economic development officials,” said Darrell Rankin, President, Lee County Board of Supervisors. “We are truly appreciative of everyone who worked on our behalf to achieve this success for Tupelo, Lee County, and our region as a whole.”
Tupelo attained this ranking by recording 19 new and expanding industry projects in 2013, with companies such as Ashley, General Atomics, Tecumseh, Advanced Innovations, and Cooper Tire & Rubber Company. These projects created over $78 million in new capital investment and over 900 new jobs with over $27 million in new annual wages paid to local workers.
“Community Development Foundation’s program of work provides a long term development strategy and organization to produce more and better jobs for the area,” said David Rumbarger, President and CEO of the Community Development Foundation. “This is wonderful recognition of the commitment and long term planning done by private and public leaders is truly paying off.”
According to the U.S. Census Bureau, a micropolitan area is a largely rural economy that includes a city of at least 10,000 people, but less than 50,000, and covers at least one county.
By Dennis Seid/The Daily Journal
Tupelo is the No. 2 micropolitan for new and expanded corporate facilities in the country, according to the latest Site Selection.
The magazine annually rates metropolitans (cities with populations from 200,000 to 1 million) and micropolitans (cities of 10,000 to 50,000).
Ahead of Tupelo was Wooster, Ohio., topping the nation’s 576 micropolitan areas. After Tupelo were Cullman, Ala.; Findlay, Ohio; and Morgan City, La. Ohio led as the state with most Top Micropolitans.
It’s not the first time Tupelo has been recognized as a top micropolitan. It also was ranked No. 2 in 2006.
More from Site Selection on other awards:
The Top Metros for new and expanded corporate facilities for 2013 were led by Chicago-Naperville-Elgin, Ill.-Ind.-Wis., among metro areas with populations over 1 million and Omaha-Council Bluffs, Neb.-Iowa. Sioux City, Iowa-Neb.-S.D.; Altoona, Pa., and Dubuque, Iowa tied for first among areas with populations between 50,000 and 200,000. Full lists of the Top 10 Metros in each population category appear below.
Also, Texas and Nebraska won the 2013 Site Selection Governor’s Cup. This year marks the inauguration of a second Governor’s Cup, recognizing the state with the most qualifying new and expanded facilities per capita, which Nebraska claims for its capital investment activity in 2013. Texas wins for its claim to having the most qualified projects of any state – the traditional measure – with 657.
The 60-year-old Atlanta-based magazine has awarded the Governor’s Cup annually since 1988 to the U.S. state with the most new and expanded corporate facilities as tracked by Conway Data Inc.’s New Plant Database. Site Selection, published by Conway Data Inc., is the senior publication in the corporate real estate and economic development fields and is the official publication of London-based Red Hot Locations and the Industrial Asset Management Council ( www.iamc.org). Site Selection’s yearly analyses are regarded by corporate real estate analysts as “the industry scoreboard.” The magazine’s circulation base consists of 45,000 subscribers, most of whom are involved in corporate site selection decisions at the CEO/President/COO level.