USM plans to diversify defense sector

The University of Southern Mississippi plans to use a $3 million grant from the Pentagon’s Office of Economic Adjustment to help diversity the economies of defense-dependent communities in Mississippi, and encourage businesses to transfer technology innovations into commercial opportunities. Under a third initiative, USM’s College of Business and the Trent Lott National Center for Excellence in Economic Development & Entrepreneurship will create a defense community specialization for a Master’s of Science Degree in economic development program. The defense industry is a major employer across Mississippi and includes aerospace, shipbuilding, and weapon systems. The largest sector is shipbuilding, which accounts for 13,063 jobs and more than $1.3 billion. USM will develop short-term and long-term economic strategies designed to minimize defense industry adjustments through data-driven courses of action. (Source: Association of Defense Communities 07/20/16)