Thursday, July 6, 2017

MS coast lags among key metrics

The Mississippi Gulf Coast’s economy continues to struggle to recover from Hurricane Katrina, Great Recession, and the BP Oil Spill, according to Mississippi Gulf Coast Business Council President Ashley Edwards, and continues to lag behind the state’s curve on significant economic indicators (sales tax revenues and median income). Hancock, Harrison and Jackson counties have not realized the economic momentum as other regions or the entire state. Economic data from FY 2010-16 appears to conflict with the perception that GC Mississippi - with its maritime and tourism industries - does better economically than the rest of Mississippi. Since 2010 (BP oil spill), coastal counties in Mississippi have seen a reduction in both manufacturing and non-manufacturing jobs (3,490 compared to an increase of 47,700 jobs across the state). There have been significant job losses in higher paying sectors in particular, Edwards claimed. (Source: Mississippi Business Journal 07/05/17)