THE INCREDIBLE ECONOMIC GROWTH OF TISHOMINGO COUNTY, MISSISSIPPI

 THE INCREDIBLE ECONOMIC GROWTH OF TISHOMINGO COUNTY, MISSISSIPPI

Tishomingo County is driving economic growth in Mississippi, according to the latest analysis from August 2023.

To understand the phenomenon, we will look in more detail at the characteristics of this county.

But we will also describe what is happening.

economic growth tishomingo county

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Demographic characteristics

The first point to note is a paradox regarding migratory movements in the state of Mississippi.

Because there was a population decline for Mississippi and Tishomingo County between 2010 and 2021.

However, it is interesting to note that all municipalities have experienced an increase in their population not only during this period, but are also expected to experience an increase in their population during the projected years between 2025 and 2030.

This suggests that while the more rural areas of the county are losing population, the more densely populated areas are experiencing population growth, for example, 3.5 percent for the city of Iuka over the period 2010 to 2030.

Or 75.5 percent for the town of Tishomingo.

Additionally, the county's most populous municipality (Belmont) is expected to experience a 58 percent population growth during this period.

It's safe to assume that residents are seeking a different lifestyle than those living outside the municipal boundaries. These more densely populated areas may offer closer friendships and relationships, conveniences to schools and stores, and more opportunities for civic engagement than other parts of the county.

The job application 

Tishomingo County, and more specifically the cities of Iuka and Belmont, generally have distinct competitive advantages in two specific areas:

Public services and durable goods manufacturing.

Not only do these sectors show significant strength in the county, but wages are much higher in these sectors than in other sectors in the county.

These sectors may also have a relatively mobile workforce, particularly at the managerial and professional/skilled level. This clearly indicates that there is potential demand for rental housing, particularly quality rental housing given average wage levels.

This is also reinforced by the number of jobs by industry in recent years.

Employment in the manufacturing sector as a whole increased by 12.9 percent (325 jobs) between 2016 and 2022. An interesting observation regarding these sectors can be found by examining the data from 2019 to 2021. While the manufacturing sector experienced a slowdown in 2020, likely due to the COVID pandemic, this sector began to rebound in 2021 and reached levels higher than those of pre-pandemic years in 2022.

Combined with relatively high employment levels in manufacturing, education services and government sectors, there is a strong possibility of significant potential demand for quality rental housing in the region.

Lessons from the economic trend (how to take advantage of it?) 

The two main municipalities of Iuka and Belmont are experiencing sustained growth for the next few years.

This analysis leads to several lessons:

The manufacturing sector is by far the largest employer in the area.

Due to a lack of supply and quality housing, many workers rent accommodation outside the county.

A significant population in the 35-44 age group and in the 45-54 age group. These age groups would likely include the age of technical and management workers arriving in the area.