Mississippi ranks the worst in the US for business, according to CNBC study
Mississippi chambers of commerce will have an uphill battle recruiting new businesses this year. News outlet CNBC ranked Mississippi the worst state for business in its 15th annual study.
One contributing factor to the state’s dismal ranking is the size, skill level and education of its workforce.
“With one of America’s least educated and least productive workforces, and one of the worst rates of worker migration, according to Census data, Mississippi finishes at the bottom of CNBC’s annual state competitiveness rankings,” said Scott Cohn, CNBC special correspondent.
About 23% of Mississippians have a bachelor’s degree or higher and only 3% of the workforce is employed in STEM — science, technology, engineering and math — fields.
Of the 10 categories CNBC considered, the workforce carried the most weight in their decision.
The state’s infrastructure also played a part in the low ranking. According to CNBC, Mississippians spend more than 24 hours a year without power. Roads and bridges are in bad condition, power outages are common occurrences and only 59.1% of residents have broadband access.
Mississippi falls short in health, life and inclusion. For example, Mississippi is one of five states that do not protect non-disabled people from discrimination. In other words, there is no statewide law prohibiting discrimination on the basis of age, military status, gender, race, religion, sexual orientation and marital status.
In addition to Mississippi, the so-called public accommodation is nonexistent in Alabama, Georgia, North Carolina and Texas, according to the National Conference of State Legislatures.
“Mississippi’s legendary Southern hospitality is not always evenly applied,” said Cohn said.
The CNBC study also looked at the cost of doing business; the economy; technology and innovation; business friendliness; education; access to capital; and cost of living.
Mississippi’s one saving grace was its cost of living. Based on data from the Council for Community and Economic Research, the state has the lowest cost of living in the country. The Mississippi Coast reported the lowest cost of living in the state.
