As part of his Energy Works: Mississippi's Energy Roadmap plan, Governor Phil Bryant recently signed into law landmark legislation that positions Mississippi as a leading destination for energy-related economic development. These sensible, forward-thinking approaches to energy policy also position Mississippi as a state that welcomes a diverse mix of investment in the energy sector.
"Mississippi's diversity of energy resources and infrastructure makes us a significant energy state and an ideal location for businesses," Governor Phil Bryant said. "Energy-sector economic development is a primary focus of my administration, and the passage of these laws will increase Mississippi's competitiveness when attracting and recruiting new industries."
Mississippi's energy production is one of largest economic engines in the state, providing more than 28,000 jobs. Mississippi produces approximately 23 million barrels of oil a year and ranks 13th in oil production. The state also ranks 21st in natural gas production.
Legislation signed into effect includes:
Governor Bryant tasked the Mississippi Development Authority with executing his strategies for energy-related economic development. MDA promotes the state's energy-related economy utilizing four targeted approaches: Responsible Resource Exploration and Extraction; Energy-Intensive Industry Recruitment; Energy Systems Component Manufacturing; and Biomass Development.
"Energy costs and availability of resources are often deciding factors for companies seeking a location for new investment, and these laws passed by the State Legislature will tremendously assist our economic development efforts moving forward," said Brent Christensen, MDA executive director. "I commend Governor Bryant and our legislative partners for being so hands-on and dedicated to the economic development of Mississippi. The passage of these new laws will greatly benefit the state's existing businesses while further positioning Mississippi as the optimal place for energy-related industries and manufacturing companies to locate."
"Manufacturers use more than one-third of the energy consumed in the United States. In a globally competitive marketplace, these legislative actions support our existing manufacturers and increase our competitive position for domestic and international companies that are considering a U.S.-based location," said Mississippi Manufacturers Association President and Chief Executive Officer Jay Moon.
To learn more about energy initiatives in Mississippi, please visit www.mississippi.org/energy-works. To learn more about the benefits of a Mississippi location, please visit www.mississippi.org/locate-in-mississippi/.
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