CANTON — Since the Nissan plant opened here in 2003, the automotive manufacturer has made a tremendous impact on the local and state economy, a new report by Move Forward Mississippi shows.
The tremendous value of Nissan was put down on paper, demonstrating the effect the plant has had on Madison County and Mississippi. The research shows that not only has Nissan helped the citizens of its community, but it has also put Mississippi on the map for other major manufacturing companies and opportunities.
For this study, Nissan’s data went into a model that produced an estimated impact on the county and state.
Madison County is now the highest-earning county in Mississippi, with median family revenue having increased to $75,673 in 2014. The national average is $65,443. Madison County has also become one of the fastest-growing areas in the state. Since 2003, Madison County has seen almost 30,000 new residents.
Accordingly, the construction of more than 13,000 new housing units has been documented in Madison County, according to the U.S. Census Bureau.
Ken Oilschlager, Interim Executive Director of the Madison County Economic Development Authority, said, “I was out of state when Nissan was located here, but I’m tickled they came. When I first moved here in 1997, Madison County was still heavily agricultural and had moderate retail based on the population. We identified a potential industrial corridor from Gluckstadt to Canton. It was an excellent area for industrial-type development.”
The Nissan Canton plant has the ability to produce 450,000 vehicles per year and employs 6,400 people. Another 2.9 jobs are created throughout the state for every one job created within the Nissan plant.
It is estimated that $300 million in local and state tax revenue and $2.6 billion in disposable income is associated with the presence of Nissan in Mississippi. It is estimated too that Nissan generates $2.9 billion to the annual state GDP (gross domestic product).
Over the last 13 years, manufacturing companies from all over the United States and the globe have followed Nissan’s example by branching into Mississippi. These include Toyota, Airbus Helicopters, Steel Dynamics, PACCAR, Yokohama, and Continental Tire.
Oilschlager said, “You can look at the total employment at Nissan, look at the growth coming up the interstate, look at the data in the study. The whole footprint of their activities and their manufacturing facilities has created some really positive statistics. I’m not surprised at the results of the study. I knew it was going to be tremendous, because I’ve lived that scenario before. I think the growth indicated in the study will certainly continue to increase.”
Madison County’s population growth rate is ranked third in Mississippi. The percentage of people in poverty in Madison County was 13.1 percent in 2014. In comparison, the state average of people in poverty is 22.6 percent and the national average is 15.1 percent.
In a similar vein, the unemployment rate in Madison County has improved to a truly impressive 3.7 percent, officials said. That number is strikingly less than both Mississippi overall at 6.6 percent and that of the national average at 5.5 percent.
“Nissan has given away $12 million in corporate contributions to improve the lives of our citizens,” said Co-Chair of Move Mississippi Forward, the Rev. Dr. Dolphus Weary. “In the last two years alone, the company has provided $500,000 to Mississippi historical black colleges and universities, $500,000 to the Canton Public Schools for the Interventionist program, and $400,000 to the Dolly Parton Imagination Leadership program.”
Debra McGee, Senior Vice President and Director of Minority Business Development at BankPlus, said, “My association with Nissan began when we opened our bank location at the site of the facility in Canton, Mississippi. I was lucky because I got to see firsthand the impact an automotive manufacturing facility can have on the lives of those working there.”
The study, performed by the National Strategic and Planning Analysis Research Center (NSPARC) at Mississippi State University, shows that not only has Nissan introduced Mississippi as a business center on a global scale, but the plant has also worked to improve the lives of the people in its neighborhood. Nissan’s impact on Madison County demonstrates an upward trend in business and lifestyle.
This trend will continue to grow with increasing opportunities for the state, thanks to Nissan’s investment in its community, according to the report.
