A massive in-migration of people and companies to the South in the past 30 years has positioned the South to rise again economically.
“It`s the South`s turn,” said Michael Randle, editor, publisher and owner of Southern Business & Development magazine based in Birmingham, Ala. “In the statistics, we lead all the other regions of the U.S. in every major category. What has occurred is this tremendous in-migration of industries from the North to the South, and people are going to follow the companies. That migration has created a diversification of industry in the South. Now we`ve got it all, virtually everything.”
The statistics show the South growing faster and attracting more new businesses by far than any other region in the U.S. Between 1991 and 1995, 4,612 business migrated to the South. That compares to the West, which attracted 441 new businesses. The Midwest lost 1,245 business and the Northeast lost 3,707 business, according to Dunn and Bradstreet.
“You have to find reasons for that,” Randle said. “The reasons are it`s cheaper and it`s better. It is less expensive to live and work in the South, and it is a better overall pro-business and quality-of-life environment. Of course, Mississippi is benefitting from that as is everyone else.”
Other statistical indications of the health of the Southern economy include the following: