Home » OPINION » Columns » MBJ Editorial
Pull factors indicate shifts in retail biz

MBJ Editorial

A recently-published report from the Institutions of Higher Learning’s Center for Policy Research and Planning indicates shifts in the retail pull factors of Mississippi counties.

Pull factors, which measure the market influence of a county’s retail trade industry, changed most significantly from 1994 to 1998 for Tunica, +98%; Lamar, +56%; and Issaquena, +45%. Fifty counties saw decreases during this same time period with Claiborne down 23% and Itawamba losing 18%.

In the metro Jackson tri-county area, Madison dropped 14%, Rankin increased 5% and Hinds fell 2%. The three Gulf Coast counties saw Jackson at +9%, Hancock at +1% and Harrison at +6%. A few other interesting findings: Neshoba, -1%; Panola, +25%; and Washington, -7%.

Pull factors (here’s the technical definition: the ratio of a county’s retails sales to the county’s total personal income divided by the ratio of the state’s retail sales to the state’s total personal income) are interesting statistics because they offer even the most casual observer a glimpse into a core economic factor: where people are spending their money.

Certain counties are becoming regional retail centers, enjoying the benefits of increasing sales tax collections, while other counties are losing business. And according to the center’s researchers: Pull factors can be used as an indicator of economic development. An increasing pull factor is a positive sign of the county’s retail strength relative to the state. A look at the trends of pull factors aid local officials in making decisions to recruit a specific type of business to an area.

The information provided by Center for Policy Research and Planning, including this latest pull factor data, is invaluable as we put economic development hype to the numbers. Doing the math, so to speak, gives us a good idea of where Mississippi really is economically.

BEFORE YOU GO…

… we’d like to ask for your support. More people are reading the Mississippi Business Journal than ever before, but advertising revenues for all conventional media are falling fast. Unlike many, we do not use a pay wall, because we want to continue providing Mississippi’s most comprehensive business news each and every day. But that takes time, money and hard work. We do it because it is important to us … and equally important to you, if you value the flow of trustworthy news and information which have always kept America strong and free for more than 200 years.

If those who read our content will help fund it, we can continue to bring you the very best in news and information. Please consider joining us as a valued member, or if you prefer, make a one-time contribution.

Click for more info

About Staff Writer

Leave a Reply

Your email address will not be published. Required fields are marked *

*