Hattiesburg, Mississippi is a vibrant city located in the southeastern region of the United States. Known for its rich history, diverse culture, and strong sense of community, Hattiesburg is also home to a thriving business scene. As an expert in the field of business development, I have had the opportunity to closely observe and analyze the businesses in Hattiesburg, MS and their impact on the local economy.
The Business Climate in Hattiesburg
Hattiesburg has a strong and growing economy, with a wide range of industries represented. The city's strategic location along major highways and railroads makes it an ideal location for businesses to establish themselves and thrive.In addition, Hattiesburg is home to two major universities - the University of Southern Mississippi and William Carey University - which provide a steady stream of highly educated graduates to the local workforce. The city's business-friendly policies and low cost of living also make it an attractive destination for entrepreneurs and small business owners. In fact, according to the U. S. Small Business Administration, there are over 6,000 small businesses in Hattiesburg, making up 99.3% of all businesses in the city.
The Top Industries in Hattiesburg
While Hattiesburg has a diverse range of industries, there are a few that stand out as major contributors to the local economy.These include healthcare, education, manufacturing, and retail.
Healthcare
is one of the largest industries in Hattiesburg, with several major hospitals and medical centers located in the city. These include Forrest General Hospital, Merit Health Wesley, and Hattiesburg Clinic, which collectively employ thousands of healthcare professionals and contribute significantly to the local economy.Education
is another major industry in Hattiesburg, thanks to the presence of two universities and several community colleges. In addition to providing quality education to students, these institutions also create jobs and attract talent to the city.Manufacturing
is a significant contributor to Hattiesburg's economy, with companies like Kohler Engines, PepsiCo, and Georgia-Pacific operating manufacturing facilities in the city. These companies provide employment opportunities for thousands of residents and contribute to the city's tax base.Retail
is also a thriving industry in Hattiesburg, with several shopping centers and malls located throughout the city.These include Turtle Creek Mall, Bonita Lakes Mall, and Midtown Market, which offer a variety of retail options for residents and visitors alike.
The Impact of Businesses on the Local Economy
The businesses in Hattiesburg play a crucial role in driving economic growth and creating job opportunities for its residents. According to the Hattiesburg Area Development Partnership, businesses in the city have created over 20,000 jobs in the past decade alone. This has not only reduced unemployment rates but has also increased the city's per capita income. In addition, businesses in Hattiesburg contribute significantly to the city's tax revenue, which is used to fund public services and infrastructure projects. This allows the city to continue developing and improving its amenities, making it an even more attractive place for businesses to operate.The Future of Businesses in Hattiesburg
As Hattiesburg continues to grow and develop, so does its business landscape.The city's economic development efforts, coupled with its business-friendly policies, are attracting new businesses and encouraging existing ones to expand. This is evident in the recent influx of new businesses in the city, including restaurants, retail stores, and professional services. In addition, the city's focus on promoting entrepreneurship and supporting small businesses through initiatives like the Hattiesburg Entrepreneur Center is creating a favorable environment for startups and fostering innovation in the local business community.
