McRae: Developing Mississippi’s Economy
Note: The following column is provided by State Treasurer David McRae’s office.
By: Treasurer David McRae
I loved how Gov. Tate Reeves summarized our economy during his recent State of the State Address: “[Mississippi] is based on timeless economies. Agriculture and Forestry. Manufacturing and Industry. Tradesmen, craftsmen, cultivators, and workers dominate our land.” And in today’s chaotic global environment, that is a solid foundation on which to stand.
Afterall, regardless of the global dynamics, the world will need food to eat, lumber to build shelter, and tradesmen to fix and create; all of this can be secured here in Mississippi.
To maintain these industries and grow our economy even further, however, investments must be made – investments that I think of in three different ways. First and foremost, we must invest in the workforce needed to grow. To help do just that, the Mississippi Treasury recently expanded our education savings program’s mission to not only include those interested in four-year degrees, but also those interested in the trades.
We now have programs designed to help students seeking apprenticeships, two-year degrees, and certification programs. After all, these are the building blocks, not only of our state’s economy, but of a solid career path for the individual. Consider this, an affordable community college degree can produce electricians whose average salaries are around $62,000 per year and dental hygienists whose salaries average nearly $100,000 per year. That’s a good living – and a good life.
Secondly, we need to invest in the companies and job creators who are already thriving in Mississippi. It is my fervent belief that if there is an unnecessary regulation which stands in the way of progress, we need to cut the red tape. If there’s a needless federal policy stopping local businesses from growing, we need to fight it. If there’s something we – as state leaders – can do to keep young minds in Mississippi and attract hardworking families to our state, we need to do it.
Finally, we need to continue attracting growth industries to our state. There is no doubt that the world and its economy are evolving. Mississippi must keep pace. After all, we will all rise on the tide of success.
I am incredibly proud of the state we all call home. I believe in our people, in our resources, and in our way of life. Let’s continue to nurture the root industries on which Mississippi’s families and livelihoods stand today, while also developing a new generation of “timeless” economies that can support our children and their children after them.
For more information on Mississippi’s College and Career Savings program, please visit treasury.ms.gov.
Mississippi Treasurer David McRae is the 55th Treasurer for the State of Mississippi. In this role, he helps manage the state’s cash flow, oversees College Savings Mississippi, and has returned more than $85 million in unclaimed money to Mississippians. For more information, visit Treasury.MS.gov.
