Low unemployment rates, residential expansion, and business growth boosts Hattiesburg economy
HATTIESBURG, Miss. - According to President of the Area Development Partnership (ADP) in Hattiesburg, Chad Newell, Hattiesburg's drop in unemployment rate, residential expansion, and business growth has boost the local economy.
He said, "The three pillars of he
althcare, education, and the military keeps the economy strong." Newell said business developers are attracted to the city's residential expansion with its newly built homes and apartment complexes.
"They want to be in a progressive, pro-business environment, with a low cost structure, in a very pro-business government" added Newell.
The city recently opened new restaurants and an indoor trampoline park. "We have worked for companies that have created about 4,000 new jobs in the last 5 years." He said those companies have invested around $2 billion into Hattiesburg.
City officials will continue to build said Newell. "The Midtown Hattiesburg project in an exciting one, it is a $30 million hotel, retail, apartment, restaurant development that is moving forward."
In last 5 years Hattiesburg's unemployment rate dropped. "In our 2011 unemployment rate was over 9%, it has dipped to around 5.5%" added Newell.
"We just got a lot of commercial and resident activity at this point and it really shows that we have a strong, vibrant economy" Newell said.