Mississippi Aims to Lure Factories From Other Countries

August 20, 2012 

STARKVILLE, Miss. — Mississippi spent 50 years poaching factories from the North with cheap land, labor and government incentives before hitting headwinds from China, where labor was even cheaper. 

But industry leaders say the Magnolia State and the rest of the country have a chance to reverse manufacturing losses.

Harry Moser, president of the Reshoring Initiative, said Monday at Mississippi State University that industries have mistakenly ignored many of the hidden costs of making goods for the American market overseas. He says increasing awareness of those costs, as well as increasing wages in China, are leading many companies to bring work back to the United States.

MSU is focusing on bringing back furniture and auto parts factories, saying the state can provide higher productivity and shorter delivery times than overseas factories. 

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Source:  CBS Money Watch