Please note that this post contains affiliate links and any sales made through such links will reward MageeNews.com a small commission – at no extra cost to you.
While New York and California are losing residents, states like South Carolina and Alabama are gaining population at a record pace – and alongside that growth, it is southern states like ours that are generating some of the most impressive economic numbers in the country.
A recent JL Partners poll found that 36 percent of Americans now expect the South to lead economic growth over the next decade. That puts it well ahead of the West Coast (23 percent), the Northeast (21 percent), and the Midwest (19 percent). Young graduates are even more bullish: nearly four in ten name the South as the region most likely to grow fastest in the coming decade.
The data backs up the optimism.
Real GDP growth in 2024 tells the story clearly. Mississippi and South Carolina grew at 4.2 percent. Alabama and Arkansas at 3.8 percent. Tennessee at 3.0 percent. All surpassed the national rate of 2.8 percent. Between 2020 and 2024, 78 percent of all U.S. jobs added to the economy were located in the South. The region’s population has grown by seven million since 2020 — and the pace appears to be accelerating.
Manufacturing is a key part of the picture. U.S. industrial output has roughly doubled since the Reagan era, and much of that expansion went South rather than overseas. Alabama alone has added over 50,000 auto jobs since 2000. Combined, Alabama and Mississippi now produce more vehicles annually than Italy or the United Kingdom.
Finance is following manufacturing. Charlotte, Dallas, Miami, and Nashville have become major financial hubs. JPMorgan Chase now employs more people in Texas – around 31,000 – than in New York.
Even higher education is shifting. SEC universities have seen a 91 percent surge in out-of-state undergraduate applications between 2014 and 2023, with many of those students coming from the Northeast.
What explains it?
The answer is policy. Southern states like Mississippi have built environments that are straightforwardly more attractive for businesses and workers alike.
Taxes are lower. Several southern states have no income tax — Texas, Florida, and Tennessee among them – while Mississippi and South Carolina are on a path to eliminating theirs entirely.
Regulatory burdens are lighter: South Carolina recently repealed a range of Certificate of Need rules that had constrained its healthcare economy, a stark contrast to California’s expanding compliance requirements.
Labor markets are more flexible, with most southern states operating as right-to-work states. Occupational licensing restrictions are being reduced, making it easier for people to enter the workforce. And electricity costs are significantly lower, in part because the South never adopted the rigid renewable mandates that have driven up prices in the Northeast and California.
This is, in many ways, a natural experiment in governance. Fifty states, trying different approaches side by side – and some are producing markedly better results than others. The South appears to have found a formula that works.
None of these policy wins happened by accident. They were the result of years of sustained advocacy – and you have been a vital part of that. Your support has helped make the case for lower taxes, lighter regulation, and greater economic freedom. The results speak for themselves.
MageeNews.com is the online news source for Simpson and surrounding counties as well as the State of Mississippi
