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ECONOMIC Impact of business Closure in Claiborne County, Mississippi

Abstract

Historically Claiborne and other counties in the region depended on small-scale agriculture and was an attractive location for light manufacturing. Today, many of these advantages have been lost and firms that made up the bulk of the economic activities in the areas are disappearing in large numbers. Hence, per capita income falls and people migrate to more prosperous areas, leaving the region deeply depressed. Using descriptive as well as inferential methods to analyze data, results show interesting trends, especially with regard to business migration. Socioeconomic variable are largely responsible for business closure that have seriously devastated the economic well-being of the county. This means that every effort should be made to improve social conditions and improve the educational system.

ECONOMIC Impact of Business Closure in Claiborne County, Mississippi

Introduction:

Traditionally, Mississippi is one of the poorest states in the United States with agriculture as the mainstay of the economy. It is the second in the nation in cotton production exceeded only by Texas. Mississippi is also the world’s largest producer of pond-raised catfish and the leading shrimp producing state in the U.S.A. The comparative underdevelopment of the state has been worsened in recent years by the closure of several manufacturing businesses both during the periods of economic boom and especially so during the economic downturn.

Hypothesis:

The general objective of this study is to establish predominant reasons for the closure of major jobs providing industries in Claiborne County. I believe the general cause of business closure is that per capita income dictates the purchasing power of the community which does impact business closure based on information obtained from former business owners....
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