How much manufacturers in Mississippi spend on equipment [Video]

Equipment enables manufacturers to create almost every modern product, from the clothes on our backs to the cars we drive.

Acquiring the latest equipment and machinery consumes more than three-quarters of American manufacturers’ annual capital budgets, Census Bureau data shows. U.S. manufacturers spent more than $135 billion on new and used equipment and machinery in 2021, according to the most recent Annual Survey of Manufactures. In all but one state, these expenses comprised more than 60% of manufacturers’ annual capital expenses.

Machinery Partner analyzed equipment spending among manufacturing companies in Mississippi as part of a larger national analysis, using 2021 data from the Bureau of Labor Statistics.

Manufacturers in Mississippi spent $1.6 billion on equipment in 2021, comprising 83% of their overall capital expenditures. Equipment is one of two major capital expenditure …