CDF logs another 'terrific year' for economic development

Yahoo

09-05-2025

TUPELO – It was another great year for economic development in Lee County and Tupelo. That was the consensus from leaders at the annual Community Development Foundation open house, as it continued its long-held strategy to recruit and retain business and industry.
Last year was another example of maintaining the course. For the 15th time since 2005, the Tupelo region was ranked as a Top 10 micropolitan, an admirable feat during times of economic uncertainty. Inflation has leveled off and prices have fallen in some key areas, but tariffs throw another cloud of uncertainty into the equation.
Still, last year, the CDF helped steer more than $260 million in capital investment in Tupelo, a 157% increase from a year earlier.
Via eight new and expanded industry announcements, 460 jobs were created, and $20.5 million in new payroll along with it.
"It was a terrific year," said David Rumbarger, president and CEO of CDF. "With companies like Liebherr coming to Lee County, existing companies like General Atomics and Grammar and other businesses expanding, Amazon taking the building in Turner Industrial Park, it's been quite a year."
Rumbarger said only the first phases of some of the companies mentioned were announced, and subsequent phases could be coming down the line.
"And of course, you had Ashley that hired 500-600 last year, too," he said. "We're kind of on a roll at this time."
Swiss construction equipment maker Liebherr is building a $176 million logistics center in The Hive industrial complex, and is expected to be fully in operation by the first quarter of 2027.
"They'll begin to look at hiring by the end of this fall, and their management will be on site in May/June, so they'll be participating in a lot of community activities and doing some pre-planning, training development with ICC, that sort of thing," Rumbarger said.
Elsewhere, the Amazon "last-mile" facility in the Turner Industrial Park is well underway and should be functional by the holiday shopping season, he said.
Meanwhile, a 96,000-square-foot shell building is under constitution in the Harry A. Martin North Lee Industrial Park, and a prospective tenant has a letter of intent to fill it. Rumbarger said the unnamed company is evaluating exactly what it wants to do, but he is optimistic it will commit.
Also, the CDF's Chamber of Commerce division saw 120 new members added, along with 65 ribbon cutting and 50 CDF events.
Kurt Shettles, this year's CDF chairman, has been a part of CDF for 15 years. He said the organization has helped his business grow. Shettles is president and CEO of McCarty Architects.
"CDF has helped nurture me along the way, and I want to help anyway I can in this position," he said. "Our community is so blessed to have these leaders and volunteers, community folks who have paved the way. And if we can continue that Tupelo Spirit, we're happy to do that."
Shettles said membership in the CDF is beneficial to his firm, helping his and other small businesses grow.
"We always want to catch that big fish, but CDF also understands our local economy is based on small businesses," he said. "It's been supportive of me for a long time, and I'm happy to do what I can for them."
Past chairman Charlie Kirk said the work of the CDF staff is the reason why the community has remained an economic magnet.
"I really hope that everybody understands the benefits when CDF is successful," he said. "Whether it's tourism, whether you're a restaurant owner, a commissioned salesman, I mean everybody benefits from their work."
The Chamber of Commerce also named Jennifer Lansdell as its 2024-2025 Ambassador of the Year.