New Albany is 14th city to join the program to attract retirees
New Albany has been named Mississippi’s newest certified retirement city under the Welcome Home Mississippi (WHM) program. Administered by the Mississippi Development Authority, the goal of WHM is to attract retirees from around the country to communities throughout the state.
“New Albany joining the Welcome Home Mississippi community gives retirees another great reason to come to Mississippi. Mississippi is the perfect place to retire with a significant low cost of living, as well as welcoming communities,” said MDA Deputy Director Laura Hipp. “New Albany offers an array of shopping in its vibrant downtown and numerous outdoor activities.”
A July 2019 study conducted by Alan Barefield, Ph.D., and Kalyn Coatney, Ph.D., of the Department of Agricultural Economics at Mississippi State University, revealed that in 2017, the economic impact of the Welcome Home Mississippi program was significant, especially in the communities engaged in the program. Incoming retirees contributed $25.9 million to the state’s economy, and more than 200 jobs were created. The economists estimated that in 2017, 434 sectors of the state’s economy experienced increased output as a result of the program.
In addition to the economic impact retirees have in their communities, they contribute in numerous other ways, including volunteering in and contributing monetary donations to local churches, schools, agencies and arts/cultural organizations. In turn, the study concludes the WHM program is a valuable asset to the state.
New Albany joins the cities of Aberdeen, Brandon, Cleveland, Clinton, Hattiesburg, Madison, Natchez, Oxford, Picayune, Southaven, Starkville, Tupelo and Vicksburg in the WHM program.
The program will be managed locally by the community development division of the city of New Albany.