I spent a fair amount of time there in the late 1990s supporting a job at what was then Ingalls Shipbuilding and have recently been there supporting other work and was considering relocating there as well due to work.
What was said earlier is true, the area did not fare well after Katrina and there is still a lot of work to be done in the residential areas. Some of the nicer neighborhoods seem to have been rebuilt somewhat quickly and I was amazed at the other infrastructure that is also back, such as new hotels, restaurants and many stores.
The shipyard there is doing very well and they seem to have retained a lot of their good workers and have a pretty good outlook, it appears that the new parent company, Northrop Grumman, is investing a fair amount to keep them as a very technologically advanced yard.
When I was looking to move there, would have ended up either in Mobile or Ocean Springs due to the schools, not sure what the state of the schools are however post Katrina.
One thing I will say however is the people there are absolutely incredible, each time I have traveled to Pascagoula I have never felt unwelcome and really do look forward to an opportunity to return!!!