STATE INCENTIVES

Incentives

Direct financial incentives are available through the Tennessee Valley Authority, the State of Mississippi, and local government. They include tax credits, tax exemptions, grants, and loans. In addition, local governments are eligible for funds to provide needed infrastructure upgrades.

Local Financial Incentives

Helping prospective or expanding industries work with local governments and agencies is a primary function of the Noxubee Economic and Community Development Alliance. The Alliance’s economic development director can

  • help facilitate infrastructure improvements,
  • address zoning issues,
  • assist with utility connections,
  • and arrange for workforce training.

State Financial Incentives

Tax credits, exemptions, and abatements, grants and loans, and funding for local infrastructure improvements are available from the State of Mississippi. A comprehensive listing of these incentives is available on the Mississippi Development Authority website.

The following partial listing highlights some of the most attractive programs available to industries seeking to locate or expand in Noxubee County.

Partial Listing of Tax Exemptions and Credits

The following partial listing highlights some of the most attractive programs available to industries seeking to locate or expand in Noxubee County.
Mississippi Growth and Prosperity (GAP) Program
Noxubee County is eligible to participate in the GAP Program administered by the Mississippi Development Authority. The program makes incentives available to private companies that locate or expand facilities in economically challenged areas of the state. Incentives include:

  • Exemption from state income, franchise, and sales or use taxes for 10 years for purchases of building materials not acquired through a contractor plus equipment for the initial construction or expansion of facilities. View the list of eligible equipment and more details.

  • Exemption from local property taxes for 10 years, except school taxes and taxes for fire and police protection. Special procedures are required to request exemption from municipal taxes in certain instances
Jobs Tax Credit

  • Credits that can be applied against state income tax are based on a percentage of eligible payroll each year for five years.

  • The business must must create and maintain 10 or more jobs in Noxubee County to receive a credit of 10% of payroll.

  • Only certain businesses are eligible
Advantage Jobs Incentive Program

  • To encourage job creation, this program allows for the rebate of a percentage of state payroll for qualified employers for up to 10 years.

  • Employee wages must must meet or exceed the average yearly wage of either the state or the county of residence, depending on which is lower
Manufacturing Investment Tax Credit

  • Investment tax credits may be applied toward state income taxes
Industrial Property Tax Exemption

  • Certain types of businesses can obtain an exemption from property taxes for up to 10 years, except for school district taxes.

  • Property including land, buildings, machinery, equipment, furniture, fixtures, raw materials, and work in process is generally eligible
Sales and Use Tax Exemption for Construction or Expansion

  • Manufacturers and custom processors that build new facility or expand an existing one may be exempted 100% of sales and use tax in Noxubee County.

  • Data and information-processing companies and technology intensive facilities may be designated to qualify by MDA.

Grants and Loans

The Financial Resources Division of the Mississippi Development Authority (MDA) administers grant and loan programs for industrial development and expansion.

In addition, the Mississippi Business Finance Corporation, a nonprofit organization, works with the MDA and other public and private organizations to help new or expanding industries meet their needs for financial resources. TheMBFC can provide data on most financial programs offered by various agencies. Opportunities include:

Infrastructure Enhancement

A number of programs are designed to help local governments cover all or part of the cost of infrastructure improvements needed to attract, retain, and accommodate industries. They include:

TVA Incentives and Services

A primary function of Tennessee Valley Authority Economic Development is to help industries seeking to locate or expand within its service area, which includes Noxubee County. Sources of financial assistance include

  • Enhanced Growth Credit, a program that provides credits on the electrical power bills of qualifying companies
  • Southern Appalachian Fund, which provides equity capital and operating assistance for small companies opting to locate in the area
  • Economic Development Funds, made available as loans for new industrial plants and for expansion and retention of existing industries
  • Meritus Ventures LP, a venture capital fund that invests in expanding small companies in southern Appalachia.

ARC Incentives and Services

A partnership of federal, state, and local governments, The Appalachian Regional Commission is a regional economic development agency serving portions of the 13 Appalachian states, including northeast Mississippi.

ARC funds projects designed to increase job opportunities, develop infrastructure, build out the Appalachian highway system, and strengthen the capacity of people to compete in the global economy.

Program grants are awarded to state and local agencies, governmental entities, and nonprofit organizations. Industries seeking to locate in Noxubee County may be able to benefit from these improvements. Grants can address a great diversity of needs; examples relevant to industry include projects ranging from broadband service expansion to highway, water, and sewer system improvements. Further information is available from the Grants and Funding page of the ARC website.

Workforce Training

A major component of East Mississippi Community College’s mission is to ensure that a labor force with the necessary skills is available to businesses and industries. The college’s efforts were recently held up as a statewide model of effectiveness to the Mississippi Legislature by the president of the Montgomery Institute.

To achieve that mission, the college’s Workforce Services coordinators work closely with businesses and industries to design and deliver training that matches the exact needs of the client. Learning methods include both lectures and hands-on training, drawing on the expertise of industry personnel, EMCC professionals, and subject-area experts. In FY 2008–09, EMCC Workforce Services delivered over 1 million hours of training to about 8,700 learners.

Classes regularly offered include many directly related to a specific industry and others aimed at improving students’ general employability. Examples are:

  • Computer operations and applications
  • Medical specializations
  • Safety, including first aid and CPR, OSHA 10-hour industry training, andOSHA forklift training
  • Manufacturing skills, such as sheet metal and riveting, avionics and cabling, composite manufacturing, M3 training, diesel theory, precision assembly, machining, mechatronics, and robotics
  • Technical maintenance and support skills, including residential and commercial electric, instrumentation and process control, construction techniques, welding, HVAC, AutoCAD, rigging, fluid power, EPA Freon, and industrial motor controls

University Outreach Services

The proximity of Mississippi State University to Noxubee County (a distance of about 25 miles) makes it especially convenient to take advantage of the university’s many valuable outreach services. These programs connect businesses and industries with faculty expertise and research capabilities at minimal or no cost.

Outreach programs operate in many different colleges of the university, from agriculture and business through engineering and forestry. The following are those likely to be of greatest interest to manufacturers and other industries in Noxubee County.

In addition to these units, many university departments can provide valuable expertise. For help in locating the most useful sources of information, assistance, consulting, analysis, or research, contact the university’s Resource Referral Center/Technology Resource Institute.