| (cont.) MATERIALS OVERVIEW |
| Incentives |
...While money may not be the most important reason a company moves or
expands, it’s certainly a crucial part of the equation. Mississippi has proven to be
a competitive state when it comes in incentives.
...The state received a dramatic new tool with passage of the Gulf Opportunity
Act of 2005, called GO Zone, designed to help the recovery of areas hit by
hurricanes Katrina, Rita and Wilma. In Mississippi, 47 counties qualify for the
incentives, which encourages investment by companies large and small, pre-
existing and new.
...Mississippi can issue $4.8 billion in tax exempt, private-activity bonds to
finance development of a wide array of commercial projects in the GO Zone.
The money can be used to fund the construction and renovation of non-
residential real property. In lieu of bond money, a company can take accelerated
depreciation.
...Qualified GO Zone property is placed in service equal to 50 percent of the
cost. This is in addition to the normal depreciation. Bonus depreciation is
available to businesses of all sizes for their investments in equipment, non-
residential real property or residential rental property, substantially all of which is
used both in the active conduct of the business’ trade or business and in the GO
Zone. Eligible personal property must be placed in service on or before Dec. 31,
2007. List of incentives-granting organizations.
expands, it’s certainly a crucial part of the equation. Mississippi has proven to be
a competitive state when it comes in incentives.
...The state received a dramatic new tool with passage of the Gulf Opportunity
Act of 2005, called GO Zone, designed to help the recovery of areas hit by
hurricanes Katrina, Rita and Wilma. In Mississippi, 47 counties qualify for the
incentives, which encourages investment by companies large and small, pre-
existing and new.
...Mississippi can issue $4.8 billion in tax exempt, private-activity bonds to
finance development of a wide array of commercial projects in the GO Zone.
The money can be used to fund the construction and renovation of non-
residential real property. In lieu of bond money, a company can take accelerated
depreciation.
...Qualified GO Zone property is placed in service equal to 50 percent of the
cost. This is in addition to the normal depreciation. Bonus depreciation is
available to businesses of all sizes for their investments in equipment, non-
residential real property or residential rental property, substantially all of which is
used both in the active conduct of the business’ trade or business and in the GO
Zone. Eligible personal property must be placed in service on or before Dec. 31,
2007. List of incentives-granting organizations.
| Workforce |
...Mississippi is a right to work state with competitive wage rates – average
hourly earnings are roughly 75 percent of the United States average – directly
corresponding to the state’s lower-than-average living and business costs. The
state has work force training programs designed to guarantee a new or
expanding company has the workers needed to get the job done.
...Mississippi offers training at little or no cost through the state’s community
college system and other training locations.
...The program includes customer-designed pre-employment training, post-
employment training and upgrade/retraining services for new, expanding or
existing industries through the Workforce Education Program in conjunction
with the community college system. Pre-employment training can be done at the
plant site, at the community or junior college campus, in a mobile unit or at
another designated facility. The cost of each program is negotiated based on
required training needs of each industry.
...A program that can be leveraged with the Workforce Education Program is
the federal government’s Workforce Investment Act. Through WIA’s on-the-
job training program, the employer may be reimbursed up to 50 percent of the
wages for new workers for up to six months. When participants complete the
training, the employer may realize additional savings through a tax credit under
the Targeted Job Tax Credit Program.
Next: Part III Lists
hourly earnings are roughly 75 percent of the United States average – directly
corresponding to the state’s lower-than-average living and business costs. The
state has work force training programs designed to guarantee a new or
expanding company has the workers needed to get the job done.
...Mississippi offers training at little or no cost through the state’s community
college system and other training locations.
...The program includes customer-designed pre-employment training, post-
employment training and upgrade/retraining services for new, expanding or
existing industries through the Workforce Education Program in conjunction
with the community college system. Pre-employment training can be done at the
plant site, at the community or junior college campus, in a mobile unit or at
another designated facility. The cost of each program is negotiated based on
required training needs of each industry.
...A program that can be leveraged with the Workforce Education Program is
the federal government’s Workforce Investment Act. Through WIA’s on-the-
job training program, the employer may be reimbursed up to 50 percent of the
wages for new workers for up to six months. When participants complete the
training, the employer may realize additional savings through a tax credit under
the Targeted Job Tax Credit Program.
Next: Part III Lists
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| Copyright 2006-2007, Mississippi Gulf Coast Alliance for Economic Development |