Incentives

Helping businesses take advantage of available loans, grants, tax credits or abatements, and other incentives is a key service of the MCIDA staff. We also work with elected officials and other leaders at all levels of government to help industries with infrastructure needs, targeted workforce training, and other services that can be keys to success in a new location.

Local Incentives

Marshall County offers every local-option tax incentive available in Mississippi, loan programs for new and expanding businesses, and other forms of assistance. Among the offerings are:

• General obligation bonds
• Industrial revenue bonds
• Basic engineering assistance
• Soil borings and phase-one environmental studies
• Assistance in obtaining Community Development Block Grant (CDBG) and Tennesee Valley Authority (TVA) loans
• Assistance with zoning issues and utility connections

Visit the Mississippi Development Authority, North Mississippi Industrial Development Association, and the Tennessee Valley Authority websites for more detailed information.

State Incentives

MCIDA works in partnership with a number of Mississippi agencies to help businesses and industries identify and qualify for a multitude of incentive programs offered by the state.

The North Mississippi Industrial Development Association, a partnership of the Tennessee Valley Authority and northern Mississippi’s power producers, is a good source of expert information on state and local incentives.

The Mississippi State Tax Commission provides valuable information about tax incentives and rates. For detailed listings of available options, download the publication “Mississippi Tax Incentives, Exemptions, and Credits.”

The Mississippi Development Authority (MDA) is a key source of assistance. For the latest information, see the MDA’s listing of available tax exemptions, incentives, and credits. Examples include:

• Mississippi Business Investment Act Loan Program
• Mississippi Major Economic Impact Authority
• Economic Development Highway Grant Program
• Development Infrastructure Grant Program
• Energy Investment Loan Program
• Capital Improvements Revolving Loan Program
• Community Development Block Grant Program

The MDA’s Financial Resources Division provides assistance with loans and grants for development and expansion projects.

The Mississippi Business Finance Corporation (MBFC), a public, nonprofit corporation, partners with the Mississippi Development Authority, financial institutions, local governments, and local economic development agencies to assist businesses in locating or expanding in the state. MBFC administers a variety of finance programs and provides companies an opportunity to review all financial programs through one source. Programs offered include:

• Gulf Opportunity Zone Act of 2005
• Industrial Development Revenue Bond Program
• Mississippi Small Enterprise Composite Program
• Mississippi Small Enterprise Development Finance Program
• Mississippi Rural Economic Development Assistance Program
• Mississippi Loan Guarantee Program

Workforce Training

Through the federal Workforce Investment Act of 1998 (WIA), adults and dislocated workers age 18 and over receive increased levels of service via WIN Job Centers. WIA established these centers as a “one-stop” delivery system that provides core (basic) and intensive employment services as well as access to other employment and training services.

Northwest Mississippi Community College operates three full-time and three part-time WIN Job Centers in Calhoun, DeSoto, Lafayette, Marshall, Tate, and Yalobusha counties. An access point center (Internet access only) is located in Benton County at Ashland.