CDP

 

State Financing & Tax Credits

The Partnership helps businesses and industries identify and qualify for a multitude of incentive programs offered by the State of Mississippi. Here are some examples:

  • Jobs Tax Credit
    Credits can be applied to reduce state income tax liability for certain types of businesses. The credit amount ranges from 2.5% to 10% of payroll, depending on the county classification and number of jobs.
  • Industrial Property Tax Exemption
    Provides up to a 10-year exemption from property taxes for eligible industries.
  • Energy Investment Loan Program
    Provides loans for buildings or equipment up to $300,000 per business for a maximum of seven years. The interest rate is 3% below the prime rate.
  • Capital Improvements Revolving Loan Program (CAP)
    Provides loans to municipalities and counties for public facilities and infrastructure to assist with business relocation or expansion. Loans may not exceed $1 million per project. Loans may be for a maximum of 20 years; the annual interest rate is 3% for taxable activities and 2% for tax-exempt activities.
  • Community Development Block Grant Program
    Provides grants to municipalities or counties for infrastructure improvements to assist with the relocation or expansion of businesses. The maximum grant amount per project is $650,000.
  • Mississippi Business Investment Act Loan Program (MBIA)
    Provides funding for public infrastructure to municipalities and counties to assist with business relocation or expansion. Eligible projects can receive a loan for up to $15,000 per job created by the eligible business and is matched by $1 of state money to $3 of private investment by the eligible business. Loans can be for a maximum of 10 years.
  • Economic Development Highway Program (EDH)
    Provides grants to municipalities and counties for publicly owned roads and must be used in conjunction with the relocation, expansion, or construction of industry.
  • A comprehensive listing of available state tax incentives, grants, and loan programs is available on the Mississippi Development Authority website.

 

Incentive Resources

Mississippi Tax Incentives, Exemptions and Credits (PDF)

All state tax incentives, grants and loan programs

North Mississippi Industrial Development Association

Tennessee Valley Authority (TVA)

Community Development Partnership
256 W. Beacon Street
Philadelphia, MS 39350
601-656-1000
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