Local Incentives
Local governments, utility providers, community college, along with PCDA offer several local incentives for prospective industries as well as existing industries. These local incentives are recognized as:
- Propety Tax Exemptions
- Utility Credits
- Waiver of Fees
- Assistance in Grant Applications
- Infrastructure Assistance
Contact PCDA for more info on local programs
TVA Valley Incentive Program
Tennessee Valley Authority Economic Development offers a wide range of services to prospective industries seeking to locate within its service area as well as those existing industries that are making capital investments to facilities within its service area. Prentiss County is in that service area and is served by a local power distributor, Prentiss County Electric Power Association. On average, PCEPA’s electrical rate is 10% lower than other areas in TVA’s territory.
- TVA has economic incentive programs that are administered as:
- Loans
- Grants
- Credits
State Incentives and Services
PCDA works with businesses to identify and apply for a wide array of incentive programs offered by the State of Mississippi and allied agencies.
The North Mississippi Industrial Development Authority (NMIDA) is an excellent source of assistance with incentive programs. NMIDA is a partnership of the Tennessee Valley Authority and electrical power providers in northern Mississippi.
The Mississippi Development Authority (MDA) administers or coordinates a wide range of incentive programs. Several are listed below:
- Many tax exemptions, incentives, and credits are offered, including these examples:
- Industrial Property Tax Exemption
- Advantage Jobs Incentive Program
- Manufacturing Investment Tax Credit
- Sales and Use Tax Exemption for Construction or Expansion
- When improvement of local infrastructure is important to help new or expanding businesses, communities can apply for a number of grants and loans, including these examples:
- Community Development Block Grant Program
- Community Development Block Grant Loan for Economic Development
- Development Infrastructure Grant Program
- Economic Development Highway Grant Program
- Capital Improvements Revolving Loan Program
- Mississippi Business Investment Act Loan Program
- Some loan programs are available directly to businesses. For example:
- Energy Investment Loan Program
- Existing Industry Productivity Loan Program
- Job Protection Loan Program
The Mississippi Business Finance Corporation (MBFC) works in coordination with state and local economic development agencies, local governments, and financial institutions to administer finance programs and provide a one-stop source of information on all available financial programs for new, existing, and expanding businesses.