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Mississippi Development Authority

MDASupporting the Growing Business Community of Mississippi

Economic Development in Mississippi

Mississippi has been at the forefront of state-level economic development in the United States since the mid-1930’s, which saw the passage of the Balance Agriculture with Industry Act in the Mississippi legislature. Developing the state economy continued to be a primary goal of both governors and legislatures, and eventually the Mississippi Development Authority (MDA) was created to oversee this development. MDA, an agency of the executive branch, is the Mississippi state governmental arm tasked with economic development in the state.
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Posted in 2015, Spring & Summer

Sanderson Farms

SandersonA Legacy of Leadership

Sanderson Farms is a success story that brings a note of pride to the manufacturing industry in Mississippi. What started as a Feed and Seed store in Brookhaven in 1947 is now America’s third largest poultry business, and is still growing. In 2014 Sanderson doubled their earnings with revenues of $2.775 billion. Today the company employs over 11,500 employees in eleven plants, including a new Palestine, Texas plant opened in February 2015.
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Posted in 2015, Fall & Winter

The New Markets Tax Credit Program (NMTC)

ButlerSnowHow manufacturers can subsidize project costs up to 25% in Mississippi

Most medium- to large-scale manufacturing projects require a combination of various incentives to fill a variety of financial gaps. Today’s traditional capital sources are not sufficient for project costs without a tremendous amount of developer equity. Obtaining certain subsidies, credits, or grants in connection with these economic development projects can often be the financial difference maker for an otherwise viable project. Upon learning that New Markets Tax Credit (NMTC) financing can create as much as a twenty-five percent (25%) subsidy for their project costs, many of our manufacturing clients initially ask, “Where is the catch?” While NMTC transactions involve a competitive marketplace for allocation and pose a somewhat daunting task, borrowers who reach financial closing are greatly rewarded.
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Posted in 2015, Spring & Summer

Preparing for Financial Due Diligence as a Business Seller

Taggart2Assisting the buyer by preparing for due diligence can help ensure a smooth, rewarding sale of your business.

For many business owners, the dreaded words “due diligence” send tingles up their spines. But if you survived the economic downturn and are considering selling your business in this more positive economic environment, you can make the due diligence process go much more smoothly by starting now and organizing the information that a potential buyer will want to review.

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Posted in 2015, Fall & Winter

Big Data Is a Big Deal to Mississippi Manufacturers

TeradataManufacturers are slowly coming around to the concept of Big Data and how it drives business. The adoption of Big Data best practices is already in place in other industries. Common adoption in manufacturing companies is inevitable as a way to solve business problems and effectively compete within their industry.

It’s hard to read much about information technology, analytics, and business intelligence without hearing the term “Big Data.” Unfortunately, it’s grown into such an amorphous term that it doesn’t mean the same thing to everyone. Is Big Data something that manufacturers should focus on? What is it, and how will it drive more profitable business?
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Posted in 2015, Spring & Summer

The 2015 Mississippi State Legislative Session

LegislativeAt the beginning of April, the Mississippi State Legislature adjourned sine die for the 2015 legislative session. It was an interesting session that saw a lot of legislation die due to party politics and the general feeling of not wanting to pass any controversial legislation in an election year. In the end, though, there were still plenty of successes for Mississippi’s manufacturers, as well as the overall business community.

Taxation

Franchise Tax

During the 2015 legislative session there was finally a movement among the political leadership to do away with the franchise tax. The franchise tax is defined by the MS Department of Revenue as “a tax imposed on corporations for the privilege of doing business in the State of Mississippi.” The estimated annual cost is $220 million, $45 million of which is paid by manufacturers. Lt. Governor Tate Reeves announced a tax cut plan in February that included a 10-year phase out of the franchise tax. LEARN MORE

Posted in 2015, Fall & Winter

Google Says It Is Time to Go Mobile Friendly, or Be Penalized

ThinkGoogleWill Your Website Lose Half Its Audience?

If you have been receiving mysterious notices from Google warning you that your website is not mobile friendly, you are not alone. The notice subject line may read “Fix mobile usability issues found on http://yourwebsite.com.” These notices have been going out for months to owners of websites that have Google Webmaster Tools integrated into their site. Google is warning users, not just that their websites are not built for today’s mobile devices, but that those websites will soon be penalized in Google searches from mobile devices.
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Posted in 2015, Spring & Summer