The purpose of our local incentive fund is to strengthen local revenues from taxes and employ Mississippi County residents so that we maximize the return on our investment of these funds. This local incentive fund is available for qualified projects. Awarded incentives are negotiated based on performance for job growth, corresponding wages, and local hires. Funding can be used by companies to purchase land, buildings and develop infrastructure. Comprehensive agreements are approved by the Mississippi County Quorum Court and signed with awarded companies to ensure performance for the incentive.
In 2002, the citizens of Mississippi County voted for an additional 1/2 cent sales tax to create a fund that would be dedicated to economic development incentives for expansion of existing businesses and new business locations. Additionally, this funding can be used to match state and federal funds in order to purchase equipment, make infrastructure improvements, and support building costs in return for that industry’s creation of good paying jobs for our residents.
This local incentive fund has been strategically invested, improving our rate of business expansion or new industry location from once every four or five years to more than one company per year. See the full impact of our economic development recruitment and expansion efforts here.