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For New Industries

State of Mississippi Incentives

The state of Mississippi through the Mississippi Development Authority offers incentive programs to businesses locating or expanding in the state. There are tax incentives, grants, and loans available.

Tax Exemptions & Incentives

The following is a sampling of available tax exemptions and incentives offered by the state of Mississippi. View the full list of available tax incentives and exemptions on the MDA website.

Advantage Jobs Incentive Program
Provides for a rebate of a percentage of Mississippi payroll to qualified employers for a period of up to 10 years. Available to businesses that create a certain number of jobs at a designated average wage depending upon the level of the county.

Industrial Property Tax Exemption
Provides an exemption from property taxes for up to 10 years for eligible industries locating or expanding in the state.

Jobs Tax Credit
Provides income tax credit equal to a percentage of payroll forĀ  a 5-year period to eligible businesses creating a minimum number of new jobs, depending on the level of the county.

National or Regional Headquarters Sales Tax Credit
Provides a sales and use tax exemption to eligible businesses that create or transfer their national or regional headquarters to Mississippi. Available for component building materials, machinery, and equipment. 35 new headquarters jobs must be created.

National or Regional Headquarters Tax Credit
Provides an income tax credit between $500 – $2,000 per position for new headquarters jobs. A minimum of 35 new headquarters jobs must be created in a one-year period.

Sales and Use Tax Exemption for Construction or Expansion
Provides a sales and use tax exemption for eligible businesses that construct a new facility or expand an existing facility in the state. Amount of exemption depends on the location of the facility.

Skills Training Income Tax Credit
Provides income tax credits to eligible businesses that offer training to their employees in Mississippi. Training must be offered by or approved by the community or junior college in the district where the business is located as well as Mississippi Department of Revenue. Credit is 50% of expenses incurred, not to exceed $2,500 per employee/year.

Loans and Financing

The Mississippi Business Finance Corporation (MBFC), which is the financing arm of the Mississippi Department of Economic and Community Development, administers the following loan and financing programs. The following is a sampling of available financing.

Industrial Development Revenue Bond Program
Taxable and tax-exempt bonds available to eligible businesses. Reduces the interest costs of financing.

Mississippi Rural Economic Development Assistance Program
Enhances projects financed through Industrial Development Revenue Bond Program. Provides income tax credits and ad valorem exemptions to qualified businesses

Local Incentives

The TAP Alliance team works closely with leaders in state and local government to address needs for infrastructure improvements, utility connections, zoning adjustments, and workforce services.

General Obligation Bonds
Local political entities have the authority to issue G.O. bonds for the purpose of acquiring publicly owned land, buildings, and infrastructure for economic development projects. Requires legislative approval, must be an eligible business.

Ad Valorem Tax Exemption
Each County Board of Supervisors exempts real and personal property taxes for new and expanding industries on an individual basis as requested and upon need verification. Priority is given to businesses that are bringing new or expanded job opportunities to the county. Exemptions include but are not limited to buildings, land, equipment, fixtures, raw goods, goods in process, and finished goods. Exemptions are granted for a term of up to 10 years. These tax relief provisions exclude exemption from school taxes and road-and-bridge taxes.

Local Industrial Development Revenue Bonds
Local political entities in Mississippi, including counties, supervisors’ districts, incorporated cities and towns, have the authority to issue tax-exempt and taxable industrial development revenue bonds to finance new or expanding industrial enterprises.

Tennessee Valley Authority Programs

Businesses in the Tennessee Valley Authority’s region may be eligible for economic development programs provided by TVA. These include energy cost savings, loans, resources, and more. Learn about available TVA economic development incentive programs by visiting the NMIDA website.

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