Local Incentives and Services
The Alliance team works closely with leaders in state and local government and at Northeast Mississippi Community College to address needs for infrastructure improvements, utility connections, zoning adjustments, and workforce services.
The Northeast Mississippi Business Incubation System (NEMBIS) was created to help new and growing businesses by providing office and manufacturing space, shared services and equipment, and professional and business counseling. The hub of the three-county system is a 64,000-square-foot facility in Corinth. Learn more about the Incubation System.
TVA Incentives & Services
Tennessee Valley Authority Economic Development offers a wide range of services to prospective industries seeking to locate within its service area, which includes Alcorn County.Â TVAED provides access to financial resources that include
- The Investment Credit is an economic development incentive program jointly offered by TVA and participating local power companies. This performance-based program rewards companies for the five-year economic and energy benefits associated with their new/expanded operations.
- Financing is available for companies from TVA Loan Funds to stimulate job growth and leverage capital investment. TVA seeks to fill a funding gap or lower interest costs of project funding, thereby enhancing the opportunity for success.
- Through the Performance Grant Program, TVA makes an investment in competitive economic development projects in the TVA region.
- The Security Deposit Coverage program gives qualifying businesses an alternative to tying up valuable capital as they locate or expand in the TVA region. It is available to new or expanding commercial and industrial electric customers through a partnership between TVA and participating local power companies.
Visit the TVA website for further information on Incentives and Services TVA can provide your business.
State Incentives and Services
The Alliance 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.
Numerous 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 for Economic Development
- Development Infrastructure Grant Program
- Economic Development Highway Grant Program
- Capital Improvements Revolving Loan Program
Some loan programs are available directly to businesses. For example:
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.
The Mississippi Department of Revenue provides helpful, detailed information about tax rates and incentives. For comprehensive listings of the options, download Mississippi Tax Incentives, Exemptions, and Credits (PDF, 2.9 MB).