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. TVAED provides access to financial resources that include

• economic development funds available as loans to manufacturing and other industries for new industrial plants as well as expansion and retention of existing industries
• an Enhanced Growth Credit program that provides credits on power bills to qualifying companies that locate or expand in the Tennessee Valley
• the Southern Appalachian Fund, providing equity capital and operating assistance for small companies locating in the area
• the Meritus Ventures LP venture capital fund, which invests in small but expanding companies in southern Appalachia.

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.

The Mississippi Development Authority (MDA) administers or coordinates many incentive programs. For the latest detailed information, see the incentives section of the MDA website.

Over 20 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.

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, 1.7 MB).