Economic Development

Maintaining an efficient filing system is critical to the administration and monitoring of your project. A successful monitoring experience hinges on the quality with which the grantee maintains its filing system and the ease of obtaining information from those files. When establ…

These guidelines may be amended by MDA at any time. MDA, at its discretion, may temporarily waive any requirement of the guidelines to the extent that the result of such waiver is to promote the public purpose of the Act and is not prohibited by State Law. Program Contacts. With …

Eligible recipients include a Main Street Designated Community that is a good-standing member of the MMSA (Mississippi Main Street Association), has obtained Section 501(c)(3) tax-exempt status or Section 501(c)(6) tax-exempt status from the Internal Revenue Service and possesses…

The intent of the Act is to make grants available to selected Main Street Designated Community programs for projects that will lead to the revitalization of Mississippi's downtowns. Eligible costs for the expenditure of grant funds include the acquisition of land and any improvem…

The MMSA shall accept applications from eligible recipients, prioritize their applications and submit a list of suggested recipients to the Legislature no later than December of each year. The Legislature will review and determine the projects for which to award grants to the sel…

The Mississippi Development Authority will provide grant funds to the Main Street Designated Communities on a reimbursement basis, not to exceed Five Hundred Thousand Dollars ($500,000.00) per community each year. Grantees shall not receive compensation for their required twenty …

All grant recipients entering into grant agreements with the Mississippi Development Authority must represent and warrant that they will ensure compliance with the Mississippi Employment Protection Act and will register and participate in the E-Verify System, the federal employme…

Grant Agreements require repayment of funds by grantees if the grant was based upon fraudulent information provided by the applicant or the applicant fails to meet performance metric requirements as described in the grant agreement. Notes 6 Miss. Code. R. 4-13.7 Senate Bill 2359,…

Grants may be awarded for prospective purchases or for acquisitions of which the applicant has closed. In the latter case, the applicant shall demonstrate: A. The closing occurred no more than twelve (12) months prior to the date of application for the grant; and B. The subject p…

The application must be submitted by deadlines and procedures established by MMSA and include the following: A. The name, address, and contact information of the applicant and the benefiting entity, if different; B. A detailed description of the project and a narrative explaining…

The Mississippi Rural Impact Fund Program (RIF) administered by the Mississippi Development Authority (MDA) is designed to assist and promote businesses and economic development in rural areas by providing grants and loans to rural communities (Local Entities) and loan guarantees…

The program intent is to stimulate job creation and economic development in rural communities in the State. A grant amount of $250,000 or a loan amount of $350,000 will be the maximum for any rural community. A maximum of $350,000 will be allowed on 80% loan guarantees to rural b…

A Grant and/or Loan Agreement will be executed between the Rural Community/Business and MDA. The Agreement must be signed within one month of the grant award date. MDA will release Mississippi Rural Impact Program funds for services rendered, or on a reimbursement basis, for appr…

Funds provided under the Mississippi Rural Impact Program are subject to audit by the State Department of Audit. Additionally, MDA will also monitor all projects to ensure compliance with the original application submitted. MDA intends to use up to three percent (3%) of the Rural…

These guidelines may be amended by MDA at any time. MDA, in its discretion, may temporarily waive any requirement of the guidelines to the extent that the result of such waiver is to promote the public purpose of the Act and is not prohibited by State law. Notes 6 Miss. Code. R. …

A rural community must submit an application to the MDA. An eligible rural community and business are defined as follows: A. Rural Community: a municipality with a population of 10,000 or less, according to the most recent federal decennial census, at the time the application is …

Eligible projects financed with RIF must be publicly owned with the exception of loan guarantees to rural businesses. All contracts and purchases must be made in accordance with normal bid and purchase laws of a municipality or county. Eligible projects include, but are not limit…

Gaming and utility businesses. Notes 6 Miss. Code. R. 4-2.4 Miss. Code Ann. § 57-85-1 etseq. (Rev. 2008)

Eligible Projects must have a direct connection in creating jobs. RIF may be used for general expenditures in an amount not to exceed three percent (3%). (For example: $250,000 x .03 = $7,500). A limited amount of funds may be used for engineering, architectural, attorneys, consu…

The application that is submitted by a local entity must include: A. Purpose of the proposed grant and/or loan including a detailed list of the request; B. A Description of the proposed project; C. The estimated cost of the total project by major category (e.g. engineering, legal…

For Rural Business Loan Guarantees, the business must provide the following: A. Credit reports and personal income tax records on all investors with twenty percent (20%) or more investment in the company; B. A description of the collateral with the appraised value, acquisition pr…

Initially, any local unit of government seeking funding should set up a meeting or conference call with the RIF staff. At this meeting or conference call, the following information should be presented: A. Project description B. Preliminary budget Based on this meeting or conferen…

The process used for evaluating, selecting, and funding applications is based on the following: A. Eligibility B. Project readiness C. Company's financial condition One (1) original and one (1) copy of the application must be submitted to the Community Services Division of MDA, R…

The Local Governments Capital Improvements Revolving Loan Program ("CAP") administered by the Mississippi Development Authority ("MDA") is designed for making loans to counties or municipalities ("Applicant") to finance capital improvements in Mississippi. Applicants are encourag…

Funds provided under the CAP Loan Program are subject to audit by the MDA, Office of the State Auditor, Department of Environmental Quality and/or Department of Health. Notes 6 Miss. Code. R. 4-3.10 Miss. Code Ann § 57-1-301 et seq (Rev. 2014). Amended 2/6/2016 Amended 8/1/2021…

An Applicant which fails to meet repayment obligations shall cause all or part of its sales tax allocation and/or homestead exemption reimbursement to be withheld and may be subject to other penalties as set forth in Miss. Code Ann., Section 57-1-303(4) (Rev. 2014). The Applicant…

Applicants should be aware that interest begins accruing daily on the outstanding loan balance after the first request for cash is dispersed. Once the CAP activity is complete, the applicant will be responsible for the first month's payment and interest plus the total of accrued …

Invoices will be sent to communities with an active CAP loan status. Failure to submit timely payments will prohibit that community from other MDA assistance until the loan is no longer delinquent. In addition, the following procedures will take place: A. If a community is 60 day…

A. Remediation of brownfield agreement sites in accordance with Sections 49-35-1 through 47-35-25 may be considered as an eligible project. B. Loans for remediation of brownfield sites in accordance with Sections 49-35-1 through 49-35-25 shall not exceed $250,000.00 per site. C. …

Companies are required to ensure compliance with the Mississippi Employment Protection Act ("MEPA"), Miss. Code. Ann. § 71-11-3 et seq., and must register and participate in the status verification system for all newly hired employees. The term "employee" as used herein means any…

Application for assistance must be submitted by the governing authority of the county or an incorporated municipality. Notes 6 Miss. Code. R. 4-3.2 Miss. Code Ann § 57-1-301 et seq (Rev. 2014). Amended 2/6/2016 Amended 8/1/2021

Projects that are eligible for assistance must be for capital improvements in Mississippi's counties and municipalities: A. Construction or repair of water and sewer facilities; B. Construction or repair of drainage systems for industrial development; C. Improvements in fire prot…

A. The Applicant must fulfill the requirement of the standard application, which must be Submitted to MDA for review and acceptance. B. The Applicant may only submit one project per application. C. The construction or renovation of economic development buildings for speculative p…

The Applicant must be an incorporated municipality or a county. Notes 6 Miss. Code. R. 4-3.5 Miss. Code Ann § 57-1-301 et seq (Rev. 2014). Amended 2/6/2016 Amended 8/1/2021

A. A certified copy of the Resolution of Intent from the Applicant must be submitted. (All Applicants must use the Public Notice Form provided by MDA.) B. In order for MDA to consider eligibility for a CAP loan, the Financial Analysis Worksheet must be completed, signed and the o…

A. Community Development related projects are defined as non-job creating projects that benefit a need in a community unrelated to economic development. Project loan awards will be limited to $1,250,000.00 per project or $1,250,000.00 per applicant, per calendar year. Loans for c…

The term of any loan must be reasonable and shall not exceed 20 years. The loan amount allowed will be determined by the Applicant's ability to repay the loan within acceptable terms. The rate of interest on all CAP loans is calculated according to the actuarial method. CAP loans…

Under the 2005 Regular Legislative Session, $2,500,000 shall be used only to provide loans to the counties and incorporated municipalities for remediation of a brownfield agreement sites under Sections 49-35-1 through 49-35-25. Notes 6 Miss. Code. R. 4-3.9 Miss. Code Ann § 57-1-3…

The Mississippi Development Infrastructure Program (DIP), administered by the Mississippi Development Authority (MDA) is designed for making grants or loans to counties or municipalities (Local Sponsors) to finance infrastructure projects to promote economic growth in the State o…

All contracts and purchases must be made in accordance with normal bid and purchase laws of a municipality or county. Notes 6 Miss. Code. R. 4-4.10 Miss. Code Ann. § 57-61-36 (Rev. 2014). Amended 10/20/2016 Amended 7/26/2017

The Mississippi Development Authority (MDA) encourages the maximum opportunity for increased participation by local Minority and Women-Owned Business Enterprises (MBE/WBE) in the procurement of goods and services. The Mississippi Development Authority Minority Business Division a…

The Community Services Division requires all grant recipients to receive approval prior to making contract amendments, modifications or extensions. Grant recipients must submit correspondence and documentation associated with the request, signed under the original signature of th…

A. A grant agreement or loan documents will be executed between the local sponsor and MDA. All funds awarded must be spent for improvements within the scope of the original project description as stated in the grant or loan application. B. All funds will flow through the grant re…

A. DIP funds are requested by using the Request for Cash and Consolidated Support Sheet. These forms can be found on MDA's website as a single excel file titled "Request for Cash". The Request for Cash form provides the necessary information about the recipient, project and budge…

It is the grant recipient's responsibility to ensure the benefitting business is in compliance with all guidelines, jobs (created and maintained) are documented and benefitting business investment is met. If DIP funds are released and the project does not materialize or the benef…

The benefitting business will have four (4) four years from the effective grant date to create jobs and make the private capital investment. An employee roster will be obtained at the site visit. This will be used as MDA's basis for job creation. Once the total number of jobs inc…

All open Economic Development projects are required to submit job reports twice a year until all job commitments have been met. Grant recipients should submit the Economic Development Jobs Report form and a dated and certified employee roster at the beginning of the year and the …