Archive for the ‘BANKING & FINANCE – Market Sector’ Category

District at Eastover takes shape with financing in place, tenant signings under way

by Ted Carter Published: February 28,2014

Tags: Business, Eastover, Fondren, JACKSON, Mississippi

Developers of the $115 million District at Eastover mixed-use development say financing has been secured and a groundbreaking is imminent for the project that was to start construction last summer. Ted Duckworth, a principal of The District Land Development Co., is promising to bring a combination of shops, restaurants, hotel, theater, offices and loft residences […] [...]

Pat Thomasson named MBJ’s 2014 Businesswoman of the Year

by Ross Reily Published: February 27,2014

Tags: Business, businesswomen, Mississippi, Mississippi Business Journal, women

Thomasson Company CEO Pat Thomasson has been named the Mississippi Business Journal’s 2014 Businesswoman of the Year. The announcement was made during a ceremony Thursday at the Hilton of Jackson. Becoming the leader of a company her parents built, however, was rather humbling for Thomasson. The Thomasson Company provides pressure treated utility poles of varying […] [...]

UPDATED: House subcommittee tosses discrimination elements from religious freedom bill

by Ted Carter Published: February 26,2014

Tags: Arizona, Business, Jan Brewer, Mississippi, Phil Bryant

The Mississippi House of Representatives Civil Subcommittee late Wednesday voted to strike provisions of a so-called “religious freedom” bill that the ACLU and other legal experts said invites widespread discrimination, especially against gay, lesbian and trans-gender people. The action came on Senate Bill 2681, a measure approved 48-0 on Jan. 31 and sent on to […] [...]

Louisiana bank eyeing expansion into Mississippi

NATCHEZ — Vidalia, La.-based Delta Bank has filed applications to the Louisiana Office of Financial Institutions and FDIC to open a full-service branch in Natchez. The branch is expected to open in the next three months pending regulatory approvals and will offer a full line of financial products and services. The branch will be located […] [...]

Wholesale bank reports record earnings — again

AUSTIN, Texas — Farm Credit Bank of Texas (FCBT), a cooperatively owned wholesale bank that provides funding for rural retail lenders, has released preliminary unaudited financial highlights and results for the year ended Dec. 31, 2013, reporting record earnings for the eighth consecutive year. The Austin-based bank reported $179.8 million in net income in 2013, a 3.0 […] [...]

Banking at the Post Office — Payday lenders more accepting of idea than bankers

by Ted Carter Published: February 21,2014

Tags: banking and finance, Business, economic development, Mississippi, Post Office

The U.S. Postal Service may soon take financial services where traditional banks are no longer eager to be — low- and moderate-income neighborhoods in Mississippi and elsewhere around the country. Savings accounts, debit cards and small loans would become as common place at some post offices as Forever Stamps and parcel packages. Advocates for people […] [...]

MDA tabs nine industrial sites for development grants

by For the MBJ Published: February 21,2014

Tags: Brent Christensen, Business, Marlo Dorsey, Mississippi

The Mississippi Development Authority has awarded nine site development grants to economic development entities throughout the state. The matching grant program assists nonprofit economic development organizations or local governments in preparing available greenfield sites for industrial development. The program is open to all economic development organizations and units of local government. The MDA’s Grants Review […] [...]

Automotive industry driving manufacturing activity in Mississippi

by Lisa Monti Published: February 21,2014

Tags: Automotive, Business, economic development, Mississippi

Mississippi’s thriving automotive industry gave the state a boost in employment during January, according to a monthly survey of manufacturing activity in the southeastern states. The Southeast Purchasing Managers Index released by Kennesaw State University reported increased employment and finished inventory in the state. The survey also found that commodity prices increased in January. Overall, […] [...]

MEC disputes DOR’s costs estimate on business tax bills

by Ted Carter Published: February 21,2014

Tags: Banking & Finance, economic development, Legal Affairs, Mississippi Economic Council, Politics

A price tag of $7.5 million this year and $25 million next year accompany a pair of pro-business tax apportionment bills that have cleared Mississippi’s House and Senate with overwhelming support. The Republican-sponsored measures, HB 799 and SB 2487, force the Department of Revenue’s to justify basing a multistate company’s taxes on revenue generated in […] [...]

Bank cooperative sees record earnings — again

AUSTIN, Texas — Farm Credit Bank of Texas (FCBT), a cooperatively owned wholesale bank that provides funding for rural retail lenders, has released preliminary unaudited financial highlights and results for the year ended Dec. 31, 2013, reporting record earnings for the eighth consecutive year. The Austin-based bank reported $179.8 million in net income in 2013, a 3.0 […] [...]

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