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MBJ FEATURE

LAW ELEVATED — Opportunity Funds — The new tax bill’s incentive to spur investments into certain community development projects

The 2017 Tax Cuts and Jobs Act, enacted Dec. 22, 2017 (the “Act”), offers new tax incentives aimed at benefiting low-income communities (“LICs”) (as defined under the new markets tax credit (“NMTC”) regulations) through the creation of Qualified Opportunity Zones (“Opportunity Zones”).  Congress believes the Opportunity Zone legislation will encourage investments that will be used to start businesses, develop abandoned ...

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TODD SMITH: Apple TV app adds live news streaming

Apple has further expanded its TV application on iOS and tvOS. Following the addition of a dedicated Sports section a few months ago, users can now use the TV app to access live streaming news content from numerous sources. While not as extensive as the Sports section, the News section in the TV app allows users to instantly access live ...

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Sanderson profits boosted by $37.5 million tax reduction

A 14 percent-point reduction in federal income tax boosted Sanderson Farms Inc.’s first fiscal quarter’s net income by $37.5 million, the Laurel-based poultry processor announced Wednesday after close of the Nasdaq stock market. Thanks to that tax liability reduction, the company reported in a release that net income was $51.2 million, or $2.24 per share, for the quarter compared with ...

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C Spire trots out its 5G technology

By JACK WEATHERLY C Spire publicly tested its 5G ultra-fast fixed-wireless technology on Tuesday, and brought along an FCC commissioner to cheer it on. Brendan Carr, is in the 3-2 Republican majority that overturned the Obama-era imposition of rules intended to ensure a level Internet playing field and protection of consumers. Instead, Carr has said, the opposite happened. Investment and ...

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BILL CRAWFORD — Trumponomics may push national debt interest costs higher than Social Security and Medicare

Basic math and what the Wall Street Journal calls “Trumponomics” are headed for a brutal collision.   Here’s why.   The national debt is $20.6 trillion and rising. With rates low, annual debt interest costs averaged about $250 billion from 2011 through 2016. As the economy improved, interest rates slowly ticked up. But, now they are expected to surge as ...

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Teresa Hubbard named MBJ’s Business Woman of the Year

Teresa Hubbard, President & CEO of CITE Armored, was named Mississippi’s Business Woman of the Year for 2018 Thursday by the Mississippi Business Journal. Hubbard was joined by 10 finalists and 39 other honorees at an event at the Old Capitol Inn in Downtown Jackson. Hubbard has a broad range of experience that continues to enhance the success of the company she ...

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JACK WEATHERLY: ‘The Post’ is a retelling of history to shape the present

What’s the “back story” on the recent release of “The Post,” what amounts to a prequel of “All the President’s Men”? Good question. A newsroom has always been a stage that lends itself to dramatization. “The President’s Men,” released in 1976, is still a terrific movie, with Robert Redford and Dustin Hoffman playing Woodward and Bernstein in their landmark Watergate ...

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Blackburn Group and related companies have $100 million in real estate projects under development

By BECKY GILLETTE David Blackburn, 39, president/CEO, The Blackburn Group, LLC, Oxford, oversees quite an impressive array of developments for someone who is not yet 40. His company, which is the parent company of R.J. Allen & Associates, Inc., general contractors, Blackburn Communities, Fitness Holdings and other related development entities, is involved in some of Oxford’s largest residential, retail and ...

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Chawlas apply for $6 million rebate on luxury hotel in Cleveland

By JACK WEATHERLY Brothers Suresh and Dinesh Chawla have applied for a tax rebate from the state that would account for nearly a third of the $20 million luxury hotel they are building in Cleveland. The brothers, who own 17 hotels in the Delta, applied for the tourism rebate on Dec. 28 to defray costs on the Scion West End ...

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Smith Park: ‘We just felt like we had to do something’

By JULIA MILLER In the heart of downtown Jackson, Smith Park is getting a much-needed refresh after recent efforts to revitalize the historic area. “For 10 to 15 years, or even longer it’s been tired and has needed a major renovation,” said John Gomez, associate director at Jackson Downtown Partners. “We just felt like we had to do something.” For ...

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