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Banking & Finance

Mississippi poised to receive more than $2 billion

As a result of President Barack Obama’s American Recovery and Reinvestment Act pouring an unprecedented $787 billion into the United States economy, an estimated $2.8 billion of those stimulus funds is projected for the State of Mississippi for a variety of needs, including healthcare, transportation and public education. Several areas in the state expected to receive money include: n $484.1 ...

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Recovery act gives SBA tools to boost small business

The Obama Administration and SBA are determined to employ the American Recovery and Reinvestment Act (Recovery Act) in an effort to make a big dent in the small business credit crunch and jump-starting job creation, re-starting lending and promoting investment in small businesses.  The impact from some of these programs is already being realized.  The Recovery Act provides SBA $375 ...

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Schools have rare opportunity for investment

According to the most recent data from the National Assessment for Educational Progress, or NAEP, Mississippi’s students lagged sorely behind the national averages. Furthermore, Mississippi is repeatedly criticized for having lower statewide expectations compared to national standards. As an example, while Mississippi’s fourth-grade reading scores in 2007 indicated that 90 percent of students were performing at grade level, NAEP results ...

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Focus on projects that can be classified as ‘shovel-ready’

The current level of interest in federal grants is unprecedented. With the nationwide recovery program promising to distribute billions in every sector of the economy from healthcare, to education, energy, infrastructure and beyond, the possibilities are many, and the competition is steep.  The first key toward successful funding under the American Recovery and Reinvestment Act (ARRA) is to focus on ...

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What the Average Joe needs to know about the stimulus package

Back on Feb. 17, 2009, President Obama signed into law the American Reinvestment and Recovery Act of 2009 (ARRA), widely known as the “stimulus package.”  This name represents the stated intent of the legislation — to stimulate a sluggish U.S. economy by fighting unemployment, putting more money in the hands of consumers and assisting state and local governments through these ...

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Infrastructure improvements

MDOT has stimulus projects scattered all across Mississippi   The American Recovery and Reinvestment Act of 2009, also known as “the stimulus package,” is an economic stimulus package enacted by Congress and signed into law by President Barack Obama in February 2009. The Act of Congress is intended to provide a stimulus to the U.S. economy in the wake of ...

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Qualified school construction bonds building Mississippi schools

The American Recovery and Reinvestment Act (ARRA) of 2009 created a new financing opportunity for school districts called Qualified School Construction Bonds (QSCBs).  QSCBs are tax credit bonds.  Rather than receiving interest payments, bond holders receive tax credits from the federal government.  These tax credits are intended to equal the interest that the school district would normally pay on the ...

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How stimulus funds can foster economic development

The American Recovery and Reinvestment Act of 2009 (ARRA) is filled with potential economic development opportunities for you and your industry.  However, due to the length and complexity of ARRA, it can be difficult to pinpoint incentives that will most benefit your business.  We hope our analysis of the provisions of ARRA will help maximize positive opportunities for Mississippi companies. ...

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Block Grant Program aimed at conservation

Mississippi is receiving $9.6 million for energy efficiency Mississippi is receiving $9.6 million in funds designated to make state, county and city governments more energy efficient by reducing total energy use and fossil fuel emissions. The federal stimulus bill, the American Recovery and Reinvestment Act (ARRA), has allocated the money to the Community Development Block Grant Program (CDBG) that will be ...

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Energy plan a win-win for everyone

Mississippi’s plan will help public and private sectors save energy dollars Some economists are predicting the end of the recession late this year or early next year. But, it is hoped that the benefits of Mississippi’s State Energy Plan (SEP) will continue to pay dividends in the form of lower energy bills for many years to come. The U.S. Department ...

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