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Economic Development

MATTHEW McLAUGHLIN — Entrepreneurship is the solution

Matthew McLaughlin In a LinkedIn article published by Michael Dell in 2014, he noted that between 1985 and 2005, the number of people living in poverty in the world was cut in half.  This happened to be the exact period in time when the use of a personal computer and server became affordable to a mass market.  Dell further pointed ...

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ALAN TURNER — The MCEE: Planting the seeds for success

ALAN TURNER The mission of the Mississippi Council on Economic Education is helping to educate young people about economics, finance, and business. There are many success stories of young folks who have been inspired to become economically literate, making important choices about their career objectives, and some who became successful entrepreneurs while still in high school. Others have developed a ...

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Mississippi: Ohio firm must pay $235,000 in failed expansion

Mississippi’s state auditor is demanding that an Ohio business pay nearly $235,000 over a failed business expansion. State Auditor Shad White says John Cullen must repay a $174,000 grant, plus $60,000 interest, to Mississippi or face a lawsuit. Cullen is CEO of Payliance Inc. of Columbus, Ohio. In 2010, he agreed to accept up to $400,000 in grant money from ...

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Mississippi says $9.8 million wagered on sports in 1st month

Mississippi officials say gamblers bet $9.8 million on sporting events from Aug. 1 through Labor Day. State Gaming Commission Director Allen Godfrey says that’s the total amount bet in the first 34 days of wagering in Mississippi. Casinos earn about 5 percent off bets, and Mississippi gets an 8 percent tax on the casino’s take. Sports betting has now expanded ...

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Credit rater takes brighter view of Mississippi finances

One of the nation’s three main credit rating agencies is feeling a little more confident about Mississippi’s financial picture. Standard & Poor’s Financial Services on Friday removed its negative outlook on Mississippi’s debt, instead raising the outlook to stable. Mississippi remains rated AA by Standard & Poor’s. Credit ratings can influence how much the state has to pay in interest ...

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ALAN TURNER — A strong dash of optimism

ALAN TURNER One can certainly find many opinions about the future of Jackson, and many of these are not exactly what we might think of a “sanguine.” However, there are others who are actually positive about some of the things going on in Jackson and Mississippi as a whole. One of those is newly appointed Regions Bank executive Robert Leard, ...

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GRAMMY Museum Mississippi has attracted 80,000 visitors since opening

By BECKY GILLETTE Emily Havens The GRAMMY Museum Mississippi, which opened in March 2016, has been a game changer not just for Cleveland, but the entire Delta music tourism scene. Asked if this has been as big a deal as anticipated, Cleveland Mayor Billy Novell answers unequivocally, “Absolutely! It has been better than anticipated. The Grammy Museum Mississippi is the ...

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Mississippi Angel Fund could become go-to-place for startups

By TED CARTER Tony Jeff Innovate Mississippi expects to boost investments in promising Mississippi startups through a regional angel-fund setup it says can make deals easier and more plentiful. Organizers of the Mississippi Angel Fund say they will invite the State of Mississippi to support the funds through tax credits or perhaps even through buying shares that would entitle it ...

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Mississippi, Japan have strong foundation

By CALLIE DANIELS BRYANT Glenn McCullough United States municipal and state officials are reaching out to Japan for economic opportunities and increased employment for the nation’s rural areas. Japan is the second largest foreign direct investor (FDI) in the United States, and the value of this country’s investments has grown to an estimate of $13 billion this year. Japan has ...

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LAW ELEVATED — Recent tax changes to encourage development & new investment

GRAY SWOOPE Wilson Montjoy Recent enactments of both the U.S. Congress and Mississippi Legislature have modified tax laws to encourage development and new investment. Reducing Fee-in-Lieu to $60 Million Enhances Economic Development Recruitment Tools, Mississippi has traditionally offered incentives for economic development, recognizing that new and expanding industries bring jobs and increased tax revenues, but that Mississippi must compete for ...

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