Valuable incentives and services are available to industries that locate or expand facilities in Winston County:
- county and state loan programs
- tax abatements and credits
- a business incubator service
- assistance and funding for infrastructure improvements
- specialized workforce recruitment and training programs
- outreach and extension services from nearby universities
Helping companies access these benefits is a primary function of the Winston County Economic Development District Partnership (“The Partnership”). For assistance, just contact us.
Winston County offers valuable services and opportunities for new and expanding businesses:
- The Partnership coordinates between local governments and industries to expedite infrastructure improvements, zoning issues, and access to utilities and other services.
- The county provides incentives tailored to specific project needs, including tax abatements on real and personal property.
- The Winston County Business and Industry Incubator (WCBI) provides affordable space, shared equipment and services, and mentoring for young and start-up businesses.
- Winston County Development, Inc., provides funding and other types of support for new or expanding small businesses.
Selected State of Mississippi Grants, Financing, Tax Credits,
The Partnership helps businesses and industries identify and qualify for a multitude of incentive programs offered by the State of Mississippi. Here are some examples:
- Jobs Tax Credit
Credits can be applied to reduce state income tax liability for certain types of businesses. The credit amount ranges from 2.5% to 10% of payroll, depending on the county classification and number of jobs.
- Industrial Property Tax Exemption
Provides up to a 10-year exemption from property taxes for eligible industries.
- Energy Investment Loan Program
Provides loans for buildings or equipment up to $300,000 per business for a maximum of seven years. The interest rate is 3% below the prime rate.
- Capital Improvements Revolving Loan Program (CAP)
Provides loans to municipalities and counties for public facilities and infrastructure to assist with business relocation or expansion. Loans may not exceed $1 million per project. Loans may be for a maximum of 20 years; the annual interest rate is 3% for taxable activities and 2% for tax-exempt activities.
- Community Development Block Grant Program
Provides grants to municipalities or counties for infrastructure improvements to assist with the relocation or expansion of businesses. The maximum grant amount per project is $650,000.
- Mississippi Business Investment Act Loan Program (MBIA)
Provides funding for public infrastructure to municipalities and counties to assist with business relocation or expansion. Eligible projects can receive a loan for up to $15,000 per job created by the eligible business and is matched by $1 of state money to $3 of private investment by the eligible business. Loans can be for a maximum of 10 years.
- Economic Development Highway Program (EDH)
Provides grants to municipalities and counties for publicly owned roads and must be used in conjunction with the relocation, expansion, or construction of industry.
- A comprehensive listing of available state tax incentives, grants, and loan programs is available on the Mississippi Development Authority website.
Other State Resources
The Financial Resources Division of the Mississippi Development Authority assists with applications for grants and loans for industrial development and expansion.
The nonprofit Mississippi Business Finance Corporation (MBFC) works with the MDA and other public and private organizations to help industries seeking to locate in the state or expand their operations. Using MBFC data, companies can review all financial programs through one source. Programs offered include:
- Industrial Development Revenue Bond Program
- Mississippi Loan Guarantee Program
- Mississippi Small Enterprise Composite Program
- Mississippi Small Enterprise Development Finance Program
- Mississippi Rural Economic Development Assistance Program
- Gulf Opportunity Zone Act of 2005
The Workforce Development Program of East Central Community College provides workforce training programs on its main campus in Decatur, Mississippi, and at several locations across the College’s service area, including the Louisville Career Advancement Center in Winston County.
In addition, Mississippi’s Workforce Investment Network operates WIN Job Centers across the state, including one in Louisville. The Centers provide one-stop employment and training services for employers and job seekers. For more information, see the Workforce Training section.
University Outreach Services
Mississippi State University, located 30 miles from Louisville, has special strengths in engineering, business and management, forestry and wood products, and agriculture. A major component of its mission as a land-grant institution is to extend the expertise of its faculty to businesses and industries across the state. Nine entities within the university provide valuable outreach services:
- Industrial Outreach Service
- Office of Technology Commercialization
- Center for Advanced Vehicular Systems
- Industrial Assessment Center
- MSU Extension Service
- Institute for Clean Energy Technology
- Research and Curriculum Unit for Workforce Development
- Resource Referral Center of the Technology Resource Institute
- Small Business Development Center
Of particular interest to entrepreneurs and start-up businesses is the Women’s Center for Entrepreneurship operated by the Mississippi University for Women in Columbus. The Center offers training, support, counseling, and resources for existing businesses and start-ups. Although the Center focuses on women and other underserved entrepreneurs, it is a valuable resource for any entrepreneurial venture or start-up business.
Other state universities offer industrial outreach programs as well, particularly the University of Southern Mississippi in Hattiesburg and the University of Mississippi (“Ole Miss”) in Oxford, Mississippi.