ELECTIONS BRING NEW OPPORTUNITIES AND FAREWELLS TO SOME FRIENDS

Momentum Mississippi is becoming a

Monumental Task

There has been much news lately focusing on disagreements between the state legislature and the governor’s office regarding Momentum Mississippi.  I would like to clarify and to present in “layman’s terms” what Momentum Mississippi is and how it will affect everyone in Mississippi, especially those of us in the Metro Jackson Area.  Momentum Mississippi is an economic development incentive proposal based on recommendations from business and community leaders throughout the State of Mississippi.  This was not a proposal drafted in the governor’s office or in the offices of the Mississippi Development Authority (the state’s economic development agency).  This proposal was engineered from a yearlong study called Blueprint Mississippi.  The Blueprint survey was comprised from the input of a number of existing industry leaders and local/regional economic development officials throughout the state of Mississippi.  The views from these individuals are first hand accounts of what the state needs to do to become one of the most competitive states for economic development in the Southeastern United States. This plan will reflect what other states are doing and apply those same advantages to Mississippi’s economic development incentive package.

The Momentum Mississippi Incentive bill will aid in luring new high paying jobs and aids in keeping our existing businesses from relocating out of state.  One major problem for our state is that Mississippi’s expansion incentives are not competitive with incentives offered by neighboring states. This bill advances three high priority recommendations of Blueprint Mississippi.  First, it focuses on providing incentives for existing industries to invest in technology to modernize outdated plants and to keep jobs in the Metro Jackson area and in Mississippi.  Second, it will help increase the interest of high tech industries in considering Mississippi because of our major research universities.  These economic develop enhancements will help create better paying jobs that will help keep Mississippi graduates in Mississippi. Larger communities in neighboring states already have incentives in place that allow them to attract high tech and high paying jobs to their market.  Finally, this bill will provide greater flexibility to the Mississippi Development Authority and local economic developers by allowing them to promptly close on small and medium sized projects without having to seek legislative approval.   Large or Mega projects like Nissan Manufacturing will still need legislative approval because of the magnitude of investments required of state and local agencies to attract and locate such projects.     

The MetroJackson Economic Development Alliance (MEDA) is the regional economic development authority that is housed and facilitated by the MetroJackon Chamber of Commerce.  The professionals that make up the MEDA board see opportunities on a monthly basis slip through their hands because our state is never “in the game” due to the lack of incentives. Mississippi is very competitive when it comes to recruiting on the manufacturing front, which is very apparent because of the area’s largest private employer, Nissan.  Mississippi was the first state in the Union to offer incentive packages to lure manufacturers to the Southeast.  Now, Mississippi is one of the last southeastern states to consider offering similar incentives to new and emerging industries such as call centers and data processing centers. For example, a call center with a projected employment of 300 and an entry-level salary of $45,000 a year is eligible for almost nothing in the way of incentives.  A proposed manufacturing plant that would employ 50 people with a starting salary of $18,000 a year is eligible for every incentive the state has to offer. 

Passage of this bill will boost state revenue by increasing employment, tax collections and value for the people of Mississippi.   Each time we lose a job, Mississippi loses tax revenue.  The passage of this bill will directly affect the Metro Jackson area mainly because this is the most populated area within Mississippi. When a new project locates in the Jackson MSA, our entire state benefits because our population base is not affected by neighboring states.  Therefore, the majority of the employees hired would live, work and play within a thirteen-county vicinity.  No matter where a project locates within the Jackson MSA, tax revenue will be generated.

            Many people in my generation have had to leave Mississippi to pursue better paying and challenging jobs.  Organizations like MEDA and the Greater Jackson Chamber Partnership are trying to change this situation.  We no longer want Mississippi’s leading export to be our brightest young people.

            The MetroJackon Chamber of Commerce and MEDA encourage all Metro Jackson Area business leaders to help make sure that Momentum Mississippi is passed so our area can prosper during the present economic upturn.  As always, we appreciate the support of our members and ask you to help support the passage of this bill by asking your local legislator to support this bill before the June 28^th special session begins.

Legislative contact information may be found at www.metrochamber.com/chamber/contact_legislator.asp