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Memo from President Duane O'Neill

REGIONAL APPROACH TO

TRANSPORTATION NECESSARY

There are many ingredients necessary to develop and sustain economic development and a positive quality of life.  Obviously quality education opportunities and public safety must be at the top of any list.  Assuming that these two areas are being addressed, I would submit that transportation is the next most important component.  Transportation is a broad category, and includes roads, rail, air and public transit.  It is easy to see these forms of transportation as economic development assets.  Likewise, if you have every been caught in traffic on South State Street due to a three-mile-long train, or you nearly miss your plane at the Jackson International Airport because you were stuck in traffic on Old Fannin Road, you also understand how transportation effects “Quality of Life.”

            After pondering the aforementioned situations, you may agree that transportation is critical to a thriving community.  Usually we can agree on this basic premise.  However, the challenge with transportation is that nearly everyone has his or her own opinion on which transportation project is most important.  Here at the Chamber we receive calls, letters and emails each day sighting people’s personal opinions on this subject.  Railroad track relocation, additional non-stop air service, toll roads, completion of the loop around the community, the Airport Parkway, street resurfacing, and many individual road projects across the three- county area are just a sampling of the suggestions you have voiced.  Each of these projects is important.  They are all costly and probably require both state and federal dollars. This competition in the metro area for the dollars can hurt our chances of receiving that necessary funding.  Other areas with a more single focus and unified local support team will win the competition for dollars.

            This scenario has played out many times over the years and we have not received the financial assistance for transportation projects that we deserve.  We must learn how to maximize our efforts.  This means we must work together in prioritizing our metro transportation needs.  Once we accomplish this difficult process of setting priorities, we must all commit to rally for one another’s projects as they appear on the list.   A Regional Transportation Authority works in many areas of the country.  Richmond, Virginia, where we plan to visit in September, has a successful model of such an entity.  Regardless of what we call it, we must be focused on and unified in addressing our metro region’s transportation needs.

Lewis Slater, Senior Vice President, Governmental Relations

Momentum Mississippi Passed by Legislature

Existing businesses--don’t overlook the fact that you may be eligible for incentives under Momentum Mississippi and other state legislation passed during the last sixteen months. Continue reading to see who to contact if you want to inquire. 

The chamber appreciates the work of all persons and organizations that helped develop the Momentum Mississippi proposals. We also want to thank our metro area legislators for their help in getting this important legislation passed.  The passage of Momentum Mississippi proposals last week will make Mississippi’s economic development incentive package competitive with neighboring states.

From a legislative standpoint, the last sixteen months have brought significant improvements to Mississippi’s business climate. These changes provide potential benefits for existing and new businesses. In 2006, Tort Reform and the Mississippi Education and Workforce Consolidation Act were passed. Click here for details of this highly significant 2006legislation. From a local standpoint, it was very significant that the legislature passed a local and private bill that authorized the City of Jackson to call an election on a Convention Center.   The Jackson city voters approved the project in a November referendum.  

The 2005 Regular Legislative Session

In the 2005 regular session, the most significant legislation of interest to the business community was the passage of SB 2480. This bill lowered the unemployment tax rates for employers and allocated twenty million a year for workforce training. Six additional bills were passed that added to enhancing the state’s economic development potential. They were:

HB 500: Tourism; authorize MDA to contract with local entities for regional tourism promotion, require local entities to conduct annual audit.

HB 1488:  Economic development; create the Alabama-Mississippi Joint Economic Development Authority.

HB 1711:  Income tax; authorize a credit for certain business enterprises creating new jobs in economically distressed communities. 

HB 1668: Major Economic Impact Act; revise definition of "project," authorize issuance of bonds, provide tax incentives/certain projects.

HB 1341: Taxation; income tax credit incentives for certain activities at brownfield sites. 

HB 1294:Economic Redevelopment Act; create and provide incentives for development of certain contaminated property.

The 2005 June – July Special Legislative Session

The passage of Momentum Mississippi (HB 3) resulted in modernizing seven existing incentive programs and creating two new incentives. The two new incentives were targeted at assisting existing industry by creating a Manufacturing Investment Tax Credit Program and an Existing Industry Productivity Loan Fund.

The revisions to the seven existing programs will, among other things, make the state attractive to new and emerging industries that received little consideration under former incentive packages. Now our new incentives are available to help attract industries such as call centers, research and development facilities, and corporate/regional headquarter facilities.

Details of HB 3 may be seen at http://www.msmec.com/mecdocs/BlueprintMississippi/executivesummary_jan6.htm

Who can help me determine if my business is eligible for incentives?                   

Existing businesses in the Metro Jackson Area may contact the following organizations to see if they qualify for incentives under Momentum Mississippi.

MetroJackson Economic Development Authority          601-854-5311

Greater Jackson Chamber Partnership                          601-948-7575

Hinds County Economic Development Authority           601-353-6056

Rankin First Economic Development Authority              601-825-5335

Madison County Economic Development Authority       601-859-1990  

Who can help me with workforce training funds?

All Mississippi businesses are eligible to apply for workforce-training funds provided by passage of SB 2480 during the 2005 regular session. Click here for details on how to access these training funds. Existing businesses have first priority for these funds.

If you have an employment need that might be filled by a partially disabled person and would like to discuss the possibility of hiring a handicapped person, click here for more information.

The 2006 Legislative Session

The chamber will soon begin work toward developing a Metro Legislative Agenda for the 2006 legislative session.  Contact Lewis Slater at lslater@metrochamber.com or Duane O’Neill at doneill@metrochamber.com about issues you feel should be considered during this process.