Mississippi Business

Mississippi Development Authority approves three community development financial institutions for funding through State Small Business Credit Initiative

Published

3 months ago

July 3, 2024

Jackson, Miss. (April 3, 2024) – Last year, the U.S. Treasury Department and the Mississippi Development Authority announced the approval of Mississippi’s state plan for up to $86 million in funding under the American Rescue Plan’s State Small Business Credit Initiative. Mississippi operates four SSBCI programs to support small businesses and startups: a loan participation program, a loan guarantee program and two equity/venture capital programs.

“This program will help to empower Mississippi small businesses by equipping them with the resources and support they need to thrive in today‘s economy,” said Governor Tate Reeves. “Mississippi has tremendous momentum, and we are blessed with fantastic small businesses in every part of our state. I look forward to seeing how these funds …

By: Ken patterson
Title: Mississippi Development Authority approves three community development financial institutions for funding through State Small Business Credit Initiative
Sourced From: mississippi.org/news/mda-approves-3-financial-institutions-sssbci/
Published Date: Wed, 03 Apr 2024 15:00:28 +0000

Post Views: 178

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Mississippi Business

Exxel Outdoors locating operations in Tupelo

Published

1 week ago

September 26, 2024

Staff Editor

mississippi.org – Ken patterson – 2024-09-26 10:00:10

SUMMARY: Exxel Outdoors, a leading manufacturer of outdoor and military gear, is relocating its national warehousing and distribution center from Reno, Nevada, to Tupelo, Mississippi, creating at least 40 jobs with a corporate investment exceeding $2 million. This move enhances delivery efficiency by positioning the company closer to its customers and its manufacturing plant in Haleyville, Alabama. Supported by the Mississippi Development Authority’s MFLEX program and local agencies, Exxel’s arrival is expected to diversify the local economy and foster business growth in Tupelo. The company will begin hiring immediately, reflecting Mississippi’s commitment to a conducive business environment.

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Mississippi Business

Greenville Kearns Aerospace Maintenance expanding in Washington County

Published

4 weeks ago

September 5, 2024

Staff Editor

mississippi.org – Ken patterson – 2024-09-05 11:00:42

SUMMARY: Greenville Kearns Aerospace Maintenance (GKAM) is investing $11.75 million to expand its operations in Greenville, creating 31 new jobs and bringing its total job commitments to 281. The expansion includes retrofitting two hangars for aircraft painting and hazmat services, positioning GKAM as one of the largest aircraft depots in the U.S. and the largest veteran-owned small business in the country. The Mississippi Development Authority is supporting the initiative through the MFLEX program. GKAM aims to complete the expansion by mid-2025, enhancing regional economic growth and offering new opportunities for local workers.

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Mississippi Business

Gulf States Canners expanding in Hinds County

Published

1 month ago

August 29, 2024

Staff Editor

mississippi.org – Ken patterson – 2024-08-29 10:00:04

SUMMARY: Gulf States Canners is expanding its Clinton, Mississippi facility with a $40.8 million investment, creating 19 new jobs. Established in 1972, the company produces canned and bottled products for Coca-Cola bottlers. The modernization project aims to improve efficiency and capacity, including a new PET bottle production line for Coca-Cola sparkling products and Dasani water. Support comes from the Mississippi Flexible Tax Incentive program and local government agencies. The expansion is expected to be completed within a year, with job creation occurring over the next two years. Local leaders express excitement about the positive economic impact on the community.

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