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

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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 …

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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

Mississippi Business

Superior Optical Lab expanding operations in Jackson County

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mississippi.org – Ken patterson – 2024-10-16 10:00:00

SUMMARY: Superior Optical Lab, an eyeglass manufacturer in Jackson County, is expanding with a corporate investment of approximately $12.5 million, creating 188 jobs. The company, which operates one of America’s leading optical laboratories, recently added 45,000 square feet of production space to enhance efficiency. The Mississippi Development Authority and Jackson County are supporting the expansion project. Founded in 1991 by a U.S. Navy veteran, Superior Optical Lab is dedicated to providing affordable eyewear to veterans. Local officials, including Gov. Tate Reeves, express pride in supporting veteran-owned businesses and the positive impact on the Gulf Coast region’s economy.

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Mississippi Business

Salad Days Produce expanding in Madison County

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mississippi.org – Ken patterson – 2024-10-08 14:00:00

SUMMARY: Salad Days Produce, a hydroponic lettuce producer based in Flora, Mississippi, is expanding its operations with an $8.18 million investment, creating at least 12 jobs. The new 65,000-square-foot facility at Flora Industrial Park will significantly increase production capacity, enabling the company to serve larger grocery chains and regional distributors. This expansion is expected to be completed by July 2025, supported by the Mississippi Flexible Tax Incentive program. Local officials highlight the positive economic impact and growth in the food-service market that will result from this project, reinforcing Madison County’s emerging status as a food-sector hub.

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Mississippi Business

Exxel Outdoors locating operations in Tupelo

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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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