In Clarksdale, our goal is to create a lasting partnership that rewards your organization in every way possible, at every stage. That begins with a community mindset to understand your needs, the vision to see how we can answer those needs and leadership that comes together to support your success with assistance that extends from top-level financial considerations to the smallest operational details.
In a pro-business state, Clarksdale also offers an array of financial incentives that can be customized for maximum impact on your bottom line, including those listed below. Or to browse a complete list of state incentives, please visit the Mississippi Development Authority’s website here.
Community Development Block Grants (CDBG) Economic Development Program
The program available to fund publicly owned infrastructure. Funding can be used by municipalities and counties to assist with the location, expansion or retention of businesses. Usage of the funds must be directly related to the construction, renovation or expansion of industry. The program provides for a maximum state business grant amount per project of $20,000 per job or up to $2,500,000.
Project activities must meet at least one of the following national objectives:
- Benefit low- and moderate-income persons;
- Aid in the prevention or elimination of slums or blight;
- Meet urgent needs because existing conditions pose a serious and immediate threat to the health or welfare of the community and other financial resources are not available to meet such needs.
Development Infrastructure Grant Program (DIP)
“DIP provides grants to municipalities and counties to finance public infrastructure projects that promote economic growth in the state.
Applicants must apply on behalf of a new or expanded industry, based on the public infrastructure needs of the project. The Development Infrastructure Grant Program provides for a maximum grant amount per project of $150,000.“
Job Training Grant
Companies locating or expanding in Mississippi that are eligible for the state’s Jobs Tax Credit may opt to either take that credit or monetize it to use for job training. For eligible companies who opt to monetize the credit, the State provides Job Training Grants to a community or junior college, university or Workforce Investment Area in Mississippi to pay costs incurred in training or retraining that company’s employees.
Capital Improvements Revolving Loan Program (CAP)
CAP provides loans to municipalities and counties to finance public infrastructure improvements in Mississippi. CAP Loan funds may be used by local governmental authorities in support of business location and expansion projects and other community-based projects.
Growth and Prosperity Program (GAP)
The program designates specific counties as GAP counties and provides income, franchise, sales and property tax incentives to companies that locate or expand in these areas of the state.
SMALL BUSINESS ADMINISTRATION (SBA)
The Small Business Administration works with different organizations to provide federal financial assistance (grants) and loans for certain small businesses.