Jackson's Office of Economic Development works to maximize the city’s potential as a thriving center for businesses, jobs, robust neighborhoods and economic opportunity for everyone in the Capital City. The Office of Economic Development supports business and the development community within city government and between city agencies. It also partners with other organizations to further economic development.
The Office of Economic Development offers an array of valuable tools for doing business in the City of Jackson including development incentives. Grant programs, an outreach program, tax incentives, and the Equal Business Opportunity Office are available to those interested in doing business in the city. Resources are provided cost-free and tailored to meet the specific needs of the business owner or developer.
INCENTIVES AND PROGRAMS
Special Economic Development Grant Program (SEDG)
This program provides up to $50,000 to companies who invest at least $1.5 million in the city of Jackson and hire 30 or more employees of which 50% have to live in a CDBG eligible area.
Small Business Development Grant Program (SBDG) and Storefront Improvement Grant Program (SIG)
The City of Jackson offers two matching business development grant programs. The Small Business Development Grant Program (est. 2004) assists small business owners with the purchase of operational or technological equipment such as computers, cash registers, security systems, and POS machines.
The Storefront Improvement Grant Program (est. 1999) assists small business owners with façade upgrades such as lighting and signage. Both are funded through the U.S. Department of Housing and Urban Development's Community Development Block Grant Program.
Businesses located within a designated Urban Renewal area can receive up to $15,000 from each program. Businesses located outside of the Urban Renewal Areas can receive up to $10,000 from each program. The City will reimburse the business owner 75% of approved spending up to the maximum amount. Technological equipment that does not exceed $5,000 will be reimbursed 100%.
Tax Increment Financing (TIF)
This financial mechanism is available to cities and counties to fund new infrastructure needed to support economic development.
Ad Valorem Tax Exemption
The ad valorem tax exemption exempts property owners from paying City ad valorem taxes on the increased value of rehabilitated property.
SPECIAL SERVICES
Equal Business Opportunity
The mission of the Equal Business Opportunity Commission Office is to promote the inclusiveness of minority and female owned businesses within the city’s procurement process and to facilitate via race and gender neutral tools, the equitable awarding of contracts to minority and female business enterprises.
Business Development
The Business Development Division provides guidance to business owners in terms of selecting sites, business plan preparation, and additional funding opportunities.
Small Business Outreach Coordinator
The Small Business Outreach Coordinator provides technical assistance, acts as a liaison between business owners and the City by fielding inquiries and concerns, assists business owners through required city processes to either start their businesses or maintain them, and educates business owners about the city's incentives. Contact the City's Business Outreach Coordinator, Vic Sexton, at 601-960-1055.
External Links:
Contact: Michael Davis
601-960-1100
200 S. President Street
Jackson, MS 39201
