The Following information was provided by
The DeSoto County Economic Development Council
A Synopsis of Mississippi & DeSoto County Incentives
For New and Expanding Industry
- A Right-To-Work Law in the state constitution
- Foreign Trade Zones
- No sales tax on purchases of raw materials, processing chemicals, or packaging materials
- Partial (50%) sales tax exemptions for purchases of construction materials, machinery and equipment in DeSoto County
- A 1 1/2% sales tax on machinery anf parts used directly in manufacturing and on industrial electricity, natural gas, and fuels
- Favorable unemployment insurance rates and workers' compensation rates
- State-sponsored financing programs for land, building, and new equipment
- Favorable individual and corporate income tax rates
- State income tax credits for five years of $500 for each new job created by a new or expanding business, providing 20 or more jobs are created
- Five-year state income tax credits of $1000 for each new R&D job created
- Companie establishing or transferring regional or national headquarters to Mississippi may be eligible for five-year state income tax credits of $1000 for each new job created and full sales tax exemptions for direct purchases of construction materials, machinery, and equipment for the headquarters facilities
- State income tax credits equal fo 50% of child/dependent care expenses
- State income tax credits equal to 50% of basis skills training and job re-training expenses
- State income tax credits for qualified industries in conjunction with certain bond financing agreements
- Ten year exemptions from county and city property taxes, except school taxes and road and bridge taxes
- Perpetual exemptions of all property taxes on finished goods distributed outside of the state through a Free Port Warehouse Law
- Customized industrial training programs provided through the Northwest Mississippi Community College
- Utility companies offer discounts on telephone and electric rates to eligible companies
- Quarterly incentive payments through a diversion of withholding taxes for certain qualified businesses