New investment foundation for future economic development success
Nov. 13, 2024 – Governor Tate Reeves announced the state of Mississippi is investing over $110 million toward economic development, infrastructure upgrades, workforce development, tourism, and conservation efforts throughout Mississippi.
The majority of grant approvals, totaling over $97 million, will be invested into projects that will further strengthen Mississippi’s economy through site development, infrastructure improvements, and workforce training support. This massive investment will help expand infrastructure capabilities at sites across the state and better position Mississippi to secure even more record-breaking private sector investment. Funding for these projects is available through the Mississippi Development Authority (MDA), Appalachian Regional Commission (ARC), Delta Regional Authority (DRA), RESTORE Act, GOMESA, and Southeast Crescent Regional Commission (SCRC).
“Mississippi’s economic development results have been historic and unprecedented,” said Reeves. “We’ve secured billions in new private sector investment and created thousands of jobs across the state. The funding we announced today will go a long way toward continuing Mississippi’s economic momentum and will help create more high-paying job opportunities for Mississippians across the state.”
Through its Site Development Grant Program, which provides funding in three categories, MDA is committing $29,358,784 in site development grant funding. Created in 2021, the Select Sites program, which is invitation-only, was designed to increase the number of highly competitive industrial sites available to meet the needs of prospective companies. The Premier Sites program is designed for properties that have a minimum of 100 acres and have distinguishing site location attributes, such as being in high-demand locations and offering intermodal and/or port access. The Ready Sites program is designed for properties that have a minimum of 20 highly developable acres that are site-work ready within six months or can have utilities on site within 12 months.
