| State: |
MS |
| Incentive Type: |
Cash Grants and Financing Incentives |
| Incentive Title: |
Direct Loans |
| Description: |
1) INDUSTRY PRODUCTIVITY LOAN PROGRAM Loans are available to existing manufacturers that have operated in the state for at least two years. The maximum amount of the loan shall not exceed 50% of the overall project cost or $500,000. The interest rate will be based upon the most recent issue of 20 year state general obligation bonds. 2) MS JOB PROTECTION ACT This program will provide loans or grants for an at risk industry that has operated in the state for three years, has lost jobs or is at risk to lose jobs. The maximum amount of the loan should not exceed $750,000 and the grant shall not exceed $200,000. The rate shall be based upon the most recent issue of 20 year state general obligation bonds. |
| Eligibility Requirements: |
1) Must be an existing manufacter. Must meet minimum criteria established by the MDA and pass the financial analysis conducted by the MDA. 2) The eligible business can not reduce employement by more than 20%. Must submit to a financial analysis by the MDA. |
| Geographic Restrictions: |
Statewide |
| Granting Authority: |
MS Development Agency |
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