New approach to boosting tourism districts entertained

Mississippi Secretary of State Delbert Hosemann has proposed an amendment to strengthen the state’s Entertainment District Act.

As an incentive for businesses to locate in the state’s four designated entertainment districts, business owners could earn a jobs tax credit for new, full-time job creation.

Eligibility for the credit would be based on the jobs created at tourism attractions, such as theaters, golf courses and zoos. If the number at those businesses matches or exceeds the total number of jobs created in a particular county, then every entertainment-related business in the district could claim the tax credit.

Under the current law, businesses can construct or renovate a venue and receive a tax break in the form of an accelerated depreciation deduction. The venue would depreciate in five years compared to the normal 40 years.

Clarion Ledger
2/9/11