JACKSON – What’s ahead for Mississippi’s economy in 2017? Mississippi Development Authority Executive Director Glenn L. McCullough Jr. expects 2017 to be another exciting year in economic development in Mississippi.
“Gov. Phil Bryant and the Mississippi Legislature have enacted several strong, pro-business measures like the phaseout of the franchise tax and the creation of the Mississippi Works fund which dedicates $50 million toward workforce training,” McCullough said, “I can assure you MDA will continue our mission to attract more and better jobs through our aggressive economic development efforts. Our team is working hard to helping our existing businesses grow while recruiting world-class companies to the state.”
The phase out of the franchise tax will reduce the current $2.50 tax on each $1,000 of capital by $0.25 a year until it is fully eliminated by 2027. The Mississippi Works fund commits $50 million toward workforce training by the state’s community college network and WIN Job Centers.