A Synopsis of Mississippi & DeSoto County Incentives for New and Expanding Industry
- A Right-To-Work Law in the state constitution.
- Northern Mississippi Foreign Trade Zone.
- 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 1.5% sales tax on machinery and parts used directly in manufacturing and on industrial electricity, natural gas, and fuels.
- Favorable unemployment insurance rates and workers' compensation rates.
- State-sponsored bond financing programs for land, building and new equipment that includes income tax.
- Credits and sales and use tax exemptions.
- Favorable individual and corporate income tax rates.
- State income tax credits for five years of 2.5% of payroll with the creation of 20 or more jobs.
- Five-year state income tax credits of $1,000 for each new R&D job created.
- Companies establishing or transferring regional or national headquarters to Mississippi may be eligible for five-year state income tax credits of $1,000 for each new job created and full sales tax exemptions for direct purchases of construction materials, machinery, and equipment for the headquarters facility.
- 10 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 rebate payments through a diversion of withholding taxes for certain qualified businesses.
For more information, please call the DeSoto Council office at 662.429.4414 or email us your questions.