Mississippi Development Authority

Mississippi Development Authority
Name	Mississippi Development Authority
Formed	1996
Jurisdiction	Mississippi
Headquarters	Jackson, Mississippi
Chief1 name	Dan Greenbaum
Chief1 position	Executive Director
Website	Official website

Mississippi Development Authority is the primary state-level economic development agency for Mississippi, tasked with attracting investment, supporting business expansion, and promoting workforce development. It coordinates statewide initiatives across regions including the Gulf Coast of Mississippi, Delta, and Pine Belt, and engages with municipal partners such as Jackson, Mississippi and Gulfport, Mississippi to implement strategic plans. The agency works alongside institutions like the University of Mississippi, Mississippi State University, and the United States Economic Development Administration to leverage public and private resources.

History

The agency originated from earlier entities including the Mississippi State Development Agency reforms during the 1990s and consolidated functions previously managed by the Mississippi Department of Commerce and regional authorities. Over decades the agency responded to transformative events such as Hurricane Katrina recovery efforts on the Gulf Coast of Mississippi and manufacturing shifts driven by trade agreements like the North American Free Trade Agreement. Key milestones include establishing export promotion programs tied to the Mississippi Export Initiative and coordinating responses to economic disruptions linked to the Great Recession and sectoral transitions in textiles and aerospace. The agency’s history reflects partnerships with federal entities including the Small Business Administration, the Economic Development Administration (EDA), and workforce initiatives aligned with the Workforce Innovation and Opportunity Act.

Organization and Leadership

The authority is led by an Executive Director appointed by the Governor of Mississippi and overseen by a board including representatives from commerce, agriculture, and manufacturing sectors such as executives from Ingalls Shipbuilding and agribusiness stakeholders. Leadership teams coordinate divisions focused on business recruitment, international trade, small business assistance, and community development, working with institutions like the Mississippi Development Bank and regional planning organizations such as the Southern Mississippi Planning and Development District. The agency routinely interfaces with federal legislators from Mississippi's congressional delegation and state officials including the Mississippi State Senate and Mississippi House of Representatives to align statutory authorities and appropriations.

Economic Development Programs

Programs target industry clusters including advanced manufacturing, aerospace, maritime, and technology, partnering with companies such as Toyota Motor Corporation, Yamaha Corporation, and GE Aviation in project-based recruiting and expansion. Initiatives include export assistance, foreign direct investment attraction, and entrepreneurial support coordinated with accelerators and incubators at campuses like Jackson State University and Alcorn State University. Workforce development efforts are implemented alongside Mississippi Institutions of Higher Learning and community colleges in systems like the Mississippi Community College Board, aligning training with employers such as Caterpillar and Hamilton Beach. Tourism promotion collaborates with cultural institutions such as the Vicksburg National Military Park and festivals like the Mississippi State Fair to bolster regional visitor economies.

Incentives and Financing

The agency administers financing tools and tax incentives designed to attract capital investment, including performance-based tax credits, bond financing through the Mississippi Development Bank, and workforce tax credits tied to job creation targets negotiated with corporations including Boeing and Deltic Timber. Programs coordinate with federal tax incentives such as the New Markets Tax Credit and utilize funding streams from agencies like the U.S. Department of Agriculture for rural development. The authority structures incentives to support projects in enterprise zones and opportunity zones established under federal legislation including the Tax Cuts and Jobs Act of 2017.

Industry and Regional Initiatives

Targeted initiatives support regional strengths: maritime and shipbuilding on the Gulf Coast of Mississippi around Pascagoula, Mississippi and Gulfport, Mississippi; agribusiness and food processing in the Delta; and automotive and aerospace corridors near Laurel, Mississippi and northern industrial clusters. Sector strategies align with national supply chains and trade flows involving partners such as Port of Gulfport, Port of Pascagoula, and logistics firms operating through the Mississippi River. Regional economic resilience programs have been activated after disasters including Hurricane Katrina and coordinate rebuilding with federal recovery agencies and philanthropic partners.

Partnerships and Collaborations

The agency maintains partnerships with higher education systems like Mississippi State University and University of Mississippi Medical Center, trade associations including the Mississippi Manufacturers Association, and federal partners such as the Economic Development Administration (EDA) and the U.S. Department of Commerce. Collaborative projects involve community development corporations, local chambers of commerce such as the Jackson Chamber of Commerce, and international consortia to promote exports to markets engaged through agreements like the Trans-Pacific Partnership negotiations. Private-sector collaborations have included site development with multinational firms and supplier networks supporting firms like Toyota Motor Corporation and Yamaha Corporation.

Accountability and Performance Metrics

Evaluation relies on metrics such as jobs created, private capital investment secured, wage growth, and export volume, tracked in coordination with the Mississippi State Auditor and subject to legislative oversight by committees of the Mississippi Legislature. Independent assessments have referenced benchmarks used by national organizations like the International Economic Development Council and the Council for Community and Economic Research to compare competitiveness across states. Annual reports and performance dashboards align with federal reporting requirements to agencies such as the U.S. Department of Commerce and the U.S. Government Accountability Office to ensure transparency and fiscal stewardship.

Category:Economy of Mississippi Category:State agencies of Mississippi