Grant and Loan Programs | Why Southeast Mississippi | Mississippi Power | Economic Development

Grant and Loan Programs

Financing Incentives

Which grant or loan program does your business qualify for? Many financing options are available to help all manner of businesses flourish. Review the sections below for more information.

Grant Programs

CDBG Program for Economic Development

The Community Development Block Grant Program (CDBG) is a grant program that is available to fund publicly owned infrastructure. Funding from this program can be used by municipalities and counties to assist with the location, expansion, or retention of businesses. Usage of the funds must be directly related to the construction, renovation, or expansion of industry.

Development Infrastructure Grant Program (DIP)

The Development Infrastructure Grant Program (DIP) is a grant program that is available to fund publicly owned infrastructure. Funding from this program can be used by municipalities and counties to assist with the location or expansion of businesses. Usage of the funds must be directly related to the construction, renovation, or expansion of industry.

Economic Development Highway Grant Program (EDH)

The Economic Development Highway Grant Program (EDH) is a grant program that is available to fund publicly owned roads. Funding from this program can be used by municipalities and counties to assist with the location or expansion of businesses. Usage of the funds must be directly related to the construction, renovation, or expansion of industry.

Job Protection Grant Program

The Job Protection Grant Program provides grants to "at risk" industries that have been operating in the state for at least 3 years and that have lost jobs or are at risk to lose jobs because such jobs have been outsourced. The Eligible Entity must use the grant for job retention and to improve productivity and competitiveness. MDA will conduct a financial analysis of the business requesting the grant. Credit information is required on all persons or entities with 20% or greater interest in the company.

"Outsource" means to send out work or jobs of a certain provider or manufacturer in Mississippi to a provider or manufacturer located outside the boundaries of the United States or any territory of the United States.

Rural Impact Grant Fund

The Rural Impact Grant Fund (RIF) provides funding for publicly owned infrastructure needs. Funding from this program can be used by Rural Communities to assist with the location or expansion of businesses. Usage of the funds must be directly related to the construction, renovation or expansion of industry.

Loan Programs

Capital Improvements Revolving Loan Program

The Capital Improvements Revolving Loan Program provides loans to municipalities and counties for the improvement of public facilities and infrastructure to assist with business locations and expansions with community based projects.

Job Protection Loan Program

The Job Protection Loan Program is available to provide loans to "at risk" industries that have been operating in the state for at least three years and that have jobs that have lost jobs or are at risk to lose jobs because such jobs have been outsourced. "Outsourced" means Mississippi jobs are being lost and relocated to industries in foreign countries. Funding from this program can be used by "at risk" industries that retain jobs in Mississippi and improve productivity.

CDBG Loan for Economic Development

The Community Development Block Grant Loan Program (CDBG) is a loan program for economic development projects that is available to fund individual business needs. Funding from this program can be used by municipalities and counties to assist with the location or expansion of businesses. Usage of the funds must be directly related to the construction, renovation, or expansion of industry.

Municipalities and counties may apply on behalf of an industry based on specific needs of the project. The municipality or county then loans the money to the eligible business. The maximum term is 20 years and the interest rate is set by the Executive Director of the Mississippi Development Authority.

For additional financing incentives, visit Mississippi Development Authority's website.