Economic Development
Economic Development
Tunica County is committed to providing a business-friendly climate with our one-stop shop turnkey approach to investing and relocating.
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Tunica County, Mississippi is strategically located within proximity to the second-busiest airport in the world by cargo traffic (Memphis International Airport), the fifth-busiest inland port in the U.S., five of the six Class I railroads, easy access to six interstate highways and more than twenty colleges and universities. The county is also home to an active Foreign-Trade Zone and provides numerous incentive offerings to help offset investment and operational costs.
Tunica is the southernmost county in the Memphis, TN-MS-AR Metropolitan Area and the northernmost county fully located within the Mississippi River Delta region of the U.S. Although the county is mainly rural due to the large presence of agriculture, the county serves as an employment center for the region and there has been $500 million in Foreign Direct Investment within the county in recent years. Schulz Xtruded Products – a PCC Company, Feuer Powertrain, and Covington Aircraft are all located in the county serving the advanced manufacturing (automotive), aerospace, and oil & gas industries.
CREATING
Opportunities
FOCUS INDUSTRIES
INCENTIVES
Tax Increment Financing (TIF)
TIF funds may be used to finance a variety of costs and improvements pertaining to public infrastructure, land acquisition, demolition, utilities, planning costs and other improvements. Eligible projects must have minimum of $10 million capital investment.
Entertainment District Act
Entertainment District Act is intended to spur development of businesses such as theaters, amphitheaters, golf courses, automobile racetracks, museums, zoos, arenas, stadiums, and comparable venues. The district allows for new or existing businesses to receive a five-year tax incentive for capital investments made in the Entertainment District. A business is allowed to depreciate capital investment on construction/renovation projects over a five-year period, instead of the current 39.5-year period.
Mississippi Tourism and Rebate Program
The Mississippi Tourism Rebate Program provides a tax rebate to qualified applicants of new tourism-oriented projects. The program allows a portion of the sales tax paid by visitors to the eligible tourism-oriented enterprise to be paid to the applicant for reimbursement of eligible costs incurred during the project’s construction. Once the total project costs have been established, 80 percent of eligible sales tax collections will be rebated to the applicant for a period of 15 years or until the applicant has recouped 30 percent of the total project cost – whichever occurs first
Foreign-Trade Zones (FTZ) are secured, designated locations around the United States in or near a U.S. Customs Port of Entry where foreign and domestic merchandise is generally considered to be in international commerce and outside of US Customs territory. As a result, activated businesses in an FTZ can reduce or eliminate duty on imports and take advantage of other benefits to encourage foreign commerce within the United States.
The Community Development Block Grant (CDBG) is a federal program that provides funding to communities for basic community services, environmental quality and economic opportunities for their residents. Projects must meet at least one of the following national objectives to be considered for CDBG assistance:
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Benefit persons of low- and moderate income
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Aid in the prevention or elimination of slums or blight
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Meet urgent needs because existing conditions pose a serious and immediate threat to the health or welfare of the community and other financial resources are not available to meet such needs
Let's discuss your next project
Please complete the form to learn more about incentives and other resources for your project.
CHarles L. Finkley, Jr.
Hello
For more information on economic development, chamber of commerce and Foreign Trade Zone #287, please contact Mr. Finkley at cf@experiencetunicacounty.com.
President/CEO Tunica County Chamber of Commerce and Economic Development
