MISSISSIPPI JOB PROTECTION GRANT PROGRAM
The Mississippi Job Protection Act administered by the Mississippi Development Authority for the purpose of providing grants to ‘at risk' industries that have been operating in the state for at least 3 years that have lost jobs or is at risk to lose jobs because such jobs have been outsourced.
Eligibility
"At Risk" industries that have been operating in the state for at least 3 consecutive years and have lost jobs or are at risk of losing jobs because of outsourcing.
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.
Eligible Projects
Counties may receive grants for Freight Rail Service projects relating to the upgrading of rail grade crossings. Only projects approved by MDOT will be eligible for RAIL grants. The project approval process will be initiated by MDOT via a three-party agreement.
Amount
Maximum GRANT amount: $200,000. Grant must be used in conjunction with a loan. The amount of the loan shall not exceed 50% of the total cost of the project.
Funding
Funding is derived from the issuance of state general obligation bonds.
How to Apply
To apply for this program, the eligible entity should contact MDA for additional program information.
Statute Section
Section 57-95-1 MS Code
For more information:
Mississippi Development Authority
Minority and Small Business Development Division
Telephone: 601.359.3448
Fax: 601.359.5290
minority@mississippi.org
