Incentives

The greatest incentive for starting a business in Pascagoula is the market data which shows an underserved population of approximately 53,000 residents within the city limits of Pascagoula, Gautier, and Moss Point; 132,922 residents of Jackson County, the fifth largest in the state; and 155,603 residents in the Pascagoula Metropolitan Area.  Over 23,000 people work in Pascagoula every day, and the economic and retail data clearly show that these people have unmet commercial needs.

The City of Pascagoula is committed to continuing its investment in infrastructure, transportation, and aesthetics, and to provide complete support for the development of small and large business within the City.

Local Incentives

 

Entertainment District

 

The City of Pascagoula has a designated entertainment district.  The Resolution can be found here.

 

Residential Development Incentive Program

 

The Residential Development Incentive Program offered by the City of Pascagoula consists of a waiver of fees up to $5000 for the construction of a new, single-family dwelling of over $150,000 in value.  The fees being waived as a part of this program include permit, inspection, and utility connection fees.

 

Resort Status

 

The City of Pascagoula was recently approved for a Resort Status.  The City’s Resort Status allows restaurants withing the City limits to operate 24 hours a day and be able to sell alcoholic beverages under the local option alcoholic beverage law.

 

Central Business District Commercial Tax Exemption

 

The City of Pascagoula offers a Central Business District Commercial Tax Abatement up to 80% on ad valorem taxation on the increase in accessed value on new structures or improvements to renovations of existing structures located in the designated Central Business District for up to seven (7) years excluding school taxes. Click to see the Central Business District Tax Abatement Policy, and to apply, please download the Tax Abatement Application.

 

For more information on Central Business District Commercial Tax Abatement Policy, contact the Community and Economic Development at (228) 938-6651.  If approved by the City, applicants are encouraged to apply for Jackson County’s reciprocal Tax Abatement Program.  Call (228) 762-3391.

 

Central Business District Residential Tax Exemption

 

Pascagoula Central Business District (CBD) Residential Tax Exemption Policy was established to promote private investment and economic growth within the City of Pascagoula. The Exemption will allow for up to an 100% exemption of municipal ad valorem taxes (excluding School Taxes) for up to ten (10) years for residential developments including new structures and improvements to existing structures located within the Central Business District. The exemption is for the increase in City ad valorem taxes caused by the new construction or renovation of existing structures.  Click to see the Central Business District Residential Tax Abatement Policy.

 

For more information on Central Business District Residential Tax Abatement Policy, contact the Community and Economic Development at (228) 938-6651.

 

Tax Increment Financing 

 

In Mississippi, Tax Increment Financing (TIF) Bonds are issued by a municipal or county government to reimburse a developer for public infrastructure improvements at private developments.  TIFs can pay for anything typically constructed by a city (parks, parking, streets, landscaping, infrastructure, etc.).

 

In this process, a developer will ask a municipality to commit TIF funds based on the anticipated value of improvements.  The developer must cover these costs until the project is completed and producing tax revenues.  With these tax revenues, the municipality will issue the bonds and use a portion of the ad valorem and sales tax revenues generated by the development to pay the bonds off over a set time.

 

For more information on TIF, please contact Community and Economic Development at (228) 938-6651.

State Incentives

Advantage Jobs Incentive Program

 

The Advantage Jobs Incentive Program is a rebate program designed to encourage businesses that create new quality jobs to locate in the state. Jobs must meet or exceed the average annual wage of the state or the county in which the company locates, whichever is lower.

 

Broadband Technology Tax Credit

 

Broadband Technology Tax Credits are credits that can be applied to state income or franchise tax of telecommunications businesses. These credits are earned based on a percentage of the cost of equipment used in the deployment of broadband technology in the state. To be eligible for the credit, the items must be sold to, billed to, and paid for by the company receiving the credit.

 

Free Port Warehouse Property Tax Exemption

 

An exemption from property taxes is available on finished goods inventory in transit to a destination outside Mississippi.

 

Historic Tax Credits

 

The Mississippi Department of Archives and History (MDAH) administers a 20% federal tax credit equal to 20% of the amount spend in a certified rehabilitation of a certified historic structure to encourage the rehabilitation of historic buildings. The property must be listed on the National Register or part of an historic district. Owner must hold the building for five years after completing rehabilitation.

 

A 10% tax credit is also available for the rehabilitation of non-historic, non-residential buildings constructed before 1936. The cost of the rehabilitation must exceed $5,000. At least 50% of the buildings walls existing at the beginning of the rehabilitation must remain, 75% of the buildings existing external walls must remain in place as external or internal walls, and at least 75% of the buildings internal structure framework must remain in place.

More information is available from the Mississippi Department of Archives and History.

 

Industrial Property Tax Exemption

 

An exemption from property taxes is available to eligible industries that locate or expand in the state.

 

Jobs Tax Credit

 

Jobs tax credits are credits that can be applied to state income tax to reduce an employer’s income tax liability.

 

Mississippi Aerospace Initiative Incentives Program

 

Mississippi’s Aerospace Initiative Incentives program provides tax incentives to companies that manufacture or assemble components for the aerospace industry or provide research, development or training services for the sector and are looking to locate or expand in the state.

 

Mississippi Clean Energy Initiative Program

 

The Mississippi Clean Energy Initiative program allows the Mississippi Development Authority to certify companies that manufacture systems or components used to generate clean, renewable or alternative energy. This includes nuclear, solar, wind and hydro-generation.

 

Sales and Use Tax Exemption for Construction or Expansion

 

A sales and use tax exemption is available for eligible businesses that construct a new facility or expand an existing facility in the state.

 

Tourism Rebate Program

 

The Mississippi Tourism Rebate Program is a program designed to provide a tax rebate to qualified Applicants of new tourism-oriented projects within the State of Mississippi.

 

For a complete list of incentives, please see the Mississippi Development Authority library and resources page.

 

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