In 2010, industry-specific incentives were enacted for companies in the clean energy manufacturing, data center and aerospace industries, three sectors that have demonstrated the potential for significant growth in Mississippi in recent years. These industry-specific tax incentive programs supplement Mississippi’s other incentives and may be combined with other State assistance programs.
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.
The program provides qualifying companies with a 10-year exemption from state income and franchise taxes, as well as a sales tax exemption to establish a plant or expand an existing production facility. To qualify, businesses must commit to invest a minimum of $50 million and create 250 full-time jobs.