Mississippi Development Authority Grants Stimulate Municipal Economies
Recently, many Mississippi entrepreneurs waited in queues to apply for Back to Business Mississippi small business grants, which will help them to make it through the COVID-19 pandemic, but other types of grants are also available, which are designed to promote long-term community development, livability, and prosperity. The Development Infrastructure Grant Program (DIP), available through the Mississippi Development Authority in Jackson, is a fine example. In uncertain times, it's important to know that help is out there and where to find that help. With this mind, it's time to discuss the Development Infrastructure Grant Program and what it has to offer to Clinton industries and people.
What is the Development Infrastructure Grant Program?
This grant is for counties and municipalities, for the purpose of financing projects to improve publicly-owned infrastructure. Public infrastructure is public assets that should promote economic growth. The overarching purpose of this grant, with its $150,000 maximum, is to spark fiscal opportunity within Mississippi.
People who apply for the DIP must do so on behalf of expanded or brand-new industries with public infrastructure needs. This grant will cover many facets of infrastructure improvements, including land improvements. However, facilitating land improvements, such as clearing brush or leveling land, is just the beginning. Drainage, sewer, water, marine structure, energy facility, and transportation improvements are also covered under the conditions of the grant. In addition, the grant may be utilized to buy, construct, or rehabilitate buildings. One important fact to be aware of is that everything built or improved by the grant must be publicly-owned infrastructure.
Which industries qualify?
Local government officials apply on behalf of a variety of industries, including corporate headquarters/operation centers, manufacturers/processors, and distribution facilities. Municipal governments may also apply for telecommunications/data processing companies. While many industries currently focus on survival, rather than expansion, these grants are still very important. They give industries the support that they need to become integral parts of Mississippi communities over the long-term. These grants keep the state's cities strong for the future, with the right infrastructure for companies who want to hire locals. Without this grant program, bouncing back after the pandemic finally eases will be harder.
Infrastructure spending creates jobs
According to the Economic Policy Institute, spending on public infrastructure is a solid investment in future prosperity. With public infrastructure projects, a variety of direct jobs are generally created, as well as a range of indirect jobs that facilitate construction work or other improvements. When grants cover some or all of the cost of public infrastructure projects, the community benefits, during the projects, and afterward. Completed infrastructure enhancements keep companies in the community and attract new ones. One benefit of jobs created in this niche is that they are typically available to a diverse range of people, many of whom don't need a high level of education to qualify.
It's nice to know that the Mississippi Development Authority is doing all it can to help state cities and counties with their public infrastructure needs. During such hard times, this government entity is looking ahead to brighter days. These days will eventually come.