Gulf Zone Oppurtunity Act
"The durndest construction boom in my lifetime." That's what Meridian businessman Gil Carmichael predicts the Gulf Zone Oppurtunity Act will do for this area. That would certainly be interesting.
Here's what that act is. It was passed by Congress last year, and signed by the President in December. It gives businesses who want to rebuild, renovate, or locate in areas hit by the hurricane major incentives to do so. Meridian is among the areas in the hurricane zone, so it could definately benefit from said incentives.
For a complete summary of what the act does, go to this link. Gulf Zone Oppurtunity Act of 2005.
But here's the bottom line. If a new business wants to locate in Meridian, or any other part of the hurricane zone for that matter, the incentives to do so, depending on it's size, could be huge. Say for instance, Kia decided it wanted to build it's plant in Meridian after all. The total incentives it could rake in from the act alone, for building that $1.5 billion facility, would be about $200 million. Combine that with the $200 million in other incentives that is has been reported Mississippi would be willing to offer Kia for coming, and you have a package that it would be hard for any other state to beat.
One of Meridian's main competitors for the Kia project, Columbus, is also in the Hurricane Zone, so they would have the same incentives Meridian has. Of course, Columbus is already in the process of taking bonds to buy land, in case Kia or some other car maker decides to build there.
Now, the incentives are not just for new businesses. Some of the same tax incentives that can be used to entice new business to build could also be used to help exisiting business expand or renovate. That's why Gil Carmichael believes there could be a building boom.
That is obviously one of the story's we're working on tonight. Here are some of the others.
Cigarette/Grocery Tax - A new bill before the legislature that would cut the grocery tax while raising the cigarette tax.
Law Enforcement Awards - The top officers in this area are honored by the Exchange Club.
Prescription Drug Help - Ways to help seniors who need help understanding the new prescription drug plan.
Cholesterol Problems - Renee' Lasalle begins the first of a three part look at the problems.
Severe Weather Week - Charles continues his look at severe weather awareness.
The Meridian City Council and Lauderdale County Board of Supervisors also meet tonight. We'll update you on what happened at 10:00.
We've begun to see an uptick in the number of people visiting the blog, so we'd like to say thanks for that. And tell your friends. Have a great day.
Here's what that act is. It was passed by Congress last year, and signed by the President in December. It gives businesses who want to rebuild, renovate, or locate in areas hit by the hurricane major incentives to do so. Meridian is among the areas in the hurricane zone, so it could definately benefit from said incentives.
For a complete summary of what the act does, go to this link. Gulf Zone Oppurtunity Act of 2005.
But here's the bottom line. If a new business wants to locate in Meridian, or any other part of the hurricane zone for that matter, the incentives to do so, depending on it's size, could be huge. Say for instance, Kia decided it wanted to build it's plant in Meridian after all. The total incentives it could rake in from the act alone, for building that $1.5 billion facility, would be about $200 million. Combine that with the $200 million in other incentives that is has been reported Mississippi would be willing to offer Kia for coming, and you have a package that it would be hard for any other state to beat.
One of Meridian's main competitors for the Kia project, Columbus, is also in the Hurricane Zone, so they would have the same incentives Meridian has. Of course, Columbus is already in the process of taking bonds to buy land, in case Kia or some other car maker decides to build there.
Now, the incentives are not just for new businesses. Some of the same tax incentives that can be used to entice new business to build could also be used to help exisiting business expand or renovate. That's why Gil Carmichael believes there could be a building boom.
That is obviously one of the story's we're working on tonight. Here are some of the others.
Cigarette/Grocery Tax - A new bill before the legislature that would cut the grocery tax while raising the cigarette tax.
Law Enforcement Awards - The top officers in this area are honored by the Exchange Club.
Prescription Drug Help - Ways to help seniors who need help understanding the new prescription drug plan.
Cholesterol Problems - Renee' Lasalle begins the first of a three part look at the problems.
Severe Weather Week - Charles continues his look at severe weather awareness.
The Meridian City Council and Lauderdale County Board of Supervisors also meet tonight. We'll update you on what happened at 10:00.
We've begun to see an uptick in the number of people visiting the blog, so we'd like to say thanks for that. And tell your friends. Have a great day.
posted by Wade Phillips at 3:21 PM
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