Home > Chambers of Commerce, Economic Development News > Economic Development News Week of December 7, 2009

Economic Development News Week of December 7, 2009

General Atomics’ Electromagnetic Systems Division (GA-EMS), manufacturer of advanced linear motors for electromagnetic aircraft launching systems (EMALS), has broken ground on its phase IV, 50,000-square-foot expansion at its 72,000-square-foot manufacturing facility in Shannon.  The project will create at least 20 new jobs.

Forbes.com has rated Jackson the third best “bang-for-the-buck” city out of the 100 largest metropolitan areas in the country.
http://www.jacksonfreepress.com/static/jfpdaily120209.php and 

Forbes.com has rated Jackson the 42nd America’s Fastest-Recovering Cities

Five ports on the Tenn-Tom in Northeast Mississippi have launched the joint initiative to boost awareness and traffic on the waterway. Called “GROWPORTS…

To help meet Mississippi’s growing energy needs and stabilize rising electricity costs, Entergy Mississippi, Inc. has announced that the Mississippi Public Service Commission approved plans for a major upgrade to the Grand Gulf Nuclear Station in Port Gibson, Mississippi.

John Hendrix, director of economic development for the Mississippi Band of Choctaw Indians, has been installed as the 2010 Mississippi World Trade Center president.

The 2009 Governor’s Award for Excellence in Exporting was presented at the Mississippi World Trade Center’s Annual Meeting and International Business Awards Luncheon. The company was nominated by Larry Barnett, Executive Director, Harrison County Development Commission.

Lyn Arnold, president and CEO of the Tunica County Chamber of Commerce and Economic Development Foundation, said Friday that she hopes the company can work out its private financing.

Advantage Capital Partners and its small business lending division BizCapital provided Mississippi New Markets Development program financing to Capturion Network, LLC, an innovative company which sells, installs and services digital scoreboards for sports and entertainment venues nationwide.

The City of Horn Lake has secured all of the funds needed for a multi-million-dollar project benefiting a local business.  …The city would be taking advantage of a $520,000 interest-free loan through the Mississippi Development Authority’s Freight Rail Program.

The EDA would be known as either Natchez Economic Development Corporation or Natchez Inc., a $380,000 per year marketing enterprise funded by Adams County, the City of Natchez and private investors.

The U.S. Department of Energy (DOE) has approved the State of Mississippi’s plan for a residential rebate program for the purchase of ENERGY STAR-rated appliances. The Mississippi Development Authority (MDA) will administer the rebate program, which is expected to launch in Spring 2010.

Toyota is now denying the Nikkei report. Spokeswoman Barbara McDaniel tells the Northeast Mississippi Daily Journal that “nothing is decided” but that the company remains committed to opening the Blue Springs facility.

The Mississippi Development Authority (MDA) has awarded 25 grants in the first round of the Mississippi Job Protection through Energy Economic Development Program.

Residents in Kemper County were able, for the last time, to gather and voice their concerns or issues over the proposed $2.2 billion lignite coal plant Mississippi Power is planning to build.

Chad Newell, the Meridian native will return to Hattiesburg to serve as the new president of Area Development Partnership.
 http://www.hattiesburgamerican.com/article/20091124/NEWS01/91124011/USM-alum-chosen-as-new-ADP-president  and

The Madison County Chamber of Commerce has a new executive director.

Jackson County residents give input on plans for old IP plant. The company presentation also touched on economic development, including a $2 billion local investment, 1,000 construction jobs for up to four years, 177 full-time jobs and about $70 million per year spent locally on salaries and purchasing.

While the economic problems of the Mississippi River Delta region are long-standing and complex, there is hope for the region and it lies directly under our feet.  Simply put, the bioeconomy is an economic engine based around the utilization of plant-based materials in a wide variety of bio-based products, including chemicals, plastics and biofuels.

Carol Hardwick, Executive Director
Mississippi Economic Development Council (MEDC)
P. O. Box 3721, Jackson, MS  39207
MEDC 2010 Winter Conference . February 3-5 . Hilton . Jackson
MEDC 2010 Summer Conference . July 21-23 . Beau Rivage . Biloxi

MEDC is Mississippi’s professional association of economic development and chamber of commerce professionals. 

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