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State and local developers marketing great GO Zone options.

Publication: Mississippi Business Journal
Publication Date: 26-MAR-07 		Format: Online
Delivery: Immediate Online Access
Full Article Title: State and local developers marketing great GO Zone options.(Gulf Opportunity Zone Act )

Article Excerpt
The Gulf Opportunity Zone Act is the best economic development tool ever given to the state. That's how Brian Sanderson, president of the Gulf Coast Business Council, describes this important piece of legislation.

Others agree. That's why the Mississippi Development Authority (MDA) has held many seminars to help economic developers understand the GO Zone incentives.

"We like to think of ourselves as points of contact for economic developers and their partners," said Jay McCarthy, director of financial resources for MDA, an arm of the state agency that provides technical assistance for local developers.

The seminars consist of tutelage of the two main types of incentives--tax-exempt financing and federal tax credits. McCarthy says both are definitely market benefits.

Not a bank

"The state got an allocation of $4.1 billion as a financing instrument, but the state does not issue bonds. That's one of the main misconceptions," he said. "The Mississippi Business Finance Corporation is...

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