Over the last five years Mississippi has steadily progressed from its traditional position as the poorest state in the nation. Increased development in the Mississippi Delta has been a leading element in the state’s surge to-wards greater economic prosperity. This area of Mississippi has high quality resources, infra-structure, and labor power which provide entrepreneurs with a number of opportunities for success. However, if the Mississippi Delta is to continue its starting progress, the general publi

c needs more information about the empowerment tools which are available to help enterprising individuals harness the area’s many assets. While it is impossible to fully summarize the numerous sources of assistance now available, there are several key business-related services offered by a number of public and private entities which operate in the Mississippi Delta

The Mid-Delta Empowerment Zone (MDEZ) is a federally designated area in parts of Washington, Bolivar, Sunflower, Leflore, Humphreys and Holmes Counties in which employers can receive a tax credit of up to $3,000 for each newly created job. Among a number of other incentives, businesses located in the MDEZ are eligible to benefit from millions of dollars in federal grants and loans made available in the area. The Mid-Delta Empowerment Zone Administration, which is based in Itta Bena at Mississippi Valley State University, can provide more information about the opportunities made available in the MDEZ.

Similar to the MDEZ, the North Delta Enterprise Community provides a number of benefits for businesses located in parts of Panola, Quitman, and Tallahatchie Counties.

Most entrepreneurs are interested in the incentives for locating in a particular area, but many have excellent ideas which they can not properly implement because of a lack of proper financial support or technical assistance. There are both federal agencies and private organizations in the Mississippi Delta which offer financial assistance for people starting businesses or trying to improve a business. A number of these entities also offer training for businessmen and women in everything from computer services to grant and loan applications.

The 7(a) Loan Guaranty Program, among a number of other small business initiatives operated by the Small Business Administration (SBA), is a prime source of funds for small businesses unable to secure financing through normal lending channels. The SBA office in Jackson can provide more information about the 7(a) and other loan programs. Jackson’s SBA office and more than twenty SBA Development Centers across the state also provide technical assistance to entrepreneurs and sponsor seminars that can be of great assistance to businessmen and women.

In addition to loans offered by the SBA, the Rural Development office of the United States Department of Agriculture (USDA) and the Department of Commerce’s Economic Development Administration offer grants or loans which can be utilized for starting businesses or improving existing enterprises. The Business and Industry Direct Loan Program offered by the USDA, for example, provides loans of up to $10 million to public and private parties who cannot obtain credit from other sources.

Entrepreneurs seeking financial assistance can also receive help from the the North, South, and Mid-Delta Planning and Development Districts located in the Mississippi Delta as well as the Three Rivers Local Development Company based in Pontotoc, the Central Mississippi Development Company in Jackson, and the Delta Foundation headquartered in Greenville.

Obtaining the resources and training needed to operate a successful business in the Mississippi Delta has never been easier than it is today, but no businessman or woman will be truly successful unless he or she is adequately informed. If you are interested in entering the business field - especially if you have little real experience - I can not emphasize enough how much help you can obtain.

I look forward to the Delta Business Journal’s regular publication of information on opportunities for business assistance, which will be a valuable service to residents in the Mississippi Delta. In addition, if you need further information about the entities I have discussed, please feel free to contact them or to call my toll-free hotline 1-800-355-9003. DBJ

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Site last updated January 10, 1999.