County OKs tax credits
Published 12:00 am Tuesday, October 2, 2001
Tuesday, October 02, 2001
The Natchez Democrat
In its Monday meeting, the Adams County Board of Supervisors
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adopted a resolution of support for an application to make 13
counties in Mississippi a rural renewal community.
State officials will soon submit to the U.S. Department of
Housing and Urban Development an RC application for an area extending
north through Madison County.
If the designation is approved, businesses in the area would
get a tax credit of up to $1,500 on the first $10,000 of each
worker’s taxable income, provided those employees also live in
the RC area.
&uot;Being a renewal community is extremely important,&uot;&160;said
Michael Ferdinand, executive director of the Natchez-Adams County
Economic Development Authority. &uot;It’s difficult for any area
to apply for and receive federal tax credits.&uot;
When someone looking for a new location for a company comes
to town, &uot;many times, they’re looking not for reasons to
come to your area, but for reasons to eliminate you from their
list,&uot; Ferdinand said. One of those reasons, he said, could
be the absence of such tax credits.
The Natchez Board of Aldermen voted Sept. 25 and the Jefferson
County Board of Supervisors voted Tuesday to also join the application,
said Natchez Community Development Director James Johnston.
The governor’s office should submit an RC application next
week to HUD, which should decide by the end of the year which
areas will be designated rural RCs.
Only 15 areas in the nation will be designated as rural RCs.
The application will include a map of the proposed RC area, which
must be contiguous and must include less than 200,000 people.
Johnston and Ferdinand told supervisors they will send the
governor’s office several different configurations of Adams County
census tracts that could be included in the proposed RC area.