ECONOMIC DEVELOPMENT
Taxes & Incentives
Growth and Prosperity (GAP) Program
Explanation of Incentives
Choctaw County is a state approved Growth and Prosperity (GAP) area. Any approved business facility that locates or expands in a GAP designated county can receive the following:
Exemption from State Taxes (Income, Franchise, and Sales/Use) for Ten Years
If the business already has a facility or other activity in Mississippi then such business will only receive benefits for the GAP facility. In addition, the sales/use tax exemption covers only the purchase of component building materials and equipment for the initial construction of facilities or expansion.
Exemption from Local Taxes (Property Tax) for Ten Years
This exemption includes all taxes except for school and fire and police protection.
The following types of new or expanding businesses are eligible to participate under the GAP program:
- Manufacturing, processing, assembling, storing, warehousing, servicing, distributing or selling of any products or goods, including products of agriculture;
- Enterprises for research and development, including, but not limited to, scientific laboratories: or
- Other businesses or industries that will further the public purposes of the GAP Act as determined on a case-by-case basis by MDA (Mississippi Development Authority)
MDA defines a new business as one that creates and maintains ten net new full-time jobs for a ten year period. MDA defines an expansion as one that creates and maintains ten net new full-time jobs for ten years supported by additional or new construction and/or purchases of new equipment and other items. Eligibility will be determined on a case-by-case basis.
