Archive for the ‘State’ Category
Speaking to more than 800 attendees at the Governor’s Energy Summit, Gov. Bryant announced the Fraser Institute has again ranked Mississippi among the world’s most attractive places for oil and gas investment. Mississippi ranks number two globally for energy policy and is first in its tier when energy policy is considered along with proven oil and gas reserves.
The Fraser Institute developed the rankings by surveying petroleum industry executives about barriers to investment in 157 oil- and gas-producing regions throughout the world. According to the report, barriers to investment can include high taxes, cost of regulatory compliance, uncertainty over environmental regulations and the interpretation and administration of regulations.
With the finalization of Renasant Bank‘s merger with M&F Bank, the last six of nine planned branch closures will be completed by Monday, when conversion officially happens.
On Friday, former M&F Bank locations in Tupelo – on South Gloster Street, in downtown Tupelo and on West Main Street – will close for good at 5:30 p.m.
The three remaining branches in Kosciusko, Southaven and Birmingham will close on Monday. All are former M&F Bank locations except Birmingham.
Renasant had earlier closed its Oxford Square location, and M&F’s branch in Starkville and Grenada.
John Oxford, vice president of external affairs for Renasant, said all of M&F will be fully consolidated with Renaasant, including systems, products and services.
From Mississippi State University:
A new report finds Mississippi State actively engaged with a wide variety of industries that are growing local, regional and state economies, while also contributing to partnerships that foster international exchange and trade.
“Our central economic development objective is to strengthen collaborations between the university, organizations and businesses to create high-wage jobs,” said Melvin Ray, the university’s associate vice president for economic development.
The MSU Office of Research and Economic Development today released “University-Industry Engagement Report, FY2013″ that details the university’s economic development-related activities and their impact. The entire report is available here.
The document provides a summary of the land-grant institution’s efforts to enhance economic opportunity in Mississippi and beyond, based on a survey of participating MSU research centers, institutes and the campus-based Mississippi Agricultural and Forestry Experiment Station.
According to its chief research officer, the university’s commitment to help expand the state’s economy is by design.
“We have taken purposeful steps to make innovation, entrepreneurship and community engagement priorities on our campus; we have been building that culture with students, faculty and staff,” said David Shaw, vice president for research and economic development.
Among other points, the report notes that:
- The highest number of completed projects was in Oktibbeha (60), Lee (29) and Hinds (28) counties.
- Sizes of companies receiving assistance in the 2013 fiscal year ranged from student-led start-ups to multi-national corporations.
- A neutral, third-party has estimated that, in collaborative work with a number of companies, the Center for Advanced Vehicular Systems Extension Office had a $1 billion annual impact over the past five years.
“We deploy a wide range of tools to enhance opportunity and establish profitable connections, such as the Economic Development Assistance Network,” Ray said.
“EDAN was created as a resource for economic developers, business owners, entrepreneurs and others in business and industry, and is designed to quickly connect them with Mississippi State experts and their expertise,” he added.
The Secretary of State’s Office has received numerous inquiries regarding a company called Compliance Services, which has apparently been soliciting businesses across the state. In what appears as an official correspondence, Compliance Services requests businesses to provide sensitive information and a check for $125. In return, the company would prepare an “Annual Minutes Requirement Statement.”
“Compliance Services is not registered as a corporate entity in Mississippi. The phone for this organization has been disconnected, and its mailing address is a UPS box in Flowood, MS. As always, I encourage Mississippi corporations to utilize extreme care in the disclosure of sensitive information.”
The solicitation correctly states, “This product has not been approved or endorsed by any government agency and this offer is not being made by an agency of the government.”
However, there is no “Annual Minutes Requirement Statement” form required by the Secretary of State’s Office.
“This Agency does not require the submission of such information with the State of Mississippi and opposes the collection of such information for public dissemination,” adds Secretary Hosemann.
If you have any questions, you may contact the Business Services Division of the Secretary of State’s Office at 601-359-1633.
From Northern District Public Service Commissioner Brandon Presley:
(Presley) joined with leaders from around the nation to announce Mississippi as the nation’s most improved state on energy efficiency. Presley’s announcement came at a national press event hosted by The American Council for an Energy-Efficient Economy (ACEEE), a Washington D.C.-based energy think tank. The event was held to present the findings of the organization’s seventh annual State Energy Efficiency Scorecard, which ranks U.S. states on their policy and program efforts. Mississippi’s “most improved” status marks a dramatic turnaround from the year before, where Mississippi was ranked last in the nation.
For too long, Mississippi has ranked dead last in the nation in the area of energy efficiency. We Commissioners have been determined since the first day in office to get our state off of the bottom in this category,” Presley said. “This was a bipartisan effort by the Commission to move Mississippi ahead and we succeeded, not by worrying about silly partisan politics but by focusing on solutions and fixing the problems facing our state.”
In July, the Commission unanimously passed groundbreaking energy efficiency rules which will produce an estimated $2 billion savings directly to customers over the next twenty years and create 9,500 private sector, non-governmental jobs by the year 2020. The Commissions’ rules were instrumental in the state’s ranking turnaround, with Mississippi moving from dead last in the nation in 2012 to what ACEEE calls a “new regional leader in energy efficiency.”
According to the Tax Foundation, Mississippi has the 17th-best tax climate in the country.
Not bad to be in the top third of the nation’s 50 states. And there are 50 states, and not 51, or even 57, for those who aren’t sure.
Here’s the Foundation’s press release:
The tax climate of Mississippi ranked 17th this year out of all 50 states, according to a new report by the Tax Foundation. The Magnolia State’s rank remains unchanged from 2013 in the 2014 State Business Tax Climate Index.
Several states have moved in the rankings since last year, with Texas dropping out of the top ten for the first time, landing at #11, and Virginia and Kentucky both falling three places to #26 and #27, respectively. On the positive side, Arizona climbed five ranks to #22 and Kansas shot up six spots to #20. Several other states also saw smaller changes.
“The states that lost ground this year usually did so because they changed policy in a way that makes the tax code more complex, burdensome, or economically harmful,” said Tax Foundation economist Scott Drenkard. “By contrast, the states that improved did so because they are moving closer to a tax code that collects revenue without unnecessarily distorting business decisions. Their tax codes became more neutral.” Read the rest of this entry »
A German powertrain maker will build its first American factory in Tunica, with plans to invest $140 million and hire 300 people over five years.
Feuer Powertrain Gmbh & Co. KG says it hopes to start production by early 2015 at the 156,600 square-foot plant it will build. Feuer will make forged crankshafts for cars, trucks and heavy equipment.
“After an intensive site selection process, we are convinced that our decision to locate our first overseas manufacturing facility in Tunica, Mississippi, is the right move,” CEO Bernd Gulden said in a statement.
Feuer was founded in 2002 by Dieter Feuer, who is the majority owner of the firm. The company says that its customers include General Motors Co., Ford Motor Co., Chrysler Group, Ferrari, Jaguar, Volkswagen AG, BMW AG and Cummins Inc. Its crankshafts are used in cars with diesel engines as well as trucks, agricultural equipment and generators.
“Feuer’s decision to invest in Mississippi strengthens our state’s growing automotive industry,” Gov. Phil Bryant said in a statement.
The company runs five factories at its headquarters in Nordhausen, Germany. Feuer produces about one million crankshafts a year, and has been in an expansion mode lately. It announced in late 2012 that it had bought the assets of a competitor and that its yearly Read the rest of this entry »