Plain English Breakdown
The bill did not pass during its session and thus has no effective date or further details on funding availability.
West Central Mississippi Incubator Grant Program
This bill establishes the West Central Mississippi Incubator Grant Program to assist new businesses and micro-enterprises in six counties through collaboration with local entities.
What This Bill Does
- Establishes the West Central Mississippi Incubator Grant Program, a collaborative effort involving the Mississippi Development Authority, county governments, and local development districts.
- Provides shared office space, utilities, equipment, reduced rents, technical assistance, business personnel support, building security, janitorial services, on-site office support, and management assistance to new businesses in six counties: Humphreys, Madison, Sharkey, Sunflower, Washington, and Yazoo.
- Requires the establishment of one incubator center in each of the six named counties with support from local governments and development districts.
- Authorizes the Mississippi Development Authority to enter into contracts for operating these centers and to use public and private funds to support them.
Who It Names or Affects
- New businesses and micro-enterprises in West Central Mississippi
- Local government entities in Humphreys, Madison, Sharkey, Sunflower, Washington, and Yazoo counties
Terms To Know
- Incubator Grant Program
- A program that helps new businesses grow by providing them with resources like office space and technical support.
- Micro-enterprises
- Very small businesses, often just starting out.
Limits and Unknowns
- The bill did not pass in the session it was introduced.
- It is unclear how much funding will be available for each incubator center.
- Details about specific services and support provided to new businesses are not fully detailed in the summary.