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Mississippi has consistently ranked among the top ten states having the most favorable business climates. From our state government to a the local leaders of Water Valley, our commitment to a positive business climate is evident. In addition to an outstanding geographic location, superb quality of life, and prime industrial property, Mississippi provides many other industrial and business incentives. For example: The Economic Development Reform Act (RED Act) includes: a jobs tax credit program allowing counties to offer varying tax credits based on their rate of unemployment and per capita income a 25 percent income tax credit is allowed for employers providing contracting for child care basic skills training and/or retraining programs are also eligible for credit even ad valorem tax exemptions and exemptions on replacement equipment purchases are available The Rural Economic Development Assistance Program allows many companies to receive credits on Mississippi corporate income taxes and assess new employees job development fees to offset annual debt service on the bonds. This program reduces the interest costs of financing projects for companies through the issuance of both taxable and tax-exempt bonds. State financed industrial star-up training programs Favorable unemployment tax and workers' compensation insurance laws Abundant, skilled labor at reasonable rates Property tax exemptions Innovative financing Reasonable taxes
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