Investment Incentives

At the Greenwood-Leflore-Carroll Economic Development Foundation, we make it easy for businesses to thrive by connecting them with a wide range of federal, state, and local incentives. Whether you’re expanding, relocating, or launching a new venture, our community offers numerous programs designed to support your success. Here’s a look at some of the key incentives that could benefit your project:

MFLEX

Mississippi’s new Mississippi Flexible Tax Incentive (MFLEX) is a streamlined tax credit designed for today’s evolving business needs. MFLEX allows companies to offset state tax liabilities with greater flexibility and simplicity. It eliminates the need for multiple applications, making the process transparent and easy. To qualify, businesses must create at least 10 jobs and/or invest $2.5 million or more. This incentive is ideal for industries such as manufacturing, distribution, R&D facilities, aviation, tech, and more.

Opportunity Zones

The Greenwood Leflore Industrial Park is located within a Qualified Opportunity Zone, which offers investors a powerful incentive for long-term investments. By reinvesting capital gains into an Opportunity Zone Fund, investors can defer capital gains taxes, reduce taxes for investments held for five years, and even enjoy tax-free appreciation on investments held for ten years. This federal program is perfect for developers looking to make an impact while gaining significant financial returns through real estate or business expansions.

Historic Tax Credits

If you’re looking to restore a historic property in one of Greenwood's National Register Historic Districts, Greenwood offers both Federal and State Historic Tax Credits. These credits allow developers to recover up to 45% of qualified rehabilitation costs. The Federal Historic Tax Credit offers 20% for income-producing properties, while Mississippi’s State Historic Tax Credit adds another 25%. This incentive not only preserves Greenwood’s rich architectural history but also makes rehabilitation projects more affordable for developers.

Brownfields Redevelopment

The Mississippi Brownfields Incentive is designed to encourage the cleanup and redevelopment of underutilized properties. Qualified remediation costs may receive a 25% tax credit, and with additional support through the Mississippi Economic Redevelopment Act, developers can receive reimbursement for cleanup costs. This program helps turn idle or abandoned properties into vibrant economic opportunities while ensuring a healthy environment for our community.

Property Tax Exemption

Eligible businesses in the Greenwood-Leflore-Carroll region can receive up to a 10-year exemption on property taxes for certain investments. This applies to real estate, machinery, equipment, and more for qualifying industries, including manufacturing, R&D, warehousing, healthcare, aviation, and telecommunications. Available at the discretion of city and county governing boards, this local incentive helps companies focus on growth and expansion.

Tax Increment Financing

Tax Increment Financing (TIF) is an excellent tool for funding public infrastructure improvements tied to private developments. TIF captures the future increase in property taxes and uses it to finance infrastructure costs such as roads, utilities, and parking. Whether you’re developing commercial, residential, or industrial projects, TIF allows for upfront savings while enhancing long-term property value and economic growth.

Greenwood Historic District Tax Abatement

The Greenwood Historic Preservation Tax Abatement offers up to seven years of municipal tax relief for developers rehabilitating historic properties within the Main Street Greenwood District. This abatement significantly reduces the cost of restoring historic buildings, encouraging downtown revitalization and preserving Greenwood’s unique charm. To qualify, redevelopment projects must incorporate certain green building standards.

Ready to Invest?

For more information on how these incentives can benefit your project, contact the Greenwood-Leflore-Carroll Economic Development Foundation. We’re here to help you navigate the available programs and maximize your investment in our community.