IMPLEMENTATION LEVEL

Subnational

AFFECTED FLOW

Inflow

ANNOUNCED AS TEMPORARY

No

NON-TRADE-RELATED RATIONALE

No

ELIGIBLE FIRMS

firm-specific

JUMBO

No

TARIFF PEAK

No
← back to the state act
Inception date: 05 Feb 2016 | Removal date: open ended
Still in force

Tax or social insurance relief

On February 5, 2016 the Mississippi state legislature approved a plan to borrow $274 million and provide millions in tax breaks to attract a tire plant in Hinds County and a shipyard in Gulfport. According to press accounts, Continental Tire plans to build a $1.45 billion plant to make industrial tires. The deal that it reached with the state provides for the employment of 500 people by the time that the plant opens in 2019 and 2,500 people by 2028. The state will borrow $263 million for the tire plant and help with site acquisition and preparatory work, roads and other infrastructure, workforce training and help with building costs. Hinds County will pay off $20 million of the debt. The tire plant will be given 25-year income tax and corporate franchise tax exemptions, sales tax exemptions, and roughly $3 million a year in rebates on employee income tax collections. The firm Edison Chouest of Louisiana plans to invest $68 million in its Topship yard on the Industrial Seaway in Gulfport. Topship makes service and supply vessels for offshore oil and gas exploration rigs. The company plans to complete construction by 2018 and create 1,000 jobs. The state will borrow $11 million for the port project to help with infrastructure, workforce training and other costs, coupled with $25 million in federal port money. The shipyard will receive 20-year income tax and franchise tax exemptions, sales tax and other exemptions or rebates. Lawmakers held a special, one-day session and approved the subsidies in a single bill. The deal cleared the House of Representatives by a vote of 118-3 and the Senate by 48-3.

AFFECTED COUNTRIES

MAP
TABLE
EXPORT

AFFECTED SECTORS AND PRODUCTS

361 Rubber tyres & tubes
4011 New pneumatic tyres, of rubber.
401110 Of a kind used on motor cars (including station wagons and racing cars)
401120 Of a kind used on buses or lorries
401130 Of a kind used on aircraft
401140 Of a kind used on motorcycles
401150 Of a kind used on bicycles
401161 Of a kind used on agricultural or forestry vehicles and machines
401162 Of a kind used on construction or industrial handling vehicles and machines and having a rim size not exceeding 61 cm
401163 Of a kind used on construction or industrial handling vehicles and machines and having a rim size exceeding 61 cm
401169 Other
401192 Of a kind used on agricultural or forestry vehicles and machines
401193 Of a kind used on construction or industrial handling vehicles and machines and having a rim size not exceeding 61 cm
401194 Of a kind used on construction or industrial handling vehicles and machines and having a rim size exceeding 61 cm
401199 Other
444 Machinery for mining, quarrying & construction; parts
8430 Other moving, grading, levelling, scraping, excavating, tamping, compacting, extracting or boring machinery, for earth, minerals or ores; piledrivers and pileextractors; snowploughs and snow blowers.
843010 Piledrivers and pileextractors
843020 Snowploughs and snowblowers
843031 Selfpropelled
843039 Other
843041 Selfpropelled
843049 Other
843050 Other machinery, selfpropelled
843061 Tamping or compacting machinery
843069 Other

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