MS SB2850

Qualified businesses creating at least 300 new direct jobs with wages at least 150% of the state or county average annual wage can receive the full 10-year incentive payment period, regardless of when they originally applied for the incentive.

Businesses must meet and maintain the job and wage requirements for four consecutive calendar quarters to qualify for the extended incentive period.

The wage threshold is locked in at the time the minimum number of jobs is created and remains constant for the duration of the incentive period.

The bill amends Section 57-62-9 of the Mississippi Code, which governs the Mississippi Advantage Jobs Act incentive payments to qualifying businesses and industries.

Existing provisions allowing projects creating 3,000+ jobs to receive an additional 5-year period, or 4,000+ jobs for an additional 10-year period, remain in place alongside the new 300-job threshold option.