Senate Bill 2060

AN ACT TO ESTABLISH THE WEST MISSISSIPPI INCUBATOR GRANT PROGRAM IN COOPERATION WITH THE MISSISSIPPI DEPARTMENT OF FINANCE AND ADMINISTRATION'S OFFICE OF SURPLUS PROPERTY, LOCAL DEVELOPMENT DISTRICTS AND COUNTY GOVERNMENTS IN HUMPHREYS, MADISON, SHARKEY, SUNFLOWER, WASHINGTON AND YAZOO COUNTIES; TO SET FORTH THE PURPOSE OF THE PROGRAM; AND FOR RELATED PURPOSES.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI:

SECTION 1. (1) The Mississippi Development Authority is hereby authorized to establish the West Central Mississippi Incubator Grant Program, which shall be a collaborative partnership with the Mississippi Department of Finance and Administration's Office of Surplus Property, the Mississippi Association of Cooperatives, the Humphreys County Board of Supervisors, the Madison County Board of Supervisors, the Sharkey County Board of Supervisors, the Sunflower County Board of Supervisors, the Washington County Board of Supervisors, the Yazoo County Board of Supervisors, the Belzoni-Humphreys Development Foundation, the Madison County Economic Development Authority, the Sunflower County Economic Development District, the Washington County Economic Alliance, the South Delta Planning and Development District, and the Central Mississippi Planning and Development District. The Mississippi Development Authority, along with each entity specified above, shall act as a planning council to establish the West Central Mississippi Incubator Grant Program, which will be an entrepreneurship program to grow new businesses and micro-enterprises in west central Mississippi.

(2) The purpose of the West Central Mississippi Incubator Grant Program shall be to assist the development of new businesses in west central Mississippi, through assistance and access to resources provided through the entities named in subsection (1) of this section. Services will include shared office space, utilities and equipment, reduced rents, access to technical and business personnel, building security and janitorial services, on-site office support and management assistance. Graduates of the incubator program will create more jobs and strengthen the local economy in the west central Mississippi region. Funds and resources are to be provided for the establishment of one (1) incubator in each of the following counties, the location of which is to be determined by the Mississippi Development Authority in consultation with the entities named in subsection (1) of this section: Humphreys, Madison, Sharkey, Sunflower, Washington and Yazoo.

(3) The West Central Mississippi Incubator Grant Program will be under the administrative oversight of the Mississippi Development Authority, which is authorized to enter into contracts for the operation of the incubator and to receive and expend funds for the support of the incubator from public and private sources.

SECTION 2. This act shall take effect and be in force from and after July 1, 2020.