Barbour announced his plans at Momentum Mississippi’s annual board meeting Tuesday, November 14.
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Gov. Haley Barbour
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Anthony Topazi
Momentum Mississippi Chair
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The meeting, chaired by Anthony Topazi, president and CEO of Mississippi Power, and attended by more than 75 leaders, gave board members an opportunity to provide input on major initiatives under way with Momentum Mississippi.
The following Presentations were made:
Economic Data by Dr. Phil Pepper, State Economist
Status of Gulf Coast Recovery by Momentum Chair Anthony Topazi of Mississippi Power Company
Technology Development & Transfer by Chancellor Robert Khayat of the University of Mississippi and Ambassador John Palmer of GulfSouth Capital
1. Technology Commercialization Fund
2. Mississippi Angel Fund
3. Mississippi Defense Initiative
Workforce Development by Jim Lott of the Mississippi Department of Employment Security
1. Results and accountability
2. Proposed Accountability Expansion
Economic Development by Leland Speed, Director, Mississippi Development Authority; Dave Dennis of Specialty Contractors (Momentum Tourism Committee Chair) and Gray Swoope, Deputy Director of the Mississippi Development Authority
1. Impact of Incentive Legislation
2. Existing Industries
3. Proposals for
o Tourism Incentives
o Film-making Incentives
o Economic Development Incentive Adjustments
Momentum Mississippi Looking Forward by Momentum Chair Anthony Topazi of Mississippi Power Company
Presentation by Governor Haley Barbour
Top priorities are:
1. An incentive program to grow the tourism industry
2. Incentives to promote film industry activity in Mississippi
3. Establish an R&D Fund to accelerate research in our universities
that leads technologies of commercial value to the State
4. An initiative to expand the growth and development of the defense
industry
Momentum Mississippi has also established an Angel Fund for start-up capital for new technology businesses, funded exclusively by the private sector. The goal is to have $10 million in the fund by the end of 2006. Plans call for a $20 million fund by the end of 2007.
Momentum Mississippi was created in 2004 by Governor Barbour as a sustained long-range economic development implementation organization using the Blueprint Mississippi plan as a foundation.
Using an electronic voting procedure, 96 percent of the board members in attendance supported the establishment of the $4 million R&D Fund for commercial applications.
The effort to create incentives to grow tourism garnered the support of 89 percent of the attendees, while 85 percent said they supported more aggressively marketing tourism.
Work-force development was also discussed at the meeting, with emphasis placed on an accountability program to insure dollars spent on work-force training are achieving their goals. Last year more than $18 million was provided through the Workforce Enhancement Training Fund.
Through the accountability program, state and federally funded work-force training should help people get and retain jobs, create an environment for better jobs and help meet the work-force needs of businesses in Mississippi.
The plan for an accountability program for monitoring the effectiveness of work-force training received the support of 98 percent of the board.
Other issues voted on included 64 percent of board members saying the state’s the availability of a trained work force is inadequate, while 34 percent believed the state’s work force is marginally trained. Only 2 percent believe the work force had adequate training.
Also, 98 percent of those voting supported Momentum Mississippi’s goal of improving employment growth and increasing per capita Income in the state.
Momentum Mississippi Chairman Anthony Topazi provided information on the Mississippi Gulf Coast’s recovery from Hurricane Katrina. Topazi outlined areas that needed to be addressed. He said that the primary issues for the coast’s recovery are housing and insurance. The use of Modular construction, available land and a more efficient permitting process are keys to solving the affordable housing issue.
Topazi also said the implementation of a water and sewer master plan was vital for development on the Coast.
Board members also received an update on Momentum Mississippi programs already in place.
Since the Momentum Mississippi Incentive Program was passed in 2005 by the Mississippi Legislature, 23 counties in Mississippi have taken advantage of the program. Twelve of those were Tier 2 and Tier 3 counties.
Over 7,500 jobs have been committed by companies taking advantage of incentives offered through the following Momentum Mississippi Programs: The Ace Fund Program; the Development Infrastructure Program; the Existing Industry Loan Program; the Incubator/R&D Loan Program; the Job Protection Act; and the Advantage Jobs program.
to view the PowerPoint presentation
to view the voting results
