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HEALTHCARE & B IOTECH IN MISSISSIPPI
mississippi.org/biotech
Mississippi’s innovative spirit is the driving force behind its biotechnology and
life sciences pioneers. For 50 years, Mississippi has been at the forefront of
healthcare research and development - from the United States’ first lung transplant
in 1963 performed by Dr. James Hardy to the first synthetic organ transplant in 2011
made possible by Hybrid Plastic’s POSS® nano chemical developed in Hattiesburg.
The state is among many firsts in the healthcare industry.
A growing list of healthcare companies are taking advantage of all Mississippi
has to offer. In 2013, Teleflex, a leading global provider of medical devices for
critical care and surgery, relocated its distribution operations to Olive Branch,
Mississippi. Baxter Healthcare Corporation, a bioscience and medical products
company, employs more than 700 workers at their manufacturing plant in
Cleveland. GeriCare Pharmaceuticals, the nation’s largest producer of liquid
antacids, manufactures products in Gulfport. Additionally, two Fortune 20
companies have distribution facilities in Mississippi: Cardinal Health and McKesson.
Expansion Solutions Magazine, 2013
M I S S I S S I P P I R A N K S
TOP 5 IN ADVANCEDMANUFACTURING
Area Development Magazine, 2014
M I S S I S S I P P I R A N K S
TOP 10 STATES FOR
DOING BUSINESS
M I S S I S S I P P I R A N K S
#6 OVERALL COST OF
DOING BUSINESSArea Development Magazine, 2014
Mississippi is committed to understanding and meeting businesses’ needs. Our state
provides one of the strongest workforce training programs in the nation through our
community college network. State officials work closely with companies to tailor
workforce training programs to meet specific industry needs.
In addition to a steady talent pool of healthcare and biotechnology workers specializing
in pharmiceuticals, polymer science, and advanced manufacturing, Mississippi’s
university system offers exceptional research facilities.
The University of Mississippi Medical Center in Jackson is a leading health science center
and research institution. UMMC contains a school of medicine, nursing, dentistry, graduate
studies, health-related professions, and pharmacy. Located in Oxford, the University of
Mississippi School of Pharmacy is a major research institution where research scientists
help Mississippi industries enhance their competitiveness. In Hattiesburg, the College of
Osteopathic Medicine at William Carey University educates medical students at training
sites spanning a five-state region. Additionally, the state has five four-year institutions with
nursing schools and numerous healthcare occupation programs.
Resources for healthcare manufacturing abound in
Mississippi. For example, the Mississippi Polymer
Institute, located in Hattiesburg as part of the University
of Southern Mississippi, helps companies in the plastics/
polymers industry find solutions, train employees, and
improve processes and products. The institute has one
of the most advanced rapid prototyping systems in the
world. Also, the Center for Manufacturing Excellence,
part of the University of Mississippi in Oxford, educates undergraduate students
interested in a career in manufacturing. The CME maintains close ties to the real-world
manufacturing industry through its advisory board, which includes executives from
Toyota and GE Aviation’s nearby plants and other companies throughout the state.
Skilled Workforce
Memphis
Little Rock
Birmingham
Mobile
New Orleanss
Jackson
Gulf of Mexico
ALABAMA
TENNESSEEARKANSAS
FLORIDALOUISIANA
55
2020
2020
Hattiesburg
59
8282
22
StarkvilleMississippi State
University
The University of SouthernMississippi
Jackson StateUniversity
The University of Mississippi
Oxford
MISSISSIPPI
Research the Mississippi advantages at Mississippi.org/biotech.
Mississippi Research Universities
Mississippi offers a strong, supportive business climate. The spirit of
cooperation is high, and the price of doing business is low. Construction
costs, energy rates, and business tax rates in Mississippi fall below the
national average. The state offers a variety of incentive programs, which can
be customized to meet the needs of each project.
Business Incentives
Customized incentive and financing programs to meet the needs of each individual investment project.
STRONG INCENTIVES PORTFOLIO
INFRASTRUCTURETAX WORKFORCE GRANTS &LOANS
up to
Physician’s Practice, 2014
M I S S I S S I P P I R A N K S
#1BEST STATES TO PRACTICEMEDICINE
American Telemedicine Association, 2014
M I S S I S S I P P I R A N K S
TOP 7 STATES EARNING AN “A” GRADE FOR
TELEMEDICINEKiplinger, August 2014
M I S S I S S I P P I R A N K S
#4MOST TAX-FRIENDLYSTATES FOR BUSINESSES
In 2012, the Mississippi
Legislature passed the Health
Care Industry Zone Act, providing
incentives to health care-related
businesses that locate or expand
within a qualified Health Care
Zone. The incentive aims to
encourage health care-related
businesses to locate or expand
within a qualified Health Care
Zone in the state. To qualify for
assistance through this program,
health care-related businesses must commit to create at least 25 full-time
jobs and/or invest $10 million.
ELIGIBLE HEALTHCARE PROJECTSEligibility to receive assistance through the Mississippi Health Care Industry Zone
Act will be determined by location, capital investment, job creation, and business
service. To qualify, a project must be certified as an eligible “Health Care Industry
Facility” and locate in an eligible “Health Care Industry Zone.” To receive
incentives, the project must apply and be certified before the facility is in operation.
ELIGIBLE HEALTH CARE INDUSTRY FACILITIES ARE:
Mississippi Health Care Industry Zone Act
• Medical supply➢ • Biologics➢ • Laboratory testing➢ • Medical product distribution➢ • Diagnostic imaging • Biotechnology➢ • Pharmaceutical research and development
• Medical service providers• Nursing and assisted living facilities• Medical equipment or medicine production and related manufacturing or processing
INCENTIVES PROVIDED:
Certified Health Care Industry Facilities are eligible to receive the following incentives
through the Mississippi Health Care Industry Zone Incentive Program:
• An accelerated, 10-year state income tax depreciation deduction; and• A sales tax exemption for equipment and materials purchased from the date of the
project’s certification until three months after the facility is completed.
In addition, the program allows counties and cities to grant a property tax “fee in lieu” for
10 years for any certified project with an investment of more than $10,000,000 or a 10-year
ad valorem tax exemption, subject to approval by the city and/or county.
CERTIFICATION PROCESS
All Mississippi Health Care Industry Facilities must apply for certification by submitting a
completed application to MDA.
APPROVAL PROCESS
Upon determination that all program requirements are met, a Mississippi Health Care
Industry Zone Certificate will be issued. This certification must be provided to the Department
of Revenue and local units of government to obtain the statutory tax incentives.
For a full list of qualifications and application forms, contact MDA’S Financial Resources Division at 601.359.3552
Mississippi Development Authority
Post Office Box 849
Jackson, Mississippi 39205
1-800-360-3323 • 1-601-359-3155
HealthcareMS1014
mississippi.org/biotech