| MEDC Annual Conference July 12 -14, 2017 Golden Nugget Biloxi, MS Rise Up: Professional Development Series Session 4 August 29, 2017, 4-5pm USM Thad Cochran Center Rm 218 A/B True South Basic Economic Development Course Trent Lott Center - Hattiesburg, MS September 11-14, 2017 The Human Capital Development Professional Development Series July 20-21, 2017 |
| Consultant, Regional Economic Development Nashville, TN Mississippi Development Authority Project Manager I Project Manager III Project Manager V Jackson, MS Tourism & Economic Development Specialist Tennessee Valley Authority Nashville, TN Economic Development Director West Plains, Missouri |
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Research Examines the Effect of Tax Increment Financing (TIFs)
Dr. Pete Fullerton, Assistant Director of Properties and Commercial Development for the Kansas City Aviation Department, completed his Human Capital Development dissertation,
The Effects of Tax Increment Financing on Assessed Land Values. This quasi-experimental study addresses the problem of knowing the fiscal impacts of TIFs by comparing the growth in assessed market value of land parcels in tax increment financing districts in Jackson County, Missouri, over a period of ten years. Findings indicate that tax increment financing does have a stimulating and significant effect on land value growth in Jackson County. Land parcels increase in value faster inside versus outside of tax increment financing districts. Specific building types such as office, residential, retail and public buildings in tax increment areas increase in value faster than the remainder of the county. Industrial property did not show significant increases. Recommendations are made to encourage office and retail developments due to strong value growth, as well as bringing additional benefits to communities.
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South Mississippi Highlighted at the Association of Defense Communities Summit
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Rep. Steven Palazzo (MS - 4th), U.S. House of Representatives and Col. Gregory Scott Michel, Post Commander, Camp Shelby Joint Forces Training Center participated in a panel discussing the South Mississippi Defense Corridor at the
Defense Communities National Summit in Washington, DC, which the Trent Lott National Center helped organize. The discussion on "How to Strengthen Regional Defense Sectors" included Sean Carlson, Executive Director, Michigan Defense Center, Lt. Gov. Evelyn Sanguinettie (IL) and was moderated by Sal Nodjomian, Executive Vice President, Matrix Design Group. This session discussed the various approaches that regional leaders can use to expand and strengthen small- and medium-sized defense firms through product innovation, market diversification and enhanced collaboration among defense contractors. These tools have potential to increase industry revenue, create jobs and boost companies' contracting capabilities for the
Department of Defense.
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Branding, Collaborating, and Diversifying a Defense
Community: The Case of the South Mississippi Defense Corridor
Bases representing the
Army, Air Force, Marine and Navy services have partnered with public and private partners to strengthen the region's position as leaders in joint training, defense-led economic development, and community/military cooperation through strategic use of infrastructure assets in South Mississippi. Working cooperatively, this defense community has achieved the approvals for a strategic port designation for the
Port of Gulfport, hosted foreign military sales summits to attract the defense industry to do business in the region, worked with the state economic development organization to create a branding campaign, and established a leadership network. The University of Southern Mississippi is an active partner in the network and received a Department of Defense Office of Economic Adjustment grant to launch the
Mississippi Defense Diversification Initiative
and is partnering with
Naval Meteorology and Oceanography
to host comprehensive unmanned underwater systems evaluation. All combined, the partnership is committed to comprehensive solutions that will maximize public-private partnerships for a stronger defense.
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Examination of the Contribution of Healthcare to the Regional Economy
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The Trent Lott Center was asked to determine the economic contribution of
Forrest Health Systems,
Hattiesburg Clinic, and
Southern Bone & Joint Specialists on nineteen contiguous Mississippi counties while using Forrest County and the City of Hattiesburg as its primary center. The findings showed that these healthcare providers contributed $1.4 billion to the region's economy and supported 10,670 jobs in 2016 through 1,511,766 total patient visits. Jobs include 6,338 direct jobs, 1,775 supplier jobs, and 2,557 induced jobs. The combined effect of employee earnings, expenditures, revenues, and economic activity produced by the three employers contributed more than $187.5 million in taxes in 2016. Additionally, the average annual capital investments from construction projects contributed an estimated $36.2 million to the region and these investments supported 262 jobs. The organizations combined contributed more than $1.494 million in sponsorships, employee contributions and fundraising events hosted and/or sponsored 97 community outreach events reaching an estimated 57,000 people.
The analysis was conducted using the IMPLAN economic impact analysis for planning model. The project was led by Dr. Shannon Campbell with support from Drs. Chad Miller of the USM COB and Ron Swager of Swager Consulting, LLC, TLC staff Tasha May and Heather Brown, and graduate assistants Imran Ahmed and Michael Brinza.
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