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

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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