Mississippi Region Comes Together to Market

The Mississippi Gulf Coast has become a key aerospace player, reported George Freeland, president of the Mississippi Gulf Coast Alliance for Economic Development (The Alliance).

Freeland, who is also executive director of the Jackson County Economic Development Foundation, said current developments include five federal and university aerospace-related research units, aerospace businesses that include six of the biggest names in the industry (BAE Systems, Lockheed Martin, Northrop Grumman Integrated Systems, Pratt Whitney, General Dynamics and Rolls-Royce), aerospace technology parks, aviation-related military bases, technology transfer offices, incubators and military aerospace test ranges including the vast Gulf of Mexico. More >

GO Zone projects get 2-month extension

More than $4 billion in projects approved for a hurricane recovery business loan program received two-month extensions Tuesday from the State Bond Commission, while the panel awaits direction from new Gov. Bobby Jindal.

The blanket extension gives the four dozen projects an extra 60 days to go to the bond market for borrowing in the loan program, through the Gulf Opportunity Zone Act, and leaves the Jindal administration largely in the driver's seat to determine how to proceed beyond that.

The GO Zone bond program, set up by Congress after hurricanes Katrina and Rita in 2005, gave Louisiana $7.8 billion in tax-free borrowing capacity to dole out to private business developments to help spur growth in hurricane-impacted parishes. More >

Boustany pushes for GO Zone extension in economic stimulus package

U.S. Rep. Charles W. Boustany, Jr., (R), pushed last week for Congressional leaders and the President to extend GO Zone provisions in a proposed economic stimulus.

Boustany authored an extension of the current GO Zone credits with Congressman Richard Baker. Baker announced his resignation early last week, and Boustany began working with Congressional leaders to include the provisions in a national economic stimulus package, according to a press release. More >

Go Zone deadline extended

Federal and state representatives and officials with National Alabama agreed Friday to extend the deadline to classify Colbert County as a hurricane-damaged area, which would mean cheaper financing for the new plant.

U.S. Rep. Bud Cramer, D-Alabama, Gov. Bob Riley and Greg Aiz, chairman and CEO of National Steel Car Ltd., of Canada, the parent company of National Alabama, met at the Muscle Shoals Regional Airport on Friday afternoon to discuss the process for the county to meet eligibility for federal Go Zone Opportunity Funds.

Alabama has been authorized to receive $2.1 billion for the hurricane-damaged areas of southwest and west Alabama. The federal funds, which have cheaper financing because of tax implications, is designated for companies that are opening and creating jobs in the affected areas. More >