Lamar County could see a financial leap forward by using state funds from an economic site development program, bringing in $500,000 to entice large-scale businesses, an economic development official told the board of supervisors on Monday.
Todd Jackson, the Area Development Partnership’s executive vice president for economic development, said program funds are already being used to improve the Hattiesburg-Laurel Regional Airport. He said the airport project is a model for Lamar County.
“The Mississippi Development Authority through the Mississippi Legislature has a site development program that allows us to take money from MDA and invest it in our real estate for the purpose of economic development projects,” he stated. “We are currently leveraging $250,000 at the Hattiesburg-Laurel Regional Airport. There is a lot of work going into there. We are putting in a half million dollars into the site; $250,000 of that came from MDA.”
The same could be done in Lamar County, Jackson said.
“It’s a site (in Lamar County) that we worked a project on at the end of last year,” he said. “It can be successful, but I believe we’ve got to do some things to improve it. I think we can leverage funds from the state to do that.”
Jackson said he would like to put some cost estimates together and figure out the best use for the property and how money would be invested there. It will require a match, so some funding would be necessary.
In the Hattiesburg-Laurel Regional Airport project, the MDA contributed $250,000, $100,000 came from Cooperative Energy, and $75,000 each from Jones and Forrest counties.
“They had a good partnership opportunity there,” Jackson said. “I think we can do the same thing on a site here in Lamar County.”
Jackson said the site being considered for improvement is in the South Lamar Industrial Park. “I think it’s a good model; I think we can do that here.”
Having a viable workforce makes site improvement an extra benefit, Jackson said.
“Over time, it’s proven we’re going to get some serious looks in this area because of the big labor draw,” he said. “I think the more resources we invest in our real estate, the better our chances for economic development.”