Biloxi considers tweaking tax incentives

|
News,Business,Mississippi,Tax Credits

BILOXI, Miss. (AP) — Just how much incentive the city of Biloxi should give businesses investing along the beach, in the downtown and along Mississippi 67 was considered during a city council workshop on Tuesday.

Thirteen properties have received up to 100 percent forgiveness of ad valorem taxes for up to 7 years through the post-Katrina hospitality commercial incentive.

Jerry Creel, Biloxi's community development director, said business owners build the tax incentive into their financing package. He says the amount of the tax abatements is covered by increased sales tax.

The Sun Herald reports (http://bit.ly/1hbALl4 ) Creel suggested the council consider the number of jobs a new business will create when determining the amount of incentive, and more importantly, the sales tax that will be generated.

___

Information from: The Sun Herald, http://www.sunherald.com

View article comments Leave a comment