Six companies received tax abatements, or breaks, of almost $182,000 for ten years by a unanimous vote of the Hinds County Board of Supervisors. Two of the companies breaks were for five years. That's about half of what they would have paid in taxes without the breaks.
It is a commonly used tool to keep companies in certain areas and attract them in the first place. Some of the ones getting the breaks were Double G Coatings of the Byram Industrial Park, Gulf States Canners in Clinton, near the old General Motors Delphi Plant, and Saks Incorporated which still operates a warehouse on Highway 80 in Jackson.
Blake Wallace, director of the Hinds County Economic Development Authority said the tax breaks are vital for economic development.
"It is a win-win both in revenue in the county general fund as well as the companies remaining competitive and keeping jobs here," said Wallace. He added this is the most important way to keep companies in Hinds County.
It is common all over the country for state, city and county governments to give tax breaks to attract industry and business in the first place and keep them there.
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