Mississippi Regional Center
Encore Mississippi Regional Center, LLC offers investment opportunities in fourteen counties throughout the state, including the gulf coast region (4 counties), the Hattiesburg region (5 counties), and the Jackson region (5 counties). These three areas of the state share a common regional economy, interstate system, and connection to the gulf coast area.
The Mississippi Gulf Coast, overlooking the sparkling Gulf of Mexico and 62 miles of scenic shoreline, includes the world’s longest (26 miles) man-made beach. Mississippi has 20 world-class golf courses, many of them created by the top course designers in the world (i.e. – Jack Nicklaus, Arnold Palmer, Davis Love III, Mark McCumber, Jerry Pate and Tom Fazio. Many visitors are also attracted to a wide variety of artistic and historical museums.
Mississippi is one of only three states in the U.S. to see its economy recover at 100 percent of its pre-recession levels. According to State Economist Darrin Webb, the real recovery for Mississippi has been over the past two years. The economy continues to improve because of the state’s aggressive growth strategy to recruit new global business investments, including Encore Global Investment Management, LLC.
Encore Mississippi Regional Center projects are intended to create positive economic change throughout the state of Mississippi, particularly through investment in designated Targeted Employment Areas (TEAs), defined by USCIS as areas with unemployment of at least 150% of the national average.
As specified by the requirements of the EB-5 program section 203 b, investments made within TEAs will be $500,000, while those made outside TEAs will be $1 million. With emphasis on TEAs, the Encore Mississippi Regional Center will empower investors with the lower threshold of investment and will enrich those areas with a greater positive impact.
The Encore Mississippi Regional Center is uniquely positioned to offer a wide array of commercial real estate investments to EB-5 Immigrant Investors. As commercial real estate professionals with successful track records in the state of Mississippi, the principals of the Encore Mississippi Regional Center are ideally suited to identify, underwrite, and market well-positioned commercial real estate projects.
Our team, which includes a professional network of governmental agencies, developers, real estate brokers, and attorneys, is committed to linking foreign investors with reputable project stakeholders and facilitating immigration to the United States through the EB-5 Immigrant Investor Program.
Mississippi is bordered on the north by Tennessee, on the east by Alabama, on the south by Louisiana and a narrow coast on the Gulf of Mexico and on the west, across the Mississippi River, by Louisiana and Arkansas.
The state of Mississippi is entirely composed of lowlands, the highest point being Woodall Mountain, in the foothills of the Cumberland Mountains, 806 feet (246 m) above sea level. The lowest point is sea level at the Gulf coast. The mean elevation in the state is 300 feet (91 m) above sea level
Mississippi has a humid subtropical climate with long summers and short, mild winters. Temperatures average about 95°F (about 35°C) in July and about 48 °F (about 9 °C) in January. The temperature varies little statewide in the summer; however, in winter, the region near Mississippi Sound is significantly warmer than the inland portion of the state. The average temperature is about 71 degrees throughout the year.
The late summer and fall is the seasonal period of risk for hurricanes moving inland from the Gulf of Mexico, especially in the southern part of the state. Hurricane Camille in 1969 and Hurricane Katrina in 2005, which killed 238 people in the state, are the most devastating hurricanes to hit the state.
Area: 48430 square miles
Elevation: lowest point is sea level at Gulf coast to the highest point at Woodall Mountain at 806 ft.
Average Temperatures: January, 48° F; July, 95° F; annual average, 71.5° F
Average Annual Precipitation: 55 inches.
The population of the state of Mississippi is about 2.92 million as per the 2012 U.S. Census estimate. It is said to have the highest rate of increase of mixed-race population. The total population has not increased significantly since the year 2000 but is pre-dominantly young. The city of Gulfport and its suburbs are rapidly getting urbanized.
Mississippi’s total state product in 2010 was $98 billion. Per capita personal income is the lowest per capita personal income of any state, but the state also has the nation’s lowest living costs. It is the poorest state in USA. The majority of the people are engaged in cotton agriculture. Manufacturing is the next biggest employer with 135,900 workers followed by services sector which employs more than 100,000 people.
Housing starts and building permits are up sharply, based on the most recent data available. The growth rate of the economy, however, is slow but showing signs of recovery. Over $1.6 billion in new investments were announced in 2012, which are increasing economic activity. Of these, the largest job creator may be Nissan’s $20 million expansion, which will bring 1,000 additional jobs. Kior (biomass) is building a $350 million facility, generating 350 jobs, and the Hard Rock Hotel and Casino is investing in a $32.5 million expansion. A major port upgrade at Gulfport and a $1 billion natural gas pipeline (Spectra Energy and CenterPoint Energy) are underway.
On-going projects also include Huntington Ingalls’ $2.4 billion contract with the Navy and Chevron’s $1.4 billion expansion of its Pascagoula facilities. HCL Cleantech (biomass) is building its headquarters and four plants in the state, for a projected investment of $1 billion. Stion (thin film solar panels) is investing $500 million in new plant and facilities. The recently-built Toyota auto plant is in production, the Margaritaville casino is open, and expansions at Schultz Extruded (metallurgical pipes) and Severstal (steel) have been completed. Recently, On October 17, 2005, Governor Haley Barbour signed a bill into law that allows casinos in Hancock and Harrison counties to rebuild on land (but within 800 feet (240 m) of the water). The only exception is in Harrison County, where the new law states that casinos can be built to the southern boundary of U.S. Route 90. This will incur more as it will become a popular tourist attraction.
Recovery in the housing market, both in Mississippi and nationally, appears to have begun. Housing starts in the state have been trending upward. In Q2 of 2012, starts were 18% higher than a year ago. The value of residential building permits issued was up sharply, and the median home price increased. The upsurge in permits issued and in housing starts bodes well for the sector in 2014. Inflation is projected to be below 2% for the next 5 years and the average personal is set to increase at 4.1% over that time span.
There are 8 four-year institutions in the State of Mississippi. These include Alcorn State University, Delta State University, Jackson State University, Mississippi State University, Mississippi University for Women, Mississippi Valley State University, the University of Mississippi (“Ole Miss”), and the University of Southern Mississippi. There are 5 private universities throughout the state, including Mississippi College, Rust College, Tougaloo College, Mississippi College School of Law, and Magnolia Bible College. There are numerous two-year colleges and vocational schools throughout the state.
Travel and Tourism
Known for its warm, southern hospitality, Mississippi is a tourist destination for families, millennials, and history buffs alike. Individuals interested in touring Mississippi’s historical sites can visit the famed Vicksburg National Military Park, Natchez Trace Parkway, and Tupelo National Battlefield. Families have the opportunity of visiting the Marine Life Oceanairium, the Museum of Natural Science, Jackson Zoological Park, and Gulf Islands Waterpark.