Jackson Free Press

Colliers Secures Loan for Outlets of Mississippi

Colliers International Atlanta secured a $55-million construction loan for the Outlets of Mississippi. The 300,000-square-foot outlet shopping center is located five miles east of downtown Jackson and is scheduled to open Nov. 14, just in time for holiday shopping. The Outlets will feature 80 designer and name-brand outlet stores.

Colliers secured the loan on behalf of Bloomfield Investments LLC, the operating company subsidiary of developer Spectrum Capital LLC. A regional bank provided the funding. The loan represents approximately 70 percent of the development cost.

Located at 200 Braves Blvd., in Pearl, Outlets of Mississippi comprises five single-story buildings. The outlet center is at the crossroads of interstates 20 and 55 and U.S. highways 49 and 80.

Just ahead of its grand opening weekend, the Outlets of Mississippi will hold a two-day job fair event at Hinds Community College's Clyde Muse Center (515 Country Place Parkway). The event is scheduled for Saturday, Oct. 5 from 10 a.m. to 6 p.m. and Sunday, Oct. 6 from noon to 5 p.m. Interested candidates should bring multiple copies of their resumes to pass on to the brands they wish to meet.

Mississippi Receives Self-Employment Grant

The Mississippi Department of Employment Security announced Sept. 25 that the U.S. Department of Labor has awarded Mississippi a $365,271 grant.

The funding is available through the Middle Class Tax Relief and Job Creation Act of 2012. It allows Mississippi to develop a self-employment assistance program for eligible unemployed individuals who want to start a business.

Self-employment assistance programs provide eligible Mississippians the chance to use their time to create and build a business. Participants will receive their normal weekly unemployment-insurance benefits and will not be required to spend their time looking for a job; however, they must spend their time building their business while they remain able to work. Monies earned from participants' new businesses must be reported, but will not be deducted from weekly benefits.



The state expects to fund between 50 and 100 new business ventures. No more than five percent of individuals receiving unemployment insurance benefits at any one time in the state may participate in the program due to funding limits.

Participants must complete an application process. MDES staff will monitor the progress of those chosen for the program.
Specific eligibility criteria and training programs are being finalized for the program's launch in early 2014.

Feuer Powertrain Opens First U.S. Site in Mississippi

On Tuesday, Sept. 24, Gov. Phil Bryant and officials from Feuer Powertrain GmbH held an announcement and groundbreaking ceremony in Tunica at the future site of the company's first U.S. manufacturing operation. Feuer manufactures crankshafts for the automotive and transportation industry.

The project represents a $140 million corporate investment and promises to create 300 new jobs. Production at the new site will begin in late 2014.

"I am grateful to the Feuer team for choosing the Mississippi Delta as the home of its first U.S. manufacturing facility and for creating so many job opportunities for the area's residents," Bryant said in a statement. "Feuer's decision to invest in Mississippi strengthens our state's growing automotive industry, and it serves as a testament to the world that our state is a great place to do business. Global companies continue to choose Mississippi, and I am proud to welcome Feuer as our newest partner. I wish them many years of success in Tunica."
 


The Mississippi Development Authority, a state agency, provided assistance in site preparation, infrastructure and workforce training for the project through the Mississippi Industry Incentive Financing Revolving Fund. Tunica County also provided assistance. 
 


Feuer Powertrain was founded in 2003 and headquartered in Nordhausen, Germany. Feuer has invested more than $250 million in five plants in Nordhausen that employ more than 400 workers. For information on Feuer visit the company's website.