Biz Roundup: JSU Boosts Economy | Jackson Free Press | Jackson, MS

Biz Roundup: JSU Boosts Economy

Ward 1 Councilman Quentin Whitwell listens at a Jackson City Council meeting.

Ward 1 Councilman Quentin Whitwell listens at a Jackson City Council meeting. Photo by Jacob Fuller

JSU Contributes $413 Million to State Economy
Jackson State University contributes an estimated $413 million and 8,700 jobs to Mississippi's economy annually, according to a study released Monday by the university.

The Jackson State University Center for Business Development and Economic Research authored the study, which is based on 2010 data. The study showed that the urban university pumps millions of dollars into the local economy by purchasing goods and services, generating indirect tax revenue and boosting tourism.

For every dollar the state spent on Jackson State in 2010, the university generated $1.86 back into the state economy, according to the study.

"Jackson State University is truly a major economic engine of not only our city, but the state as a whole," JSU President Carolyn Meyers said in a press release. "We know that our success fuels the success of Mississippi. As our enrollment continues to grow, we expect our economic impact to be even greater."

In 2010, the university had an estimated payroll of $57 million for 1,542 full-time employees and more than 500 part-time workers. The school also spent an estimated $95 million on local goods and services. Students spent another $85.9 million in local economy, generating $1.4 million in Jackson-metro sales taxes.

City Awards $67,000-plus in Small Business Loans
The Jackson City Council approved more than $67,000 in small-business grants to seven area business at its regular meeting March 20.

Six of the grants came from the Small Business Development Grant Program and one from the Storefront Improvement Grant Program.

Since 2009, Jackson has awarded $684,681.20 to local businesses through the grant programs.

"This small business grant program is one-of-a-kind for the state of Mississippi. It's doing a lot of great things for a lot of small businesses. We were able to get all the details of each individual business and we're really excited about the things that it will do for them," Ward 1 Councilman Quentin Whitwell said.

The city awarded $10,000 grants to Northside Drive Texaco, J & S Food Mart and The Produce Market in the amount $10,000, and $9,167 to Harrison Manufacturing and Hapax Creative in the amount of $9,167. The city also awarded a $9,660 grant to Red Laser Technology Inc., a $4,750 grant to Young World Learning Center and a $4,500 storefront improvement grant to J & S Food Mart.

Jackson to Apply for $500,000 Grant
Mayor Harvey Johnson Jr. will submit an application for $500,000 in Affordable Housing Program grant funds to be used in the city's Emergency Housing Repair Grant Program.

The city's goal for the Emergency Housing Repair Grant Program is to assist low-to-moderate income homeowners with emergency home repairs. Approved homeowners can receive up to $10,000 for plumbing, roofing and electrical repairs.

The program is funded by the federal Community Development Block Grant Program.

The mayor will submit the application for the Affordable Housing Program to Bank Plus for final approval from the Federal Home Loan Bank of Dallas.

Support our reporting -- Follow the MFP.