Hosemann outlines ideas for business laws

TUPELO – New business laws may be a key ingredient in spurring development in Mississippi, Secretary of State Delbert Hosemann said Tuesday.
Hosemann, speaking at the Cellular South Networking at Noon event in Tupelo, said he’d like to see more national companies establish their headquarters in Mississippi.
He cited Delaware’s reputation as the go-to state for business headquarters.
“This year, we’re going to redo all our corporate law” with special emphasis on reworking it to attract company headquarters to the state, he said. Hosemann said he thinks Tupelo or DeSoto County would be a good fit for a national headquarters.
“You have positioned yourself well,” he said.
He also said he is working on an intellectual property law that will infuse money into the state’s community colleges and universities while helping businesses create jobs.
The basic idea, he said, is that businesses would have a contract with the school that would enable the company to use the school’s intellectual property, such as a patent. The state would give the business a 7 percent tax break on the contract, Hosemann said.
“We need to get more money to junior colleges that doesn’t come from taxpayers,” Hosemann said.
The state also needs more foreign investors, he said. He cited Toyota’s investment in its Blue Springs facility and the foreign dollars in the Golden Triangle, with companies from Israel, Spain, France and Russia.
Foreign companies are “pouring into our state,” Hosemann said, because of Mississippi’s training programs, work force, water supply and school systems.
Hosemann recently completed trips to Israel and Turkey to talk with manufacturers about locating in the Magnolia State.
“In those meetings, I told them, ‘If you can dream it, we can build it,’” he said. “They are sold on Mississippi.”
Hosemann sees the state’s economic situation gradually getting rosier.
“We have reached bottom, I think, in Mississippi a couple months ago and we’re on the upswing,” he said. “There’s no reason for Mississippi and this area in particular not to prosper.”
Contact Carlie Kollath at (662) 678-1598 or carlie.kollath@djournal.com.

Carlie Kollath/NEMS Daily Journal