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SPECIAL FUNDING
The Hancock County Port and Harbor Commission is willing to help negotiate for financial assistance from Federal agencies, such as Economic Development Administration (EDA) or Environmental Protection Agency (EPA), for special facilities such as industrial waste treatment. Because the industrial park is owned by a county government, such facilities could be financed at municipal bond rates.
The Hancock Development Corporation has been organized by the county to	help	industry
obtain Small Business Administration (SBA) and EDA loans.
Mississippi’s BAWI bond program is also available to help finance industry	in	the	State.
Special tax considerations include a possible ten-year local tax exemption.
ADVANTAGES
The obvious advantage of locating on water is transportation cost savings. Average barge costs per ton-mile are about one-fifth of rail costs and about one-twentieth of truck costs. Waterfront sites also make new manufacturing and material handling methods possible. For example, large module-type houses are shipped directly from a factory in Mobile to a Hancock County real estate development on barges. LASH barges are used to ship products from U.S. manufacturers to customers on European rivers without intermediate handling.
OWNERSHIP, FINANCING
The Hancock County Port and Harbor Commission operates the industrial park along with the Stennis International Airport and Industrial Air Park, the Port Bienville Shortline Railroad, Bayou Cadet dock facilities, and county-wide boat launching facilities. Original funding for the park when the commission was first organized in 1962 came entirely from Hancock County. After several planning studies, dredging and clearing work began in 1967. Hurricane Camille hit in 1969 and the county qualified for U.S. Economic Development Administration assistance. The $4.6 million EDA project to complete the park for occupancy is financed by an EDA grant and various matching funds.
Construction funds and operation funds come from two completely separate sources. Construction funds provided by Hancock County come from the sale of general obligation bonds. The bonds are retired by the County through revenue derived from a special gasoline and seawall tax. Operation funds come from a four mill county tax levy and a two mill matching sum from the State. Further income is derived from facility rentals.