Calculation of mFLEX Credits

Calculation of mFLEX Credits. MDA will calculate the initial credit amount based on the following formula: • Reported Capitalized Manufacturing Equipment Expenditures multiplied by 1.5% + • Reported Capitalized Non-Manufacturing Equipment, Furniture, and Fixtures multiplied by 7% + • Total construction contract(s) multiplied by 2% + • Wages multiplied by number of jobs multiplied by 15% This calculation results in the base mFLEX credit. If the applicant creates 25 jobs and pays an average annual salary of 125% of the average state or county wage (or is a manufacturer, invests $20,000,000 and creates a minimum of 50 jobs), the credit is increased by the following premium for high paying jobs: Payroll multiplied by number of jobs multiplied by 30% In the event that the applicant elects to utilize industrial revenue bonds issued by the Mississippi Business Finance Corporation, the calculation will be limited as follows: Payroll multiplied by number of jobs multiplied by 15% This calculation results in the IRB (Industrial Revenue Bond) base mFLEX credit. If the applicant creates 25 jobs and pays an average annual salary of 125% of the average state or county wage (or is a manufacturer, invests $20,000,000 and creates a minimum of 50 jobs), the credit is increased by the following premium for high paying jobs: Payroll multiplied by number of jobs multiplied by 30%