Treasurer McRae meets with local business leaders

When State Treasurer David McRae was in DeSoto County recently for the Reagan Day dinner at the Landers Center, he spoke about the recent nomination of former State Senator Merle Flowers to the Mississippi Business Finance Corporation (MBFC) and the Mississippi Development Bank.

McRae recommended Flowers to boards of directors, a recommendation that was confirmed by the state Senate in the 2022 session. Flowers will serve a five-year term.

“Merle Flowers has expertise in the business world and can help us better on the board of the Development Bank and the finance board to help move these projects forward for local communities than the board does,” McRae said. “Merle knows the people who can help with that advice, and having that expertise with the Legislative Assembly and personal business expertise is something that I can really relate to coming from the private sector and again coming from government.”

Flowers now owns several real estate holding companies in DeSoto County.

“I think he’s going to be a huge asset to the job and really bring a new mindset and good outside-the-box thinking to this council that will help local communities with desperately needed projects,” said said McRae.

The MBFC serves as a statewide bridge transmitter and acts on behalf of the borrower to access incentives, capital markets, and low-cost capital. Since its inception in 1985, MBFC has facilitated 806 projects representing more than $23 billion in investments, resulting in the creation and maintenance of more than 235,000 jobs.

The Mississippi Development Bank is a statewide revenue bond issuer with proceeds donated to local government entities for infrastructure and economic development projects.

“I am honored to be appointed to these two very important state boards,” Flowers said. “Bond programs allow local government entities to access capital for roads, buildings, utilities, economic development projects and a host of other quality programs. I’m thrilled to be part of a great team to help improve the lives of Mississippians.

The state treasurer actively promoted a college savings program in Mississippi called MPACT. McRae said the key feature of the savings plan is that parents can start saving early for their child’s college at today’s rates, not at the rate the child actually heads to college. university.

“If it costs a dollar today, it will cost a dollar when your child is ready for college,” McRae said. “So the best time, of course, is to enroll as soon as the child is born in order to lock in the cheapest rate because in 18 years I can almost guarantee you that the tuition will go up.”

The open registration deadline for the MPACT program is May 31

McRae added that state revenue is robust and heading toward $1 billion for the year.

“Our earnings are well above estimates,” McRae said. “Our revenues are fantastic in the state and I really commend the Legislature, the Governor and everyone who did the things that needed to be done.”

Pictured: The State Treasurer addresses the DeSoto EDC Government Relations Committee as County Supervisor Mark Gardner and Congressman Trent Kelly look on. (Bob Bakken/DeSoto County News)