Business Journal 20170601

BUSINESS JOURNAL BIZBUZZ.DJOURNAL.COM

FEATURE: Q&A with Innovate Mississippi President and CEO Tony Jeff

page 2 COLUMN: Tools of technology here sooner than later

page 9 INSIDE: Calendar of events

page 10 CONNECT WITH US Facebook “f” Logo

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JUNE 2017

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THE NORTHEAST MISSISSIPPI

JUNE 2017

Q&A: Tony Jeff, President of Innovate Mississippi

I

TONY JEFF

nnovate Mississippi is a nonprofit organization with the mission to drive innovation and technology-based economic development for the state of Mississippi.

It got its start with the found-

ing of Mississippi Technology Inc., in 1998, followed a year later by the first board meeting of the Mississippi Technology Alliance. It was renamed Innovate Mississippi in 2012.

Tony Jeff was named president and CEO for Innovate Mississippi in 2010, eight years after he joined the group.

He previously was Innovate Mississippi’s vice-president and COO and the director of the Center for Entrepreneurship & Innovation, where he coordinated Innovate Mississippi’s work with entrepreneurs to bring their innovations successfully to market. In that position, he coached more than 800 entrepreneurial ventures and consulted with companies that successfully raised more

than $130 million in private equity financing. He also previously held the positions of director of the Mississippi Alternative Energy Enterprise and director of the Manufacturing Extension Partnership of Mississippi.

Q. WHAT IS INNOVATE MISSISSIPPI DOING THESE DAYS? A. Now that the TV show “Shark Tank” is so popular, it’s easier now to tell people to think of us as the “Shark Tank” of Mississippi, although most of our work is done before the pitches to investors. But most of the pitches our investors see do look like what you see on “Shark Tank.”

Q. HOW MANY PITCHES DO YOU HEAR? A. We hear about 120 pitches

a year come in with at least an idea, although some are literally just ideas. But of that group, a small percentage are pitched to investors. Most of them we can help connect them to mentors and to other resources to help them move forward.

Q. HOW HAS INNOVATE MISSISSIPPI EVOLVED OVER THE YEARS? A. Almost 20 years ago, near the end of the Gov. Kirk Fordice administration, a group called the Science and Technology Commission looked into how Mississippi could compete in “high-tech,” which was the language of the day. The idea for Innovate Mississippi came from that, and although we didn’t get staffed until 2001, the idea was there of having a group focused on connecting

the dots and helping Mississippi entrepreneurs move forward. It wasn’t about putting state money into it, but it was using resources to connect Mississippi investors with Mississippi entrepreneurs.

It’s pretty much continued.

But now, one big thing we’re doing differently is with our angel investors network and converting it. We’re keeping the network, but we’re also doing angel funds. We were recently in Tupelo, Oxford and Columbus and we’re doing regional funds. We want the investors to know each other in those funds. They’ll be member-managed funds – they’re not our funds, but its those TURN TO Q&A, 10F

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BUSINESS JOURNAL

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Retail&Tech: Stores face online challenges

3

BY DENNIS SEID

T

DAILY JOURNAL

he future of retailing is at a critical crossroad.

While spending is up, most of that growth is online. So far this year, major retailers have announced at least 3,100 store closings.

Amazon has been chiefly blamed for the spike in online shopping, with the company delivering merchandise practically anywhere, all done with a click, tap or swipe.

Experts speak of “disruptions,” in various industries, and there is no bigger disruption in retail than Amazon. As more consumers migrate to Amazon, that means less foot traffic in stores.

“The disruption is just unfolding,” said Mark Cohen, a former CEO of Sears Canada who now directs retail studies at Columbia Business School. “I think the number of store closings will continue at an accelerated pace right through this year into next year.”

Mike Breazeale, an assistant professor of marketing at Mississippi State University, said many retailers have failed to embrace the changing habits and tastes of consumers.

“All the closings are because retailers are either not understanding the online marketing end of their marketing mix or their unwillingness to alter what they do in their stores,” he said. “To me, you have to have a good omni-channel mix to work on your online experience as much as you in-store experience.

So much about keeping that in-store experience alive is about keeping the experience where you can’t get anywhere else.

“People will continue to shop in stores as long as there’s value in it.

Some of the boutique stores and smaller retailers aren’t hurting as much as the large chain stores because they’ve gone away from the real customer service that made people come in the first place.”

In an interview with NPR, Cohen and other retail experts said there is too much real estate devoted to retail, and thanks to online shopping, there’s more shaking out to do.

Brokerage firm Credit Suisse said in a recent research report that it’s possible more than 8,600 brick-and-mortar

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Krista Blanchard and Jessica Black, employees at Reed’s department store in Downtown Tupelo, pack a “Me Box” to be sent to a customer. The program is one of the initiatives for Reed’s, which like many retaiers, makes sure it provides an online shopping platform to complement the traditional in-store shopping experience. stores will close their doors in 2017.

That compares to 2,056 stores that were shuttered in 2016 and 5,077 in 2015. The worst year on record is 2008, when 6,163 stores shut down in the midst of the Great Recession.

Only about a third of the 1,200 malls in the country are performing well, while the rest are seeking their place in the retail landscape, “Retailing is undergoing a revolutionary change,” said Walter Loeb, a contributor to Forbes. “Merchants are no longer the driving force for retailers. This is a major change that will be hard to swallow. In the past merchants interacted with customers. They talked to them as a market. Now these same customers are demanding products and services that match their specific needs.

In other words, the customer is now in TURN TO RETAIL, 4F

|

STORE OF THE FUTURE

|

THE PLATT RETAIL INSTITUTE, in its report “The Store of the Future,” is a look at possible future retail formats and customer interface technology. In addition to traditional retail stores, possible future store formats may include: • Drive-through pick-up locations, as some shoppers will move away from large stock-up shopping trips to more targeted, time-efficient, needs-based trips.

• Product showrooms that enable the customer to interact with/try out products, as well as interact with sales associates and other customers (both physically and remotely).

• Immersive experiential centers, as technology will enable shoppers to control their shopping experience. These stores will be venues for collaboration and experiences that cannot be provided online.

• Brand stores that focus more on promoting the brand than on selling merchandise, communicating the brand’s values, social and community involvement, and conveying customer stories, as well as providing product/service information and ordering.

• Community service stores in which retailers will provide services that local communities can no longer afford to offer, and locate stores within or near community facilities such as libraries or recreation centers.

• Specialty stores that will continue to fill certain niches, as well as evolve.

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BUSINESS JOURNAL

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Retail

of his company. Now this merchant must also be a technocrat. He must accept omnichannel FROM 3F retailing as a new force, charge.” even though the cost factor may squeeze the REED’S TO ME profit margins. He is Reed’s department a strong creative force store, the largest indewhen consumers browse pendently owned store in and shop in his stores.

Mississippi, hasn’t been Through well developed immune to the rise of technology he may bring online shopping. While more customers back to the 112-year-old compa- spend more time selectny maintains traditional ing fashion merchandise, brick-and-mortar locahowever the merchant tions in its hometown of now must seek help from Tupelo, Starkville and Co- technology. lumbus, it has accepted A program recently that online shopping in started at Reed’s is “From an integral part of doing Reed’s to Me,” a personbusiness. alized shopping experi“If you don’t, you do it ence that allows customat your own peril,” said ers to go online and have company president Jack merchandise shipped Reed Jr. directly to them.

Said Loeb, “In my Shoppers go to Reed’s opinion, accepting the website at www.reedsms. influence of technology com and click on the is critical for the re“From Reed’s to Me” link. tail industry to remain “They fill out the form vibrant. Technology will with their style, fit and make shopping easier. price preference, and Advancements will inthen they can choose clude robotics, personal to have a delivery made recognition, digital wallet monthly, bi-monthly (Apple Pay), artificial inor every three months,” telligence, consumer ana- Reed said. “They keep lytics and other tech-driv- what they like and send en initiatives designed to back what they don’t.” make shopping exciting Amanda Jackson, a forboth in stores and on the mer Tupelo native who Internet. now lives in Atlanta, is a “I have always believed fan of the program. that a strong merchant “I began following can shape the image of Reeds on Facebook and his stores and the future was interested if they

BUSINESS JOURNAL offered online ordering,” she said. “Instead, I saw where I could have a stylist put together items and ship direct to me to try I rarely have time to shop – and am not a huge fan of shopping in general – so this was the perfect solution. I have only been using RTM for a little over a month but have kept items out of every box.”

The Reed’s to me Program is a good example of the consumer-friendly experiences Breazeale said are necessary for retailers to stay competitive.

“It’s kind of the cost of admission these days,” he said. “You’ve got to have that presence online even if you are or intend to be a brick-and-mortar retailer. The ones who are successful are doing well.”

He cites one Starkvillebased business, Deep South Pout, whose online presence is strong, complementing its stores in Starkville and Columbus.

“They are masters of social media, and have some students managing their website,” he said.

“They give a reason for people to shop online and in their stores. That’s the key – give value in whatever channel you’re working in.”

For Jackson, the Reed’s to Me programs takes the

JUNE 2017

hassle out of shopping.

“Simply tell them what you would like in your box and they put together items that match your needs/requests – or if you don’t have anything specific in mind, it’s like a box of surprises,” she said. “The staff is extremely friendly and accommodating ... they even helped prep my wardrobe for a beach trip I was taking. Every box is fun and exciting – and they will send you a new box as often as you want.”

Amazon has been successful because it learns what shoppers like and helps lead them into their next purchase, Breazeale said.

“After they’ve learned your preferences and purchases over time, they can make those recommendations,” he said. “That’s valuable because people have always liked walking into a store and people know their sizes, what they might like ... that’s what Amazon does with their electronic recommendations. That’s what’s made Amazon successful, too.

They’ve said the want to be Earth’s most customer-centric retailer, and I think they deliver on that.” dennis.seid@journalinc.com Twitter: @dennisseid

Great Recession redux for retailers?

U.S. store closings Store closings in 2017 have already exceeded the total from last year. Some analysts expect this year to surpass the historic peak in 2008.

10 thousand 8

As of April 6

6 4 2 0

’07

’08

’09

’10

’11

’12

’13

’14

’15

’16

’17

U.S. retail store bankruptcies Nineteen U.S. retail companies filed for bankruptcy as of May 4, passing the 2016 total – a pace which could exceed the 42 bankrupcies of 2010.

100 75 50

19 as of May 4

25 0

’10

’11

’12

’13

’14

’15

’16

’17

Past and projected online sales as a percent of total sales, by retail category Media/sporting/hobby goods

70% 60 50 40 30 20 10 0

’00

Clothing/accessories

Electronics/appliances

Health/personal care

Furniture/home furnishings

Food/beverage

’05

’10

’15

’20

SOURCES: Boomerang Commerce, U.S. Census and Business Insider, Credit Suisse, S&P Global Market Intelligence

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Meeting the needs of modern manufacturing

DAVID RUMBARGER

M

anufacturing as we know it is changing.

The industry is in the midst of a resurgence.

While the number of manufacturing jobs in the U.S. is up from a low point of 11.5 million in 2009 that number is still far below the 17.6 million jobs in 1997. Productivity, however, is 54 percent higher than that of the country’s manufacturing workforce in 1997. This increase is due in part to the development of robotics, automation and advanced manufacturing. With 20 percent t of our population making a

living in manufacturing – far above the national average of 8 percent – Tupelo/Lee County is investing in proactive strategies that will answer the call of modern manufacturing.

These strategies include supporting the modernization of our existing industries; recruiting new, advanced manufacturing companies and partnering with Itawamba Community College to elevate the skills of our current and future workforce.

CDF works a number of projects each year, recruiting new companies to move to and invest in Tupelo/Lee County.

The truth is, however, that the majority of job creation and capital investment in our community comes from our existing industries who have chosen to stay and expand in the area.

The project support we provide to these companies ensures that their Lee County operations remain globally competitive and continue to play a vital role in our local economy.

The 2014 expansion and modernization of Cooper Tire elevated the facility’s efficiency and productivity to a level that could now compete on a global stage. The assistance of Tupe-

Manufacturing has changed dramatically and constantly since 1948, when CDF was first charged with the economic development of Tupelo/Lee County. lo/Lee County and its partners in this $140-million project not only secured 1,200 existing jobs but ensured Cooper that our community can meet and exceed their changing needs better than anywhere else in the world.

Lee County’s efforts in recruiting new, advanced manufacturing industries ushered in General Atomics in 2005, a San Diego-based company that has flourished here, expanding eight times in 12 short years.

GA’s recruitment and success here is important because advanced manufacturing companies and the jobs they bring with them are vital to increasing the overall wealth of our community – a factor playing heavily into community development (something from which we all benefit).

While it is true that advanced manufacturing does not require as many workers as the traditional manufacturing

processes of many industries, including furniture, advanced manufacturing requires higher skilled workers – and this means higher wages. For this reason, Tupelo/Lee County’s continued development of a marketable products: our industrial parks, developable land, shell buildings and infrastructure specifically target companies that create highly-skilled and highly-paid jobs.

That sounds simple enough, but with so many already working in manufacturing, how is Lee County meeting the high-skilled needs of these companies? How do we find the people?

Indeed, the most important component of infrastructure, is people, without which industry cannot succeed. One of our greatest partners in developing a workforce that can meet the demands of modern manufacturing is Itawamba Community College. ICC’s Workforce

Development Center, along with the WIN Job Center, is dedicated to elevating the skill competencies of both the current and future workforce.

From its 250,000-squarefoot facility in Belden, ICC is training 16,000 people annually. Of its programs which are leading the state in workforce development, their partnership with Toyota and its Advanced Manufacturing Technician program create opportunities for graduates to gain the skills needed for success in today’s globally-competitive environment.

Manufacturing has changed dramatically and constantly since 1948, when CDF was first charged with the economic development of Tupelo/Lee County. Part of our role as an organization is to meet the challenges and opportunities brought on by change because, the fact is, that while change is inevitable, growth is optional.

Recent advancements in manufacturing have proven that, ushering in a new era for our Tupelo/Lee County – and we are choosing growth.

David Rumbarger is president and CEO of the Community Development Foundation in Tupelo.

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BUSINESS JOURNAL

Google aims to connect online ads to real-world sales

BY MICHAEL LIEDTKE ASSOCIATED PRESS

SAN FRANCISCO – Google already monitors online shopping – and now it’s keeping an eye on physical stores to try to sell more digital advertising.

The internet company said Tuesday that a new tool will track how much money people spend in merchants’ brick-andmortar stores after clicking on their digital ads.

The analysis will be done by matching the combined ad clicks of people who are logged into Google services with their collective purchases on credit and debit cards.

Google says it won’t be able to examine the specific items purchased or how much a specific individual spent.

But even aggregated data can sometimes be converted back to data that can identify individuals, said Larry Ponemon, chairman of the Ponemon Institute privacy research firm.

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Google says it has access to roughly 70 percent of U.S. credit and debit card sales through

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partnerships with other companies that track that data. By matching ad clicks with this data, Google says it can automatically inform merchants when their digital ads translate into sales at a brick-and-mortar store.

Previously, if people clicked on an ad without buying anything online, an advertiser might conclude that the ad was a waste of money.

If the program works, it could help persuade merchants to boost their digital marketing budgets.

The data add to the digital dossiers that Google has compiled on users of its search engine and other services, including Gmail, YouTube and Android.

Sridhar Ramaswamy, Google’s senior vice president of ads and commerce, said the new tracking system was created in consultation with “incredibly smart people” to ensure it’s not invasive. He described the program as “secure and privacy safe.”

But Ponemon said that even if Google has good intentions now, companies and governments in the future might not.

The kinds of data that Google is collecting also could become an inviting target for hackers, said Miro Copic, a marketing professor at San Diego State University.

“The privacy implications of this are pretty massive, so Google needs to tread very carefully,” Copic said.

GOOGLE’S OPPORTUNITY

Google already runs the world’s biggest online ad network, one that raked

in $79 billion in revenue last year. That puts it in the best position to capture any additional marketing dollars spent on computers and mobile devices.

The Mountain View, California, company touted the store-sales measurement tool Tuesday in San Francisco at an annual conference it hosts for its advertisers.

This meeting was an opportunity not only for Google to flaunt its new tools, but to work on regaining ground with advertisers who have recently boycotted YouTube . Major advertisers began pulling back two months ago over concerns that Google hadn’t prevented major brand advertising from appearing alongside extremist video clips promoting hate and violence.

‘The privacy implications of this are pretty massive, so Google needs to tread very carefully.’

Miro Copic

Marketing Professor

DIGITAL DOSSIERS

Google already knows what you like based on the searches you make and the videos you watch. Online ads are then targeted to those interests. From there, Google can tell when you click on an ad and if you make an online purchase

JUNE 2017

based on that.

The new program takes that tracking into physical stores.

Google says its computers rely primarily on login information, such as email addresses, to identify the people clicking on ads. It then matches that data with other identifying information compiled by merchants and the issuers of credit and debit cards to figure out when digital ads contribute to an offline purchase.

It’s all done in a “double-blind” way, Ramaswamy said, meaning the personal information that Google has can’t be seen by merchants or its credit and debit card partners. By the same token, Google is blocked from seeing personal information held by its partners.

When it first described the tracking program to The Associated Press, Google provided an example of how it would be able to identify a specific purchase made in a physical store by a consumer who had clicked on a digital ad run by the merchant. On Tuesday, though, Google executives stressed that it won’t be able to peer that deeply into what people are buying.

Google’s tool won’t work for cash payments or the 30 percent of U.S. card transactions that Google can’t currently access. And this works only for individuals who log in.

Google gives its users the option to limit the company’s tracking and control what types of ads they are shown – although in practice, relatively few users tweak such settings.

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JUNE 2017

Thompson Machinery continues investment in region

Available for rent by the day, week or month, customers also fter recently expandhave a rent-to-own option to ing its new rental build equity, if machine owneroperations in Tupelo, ship is desired. Thompson can Thompson Machinery deliver equipment anywhere in has launched The Cat Rental Mississippi, or customers are Store at its Columbus faciliwelcome to pick it up ty, near the Golden Triangle John Thompson, vice presAirport. ident of sales at Thompson “The growth of our rental Machinery, said, “Investing in operations gives us the opporMississippi is one of our most tunity to serve new customers important long-term strategic with various equipment needs, decisions. We have over 600 “ said Area Sales Manager Tom employees throughout MisSimmonds. “Once buildings go sissippi and Tennessee and vertical, we have a lot more to a good portion of them are offer.” in the Columbus and Tupelo “Not all equipment needs area. Expanding our rental warrant machine ownership. operations will allow us to hire Changing project demands, capital constraints, and the cost more people, service more customers, and continue to of servicing equipment can invest in the local communimake renting a great option. ties.”

Offering the industry’s best John Thompson said market equipment and service capatrends continue to shift toward bilities is what sets us apart,” renting equipment, “and it Simmonds added. is important to continually The Cat Rental Store at change our business model to Thompson Machinery is meet our customers’ needs.” expanding its brand offering Rental Store General Managbeyond Caterpillar, including er Mike Rattan, who oversees such brands as JLG, Sullair, all rental operations at ThompMultiquip and Skyjack. son, said, “We are looking at “We are excited to invest in expansion options for rental North Mississippi and grow at all existing branch stores, as with our surrounding comwell as building new locations. munities,” said Simmonds. “If Our plan is to be a part of all you’re starting a new company infrastructure growth throughand looking for a local business out Mississippi.” partner, we are your one-stopDuring the past few years, shop for equipment needs.”

Thompson has invested $13

A

BUSINESS JOURNAL

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Thompson’s Tupelo branch store design, a $7.4 million-dollar investment, was inspired by local customer feedback. million in Mississippi for facility upgrades: new locations in Tupelo ($7.4 million) and Boyle ($2.8 million), and a store expansion in Columbus ($2.8

million). The total investment encompasses tens of millions of dollars in rental fleet acquisition.

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I

BUSINESS JOURNAL

Tools of technology here sooner than later

TY ROBINSON

n January 2016, I attended a conference hosted by the Agency Management Institute to learn about advancements in technology in the realm of advertising and public relations. I also was given a brief overview of what we’d be seeing “sooner rather than later.” While I am usually skeptical about that phrase, it turned out to be prophetic.

I’d heard of virtual reality, also known as VR. I’d actually started hearing about it when I was in college. Science fiction became science fact, though probably not in the way that was envisioned while the authors wrote

the fiction on their word processors. I was not as familiar with augmented reality (AR) which is where the virtual reality world and the real world meet.

The example I was shown was from a real estate agency in New York. By using the agency’s app, the smartphone owner could look at the New York streetscape and be notified by graphics on the phone where properties were located. No, this wasn’t a map. This was like taking a video on the smartphone while graphics popped up with information and addresses of the properties.

So the virtual world of the properties on the screen and the actual picture on the screen merged into an augmented reality. So I had some ideas how real estate agencies and retail stores could use this technology as an interactive catalog, and I had good examples of how to explain it.

The shock for me was that I’d been in a conversation about this technology called augmented reality only months before, and through a game it had worldwide status almost instantaneously.

While it still may not be a household term, Pokémon Go is.

WAGES

Most advances in technology are gradual. Like watching a child grow, the changes are difficult to spot because they happen slowly. When a grandmother says, “My how you’ve grown,” it is because she recognizes the changes since she doesn’t see her grandchild every day.

It was only a few short months after returning that Pokémon Go became extremely popular.

It wasn’t unusual to see people playing the game at night in Fairpark in front of city hall.

Museums in Washington, D.C., were posting signs requesting players to be respectful as they traipsed through. There were interesting reports of bizarre trespassing incidences.

The Internet of Things, or IoT, was discussed at this conference too. If you’re controlling devices in your home by a computer, tablet or smartphone, then you’re using the Internet of Things.

These devices have sensors in them that allow you to monitor them, and some allow you to control them remotely through a wireless connection.

Your Fitbit that tells you how many steps you’ve taken, what

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your heart rate is and tells you how well you’re sleeping; the air-conditioning unit that you can control by phone; and when you voice-command the gadget in your house to turn the sprinklers on to ward off your daughter’s serenading suitor, that’s the Internet of Things. Like the internet you’re familiar with, it is growing too.

Have you thought to yourself “These things are great for large cities, but we won’t see them in North Mississippi for a while”?

They’re here.

Most advances in technology are gradual. Like watching

95

%

a child grow, the changes are difficult to spot because they happen slowly. When a grandmother says, “My how you’ve grown,” it is because she recognizes the changes since she doesn’t see her grandchild every day. If that doesn’t strike home, do this. Think about doing all of the things that you do on your smartphone now with the one you had two phones ago. Gotcha! Technology is steadily coming into our lives.

Ty Robinson is president and COO of Robinson and Associates, a Tupelo-based marketing, advertising and public relations agency.

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JUNE 2017

Q&A FROM 2F

investors’ money they’ll manage themselves.

We’re pretty excited about it. What it allows someone to do if you’re an investor is you don’t have to be an expert in eight different areas.

You can rely on you’re fund members’ expertise in their industries.

And also, investors can diversify. Instead of one investment, which is like buying one lottery ticket, they can invest in eight or 10 deals.

Q. SO IT’S A POOL OF FUNDS INVESTORS CAN PULL FROM AND THEY SELECT ANY NUMBER OF IDEAS IN WHICH TO INVEST? A. Exactly right. They’ll

put their money in, and they’ll vote as a group on what to invest in, starting with local deals. But anyone can bring a deal to them. A management service company will help them with the documents and the closing of the deal with the entrepreneur.

Honestly, this is where we fell apart in some regards with the angel network.

We always had investors who liked an idea, but not all of them like going through the trouble of negotiating the terms and all the other details. They want all that to be worked out and just write a check.

There were a lot of people who wanted to deal, but nobody was interested to lead. The fund will help make it happen, and hopefully the money will flow.

Q. HOW SUCCESSFUL HAS THE ANGEL INVESTING NETWORK BEEN? A. It takes three to five years before you know you have anything. We’ve worked with more than 1,200 companies, and we’ve helped 56 of those companies raise about $34 million directly. And they’ve gone on to raise a total of $172 million.

Q. WHAT SORT OF COMPANIES HAVE BEEN SUCCESSFUL GETTING HELP THROUGH INNOVATE MISSISSIPPI? A. It’s been 10 years since the Apple iPhone was introduced, and the app environment has allowed people to do more things quicker and cheaper, so it’s been dominated by app-connected devices over the years. But we have seen healthcare-related

companies, genetic testing, some business systems supported by technology, anything that has the capability to grow fast.

Investors want deals that can grow their money three times in three years, five times in five years, so we don’t work with any retail or any service companies.

Q. INVESTING ALSO INVOLVES LONG-TERM OUTLOOK AND PATIENCE AS WELL, DOES IT NOT? A. Yes. For example, our North Mississippi Angel Fund is a 10-year fund, and we have some investors who make it through a family trust because they see it as a 10-year investment or longer.

Q. HOW OFTEN DO THE INVESTORS MEET? A. It’s really up to them. Once the funds are formed, Innovate Mississippi will bring the deals to them, but I expect a lot of local deals, too.Maybe half the deals will come from us. But I know there are

JUNE 2017

some generational businesses that maybe the next generation doesn’t want it, and employees want to buy it out. There may be some of those type of deals that the members bring. But it’s up to them on when they want to meet.

About half the deals will be local, and the other half will be state deals we’ll bring. We’re generally getting two or three companies together a quarter, so our meetings are typically no more than once a quarter.

Q. IF YOU’RE A COMPANY WITH AN IDEA LOOKING FOR INVESTOR, OR YOU’RE AN INVESTOR LOOKING TO PUT MONEY IN A STARTUP, SHOULD THEY CONTACT INNOVATE MISSISSIPPI? A. Yes, if they have an idea they can come to us, and if they’re an investor, we could connect them to a local person who’s already committed to investment.

Typically, for someone |

JUNE

Experience And Integrity With Dependable Electrical Services You Can Trust!

Timmons Electric was formed in 1988 by Mike Timmons, who has over 32 years experience, and is a family-owned business providing electrical services for

• Commercial • Industrial

customers in Tupelo and Northeast Mississippi For more info call

(662) 844-4053 www.timmonselectricms.com

5: HOW TO DEVELOP A BUSINESS PLAN, Holly Springs, 1 p.m. to 2:30 p.m. Topic: Business Basics. To register call 1-800-725-7232. Location: UMSBDC, Marshall County Library, Marshall County.

8: NEW EXPECTATIONS FOR WOMEN IN MISSISSIPPI Membership Mixer, Tupelo, 5:30 p.m. Location: FarmHouse, downtown Tupelo.

Register at www.newms. ms or RSVP at chenning@ bcsarena.com or call/text (662) 871-3391 13: HOW TO DEVELOP A BUSINESS PLAN, Starkville, 1 p.m

CALENDAR

with an idea, we’ll walk through their plans and see how we can bring them resources. They’ll need to prototype their product and they’ll need the market validation done before they make the pitch to investors.

There are several companies we send folks to help develop their prototype – Hyperion Technology Group in Tupelo is a good example – who work in electronics, metals, plastics and other areas.

Q. ANYTHING ELSE YOU’D LIKE TO ADD? A. Yes. Because we want to help with the ecosystem, one of the things we launched is Code Mississippi, which is trying to building the computer coding community in the state. The website is codems.net.

There are more than 1,000 jobs in coding in Mississippi, and we’re trying to get connect those folks and expand coding academies.

|

to 3 p.m. Topic: Business Basics. To register call 1-800725-7232. Location: MSU Mississippi Small Business Development Center, MSU Business Incubator Building, Thad Cochran Research, Technology & Economic Development Park 19: HOW TO DEVELOP A BUSINESS PLAN, Holly Springs, 1 p.m. to 2:30 p.m. Topic: Business Basics. To register call 1-800-725-7232 Location: UMSBDC, Marshall County Library, Marshall County.

20: STARTING A BUSINESS – FIRST STEPS, Tupelo 1 p.m. to 2:30 p.m. Topic: Start-up

Assistance. To register by telephone, call 1-800-7257232. Location: UMSBDC Business Assistance Center-Tupelo, Renasant Center for IDEAs, Lee County 21: STARTING A BUSINESS – FIRST STEPS, Oxford, 1 p.m. to 2:30 p.m. Topic: Start-up Assistance. To register, call 1-800-725-7232. Location: UMSBDC, Lafayette County 22: STARTING A BUSINESS – FIRST STEPS, Ripley, 1 p.m. to 2:30 p.m. Topic: Start-up Assistance. To register, call 1-800-725-7232. Location: UMSBDC, Northeast Regional Library (Ripley).

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BUSINESS JOURNAL

10

ALLIANCE COLLECTION SERVICE

11

JCPENNY MAJOR APPLIANCE SECTION

JCPenney’s newest addition to its store in the Barnes Crossing Mall, a 1000square-foot appliance section, was unveiled recently with a ribbon cutting. Specializing in ranges, refrigerators, washers and dryers, the Tupelo location is one A grand reopening ribbon cutting was recently held at Alliance Collection Ser- of 100 stores nationwide to add large appliances to their inventory this year. Once vice, 207 E Franklin St., to celebrate its recent remodel. A multiple award-win- routinely sold in all stores, the reintroduction is described as “back to the future.” ning agency, Alliance serves its clients and consumers with respect and integrity Contact the JCPenney at (662) 844-9995. in the collection of receivables. The team at Alliance utilizes advanced analytics in providing the best service by its certified accountants. For more information about the services available at ACS, call (662) 841-9995.

CHICK-FIL-A

MALONEY Glass &

COMMERCIAL & RESIDENTIAL

®

• Glass • Residential & Commercial Overhead Doors • Awnings • Canopies • Hollow Metal Doors & Hardware Chick-fil-A’s grand reopening at Thompson Square, 908 Barnes Crossing Rd. in Tupelo, was celebrated recently with a ribbon cutting and a “First 100 Campout” for a year of free meals. The brand-new facility employs 140 and features two drive-through lanes and an indoor playground. Chick-fil-A strives to provide its customers with a great restaurant experience that highlights great tasting food and a comfortable environment. For more information, contact them at (662) 3773528.

Serving Tupelo & Surrounding Area for 3 Generations!

711 ROBERT E. LEE DR. • TUPELO 662-844-4540 • MALONEYGLASSANDDOOR.COM

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BUSINESS JOURNAL

JUNE 2017

BOGART’S LIQUOR & WINE

JUNE 2017

STATE FARM INSURANCE: ROB RICE

Rob Rice and State Farm Insurance recently honored their customers with a ribbon cutting celebration of Customer Appreciation Week and the agency’s 36th Anniversary. State Farm, the nation’s #1 insurer, sets a high standard for insurance and financial services and strives to meet its goal of providing the best customer experience for residents of Northeast Mississippi. Rob Rice and the State Farm Agency at 1915 Cliff Gookin Blvd. in Tupelo can be reached at (662) Bogart’s Liquor & Wine recently celebrated its grand opening with a ribbon cut- 844-8014. ting at 850 N Gloster St. in Tupelo. Named after a popular spot from years gone by, Bogart’s Liquor & Wine calls itself “a blast from Tupelo’s past” and features a large selection of wine and spirits. Bogart’s is located in the multi-level building in front of The Summit Center and adjacent to Chevron. Contact Bogart’s Liquor & Wine at (662) 350-3159.

From Dachshunds to Doublewides

TEXAS ROADHOUSE

“It was a success! We sold all of our CKC Registered Dachshund puppies.”

– Thanks, Tammy

One of Tupelo’s newest restaurants, Texas Roadhouse, recently held a grand opening at 1342 North Gloster St. in Tupelo. Known for its hand-cut steaks, tender ribs, homemade sides and freshly-baked bread, the restaurant celebrated its Tupelo inauguration with a ribbon cutting. Texas Roadhouse is open seven days a week and features casual dining in a fun atmosphere that showcases line dancers as well as great food. For more information, call (662) 840-4220.

“We sold our doublewide manufactured home in only 4 days!”

– John

Little Ads with Big Results!

Call us today 842-2622 or 1-800-270-2622

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BUSINESS JOURNAL

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13

Business Directory A PAR TMENTS

BANK

AUTOMOTIVE COMMERCIAL VEHICLES

Apartment Homes 1, 2, & 3 Bedrooms

MILITARY, LAW ENFORCEMENT, & FIREFIGHTER DISCOUNT Ask about our Military & Law Enforcement Discount

Call 662-891-5000

Call Robin Barnett today!

662-841-8743 rbarnett@trustmark.com

Whether you’re hauling or delivering...Call

DWAYNE BLACKMON CHEVROLET for your commercial vehicle needs!

3260 Hwy 145 N. • Tupelo, MS 38804

1410 SOUTH GLOSTER / TUPELO / 842-3611

BANK

BANK

B ATH R EMODELING Bath Remodeling Shower Remodeling Tub-To-Shower Conversion Bathroom Accessories Handicap Accessible

Bank Of Okolona Okolona

P.O. Box 306 • Okolona, Mississippi 38860

(662) 447-5403 Bank of Mantee

54 1st Street • Mantee, Mississippi

(662) 456-5341

NOW WITH:

Houston Banking Center

321 W. Madison St. • Houston, Mississippi

(662) 456-3347

Give Us One Day… We’ll Give You A Beautiful New Bathroom!

Calhoun Banking Center

www.fmbms.com

www.bankofokolona.com

BLINDS

2015 McCullough Blvd. • Tupelo, MS 38801

BUILDING SUPPLIES

BUILDING SUPPLIES Rex & Diannah Coggins, Owners

Ph: (662) 365-7021

(662) 365-8902 N H A R Fax: Y D W WA & L D SUPPLY, RE A INC. B

• Electrical • Glass • Valspar Paints • Welding Supplies • Portable Carports

• Full Service • Hardware • Building Supplies • Plumbing • Hydraulic Hoses

Lumbe ville e n o o r B Company Full Line of Lumber, Hardware, Plumbing and Electrical Supplies 2300 E. Chambers Dr. • Booneville • 728-0094

Booneville Hardware & Supply 403 Church St. • Booneville • 728-0032 "For all your hardware needs"

1187 North 4th St. • Baldwyn, MS 38824

CHILD CARE

JOURNAL PUBLISHING COMPANY

JOURNAL PUBLISHING COMPANY

TERESA MCDONALD

KRYSTAL BLACK

PRINT

Robbie Parker - Owner & Director 6 Weeks - 12 Years After School Program Available

2541 McCullough Blvd. • Tupelo, MS 38801

620-9062

Licensed And Insured

662-350-3175

200 S. Pontotoc Rd. • Bruce, Mississippi

(662) 983-3700

FREE IN HOME ESTIMATE

www.bathfitter.com

ONLINE

INTERACTIVE

PRINT

ONLINE

INTERACTIVE

Multimedia/Inside Sales Consultant

Multimedia/Inside Sales Consultant

teresa.mcdonald@journalinc.com

krystal.black@journalinc.com

PO Box 909 Tupelo, MS | 38802-0909 1242 South Green Street Tupelo, MS | 38804

Phone 662.678.1531 or 1.800.270.2614 ext.531 Fax 662.620.8301

PO Box 909 Tupelo, MS | 38802-0909 1242 South Green Street Tupelo, MS | 38804

Phone 662.678.1532 or 1.800.270.2614 ext.532 Fax 662.620.8301

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BUSINESS JOURNAL

MONTH 2017

Business Directory C O L L I S I O N R E PA I R

COMMERCIAL CLEANING SERVICES

MONTH 2017

C OMMERCIAL P LUMBING

RH PLUMBING, INC. 24 Hour Wrecker Service

Junior Burns - Cell 662-728-0524 David Denson - Cell 662-416-5591 100 W. Veterans Drive • Booneville, MS 38829

224 Starlyn Ave. New Albany, MS 38652

662-534-4448

Phone 662-728-4459 • Fax (662) 728-4150

C O O L I N G & H E AT I N G

Commercial Plumbing, Gas & Industrial Piping RICHARD HANLON (662) 447-3213

Thank you for choosing RH Plumbing. We appreciate your business

FURNITURE

EMPLOYMENT OPPORTUNITIES

0 % FINANCING F O R U P TO 6 0 MONTHS

589 N. Coley Rd. Tupelo, MS

APPLY ONLINE AT

WWW.MMHEATCOOL.NET

F R E E E S T I M AT E S 1255 NELLE STREET | TUPELO

www.careers.iqor.com Great Employment Opportunities

662-844-0270

www.mmheatcool.net • Scott Mattox, Owner * All financing requires an approved credit application.

903 Varsity Dr. Tupelo, MS

Mon.-Fri. 9am - 5pm

Fine Furniture, Fabrics, & Flooring INSURANCE

I N S U L AT I O N

C ONCRETE

P.O. BOX 417 Okolona, MS 38860

Hancock Insurance Agency INSURANCE AND FINANCIAL SERVICES

401 Elizabeth St. • Tupelo 662-842-7305 G IFTS

Member of the QCN Network. Saving You Money And Making You More Comfortable For Over 38 Years Residential & Commercial Insulation, Installation Blown-In Attic Insulation - Blown-in Wall Insulation - Batting www.nsul8or@att.net www.nsul8or.com

662-844-1306

3166 West Jackson, Tupelo, MS

Everything for

Fishing

Mostly New Sat. 7-11

104 St. Andrews Rd • Okolona, MS • (662)447-3711

Scott Hancock

Allen Hancock

Monthly Rates Available

662-534-2661 720 W. Bankhead St. New Albany

JOURNAL PUBLISHING COMPANY

JOURNAL PUBLISHING COMPANY

CHELSEA SPAIN

JESSICA HUNTER

PRINT

formerly Okolona Drug Co.

ATV • Life • Health Annuities • RV • Automobile Motorcycle • Home Mobile Home Medicare Supplements

ONLINE

INTERACTIVE

PRINT

ONLINE

INTERACTIVE

Multimedia/Inside Sales Consultant

Multimedia/Inside Sales Consultant

chelsea.spain@journalinc.com

jessica.hunter@journalinc.com

PO Box 909 Tupelo, MS | 38802-0909 1242 South Green Street Tupelo, MS | 38804

Phone 662.678.1533 or 1.800.270.2614 ext.533 Fax 662.620.8301

PO Box 909 Tupelo, MS | 38802-0909 1242 South Green Street Tupelo, MS | 38804

Phone 662.678.1538 or 1.800.270.2614 ext.538 Fax 662.620.8301

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BUSINESS JOURNAL

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15

Business Directory KENNELS

L OCKSMITH

PRINTING

MILLER’S SAFE & LOCK SERVICE, INC.

arber Printing, Inc.

NEW & USED SAFES

• Safes Serviced & Installed • Locks Installed • Locksets • Combinations Changed • Locks Rekeyed • Lost Keys Replaced • Master Key Systems • High Security Keys AUTO RESIDENTIAL COMMERCIAL

brddgs@gmail.com www.dalinskennel.com

PRINTING • GRAPHIC DESIGN • SIGNS BANNERS • BLACK & WHITE/COLOR COPIES

(662) 842-7720

811 A Varsity Dr. • Tupelo, MS • 662.841.1584 8am - 4:30pm • goodimpressions@barberprinting.com

1219 ⁄2 NELLE STREET • TUPELO 1

R E A L E S TAT E

R E S TA U R A N T

R E S TA U R A N T

Party Trays for all Occasions!

Thinking of Selling Your Home or Property?

We Have Six Full-Time Agents Pontotoc Ridge Realty, Ltd. Who Call MOSSY OAK PROPERTIES OFFICE Pontotoc Home. ISEACH INDEPENDENTLY OWNED AND OPERATED

• Pizza Spaghetti • Salad Bar • Sandwich • Pasta Special Every Thursday

Call Us Today 662-489-2848 R E TA I L

Alternatives to Cigarettes

Ecigs, Mechanical Mods, Vapor Smokes, Tanks/Cartomizers, Ejuice, Blu, V2, Century 21 Ecigs

709 S 4th St. • Baldwyn, MS

Mon.-Thurs. 11-10 • Fri.-Sat. 11-11 • Sun. 12-10

ROOFING

W

E EL

R

RO

INC.

TECHNOLOGY

OF

Achieve greater network performance with less.

ING

HE “A Family Business Since 1946”

It's time to get more performance from your network with far less. As in less bandwidth utilization, fewer resources, and less cost.

• Residential • Commercial • Industrial FREE Estimates LICENSED & INSURED

411 CLARK ST. ❖ TUPELO ❖ 844-4481

TREE SERVICES

365-7059

1101 W. Main • Tupelo 842-3774

T RUCKING

CIRCADENCE R&D FACILITY

CDF BUILDING • 398 EAST MAIN ST., 2ND FLOOR • TUPELO, MS 38804 662-821-2500 • www.circadence.com

JOURNAL PUBLISHING COMPANY PRINT

ONLINE

INTERACTIVE

PHILLIP WILBURN

Multimedia/Inside Sales Consultant Trimming • Removal • Stump Grinding Hazardous Tree Removal Experts Free Estimates / Insured 24-HOUR SERVICE

phillip.wilburn@journalinc.com 3637 PEPPERTOWN ROAD FULTON, MS 38834 (662) 862-6497

PO Box 909 Tupelo, MS | 38802-0909 1242 South Green Street Tupelo, MS | 38804

Phone 662.678.1530 or 1.800.270.2614 ext.530 Fax 662.620.8301

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MONTH 2017

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BUSINESS JOURNAL

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MONTH 2017