Mississippi Business Journal 2022 March Issue by Journal Inc

MSBUSINESS.COM | MARCH 25, 2022 ISSUE

VOLUME 45 • NO. 1 | 28 PAGES

Small Business

Architects and Engineering

Budding

Business

Page 8

Page 13

Agri-Business/Made in Mississippi

Pages 9, 16, 18, 21

Page 21

Mississippi Business Journal

March 2022 Issue

BUDDING BUSINESS

STEVE HELBER | AP

In this file photo, a marijuana bud is ready for processing at the Greenleaf Medical Cannabis facility in Richmond, Va., on June 17, 2021. Mississippi’s medical marijuana program was signed into law Feb. 2, 2022. The first products from the state are expected to be available in early 2023.

Watchers of Mississippi’s budding medical pot market expect robust participation BY TED CARTER

The fairly open medical marijuana law fashioned by Mississippi legislators is drawing large interest from entrepreneurs inside and outside of the state. While opportunities are plentiful, so are the risks, say lawyers helping to guide aspiring medical marijuana businesspeople through the state’s regulatory process. Market players should bring strong nerves and acceptance of close scrutiny from regulators, according to the lawyers. The state-level scrutiny will come from Mississippi’s Department of Health and Department of Revenue. The Department of Health will issue

licenses for and regulate all license types except dispensaries, which fall under the Department of Revenue, said Slates Veazey, a Jackson attorney and member of the Birmingham-based Bradley law firm’s cannabis group. But no one is expecting the regulatory hoops to discourage potential participants from entering the budding market, Veazey said. “I don’t think people appreciate what is coming here in terms of just business activity,” he said, and emphasized participation by ancillary businesses will be substantial. “We’ve got professional service providers like lawyers, CPAs, real estate agents, health-care providers – it

touches on so many aspects of the econ- Mississippi Secretary of State’s office omy.” reflects strong interest in cultivating, processing, retailing, transporting and Interest is high in joining Mississippi’s providing security for the state’s newest cash crop. medical marijuana industry “Interest is high. No pun intended,” As an indicator of activity to come, said a staffer at the Secretary of State’s Veazey said, look at neighboring Ar- office. kansas, where over a half billion dolNo surprise there, said Connor lars in sales have been generated since Reeves, a former policy advisor to the the inception of medical marijuana in Medical Marijuana 2020 campaign and 2019, including a reported $265 million Jackson attorney with the McLaughlin in 2021. Arkansas had around 79,000 firm. state-authorized cannabis patients by “There are a lot of good opportunities, the end of 2021, state health officials say. a lot of chances for Mississippians to get Veazey said the number of registrations of cannabis businesses with the TURN TO POT, 4

March 2022 Issue

Mississippi Business Journal

BUDDING BUSINESS

Mississippi’s medical weed money may be too risky for state’s banks BY TED CARTER

Mississippi’s medical marijuana businesses may take off like a high-powered rocket by the end of the year, but unless the state’s banks put out a welcome mat for them, the new industry will be generating tens of millions of U.S. dollars with nowhere to put them. The reason for the soon-to-be homeless currency: Refusals by lawmakers in Washington and Jackson to legally allow Mississippi banks to accept deposits from state-licensed medical marijuana businesses. Marijuana’s longtime federal classification as a drug prohibited under the Controlled Substances Act is a main obstacle to statutory changes. A change in congressional direction could convince the Mississippi Legislature to let state-chartered banks and credit unions accept cannabis-business deposits, a move lawmakers rejected in killing a 2021 bill to allow financial services to the medical marijuana industry. That option is still alive in the proposed federal Secure and Fair Enforcement (SAFE) Banking Act, passed by the U.S. House in April 2021 with strong bipartisan support. The measure is in the Senate, still awaiting consideration by the Committee on Banking, Housing and Urban Affairs. The stalled action could mean Mississippi’s medical cannabis businesses will go live by year’s end having to decide whether to stash their cash somewhere in the state or send it out in armored trucks to out of state banks that will accept it. “Get a big vault,” suggested Connor Reeves, a Jackson medical cannabis advocate and attorney who is advising clients on venturing into Mississippi’s newest industry. It is true that monetary success in the new pot ventures is within reach, said Slates Veazey, a Jackson attorney and member of the medical cannabis group at the Bradley law firm. But navigating the banking system will be a challenge, he cautioned. “I think people see a lot of up-side here,” Veazey said. “But there is certainly some risk” in the financial services category. Banks are caught in the middle. The relatively small number of banks and credit unions around the country

that serve state-licensed marijuana businesses risk violating parts of the Bank Secrecy Act forbidding the use of funds that come from illegal activities. Beyond that, finanVeazey cial institutions must navigate a labyrinth of anti-money laundering laws, The National Law Review reported in a September 2021 update on the pending SAFE Banking Act. Reeves Banks also subject themselves to various recordkeeping and reporting requirements, including alerting the Financial Crimes Enforcement Network whenever they suspect a case of money laundering. Second-class status will handicap Mississippi’s fledgling cannabis sector beyond depriving participating businesses of a place to deposit their money, The National Law Review’s 2021 article reported. “… bereft of proper banking and financial services, cannabis-touching companies are restricted in their ability to raise capital, retain favorable loan arrangements, protect their earnings, and generally grow their businesses.” To continue to flourish, these companies have a simple need: “A stamp of approval on the federal level for cannabis-related banking activities,” The Law Review said. Reeves, the Jackson attorney, expects Congress will soon give a greenlight to financial services in the 47 states that have legal marijuana use in some form. “I bet that it is coming. I bet that it is coming soon,” Reeves said. Authors of The National Law Review article agree, based on their assessment of Senate support. “Many within the Senate are optimistic that the bill will pass, especially with overwhelming support from organizations and businesses, including the American Bankers Association, the American Financial Services Association, and the Credit Union National Association. The time is ripe for cannabis banking reform and one hopes the nation’s legislators see that.” In Mississippi, some banks are expected to take deposits from medical

ROGELIO V. SOLIS I AP

A senator holds a bag of hemp product, used by Sen. Kevin Blackwell, R-Southaven, lead negotiator, to illustrate to lawmakers what specific portions of the Mississippi Medical Cannabis Equivalency Units would look like, during his presentation of the Mississippi Medical Cannabis Act in the Senate Chamber at the Mississippi State Capitol in Jackson, Miss., Thursday, Jan. 13, 2022. The body passed the act. marijuana companies, said Gordon Fellows, president and CEO of the Mississippi Bankers Association, in an email. But until Congress gives financial institutions safe harbor, the risks are high, Fellows said. “Each bank is going to have to make individual decisions about their institution’s risk tolerance and determine if they are willing to provide services to this new industry…” Banks tend not to like testing their risk tolerance, according to Fellows. He noted Washington State has had legal recreational marijuana for nearly a decade but only six or seven banks serve the industry there. “So, there are a lot of federal risks, even in states where the law is well established,” Fellows said. The Mississippi Bankers Association expects that banks that do work with the medical cannabis industry won’t be extending loans, choosing to limit the relationship to taking deposits. “Deposit services will be challenging, and lending will be even more challenging,” he said. Loans are not out of the question, but the collateral extended will be key, according to Fellows. “I don’t think many banks will be interested

in making loans secured by marijuana plants or processed cannabis,” he said. Meanwhile, Mississippi’s credit unions will likely keep a distance from the new cannabis business sector, according to Charles Elliott, president and CEO of the Mississippi Credit Union Association. Elliott cited the failure of Mississippi’s 2021 banking bill, saying, “I do not expect credit unions will participate in these businesses.” He expects, though, that Mississippi credit unions will let customers use their credit union debit cards at medical marijuana dispensaries. Another option is likely to come from leading U.S. legal cannabis payments provider CanPay. Shortly before the state’s voters approved the ballot initiative in November 2020, CanPay CEO Dustin Eide assured in an interview with The Mississippi Business Journal that his Colorado-based company will offer its services to Mississippi marijuana patients through its mobile application. Eide’s company will charge dispensaries an interchange fee on each transaction. CanPay charged a fee of about 2 percent at the time of Elder’s fall 2020 interview.

Mississippi Business Journal

Pot FROM 2

involved in the new industry,” said Reeves, who previously served as general counsel to the Mississippi Medical Association and today is advising people who want to be on the ground floor of the state’s fledging medical cannabis sector. “Our clients are moving full steam ahead for when

March 2022 Issue

licensing requirements go live this summer,” Reeves said. “Our phone has not stopped ringing for the past few weeks.” A lot of private capital is already rolling in, according to Reeves, with a good portion of the new investment coming from Mississippians who have been successful in other industries. The in-staters are not hesitant to call on

cannabis professionals from across the country, Reeves said. “What we’re seeing is that folks in Mississippi are reaching out to out of state for expertise. That is a smart move. That is a good way to get started…” What’s more, said Reeves, “We’re seeing a lot of Mississippians coming home” to join the new industry. Bradley’s Veazey said

he is hearing from a number of soon-to-be large cultivators around Jackson who think a lot of homegrown companies will materialize. Still, “I do believe there are some stabilized players in other markets who have partnered with Mississippians to get operations going,” Veazey said. He said local trade groups have been created.

“They are forming a completely new network in the Mississippi business community,” Veazey added. “This is touching on so many other industries.” The attorney expects capital investment will come from across the spectrum, ranging from investment from local families that have the funds to enter the market all the way up to eq-

WXN WXN WOMEN’S LEADERSHIP SUMMIT 2022 Real Power. Real Women. Real Change.

APRIL 28, 2022 KEYNOTE SPEAKER:

Judge Glenda Hatchett

9:00AM - 5:00PM | Sheraton Flowood

Power isn’t about the car you drive, the title you hold or the money you earn. It’s about authenticity, vulnerability, empathy, humility, quiet confidence and resilience. It’s kind, joyful and caring. It’s lifting others up rather than putting them down. This is real power – the kind the world is hungry for. So don’t miss this chance to hear real stories from real women who show us exactly what it means to be powerful, how to step into it ourselves and how to empower others to do the same.

Buy Tickets: wxnetworkusa.com

uity groups.

Report points toward possible big job growth related to medical marijuana

Industry job creation could be substantial if it follows patterns set in other cannabis states. Leafly, a national webbased marijuana company and data surveyor of the industry, calls cannabis “America’s hidden job boom.” The Seattle-based company’s 2021 jobs report, prepared with the help of Whitney Economics, estimated marijuana companies nationally hired 80,000 workers in 2020 to bring total job creation to an estimated 321,000 Americans. The total marked a 32 percent increase from last year, more than double the 2019 increase, according to Leafly. The report says an estimated 321,000 Americans now work in the $10-billion-plus industry. This is a 32 percent increase from 2019, the report found. Such numbers make legal marijuana one of the nation’s fastest-growing sectors, the Washington Post reported in a September 2021 article on cannabis job growth. “In other words: The United States now has more legal cannabis workers than dentists, paramedics or electrical engineers,” the Post reported. Of the total jobs created, professional and technical workers – such as accountants, lab workers, marketers and tax experts – filled more than half, the Post article reported. Corey Miller, Mississippi’s state economist, said the University Research Center he runs has not spent much time analyzing potential marijuana jobs creation in the state. He said he expects, however, that “some number of jobs will be created” throughout the supply TURN TO POT, 5

March 2022 Issue

Pot FROM 4

chain of production, distribution and the dispensaries.

What are the fees associated with entering the medical cannabis sector? Fees set by the state are as low as $1,500 (a one-time charge) for micro-cultivators of 1,000 square feet or less to a single application charge of $60,000 and yearly fee of $150,00 for more than 100,000 square feet; $2,000 for processors of less than 2,000 pounds annually and a $3,500 annual fee to $15,000 for more than 3,000 pounds along with a $20,000 annual fee. Licensed dispensaries must pay a oneSTEVE HELBER | AP time application fee of $15,000 and an anIn this file photo, marijuana plants are close to harvest in a grow room at the Greenleaf nual license fee of $25,000. Medical Cannabis facility in Richmond, Va., on June 17, 2021. Mississippi’s medical marijuana A license to transport cannabis from program was signed into law Feb. 2, 2022. The first products from the state are expected to one facility to another includes a one-time be available in early 2023. fee of $5,000 and annual fee of $7,500. Testing facilities will pay a one-time fee of entering Mississippi’s medical marijuana election on whether to opt back in. $10,000 and an annual fee of $15,000. The sector: • The MS Department of Health has unsame fees are set for research facilities. • Cities and counties have until May 3, til June 2, 2022 and the MS Department of 2022 to opt out of the cannabis program. Revenue has until July 2, 2022 to adopt What you need to know about Mississippi Each can fully opt out, meaning no li- regulations and activate an application censed cannabis business can operate process for licensees. Both agencies have medical marijuana program in that jurisdiction, or they can choose 30 days to accept or reject an application Here is a summary that Veazey and which types of licensees to allow. If they once submitted. Jonathan Bares, a colleague in Bradley’s opt out, they can opt back in later or vot• The Mississippi Department of Health Jackson cannabis practice, prepared on ers can gather signatures for a special will issue licenses for and regulate all li-

Mississippi Business Journal

Authorized dealer for

Konica Minolta

Cindy Sappington

Talmadge Ray

and their award winning Bizhub products.

cense types except dispensaries, which fall under the Mississippi Department of Revenue. • Certifying providers include physicians, physician assistants, nurse practitioners, and optometrists. Patients 25 or under must be certified by a physician. Each profession’s respective licensure board will likely adopt regulations particular to those professions’ involvement as certifiers. • Generally, the licenses available include cultivators, processors, dispensaries, laboratories, transporters, and disposal companies. • Dispensaries, research facilities and testing labs may be located in an area in a county or city that is zoned commercial or for which commercial use is authorized. • Cultivation facilities and processing facilities may be located in an area in a county or city that is zoned agricultural or industrial or for which agricultural or industrial is authorized. • The main entrance of a licensed facility must not be within 1,000 feet of the property line of any school, church, or daycare. If within 1,000 feet, the applicant must obtain a waiver from the school, church, or daycare. • No dispensary may be located within 1,500 feet from the main point of entry of the dispensary to the main point of entry of another medical cannabis dispensary.

We Keep Your Business Going • Serving Tupelo & North Mississippi Since 1988 • Local Sales, Service, Parts, Supplies &Billing • InHouse Lease Program

Tupelo 662-842-9410 Columbus 662-687-0689

Talmadge Ray,Tupelo Cindy Sappington, Tupelo Chris Carter,Columbus jtrayco.com

Mississippi Business Journal

March 2022 Issue

MBJ

PERSPECTIVE March 2022 Issue • www.msbusiness.com • Page 6

A member of the Mississippi Press Association

www.mspress.org

132 Riverview Dr., Suite E • Flowood, MS 39232 Main: (601) 364-1000 • Fax: (601) 364-1007 E-mails: mbj@msbusiness.com, ads@msbusiness.com, photos@msbusiness.com, research@msbusiness.com, events@msbusiness.com Website: www.msbusiness.com

Will Legislature choose the ‘better solution?’

he Mississippi Development Authority (MDA) wants to stand up a new venture capital non-profit to handle $52 million in COVID-19 funds coming to Mississippi. A bill is pending in the Legislature to do just that. BILL CRAWFORD Hmmm. In 1994 the Legislature undertook agency seems a nearly identical venture. It put $20 strange. Innomillion into Magnolia Venture Capital vate MissisCorporation, a private non-profit un- sippi already der the control of the Mississippi De- c o o r d i n a t e s partment of Economic and Communi- its activities ty Development (MDA’s predecessor). with MDA. It The venture failed, did not start-up any was foundnew ventures and was investigated for ed in the late extravagant expenditures and corrupt 1990s by John activities. Palmer and “We ended up with a scandal before,” other successsaid state Sen. David Blount when the ful business bill came through the Senate. leaders as a “If you look at history, any time gov- public/private ernment gets involved in private busi- partnership to ness affairs like this, you end up with spur technology and other innovative misspending, strong arming, cronyism start-ups. A review by Site Selection and corruption,” said state Sen. Chris Magazine stated, “In the two decades McDaniel. that Innovate Mississippi has been in As suggested by Mississippi Today, business, more than 1,500 startups have when Jackson Democrat Blount and been connected to over $181 million in Laurel Republican McDaniel align, seed and venture capital, resulting in you know something unusual is in the the creation of thousands of new jobs.” woodpile. This may be something from the The Greenwood Commonwealth woodpile – MDA is a state agency unquestioned MDA’s move, recommend- der the direct control of the governor ing the Legislature utilize existing, ex- while Innovate Mississippi is under the perienced venture capital organizations control of an experienced private sector such as Innovate Mississippi to manage board. the money rather than a new start-up The Senate passed a bill to utilize the controlled by MDA. federal money but excluded the lan“These organizations have the prop- guage MDA wants to set up a new vener vetting mechanisms and an excellent ture capital non-profit. The bill went to historic track record,” the paper stated. the House, where the Ways and Mean Using them “would be fruitful. Creating Committee put in MDA’s requested a new state venture capital agency from language. As this was written early Friscratch would not.” day, the bill was awaiting action by the Indeed, MDA’s push to start a new full House.

March 2022 Issue | Volume 45, Number 1

TAMI JONES Publisher tami.jones@msbusiness.com • (601) 364-1011 MARCIA THOMPSON Business Assistant marcia.kelly@msbusiness.com • (601) 364-1044 FRANK BROWN List Researcher frank.brown@msbusiness.com • (601) 364-1022 LYNN LOFTON Contributing Writer mbj@msbusiness.com • (601) 364-1018 TED CARTER Contributing Writer mbj@msbusiness.com • (601) 364-1018 BECKY GILLETTE Contributing Writer mbj@msbusiness.com • (601) 364-1018 LISA MONTI Contributing Writer mbj@msbusiness.com • (601) 364-1018 SUBSCRIPTION SERVICES (601) 364-1000 subscriptions@msbusiness.com

Perhaps the members of the House Ways and Means Committee weren’t paying attention. Mississippi has been down this road before. No. Mississippi has run off this road, through the ditch and into the gully before. “Venture capital is by definition making risky investments,” noted Blount. “That’s not our job.” The Commonwealth’s “better solution” to stick with proven venture capital organizations like Innovate Mississippi is on target. Hopefully, the Legislature will not shoot itself in the foot again and turn $52 million over to a new entity under the control of the governor and his political appointee at MDA. “I will instruct you and teach you in the way you should go; I will counsel you with my eye upon you.” – Psalm 32:8. BILL CRAWFORD is a syndicated columnist from Jackson. Readers can contact him at crawfolk@gmail.com.

Mississippi Business Journal (USPS 000-222) is published monthly with one annual issue by MSBJ 132 Riverview Dr., Suite E, Flowood, MS 39232. Periodicals postage paid at Jackson, MS. Subscription rates: 1 year $109; 2 years $168; and 3 years $214. To place orders, temporarily stop service, change your address or inquire about billing: Phone: (601) 364-1000, Fax: (601) 364-1007, Email: marcia.kelly@msbusiness.com, Mail: MS Business Journal Subscription Services, 132 Riverview Dr., Suite E, Flowood, MS 39232 POSTMASTER: Send address changes to Mississippi Business Journal, Circulation Manager, 132 Riverview Dr., Suite E, Flowood, MS 39232 To submit subscription payments: Mail: MS Business Journal Subscriptions Services, 2132 Riverview Dr., Suite E, Flowood, MS 39232. No material in this publication may be reproduced in any form without the written consent. Editorial and advertising material contained in this publication is derived from sources considered to be reliable, but the publication cannot guarantee their accuracy. Nothing contained herein should be construed as a solicitation for the sale or purchase of any securities. It is the policy of this newspaper to employ people on the basis of their qualifications and with assurance of equal op-portunity and treatment regardless of race, color, creed, sex, age, sexual orientation, religion, national origin or handicap.

THE MISSISSIPPI BUSINESS JOURNAL,

March 2022 Issue

Mississippi Business Journal

PERSPECTIVE

FROM THE GROUND UP Monetizing your business

hile watchto the publisher if the reader ing a recent clicks on the ad and purchases episode of something. CBS Sunday Nowadays, it is becoming Morning (my favorite TV more difficult to find a website show) I noticed that the “Calthat doesn’t include an ad endar” section had changed. to click on. So one way to Instead of being full screen, monetize your revenue is to PHIL HARDWICK the items had been relocated include ads on your company to a sidebar and three-fourths of the or organization’s website. If you’re wonscreen contained an advertisement for – I dering how to do this, go to www.google. can’t remember – a prescription drug or com. And if you’re curious about what to some kind of insurance. I’ll be darned, include, check out the Webflow Blog “11 I thought. They have monetized the smart ways to monetize a website in 2022 calendar. (with examples). It’s online at: https:// Lots of things are being monitored webflow.com/blog/how-to-monetize-athese days that used to be without comwebsite mercialization. Let’s take a look at some There are even ways to monetize cusexamples. Perhaps you can find a way tomer actions when they visit your place to make more money for your business of business. Recently, my wife and I had or organization. Then again, maybe a delicious dinner at a well-known Italian there are some things that shouldn’t be restaurant. On the table was an electronic monetized. box about the size of a half loaf of bread. In general, the term “monetize” is On one side was a colorful digital screen defined as turning an asset into cash. My on which I could play games, pay my problem with that definition is that it im- bill, and – you guessed it – click on ads. plies that the asset is replaced with cash. One result was that there was even less For purposes of this discussion, we will contact with the server. And isn’t that keep the asset, but use it to add cash. For what business is trying to do everywhere example, if you’re reading this column – find ways to replace employees? Well, online, you probably see an ad embedok, inefficient and costly employees. Is ded within it. The publisher still has the that what customers really want? But I column, but the addition of an adverdigress. tisement might generate additional cash The sports world has probably done

more monetizing than just about any other industry. Remember when college football bowls were named after flowers, fruits, and real things? Now we have insurance company bowls, places bowls, retail store bowls, and even vegetable spread bowls. Click on any of the bowls and discover plenty of ads to click on for official merchandise and more. All of that is about monetizing an asset. And then there are the football stadiums themselves, especially the NFL venues. It seems to have begun in 1975 when the Superdome became the Mercedes-Benz Superdome. Then there are the parks and fields themselves. For example, the Mississippi Braves play at Trustmark Park. Obviously, naming rights are a popular way to monetize an asset. Even college athletes can now monetize their name, image, and likeness (NIL). The opportunity became a wide-open field on June 21, 2021, when the U.S. Supreme Court ruled that the National Collegiate Athletic Association (NCAA) was engaging in what they called an “illegal restraint of trade” by forbidding athletes to get endorsement deals for their sports play. According to ESPN, between July 31, 2021and Dec. 31, 2021, more than 125,000 athletes have signed some form of a NIL deal. According to an article by AJ Maestas and, Jason Belzer

entitled, How Much Is NIL Worth To Student-Athletes?, “From a collegiate athlete standpoint, last year Electronic Arts agreed to pay approximately $40 million to more than 29,000 current and former players. The payments averaged out to $1,200 per student-athlete, with a maximum payment of $7,200, depending on the number of games in which they appeared and whether they were closely identified in those games.” NASCAR vehicles were monetized a long ago. It used to be just car-related items. Now there are candy, washing powder, and office supply stores sponsor names on the cars. Speaking of vehicles, while getting gas recently, an advertisement from the gas pump entertained me while making the transaction. Who would have thought that a gas pump could be monetized? Tennis players have logos on their shirts – will football and basketball be far behind In conclusion, are there ways that your business or organization can monetize an asset to increase revenue? However, before getting caught up in the monetizing frenzy, don’t forget to pay full attention to your core business. That’s where the real revenue comes from. PHIL HARDWICK is a regular Mississippi Business Journal columnist. His email is phil@philhardwick.com.

Mississippi Business Journal

March 2022 Issue

Small Business

MSU Center for Entrepreneurship and Outreach helps students launch companies

BY BECKY GILLETTE

ississippi State University students who work with the Center for Entrepreneurship and Outreach don’t get college credits. The E-Center programs help students with innovative ideas design and build their own companies, meaning some students walk across the graduation stage into an investment-backed company of their own. “At any given time, we are working with around 100 possible startups,” said E-Center Director Eric Alan Hill. “Our primary mission is encouraging students to use their ideas to found their own

companies. I would say in the past five years, there have been many cases of that, and eight cases where they have raised six-digit investment rounds, at least. It is exciting because not only are they creating a job for themselves but, in most cases, they are creating jobs for others. There are roughly 35 employees under the age of 30 working across those companies.” The program directly targets the brain drain that occurs when college graduates leave the state for better career opportunities elsewhere. The program is entirely co-curricular; it operates outside any degree-bearing programs. It is applied learning. Students

learn through launching their company. Students come in with an idea and are put through a stage gate process. There are 35 items on a checklist that they work through in stages at their own pace. Hill hasn’t seen any correlation between grades and social economic background that define success in the companies. “It is a level playing field,” he said. “That is a really important thing for people to recognize in Mississippi because I think lots of time people think there is something special about those who TURN TO MSU, 9

8 SIGNS YOU NEED PEOPLE LEASE FOR YOUR BUSINESS

Customized

Insurance for your business & employees

The workload is overwhelming. You need more time to focus on your business. You are drowning in paperwork. Payroll stresses you. You want to offer better employee benefits. You need an HR expert. You have poor employee retention. You doubt your business conforms to state and federal compliances. Business Insurance

Workers' Compensation

Employee Benefits

Group Health

Services

We know small business insurance.

(601) 987-3025 www.peoplelease.com

689 Towne Center Blvd., Ste A Ridgeland, MS 39157

601-981-3663

www.accountservicesgroup.com

March 2022 Issue

Mississippi Business Journal

Small Business Development Centers

Small Business Development Centers Center & Address

Phone / Email

Director

Services Offered

City of Jackson MS-SBDC 200 S. President St., Jackson, MS 39201 East Central Community College - MSBDC Workforce Development Ctr, 52 9th St, Decatur, MS 39327 Gulf Coast MS-SBDC & Business Resource Center 2510 14th St., Gulfport, MS 39501 Hinds Community College MSBDC - Business Assistance Center 3805 U.S. 80 East, Pearl, MS 39208 Hinds Community College MSBDC/International Trade Center 1500 Raymond Lake Rd, Raymond, MS 39154 Hinds Community College Vicksburg Banks Building, 755 Miss. 27 S., Vicksburg, MS 39180 Jackson State University MS-SBDC – College of Business 1400 J.R. Lynch St., Ste 332, Jackson, MS 39217

601-960-1638 mdavis@mississippisbdc.org 601-635-6296 sbdc@eccc.edu 228-396-8661 gcsbdc@olemiss.edu 601-936-1817 jgbennett@mississippisbdc.org 601-857-3581 sbdc@hindscc.edu 601-857-3581 sbdc@hindscc.edu 601-979-1100 infosbdc@jsums.edu

Michael Davis

Counseling by Appointment for Jackson Metro

Tony Hisaw Connnie Whitt

Counseling by appointment for counties: Jasper, Leake, Newton, Neshoba, Scott, Smith and Winston. Counseling by appointment for counties: George, Hancock, Harrison, Jackson, Pearl River and Stone and International Trade.

James Bennett

Counseling by appointment

James Harper

Counseling by appointment for counties: Adams, Amite, Claiborne, Copiah, Franklin, Hinds (in the county), Jefferson, Lawrence, Lincoln, Pike, Rankin, Simpson, Walthall, Warren, Wilkinson.

James Harper

Counseling by Appointment

Rickey Jones

Miss. State Univ. MS-SBDC 60 Technology Blvd, Starkville, MS 39759

662-325-8684 chip@mississippisbdc.org

Chip Templeton

Counseling by appointment for counties: Attala, Hinds (city of Jackson), Holmes, Madison, and Yazoo. Part of the Thad Cochran Research, Technology & Economic Development Park; Counseling by appointment for counties: Choctaw, Clay, Lauderdale, Lowndes, Kemper, Monroe, Montgomery, Noxubee, Oktibbeha, and Webster.

Miss. State Univ. MS-SBDC - Business Assistance Center 2212 5th St., No. 202, Meridian, MS 39301 Mississippi Development Authority MS-SBDC 501 N. West St, Suite B, Jackson, MS 39202 MS-SBDC State Office 122 Jeanette Phillips Dr., University, MS 38677 North Mississippi MS-SBDC - Business Assistant Center Renasant Center for Ideas, 398 E. Main, Tupelo, MS 38801

601-696-2286 karen@mississippisbdc.org 601-826-7743 shirley.tucker@mississippisbdc.org 662-915-5001 msbdc@olemiss.edu 800-725-7232 patrice@mississippisbdc.org

Karen Kimberl

Counseling by appointments

Shirley Tucker

Statewide support

Sharon Nichols

Counseling by appointment

Patrice Harris

Counseling by appointment

North Mississippi MS-SBDC Oxford Business Center 850 Insight Park Ave. Suite 117, University, MS 38677

662-832-5347 derek@mississippisbdc.org

Derek Stephens

Counseling by appointment for counties: Alcorn, Benton, Bolivar, Calhoun, Carroll, Chickasaw, Coahoma, Desoto, Grenada, Humphreys, Issaquena, Itawamba, Lafayette, Lee, Leflore, Marshall, Panola, Pontotoc, Prentiss, Quitman, Sharkey, Sunflower, Tallahatchie, Tate, Tippah, Tishomingo, Tunica, Union, Washington and Yalobusha

North Mississippi MS-SBDC-Business Assistant Center901-603-8755 Southaven Rick Schneider Counseling by appointment rick@mississippisbdc.org 1150 Church Road W. Ste Q, Southaven, MS 38671 Oxford-Lafayette County Economic Development Foundation 662-234-4651 Allen Kerr Lafayette County N/A 299 Jackson Ave. W., Oxford, MS 38655 Southern Miss MS-BDC - Trent Lott National Center 601-266-3892 Counseling by appointment for counties: Clarke, Covington, Forrest, Greene, Jefferson Davis, Rita Mitchell sbdc@usm.edu Jones, Lamar, Marion, Perry, and Wayne. 6197 U.S. 49 S., Room 215, Hattiesburg, MS 39406 Information provided by the Mississippi Small Business Development Center. Direct questions to frank.brown@msbusiness.com.

MSU FROM 8

are successful other than their own intuition.” Currently about half of the student businesses are software based and half are hardware based or tangible goods. In many ways it is easier to start a software business because there is less infrastructure required. While they tend to see more ideas on the front side around software, in terms of whether it is a sustainable business, that just depends. In addition to helping students to launch a startup company, it provides experience preparing students for jobs working for other businesses. Hill always tells participants of their program that even if their idea fails, they still end up learning much more than they would otherwise about operation, finance, marketing and sales. “Even in the failure scenario, you are so much more attractive to employers not just for hard skills, but also just the initiative,” Hill said. “I graduated with an engineering degree. When I went to a place to work, all they wanted to talk about was the startup and not my grades.” Hill said there is an important distinction about the type of entrepreneurship being promoted at MSU. Many people think starting a business

Eric Hill means opening a restaurant or boutique. But the E-Center encourages students to concentrate on some type of innovation – usually technology – that can be scaled up beyond the borders of Mississippi. “And that is a lot harder to do than open a restaurant or shop,” Hill said. “We are the people who keep the pot stirred and try to motivate entrepreneurs, but also help them find help. Help comes in a lot of different ways. One is investment. It takes investors to make these happen. The second is

coaching. It takes people who have been there to teach and mentor new young entrepreneurs on how to avoid mistakes. “Mississippi on the whole is somewhat behind on both those things. That said, it is probably the best it has ever been, and I have made that statement for the past five years. It is trending in the right direction, and I think that is very important to underscore.” Graduating companies that have done well include Glo, a company headquartered in Starkville that has now sold four million units of the light up children’s toy around the globe. The company now employs 27 people in Starkville, no small feat for a town of about 20,000. Another company that has made great gains is DueT Technology, or DueTT. One of the owners, Thomas White, taught at a barber school near Starkville and has a YouTube channel with more than 125,000 followers interested in different hair styles. Blacks and Latinos have thicker hair follicles that can cause hair clippers to overheat. That means barbers can need multiple numbers of clippers to prevent overheating that can burn a customer’s hair. White connected with engineering students Vicki Jordan and Tyler Anthony to develop clippers with built in cooling systems eliminating the need for extra clippers. A patent is pending for the

clippers from the company whose headquarters is in Starkville in an old barber shop. Manufacturing is being done in Corinth. “All three founders are African American,” Hill said. “Given the cultural misconceptions about Mississippi, I love these students defying the odds and doing so around a technology company that has the chance to be incredible. They have raised well in excess of $400,000 from mostly Mississippi investors.” Rocketing Systems, Social Media Ambassador Management Software, won the SEC student pitch competition and is valued at over $2 million. Calvin Waddy, Shelby Baldwin and Brandon Jones launched an online clothing store. They wanted to learn how to market and scale it up using Shopify, an e-commerce platform where you build a storefront to sell products. After early marketing on their own, they turned to social media and invested in brand ambassadors. Revenue was $3,000 before utilizing brand ambassadors. Once these influencers started spreading the word, figures rose to $50,000 in a month’s time. To automate the management process, they began creating the Buzzbassador application solely for their own use, but later realized there was a big market for it for other online shops.

10 n

Mississippi Business Journal

March 2022 Issue

Small Business MSU students’ start-up company Glo now valued at nearly $20 million

BY BECKY GILLETTE

lo, a company based in Starkville, started when Hagan Walker, CEO and co-founder, and Anna Barker, co-founder and vice president, were students at Mississippi State University working with the MSU Center of Entrepreneurship and Outreach. The company that now does business with the likes of Sesame Street recently completed a $1.72 million capital raise, bringing the value of the company to nearly $20 million. Initially they started with a product called Glo Cubes, a liquid-activated lightup drink accessory. They experienced early success with selling these to bars and restaurants across the U.S. “In 2017, a customer reached out to let us know that she found Glo Cubes in a restaurant and took them home for her son, a 4-year-old with autism who was terrified of bath time,” Barker said. “The light-up technology was used as a calming tool to help him process the

overstimulation that many children with autism experience. “His story influenced the development of the Glo Pals, a line of children’s sensory products, and our purpose: to nurture imagination, encourage development, and support learning through playtime.” Barker said the company has sold more than 4 million Global Pals to customers in 36 countries. The products are available in 1,400 retailers throughout North America. The influence of the autism community eventually led to them partnering with Sesame Workshop to create an exclusive line of Glo Pals featuring the iconic Muppets. The collaboration launched in April 2021 with the release of Elmo and his new friend, Julia, Sesame Street’s first autistic Muppet. “We focused on highlighting Sesame Workshop’s ‘See Amazing in All Children’ initiative in the hope of promoting a world where every child is seen, valued and loved,” said Walker, who turned down an opportunity to work

Hagan Walker and Anna Baker started Glo while students at Mississippi State University. They started by making Glo Cubes, a liquid-activated drink accessory. After a customer wrote them about the calming effect on her 4-year-old son, who has autism, Glo created a line of Glo Pals, which led to a partnership with Sesame Workshop. for Tesla to develop Glo. In April the company will expand that

line to include Abby Cadabby, Big Bird and Cookie Monster.

Buzzbassador has raised just under $1 million for influencing marketing software

BY BECKY GILLETTE

Tyler Anthony (seated), Thomas White (standing) and Vicki Jordan used guidance from the Mississippi State University E-Center to found Duet Technology, LLC – also known as DueTT – which has developed hair clippers with built-in cooling systems to prevent overheating and the need for extra clippers when cutting hair for Blacks and Latinos.

DueTT developing ‘cool’ hair clippers for needs of Black, Latino customers

BY BECKY GILLETTE

n 2018 while attending Mississippi State University, best friends Tyler Anthony and Thomas White founded Duet Technology, LLC – also known as DueTT – to develop an innovative form of

the electric hair clipper to solve what they say is the number one problem 85% of professional barbers face in the Black and Latino communities. An MSU engineering graduate and licensed barber, White began cutting hair as a hobby

while in college. He quickly noticed that all three primary devices used on every haircut overheated fast. The only way to deal with this problem was to buy multiple sets of the same TURN TO DUETT, 12

he idea for influencer marketing software product Buzzbassador was born from the same thing all great startups are: a problem. As college students in the MSU Center for Entrepreneurship and Outreach, Calvin Waddy, Shelby Baldwin and Brandon Johns’ first entrepreneurial venture was an online apparel store that – to their surprise – quickly found traction, selling to over 9,000 customers worldwide. Their recipe for success included one main ingredient: influencer marketing, a booming advertising method where brands promote their products through social media users with

BROOKE LAMMERT | MISSISSIPPI STATE UNIVERSITY

From left, Rocketing Systems CFO Brandon Johns, COO Shelby Baldwin and CEO Calvin Waddy created Buzzbassador to manage influencer marketing campaigns. a significant audience of engaged followers. The problem they faced? As influencer campaigns scale, so do their required management – and for small businesses and teams, this can be a huge strain. Soon the daily

recruitment, communication, payments, affiliate revenue attribution and many more influencer-related tasks overwhelmed the trio’s business operations. The founders searched TURN TO BUZZ, 12

March 2022 Issue

Mississippi Business Journal

Small Business

Despite obstacles, Vera Hall didn’t give up on owning her own construction company

BY BECKY GILLETTE

era Hall, owner of Innovative Performance Construction Co., has had a passion for construction since she was in college and worked with her brother doing painting contracting. She was an agriculture business major at Alcorn State University and had an assignment in one class to do a project. Most of the other students did engineering projects regarding a tractor or truck. She ended up building a screen door. She went on to graduate school at Alcorn and then studied animal science at Louisiana State University before earning a master’s in divinity at Emory University in Atlanta. Born and raised in Fayette, which is near Port Gibson and Natchez, she married a construction contractor, and the two started a construction business. When the couple divorced, she lost the business. “But I didn’t give up. I took the state Board of Contractor’s exam, passed it, and started Innovative Performance Construction Company in 2010,” Hall said. Hall has gotten a lot of help through the years from the SBA Mississippi District Office and her local Procurement Technical Assistance Center providing her the ability to participate in the 8(a) government contracting program created to help firms owned and controlled by socially and economically disadvantaged individuals. She said the SBA surety bond program has been vital, allowing her to bid on 8(a) government contracts. “Vera is working for change in her community of Jackson, helping renovate historic churches and affordable housing,” said a press release from the SBA. “Using SBA contracting assistance programs and surety bonding, Innovative Performance Construction has risen to prominence in the industry. “It’s difficult to be a woman competing in the construction industry. Vera is not just doing the hard work to secure the contract; she’s also working to correct a perception. She knew that becoming a government contractor would empower her while also scaling up her small business.” Hall was featured recently on the front cover of the SBA Mississippi Small Business Resource Guide.

attitudes and people governing some of these projects are still out there.” She likes being her own boss and accomplishing significant work. “When I first started, most everybody would say, ‘You’re going to need a man. You’ll never make it.’ I was able to say, ‘Yes, I can. I can do this.’ I didn’t need a man to run my company and pretty much dictate everything. The reward part is knowing I can do it and that I am independent.” Before getting involved in bidding on government contracts, Hall also did historic church preservation. Hall has found that the skills learned in ag business management helped. “A lot of the construction is handson, and a lot is administrative,” Hall KEN GORDON said. “There is a lot of bookkeeping, Vera Hall is owner of Innovative Performance Construction Company with offices in Jackson overhead and operating expenses that you have to keep up with especially and Fayette. when you are a small business. That SBA Mississippi District Director made this an all-electric home with an undergraduate program helped me Janita R. Stewart said Hall’s company electric water heater so she could take a to understand the business, and put has received significant federal govern- shower or bath, and an electric stove so everything in perspective. Without that ment contracts through SBA. she didn’t have to cook on a hot plate. background, I probably would have “She’s taken advantage of SBA’s We put in electric heaters. This was in been struggling a little bit. Surety Bond Guarantee Program; is a 2019. We take getting a bath for grant“When applying for government graduate of SBA’s Emerging Leaders ed. This woman had no way to do that.” certifications like the 8(a) program, it Program; is SBA HUBZone-certified; Hall has found being a female in takes a lot of paperwork. I shifted from received financial assistance in various a male-dominated industry can be historic churches because of the opporforms from SBA including EIDL and difficult. tunities of the 8(a) program including PPP, on and on,” Stewart said. “She “You can still get this subliminal or erosion control and bank stabilization. was our Small Business Person of the condescending attitude when dealing Last year we received were one of the Year for Small Business Week 2020. We with people like architects,” Hall said. award holders on a Multiple Award are proud of Ms. Hall’s many accom“One architect said in his letter that Task Order Contract worth $45 million plishments, and she has smartly, in my I didn’t know what I was doing and I from the Memphis District Corps of opinion, applied for and taken advanwas too young. I wrote back and said Engineers. I’m the only woman-owned tage of all of the programs she felt she the State of Mississippi had given me was qualified for, which by the way, is a contracting license. Those types of TURN TO HALL, 13 working out for her quite well. We want to see many more Ms. Vera Hall’s in Mississippi.” Hall started doing affordable housing work in low-income areas, renovating housing for the elderly and disabled. Some homes needed roofs or handicapped accessible additions. Hall recalls one project for an elderly MANUFACTURING woman who didn’t have hot water and CONSTRUCTION only a hot plate to cook on. No one else SERVICE/RETAIL wanted to take the project because it At Galloway Chandler McKinney Insurance, we’re your didn’t pay enough. friends and neighbors. We know you, and we understand “It wasn’t an up-to-date home,” Hall the protection you and your business need. said. “It was so old that the gas compawww.gcminsurance.com ny had turned her gas off and removed Aberdeen • Amory • Columbus her gas line. She could never afford to get the gas lines replaced. We put two Starkville • West Point 220-volt lines through her home and

We’ve Got You Covered.

12 n

Mississippi Business Journal

March 2022 Issue

DueTT FROM 10

devices to get through the day. After years of dealing with this problem, White decided there had to be a better way and immediately began working on ideas for a product to solve this issue that plagued clippers since their invention in 1921. While cutting Anthony’s hair, they often discussed the overheating problem and potential solutions. White and Anthony, a senior computer engineering student at MSU, began developing prototypes. Over the past four years, the duo has continued

refining those prototypes into their finished product – the DueTT Switch 1.0. From the beginning, they knew they had to establish trust with the barber community beforehand to build up a customer base before launching their product. Therefore, they created the Barber Style Directory brand in 2018, which has become one of the most influential voices in the barber industry. Since launching BSD, they have accumulated nearly 100,000 followers on Instagram and have amassed a YouTube audience of over 125,000 subscribers with more than 7 million views to date. They have also used their online audience of barbers and self-groomers to elicit

he’s MAde for THIS work we’re made for

WORKERS’ COMP

For over 30 years, the experts at LUBA Workers’ Comp have been providing workers’ compensation insurance and genuine dependability to hardworking business experts like you. That way, you can focus on what’s most important, your business.

Discover the LUBA Difference at LUBAwc.com/madeforthis 888.884.5822

•

Rated A- Excellent by

the feedback of thousands of barbers in their target market to design the product’s ergonomics and features. A third member of the company is Vicki Jordan, vice president of marketing and operations, and handles social media outreach. The trio that owns the company has announced that, after four long years of development – and the help of the incredible startup resources the State of Mississippi offers, including the MSU E-Center, the Bulldog ANGEL NETWORK and the Mississippi Seed Fund – the DueTT Switch 1.0 will officially go on sale May 23.

Buzz FROM 10

for solutions, but when they were not satisfied with what the market had to offer, the idea for Buzzbassador was born: “Why don’t we just create our own solution?” Today, Buzzbassador is a full-service IRM (influencer relationship management) platform that has helped more than 3,000 eCommerce businesses in a wide range of industries and verticals drive sales and brand awareness from social media influencers. As of 2022’s Q1-end, the company, Rocketing Systems Inc. – now run by COO Baldwin and CEO Waddy – has raised just under $1,000,000 from angel investors, which has powered Buzzbassador in helping its merchants generate over $6.5 million in sales from the over 70,000 influencers who use the platform. The company received help from the E-Center’s VentureCatalyst program, which is a four-tier process that includes pitching the business concept to gatekeeper review panels at the end of each stage. The first is made up of students with successful companies and the final evaluation is by outside venture capitalists like Wade Patterson, founder of the Bulldog Angel Network. “The Buzzbassador founders are really a good team,” says Patterson. “They’re already adding things to their solution. The number of feature possibilities is infinite and I can see them going deeper into the Shopify market and also moving into Shopify competitor markets as well. “These three entrepreneurs have been very coachable, which is key to success. They execute knowing what the market wants and will pay for. I think they’re going to do quite well.”

March 2022 Issue

Mississippi Business Journal

Insurance and Employee Benefits

Is COVID-19 an occupational disease? That’s the hot topic in workers’ comp industry

BY BECKY GILLETTE

to fewer injuries, which means that he discussion about whether our policyholders ultimately pay lower COVID-19 is an occupational premiums.” disease or a “disease of life” LUBA considers it important to keep has been a hot topic in up with trends in workplace the workers’ compensation inaccidents. Looking back over surance industry. 2020, the company observed that “Some states mandated that the severity and costs associated workers’ comp cover COVID-rewith hand and finger injuries are lated claims, and others did not,” increasing. said Kelli Bondy Troutman, se“Historically, hand injuries Troutman and associated costs have not nior vice president, LUBA Workers’ Comp, a regional casualty been alarming; however, we are insurance company providing seeing injuries becoming costlier workers’ compensation coverdue to the introduction of more age in Mississippi, Louisiana, automated machinery, coupled Alabama, Arkansas, Tennessee, with developments in modern Oklahoma and Florida. medicine,” Troutman said. “Mississippi did not. Workers’ “Medical providers now have the Michiels ability to go to greater lengths to comp laws generally compensate workers for ‘occupational diseases’ repair hand and finger injuries. Powthat arise in the course of employment, erful hospital-administered antibiotics but some states exclude ‘ordinary disare used to treat infections. Skin grafts eases of life’ from this category (i.e., the can be utilized, and specialty surgeons flu or the common cold).” can treat and repair nerve and tendon Most Mississippi businesses went to damage. The development of these great lengths to help protect workers technologies has meant better wound from COVID-19 exposure by increasing care treatments, but can also mean sanitation, allowing people to work more invasive procedures.” remotely when possible, doing temWhen LUBA took a closer look at perature and symptom tests, installing eight claims involving hands and finprotections such as plexiglass barriers, gers, eight accidents had a combined and reconfiguring workplaces to have cost of $1.2 million, with an average more social distancing. claim cost of $150,000 per accident. Troutman said the COVID-19 Troutman recommends to learn more response has been a continuation of about how to prevent these and other employers continuing to place a prior- types of accidents, schedule a loss ity on workplace safety and protecting control visit with an experienced LUBA their employees’ health. Loss Control Consultant. “We see the majority of our policy“We are familiar with the industries, holders taking advantage of our loss equipment and injuries,” Troutman prevention services, which include free said. “Based on our experience with safety consultations,” Troutman said. similar operations, we can point out “Safer habits in the workplace translate where an accident is likely to occur and

make recommendations on how to prevent it. Machine guarding, lockout/ tagout procedures, and personal protective equipment are tools available to prevent devastating and expensive injuries.” The trend towards more gig workers and people working from home experienced tremendous growth during the pandemic. Employees working from home are still covered under workers’ comp, so that has not reduced their employer’s coverage, said Russell Michiels, assistant vice president and claims manager, LUBA Workers’ Comp. “But when it comes to gig workers, there is a lack of state regulations to clearly classify worker status, which ultimately determines eligibility for workers’ comp,” Michiels said. “You will see some states starting to craft bills around this topic in an attempt to provide clarity.” Michiels said COVID-19 has shown policymakers the true size of the gig economy for the first time, and it has become apparent that many of these workers are responsible for essential jobs during the pandemic. Researchers published an analysis in 2016 of what they referred to as “alternative work arrangements.” Michiels said that term is more informative than “gig” because it adds more context to what has been going on in the American workforce since the 1980s. “The term covers on-call work, temporary agencies, and independent contractors,” he said. “American employers, for decades, have been adopting strategies to shed themselves of employees with benefits and other overhead costs.”

Michiels said that between 2005 and 2015, researchers found that the percentage of women who were employed in any alternative work arrangement almost doubled – 8.9% to 17% – and the numbers for men rose to 14.7% from the previous 12.3%. “Today, 1 out of 10 work injuries happen without the worker being covered by workers’ compensation at the time of injury. Some 90,000 losttime compensable injuries may be lost to the system each year. The workers’ compensation landscape continues to monitor the gig economy and explore coverage options,” he said. Several state legislatures and agencies have considered whether certain nontraditional workers should be employees or independent contractors. “One thing for sure is the gig economy will continue to be a game-changer for years to come,” Michiels said. “Enterprises will continue to need to adjust their operations to accommodate the new innovations and regulations, and gig economy workers will need to prepare to quickly pivot to line up with new regulations and to seek out opportunities that will offer meaningful benefits.” Telehealth also became more popular due to COVID-19. But, Michiels said, in their experience, that trend has not continued in a widespread way. Injured workers typically have physical injuries that can be difficult to treat without an in-person visit with a physician. “However, the use of telemedicine is on the rise in healthcare, so it’s likely that it will find its place in the treatment of workers’ comp patients at some point,” Michiels said.

aging them to have the confidence and courage to start non-traditional careers. “I encourage women to step out on faith and move forward with the career you want regardless if it is a male-dominated career,” she said. “You are still capable and have the ability to succeed.”

Currently she employs about 10 people and has offices in Jackson and Fayette. She hopes to rebuild back to 13 or 16 employees they had prior to COVID-19. Hall is a member of the Mississippi Chapter of Associated General Contractors.

She also belongs to the Alpha Kappa Alpha Sorority, which she first joined when attending Alcorn. She and her sorority sisters do service projects. Before COVID-19, they were doing community walks to donate to charitable organizations. She is also a member of the United Methodist Church in Fayette.

Hall FROM 11

business on that MATOC.” Hall feels proud of being able to be a role model for other women encour-

14 n

Mississippi Business Journal

March 2022 Issue

Insurance and Employee Benefits

Attracting and retaining employees tougher than ever post-COVID

BY LYNN LOFTON

ttracting and retaining employees is undeniably crucial to the success of a business. Three of Mississippi’s premier employers shared a few of their employee policies for reaching those goals. MGM Resorts Southeast Operations, which includes Beau Rivage Casino Resort in Biloxi and Gold Strike Casino Resort in Tunica, uses their presence on social media and in the communities to showcase the company’s culture and values to attract candidates. “We use social media and community outreach methods for all audiences,” says Regional Director of Talent Acquisition Kimberly Pelaez. “Since the COVID pandemic, we have seen a shift in candidates looking to change careers and a shift of priori-

ties. As an organization, we highlight our competitive benefits packages, growth opportunities, and global presence to differentiate MGM from other organizations.” Citing the role technology now

in our industry. Technology also allows us to promote all roles within the organization outside of Gaming/ Hospitality roles that are commonly associated with our industry.” Peleaz points out some of the reasons MGM has long-tenured employees. “It is a great company. Employees want to feel valued and that their opinion matters. We strive to provide a culture of recognition, inclusion, and innovation where employees feel heard and that they are contributing to the success of the organization,” she said. Another large employer, Entergy, plays in hiring practices, Pelaez said, works to attract diverse job applicants “Technology allows us to promote our through its regional college recruiting job opportunities to passive candiefforts, relationships with minority dates more effectively and in real time professional organizations, and milito individuals who may not otherwise have been looking for a job or career TURN TO COVID, 15

For more than 130 years, Trustmark has provided an array of products and ser vices to meet the financial needs of businesses of every size. From deposits, loans and online tools, to cash management and trusted advice, we’ve helped businesses grow and succeed. Let us go to work for you. Learn more at trustmark.com.

March 2022 Issue

Mississippi Business Journal

Insurance and Employee Benefits COVID FROM 14

tary and veteran recruiting, according to spokesperson Mara Hartmann. When it comes to reaching young professionals, the company attracts candidates from Entergy sponsoredprograms in targeted schools. As for retaining employees, Hartmann said, “Entergy creates value for employees by providing a safe, rewarding, engaging, diverse and inclusive work environment, fair compensation and benefits, and opportunities to advance their careers.” Entergy recognizes that as the workforce changes, the company must also change. “In order to attract and retain top talent, we have to be innovative in how we do business and how we cultivate a diverse work culture,” Hartmann said. “Our employees utilize technology to solve problems, demonstrate innovation and initiative, and drive progress within the company and industry to provide benefits to key stakeholders.”

Regions Bank’s core of recruitment strategy is the belief that associates deserve more than just a job. “At Regions, we believe in offering performance-driven professionals a place where they can build their careers,” says spokesperson Jennifer Elmore. “Now, more than ever before, we know people don’t just connect with companies. People connect with people, and that’s why we invest so heavily in associate recruitment and engagement. Building the best team and career development programs are valuable tools that help us grow and nurture a diverse, highly skilled and prepared workforce.” A strategic approach to recruiting talented associates includes identifying talent by utilizing objective criteria, tools and techniques; assessing for ability and looking to additional skills that more fully reflect how a person will make the organization stronger, Elmore adds. “We attract the best candidates by demonstrating how Regions’ company culture and learning programs connect associates to personal and professional goals. Through strong relationships with colleges and univer-

sities, our team is often on campuses across our footprint to meet with students and provide opportunities to launch a career with Regions,” Elmore said. “We provide internships for prospective associates and encourage them to take an active role in learning about Regions’ culture to see if it’s a right fit for them.” Elmore says competition for attracting young professionals has increased. “Students are more empowered than ever to demand enhanced wages, flexible work arrangements, and creative benefits. Our strong corporate culture, though, gives us a competitive edge,” she said. Employees are encouraged to remain with Regions where the corporate values reflect the focus and commitment to their 20,000 associates. “Our mission is to make life better, and our associates put that mission to work every day serving customers, volunteering with organizations that are meeting important needs and helping push the communities we serve forward.” Elmore said. “Through continuous reviews of our complete benefits package, we always strive to provide benefits as-

sociates need and want. We recently expanded our healthcare programs to include access to telehealth medicine and a more comprehensive wellness program. We’re focused on providing associates with even more personal and professional development opportunities and an environment that offers a sense of belonging where every voice is heard.” Technology plays an important role in every part of banking, Elmore explains. “Now, more than ever, people turn to technology for daily life, and our team at Regions consistently explores new technology options, marketing strategies and initiatives to ensure our recruiting function remains competitive in our ever-changing industry,” she said. “We continue to perfect our omnichannel digital recruiting strategy, which focuses on employer branding and an optimized candidate experience. We use various digital and recruiting technology platforms to connect with potential associates. And recently, our team reconstructed and rebranded our internal and external career sites to better attract and retain associates.”

Account Services Group PA CO N G R AT U L AT E S

LESLIE POWELL Certiﬁed Insurance Service Representative (CISR)

Account Services Group PA congratulates Leslie Powell for attaining the designation of CISR—Certiﬁed Insurance Service Representative following her successful completion of a comprehensive insurance education program sponsored by the Society of Certiﬁed Insurance Service Representatives. This accomplishment is affirmed by the President of the Society of CISR, Dr. William T. Hold, Ph.D., CIC, CPCU, CLU. Leslie joined our agency in 2017 and works closely with our clients to make sure that their businesses are properly insured. Please join us in congratulating Leslie on her accomplishment.

16 n

Mississippi Business Journal

March 2022 Issue

Employee Benefits Administrators

Employee Benefits Administrators Company Address

Telephone Website

Founded Top Officer

Services

Fisher Brown Bottrell Insurance, Inc. 248 E. Capital St., Ste. 1200, Jackson, MS 39201

601-960-8200 fbbins.com

1936 Scott Woods

Comprehensive insurance and risk management solutions.

200

HUB International Gulf South 300 Concourse Blvd., Ste. 300, Ridgeland, MS 39157

601-707-2050 hubinternational.com

1945 C. Larry Vance, Brent Tyler

Commercial Property & Casualty Insurance; Personal Insurance; Employee Benefits; Third Party Administrator; Retirement Plan Consulting & Administration

150

SouthGroup Insurance Services 795 Woodlands Parkway Suite 101, Ridgeland, MS 39157

601-914-3220 southgroup.net

2002 Ronald P. Tubertini

Employee benefits; life; disability; risk management & employer services

150

Ross & Yerger Insurance Inc. 100 Vision Drive, Suite 100, Jackson, MS 39211

601-948-2900 rossandyerger.com

1860 Dudley Wooley, Eason Leake

Property & Casualty insurance, Business insurance, personal insurance, Employee benefits consulting; group medical; dental; life; disability; long-term care; individual life; 401(k) & retirement plans.

140

GranthamPoole PLLC 1062 Highland Colony Parkway, Suite 201, Ridgeland, MS 39157

601-499-2400 granthampoole.com

1977 Robert Cunningham

Accounting and Advisory Services

Renasant Insurance 315 Main St., Tupelo, MS 38804

662-842-1321 renasantinsurance.com

1904 Bill Dalton, Allen Maxwell

Home & Auto Insurance, Business Insurance, Life Insurance, Health Insurance, Employee Benefits

T.E. Lott & Company 221 N. 7th St., Columbus, MS 39701

662-328-5387 telott.com

1926 Stewart R Greene

Galloway-Chandler-McKinney Insurance, LLC 2320 Commerce Dr., Columbus, MS 39705

662-328-0492 gcminsurance.com

1983 Brandt Galloway

Cash balance plans; consulting; 401(k) design, administration, compliance; profit sharing; ESOP; defined benefits; cafeteria plans; qualified retirement plans and SEC-11K audits Employee benefits consulting, group medical, life, disability, and vision. Support services for employer reporting and employee communication are also offered.

Haddox Reid Eubank Betts PLLC 188 E. Capitol St., One Jackson Place Ste. 500, Jackson, MS 39201

601-948-2924 HaddoxReid.com

1958 Greg King

Assurance services; tax services; client accounting; retirement plan administration; health care consulting services.

Dyatech LLC 381 Highland Colony Parkway , Ridgeland, MS 39157

601-914-0533 dyatech.com

2001 Frank Harrison

401(k) Retirement Plan Third Party Administration

Nail McKinney P.A. 110 N. Madison St., Tupelo, MS 38804

662-842-6475 nmcpa.com

1951 Richard D Bullock

Accounting; assurance; business & individual tax planning & prep; benefit plan administration, bookkeeping & payroll

Lockard & Williams Insurance Services, Inc. dba 90 Degree Benefits 1505 Jackson Ave., Pascagoula, MS 39567

228-762-2500 90degreebenefits.com

1990 John T Lockard

Self-funded health & dental plans administration; Fully Insured Medical, dental, vision, life, disability. Section 125 plans. COBRA. Consolidated Billing, Association Health Plans

Employee Benefit Services Inc. P.O. Box 13749, Jackson, MS 39236

601-353-0002 ebsincms.com

2009 John C. Slater

Insurance; Third Party Administrator

Trust Plus Pharmacy Benefit Consultants, Inc. 102 Metroplex Blvd. Suite A, Pearl, MS 39208

601-899-9303 trustplus.net

2002 Michael L Kelly

Pharmacy benefit management (PBM), Institutional Pharmacy Services, Pharmacy Benefit Consulting Services

People Lease 689 Towne Center Blvd., Ridgeland, MS 39157

601-987-3025 peoplelease.com

1984 Larry L. Lewis

Payroll; benefits sales & administration; compliance services; human resources; insurance services; pay as you go insurance

Martin, Martin, Randall & Associates, Inc. 4 River Bend Place, Suite 125, Jackson, MS 39232

601-932-8500 mmrplans.com

1988 Don K. Martin

401(k), 403(b), ESOP, Money Purchase, Target Benefit, Age-Based and all Defined Contribution Plan administration. Actuarial Services and Certifications for all Defined Benefit and Cash Balance plans.

The William Morris Group, P.A. 4400 Old Canton Rd., Ste. 240, Jackson, MS 39211

601-948-0030 wmorrisgroup.com

1980 William H. Morris

Comprehensive Financial Planning, Life and Disability Insurance, Investments, Executive and Employee Benefits

Southern Administrators & Benefit Consultants Inc. P.O. Box 2449, Madison, MS 39130-2449

601-856-9933 sabcflex.com

1980 Jim A. Miller, Nelson D. Morrison, Nelson Morrison II

Employee benefit consulting; cafeteria plan administration; FSA; HSA; HRA and supplemental insurance products

Benefit Professionals, Inc. 629 Lakeland E. Dr. Suite A, Jackson, MS 39232

601-939-2902 benefitpros.com

1979 Terri Brownlow

Third-party administrator; 401(k); retirement plans;

Employee Benefit Specialists, P.A. 169 A Lameuse St., Biloxi, MS 39530

800-510-0686 ebspa.com

1967 Harry L. Shoemake

Sec. 125; Cobra; group health; life; dental; vision; critical illness; STD; LTD; voluntary life; accident; cancer; medical; Telemedicine

Glynn Griffing & Associates 1771A Lelia Dr., Jackson, MS 39216

601-982-0331 glynn.info

1988 Kim Griffing Porter, Fred Cavett

Medical reimbursement/Health Flexible Spending Account; Dependent Care Reimbursement; Flex/HSA Debit Cards; Benefits Portal; HRA & HSA Administration; Consulting; One Stop Shop

MWG Retirement Plan Services 500 Steed Road, Ridgeland, MS 39157

601-368-3554 mwg401k.com

1988 Allison G. Elkin

MS based full service TPA and recordkeeping for qualified retirement plans. Open architecture, 3(16) services available

Rank

Fully-Insured & Self-Funded Group Medical, Group & Voluntary Ancillary Benefits, Wellness Plans & Employee Education, Health Reimbursement Account, Flexible Spending Account, Health Savings Account, Summary Plan Descriptions, Premium Only Plan Documents, COBRA & Section 125 Plans, Compliance Reporting Tools Group medical insurance fully-insured/self-funded; life insurance; disability income; long-term care; dental; individual insurance, ACA Compliance Support. Student Loan Assistance; Telemedicine, Benefit communications; Section 125; CORE & voluntary enrollment capability; Access to Benefit Administration Systems; life; disability; cancer; accident; supplemental health; GAP Plans; prescription discount.

Mississippi Employees

57 48

Brown & Brown of Mississippi, LLC (Gulf States) 1105 30th Ave, Suite 300, Gulfport, MS 39501

228-864-1500 bbgulfstates.com

1939 N/A

Mississippi Group Marketing, P.A. 1904 Lakeland Dr., Ste. B, Jackson, MS 39216

601-982-2580 mgmins.net

1995 Thornton Castleberry, Alan Tanguay

Colonial Life 800 Woodlands Parkway Suite 206, Ridgeland, MS 39157

601-326-2952 coloniallife.com

1937 James H. Hinton

Grogan + Crews, Inc. P.O. Box 414 , Canton, MS 39046

601-859-2511 groganandcrews.com

1998 Allison G Crews

Medical; vision; dental; cafeteria plan; 401(k); disability; long-term care; life; critical illness; cancer

Group Services of Mississippi P.O. Box 6236, Jackson, MS 39288-6236

601-906-0587 groupservicesofms.com

1986 Kristin Peoples Bain

Brokers and Consultants;Fully insured & self-funded medical benefits, retiree administration, work-site benefits, group term life, AD&D & LTD, dental & vision.

Data provided by company representatives and MBJ research. Direct questions to frank.brown@msbusiness.com.

March 2022 Issue

Mississippi Business Journal

Architects and Engineering

CDFL plans for its next 60 years

BY DENNIS SEID

fter celebrating its 60th year in business last year, CDFL Architects + Engineers is forging ahead and planning for the next 60 years and beyond. The architectural and engineering firm has expanded since its anniversary last fall, having grown its staff of 39. Chris Myers, an architect and principal of the firm, said CDFL’s business model – bringing together architects and engineers under one roof to work collaboratively – isn’t a new concept, but it is fairly unique for firms in Mississippi. “We go to bat with our engineers – they’re our partners, they’re with us,” he said. “We feel like that’s the best way, particularly with our larger clients. It gives us a bigger breadth of the understanding of systems.” Among CDFL’s larger clients is the University of Mississippi Medical Center in Jackson, which is about two blocks away from the firm’s office. “We do a lot of architectural projects over there, but we also do a lot of engineering projects there,” Myers said. “So we all tag along to those meetings over there so we’re understanding the entire process of what’s going on.” Newell Watkins, vice president of CDFL, said the integrated designed process is ideal. “Buildings are infinitely more complicated than they were when this profession began, so it helps to have all parts of the design process working collaboratively day-to-day,” he said.

have been added to essentially help then walk through a virtual representation of the building they’re designing. Gone are the old physical models sitting on a large table; instead, it’s all virtual. “When we present to owners, we may flip through a set of Myers plans for 5-10, minutes and then spend an hour walking digitally through what is their building,” Watkins said. The virtual presentation helps everyone involved – the clients Watkins can see that ideas the firm has, and the architects and engineers can get better feedback. In turn, that allows better coordination between all the disciplines working on the project. Among the new projects CDFL has is the renovation of the Jackson Planetarium, and the firm presented a VR model of their plans. “We were able to project it on the interior screen of the planetarium and do a walk-through, and it was the first time we had done a full VR model like that,” Myers said. “There were some oohs and ahhs, and it helps people understand that still images or floor plans don’t do.

Market sectors

CDFL has worked on a variety of projects for a wide variety of clients. While most of the firm’s work is institutional and university related, CDFL also works with commercial, indusTechnology drives changes trial, military, correctional and other Watkins said technology is the clients. Their portfolio of projects driver behind most of the changes in includes medical facilities, dormithe profession today. What is being tories, academic buildings, baseball designed today is more sophisticated stadiums, museums, churches, banks, than ever before. and more. “Buildings are so more technically And while based in Mississippi, advanced than they have been,” he CDFL’s work has extended to Indiana, said. “There are multiple systems, and Kentucky, Arkansas, Georgia, Texas, having all the systems working effiNorth Carolina, New York, and Floriciently is the key. Technology evolves da. An office in Birmingham, Alabama at such a rapid pace today, it’s hard to was opened in 2020. keep up.” Of the many projects CDFL has That has affected the way the firm does its work. New visualization tools TURN TO CDFL, 19

Architectural and engineering firm CDFL has designed the remodeling of the Russell C. Davis Planetarium in Jackson, as shown in this rendering.

18 n

Mississippi Business Journal

March 2022 Issue

Architects and Engineering

Largest Engineering Firms

Largest Engineering Firms Rank

Company & Address

Telephone

Website

Founded

Top officers

1 2 3

Neel-Schaffer, Inc., 4450 Old Canton Rd, Ste 100, Jackson, MS 39211 Thompson Engineering, 599 North Park Dr, Suite A, Ridgeland, MS 39157 IMS Engineers, Inc., 126 E. Amite St., Jackson, MS 39201 Johnson-McAdams Firm, 108 W. Market St., Greenwood, MS 38935 Waggoner Engineering Inc., 143-A LeFleurs Square, Jackson, MS 39211

601-948.3071 601-899-9252 601-968-9194 662-455-4943 601-355-9526

neel-schaffer.com thompsonengineering.com imsengineers.com jmcfirm.com waggonereng.com

1983 1991 1996 1978 1976

Dungan Engineering, P.A., 1574 Hwy. 98 E., Columbia, MS 39429

601-731-2600

dunganeng.com

1993

Garver , 1076 Highland Colony Parkway, Ste 325, Ridgeland, MS 39157

601.825.3633

garverusa.com

1998

Cook Coggin Engineers, Inc., 703 Crossover Rd., Tupelo, MS 38802

662-842-7381

cookcoggin.com

1946

Pickering Firm, Inc., 2001 Airport Rd., Ste. 201, Flowood, MS 39232

601-956-3663

pickeringfirm.com

1981

Burns Cooley Dennis Inc., 551 Sunnybrook Rd., Ridgeland, MS 39157

601-856-9911

bcdgeo.com

1985

W. Hibbett Neel Bobby Moseley, Thad Hopper, Richard Sheffield John D. Calhoun, Rod L. Hill David R Leard Joe A. Waggoner, Emad Al-Turk H. Les Dungan, Jeff J. Dungan, J. Lee Mock, Brooks R. Wallace, Ryan A. Holmes Nick Altobelli, Wayne Black, Keith Quick Kenneth P. Geno, William Jess Wiygul, John Mark Weeden, James Matthew Estes, David McMullan Long, Jack Daniel Farmer, Jack Daniel Farmer Nat Whitten, Curt Craig, Rick Ferguson, Jonathan Johnson, Dan Townsend, Blake Collins, Andy Phelan Eddie Templeton, Randy Ahlrich, Tommy Dunlap, Marcos Rodrigues, Brad Campbell, Allen Cooley, Robert Varner Ken L Faulkner Ryan P. Steiner Ray Balentine John E. McKee Landon Whitton R. Neal Rich Dax Alexander, Ben Smith Charles S. Parker, R. Allen Scott, Tim Parker Greg Gearhart, Bill Owen, Mike McKenzie Paul Koshenina Robert L. Calvert, Stanley J. Spradling Brian R. Derry David Machado, Brad Patano, Gerrod Kilpatrick Jerry Leonard Jones, Gary J. Rogers Lawrence R. Clark, Jeff Graves, Daniel Russum

FC&E Engineering, LLC, 917 Marquette Road, Brandon, MS 39042 601-824-1860 fce-engineering.com 2004 Terracon Consultants Inc., 859 Pear Orchard Rd., Ridgeland, MS 39157 601-956-4467 terracon.com 1965 Michael Baker International, 310 New Pointe Dr, Ridgeland, MS 39157 13 601-607-8700 mbakerintl.com 1972 Stantec Consulting Services, 200 N. Congress, #600, Jackson, MS 39216 601-354-0696 stantec.com 2005 AECOM, 111 E Capitol St #400, Jackson, MS 39201 15 601-718-4711 aecom.com 1990 ASSET Engineering, 153 E. Center St, Canton, MS 39046 601-351-3270 assetcompany.com 2000 Brown, Mitchell & Alexander Inc., 401 Cowan Rd, Ste A, Gulfport, MS 39507 228-864-7612 bmaengineers.com 1967 Engineering Service, 115 Aerosmith Dr., Richland, MS 39218 601-939-8737 engservice.com 1946 WGK Inc. Engineers & Surveyors, 204 W. Leake St., Clinton, MS 39056 601-925-4444 wgkengineers.com 1991 Precision Engineering Corporation, 276 C.R. 101, Oxford, MS 38655 20 662-234-8539 pecorpms.com 1976 Calvert-Spradling Engineers, Drawer 1078, West Point, MS 39773 21 662-494-7101 1976 EnSafe Inc., 101 W. Washington St., Suite C5, Ridgeland, MS 39157 601-981-4880 ensafe.com 1980 Machado Patano, PLLC , 918 Howard Ave, Ste F, Biloxi, MS 39530 228-388-1950 mpeng.us 2007 Advanced Engineering Resources, Inc., 120 Solleftea Dr., Madison, MS 39110 24 601-427-5003 a-e-r.com 1996 Chas. N. Clark Associates, Ltd., 714 Hillcrest Drive, Laurel, MS 39440 601-649-5900 clarkengineers.com 1946 Cypress Environment & Infrastructure, 906 DeSoto St., Ocean Springs, MS 228-596-1580 cypress-environmental.com 2010 39564 Elliott & Britt Engineering, P.A., 823 N. Lamar Blvd., Oxford, MS 38655 662-234-1763 elliottbritt.com 1973 SEMS, Inc., 160 Upton Dr., Jackson, MS 39209 601-922-0766 semsinc.net 1995 Information provided by company representatives and MBJ research. Direct questions to frank.brown@msbusiness.com. 11

Engineers 88 22 20 20 20 19 18 15 14 13 12 12 10 10 8 8 8 8 8 6 5 5 5 4 4

Cynthia Henderson, Marc Foster

Larry L Britt, Kevin W McLeod E. Corbin McGriff, Brian Smith

4 4

Mississippi will see big investment in EV infrastructure

BY LYNN LOFTON

ississippi has, per capita, the lowest number of electric cars registered of any state, according to U.S. Census and Department of Energy data, while the number of people driving electric vehicles is growing throughout the nation. The state’s scarcity may be partly due to the small number of charging stations. That can change with funds from the federal Infrastructure Investment and Jobs Act. One portion of the act seeks to build a network of EV chargers to facilitate long-distance travel and provide convenient charging options. The bill invests $7.5 billion to build out the first-ever national network of EV chargers in the United States. Mississippi can expect to receive $51 million over five years to support the expansion of an EV charging network in the state. TURN TO EV, 19

ROGELIO V. SOLIS I AP

Mississippi Gov. Tate Reeves speaks to reporters about how Nissan’s Canton Vehicle Assembly Plant’s development into a center for electric vehicle manufacturing in the United States and the manufacturing of two all-new electric models at the plant in Canton, Miss., will help spur continued economic development in the state, Thursday, Feb. 17, 2022.

March 2022 Issue

Mississippi Business Journal

Architects and Engineering CDFL FROM 17

done over the years, there are some that the firm takes particular pride. “I think we have a few for sure,” Watkins said. “The hospital addition at UMC, the two Mississippi Museums, the football stadium for South Alabama in Mobile ... we’ve been very blessed to

have been able to work on some really high-profile projects over the years. “The Children’s Hospital and the two museums really changed and furthered the culture of Mississippi, and I would say the planetarium, when it’s complete, will be one of those projects that really furthers the state.” And for future architects, Watkins said it was a noble profession that can be difficult occasionally and also be time consuming. But the payoff is

Japanese car manufacturer Nissan announced it will spend half a billion FROM 18 dollars to upgrade its facility and workforce at its Canton plant with Mississippi will also have the opthe goal of building two new all-elecportunity to apply for the $2.5 billion tric models by 2025. The Mississipin grant funding dedicated to EV pi Development Authority is also charging in the bill. spending $50 million through grants Currently the state has charging on the project for building improvestations in Columbus, Greenville , ments, installing new equipment and Greenwood, Grenada, Gulfport, Jack- training 2,000 of the 5,000 workers at son, John C. Stennis Space Center, the plant. Kiln, Meridian, Natchez, Oxford, Pas“A notable feature of today’s eleccagoula, Pearl, Picayune, Southhavtric vehicle is the ability to charge en, Starkville, Tupelo and Vicksburg. the vehicle on a standard 120-volt Mississippi Power supports a trend outlet, which every home has,” that reduces carbon emissions and Pegoda said. “While consumers have is helping to revolutionize personal the option of purchasing chargers for transportation. quicker home fueling, they can also “Electric cars have soared in utilize the growing system of public popularity in the last few years. Auto charging stations. Right now, there manufacturers are more supportive are more than 275 public chargers of the technology today because of in Mississippi with more than 100 of heightened consumer interest, enthose in Mississippi Power’s service vironmental mandates for automoterritory.” biles and federal funding to support She said the company expects to electric transportation,” said Market- see more Mississippi residents make ing Team Leader Rose Ann Pegoda. the switch to electric vehicles as the “There are already dozens of models infrastructure continues to develop, of electric cars on the market, and we which will improve potential cusexpect to see hundreds more in the tomers’ range anxiety. Range anxiety coming years including an increase refers to a driver’s fear of running in electric trucks and SUVS.” out of power before reaching their

Good News is worth repeating Framed Article

Articles are reformatted to ﬁt on either one or two pages with Mississippi Business Journal masthead on the top of the page. Article size is 8.5” x 11”. Framed articles take approximately one month to complete.

digital reprint

Article or list will be reformatted with Mississippi Business Journal masthead on the top of the page and be provided in PDF format.

WAYS TO ORDER

Frame size 14” x 16.5” $199

Frame size 23” x 16.5” $250

Call: 601-364-1044 Fax: 601-364-1007 Fax or mail: Mississippi Business Journal Attn: Marcia Thompson 132 Riverview Dr., Ste E, Flowood, MS 39232 Email: marcia.kelly@msbusiness.com

Plaque 9” x 12” or 8” x 10” - $199

immeasurable. “There’s nothing that really compares to being able to stand out in front of the Children’s Hospital and know you helped bring that to life, a place where kids in Mississippi for generations can get life-saving care,” he said. “I was able to work on that, and I didn’t have to go to medical school. It just gives me a lot of pride to help create that. And it was a long two or three years to be sure.”

Myers said he wasn’t sure what architects did when he decided to become one, but discovered the opportunities are quite diverse. “You can go anywhere from community planning to residential architecture,” he said. “We have the ability in our profession to shape the culture and help shape the community. I tell students that they have to take this training and make their community better.

destination or the nearest charging station to replenish their battery. “Mississippi Power is committed to working alongside our community partners to integrate more electric transportation technology into the communities we serve,” Pegoda said. “In February, Mississippi Power partnered with the Hattiesburg Zoo to unveil an all-electric train attraction for its guests. Currently, we’re working with Coast Transit Authority to debut the state’s first all-electric public transit bus that will serve residents on the Gulf Coast.” Mississippi Power is also encour-

aging the adoption of EVs by offering residential and commercial incentives. “Customers can take advantage of rebates for a personal vehicle or charger, commercial EV charger installations and electric forklifts,” Pegoda added. “Mississippi Power believes in the future of electric vehicles. Staying abreast of the latest technological advancements is essential to our success, and Mississippi Power is at the forefront of the research and development of new technologies and clean energy solutions to meet our customers’ future energy needs.”

20 n

Mississippi Business Journal

March 2022 Issue

Agri Business/Made In Mississippi

Last few years have been a ‘wild roller coaster ride’ for Oxford gelato entrepreneur

BY LISA MONTI

ugh Balthrop, former gallery owner turned gelato entrepreneur, has seen a lot of ups and downs since starting Sweet Magnolia Gelato Co. in 2011. The business started as a home-based venture and is now based in Oxford, making and selling gelato and sorbet to retail and wholesale customers. Balthrop owned and operated an art gallery in his native Washington, D.C., before moving in 2000 to the Mississippi Delta with his wife Erica, who grew up here. He started his gelato-making at home in Clarksdale before moving into the local Chamber of Commerce’s business incubator. He learned to make the sweet treats from a gelato master and purchased authentic equipment from Italy. Three years ago, he and his family moved to Oxford, drawn by the top-notch school system and a surprise phone call that helped seal the deal. “We put on social media that we were looking for space, and the (Oxford) mayor picked up the phone and reached out to us,” he said. “That made us feel special.” In Oxford, Sweet Magnolia Gelato shared a manufacturing facility owned by No Time 2 Cook, a major frozen food business started by Karen Kurr in 2005. Her Southern and Cajun meals now are sold in hundreds of retailers including Kroger and Walmart. “It was good to be under sort of a mentorship and see how they get their products to market,” Balthrop said. The building is now up for sale, and Balthrop is looking for a new facility to make his

small batch artisan gelato and other frozen products at a rate of up to 500 pints a day. “We make everything by hand,” he said. “It’s what makes our company different. And we source all of our products locally. We have only used local farmers since day one for our ingredients.” Milk and cream come from grass-fed cows, local honey is harvested by hand, and fruits and herbs that go into the products are fresh. Sweet Magnolia’s customers include coffee shops, grocery stores and restaurants, including some of the top eateries in Mississippi and Memphis. “We make specific, customized flavors of gelato and sorbet for chefs. If someone wants gelato with horseradish in it, we’ll make it,” Balthrop said. He said he’s created more than 500 flavors, including Buttered Pecan, Honey Vanilla, Espresso and Banana Pudding. At one point Sweet Magnolia was in 15 Whole Foods stores, but when Amazon bought the grocery chain the number went down to one store selling the gelato. “After that, I took control of our destiny and decided to open a retail location,” Balthrop said. That first store in a food hall setting in Memphis was successful, but the venue shut down because of COVID-19. “We had to reset,” he said. Sweet Magnolia now has a retail shop on the Square in Oxford and will open another location in Memphis in April. The products also are sold on Goldbelly, an online marketplace specializing in regional and artisanal foods made by local food purveyors throughout the country.

Sweet Magnolia Gelato Co. has a store on the Square in Oxford. “We shipped 100 cases right before Christmas,” he said. “It’s a good partnership.” Balthrop said sales on the Square go up with Ole Miss sporting events and down when students leave for the summer or holiday breaks. After a year, he said, “We’re still trying to figure it out.” And then there is the pandemic, which shut down some of his customers and suppliers. “We particularly lost a lot of traction with COVID the last couple of years. It’s been tough on small businesses as you can imagine.” The company has six employees, including three at the store. “It’s been very challenging trying to find folks to work. Everybody in the industry is having problems.” On social media, Balthrop TURN TO GELATO, 23

Hugh Balthrop is a former art gallery owner from Washington D.C. who moved to the Delta with his wife, a Mississippi native. In 2011, he started Sweet Magnolia Gelato Co., which today is based in Oxford.

March 2022 Issue

Mississippi Business Journal

Manufacturers and Producers

Manufacturers and Producers Rank 1 2 3 4 5

8 9 10 11

13 14

18 19 20

22 23 24 25

27 28

Company Address

Telephone Website

Top Officer Founded

Products

Huntington Ingalls Industries 1000 Jerry St. Pe Hwy, Pascagoula, MS 39568 Sanderson Farms, Inc. 127 Flynt Rd., Laurel, MS 39443 Nissan North America - Canton Vehicle Assembly Plant 300 Nissan Dr., Canton, MS 39046 Howard Industries Inc. 3225 Pendorff Rd., Laurel, MS 39440 Peco Foods 95 Commerce Dr., Bay Springs, MS 39422 Cal-Maine Foods, Inc. 1052 Highland Colony Parkway Suite 200, Ridgeland, MS 39157 Tyson Foods Inc. 3865 Old Hwy. 35, Carthage, MS 39051 Koch Foods 1080 River Oaks Dr. A100, Flowood, MS 39232 Milwaukee Tool 1003 Sycamore Ave, Greenwood, MS 38930 Ashley Furniture Industries 447 Hwy. 346, Ecru, MS 38841 Lane Home Furnishings 5380 Hwy 145 South, Tupelo, MS 38801 Toyota Motor Manufacturing, Mississippi, Inc. 1200 Magnolia Way, Blue Springs, MS 38828 Chevron Pascagoula Refinery 250 Industrial Rd., Pascagoula, MS 39581 Georgia-Pacific LLC 604 N.A. Sandifer Rd., Monticello, MS 30303 Cooper Tire & Rubber Company 1689 S. Green St., Tupelo, MS 38802 Olin Winchester, LLC 33 County Road 166, Oxford, MS 38655 Southern Motion Inc 298 Henry Southern Drive, Pontotoc, MS 38863 Caterpillar Inc. 501 Cardinal Dr., Corinth, MS 38834 Franklin Corporation 600 Franklin Dr., Houston, MS 38851 H.M. Richards 414 CR 2790, Baldwyn, MS 38824 Modine Manufacturing Co. 3984 Hwy. 51 S., Grenada, MS 38901 Taylor Machine Works Inc. 3960 N. Church Ave., Louisville, MS 39339 Halter Marine 900 Bayou Casotte Parkway, Pascagoula, MS 39581 Steel Dynamics 1945 Airport Rd., Columbus, MS 39701 Viking Range, LLC 111 Front St, Greenwood, MS 38930 Mar-Jac Poultry 1301 James St., Hattiesburg, MS 39401 Yokohama Tire Manufacturing Mississippi, LLC 1 Yokohama Blvd., West Point, MS 39773 Advanced Distributor Products 1995 Air Industrial Park Rd., Grenada, MS 38901 Marelli 355 Nissan Way, Canton, MS 39046

228-935-1122 huntingtoningalls.com

Kari Wilkinson 1938

U.S. Navy and U.S. Coast Guard ships

601-649-4030 sandersonfarms.com

Joe F. Sanderson 1947

Poultry processing

5,940

601-855-6000 nissanusa.com

David Sliger 2003

Altima, Frontier, TITAN, TITAN XD

5,000

601-425-3151 howard.com

Billy W. Howard 1968

Distribution & Power Transformers; Lighting Products; Technology Products, Medical Carts, Kiosks.

4,000

601-764-4392 pecofoods.com

Mark Hickman 1968

Poultry processing, 7 plants in Mississippi

601-948-6813 calmainefoods.com

Dolph Baker 1969

Eggs

3,500

601-298-5300 tyson.com

Donnie King 1948

Poultry processing

3,500

601-732-8911 kochfoods.com

2001

Poultry

662-451-5545 milwaukeetool.com

Jack Bilotta

Power and hand tools; facilities also in Olive Branch and Jackson

2,400

662-489-5655 ashleyfurniture.com

1945

Upholstered furniture; commercial & industrial furniture; workstations & office packages.

2,2501

662-447-4000 LaneFurniture.com

Mike Watson 2000

Furniture maker

2,000

662-317-3000 toyota.com

David Fernandes 2007

Vehicle production Toyota Corolla

2,000

228-938-4600 chevronpascagoula.com

Tim Potter 1963

Petroleum refining

1,680

404-652-4000 gp.com

1927

Kraft linerboard; other facilities in Taylorsville, New Augusta, Pelahatchie, Bay Springs, Hattiesburg

1,5001

662-842-2200 coopertire.com

1984

Tires

1,5001

662-513-2002 olin.com

Mike E. Stock 2004

Winchester rimfire operations; Centerfire and Military Packaging operations

1,500

662-488-4007 southernmotion.com

Mark Weber 1996

Furniture

1,500

662-286-5511 caterpillar.com

Jeff Belcher 1925

Re-manufactured engines, parts and accessories

1,300

662-456-4286 franklincorp.com

Hassell H. Franklin 1970

Upholstered furniture

1,100

662-365-9485 hmrichards.com

Joey Tarrant 1997

Upholstered furniture

1,0001

662-229-2000 modinecoils.com

Neil Brinker, Miles Moore 1955

Heating transfer products

1,0001

662-773-3421 taylorbigred.com

W.A. "Lex" Taylor, III 1927

Industrial lift trucks and Material Handling Equipment

980

228-696-6888 vthaltermarine.com

Bob Merchent 1951

Shipbuilding and repair

950

662-245-4200 steeldynamics.com

Dan Keown 2005

Steel

8501

662-455-1200 vikingrange.com

Kevin Brown 1984

High-end kitchen appliances

7501

601-544-3141 marjacpoultry.com

Joe Colee 1935

Fresh and frozen poultry

750

800-423-4544 yokohamatire.com

Takehisa Morimoto 2013

Truck and Bus Tires

702

662-229-3000 adpnow.com

1992

Equipment for HVAC market

The Vertex Company 555 Industrial Dr. S., Madison, MS 39110

601-856-2274 vtxco.com

601-855-2132 calsonic.com

Climate Control, cockpit modules, distribution John "Ed" Boyington 1975

Aircraft maintenance, engineering, minor and major aircraft assembly and overhaul, systems integration, and logistics solutions

Hunter Engineering Co. 662-653-3194 1976 Wheel alignment, balancing, tire changers, service equipment hunter.com 33814 Hunter Blvd., Durant, MS 39063 Continental Tires Ryal Siem continental-corporation.com Truck Tire Manufacturer 2019 3000 Continental Parkway, Clinton, MS 39056 Hol-Mac Corporation 601-764-4121 Jamie V. Holder Steel fabrications, cylinders, off-road bumpers, recycle and 33 hol-mac.com 1963 refuse products, forklifts and tanks P.O. Box 349, Bay Springs, MS 39422 ACCO Brands 662-480-3400 School, office and consumer products maker and print 34 2005 accobrands.com finishing solutions. 300 Quartet Ave, Booneville, MS 38829 Baxter Healthcare Corporation 662-843-9421 Betsy Aguzzi 35 Medical device manufacturer baxter.com 1949 911 N. Davis Ave., Cleveland, MS 38732 PACCAR 662-329-6700 2010 Engine assembly paccar.com 1000 Paccar Dr, Columbus, MS 39701 Eaton 601-981-2811 Breck Stringer, Mauro Pino 37 Hydraulic pumps for aerospace eaton.com/aerospace 1911 5353 Highland Dr., Jackson, MS 39206 Fusion Furniture 662-489-1296 Mark Weber 38 Furniture maker fusionfurnitureinc.com 2009 957 Pontotoc County Industrial Park Rd, Ecru, MS 38841 Consolidated Catfish Producers, LLC 662-962-3101 Richard Stevens Farm raised catfish/Country Select and Delta Pride deltapride.com 1967 299 South St., Isola, MS 38754 Data from businesses, economic development agencies and MBJ research. Ranked by employees. Direct questions to frank.brown@msbusiness.com. 1 MBJ estimate 31

Mississippi Employees 11,000

3,5001

3,0001

7001 700 7001 6501 650 6001 5251 520 5201 515 500 500

22 n

Mississippi Business Journal

March 2022 Issue

Agri Business/Made In Mississippi

Genuine MS showcases the state’s products on a global scale

BY LISA MONTI

The Genuine MS store is located at the Mississippi Farmers Market on the state fairgrounds

Wise Counsel. Proven Advocacy. Real Solutions. TAGGART, RIMES & WIGGINS, PLLC IS PLEASED TO ANNOUNCE THAT

Cherie Rivera Wade HAS JOINED THE FIRM

hrough the Mississippi Department of Agriculture and Commerce’s Genuine MS program, products grown, raised, crafted and made in the state are finding buyers all over the world. Shoppers browsing the website will find everything from tea to timber, watermelons to wildflowers and citrus to Christmas trees. The impressive variety offered by the state’s farmers, crafters and entrepreneurs is on display across social media. Genuine MS is attracting a growing number of members and customers, and Agriculture Commissioner Andy Gipson says that soon there will be more ways to find and buy those sought-after Mississippi items. The Agriculture Department’s marketing team got to work developing the Genuine MS guidelines, membership qualifications and branding in 2015, and the website was officially launched in July 2018, the year Gipson became commissioner. “We have had a lot of good success,” he said, adding that while COVID-19 interrupted commerce everywhere, the pandemic brought more people to shop online. And as word about Genuine MS spreads among communities across the state, more members are signing up.

There are approximately 250 Genuine MS members, including 40 published associate members, and Gipson said “it’s growing in every corner of the state.” The only criteria is the products sold must be raised, grown or crafted in Mississippi. There’s an annual $75 fee to cover marketing and social media support to help spread the word with a podcast and posts on Facebook, Twitter and Instagram. “People are becoming aware of Genuine MS, and say they love it. And our members are seeing the results of it, too,” Gipson said. “In some cases our members are able to do business deals with other members.” He said two coffee company owners met through the program and worked out a deal for one to grind coffee beans and the other to sell the product. “It’s another example of how the program has grown, and I expect it will continue,” Gipson said. Genuine MS products fall into four main categories. 1. Grown products include grains, horticulture, nuts and produce. 2. Raised products include meat, seafood, dairy, bees and honey, livestock, poultry and eggs. 3. The largest category is crafts, which include specialty foods, artisan TURN TO GENUINE, 25

After serving as a prosecutor for thirteen years, Cherie joins the ﬁrm of Taggart, Rimes & Wiggins, PLLC. She will handle general litigation and criminal defense matters. Cherie received her J.D. from Mississippi College School of Law and a Bachelor of Science degree in Business Management from Louisiana State University.

619 Delmas Avenue | Pascagoula, MS 39567 Tel: 228-205-3921 | www.trwlawyers.com

The Genuine MS program began in 2018 and has grown to include approximately 250 members across the state.

March 2022 Issue

Mississippi Business Journal

Agri Business/Made In Mississippi Gelato FROM 20

recently offered a cautionary public service announcement based on his own experiences during the pandemic. “With owning your own business you have to make tough decisions, there’s just no way around it,” he wrote. “The last couple of years has been a wild roller coaster ride, to say the least.” He said “significant price increases across the board” forced him to raise prices. “Just know that we have always been committed to bringing you the best frozen desserts on the market and this will never change,” he wrote. “ We support our local economy and community by supporting our local farmers, farmer’s markets and other local purveyors and employing folks from our community. We appreciate your support and understanding.” Balthrop wants to educate consumers about why his products cost more than mass-produced frozen products. “I always say our competitor is not small batch ice cream companies It’s really the big brands out there. We always have to figure out how to cut costs and that’s extremely difficult.” Sugar is bought in bulk, but prices remain high. Milk went up 25% overnight, and even the price of serving cups has shot up. “We need consumers to know that we deal with local farmers and we know where our ingredients come from. We need folks to understand our brand is totally different from others.” His plans include growing Sweet Magnolia

Erica Balthrop and her husband started Sweet Magnolia Gelato Co. in 2011. Sweet Magnolia Gelato Co., based in Oxford, makes artisan gelato.

Bank Of Okolona Okolona P.O. Box 306 • Okolona, Mississippi 38860 (662) 447-5403 Bank of Mantee 54 1st Street • Mantee, Mississippi 39751 (662) 456-5341

nationally. “The plan was always to expand and getting in more national grocery chains.” The one thing that has surprised Balthrop the most in Sweet Magnolia’s operation is the love and support from the community. “I’m always humbled

by all the comments on social media and the genuine support we get. We just love that,” he said. “We are in the happiness business. It’s not about race or politics, it’s about making good products and seeing people really enjoy our products.”

Houston Banking Center 321 W. Madison St. • Houston, Mississippi (662) 456-3347 Calhoun Banking Center 122 S. Pontotoc Rd. • Bruce, Mississippi (662) 983-3700

www.bankofokolona.com

24 n

Mississippi Business Journal

March 2022 Issue

“NORTH MISSISSIPPI’S COMMERCIAL REAL ESTATE COMPANY” CLAY SHORT

(662) 231-4262

cshort@trirealestate.net

BARRY REPLOGLE

(662) 321-1201

breplogle@trirealestate.net

CHRIS WINDERS

(662) 255-4404

chris@trirealestate.net

TRI INC. COMMERCIAL | WW.TRIREALESTATE.NET | 662-842-8283

March 2022 Issue

Mississippi Business Journal

Agri Business/Made In Mississippi Genuine FROM 22

products and pet food and items. 4. The made category covers flags, bottling, farm supplies and leather goods. In every category, shoppers can find something unexpected. “Most people don’t realize that Mississippi is the sixth largest peanut producer in America,” Gipson said. “There are a lot of undiscovered secrets on the website.” One of the first to sign up as a Genuine MS member was Jaclyn Rogers of Honestly Beef in Collins who said she “jumped on the bandwagon” as soon as the state program started. “I knew it was good advertising but it’s better than I thought it would be,” she said. “When you’re working for yourself, you’ve got to work all the different areas” to promote the business.” Rogers uses the Genuine MS logo on her product label and said it catches the eye of consumers. “People have seen that little bitty logo and said they are proud to know where the product comes from,” Rogers said. She isn’t just a member, she’s also a consumer. She recently traveled more than five hours to tour Queen’s Reward Meadery in Tupelo, and last

year she did all of her Christmas shopping on the Genuine MS website. Rogers credits Gipson for building the program. “Commissioner Gipson is passionate about it and really appreciates Mississippi products. He wants business to come to the state,” she said. To foster more recognition and revenue for state businesses through Genuine MS, the Agriculture Department created a popup store for the 2020 Mississippi State Fair Expo and the public’s response exceeded exceptions. The popup is also set up for the annual State Fair and Dixie National Livestock Show and Rodeo. The success of the popup led to the decision to establish a permanent store inside the Mississippi Farmers Market on the state fairgrounds in Jackson. The store carries more than 200 products from some 40 Genuine MS members. Now Gipson said his department is working on expanding the Genuine MS program by launching an online store this year and working with small grocery chains to have special sections to showcase and sell Mississippi products. “What I’m hearing, especially since the pandemic, is that it is difficult to get some products, and people want to know where their food is coming from,” he said.

The Genuine MS program focuses on products that are raised, grown, crafted or made in Mississippi. The Department of Agriculture opened a physical store at the Mississippi Farmers Market.

CREATE

Northeast Mississippi’s Community Foundation

1972-2022 The oldest and largest community foundation in Mississippi.

Where Legacies Live Forever At CREATE, we believe the future of our region is directly tied to enhancing the ability of our people to pursue their goals and aspirations. We encourage you to explore the many ways the CREATE Foundation can help you accomplish your charitable giving. The Mississippi Department of Agriculture is working on creating an online store for Genuine MS merchants to accompany the physical store at the Mississippi Farmers Market in 662-844-8989 | www.createfoundation.com Jackson.

26 n

Mississippi Business Journal

March 2022 Issue

Today’s market calls for a financial team you can rely on. Working with a dedicated team driven by a shared vision can make all the difference. Regions Commercial Relationship Managers know that developing a strong understanding of your business and its unique operations helps us provide highly responsive, personalized solutions. Let us leverage our capabilities and create a comprehensive financial strategy to help guide and strengthen your business. Commercial Banking | Treasury Management | Capital Markets Specialized Industries Robert Leard Mississippi Commercial Banking Executive 601.790.8397 | robert.leard@regions.com regions.com/commercial-banking

© 2022 Regions Bank. Banking products provided by Regions Bank. Only banking deposit products are FDIC insured. All loans and lines subject to credit approval. | Regions and the Regions logo are registered trademarks of Regions Bank. The LifeGreen color is a trademark of Regions Bank.

March 2022 Issue

Mississippi Business Journal

Painless – even fun – ways to learn about money BY LIZ WESTON NERDWALLET

verywhere you look, somebody’s willing to give – or sell – you financial advice. In all likelihood, there’s a podcast, video or book that will provide you with some accurate information and/or informed opinions. There are also plenty that will steer you wrong – and following the wrong advice can wreck your finances. Here’s how to separate the hucksters from the experts on your favorite media platforms and a few recommendations of financial experts whose advice is worth considering. The online landscape is littered with horrible personal finance advice: teenagers promoting day trading strategies, “influencers” flogging questionable investment schemes and people with dubious credentials insisting you shouldn’t invest in a 401(k). Outrageous statements and flashy graphics grab attention, but there’s also plenty of sound, factually correct money content out there – and some of it is even entertaining. So if you want to learn more about managing your finances while having at least a little fun, here are some ways to go about it.

Audio worth listening to

With podcasts, you have a wealth of options (sorry, I couldn’t resist). One to try is “Stacking Benjamins ,” which a Fast Company article accurately describes as striking “a great balance of fun and functional.” Former financial advisor Joe Saul-Sehy and certified financial planner Josh Bannerman mix news, banter and education with the help of regular contributors Paula Pant and Len Penzo, plus a wide variety of guests. (Full disclosure: I’ve been a guest on “Stacking Benjamins,” among other podcasts, and I co-host “NerdWallet’s Smart Money Podcast.”) Also, check out two public radio pod-

SHUTTERSTOCK

The online landscape is littered with horrible personal finance advice, but there’s also plenty of sound, factually correct money content out there – and some of it is even entertaining. casts: “Planet Money,” which explains how the economy works, and “This Is Uncomfortable,” which describes itself as a podcast about life and how money messes with it. Public radio isn’t known for being a laugh a minute, but high production values and good storytelling will keep you engaged. If you like learning by listening, the social media app Clubhouse also might be worth exploring. This voice-only app allows you to listen and often participate in live conversations about a seemingly infinite number of topics. Consider starting with the Personal Finance Club. (Clubhouse started as invitation-only, but now is open to all.) Of course, as with all social media, proceed with caution. Having a lot of followers doesn’t mean someone is credible, honest or knowledgeable. Plenty of people pose as experts without the credentials or experience to actually be one. No one is required to disclose conflicts of interest, and your default assumption should be that what you’re hearing or seeing may not be in your best interest. Information or advice shared on social media is not customized to your unique circumstances, says CFP Lazetta

Commercial Construction Public Structures Church Construction/Renovation Multifamily Construction Renovations Office Remodel & Renovations

Roberts Builders Inc. The preferred authority in commercial construction Mississippi clients trust. Founded in 1978

Call 662-837-7835 | robertsbuildersinc.com

Rainey Braxton of Brooklyn, New York. Research the ideas to ensure they make sense for your situation, and consider consulting an appropriate expert such as a tax pro, CFP or attorney, Braxton says.

especially if you’re new to investing. Also, be skeptical of creators who aren’t transparent about their financial situations or strategies, says Nashville-based CFP Jeff Rose, a blogger at “Good Financial Cents,” who has hosted the Wealth Hacker channel on YouTube since 2011. Many people claim to have spectacular financial success but are really trying to lure you into buying courses or other products that make money for them and are not in your best interest. That’s especially true on TikTok, where videos often last mere seconds , and bold claims about instant wealth seem to be the norm. Even here, though, some people are creating substantive, entertaining money content. Two to check out include Humphrey Yang (@ humphreytalks) and Delyanne Barros (@ delyannethemoneycoach).

Kick it old school

If books are your bag, you won’t have to caffeinate yourself to get through Suppose you’re more of a visual the following personal finance tomes learner. In that case, you’ll find many that lace their education with plenty of credentialed experts to follow on Instahumor: gram, including CFP Brittney Castro and ● “Stacked: Your Super-Serious Guide certified financial education instructor to Modern Money Management,” by Bola Sokunbiof “Clever Girl Finance.” “Stacking Benjamins” host Saul-Sehy But for sheer fun, it’s hard to beat Berna and co-author Emily Guy Birken. Anat, also known as “Hey Berna,” a fi● “Bad With Money: The Imperfect Art nancial educator whose professed goal is of Getting Your Financial Sh(asterisk) to make “financial literacy more funny, t Together,” by comedian and LGBTQ more accessible and more Brown for activist Gaby Dunn. young people everywhere.” ● Any of the three books by Erin Lowry Anat and several other worthy Insta, including “Broke Millennial,” “Broke gram creators such as “The Financial Millennial Takes On Investing” and Diet” and “His and Her Money” are also “Broke Millennial Talks Money.” on YouTube – along with a bunch of One final recommendation: “The finance and investing channels spouting Richest Man in Babylon,” by George S. sketchy advice (often interrupted by Clason. This slender book of parables even sketchier commercials). isn’t funny, but it is entertaining, an easy Be wary of creators who pretend read and amazingly relevant nearly 100 that making vast sums is easy or who years after its first publication. promote risky strategies, such as options The ways we learn about money may trading or borrowing money to buy change dramatically, but much of the volatile assets such as cryptocurrency, best personal finance advice doesn’t.

What to watch

LUNCH SPECIAL

Mini 1-topping Pizza Salad & Tea for only $5.40

365-7059

• Pizza Spaghetti • Salad Bar • Sandwich 709 S 4th St. • Baldwyn, MS • We Can Accommodate Mon.-Thurs. 11-10 • Fri.-Sat. 11-11 • Sun. 12-10 Large Groups

28 n

Mississippi Business Journal

March 2022 Issue

North Mississippi

A PA RT M E N T H O M E S

(662) 891-5000 4348 NORTH GLOSTER ST. TUPELO

Whether You’re Hauling or Delivering, Call Dwayne Blackmon Chevrolet for Your Commercial Vehicle Needs!

Dwayne

Blackmon

1410 SOUTH GLOSTER / TUPELO / 662-842-3611

662-534-4448

903 VARSITY DR. I TUPELO, MS I 662-842-1292 staggsinteriors.com I MONDAY - FRIDAY 9:00am - 5:00pm

Real Estate

224 STARLYN AVENUE NEW ALBANY, MS

• FINE FURNITURE • FABRICS • FLOORING

R ROO E L FIN EE G H W

www.fmbms.com

RES

Residential • Commercial • Industrial FREE ESTIMATES

Licensed and Insured 411 CLARK ST. ❖ TUPELO ❖ 844-4481

PONTOTOC RIDGE REALTY, INC. 49 S. Main St. | Pontotoc, MS | 662-489-2848

www.pontotocridgerealty.com

Achieve greater network performance with less.

Technology

1101 West Main - Tupelo 662-842-3774

Rooﬁng

Restaurant

“A FAMILY BUSINESS SINCE 1946”

Waste Removal

www.nemc.edu .nemc.edu

Measurable Cleaning. Guaranteed Results.®

Furniture

Commercial Cleaning

Apartments

TRACE RIDGE

Banking

AFFORDABLE LUXURY

Automotive Commercial

Business Directory

398 East Main Street • Tupelo, MS CDF Building • 2nd Floor • 662-821-2500 • www.circadence.com

TO PLACE YOUR AD HERE CALL

Teresa McDonald • 662-678-1531

1-888-893-2830 Ofﬁce: 662-837-4087 Fax: 662-837-9564 1041 CR 549 • P.O. Box 598 • Ripley, MS 38863

A LOCALLY OWNED NEWSPAPER DEDICATED TO THE SERVICE OF GOD AND MANKIND.