In the past three to five years, approximately $40 million has been invested in downtown Vicksburg, according to Vicksburg Main Street chairman Daryl Hollingsworth.
During a meeting of the Board of Mayor and Aldermen Thursday to approve renewal of downtown’s taxing district, Hollingsworth connected that growth to the main street program, which the tax funds, by reminding the board of Vicksburg Main Street’s mission: “to encourage and promote the economic growth and welfare of the community through planning, beautification and preservation of our central business district, thus providing a competitive local and regional business area while serving our growing tourism industry.”
The board unanimously approved the 5.05 mil downtown property tax—the same as last year—placed on commercial properties stretching from Bridge Street to First East Street, which Hollingsworth said is expected to raise approximately $43,710 during the next fiscal year to cover salaries, operating costs and the costs of promoting businesses in the area that the program accrues.
The $40 million invested in downtown includes $28 million from private entities, including the opening and/or renovation of Carr Central Apartments, The Lofts at First National, 10 South Rooftop Bar and Grill, The Mad Baker, The Wine House and the addition of numerous apartments.
“In the past, the downtown was dying and in the past 10 years, we’ve been building apartments, increasing the number of people living there,” he said of the private investments after the meeting. “Before, when you came downtown, you didn’t see people besides some shoppers and store owners, now you see people who live here. You see people walking dogs and you never saw that before.”
The remaining $12 came from city investments, including parking garages and a new roof for the Vicksburg Convention Center, he said.
Hollingsworth also noted 16 new businesses have opened within the last year, creating 125 new jobs and bringing the downtown business count to 203. The downtown district has 398 apartments, he added, with approximately 750 people living down town.
“If we can ever make it to 2,000 people (living downtown), it will create its own micro-economy and be able to sustain itself,” he said.