As a subsidiary of Trustmark National Bank, Southern Community Capital (SCC) looks to continue Trustmark's successful track record of deploying capital into projects that serve distressed communities.
The projects listed utilized an NMTC allocation from SCC, along with an equity investment from Trustmark.
The Outlets of Mississippi - Pearl, MS
SCC made a $5 million NMTC investment into the Outlets of Mississippi, facilitating the creation of an estimated 830 direct and 394 indirect jobs.
Baptist Medical Center - Carthage, MS
A $7 million investment from SCC helped launch a $28 million expansion project for Baptist Medical Center - Leake. The 62,520 square-foot facility increased access to a wider array of healthcare services for the 4,600 residents of rural Carthage and 23,800 people living in surrounding counties. The NMTC financing keeps open the only Level One Trauma Center within 60 miles, savings dozens of lives annually.
Field Memorial Community Hospital - Centreville, MS
SCC made a $7.5 million investment to complete financing for a $22 million expansion project for rural Field Memorial Community Hospital, whose 62,000 square-foot facility increased the availability of high quality healthcare. The hospital is one of the region’s top five employers but was struggling to break-even in an inefficient and antiquated facility. The NMTC financing enabled Field Memorial to build a new, state-of-the-art hospital that is self-sufficient, creating and preserving 287 permanent jobs and 151 construction jobs.
Waterfront Rescue Mission - Mobile, AL
With a $7.5 million investment from SCC, the Waterfront Rescue Mission undertook a major expansion project. The Mission is a provider of housing and social services for the homeless. The new facility almost doubled bed capacity from 62 to 120 and greatly increased access to job training, healthcare, and educational programs for over 3,000 low-income people annually.
Mississippi Silicon - Burnsville, MS
Mississippi Silicon is a technologically-advanced silicon metal production facility located in Burnsville, MS. MS Silicon was provided a $7 million allocation by SCC. MS Silicon is expected to create 200 jobs for an area with an unemployment rate of approximately 14%.
Vowell's Marketplace - Natchez, MS
Vowell Cash Saver has begun construction of a 45,000 square-foot supermarket located in a rural food desert in Natchez, MS. SCC's $6 million investment will help bring healthy food options to this underserved community and create an estimated 85 jobs.
The Mill at MSU - Starkville, MS
SCC’s investment of $10 million helped to complete financing of a transaction that includes the renovation and expansion of a two-story 97,579 square-foot historic cotton mill along with the new construction of a complementary mixed-use development in the City of Starkville, MS, located across the street from the main campus of Mississippi State University. The project will include complete renovation of the historic Cooley Building to create a 22,000 square-foot conference center and approximately 50,000 square feet of office space on the first and second floors of the east side of the building. The office space will be occupied by the not-for-profit Stennis Institute of Government and MSU affiliate The National Strategic Planning & Analysis Research Center. The non-historic portion of the project includes the new construction of an adjacent four-story, 110-room Courtyard by Marriott hotel to be used by conference attendees, along with 800 surface and garage parking spaces.