Gulf Coast Restoration Fund

The Mississippi Development Authority administers the Gulf Coast Restoration Fund, a state-managed initiative established to support economic recovery and long-term development in Mississippi’s coastal region following the Deepwater Horizon oil spill in April 2010. The fund originates from a $750 million settlement reached with BP in 2016, with structured payments distributed over time. Mississippi received an initial payment of $150 million and continues to receive approximately $40 million annually from 2019 through 2033. Of this, $30 million per year is allocated specifically to the Gulf Coast Restoration Fund to finance projects that stimulate economic growth across six designated coastal counties. The primary purpose of the Gulf Coast Restoration Fund is to promote business development, infrastructure enhancement, and broader economic activity within George, Hancock, Harrison, Jackson, Pearl River, and Stone counties. Since its inception in September 2018, the program has focused on attracting investment, expanding regional capacity, and supporting initiatives that contribute to sustainable economic outcomes. Funding is intended to support projects that demonstrate measurable economic benefits, including job creation, increased business activity, and regional competitiveness. Eligible applicants for the program include a wide array of entity types. These include local governments, nonprofit organizations, nongovernmental organizations, public and private educational institutions such as universities and community colleges, ports and airports, public-private partnerships, private for-profit businesses, and local economic development organizations. This broad eligibility structure reflects the program’s emphasis on collaborative, cross-sector initiatives that can deliver economic impact within the coastal region. Applications are submitted through an online portal hosted by the Mississippi Development Authority. The application window for the current cycle opens on June 1 and closes on July 31. Applicants are expected to prepare and submit required materials through the portal, though specific documentation requirements are not detailed in the announcement. To support applicants, the Mississippi Development Authority plans to host a series of application workshops along the Gulf Coast from July 6 through July 8. These workshops are designed to provide guidance on the application process and clarify program expectations. The evaluation of applications is centered on the program’s core objective of economic development. While specific scoring criteria are not outlined in the announcement, proposals are expected to demonstrate their potential to increase economic activity, support business growth, and contribute to the long-term vitality of the coastal region. The program prioritizes initiatives that align with regional development goals and effectively utilize funds to achieve measurable outcomes. The timeline for the program is structured around an annual funding cycle tied to ongoing settlement disbursements through 2033. Applications are accepted during a defined window each year, with funding decisions and project implementation occurring subsequently. Although specific award notification dates and performance periods are not detailed, the recurring nature of the funding suggests continued annual opportunities for eligible entities to apply. For additional information or assistance, applicants may contact Sarah Wright at the Mississippi Development Authority via phone or email.