PB Community Impact Fund provided $8 million of New Markets Tax Credit (NMTC) allocation to Rouse’s Enterprises, LLC (Rouse’s) to finance the acquisition and rehabilitation of a retail shopping center anchored by a 35,700 square-foot grocery store in rural Picayune, Mississippi. 

 

The project was needed as the rural community severely lacked access to fresh healthy food, evidenced by the two USDA-designated Food Deserts served by the project. The Project will fill this need and specialize in fresh fruit and produce, meat, seafood, bakery, deli, cold cuts, dairy, frozen food, canned goods, and prepared foods. The Sponsor estimates it will provide accessible and affordable food to 8,248 people designated by the USDA as having low access to groceries and 4,796 people designated by the USDA as low-income and low access to groceries. Additionally, the Project will revamp a distressed shopping center that is currently lacking an anchor tenant. The shopping center includes a nail salon, Subway, CIAO King Restaurant, Homecare Medical, a CVS, and a Real Estate office. 

 

The Project received immense support at the local level with  Jim Luke, who is the Mayor of Picayune, providing a letter of support stating, “A new supermarket will help Picayune, MS and the folks in the surrounding area to continue to raise their quality of life with improved access to a full-service set of offerings.” Mr. Luke also goes on to state the positive impacts the Project would have on the community by saying “The economic, social, and wellness benefit of a Rouses Markets to our community is immense and I am in full support”.

 

Rouse’s is a family-owned grocery chain and is one of the largest independent grocers and fastest-growing family-owned companies in the United States. There are a total of 63 stores operated by Rouse’s in Louisiana, Mississippi, and Alabama, three of which are in Mississippi. Additionally, Rouse’s positively impacts the communities they serve by supporting the local food system by buying from local farmers, fishermen, manufacturers, and vendors.

All the newly created positions will have access to a benefits package that includes health insurance; dental insurance; life insurance; long-term disability insurance; short-term disability insurance; paid time off; retirement plans with a 50% company match up to 3% of salary.  Additionally, all positions will be accompanied by job training and career advancement opportunities with ongoing training. Rouse’s also partners with local agencies, schools, and facilities to help provide job opportunities to lower educated workers.