Former Mississippi Gov. Bill Waller addressed Meridian's Rotary Club Monday.
Waller said east Mississippi has a lot in its favor to attract more economic development to the region.
Waller said what is needed is more venture capital loans for entrepreneurs, without regard to the size of the operation.
"One of the world's largest corporations was started when Henry Ford borrowed $3000 for a bicycle shop," said Waller. "Automobiles didn't exist, but he found a way to put a motor on a four-wheel bicycle and that became the T-Model Ford."
Waller was Mississippi's governor from 1972 to 1976.