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The city is home to the state's largest public university, Mississippi State University, as well as the private liberal arts institution Millsaps College. The Jackson area is also home of the state's only medical school: The University of Mississippi Medical Center. As a regional center for commerce and transportation in this part of Mississippi, Jackson has emerged as an important city for economic development through business incentives offered by various government entities that have attracted several large corporations which had moved from northern states due to lower costs and taxes. Jackson was founded on December 22, 1821 by an act signed by President James Monroe after his visit; he was impressed with what he saw along the Pearl River but did not yet know it would be developed there (he thought it might be located at Pascagoula).