50 State Economic Development Incentive Guide

  • Alabama Enterprise Zone Program offers businesses locating within a zone may be eligible to receive a maximum credit of up to $2,500 per new, permanent employee or may be eligible for discretionary sales and use, income, and business privilege tax exemptions for up to five years, and the credit amount is calculated based upon number of jobs created and increment formula, capital investment levels, and employee training costs.
  • Alabama Jobs Act Jobs Credit is a discretionary program allowing an eligible company a cash rebate of up to 3% annually of the previous year’s payroll (not including fringe benefits) for eligible employees in for up to ten years.
    Alabama offers a one-time, non-refundable, non-transferable tax credit of up to $1,000 for each new job created by small businesses located in .
  • Alabama Port Credit is a non-refundable, non-transferable credit incentivizing businesses to utilize ‘s port facilities with a one-time credit can equal up to $50 per twenty-foot-equivalent, $3 per net ton of bulk cargo, or $0.04 per net kilogram for air-cargo, the credit may be carried forward for five years and may be applied against income tax liability, and to be eligible, the port user must engage in manufacturing, warehousing, or distribution, ship more than 10 TEU’s, 75 net tons, or 15,000 kg of air cargo, and increase shipping volume of its cargo by more than 105% over the prior year.
  • Alabama’s Brownfield Development Tax Abatement Act gives cities and counties the ability to abate the following: Non-educational city and county sales and use taxes; Non-educational state, city and county property taxes – up to 20 years; and Mortgage and recording taxes.
  • Alabama’s Growing Credit provides incentives to taxpayers making contributions to Economic Development Organizations (EDO) for qualifying projects.
  • Alabama’s Industrial Access Program funds non-retail projects creating new investment and jobs with a project that needs new access must be on public right-of-way, allow normal public use, and comply with state standards for usage of funds, the project must acquire a local sponsor responsible for the project, and funding may not exceed the estimate cost of the project.
  • Alabama’s Jobs Act Investment Credit is a discretionary program allowing an eligible company to receive a credit of up to 1.5% annually of the qualified capital investment in a qualifying project for up to 10 years (projects in a target or jumpstart county may receive the credit for 15 years).
  • Alabama’s offers up to 30 years of tax breaks for data centers investing $400 M and creating at least 20 jobs with an average annual compensation of $40,000.
  • Alabama permits local jurisdictions to implement Tax Increment Financing in a defined geographic zone that captures the future growth of property taxes that are used to pay for the original improvements made to support subsequent development and other public infrastructure improvements.
  • Alaska COVID-19 Emergency Business Loan Program provides 100% state-guaranteed loans to Alaskan businesses for immediate relief and loan program will be administered by local banks.
  • Alaska Tax Increment Financing allows cities to use a portion of property taxes generated within the district to invest in the district’s infrastructure, providing further incentive for private investment.

$50M corona virus relief package funds response programs related to housing assistance, business support and relief for nonprofits and healthcare providers.

Qualified Facility Tax Credit Program offers a refundable income tax credit equal to the lesser of: (1) 10% of the qualifying capital investment, or (2) $20,000 per net new job at the facility, or (3) $30,000,000 per taxpayer per year for manufacturing or corporate HQs.


Quality Jobs Tax Credit offers up to $9,000 in state income or premium tax credits spread over a three-year period for each net, net quality job ($3,000 per year) based upon a capital investment and creating net new, high-wages jobs.

R&D Tax Incentive provides a refundable equal to 24% of the first $2.5 M in qualifying expenses plus 15% of the qualifying expenses more than $2.5 M equal to 10% of the basic research payment that constitute excess expenses for the tax year over the base amount and nonrefundable tax credits for companies with fewer than 150 full-time employees a partial refund of up to 75% of the excess credit amount.

Water Infrastructure Finance Authority provides low-cost financing and incentives for water and wastewater infrastructure projects designed to ensure safe, reliable drinking water and property wastewater treatment and the Greater Arizona Development Authority lowers the cost of financing and accelerates project development for public facilities owned and operated by political subdivisions.

Computer Data Center Exemption provides Transaction Privilege Tax and Use Tax exemptions at the state, county, and local levels on qualifying purchases of CDC Equipment for 20 years and the capital investment must exceed $25 M (or $50 M in some counties) to be eligible for the exemption.

  • Arkansas Advantage Arkansas Credit is a state income tax credit employer may receive for job creation based upon the payroll of new, full-time, permanent employees hired because of a project.
  • Arkansas allocated $4,000,000 from the Governor’s Quick Action Closing Fund and an additional $3,000,000 from the Attorney General’s Consumer Education and Enforcement Fund for loan or loan guaranty of up to $250,000 with a prioritization for companies in essential service supply chain.
  • Arkansas allocated up to $12 M in CDBG assistance will be made available for COVID19 relief and recovery for grants to eligible local governments who can provide loans to companies impacted by COVID19 and grants to clinics, hospitals and other non-profits.
  • Arkansas’ ArkPlus Credit is a state income tax credit program providing credits of 10% of the total investment in a new location or expansion project and is discretionary.
  • Arkansas’ Create Rebate Program provides an annual cash payment to a company based upon a minimum payroll of new, full-time permanent employees depending on the tier of location, and a minimum payroll of $2,000,000 within 24 months of an agreement for new, full-time, permanent employees, is offered at the discretion of the Arkansas Economic Development Corporation, and the rebate incentive may also be awarded to a tech-based company with a minimum payroll of $250,000 paying an average wage 175% of the state or county average hourly wage, whichever is lesser and the payment amount equals 5% of the company’s annual payroll for new full-time employment.
  • Arkansas Governor’s Quick Action Closing Fund is a discretionary infrastructure grant program designed to share the cost of project infrastructure by committing grants from state and federal funds, the amount of assistance for the project is dependent upon the number of jobs created, strength of the company, average wages paid, existing project investment, and overall cost, targeted to certain business sector and job creation plans.
  • Arkansas provides R&D Tax Credit Programs for new and existing businesses operating in certain sectors conducting “in-house” research may receive state tax credits at the discretion of the State equal to 20% of research expenditures exceeding a baseline amount established over a preceding five-year period and may be used to offset 100% of a company’s annual income tax liability, targeted businesses may receive credits up to 33% of the qualified research and development expenditures incurred over a five-year period, and companies engaging in R&D in an area of strategic value may receive credits equal to 33% of qualified research expenditures at a maximum amount of $50,000.
  • Arkansas Tax Back Program provides sales and use tax refunds based upon the purchase of building materials and taxable machinery/equipment to qualified businesses meeting investment and job creation thresholds based upon the tier of the project location and award of local tax incentives but the refund of sales and use Taxes shall not include those paid for education; the refund is thus 5.5%.
  • Arkansas Tax Increment Financing allows a city making public improvements in a defined geographic TIF zone to capture the future growth of property taxes in that zone for the development of public infrastructure tied to that site, and the length of a TIF may not exceed 25 years.
  • California Competes Tax Credit is a non-refundable, non-transferable corporate income tax credit available to businesses coming to California or growing in the State.
  • California Infrastructure State Revolving Fund Program provides financing to public agencies and non-profit corporations for a variety of infrastructure and economic development projects excluding for housing, is available in amounts ranging from $50,000 to $25 M with loan terms for a maximum of up to 30 years, provides funding to cities, counties, special districts, and nonprofit corporations for projects including city streets, drainage, water supply, port facilities, as well as industrial, utility, and commercial projects, offers cost-effective, below-market interest rates, online assistance, no competitive ranking of applications, and does not require matching funds (the loan may serve as a matching fund for other financings), and loans may cover costs for any part of construction, cost of machinery, working capital, rights of way.
  • California New Employment Credit is available to employers who hire qualified, full-time employees, paying wages for work performed by an employee in a designated geographic area.
  • California Research and Development Tax Credit provides companies who qualify with non-refundable corporate income tax credits for R&D expenses experienced in the business worth up to 15% of expenses, plus 24% of the basic research expenses experienced outside the organization, and unused credits can be carried forward until exhausted based upon the federal research credit.
  • California Tax Increment Financing allowing its local government jurisdictions to use increased property tax revenue to pay for needed improvements within a specified area, recent developments have discarded the old model, school districts can no longer agree to allocate its share of the property tax value to the TIF district as cities can only allocate their share, with three different tools that have taken the place of traditional TIF programming: Enhanced Infrastructure Financing District provides broad authority to local agencies to use TIF for projects involving infrastructure projects, Community Revitalization and Investment Authorities authorize TIF to be used in combination with powers of former redevelopment agencies to revitalize poorer neighborhoods, and Annexation Development Plan authorizes TIF-like programs to be used to improve roads, sewers or water infrastructures in conjunction with annexing a disadvantaged, unincorporated community.
  • California’s IBank is offering loans from $500 to $10,000 to low-wealth entrepreneurs in the declared disaster and emergency areas through its Jump Start Loan Program.
  • California’s Infrastructure and Economic Development Bank will issue loan guarantees up to 95 % of the loan through its partner Financial Development Corporations to help small business borrowers who were impacted by disasters or public safety power shutoffs and who need term loans or lines of credit for working capital.
  • Colorado Advanced Industries Collaborative Infrastructure Grant provides up to $500,000 in infrastructure funding for aerospace, advanced manufacturing, bioscience, electronics, energy, and information tech projects having a broad, industry-wide impact and should significantly impact one or more of these industries, collaborate with multiple industry partners, include matching funds of 2:1 (non-State funding to State funding), and originate or partner with a nonprofit, and the preferences are for well-defined projects with significant impacts on multiple industries, a focus on production or R&D, sustainability, and demonstration of the project’s non-duplicative nature among other factors.
  • Colorado also offers many sales and use tax exemptions for the purchase of manufacturing machinery, tools, and parts, and dependent upon business sector and certain requirements, a company may receive either a refund or an outright exemption.
  • Colorado Enterprise Zone Program offers businesses locating in an Enterprise Zone the potential for any of the following non-refundable corporate income tax credits: Investment Tax Credit of 3% on personal property, Job Training Credit worth up to 12% of eligible training costs, New Employee Credit of $1,100 per net new employee (further stipulations by sector), Employer Sponsored Health Insurance of $1,000 per net new employee, Research and Development Tax Credits of 3% on expenditures, Vacant Commercial Building Rehabilitation Credit of 25% on rehab, Commercial Vehicle Investment Tax Credits for investment in commercial trucks, truck tractors, tractors, or semitrailers, and associated parts registered in CO and based and used in an EZ may earn the taxpayer a 1.5% credit, and Contribution Projects to encourage community participation and public-private partnerships to revitalize EZs focused on job creation/retention and business expansion may earn a 25% state income tax credit, and companies locating in an Enhanced Rural Enterprise Zone may receive even larger credits to aid rural, economically distressed, areas.
  • Colorado Job Growth Incentive Tax Credit is an eight-year, performance-based, job creation incentive supporting multi-state or county relocation and expansion projects.
  • Colorado Tax Increment Financing districts are economic tools used to promote development by urban renewal authorities and downtown development authorities that allow cities to use a portion of the new property taxes generated within the district to invest in the district’s infrastructure, providing further incentive for private investment for new and existing businesses for not longer than 25 years.
  • Colorado’s Strategic Fund Incentive provides cash incentives are awarded based upon the location of the job creation and the annual average wage relative to country of origin ranging from $3,000 to $6,500 per net, net job for businesses creating net, net full-time jobs in the State for one year, and receiving strong level of local matching funds (1:1 strongly preferred), the project must have potential spinoff, must headquarter in Colorado, make significant capital investments ($100,000 per employee),and come with inter-state competition.
  • Colorado’s Transferable Tax Credit Program allows companies that make major capital investments to transfer certain tax credits that are earned in the course of making that investment, i.e. companies may sell certain income tax credits that normally are not transferable and could not be used unless the company had a state income tax liability.
  • Connecticut Accumulated R&D Tax Credit Expansion Program allows eligible employers who employ more than ten people with more than $500,000 of Connecticut R&D tax credits on a balance sheet without the ability to utilize them within a two-year window and plans for expansion generating at least 50 new jobs in the State with capital expenditures of $5 M or more.
  • Connecticut municipalities can offer freeze the property assessment for a specified parcel as well as for improvements made to it for a specified period, abatements may run for seven years given a $3 M in improvements, for two years given a $500,000 investment, or for another period defined by ordinance for both real estate and manufacturing machinery and/or equipment based on a sliding scale and total level of investment.
  • Connecticut offers sales and use tax relief on the purchase of tangible personal property for businesses creating jobs, modernizing facilities, and contributing to a targeted industry cluster may be eligible, and additional levels of real and personal property tax exemptions may be available machinery, commercial motor vehicles, and property related to manufacturing.
  • Connecticut small businesses and nonprofits impacted by COVID-19 pandemic can now apply for one-year, no-interest loans of up to $75,000 under the Connecticut Recovery Bridge Loan Program which will provide $25M.
  • Connecticut Urban/Industrial Site Reinvestment Tax Credit provides corporate tax credits to companies seeking to revitalize urban and industrial sites creating significant numbers of jobs and capital investment.
  • Connecticut’s Urban Act Grant Program offers economically distressed communities grants for municipalities, nonprofits, and eligible for-profit entities to promote conservation, development, and improvement via transportation, housing, recreation, public safety, and wastewater projects.
  • Delaware created the Hospitality Emergency Loan Program to provide no-interest loans are capped at $10,000 per business per month to cover rent, utilities and other unavoidable bills but cannot be used for personnel costs.
  • Delaware New Economy Jobs Tax Credit is refundable and designed to spur job growth in Delaware by applying the credit amount against various state taxes.
  • Delaware permits its municipalities to use Tax Increment Financing for residential, commercial, industrial, and mixed-use project types subject to prior approval by the City/County and local school board to specify an area within which additional property taxes above a certain threshold are applied to a fund dedicated to paying for local projects (water supplies, sewers, drainage, land acquisition, etc.) supporting economic development.
  • Delaware’s Encouraging Development, Growth & Expansion Grant is a matching program offering access to capital to support business viability and sustainability costs
  • Delaware’s New Business Facility Corporate Income Tax Credit is designed to encourage startup investment in new business facilities with a non-refundable credit applied towards corporate or personal income taxes capped at 50% of total liability within a given year.
  • Delaware’s Transportation Infrastructure Investment Fund provides transportation infrastructure funding for a project with at least one public endorser, support expanded employment, and will be reimbursed for construction costs related to maintenance, extension, or enhancement of highways, roads, bridges, intermodal transit systems, and commercial ports/airports.
  • Florida Capital Investment Tax Credit is a 20 year tax credit against the business’ corporate income tax up to 5% of the eligible capital costs associated with large scale technology manufacturing project.
  • Florida offers a number of tax incentives for Brownfield properties including: $2,500 Job Bonus Refund for each new job created in a brownfield area by an eligible business, highly attractive business locations with existing infrastructure, voluntary cleanup tax credits, cleanup liability protection, low-interest loans for assessment and cleanup, increased State Loan Guarantee can improve lending opportunities, and expedited Permitting for Brownfield projects
  • Florida Small Business Emergency $50 M Bridge Loan expanded for business owners with two to 100 employees located in Florida affected by COVID-19 for short-term loans up to $50,000.
  • Florida Tax Increment Financing captures the future growth in value of real property in a district, those funds are deposited into a Community Redevelopment Act trust fund for use in redevelopment projects only within the CRA district, TIF may not last longer than 20 years, a CRA needs to focus on blighted areas up to 80% of a city, and funds can be used for publicly owned infrastructure, public parking structures, rehabilitation of existing buildings, affordable housing, and private site improvements, a feasibility study must be approved and the local entity must approve the TIF district before implementation.
  • Florida’s Job Growth Grant Fund funds infrastructure for up to $40 M for projects focusing on initiatives attracting businesses and creating jobs, and, while matching funds are not required, community investment is important and should be included in the proposal.
  • Florida’s Qualified Target Industry Tax Refund) provides applicants creating jobs in Florida a tax refund of $3,000 per full-time job or $6,000 per job in specified, rural counties.

 

  • Georgia allows its local governments to form Tax Allocation Districts that captures increases in property tax revenues driven by new investment in the TAD to be allocated to pay for infrastructure costs or certain private development costs therein, primarily done via issuance of tax allocation district bonds, and approval must be obtained from all government tax authorities within the district.
  • Georgia offers a sales tax exemption for equipment in data centers investing at least $15 M annually.
  • Georgia’s Investment Tax Credit is available to existing manufacturing or communications companies depending on the tier status of the county in which the investment is made.
  • Georgia’s Job Tax Credit Program in exchange for creating new jobs in a specific industry sector such as manufacturing, distribution, and data processing, non-refundable tax credits ranging from $1,250 to $4,000 per year may be available for each, new job created for up to five years.
  • Georgia’s Mega Project Tax Credit is designed to reduce a company’s payroll withholding liability and incentivize larger projects creating a significant number of jobs for companies hiring at least 1,800 new, full-time employees and either invest a minimum of $450 M or have an annual payroll of $150 M.
  • Georgia’s Port Tax Credit is a bonus which may be used in combination with the Job Tax Credit or the Investment Tax Credit if the company meets the requirements for one of those programs and increases imports and exports through the Georgia port by 10% over the previous base year, the base year port traffic must be at least 75 net tons, 5 containers, or 10 twenty-foot equivalent units, the credit may be used to offset up to 50% of the company’s corporate income tax liability and may be carried forward for ten years, and he bonus is valued at an additional $1,250 per job per year up to five years used in conjunction with the Job Tax Credits.
  • Georgia’s Quality Jobs Tax Credit provides a tax credit to companies creating at least 50 high-paying jobs paying at least 10% above the average wage of the county in which the jobs are created.
  • Georgia’s Transportation Infrastructure Bank provides grants and low-interest loans to provide financing for highly competitive transportation projects enhancing mobility while driving economic development in Georgia communities, eligible applicants include local, regional, and state government entities in Georgia including CID’s, and projects must be fuel-tax eligible and costs may include preliminary engineering, right of way, and construction costs.

 

  • Hawaii Enterprise Zone Partnership offers businesses up to a 100% exemption from the General Excise Tax, an 80% non-refundable State income tax credit for the first year (decreases 10% each year for six years), and an additional non-refundable tax credit equal to 80% of annual Unemployment Insurance premiums for the first year (decreases 10% per year for six years), and county incentives if the company is in an EZ location and derives at least half of its annual gross income from a specified activity.
  • Hawaii Tax Increment Financing allows cities to capture a portion of property tax growth generated within a locally designated district to invest in the district’s infrastructure for retention or expansion projects.
  • Hawaii’s Governor’s Strategic Reserve Fund (SRF) is a discretionary tool funded by lottery dollars (typically as a forgivable loan) used for job retention and creation projects benefiting underserved populations, adoption of diversity and inclusion planning, and contributions to local nonprofits.
  • Idaho businesses are eligible for a 3% investment tax credit on all new tangible property with a 14-year carryover or a two-year exemption from all taxes on personal property, personal property tax exemption on the first $100,000 of personal property such as equipment and furnishings, a 5% tax credit on qualified research expenses, and energy conservation rebates through efficient energy use up to $100,000 per site.
  • Idaho Opportunity Fund is a discretionary award from the Idaho Commerce Director for public infrastructure improvements to help attract and accommodate a new commercial or industrial facility, funds are directed to a local municipality and not to private companies. .
  • Idaho Revenue Allocation Area allow cities to use a portion of property taxes increased generated within the district to invest in the district’s public infrastructure, eligible costs include land acquisition, site preparation, construction of infrastructure, payment of principal and interest on tax increment bonds issued by the municipality, and other capital costs within the district, and property may be sold or leased by the authority within the urban renewal zone at its fair market value, permitted for business retention.
  • Idaho’s Community Development Block Grants that permits local cities with a population of 50,000 or less may receive up to $500,000 in grants to support public infrastructure improvements spurring business development; Rural Community Block Grants permits local cities with a population of 25,000 or less may receive up to $350,000 in grants to finance public infrastructure improvements supporting growth, and Gem Grants that permits local cities with a population of 10,000 or less may receive up to $50,000 in grants to finance public infrastructure improvements (communities must provide a minimum of 20% matching funds either cash or in-kind).
  • Idaho’s Business Advantage Program are tax credits available to businesses investing at least $500,000 in new facilities while creating at least 10 new jobs paying $40,000 providing enhanced investment tax credit of 3.75% up to $750,000 or 62.5% of corporate income tax liability in any one year, a new jobs tax credit ranging from $1,500-$3,000 for new jobs paying $24.04/hr, or a 2.5% real property improvement corporate income tax credit up to $125,000 in any one year with a 25% rebate on sales tax paid on construction materials for new facilities.
  • Idaho’s Tax Reimbursement Incentive is a post-performance based credit available to businesses adding or bringing jobs to the State; the incentive creates a maximum credit of 30% on income, payroll, and sales taxes for up to 15 years for companies creating 20 new jobs in rural areas and at least 50 in urban centers.
  • Illinois’ Data Center Investment Program provides new and existing, carbon neutral data centers making an aggregate investment of $250 M over a 60-month period with exemptions from state and local taxes (and a 20% credit towards wages paid for construction workers in underserved areas), and eligible centers must create at least 20 full-time equivalents in aggregate and meet or exceed compensation totaling 120% of the median wage paid to FTEs in the county where the center is located.
  • Illinois Downstate Small Business Stabilization Program the DCEO is repurposing $20 M in CDBG funds to offer small businesses of up to 50 employees the opportunity to partner with their local governments to obtain grants of up to $25,000 in working capital and these grants will be offered on a rolling basis.
  • Illinois Enterprise Zone Program awards a mix of state and local tax incentives for reductions in a retailers’ occupation tax, state utility tax, and purchases on personal property used in manufacturing process and local incentives such as Cook County industrial property EZs receives special consideration under the Class 6b – Industrial Program and is generally assessed at 25 percent of market value in the absence of any incentives. .
  • Illinois Growing Economy Tax Credit Program provides annual, non-refundable, income tax credits to businesses supporting job creation equal to 50% of the income tax withholdings of new jobs created in Illinois (up to 75% if located within an underserved census area) employer eligibility depends upon its number of world-wide employees.
  • Illinois High Impact Business Program supports tax credits for companies with a minimum investment of $12 M and create 500 FTE’s, or $30 M of investment with a retention of 1,500 FTEs.
  • Illinois Small Business Emergency Loan Fund offers small businesses located outside of the City of Chicago with fewer than 50 workers and less than $3 M in revenue in 2019 low interest loans of up to $50,000.
  • Illinois Tax Increment Financing captures future property tax growth in a defined district for the redevelopment of substandard, obsolete, or vacant buildings, financing general public infrastructure improvements, including streets, sewer, water in declining areas, cleaning up polluted areas, administration of a TIF redevelopment project, property acquisition, rehabilitation or renovation of existing public or private buildings, construction of public works or improvements, job training, relocation, financing costs, including interest assistance, studies, surveys and plans, marketing sites within the TIF, professional services, such as architectural, engineering, legal and financial planning, and demolition and site preparation
  • Indiana Community Revitalization Enhancement District Tax Credit provides a non-refundable tax credit equal to the qualified investment made by the taxpayer multiplied by 25% and applied to the taxpayer’s state or local tax liability for acquisition costs, engineering fees, construction management/demolition costs, and other hard costs for redevelopment/rehabilitation within a CRED district.
  • Indiana Economic Development for a Growing Economy Tax Credit provides a refundable credit is calculated as a %age of increased tax liability generated from new job creation and applied to corporate income taxes.
  • Indiana Tax Increment Financing permits townships, municipalities, and counties to finance infrastructure improvements within a dedicated zone, implemented by formation of a local redevelopment commission and passage of a resolution, a TIF pauses the taxable worth of real property within a specified area and redirects tax payments over this amount (derived from increases in real property value) to a separate fund financing public improvements within the specified area.
  • Indiana’s Data Center Gross Retail and Use Tax Exemption provides an exemption to the sales and use tax on purchases of data center equipment for a period no longer than 25 years for data investments less than $750 M, purchases totaling more than $750 M may qualify for an extended exemption of up to 50 years, and local entities may offer exemptions to personal property taxes to centers investing $25 M in real and personal property at a qualified facility.
  • Indiana’s Headquarters Relocation Tax Credit offers a tax credit for company HQs that covers up to 50% for relocation costs such as moving costs and related expenses, purchases of new or replacement equipment, capital investment costs, property assembly and development costs including such as the purchase, lease or construction of buildings and land, infrastructure improvements, site development costs.

 

  • Iowa COVID-19 Targeted Small Business Sole Operator Fund to support employers with zero employees that have been impacted by the COVID-19 pandemic with loans available up to $50,000.
  • Iowa High Quality Jobs Program offers businesses creating high-wage jobs a range of forgivable and non-forgivable loans, tax credits, exemptions, and refunds to offset costs of locating, expanding, or modernizing facilities in Iowa.
    Iowa offers sales tax breaks to data centers investing as little as $1 M, with larger incentives for projects topping $200 M. It also has no property tax on equipment.
  • Iowa R&D Tax Credit is available based upon total amount of research expenses, the company’s gross receipts, and a fixed base %age for wages paid to employees performing manufacturing product research.
  • Iowa Tax Increment Financing freezes the tax base for properties located within a specified zone, property taxes levied against the frozen base continue to provide revenue to local tax authorities, property taxes levied against any increased property values within the zone are redirected to the taxing authority created by the TIF financing improvements in the zone until the TIF ends.
  • Iowa’s Revitalize Iowa’s Sound Economy Program (RISE) allows counties and incorporated cities to apply for funding related to infrastructure improvements promoting economic development, limited to industrial, manufacturing, warehousing, and professional office developments (with some exceptions), and the program targets value-adding activities which feed revenue into local economies maximizing construction and improvement of roads and streets.

 

  • Kansas awards grants to cities or counties to provide gap-financing for private businesses which create or retain permanent jobs, some repayment is required for all economic development categories, grants are made to cities and counties which then, in turn, loan funds to developing businesses, repaid funds are returned to the state revolving loan fund and may be used for infrastructure projects on a similar loan/grant basis, funding is capped at $35,000 per job created or retained with a maximum of $750,000 and a requirement for matching funds.
  • Kansas Business and Job Development Credit provides a tax credit equal to $100 for each qualified employee or $100 for each $100,000 in qualified investment limited to 50% of the tax on the qualified business facility income tax based upon the development of jobs and a capital investment.
  • Kansas counties or cities may approve a property tax exemption for economic development purposes for up to 10 years for real or personal property must be exclusively used for manufacturing, conducting R&D, or used for storing goods traded in interstate commerce for companies with new business or with expansion creating new employment.
  • Kansas Hospitality Industry Relief Emergency fund provides eligible businesses a one-time loan of up to $20 thousand at 0% interest for a period of 36 months with be no principal or interest payments for the first four months.
  • Kansas’ Promoting Employment Across Kansas Act is a discretionary tax-credit program up to ten years, the company may retain or be refunded 95% of the entity’s state withholding tax for PEAK-eligible employees if they create at least ten jobs in metropolitan counties or five in non-metropolitan counties with benefits.
  • Kansas Tax Increment Financing uses the increases in real estate tax revenues and local sales tax revenues to retire the bonds sold to finance eligible redevelopment project costs or to reimburse the developer on a pay-as-you-go basis, focuses on non-retail projects, monies raised through TIF may be used for eligible redevelopment project costs approved by cities such as for site preparation, infrastructure, parking, and land acquisition within the TIF district.
  • Kentucky Business Investment Program provides up to 100% of corporate income or limited liability entity tax credit for new and existing agribusinesses, regional and national headquarters, manufacturing companies, energy companies, and other businesses which locate or expand operations in Kentucky arising from the project as well as a wage assessment up to 4% of taxable wages for each employee.
  • Kentucky KIA Loan Program is a financial assistance mechanism encourage the development of basic infrastructure needs in Kentucky communities for basic water, sewer, solid waste facilities, and other infrastructure needs necessary for economic growth, two revolving loan funds A & F as well as Fund B and C with each fund dedicated for a different purpose, has a different interest rate, term of years, and amount of available funding.
  • Kentucky offers a Brownfield property tax abatement for qualified parties a three year exemption from the local ad valoreum property tax following the issuance of a no-further-remediation letter, and the state ad valorem property tax rate will be reduced from 31.5 cents per $100 of assessed value to 1.5 cents per $100 of assessed value with qualified parties receiving up to $150,000 worth of income tax credits for expenditures made to meet the requirements of the cabinet-approved cleanup, the allowable credit for any taxable year is a maximum of 25 % of the credit authorized, and the credit may be carried forward for 10 successive years following the issuance of a no further remediation letter.
  • Kentucky offers a sales tax refund for computer system equipment for data centers investing at least $100 M.
  • Kentucky Tax Increment Financing earmarks future property tax gains resulting from the development for public infrastructure in a defined district, local government enacts the program and are subject to a maximum term of 20 or 30 years.
  • Kentucky’s Small Business Tax Credit Program allows small businesses a non-refundable tax credit equals between $3,500 and $25,000 per year which hired one new job in the last year paying 150% of the federal minimum wage and invest $5,000 or more in qualifying equipment carried forward for five years.

 

  • Louisiana Enterprise Zone Program provides an income and franchise tax credits for businesses creating at least five full-time jobs and hiring at least 50% of those new jobs from four targets groups may receive a one-time $2,500 job tax credit per new job created and a 4% rebate of sales and use taxes paid on qualifying materials.
  • Louisiana Industrial Tax Exemption program offers up to 80% property tax abatement for up to ten years on a manufacturer’s new investment, and sales tax exemptions on manufacturing machinery, equipment, and business utilities.
  • Louisiana Loan Portfolio Guaranty Program offers loans of up to $100,000 to Louisiana small businesses impacted by COVID-19 crisis from a $50 M funding total.
  • Louisiana Quality Jobs Rebate Program provides up to a 6% cash rebate and state sales tax rebate to companies engaged in a designated industry, have at least 50%. of its annual sales out-of-state or be in a parish within the lowest 25% of parishes based on income and meet certain job and payroll threshold.
  • Louisiana Research and Development Tax Credit provides up to a 30% tax credit on qualified research expenditures with no cap and no minimum requirement.
  • Louisiana Tax Increment Financing permit local governments to use future tax revenues to pay for public infrastructure at a defined site until the debt is exhausted.
  • Louisiana’s Competitive Projects Payroll Incentive Program provides an incentive rebate of up to 15 % of a participating company generating at least 50% of its sales from out-of-state buyers, demonstrate net new jobs and payroll within the state through the project, and offer health benefits plans to employees.
  • Maine Employment Tax Increment Financing Program refunds between 30%-80% of the state withholding taxes paid by the business for up to ten years based upon the company locating in an underserved market.
  • Maine Tax Increment Financing permits municipalities, plantations, and unorganized areas to leverage new values in property Taxes within a defined zone to pay for public/private projects for a period up to 30 years and property tax revenues above a threshold are redirected to pay for the TIF-designated projects.
  • Maine’s Finance Authority and participating lenders will make special terms available to Maine-based businesses that have experienced interruption or hardship due to COVID-19 for loans up to $50,000.
  • Maine’s Major Business Headquarters Expansion Program (MBHQ) provides a tax credit against the total tax due for 2% of its qualified investment in the State not exceeding $16,000,000 if a company locates its principal facility from which it conducts national/global business in Maine, employ at least 5,000 individuals worldwide (25% in Maine), have business locations in at least three other states/nations, and intent to make an investment of at least $35,000,000.
  • Maine’s Pine Tree Development Program allows biotech., aquaculture, advanced manufacturing, and IT businesses the chance to reduce or eliminate state tax liability for up to ten years.
  • Maine’s Public Infrastructure Grant Program provides gap-financing for local infrastructure projects as part of a community development strategy leading to future investment, eligible activities include construction, acquisition, reconstruction, installation, and other public projects which have acquired a cash match of at least 25 % (other non-CDBG grants) of the total, possible grant award.
  • Maryland COVID-19 Emergency Relief Manufacturing Fund provides $5 M in incentives to help Maryland manufacturers to produce personal protective equipment (PPE) that is urgently needed by hospitals and health-care workers across the country.
  • Maryland has authorized $130 M in loan and grant funding for small businesses and manufacturers that have been negatively impacted by COVID-19.
  • Maryland Job Creation Tax Credit provides an income tax credit of $3,000 to a business creating new, full-time jobs statewide and may provide up to $5,000 per new job if located within a designated revitalization area capped at $4 M in tax credits per calendar year, a business must create 60 new jobs statewide, 25 jobs within a priority funding area, or 10 jobs in other, specified counties paying 120% of the state’s minimum wage.
  • Maryland Small Business COVID-19 Emergency Relief Grant Fund provides $50 M in grants for businesses and non-profits offers grant amounts up to $10,000, not to exceed 3 months of demonstrated cash operating expenses for the first quarter of 2020.
  • Maryland Small Business COVID-19 Emergency Relief Loan Fund provides a $75 M loan fund for for-profit businesses with no interest or principal payments due for the first 12 months, then converts to a 36-month term loan of principal and interest payments, with an interest rate at 2% per annum.
  • Maryland’s Advantage Maryland or the Maryland Economic Development Assistance Authority and Fund is a flexible, broad-based program utilizing a combination of fund grants, loans, and other investment initiatives to support economic development initiatives including infrastructure support, projects must be within priority funding areas and eligible industry sectors to qualify and a local sponsor may be required, major economic development projects may be eligible for up to $10 M in loan funding, municipalities may receive up to $5 M in loans or $2 M in loans and grants to support expanding businesses.
  • Maryland’s Advantage Maryland or the Maryland Economic Development Assistance Authority and Fund is a flexible, broad-based program utilizing a combination of fund grants, loans, and other investment initiatives to support economic development.
  • Maryland’s One Maryland Tax Credit provides $1 M in tax credits for businesses creating 10-24 jobs, $2.5 M to those creating 25-49 jobs, and a maximum of $5 M to those creating at least 50 qualified positions located in a Tier 1 county for a project costing $500,000 and creating jobs paying 120% of Maryland’s state minimum wage.
  • Massachusetts Economic Development Incentive Program Credit is a tax credit against taxpayers’ income or corporate excise tax liabilities for an amount up to 10% of the cost of the qualifying property purchased up to 40% and may receive credits up to $5,000 per job created.
  • Massachusetts’ Life Sciences Tax Incentive Program is designed to expand life-sciences-related employment opportunities, promote health-related innovations, and stimulate research and development, commercialization, and manufacturing in the life-sciences sector in Massachusetts who employ at least ten permanent FTEs and commit to hiring at least ten additional employees over four years.
  • Massachusetts’ MassWorks Infrastructure Program provides grants for public infrastructure projects, projects should support and accelerate housing production, private development, and create jobs throughout the Commonwealth, proceeding in rounds, the program places emphasis on the production of multi-family housing in walkable, mixed-use districts resulting in immediate job creation and development within weak and distressed areas.
  • Massachusetts Research Credit covers wages paid to research employees and a portion paid to contractors and supplies up to the first $25,000 in excise tax due plus 75% of any excise tax due more than $25,000 but the credits may not reduce a taxpayer’s liability below $456.
  • Michigan Business Development Program provides grants, loans, and other assistance to a business located in the State, creating 50 new jobs (25 new jobs if in a county with a population less than 90,000), and support capped at $10,000,000.
  • Michigan Commercial Rehabilitation Exemption offers an incentive for commercial business or a multi-family residential facility with five or more units where the value of improvements must be at least 10% of the true cash value of the property at the start of the rehabilitation for up to a 10-year term, and a local entity must first establish a Commercial Rehabilitation District by resolution and create a district composed of property owners within the area.
  • Michigan PPE Loan Program provides grants ranging from 10,000 to $150,000 up to $1 M in grants for Michigan manufacturers looking to transition their business to produce PPEs.
  • Michigan Small Business Relief Program provides both grants and loans to small businesses affected by the coronavirus starting on or around April 1, grants will be available in amounts of up to $10,000 to help cover working capital, loans will be available in amounts from $50,000 to $200,000 at interest rates of 0.25%, companies with 50 employees or fewer can qualify for grants, while loans are targeted at companies with 100 employees or fewer that can’t get credit elsewhere.
  • Michigan Tax Increment Financing permits municipalities to capture future property tax to finance public infrastructure in a municipally designated TIF district creating a base value of property within the zone, taxable value above this base value is redirected to pay for infrastructure improvements and can be used for water resource improvement, job creation, commercial corridors, historic preservation, and many other qualified projects.
  • Michigan’s Department of Environmental Quality Brownfield Redevelopment Program provides grant and loan funding up to $1 M in grants or loans in funding for environmental assessment, clean-up, exposure risk, eligible projects must have a committed developer, anticipated, private investment, new job-creation in the community, and result in an increase in tax revenue but sites lacking a developer may be eligible for loans offered at 1.5% interest with a 15-year payback period.
  • Minnesota Department of Employment and Economic Development provides small business emergency interest-free loans ranging from $2,500 to $35,000 and will be based on the firm’s economic injury and the financial need.
  • Minnesota Greater Minnesota Job Expansion Program provides non-retail or service businesses creating 2 FTEs or 10% of current employees paying high wages in Minnesota with sales tax refunds not to exceed $2M annually or $10 M over seven years.
  • Minnesota law authorizes political subdivisions to grant property tax abatements for economic development purposes for common property tax abatements for creating or retaining jobs, constructing public facilities or infrastructure, and the abatements may not exceed 15 years and 10% of the net tax capacity of the subdivision or $200,000 (whichever is larger).
  • Minnesota Small Business Loan Guarantee Program guarantees $20 M to $25 M in loans for Minnesota small businesses.
  • Minnesota’s Data Center Sales Tax Incentive offers sales tax exemptions to companies building data or network operations centers of at least 25,000 square feet while investing at least $30 M within 48 months. Eligible projects may receive sales tax exemptions for up to 20 years on computers, servers, energy equipment and use, and pay no personal property tax.
  • Minnesota’s Greater Minnesota Public Infrastructure Grant Program provides grants to cities or counties outside the seven-county metro area for projects including wastewater collection, streets, and utility extensions, local match required of at least 50 % of project capital costs, applicants will be awarded 50% of eligible costs not exceeding $2 M in two years for one or more projects.
  • Mississippi Capital Improvement Revolving Loan Program provides loans to municipalities and counties financing public infrastructure improvements to assist with business location and expansion projects with a maximum CAP loan term of 20 years, the interest rate for tax-exempt activities is 2%, and 3% for taxable activities, and the typical projects may include fire protection, land improvements, brownfield remediation, access road creation, drainage improvements, and many others affecting manufacturing, warehousing, distributing, and other businesses
  • Mississippi Community Development Block Grant — Economic Development Program is a federally funded program providing funding for public infrastructure, company must partner with a locality and commit to making a capital investment and create jobs (51 % of which must be available to low- and moderate-income individuals), typical industries eligible may include manufacturers, warehouses, and R&D facilities among others, and infrastructure funded includes drainage systems, water, sewer, roads, bridges, and other public buildings.
  • Mississippi Development Infrastructure Program provides grants to municipalities and counties to finance public infrastructure projects promoting economic growth, usage of funds must be directly related to the construction, renovation, and expansion of industry and local governments must apply for DIP funding based upon the needs of a project, eligible industries include manufacturers, distributors, telecom processing centers, corporate headquarters, and R&D facilities, DIP funds may be used to construct, renovate, and expand publicly owned infrastructure such as roads, bridges, water, sewer, and land improvements.
  • Mississippi local governing authorities may grant a property tax exemption for up to ten years on real and tangible personal property being used in the state for all local property taxes except school district taxes and applies to manufacturing, warehousing, and R&D.
  • Mississippi Manufacturing Investment Tax Credit provides a 5 % tax credit not to exceed $1,000,000 and may offset up to 50% of a business’s income tax liability for entities operating a manufacturing facility for two or more years investing $1,000,000 or more in buildings or equipment.
  • Mississippi Tax Increment Financing permits local governments to use future tax revenues to pay for current public infrastructure in a defined district.
  • Mississippi’s Jobs Tax Credit reduces manufacturers, wholesalers, processors, R&D facilities, and distributors’ income tax liability for jobs within a Tier I (20 jobs gains a 2.5% payroll credit), II (15 jobs receives a 5% payroll credit), or III (10 jobs receives a 10% payroll credit) per job in the county and are capped at 50% of a business’s income tax liability, and be carried forward for five years.
  • Mississippi’s National or Regional Headquarters Relocation Tax Credit offers companies bringing at least 20 jobs transferring or relocating their national or regional HQ an income tax credit equal to their actual relocation costs.
  • Missouri Business Use Incentives for Large-Scale Development Program provides low-interest loans to qualified borrowers through the issuance of tax-exempt revenue bonds for large economic development projects that may then be eligible for refundable tax credits generated through the financing program for a company engaged in manufacturing, processing, assembly, research and development, agriculture, or interstate commerce investing at least $15 M and creating at least 100 new jobs at the project facility within three years, and, if the project is an office industry such as a regional headquarters, $10 M must be invested and a minimum of 500 jobs created.
  • Missouri Infrastructure Development Opportunities Commission Program authorizes the Missouri Development Finance Board to provide local political subdivisions, including public sewer and water districts, with long-term, 3% interest rate loans, loan dollar amounts are between $25,000 and $150,000 and are intended to help rural communities and districts therein struggling to finance infrastructure projects, and loans are offered to partially fund infrastructure improvements prioritizing water, sewer, and safety issues.
  • Missouri Local Tax Increment Financing permits a portion of local property and sales taxes to assist in funding the redevelopment of certain designated areas within a community in districts that are classified as blighted, conservation, or economic development, pays professional service studies, land surveys, land acquisition, demolition, rehabilitation, and building infrastructure such as streets, sewers, parking, lighting, and relocation of business occupants, assumes that property and/or local sales taxes will increase in the designated area after redevelopment and a portion of the increase in collected taxes, up to 23 years, may be allocated to help pay project costs.
  • Missouri State Supplemental Tax Increment Financing facilitates the redevelopment of blighted areas by providing essential public infrastructure financing, redevelopment project must be in an area designated as blighted, located in an enterprise zone, empowerment zone, urban core area, or CBD, contain at least one building of 50 years of age or older, and the area must have experienced general decline in property taxes over the last 20 years, municipalities may apply for the program when local TIF financing leaves a gap for a redevelopment project, underlying local TIF must dedicate at least 50% of the amount of the new, local sales tax revenue and 100% of the amount of new real property tax revenue created by the project while the state TIF is sought, an applicant may be approved to receive up to 50% of the net new sales tax revenue generated in the area or up to 50% of the increase in state income tax revenue but not both, state TIF may be awarded for up to 15 years and may be used for public works improvements.
  • Missouri Works Program offers a mix of retention in state withholding tax for new jobs and/or state tax credits, which are refundable, transferable, and saleable based upon a %age of the payroll associate with new jobs and are not provided until the company meets minimum job, wage, and healthcare insurance thresholds for businesses creating at least two, full-time jobs and pay between 80% and 140% of the average, county wage dependent upon the location and size of the project.
  • Missouri’s Brownfield Remediation Program provides a company who did not caused the Brownfield hazard, be accepted into the ‘Voluntary Cleanup Program”, and creates jobs could be awarded the Remediation Tax Credit for up to 100% of the cost to remediate the project property/. 75% of the credits will be released upon adequate proof of payment costs and the remaining 25% will be issued when a clean letter has been issued by DNR.
  • Missouri’s Data Center Sales Tax Exemption Program offers new data centers creating at least 10 new, full-time jobs, paying average wages 150% of the county average wage, investing $25 M in new investment within 36 months up to 15 years of state and local sales tax exemptions, and existing data centers may also be eligible for a ten-year exemption if creating at least five, new, full-time jobs within 24 months, paying 150% of the county average way, and investing $5 M within a year.

 

  • Montana Department of Agriculture, Growth Through Agriculture Mini-Grant Program provides mini-grants available to food and ag companies for education, promotion, marketing, and travel projects to expand agricultural development, economic activity, and employment growth.
  • Montana Department of Agriculture, Rural Assistance Loans are available to producers with modest financial investments in agriculture.
  • Montana Department of Commerce, Big Sky Economic Development Trust Fund Planning Grants provides planning funds to eligible applicants to assist with economic development planning efforts that promote long-term, stable economic growth in Montana.
  • Montana Department of Commerce, MicroBusiness Finance Program for Montana-based businesses with fewer than ten full-time equivalent employees and gross annual revenues of less than $1,000,000 can apply for a microbusiness loan up to $100,000 for working capital to start or expand a business, training and technical assistance, and pre- and post-loan training valuable for the success of a small business.
  • Montana Department of Commerce, Native American Collateral Support Program provides collateral support security for Lenders making loans with Native American-owned businesses that only lack in sufficient collateral/equity for a business loan according to their loan risk profiles.
  • Montana Department of Commerce, Wood Product Revolving Loan Fund is available to wood product businesses experiencing loss or are financially in distress.
  • Montana Department of Natural Resources and Conservation administers a wide range of grants and loans to assist Montana cities and towns, conservation districts, and private landowners in managing natural resources at the local level, and the Department of Transportation offers grant and funding programs to help provide transportation to the rural, public.
  • Montana Facility Finance Authority, Emergency Loan Program makes short-term loans to eligible institutions at competitive interest rates during periods of declared emergency.
  • Montana New or Expanded Industry Credit provides a tax credit equal to 1% of total wages paid to new employees for the first three years after initiation or expansion of operations but cannot be carried forward or backward and is for manufacturing companies increasing total, full-time employment by at least 30% in the State.
  • Montana new or expanding industries approved by the local government may receive a reduced tax valuation on the property value increase caused by improvements or modernization if a business that starts operations or invests a minimum of $125,000 worth of qualifying improvements or modernized processes and they may receive partial property tax abatement for up to 9 years based on an increase in taxable value caused by improvements but the benefit is 50% reduced on the increased taxable value for the first five years, with a 10% lower reduction every year thereafter.
  • Montana Tax Increment Financing districts allow cities to use a portion of property taxes generated within the district to invest in the district’s infrastructure, providing further incentive for private investment, may be used for land acquisition, demolition and removal, relocation, infrastructure, and other uses, when private investments within a TIF district lead to higher property values, the resulting increase in property tax revenue is reinvested within the district funding further improvements promoting private investment and job creation, and TIFs might also be used to retain businesses as well as to attract new entities.
  • Montana’s Big Sky Economic Development Trust Fund (BSTF) Program provides state funds to promote long-term, stable, economic growth in Montana with financial assistance for Economic Development Job Creation Projects where applicants may be eligible for up to $5,000 for each net, new job created (not in high poverty county; required 1:1 match) or up to $7,500 per each net, new job created in a high poverty county (1:2 50% match) with the funding provided to local or tribal governments, or Planning Grant Projects are awarded to Certified Regional Development Corporation, tribal, or local governments to support economic development and planning activities with the Department awarding up to $1 for every $1 in documents matching funds up to a total of $25,000.
  • Montana’s Empowerment Zone Credit allows an employer capped at $500 for year 1, $1000 for year 2 and $1500 for year 3 in the State having less than 10% of the business from retail sales of tangible personal property not manufactured on site are eligible for the credit for a business increasing employment within the zone for new FTEs with benefits.
  • Montana’s Qualified Data Centers do not receive a tax abatement but Qualified Data Centers to be classified as Class Seventeen property with a taxable valuation rate of 0.9% of market value.
  • Nebraska Advantage Act organized into six tiers dependent upon location, business investment, number of jobs created, and business sector, a business may qualify for a comprehensive suite of incentives including credits on investment, sliding scale job credits based upon the average wage of new jobs created, sales tax refunds, and other property tax exemptions.
  • Nebraska Advantage Research and Development Credit offers a refundable tax credit for qualified research and development activities undertaken by a business entity for 21 years, and the credit is equal to 15 % of the federal credit allowed.
  • Nebraska Department of Economic Development has allocated Community Development Block Grant funds to assist qualified businesses that have been impacted by the COVID-19 outbreak.
  • Nebraska Economic Opportunity Program is a rapid response initiative directed by the Nebraska Department of Transportation to attract and sustain growth by making local grants for strategic transportation improvements creating business in the state, projects must show a clear need that the improvement will generate economic prosperity by create high-quality, private sector jobs paying above the median wage for the region, public entities are eligible to apply and must provide matching funds equal to at least 25% of the total transportation project cost, and a benefitting business must be identified to the Department of Transportation and provide credible evidence of development plans for the site served by the project.
  • Nebraska offers several tiers of sales and property tax breaks to data centers, starting with those that invest at least $3 M and employ at least 30 people, or invest at least $37 M while holding employment steady.
  • Nebraska Site and Building Development Fund finances land and building acquisition, building construction, infrastructure development and improvements, and other approved costs, typical awards are expected to be between $250,000 and $500,000 in the form of grants or zero-interest loans, requires matching funds of at least an amount equal to 100% of the assistance provided, ultimate award varies upon capacity of the applicant and development team to complete the project and whether the project will locate a company to the site/building, the type of industry, and investment thresholds.
  • Nebraska Tax Increment Financing permits the creation of TIF districts in blighted or near-blighted areas, freezes the property tax valuation for the life of the district, as value within the district increases with development, tax revenue collected above the frozen value is captured by the TIF-initiating district and allocated to paying for development projects within the TIF district, Nebraska does not base a TIF upon economic development projects but upon slum and blight.
  • Nebraska’s Advantage Microenterprise Tax Credit provides a 20% refundable tax credit capped at $10,000 to micro businesses on increased compensation for employees or increased investment in targeted communities.
  • Nevada Catalyst Fund is a discretionary program offering post-performance transferable tax credits to support business attraction and expansion for projects with significant capital investment and job creation, significant return on investment, and possess strong local support.
  • Nevada Division of Environmental Protection offers loan and grant programs to assist drinking water, wastewater, storm water, and nonpoint source water systems, and the Office of Science, Innovation, and Technology can offer grants on a case-by-case basis for broadband infrastructure development.
  • Nevada offers companies paying 100% or more of the State or County wide average wage may qualify for a personal property tax abatement of 50% of the tax due for ten years, sales and use tax abatement reducing the rate to 2% for two years for a new company and 4.6% for two years for an existing, expanding company, and a Modified Business Tax abatement of 50% for four years, companies paying 85% to 99% of the lesser of the State or County wide average wage may qualify for: personal property tax abatement of 25% of the tax due for ten years, sales and use tax abatement reducing the rate to 4.6% for two years, and Modified Business Tax abatement of 25% for four years, and, in either case, the company must also offer medical insurance and pay at least 65% of the plan’s premium cost and one of the following: make a capital investment (exact amount dependent upon the location) and create a number of primary jobs (exact amount dependent upon the location), and companies should maintain business in Nevada for five years, register pursuant to Nevada law, and generate more than 50% of revenue from the project from outside the State.
  • Nevada Tax Increment Financing allow cities to use a portion of property taxes generated within the district to invest in the district’s infrastructure, providing further incentive for private investment, may be used for land acquisition, demolition and removal, relocation, infrastructure, and other uses, resulting increase in property tax revenue is reinvested within the district funding further improvements promoting private investment and job creation, and have a maximum duration of 45 years for Redevelopment Areas and 30 years for Tax Increment Finance Areas.
  • Nevada’s Data Center Tax Abatement offers a company and co-located tenants who intend to local or expand a data center a Personal property tax abatement of 75% of the tax due for 10 or 20 years or Sales and use tax abatement reducing the rate to 2% for 10 or 20 years and, for the 10-year abatement, the company must create 10 full-time jobs, pay at least 100% of the statewide average wage, and invest $25 M in capital expenditures (increases to 50 full-time jobs, and $100 M in capital expenditures for the 20 year abatement), maintain business in the State for ten years, register pursuant to Nevada law, offer medical insurance paying at least 65% of the plan premium, and assurances that 50% or more of all workers engaged in construction of the data center are Nevada residents.
  • New Hampshire Economic Revitalization Zone is a tax credit program designed to offer a short-term business non-refundable, non-transferable tax credits for projects improving infrastructure and creating jobs in qualified municipalities in designated zones and the tax credit may not exceed a maximum of $40,000 per year by a taxpayer or $240,000 over five years.
  • New Hampshire Research and Development Tax Credit is applied against business taxes due within five taxable periods and equals the lesser of either 10% of the organization’s qualified manufacturing research/development expenditures (usually wages) or $50,000, and credits are first applied to the Business Profits Tax and remainder against the Business Enterprise Tax.
  • New Hampshire Tax Increment Financing captures the future growth of taxes in a defined zone for its public infrastructure needs based upon the approval of the local government.
  • New Hampshire’s Coos County Job Creation Tax Credit was created by the New Hampshire legislature to grants businesses credits against business taxes paid for each full-time, year-round, new job created in Coos County for which actual wages exceed 150% of the state minimum wage, and the Department of Resources and Economic Development awards credits of either $750 or $1,000 for each qualified employee on the employer’s payroll for at least 90 days prior to its being claimed, and credits are claimed against Business Profits taxes first with any remaining credits applied against the Business Enterprise Tax.
  • New Hampshire’s Department of Environmental Services offers loans for clean drinking water and groundwater storage via its Revolving Fund Loan and may offer grants to local entities pursuing watershed assistance, water-quality planning, and other water-resource protections.
  • New Jersey Economic Development Authority has a portfolio of loan, financing, and technical assistance programs available to support small and medium-sized businesses. 
  • New Jersey Economic Redevelopment Growth Program helps developers close a demonstrated financing gap for commercial projects who may receive a reimbursement of up to 20% of total project cost (subject to additional grant funding); mixed-use projects may qualify for up to 100% of the parking component and up to 40% of total, non-parking, project costs, projects may be subject to verification of a gap in financing, the net result must lead to a benefit for the State, and the project must be in a qualifying economic development incentive area.
  • New Jersey Urban Enterprise Zone Program’s 32 EUZ zones located within 37 cities, several tax incentive benefits are available to businesses including: sales tax exemptions for purchase of specific items, corporation business tax credits for businesses hiring new employees, partial sales tax exemptions to sellers of most tangible, personal property within the zone, unemployment insurance tax benefits, and sales and use tax exemptions for the purchase of natural gas and electricity used by a manufacturer within a zone.
  • New Jersey’s Grow New Jersey Program offers targeted businesses creating or retaining 10 tech jobs or 25 non-tech jobs a transferable tax credits measured by the number of jobs against corporate income and insurance premium taxes if a business locates within a Garden State Growth Zone.
  • New Jersey’s Economic Development Authority offers brownfield redevelopment projects funding through the Economic Redevelopment and Growth Program can fund an incentive grant of up to 75% of the annual incremental State Tax and/or Local Tax revenue for development projects in Planning Area 1 (Metropolitan), Planning Area 2 (Suburban) or a center designated under the State Development and Redevelopment Plan;
  • New Mexico Economic Development Department can guarantee a portion of a loan or line of credit up to 80% of principal or $50,000 for COVID 19 impacted companies in need of working capital, inventory, and payroll.
  • New Mexico High Wage Jobs Tax Credit is a refundable tax credit of 8.5% of the wages and benefits paid for each new job created up to $12,750 per job for high-wage, FTE jobs paying at least $40,000/year in a community with a population of less than 60,000 or paying $60,000/year in a community of 60,000 or more.
  • New Mexico Investment Tax Credit for Manufacturers is a non-refundable credit against gross receipts, compensating, or withholding taxes equal to 5.125% of the value of qualified equipment for every $500,000 in equipment, 1 employee must be added up to $30 M and for amounts exceeding $30 M, 1 employee must be added for each $1 M of equipment.
  • New Mexico Tax Increment Financing districts allow cities to use a portion of property taxes generated within the district to invest in the district’s infrastructure, providing further incentive for private investment to pay for land acquisition, demolition and removal, relocation, infrastructure, and other uses.
  • New Mexico Technology Jobs Tax Credit Program provides a tax credit equal to four % of qualified expenditures and an additional four % credit toward income tax liability by raising its in-state payroll $75,000 for every $1 M in qualified expenditures claimed, and it doubles for expenditures in facilities located in rural New Mexico.
  • New Mexico’s Rural Jobs Tax Credit Program is a non-refundable credit applied to taxes due on state, gross receipts, corporate income, or personal income taxes for job growth for non-retail companies in any county other than Los Alamos County, certain municipalities like Albuquerque, Rio Rancho, Farmington, Las Cruces, Roswell, and Santa Fe, as well as 10-mile zones around those select municipalities.
  • New York City’s Relocation and Employment Assistance Program offers business income tax credits to firms relocating to areas above 96th Street in Manhattan or to another borough outside of Manhattan for a maximum annual credit of $3,000 for twelve years per employee.
  • New York Excelsior Jobs Program offers four fully refundable program credits if the entity meets job and investment thresholds for each program: Excelsior Jobs Tax Credit provides a credit of 6.85% of wages per net new job, Excelsior Investment Tax Credit provides 2% of qualified investments, Excelsior Research and Development Tax Credit provides a credit of 50% of the Federal Research and Development credit for up to 6% of expenditures in New York, and Excelsior Real Property Tax Credit provides a credit to regionally significant projects in underserved communities.
  • New York’s brownfield tax credits include a remediated brownfield credit for real property taxes, available to sites accepted into the BCP prior to July 1, 2015, environmental remediation insurance credit, available to sites accepted into the BCP prior to July 1, 2015 brownfield redevelopment tax credit, available to sites accepted into the BCP for the following time periods: prior to June 23, 2008 on or after June 23, 2008, but prior to July 1, 2015 on or after July 1, 2015
  • New York’s Economic Transformation Program authorizes the Empire State Development Corporation to implement a $32 M program for the purposes of promoting economic development within specific communities, eligible applicants include businesses, municipalities, and other economic development organizations for projects involving site and infrastructure development, real estate acquisition, and construction-related planning and design, and preference will be given to projects involving development initiatives intended to create or retain jobs in a specified Economic Transformation Area.
  • North Carolina may exempt machinery, equipment, electricity, fuel and natural gas, raw materials from its sales and use tax and does not levy a property tax on inventories owned by contractors, manufacturers, and merchants.
  • North Carolina Project Development Financing allows local governments to borrow money to fund public improvements like transit stations, schools, and public parking within a designated area while attracting private investment, the debt incurred by the funding of the public improvement is both secured and repaid from additional property tax revenue over time considering an area’s new development.
  • North Carolina’s Department of Commerce Rural Division provides Economic Infrastructure Grants in designated counties based upon a tiered system with economically disadvantaged counties gaining more resources, a Utility Account cash-grant program providing incentives for projects locating in its most distressed counties, a Rail Industrial Access Incentive Program provides infrastructure grants associated with rail related projects, and the state uses its Community Development Block Grant Program to provide funding directly to local municipal or county governments for projects spurring job creation and retention through infrastructure development.
  • North Carolina’s Data Centers Sales & Use Tax Program provides three sales and use tax exemptions for the purchase of certain items at qualifying data centers, eligible internet data centers, and other data centers that permits a qualifying data center may receive an exemption on purchases of electricity if at least $75 M of investment has occurred; at least $250 M in investment if an internet datacenter, and computer software may be exempted from sales and use tax if software is sold to an eligible data center.
  • North Carolina’s Job Development Investment Grant is a performance-based, discretionary incentive program based upon the percentage of the personal income tax withholdings associated with the project, the project location, number of jobs and average wage providing cash grants worth up to 90% of personal income tax withholdings for up to 20 years if it creates investment of $500 M while creating 1,750 jobs and for “transformative projects” investing at least $1 billion and creating at least 3,000 jobs, a 90% grant may extend to 30 years directly to new and expanding companies aiming to offset the cost of locating or expanding a facility in the State.
  • North Carolina’s One North Carolina Fund is a discretionary, cash-grant program based on the number of jobs created, level of investment, location, economic impact, and importance to the State and requires that a local government provide matching funds depending upon its county-tier designation.
  • North Dakota cities may designate a zone within their boundaries, allowing a business there to qualify for state income tax exemptions, credits, and local property tax abatements for up to five years.
  • North Dakota Corporate Income Tax Exemption allows corporations qualifying as a primary sector business to pay $0 in corporate income taxes for the first five years of business in North Dakota.
  • North Dakota Development Fund is making loans and equity investments to companies certified as primary sector for up to $1 M, lower than market interest rate, can be in the form of a loan or equity investment, and funding can be used for working capital, equipment or real estate.
  • North Dakota Infrastructure Loan Fund is a loan program administered by the state-owned bank, provides loans to local, political subdivisions for repair, replacement, and new infrastructure projects, communities must first access other state or federal funding options, utilize BND loans as gap-funding when the full project cost cannot otherwise be met, and loan amounts may not exceed $15 M at a fixed interest rate of 2.00% for water, sewer, and transportation infrastructure.
  • Ohio Community Reinvestment Area program is administered by municipal and county government that provides real property tax exemptions for property owners who renovate existing or construct new buildings, and those CRAs created before 1994 do not need school board approval for up to a 100% abatement.
  • Ohio Enterprise Zone Program permits local governments to provide real and personal property tax exemptions to businesses within designated enterprise zones tied to company job creation and a substantial capital investment with cities and counties able to award abatements up to 75% without school board approval.
  • Ohio Job Creation Tax Credit is an annual, refundable credit applied towards a company’s Commercial Activity Tax (CAT) liability as a % of newly created payroll in the state for creation of $660,000 in new payroll paying 150% of federal minimum wage.
  • Ohio offers Brownfield liability protection through a Voluntary Action Program that can result in liability protection for uses with “clean-hands” as well as a 100% property tax abatement that is central to redeveloping the sit, and the JobsOhio Revitalization Loan & Grant Program is an important tool to provide financing for remediation and redevelopment of Brownfield sites.
  • Ohio port authorities can provide financing lease structures for projects which could result in the exemption of state sales taxes on construction materials that typically covers 50% of the costs of the construction budget.
  • Ohio Roadwork Development Grants (629) are reimbursable awards to local governments, port authorities, and companies to support business expansion and job-attraction via public infrastructure improvements, funds are available for projects involving manufacturing, high-tech, corporate headquarters, and distribution activity and may cover engineering, design costs, actual construction of roadways and/or utility improvements, projects must typically create jobs, are often provided to local jurisdictions, and require local participation.
  • Ohio Tax Increment Financing permits townships, municipalities, and counties to finance infrastructure improvements and, limitedly, residential rehabilitation associated with new development to pauses the taxable worth of real property within a specified area and redirects tax payments over this amount (derived from increases in real property value) to a separate fund financing the public infrastructure.
  • Ohio’s JobsOhio is offering a program for existing JobsOhio client businesses only to provide forgivable, six-month interest-free loan to companies who would use the loan to retain their workforce..
  • Ohio’s JobsOhio is offering a program for businesses with a current JobsOhio’s existing loan only that offers a payment deferment (no interest and no principal payments) for the next six months to fifty companies who are eligible, with over 9,500 employees around Ohio.
  • Ohio’s JobsOhio is offering a program for existing JobsOhio client businesses only that expands allowable expenses and near-term relaxed compliance audit allowing expenses such as work from home technology and equipment and services to implement guidance associated with COVID-19.
  • Ohio’s JobsOhio is planning a program for small business in Ohio’s small communities in partnership with 2 Ohio community banks to support their existing loan portfolio with JobsOhio investing up to $50 M in loan guarantees.
    Ohio’s JobsOhio is planning to invest up to $50 M of reserve funds to backstop Ohio’s Port Authorities, and they anticipate this investment will result in over $250 M of additional Port Authority investment activity across Ohio.
  • Ohio’s JobsOhio launched a Personal Protective Equipment and medical supply program to purchase $250M in PPEs.
  • Ohio’s Data Center Tax Abatement provides a sales-tax exemption rate and term that allow for partial or full sales tax exemption on the purchase of eligible data center equipment. Projects must meet minimum investment and payroll thresholds to be eligible.
  • Ohio’s JobsOhio Economic Development Grant is a discretionary, cash grant program that awards funds based upon the number of jobs, level of investment, location, economic impact and importance to the state.
  • Ohio’s JobsOhio Growth Fund provides capital for expansion projects to companies that have limited access to funding from conventional, private sources of financing, and JobsOhio will consider loans to companies that are in the growth, established or expansion stage and that have generated revenue through a proven business plan.
  • Ohio’s JobsOhio Research and Development Center Grant facilitates the creation of corporate R&D centers in Ohio to support the development and commercialization of emerging technologies and products.
  • Ohio’s Research and Development Investment Grant and Loan Fund provides grant and loan financing ranging from $500,000 to $5 M for projects primarily engaging in R&D activity.
  • Oklahoma Investment /New Jobs Tax Credit Package provides a choice of a tax credit based upon investment or new employees, the five-year credit is on the greater of 1% per year of investment in new, depreciable property, or $500 per new job based upon a company investing a minimum of $50,000, the number of employees must not decrease, and qualified property includes all machinery, fixtures, buildings, and improvements to buildings on a year-to-year basis, and the credit may double to 2% of investment or $1,000 per job if a business locates in an Enterprise Zone or if the amount exceeds $40 M.
  • Oklahoma may award grants of up to $1,000,000 to local communities to assist new business locations or expansions for projects with companies paying at least 110% of the average county wage for all new jobs and at least 51% of new jobs must be made available to low- and moderate-income persons, and the State also offers industrial access road assistance designed to aid local industrial development efforts by funding access facilities connecting a specific industry or industry area to the state or local road system.
  • Oklahoma provides a sales tax exemption for equipment bought by businesses engaged in computer services or data processing, so long as most of the revenue comes from out-of-state sales.
  • Oklahoma Quality Jobs Incentive Program provides a 10-year cash incentive up to 5% of new payrolls for companies paying high-wage and creating $2.5 M in new, annual payrolls within three years, offer health insurance to employees, and some companies must attain 75% out-of-state sales.
  • Oklahoma Quick Action Closing Fund allows the Governor discretion to approve infrastructure grants in support of projects creating jobs paying wages greater than the average county wage where jobs are created and the expenditure of funds must be a likely determining factor in locating or retaining a high-impact business location to the State.
  • Oklahoma Tax Increment Financing permits cities to use a portion of property taxes generated within the district to invest in the district’s infrastructure, providing further incentive for private investment to support job retention and attraction.
  • Oklahoma’s 21st Century Quality Jobs Program awards cash payments to knowledge based companies in high-growth industries creating at least ten, full-time jobs at an annual wage typically 300% of the average county wage, reduces out-of-state sales requirements from 75% to 50%, maintains healthcare requirements, and the program maximizes eligible incentives increasing the cash incentive to 10% of payroll to be paid in cash on a quarterly basis.
  • Oklahoma’s Small Employer Quality Jobs Program provides quarterly incentive payments to businesses with 500 or fewer employees as much as 5% of new, taxable payroll for up to seven years for companies with qualifying payrolls must be attributable to annual salaries at least 110% of the average county wage where the jobs are located; companies must also attain 35% out-of-state sales during the first two years in the program and 60% thereafter.
  • Oregon Business Expansion Program provides a forgivable loan, the cash-based incentive is equivalent to the estimated increase in income tax revenue for new hiring for a “traded” company like manufacturing must plan to hire 50 or more full-time employees (or equivalent) in the State in addition to the, at least, 150 employees the entity has overall paying 150% or higher than the state or county average wage, whichever is less, or 130% if hired to work outside a metropolitan area.
  • Oregon Business Investment Program is available statewide for projects approved of by local governments or in a Strategic Investment Zone developed by “traded-sector” businesses, such as manufacturing firms with exceptional capital outlays for technology and research, large dollar investments in employees, well-trained workforces, major impacts on the economy, and low impacts on public services per dollar invested, by exempting a portion of threshold capital investment, $100M in urban and $25M elsewhere, from property taxes for up to a 15 year term.
  • Oregon Enterprise Zone Program’s 74 E Zones designated by local governments award new building structures, structural modifications, newly installed machinery but not land or previously used property for companies that increase full-time employment inside the Zone by the greater of one new job or 10%, have no concurrent job loss outside the Zone, maintain minimum employment during the exemption, and engage in job-training as well as conform to any local conditions total exemption from property tax normally assess on a new plant and equipment for non-retail businesses’ location or expansion for a period of three to five consecutive years.
  • Oregon has no sales tax and companies can receive property tax exemptions in local enterprise zones such as in Hillsborough.
  • Oregon Investment Advantage Program is targeted to specified counties by awarding entities with an up-to-10-year corporate income tax holiday for companies creating five jobs, paying 100% of current county wage with operations that are the first of their kind anywhere in Oregon for that company and the operations of the business do not compete with local, existing businesses.
  • Oregon Regional Infrastructure Fund provides grants and loans to local governments for projects supporting regional and community economic development, a Grant & Loan Review Committee makes the final determination of project and award amounts and is comprised of diverse members from across the State, any city, county, or other local authority is eligible for the program, an eligible project supports growth, addresses a regional priority, supports job creation and retention, does not rely upon continuing subsidies, and is ready for implementation upon approval, and, after internal review, the committee will make final recommendations and enter contract with the local government for a final amount in grant or loan.
  • Oregon Tax Increment Financing allow cities with populations greater than 50,000 to use a portion of property taxes generated within the district to invest in the district’s infrastructure for job retention and attraction.
  • Oregon’s Business Oregon’s Small Business Loan Modifications and Forgiveness program defers payments and interest, with no fees, provides loan modifications for the Business Oregon loan guarantee and loan loss reserve programs and forgiveness of existing loans through Business Oregon to Community Development Financial Institutions (CDFIs), to strengthen the CDFIs’ financial position and ability to continue small business lending.

 

  • Pennsylvania First Program is a comprehensive funding tool used to facilitate investment and job creation with the Commonwealth that includes grants, loans, and loan guarantees and may utilized by eligible businesses, municipalities, and local development authorities for costs related to machinery, job training, infrastructure, and site preparation, and projects must offer substantial economic impact either for the state or the region in question, contain a private match, and create/preserve jobs.
  • Pennsylvania Industrial Development Authority COVID-19 Working Capital Access program provides critical working capital financing to small businesses located within the Commonwealth that are adversely impacted by the COVID-19 outbreak, and all CWCA loan applications must be submitted through a Certified Economic Development Organization.
  • Pennsylvania Local Economic Revitalization Tax Assistance Program (LERTA) allows local taxing authorities to provide real property tax exemptions (10-year exemption) applied to the value of the new construction and the value of the real property improvement for projects involving new construction or which result in improvement to industrial or commercial business property located within a LERTA Zone and approval is required from all local taxing authorities including school districts.
  • Pennsylvania Tax Credit for New Jobs offers a non-refundable credit available to businesses agreeing to create 25 new jobs or expanding existing workforce by 20% within three years with 25% of the credits must go to businesses with fewer than 100 employees, and any eligible business may receive $1,000-per-job tax credit used to offset various business tax liabilities associated with the new jobs.
  • Pennsylvania’s Computer Data Center Equipment Incentive Program provides a tax refund for sales and use tax paid on qualified computer data center equipment utilized within a facility certified to participate in the program by the Pennsylvania Department of Revenue. Total refund for the program may not exceed $5 M.
  • Pennsylvania’s Infrastructure and Facilities Improvement Program offers grants to issuers of debt to assist payment of debt service, eligible entities may include authorities issuing debt for Tax Increment Financing, redevelopment authorities, municipal entities, and the Pennsylvania Economic Development Financing Authority, and, depending on the project and the amount of debt issued, grants range from $200,000 a year for 10 years to $1 M per year for 20 years.
  • Pennsylvania’s Manufacturing Tax Credit Program (MTC) provides tax credits to taxpayers increasing their annual payroll by at least $1,000,000 via the creation of new full-time equivalents, and the credits are awarded equal to 5% of the taxpayer’s increase in taxable payroll at $1,000,000 above a predetermined base year amount.
  • Rhode Island’s Infrastructure Bank leverages a limited capital, revolving loan fund, offers financing options for infrastructure projects including water and wastewater, road and bridge, and brownfield remediation.
  • Rhode Island’s Qualified Jobs Incentive Tax Credit offers biomed., IT, data analytics, defense and shipbuilding businesses an annual, redeemable tax credits for up to 10 years for at least 10 jobs being created with the first 500 jobs approved under the program will receive the maximum credit available, credits may equal up to a maximum of $7,500 per job per year.
  • Rhode Island’s Tax Increment Financing offers municipalities infrastructure financing by rebating a portion of the new state tax revenue generated by an economic development project, projects must first demonstrate a “gap” in its financing before a local entity may approve a TIF, tax revenue rebates may not exceed 30% of the total project cost or 75% of incremental revenue generated.
  • South Carolina Fee-In-Lieu of Property Taxes (FILOT) is a discretionary program available for companies making substantial capital investments to negotiate lower assessment ratios and stabilize millage rates with a home county for up to 30 years, the long-term savings of the FILOT is based on actual investments and dependent on both the assessment and millage rates of the home county, a county may negotiate with a company for a FILOT agreement given capital investment of $2.5 M or more over a five-year period, a company may include both real and person property under its FILOT agreement, though property previously on tax rolls within the state is not eligible, under a FILOT, payments to local governments are significantly reduced through the negotiation of a lower assessment rate and a locked-in millage rate for up to 30 years on the property subject to the new agreement
  • South Carolina Five-Year Property Tax Abatement allows manufacturers and distribution/corporate headquarters facilities investing $50,000 or more creating 75 new jobs in one year may receive a five-year property tax abatement from county operating taxes which is an offset of up to 20% to 50% of the total millage in a county and does not include the school portion of the local millage, the abatement may not be combined with property placed under a Fee-in-Lieu agreement, the state also offers local property tax exemptions for rehabilitating abandoned textile mills, other abandoned buildings, and does not levy property tax on inventories, tangible property, and pollution control equipment.
  • South Carolina Investment Tax Credit allows manufacturers locating or expanding in South Carolina a one-time credit against that company’s corporate income tax of up to 2.5% of a company’s investment in new production equipment.
  • South Carolina Job Tax Credit offers companies relocating or establishing a corporate headquarters or a manufacturing, distribution, processing, service-related, and research/development business in state a non-refundable tax credit eliminating up to 50% of tax liability for a credit ranging from $1,500 to $25,000.
  • South Carolina offers a sales tax exemption on computer equipment and electricity used in data centers that invest at least $50 M and employ at least 25 people in well-paying jobs.
  • South Carolina Research and Development Tax Credit offers a credit equal to 5% of an entity’s qualified research expenses defined by the Internal Revenue Code, the credit may not exceed 50% of the company’s remaining tax liability, and unused credits may be carried forward for ten years.
  • South Carolina Rural Infrastructure Fund provides financing for qualified rural counties infrastructure needs related to an economic development project, and the Economic Development Set-Aside Program assists companies in locating or expanding in South Carolina through funding local governments for road, water/sewer infrastructure and site improvements related to job creation or expansion.
  • South Carolina Tax Increment Financing allows a municipality to incur debt for the redevelopment of an underserved or stressed area and use additional property tax revenue generated by the redevelopment to pay off that incurred debt.
  • South Carolina’s Corporate Headquarters Credit offers a 20% non-refundable tax credit based upon the value of the actual portion of the facility dedicated to the headquarters of the operation or for 20% of the first five years of direct lease costs may be available applied against either corporate income tax or the license fee and may eliminate corporate income tax for as long as ten years from the year earned if the company creates a minimum of 40 full-time jobs at a headquarters or working in research and development, classify 20 of these jobs as staff employees, and serve as a true corporate headquarters, and businesses may receive an enhanced credit in creating 75 jobs with an average compensation more than two times the state per capita income.
  • South Carolina’s Corporate Income Tax Moratorium offers companies in distressed counties a up to a 10-year moratorium and 15-year moratorium if company is creating 200 jobs to eliminate their state, corporate income tax liability for up to ten to 15 years. To qualify, at least 90% of a company’s total investment in the State must be in a county where the unemployment rate is twice the state average.
  • South Carolina’s Job Development Credit is a discretionary, performance-based incentive which rebates a portion of a new employees’ withholding taxes awarded based upon the location of the facility and hourly wages paid with payment ranges from 2% to 5% of the location’s payroll and a company may receive such payments for up to 15 years and payments may be used to offset the cost of rents, investments in fixed assets such as land, buildings, and infrastructure to companies creating a minimum of ten, new, full-time jobs with benefits, and payment of a $4,000 application fee.
  • South Dakota Local Infrastructure Improvement Program provides grants to local economic development corporations, tribal governments, municipalities, counties, or other political subdivision to construct or reconstruct public infrastructure associated with economic development projects.
  • South Dakota MicroLOAN Program offers low-interest loans for up to as $1,000 and as much as $100,000 made in conjunction with lead leaders – a bank, credit union, or another approved lender and the loan comes with a 3% fixed interest rate with a 10-year term depending on the size of the loan.
  • South Dakota Revolving Economic Development and Initiative Fund is available to start-up firms, businesses expanding or relocating to the State, as well as to economic development corporations that provides low-interest loan provides up to 45% of a project’s total cost and requires a 10% minimum equity contribution and may be used for permanent financing for the purchase of land, construction, acquisition, renovation as well as for equipment with interest rates are fixed at 2% including a 10-to-20-year amortization based upon the assets financing, with a balloon payment due after five years, and job creation is a factor in determining the ultimate loan amount and the project must meet certain wage and benefit requirements.
  • South Dakota Tax Increment Financing permits municipalities or counties to create TIF districts into one of four areas: local, industrial, economic development, and affordable housing, these TIF district classification are a function of the state-aid to education formula and determines how a given TIF district impacts school funding in the State, a local designation may be used to make public infrastructure improvements for various reasons so long as the project is generally for the benefit of the local government creating the district as opposed to regional or statewide benefit.
  • South Dakota’s Small Business Relief Fund provides small business with 250 less employees impacted by COVID 19 with a strong credit score with financing.
  • South Dakota’s Jobs Grant Program is a discretionary program available to assist companies in offsetting the upfront costs associated with relocating or expanding operations and/or upgrading equipment in the State, and the program allows project owners to receive grants for new or expanded facilities with project costs less than $20,000,000 or for equipment upgrades costing less than $2,000,000.
  • South Dakota’s Reinvestment Payment Program is a discretionary program overseen by the Board of Economic Development reserved for highly competitive projects focused on education, housing, infrastructure, local economic development efforts, and large and small project needs that provide payments to projects more than $20,000,000 or for equipment upgrades more than $2,000,000.
  • Tennessee Fast Track Infrastructure Program makes discretionary grants available to local governing bodies for public infrastructure improvements, grants must be for specific projects benefiting one or more companies creating jobs or making capital investments and must include a local match based on a community’s ability to pay, eligible projects include those affecting rail, public roadways, ports, airports, as well as water, sewer, and gas, eligibility for and the amount of all Fasttrack grants are determined by the number of full-time jobs, amount of company investment, location of the project (at-risk counties 35% premium and distressed counties 50% premium), average wage of new jobs, and other factors.
  • Tennessee Job Tax Credit offers non-refundable and non-transferable tax credit equal to $4,500 per job and can offset up to 50% of a business entity’s franchise and excise tax liability in a calendar year and may be carried forward for 15 years for a business to create a minimum of 25 new jobs during a 36-month period and invest at least $500,000 in a qualified business enterprise.
  • Tennessee offers sales and use tax exemptions for the manufacturing industry (sales of industrial machinery and utilities), corporate headquarters, warehouse, and distribution facilities, call centers, data centers, and for research and development facilities.
  • Tennessee offers sales tax breaks on computer equipment and electricity for data centers that invest at least $250 M.
  • Tennessee permits its local governing bodies including cities and counties to engage in Tax Increment Financing to capture increases in property value affecting tax liability are used to recover the cost of TIF improvements over time until the debt is exhausted for economic development projects.
  • Tennessee’s Enhanced Job Tax Credit provides an Enhanced Job Tax Credit to offset up to 100% of its Franchise and Excise Tax in a calendar year for up to a $4,500 credit, a business must create 25 new jobs within 36 months in a Tier 2 zone, 20 new jobs within 60 months in a Tier 3 zone, and 10 new jobs within 60 months in a Tier 4 zone.
  • Tennessee’s Fasttrack Economic Development Fund is designed for exception projects to offset the cost to companies expanding or relocating business operations to Tennessee with grants made to local governing bodies and then reimbursed to companies offsetting the retrofitting of buildings, acquiring real property, relocation of equipment, and other expenditures not covered under other Fast Track programs.
  • Tennessee’s Super Job Tax Credit is a $5,000 per job tax credit for either companies making a capital investment of $100 M or more and creating a minimum of 100 new jobs paying at least 100% of Tennessee’s average occupational wage or companies establishing or expanding a regional, national or international headquarters with a capital investment of $10 M or more and creating 100 HQ jobs paying at least 150% of Tennessee’s average occupational wage.
  • Texas Capital Fund Infrastructure Development Program provides funding for public infrastructure (water, sewer, roads, etc.) needed to assist a business which commits to create and/or retain permanent jobs primarily for low and moderate-income persons
  • Texas Capital Fund provides infrastructure funding for rural, non-entitlement areas generally defined as cities with fewer than 50,000 residents or counties with less than 200,000 residents, with minimum and maximum awards of $50,000 and $1,500,000 respectively and may not exceed 50% of the total project cost. .
  • Texas’ Data Center Tax Exemption – Data Center projects involving at least 100,000 sq. ft. resulting in the creation of at least 20 qualified jobs and a capital investment of at least $200 M over a 5-year period can qualify for a 100% exemption on sales and use tax
  • Texas’ Enterprise Fund awards final-state and targeted local governments can use voters approved “deal-closing” grants to companies considering a new project for which one Texas site is competing with other out-of-state sites, focused on significant capital investment and job creation, designed as a cash grant and is calculated according to a uniform analytical model for each applicant in consideration of number of jobs, timeline, and capital investment with projected job creation to exceed 75 full-time jobs in urban areas and 25 in rural areas, total average wage must meet or exceed the county, it must be supported by local jurisdictions, and the company must operate in an advanced industry.
  • Texas Enterprise Zone Program is a state sale and use tax refund program in destressed Enterprise Zones designated by local communities, the exact benefit amount is calculated based on the company’s planned capital investment and job creation and/or retention at the qualified business site.
  • Texas offers a Sales and Use Tax Exemption for taxpayers who manufacture, fabricate, or process tangible property for sale and the Freeport Exemption for property tax exemptions for types of goods detained in the State for 175 days or less.
  • Texas Product Development and Small Business Incubator Fund offers long-term, asset-backed loans to product development companies and small business incubators with a preference given for semiconductors, nanotechnology, biotech., and biomedicine, and loans generally range from $1 M – $5 M based upon the discretion of the staff and board of the program and exist for a term of 15 or 20 years depending on the type of project.
  • Texas Sales Tax Exemption or Franchise Tax Credit for Qualified Research for a person engaged in qualified research can claim either a sales and use tax exemption on depreciable, tangible, personal property used for qualified research or a franchise tax credit based on qualified research expenses, and the amount of the credit is 5% of the difference between the qualified research expense incurred in Texas; it cannot exceed 50% of franchise tax liability.
  • Texas’ Tax Increment Financing allows cities to use a portion of property taxes generated within the district to invest in the district’s infrastructure, providing further incentive for private investment, may be used for land acquisition, demolition and removal, relocation, infrastructure, and other uses, and carry no maximum duration and terminate when project costs are paid in full.
  • Utah High Cost Infrastructure Tax Credit provides a company expanding or creating new, industrial, mining, manufacturing, or agricultural activity, generate new state revenue directly attributed to new infrastructure, and are comprised of at least 10 % of investment, funding for energy delivery systems, water delivery systems, road improvements, railroads and natural resource development a non-refundable tax credit of 30% of qualifying infrastructure-related state revenue during a tax period, and the total tax credit authorized for a project will be 50% of the cost of the investment.
  • Utah Research Activities Credits offers companies a credit on 5 % of qualified expenses for increasing research activities in Utah above a base amount, 5 % of certain payments made to a qualified organization increasing basic research in Utah above a base amount, and 7.5 % of qualified research expenses for the current taxable year.
  • Utah Rural Economic Development Incentive Grant provides non-retail business located in rural communities between $4,000 and $6,000 per employee up to $250,000 based upon the employee’s location and wage.
  • Utah State Job Creation Tax Credit or Economic Development Tax Increment Financing Tax Credit is a post-performance, refundable credit which may rebate up to 30% of new state revenues (sales, corporate, and withholding Maines paid to the State) over the life of the project (usually 5-10 years) for companies seeking relocation to the State or expansion in Utah for businesses creating 50 jobs in urban counties paying at least 110% of the county wage of location.
  • Utah Tax Increment Financing allows local redevelopment agencies to incentivize economic development project by capturing the growth in property taxes generated within the district to invest in the district’s infrastructure such as land acquisition, demolition and removal, relocation, infrastructure, and other uses, local government approval required, earmark tax revenue growth for community development programs and usually lasting for 10-15 years.
  • Utah’s Enterprise Zone Tax Credit Program is an incremental tax credit program up to $750 for each new job up to a maximum of 30 full time paying above county average wage-credits and an additional $500 credit if the new position pays at least 125% of the average county monthly wage for the specific industry may be claimed by eligible businesses locating or expanding in enterprise zones in Utah.
  • Utah’s Industrial Assistance Fund (IAF) is a post-performance, discretionary grant for the creation of high-paying jobs for companies who create at least 50 new jobs in urban counties paying at least 110% of the urban or rural county average wage, project must obtain a commitment from local governments to provide local incentives, enter into an incentive agreement with the Governor’s Office of Economic Development specifying performance milestones, demonstrate company stability and profitability, and have competition with other locations.
  • Vermont Employment Growth Incentive is a discretionary program designed to encourage business recruitment, growth, and expansion by offering performance-based cash incentives for job and payroll creation and capital investment occurring before the incentive.
  • Vermont State R&D Tax Credit is a refundable credit applied to state and federal tax liabilities to offset costs spent performing qualifying research up to 27% of the corresponding federal credits and may be carried over as far as ten years.
  • Vermont’s Tax Increment Financing authorizes municipalities to create a TIF district to capture the future growth of tax revenue, voters must then authorize municipal bonds or other debt to finance construction or improvement of public infrastructure to serve the TIF District, as the infrastructure is built and improved, the private sector follows with investments in new and renovated buildings, while the infrastructure debt is being repaid, the entire Original Taxable Value, or base level of annual property taxes generated within the District goes to the Education Fund, for Districts created and approved by VEPC after 2017, up to 70% of the increased property tax revenue is retained by the municipality to finance infrastructure debt. A minimum of 30% of the increased revenue is sent to the Education Fund, after 20 years, the grand list value of the properties within the TIF District are substantially increased because the infrastructure investment supports and enables increased private sector investment, and from that point forward, the base and the entire increase in property tax revenue are paid to the Education Fund in perpetuity.
  • Virginia cities, counties, and towns may offer Tax Increment Financing by creating special taxing districts, allocating a portion of the revenue from property taxes in those districts to finance construction of improvements which include purchase price of any project acquired by the locality or the cost of acquiring all of the capital stock of the corporation owning the project and the amount to be paid to discharge any obligations in order to vest title to the project or any part of it in the locality, the cost of improvements, property or equipment, the cost of construction or reconstruction, the cost of all labor, materials, machinery and equipment, the cost of all land, property, rights, easements and franchises acquired, financing charges, interest before and during construction and for up to one year after completion of construction, start-up costs and operating capital, the cost of plans and specifications, surveys and estimates of cost and of revenues, the cost of engineering, legal and other professional services, expenses incident to determining the feasibility or practicability of the project, payments by a locality of its share of the cost of any multi-jurisdictional project, administrative expense, any amounts to be deposited to reserve or replacement funds, and other expenses as may be necessary or incident to the financing of the project. Any obligation or expense incurred by the locality in connection with any of the foregoing items of cost may be regarded as a part of the cost and reimbursed to the locality out of the proceeds of bonds issued to finance the project, the local governing body must adopt an ordinance designating the TIF area and use excess revenues to pay off debt incurred to fund public improvements which in turn induce growth.
  • Virginia Collaborative Economic Development Performance Grant provides grants to localities entering regional collaborative economic development programs to encourage location and expansion of companies in their region.
  • Virginia discretionary incentives provides grants to businesses from the Agriculture & Forestry Industries Development Fund, the Major Eligible Employer Grant Program, the Virginia Economic Development Incentive, the Commonwealth’s Development Opportunity Fund, and the Virginia Investment Performance Grant.
  • Virginia Economic Development Access Program is a state-funded incentive to assist localities in providing adequate road access to new and expanding manufacturing and processing companies, research and development facilities, distribution centers, and other businesses with at least 51% of the company’s revenue generated from outside Virginia, projects must be affiliated with a basic employer and the site must not have adequate access to a publicly maintained road, and the maximum EDA award for an access road is $500,000 and the business must work with a local entity to apply.
  • Virginia Enterprise Zone- Real Property Investment Grant provides grants to investors undertaking rehabilitation, expansion, or new construction projects within the boundaries of a specific zone with the threshold is $100,000 for rehabilitation or expansion projects and $500,000 for new construction projects.
  • Virginia Enterprise Zone-Job Creation Grant program provides grants to businesses creating high-wage, full-time permanent positions with health benefits in a designated zone within the State with annual cash grant up to $800 per job may be provided for up to five years.
  • Virginia Green Job Creation Tax Credit incentivizes the development of green, high-paying jobs in Virginia with a tax credit equal to $500 per job applied against Virginia individual or corporate income tax for each new, green job that pays an annual salary of at least $50,000.
  • Virginia International Trade Facility Tax Credit is designed to allow for either capital investment in an international trade facility or increasing jobs related to such a facility that shows at least 5% increase in shipments through the Virginia Port Authority, and the amount of the credit is equal to $3,500 per new, qualified, full-time employees which results from increased trade or 2% of qualified investment expenses made by the taxpayer to facilitate increased trade.
  • Virginia Major Business Facility Job Credit offers an income tax credit equal to $1,000 per new job created in excess of a qualifying threshold amount in a county for businesses who create 51 new jobs in a tier 1 zone and at least 26 in a tier 2 zone.
  • Virginia Major Research and Development Tax Credit offers companies incurring $5 M in qualified research and development expenses during a calendar year an income tax credit equal to 10% of the difference between this year’s qualifying expenses and 50% of the average amount of the qualifying expenses for the three previous years, and if a business does not have previous expenses in at least one of the prior three, the amount of the credits equals 5% of the current year’s expenses but the total amount of the credit claimed cannot be greater than 75% of total tax liability, may be carried forward for ten years, and is capped at $20 M in total credit allocation.
  • Virginia offers a sales tax exemption for data center equipment to those data centers that qualify by meeting both a capital investment and employment threshold.
  • Virginia Port of Virginia Economic and Infrastructure Development Grant provides a maximum grant allowable per qualified company of $500,000 with a maximum state-wide total of $5 M, the applicants must create at least 25 new, full-time jobs, engage in maritime commerce, and participate in a specific economic sector, and businesses may qualify for a second round.
  • Virginia Research and Development Tax Credit offers companies a refundable credit incurring $5 M or less in qualified research and development expenses in a calendar year, up to 15% of the first $300,000 in qualified expenses or 20% of the first $300,000 in expenses if conducted in conjunction with a Virginia college or university but the credit is capped at $7 M statewide.
  • Virginia Transportation Partnership Opportunity Fund is awarded at the discretion of the Governor in the form of grants, revolving loans, or other methods to a local government. Funds may be used for any transportation project or any facility within Virginia and the Governor is authorized to award grants up to $5 M as well as interest-free loans up to $30 M, to be eligible, the applicant must be a local government or agency, the project must address a local transportation need, and either retain jobs or meet economic development criteria, funding may be used for any transportation project within the Commonwealth, and the State also offers rail industrial access program funding for industrial/commercial projects developing Virginia’s economy.
  • Virginia’s Port Volume Increase Tax Credit is designed to incentive manufacturing, distribution, agriculture, and other companies using Virginia’s port facilities for a company increasing Virginia port usage by 5% in a single, calendar year are eligible for a credit in the amount of $50 per 20-foot equivalent unit, it is applied to TEUs more than base year cargo. (75 net short tons of non-containerized cargo, 10 loaded TEUs, etc.), and a company may only receive up to $250,000 applied to a company’s corporate income tax.
  • Washington Community Economic Revitalization Board provides local communities with funding to support public infrastructure driving growth and expansion in the economy, eligible projects can include domestic and industrial water, storm water, wastewater, public buildings, telecoms, and port facilities, the Board may award planning grants of up to $50,000 with a 25% cash match required of total project cost; the project must be ready to proceed within four months of approval and be completed in two years and may also award up to $2 M in loan maximum for construction costs as well as up to $300,000 in subsidy or 50% of the total request, whichever is lesser (subject to requirements).
  • Washington has a sales tax exemption for data center equipment in certain rural or developing areas of the state.
  • Washington Multiple Activities Tax Credit offers companies a tax credit so that the Business and Occupancy Tax is paid only once for the same product for aerospace, high tech., smelting, forestry, and biomass businesses with statewide activities, and credits are subject to restrictions by industry.
  • Washington Rural County/CEZ Business and Occupation Tax Credit Program is available to businesses (manufacturers, labs, and commercial testing facilities) locating in a rural county or within a CEZ who creates new employment or increase in-state employment by 15% and will receive a credit equal to $2,000 per position with annual wages/benefits of $40,000 or less and $4,000 with annual wages/benefits greater than $40,000.
  • Washington’s Community Revitalization Financing permits local jurisdictions creating an “increment area” to finance public improvements using increased, local property taxes and are calculated on a 75% basis on any increase in assessed value, Local Infrastructure Financing Tool permits local financing of infrastructure projects whereby sales and use as well as local property taxes are used in increments to pay for public infrastructure improvements (can be used to match a limited amount of a state contribution), a Hospital Benefit Zone Financing Program which does not include property taxes but captures the growth of sales and use taxes are used as the increment in the zone, and Local Revitalization Financing and Local Infrastructure Project Area Financing are also available to accomplish similar aims with certain revenue streams and restrictions.
  • Washington’s Governor’s Strategic Reserve Fund is a discretionary job creation and retention incentive which may be used for Workforce Development Incentive purposes or to prevent the closure of a business or facility, to prevent the relocation of a business or facility outside the State, or to recruit a business or facility to the State.
  • West Virginia High-Tech Manufacturing Credit provides companies investing in computers, peripheral equipment, electronic components, and semiconductors creating at least 20 new jobs within one year after the initial investment is made and may receive a tax credit offsetting 100% of the corporate income / personal income tax for 20 years.
  • West Virginia qualifying data centers can receive both a sales tax exemption and a property tax abatement on equipment.
  • West Virginia Tax Increment Financing allows its local jurisdictions to utilize to enhance urban renewal, after freezing the tax base for properties located within a specified zone, property taxes levied against the frozen base continue to provide revenue to local tax authorities, property taxes levied against any increased property values within the zone are redirected to the taxing authority created by the TIF financing improvements in the zone until the TIF ends.
  • West Virginia’s Corporate Headquarters Credit offers a non-refundable credit offsetting up to 100% of business and occupation, corporate net income, and personal income tax liability for a period of up to 13 years when the business creates 15 new jobs in the State within the first year of relocation.
  • West Virginia’s Economic Opportunity Credit offers companies creating at least 20 new jobs within a specified time limit or at least 10 jobs in the case of a qualified small business a tax credit up to 80% of the employer’s corporate net income and personal income tax so a company may offset up to 100% of its corporate net income tax or personal income tax if the requisite number of jobs pays an annual median wage higher than the state’s average non-farm wage.
  • West Virginia’s Infrastructure and Jobs Development Council awards funds to be used by private companies, public utilities, and county development authorities for infrastructure improvements which support economic development initiatives, and the West Virginia Economic Development Authority offers both direct and indirect loan programs which may be used for the acquisition of land or buildings and Industrial Revenue Bonds to provide more customized financing.
  • Wisconsin Business Development Tax Credit Program offers a refundable tax credits to reduce the eligible businesses’ income tax liability for job creation equal up to 10% of annual wages paid to employees earning at least 150% of the federal minimum wage, may cover up to 50% of eligible job training costs, up to 3% of capital investment in business personal property (5% in real property), and up to 10%. of annual wages for positions created or retained at corporate headquarters.
  • Wisconsin Economic Development Corporation approved $5 M in funding for Small Business 20/20 that will provide grants of up to $20,000 to targeted businesses with no more than 20 employees to cover rent and to meet payroll expenses, including paid leave (including sick, family and other leave related to COVID-19).
  • Wisconsin Enterprise Zone Program awards refundable tax credits up to 7% of annual wages for newly created jobs, up to 100% of job-training costs, up to 10% for capital expenditures, and up to 1% of supply chain expenses for up to 12 years to eligible companies for job creation, job retention, capital investment, and training to reduce state income tax liability or provide a refund in locally designated EZs designated on a case-by-case basis.
  • Wisconsin Tax Increment Financing permits a local government to define a Tax Increment District (TID), the entity identifies projects to encourage desired development, as property values rise, the municipality uses the property tax above a frozen base to pay for the identified public improvement projects until the project costs are paid and the TID is closed.
  • Wisconsin’s Department of Transportation’s State Infrastructure Bank Program is a revolving loan program available to communities to preserve, promote, and encourage economic development via efficiency and safety in public transportation initiatives, SIB loans carry lower than market rate interest, longer payback periods, and may be used in conjunction with other programs or to finance a project entirely, counties, cities, villages, and towns may apply on a first come, first serve basis for projects improving access to nearby industrial sites, or improvements to and construction of roads and bridges.
  • Wyoming also offers manufacturing sales tax exemptions, data center sales tax exemptions (for centers with $5 M investment in capital infrastructure, $2 M in center equipment purchases or at $50 M in capital infrastructure, HVAC).
  • Wyoming Business Ready Community Grant and Loan Program provides financing for publicly owned infrastructure that serves the needs of business and promotes economic development within Wyoming communities, cities, town, counties, and joint power boards as well as Indian tribes are eligible to apply for funding stimulating growth at the local level, eligible grant and loan activities include infrastructure for water, sewer, streets, telecommunications, airports, rights of way, land, industrial parks, education and workforce training facilities, and other costs, and the typical maximum award is around $3 M.
  • Wyoming’s Managed Data Center Cost Reduction Grant is a part of the Business Ready Community Grant and Loan Program whose primary purpose is to incentive growth and expansion of data centers, the program reimburses data centers for broadband and electrical costs, and, while the maximum grant award is $2.25 M over a three-year period, the actual amount is based upon minimum match required and the wage paid to employees by the operator.