VOICE
Advocacy in action: NAMA is the universally recognized and influential advocate of the convenience services industry.
Tax Benefits and Incentives for Convenience Services Operators
In today's competitive marketplace, convenience services operators can seek new opportunities to adapt and thrive. With tax credits, incentives and government programs often underutilized, identifying these opportunities can be a game-changer for small businesses in this industry. The NAMA Tax Benefits and Incentives for Convenience Services Operators report is designed to help operators unlock financial advantages and relief measures that may not be top of mind.
This state-by-state guide highlights a range of tax credits and incentive programs specifically relevant to the convenience services industry, offering operators clear application instructions and links to find further information. While this report emphasizes programs tailored to the convenience services industry, you know your business and its unique needs.
Discover tax benefits and incentives specific to you by clicking on your state below!
Alabama
ALABAMA SMALL BUSINESS AND AGRIBUSINESS JOBS ACT CREDIT
ALABAMA DEPARTMENT OF REVENUE
The Act provides a one-time income tax credit to qualifying small businesses that create new jobs paying more than $40,000 annually.
Eligibility Requirements
To be eligible for the credit:
- The new employee must be hired after July 25, 2016, and only applies to tax years beginning on or after January 1, 2016.
- The total number of full-time employees residing in Alabama on the last date of each tax year during which employees are hired must be greater than the number of employees in Alabama on July 25, 2016, less any employees for which a credit has been previously claimed.
- The number of qualifying new employees cannot exceed the number of employees at the end of the year minus the number of employees at the beginning of the tax year.
Application Information
An employer that qualifies for the Alabama Small Business and Agribusiness Jobs Act Credit, must have an active My Alabama Tax (MAT) account, and must complete the precertification process that is required through MAT before the Alabama Small Business and Agribusiness Jobs Act Credit can be claimed as an offset to tax on an Alabama income or excise tax return.
FULL EMPLOYMENT ACT OF 2011
ALABAMA DEPARTMENT OF REVENUE
The Full Employment Act of 2011 offers a one-time tax credit of $1,000 for each new job created by small businesses located in Alabama.
Eligibility Requirements
A small business is defined as a business that employs 50 or fewer employees as of June 9, 2011.
To be eligible for the credit:
- The new employee must be hired after June 9, 2011.
- The wages for the new job must be more than $10 per hour.
- The total number of full-time employees in Alabama on the last day of each tax year during which employees are hired must exceed the number of employees in Alabama as of the last day of the tax year immediately preceding the first employment year.
Additional provisions:
- The credit is not refundable or transferrable but is available to owners of pass-through entities on a pro rata basis.
- This credit is not available to employers who claim the credit provided under the Alabama Small Business and Agribusiness Jobs Act Credit. However, both credits can be claimed by the same employer as long as both credits are not taken for the same employee.
- The credit is allowed for income tax and for financial institution's excise tax.
Application Information
An employer that qualifies for the Full Employment Act of 2011 Credit, must have an active My Alabama Tax (MAT) account, and must complete the precertification process that is required through MAT before the Full Employment Act of 2011 Credit can be claimed as an offset to tax on an Alabama income or excise tax return.
Additional information available from the Alabama Department of Revenue.
INVENTORY TAX EXEMPTION
ALABAMA DEPARTMENT OF REVENUE
Alabama does not levy a property tax on inventory of goods, wares and merchandise that is offered for sale.
Eligibility Requirements
Contact the Alabama Department of Revenue for details.
Alabama Department of Revenue
Property Tax
P.O. Box 327001
Montgomery, AL 36132
Phone: (334) 242-1525
Fax: (334) 242-0145
Additional information available from the Alabama Department of Revenue.
MUNICIPAL BUSINESS LICENSE ABATEMENT
ALABAMA DEPARTMENT OF REVENUE
The Municipal Business License Abatement allows municipalities to let businesses abate all or a portion of business license taxes for up to three years.
Eligibility Requirements
The business or taxpayer complies with the abatement of sales or use taxes.
Application Information
Contact the Alabama Department of Revenue for more details.
Alabama Department of Revenue
50 North Ripley Street
Montgomery, AL 36104
Phone: 334-242-1175
Additional information available from the Alabama Department of Revenue.
VETERANS EMPLOYER ACT BUSINESS START-UP EXPENSE CREDIT
ALABAMA DEPARTMENT OF REVENUE
This program incentives recently deployed unemployed veterans to start their own businesses.
Eligibility Requirements
The credit is only applicable to business started after April 2, 2012, that is located within Alabama and that shows a net profit of at least $3,000 in the year in which the credit is taken.
Application Information
A business that qualifies for the Veterans Employment Act Business Start-up Expense Credit must have an active My Alabama Tax (MAT) account and must complete the precertification process that is required through MAT before the Veterans Employment Act Business Start-up Expense Credit can be claimed as an offset to tax on an income tax return.
Additional information available from the Alabama Department of Revenue.
VETERANS EMPLOYMENT ACT EMPLOYER CREDIT
ALABAMA DEPARTMENT OF REVENUE
Veterans Employment Act (previously known as the Heroes for Hire" tax credit) provides a tax credit to qualifying businesses for each unemployed or combat veteran hired for a full-time position paying at least $14 per hour.
Eligibility Requirements
The credit applies to individual and corporate income taxes or the state portion of the financial institution excise tax. The additional credit shall be available in the tax year during which the employee has completed twelve months of consecutive employment. A combat veteran is defined as a member of the Armed Forces of the United States who served in a United States Department of Defense designated combat zone and was a resident of the State of Alabama at the time of his or her service.
Application Information
A business that qualifies for the Veterans Employment Act Employer Credit must have an active My Alabama Tax (MAT) account and must complete the precertification process that is required through MAT before the Veterans Employment Act Employer Credit can be claimed as an offset to tax on an income or excise tax return.
Additional information available from the Alabama Department of Revenue.
2017 ALABAMA HISTORIC REHABILITATION TAX CREDIT
Alabama Historic Commission
The 2017 Alabama Historic Rehabilitation Tax Credit provides for a refundable income tax credit against the tax liability of the taxpayer for the rehabilitation, preservation, and development of historic structures.
ALABAMA INDUSTRIAL ACCESS ROAD AND BRIDGE PROGRAM
Alabama Department of Transportation
This program provides financial assistance to communities for industrial access to new and expanding industries.
ALABAMA JOBS ACT
Alabama Department of Commerce
Provide for incentives to qualifying projects to stimulate job creation and capital investment through the Jobs Credit and Investment Credit.
ALABAMA RESEARCH AND DEVELOPMENT ENHANCEMENT FUND (ARDEF) PROGRAM
Alabama Department of Economic and Community Affairs
A grant for Alabama Research Entities to conduct research and development activities within the state of Alabama.
APPRENTICESHIP CREDIT
Alabama Office of Apprenticeship
The Alabama Industry Recognized and Registered Apprenticeship Program offers a tax credit to companies that hire qualified apprentices who receive classroom or industry-specific instruction and on-the-job training.
BASIC SKILLS EDUCATION CREDIT
Alabama Department of Revenue
This credit is available to resident and nonresident employers who provide basic skills education programs approved by the Alabama Department of Education to employees.
BROWNFIELD DEVELOPMENT TAX ABATEMENTS
Alabama Department of Revenue
The Brownfield Development Tax Abatement Act gives cities and counties the ability to abate non-educational county and city sales and use taxes and non-educational state, county, and city property taxes up to 20 years, in re-development areas.
BUSINESS PRIVILEGE TAX DEDUCTION
Alabama Department of Revenue
An entity can deduct from their Alabama net worth the net amount invested by the taxpayer on aircraft operations used by an air carrier with a hub operation within this state, for commerce for transporting people or property by air as well as pollution control equipment.
CERTIFIED CAPITAL COMPANY PROGRAM
Alabama Department of Commerce
The Alabama Certified Capital Company program, commonly referred to as CAPCO, is bringing new investments, jobs and opportunity to small businesses and communities across the state CAPCO financing, an alternative to conventional bank financing, can accommodate a slightly higher risk profile an provide a more flexible structure for growing businesses.
COAL TAX CREDIT
Alabama Department of Revenue
Every corporation that is doing business in Alabama, as a producer of coal mined in Alabama, shall be allowed a tax credit in the amount of $1 per ton of increased production of coal over the previous years production of coal.
ECONOMIC DEVELOPMENT REVOLVING LOAN FUNDS
Alabama Department of Economic and Community Affairs
The Economic Development Revolving Loan Funds Program is used to work with commercial lenders for projects in non-entitlement communities. Fixed rate financing, at below market rates, is directly available through twelve Alabama Regional Councils.
ENTERPRISE ZONE PROGRAM
Alabama Department of Economic and Community Affairs
The Alabama Enterprise Zone Act provides certain tax incentives to corporations, partnerships and proprietorships that locate or expand within designated Enterprise Zones. In addition to state-level tax incentives, businesses may also receive local tax and non-tax incentives for locating or expanding within a designated Enterprise Zone.
ENTERTAINMENT INDUSTRY INCENTIVES
Alabama Film Office
A qualified production company shall be entitled to a 25 percent rebate of all state certified expenditures and 35 percent of all payroll paid to residents of Alabama for the state certified production.
GROWING ALABAMA CREDIT
Alabama Department of Commerce
The program provides for a tax credit to Alabama income taxpayers who make contributions to Economic Development Organizations (EDO) for approved qualifying projects.
INDUSTRIAL DEVELOPMENT GRANT PROGRAM
Alabama Industrial Development Authority
The State Industrial Development Authority is authorized to sell bonds to make grants to pay for site preparation for land owned or possessed by lease.
INDUSTRIAL DEVELOPMENT TRAINING PROGRAM
Alabama Industrial Development Training Institute
AIDT, an independent agency under the supervision and oversight of the Secretary of Commerce, encourages economic development through job-specific training. Training services are offered in many areas, at no cost, to new and expanding businesses throughout the State.
INVESTMENT CREDIT
Alabama Department of Revenue
The Investment Credit program provides credit to qualifying businesses for approved projects that create new jobs in Alabama. The projects are approved by the Department of Commerce in consultation with the Governor.
NEW MARKETS TAX CREDIT
Alabama Department of Revenue
A tax credit for state income tax, financial institution excise, and insurance premium tax for investors in community development entities which provide funding to businesses that are located in qualified low-income or impoverished communities, especially central business districts. It serves as an alternative to conventional capital sources.
OPPORTUNITY ZONE INVESTMENT INCENTIVES
Alabama Department of Economic and Community Affairs
The Alabama Incentives and Modernization Act provides Alabama taxpayers the same tax benefits available under federal law when they invest in an approved opportunity fund for qualified projects in low income areas in Alabama that are designated as Opportunity Zones.
PORT CREDIT
Alabama Department of Commerce
The port credit provides for a discretionary income tax credit for businesses that utilize Alabama's port facilities.
PROPERTY TAX AND SALES TAX ABATEMENTS
Alabama Department of Revenue
Businesses can apply to cities, counties, and public industrial authorities to abate property and sales tax associated with constructing and equipping a qualifying project.
QUALIFIED IRRIGATION SYSTEM/RESERVOIR SYSTEM TAX CREDIT
Alabama Department of Revenue
This program provides an income tax credit to any agricultural trade or business for the cost associated with the purchase, installation or conversion related to irrigation systems or the development of irrigation reservoirs and water wells.
RAIL CREDIT
Alabama Department of Commerce
The program provides for a refundable tax credit equal to 50 percent of an eligible taxpayer's qualified railroad rehabilitation expenditures.
SALES AND USE TAX INCENTIVES
Alabama Department of Revenue
Alabama has three state rate differentials for their Sales and Use Tax and an exemption of Sales and Use Taxes for abatements, exemptions for specific items, and certain exemptions and credits for qualifying industries.
Alaska
ALTERNATIVE ENERGY LOAN PROGRAM
ALASKA DEPARTMENT OF COMMERCE, COMMUNITY, AND ECONOMIC DEVELOPMENT
Loans may be made to purchase, construct and install alternative energy systems or energy conservation improvements in commercial buildings.
Eligibility Requirements
Contact the Department of Revenue for more information.
Application Information
Taxpayers must obtain pre-approval from the Alaska Department of Natural Resources and submit certain data as part of the application process for exploration well projects. Credit applications under AS 43.55.025 are audited prior to issuance of the credit certificates. Certificates must be eventually issued, but the credit may also be applied to tax prior to the issuance of a certificate.
Contact Information
Alaska Department of Revenue
Tax Division
550 West Seventh Avenue, Suite 500
Anchorage, AK 99501-3555
Phone: 907-269-6620
Fax: 907-269-6644
COMMERCIAL PROPERTY ASSESSED CLEAN ENERGY (C-PACE)
ALASKA ENERGY AUTHORITY
Commercial Property Assessed Clean Energy, or C-PACE for short, is a financing tool for improving commercial buildings with energy efficiency measures or renewable energy systems.
Eligibility Requirements
Property owners must be the legal record holder of the property for which the property owner wishes to access C-PACE financing. If the applicant will become the owner of the property concurrently upon closing of the C-PACE financing, evidence showing such anticipated transfer reasonably satisfactory to the program administrator will be required. An example of such evidence may include a title insurance policy documenting the requisite conditions of sale and conveyance of the property that are consistent with eligibility requirements of the Program). A leasehold interest on qualifying commercial property is eligible for C-PACE financing with the consent of the fee owner of such commercial property. All owners of the fee simple title to the subject property, or their legally authorized representatives, must sign the final application.
Therefore, before submitting the application, please ensure that all owners (or their representatives) of the subject property will agree to participate in the AK C-PACE Program on these terms.
Additionally, the property owner:
- Must be current on mortgage and property tax payments, including special assessments, special taxes or any other tax liens;
- Must not be insolvent or in bankruptcy proceedings
C-PACE financing is available for privately owned commercial or industrial properties in municipalities or boroughs that have enacted a C-PACE enabling resolution and ordinances. Such properties may include multifamily properties for commercial use and buildings owned by non-profit entities, including houses of worship.
C-PACE financing may be used to finance the installation or modification of permanent improvements that are intended to reduce energy consumption or demand, energy costs, or emissions affecting local air quality, including a product, device, or interacting group of products or devices that use energy technology to generate electricity, provide thermal energy, or regulate temperature (called "Eligible Improvements"). Eligible Improvements that cannot be easily removed from the subject property and remain affixed or attached to the Property during the term of the C-PACE financing are generally considered to be permanently affixed.
Items that are not considered to be permanently affixed include:
- Items such as shading devices, furniture, fire extinguishers, etc.
- Cosmetic improvements (such as painting, new carpeting, etc.)
- Non-commercial / industrial appliances (such as microwaves, non-affixed lighting, and other items not substantially affixed to the property; appliances that provide significant energy or other utility savings and are functionally attached to the property on a long-term basis as in multifamily housing, industrial kitchens, or similar projects may be eligible)
Application Information
Submission of the application for C-PACE financing is one of the last steps in acquiring C-PACE financing. The application package cannot be completed until the proposed Eligible Improvement Project has been fully scoped and developed. Applicants for C-PACE financing will submit a complete application packet to the C-PACE program inclusive of the following documents:
- Application Cover Sheet
- The information submitted through the application cover sheet must exactly reflect the information supported by the rest of the application package.
- Certificate of Eligibility
- Certification executed by the borrower, confirming that the property is not insolvent or in bankruptcy proceedings and that the property is current on all tax and mortgage payments, as included in Exhibit B.
- Property Card
- The applicant will submit a current assessor property card to confirm that the project is located on a qualifying property.
- Title Report
- The title report must include the entire Land Records' history of the property for which the applicant wishes to access C-PACE financing. The title search report must have been executed within 60 days of application approval.
- Mortgage Holder Consent Form, if applicable
- The applicant shall give each holder of a mortgage lien on the property at least 30 days' written notice of the intention of the property owner to utilize C-PACE financing and obtain a written consent from each holder of a mortgage lien on the property. Such consent must be for not less than the total financed amount of the C-PACE assessment.
- Mortgage Release, if applicable
- The applicant will submit copies of filed releases for any mortgages that appear on the title search but have since been released. Any releases which cannot be obtained must be addressed through a title affidavit acceptable to the C-PACE program in its sole discretion.
- Proof of Insurance
- The applicant must hold insurance against damage to the energy improvement project for the life of the assessment.
- Disclosure of Risk
- The applicant will submit an executed Disclosure of Risk as included in Exhibit D.
- Certificate of Eligible Improvements
- The applicant will submit a Certificate of Eligible Improvements completed by an Independent Energy Auditor, as described in "Technical Requirements" above (the form Certificate of Eligible Improvements is attached here as Exhibit E).
- Variance and Savings to Investment Ratio (SIR) Waiver Form, if applicable
- The applicant will submit this form only if a waiver is requested for the maximum loan to value or SIR requirements as described in "Financial Requirements." The applicant will include an appraisal in the application package if submitting this form (attached here as Exhibit G).
- Capital Provider Offer to Fund
- The applicant must provide documentation indicating that a capital provider has offered to provide C-PACE financing for the applicant's C-PACE project (such documentation may be evidenced by a signed term sheet or commitment letter).
- Application Fee
- Application fees due to the program administrator vary per program. Please consult your local C-PACE program administrator for a fee schedule.
Contact Information
Alaska Energy Authority
813 West Northern Lights Boulevard
Anchorage, AK 99503
Phone: 888-300-8534
[email protected]
LOAN PARTICIPATION PROGRAM
ALASKA INDUSTRIAL DEVELOPMENT AND EXPORT AUTHORITY
The AIDEA Loan Participation Program provides permanent financing, both taxable and tax-exempt, to borrowers through a qualified originator for the purpose of developing, acquiring or enhancing Alaska business enterprises.
Eligibility Requirements
The project must be in Alaska and majority-owned by an Alaska resident.
Application Information
The first step is to contact an AIDEA eligible financial institution.
- The financial institution, after its approval of the loan, applies to AIDEA for a guarantee.
- AIDEA loan officers underwrite the financial institution's loan package.
- If approved, AIDEA issues a guarantee certificate to the originating financial institution.
- A $250 non-refundable application fee is due at the time the financial institution submits the guarantee package for AIDEA consideration.
- A 2% one-time guarantee fee is due when AIDEA issues its guarantee to the financial institution.
MICROLOAN LOAN PROGRAM
ALASKA DEPARTMENT OF COMMERCE, COMMUNITY, AND ECONOMIC DEVELOPMENT
The Microloan Loan Program helps commercial ventures in Alaska access needed capital.
Eligibility Requirements
General Requirements:
- Loans may be made for working capital, equipment, construction or other commercial purposes for a business located in Alaska.
- Alaska resident for the 12 months preceding the date of application.
- Loans may not be made to pay costs that were incurred more than six months before loan application.
- Applicant(s) may not have any child support arrearage.
Application Information
A $100 nonrefundable application fee must be submitted with the completed application. A 1% origination fee is due at closing. Borrower is responsible to pay all direct costs incurred in processing an application including title reports and title insurance, recording fees, appraisals, travel or other direct costs.
SMALL BUSINESS ECONOMIC DEVELOPMENT REVOLVING LOAN FUND
Eligibility Requirements
General Requirements:
Companies must be a small business as defined by the Small Business Administration (SBA). The SBA definition includes thresholds for number of employees, net worth and annual net income. Generally, a business must have fewer than 500 employees, have a net worth under $6 million and have an average net income after federal taxes for the preceding two years less than $2 million to qualify.
Applicants are required to match loan funds with cash or other private, non-public financing. In many cases this private match must be one and one half the loan amount requested.
Costs incurred prior to receipt of the loan application by the Division of Economic Development may not be used to meet the private, non-public match requirements.
Loans may not be made if a bank is willing to finance the entire project. Applicants must supply a turn down letter from a lender listing the reason(s) for denial. If a bank is willing to finance a portion of the project to be used as a match for the loan under this program, applicants must supply a letter from the bank explaining the reasons the bank is unable to finance the entire project.
Loans may not be made to applicants that have been debarred or suspended from receiving federal benefits.
Loans must result in the creation or retention of jobs that would be lost in eligible areas.
Provide a copy of valid government issued identification for each applicant at or before loan closing.
Eligible Areas:
Eligibility for the SBED program includes all communities in the state of Alaska with a population of less than 30,000. Loans in communities of 30,000 or more are available on a limited basis, depending on funds availability.
Application Information
Funding is limited. Applicants are encouraged to call and discuss availability of funds prior to submitting a loan application. A $250 nonrefundable application fee must be submitted with the completed application. This fee will be credited toward the origination fee due if the application is approved. A 1% origination fee will be charged ($100 minimum) at the time that the loan is closed. Applicants will be responsible for all closing costs.
To view the loan and extension application, see the website.
SMALL BUSINESS LOAN
ALASKA GROWTH CAPITAL
Alaska Growth Capital provides financing to small, nontraditional borrowers/businesses that use innovative technology, are in rural Alaska, and are minority-owned.
Eligibility Requirements
Niche:
- Borrowers who do not meet traditional bank requirements
- Growth companies with adequate cash flow but limited collateral
- Rural markets
Application Information
Contact Alaska Growth Capital for more information.
STATE TRAINING AND EMPLOYMENT PROGRAM (STEP)
ALASKA DEPARTMENT OF LABOR AND WORKFORCE DEVELOPMENT
STEP fosters economic growth by preparing Alaskans with competitive, employable skills. The program benefits existing companies and attracts new businesses to Alaska by preparing a local workforce skilled in traditional, new, or emerging fields.
Eligibility Requirements
Who should apply for a STEP grant?
Non-profit or for-profit organizations, educators, industry trainers, employers and other organizations should apply for a STEP grant to enhance employee skills to meet industries demand for skilled workers.
Employers or organizations who are seeking training to increase workers skills to meet industry demands for individuals who have contributed to Unemployment Insurance within the last 5 years.
Application Information
The Division of Employment and Training Services administers the STEP grants. When available, the Request of Grant Applications can be found on the state's on-line public notice web site. The Division has implemented a new electronic on-line grant management system, EGrAMS, for performing grant management activities on-line.
VETERAN EMPLOYMENT TAX CREDIT
ALASKA DEPARTMENT OF REVENUE
A taxpayer may take a credit for the employment of a veteran.
Eligibility Requirements
To qualify as a veteran for the purposes of the credit under this section, the veteran must have been unemployed for more than four weeks immediately preceding the date employment begins and must have been discharged or released from military service:
- not more than 10 years before the date employment begins in the case of a veteran who is a disabled veteran; or
- not more than two years before the date employment begins in the case of a veteran who is not a disabled veteran.
Application Information
Apply with form Alaska State Form 6325 when employer files taxes found.
AGRICULTURAL REVOLVING LOAN FUND (ARLF)
ALASKA DEPARTMENT OF NATURAL RESOURCES
The Agricultural Revolving Loan Fund (ARLF) provides moderate interest rate loans for agricultural production or processing operations in Alaska.
AGRICULTURE LOAN
ALASKA COMMERCIAL FISHING AND AGRICULTURE BANK
The Alaska Commercial Fishing and Agriculture Bank provides agriculture loans to Alaskan residents.
ALASKA PRODUCT PREFERENCE PROGRAM
ALASKA DEPARTMENT OF COMMERCE, COMMUNITY, AND ECONOMIC DEVELOPMENT
The Alaska Product Preference (APP) is one of the State of Alaska preferences applied to in-state bids on State contracts, or proposals in response to a request for proposal. Under the State's procurement code, the Alaska Product Preference can provide a local bidder or offeror with a cost preference between three and seven percent.
ALTERNATIVE CREDIT FOR EXPLORATION
ALASKA DEPARTMENT OF REVENUE
Taxpayers who incur qualified exploration expenditures are eligible for this credit against oil and gas production tax. Credits earned for certain work performed on or after July 1, 2016, may be taken against corporate income tax.
BULK FUEL REVOLVING LOAN FUND
ALASKA DEPARTMENT OF COMMERCE, COMMUNITY, AND ECONOMIC DEVELOPMENT
The Bulk Fuel Revolving Loan Fund provides loans for the purchase of new fuel to generate power or supply the public with fuel for use in rural communities.
BULK FUEL UPGRADE PROGRAM
ALASKA ENERGY AUTHORITY
The Alaska Energy Authority€™s Bulk Fuel Upgrade (BFU) program may provide financial assistance and technical assistance including construction management and training to eligible recipients.
CHILD CARE GRANT PROGRAM
ALASKA DEPARTMENT OF HEALTH AND SOCIAL SERVICES
The Child Care Grant Program supports licensed child care providers with monthly cash grants to supplement their program.
COMMERCIAL CHARTER FISHERIES LOAN PROGRAM
ALASKA DEPARTMENT OF COMMERCE, COMMUNITY, AND ECONOMIC DEVELOPMENT
The Commercial Charter Fisheries Loan Program provides affordable loans to Alaskan commercial charter operators. Alaska Commercial Fishing and Agriculture Ban. The authority and mission of the Alaska Commercial Fishing and Agriculture Bank (CFAB) is to provide financing in the form of loans to the commercial fishing, agriculture, tourism and other resource-based industries in Alaska.
COMMERCIAL FISHING LOAN PROGRAM
ALASKA DEPARTMENT OF COMMERCE, COMMUNITY, AND ECONOMIC DEVELOPMENT
The Commercial Fishing Loan Program provides long-term, low interest loans to promote the development of predominantly resident fisheries, and continued maintenance of commercial fishing vessels and gear.
COMMERCIAL LOAN
ALASKA COMMERCIAL FISHING AND AGRICULTURE BANK
The Alaska Commercial Fishing and Agriculture provides loans to Alaskan residents starting a business.
CREDIT FOR FISHERY RESOURCES TO ANOTHER JURISDICTION
ALASKA DEPARTMENT OF REVENUE
Taxpayers that paid taxes on fishery resources to another jurisdiction may claim a credit against the fishery resource landing tax.
EDUCATION TAX CREDIT
ALASKA DEPARTMENT OF REVENUE
The Education Credit is a nontransferable and nonrefundable credit applicable to the corporate income tax, fisheries business tax, fishery resource landing tax, oil and gas production tax, oil and gas property tax, and mining license tax. Taxpayers can claim credit for contributions to Alaska universities and accredited nonprofit Alaska two- or four-year colleges for facilities, direct instruction, research and educational support purposes.
EMERGING ENERGY TECHNOLOGY FUND GRANT PROGRAM
ALASKA ENERGY AUTHORITY
The Emerging Energy Technology Fund Grant Program provides grants for demonstration projects of technologies that have a reasonable expectation of becoming commercially viable within five years and; test emerging energy technologies or methods of conserving energy, improve an existing technology, or deploy an existing technology that has not previously been demonstrated in the state.
FISHERIES ENHANCEMENT LOAN PROGRAM
ALASKA DEPARTMENT OF COMMERCE, COMMUNITY, AND ECONOMIC DEVELOPMENT
The Fisheries Enhancement Loan Program provides loans for planning, construction, and operation of fish hatchery facilities, including preconstruction activities necessary to obtain a permit, construction activities to build the hatchery facility, and costs to operate the facility.
GAS EXPLORATION AND DEVELOPMENT
ALASKA DEPARTMENT OF REVENUE
A taxpayer may take a corporate income tax credit for 25% of qualifying expenditures incurred in exploration and development of natural gas reserves in Alaska.
LOAN GUARANTEE PROGRAM
ALASKA INDUSTRIAL DEVELOPMENT AND EXPORT AUTHORITY
The Business and Export Assistance Loan Guarantee Program provides financial institutions a guarantee of the loan for the acquisition of real or personal property, refinancing, working capital, and export transactions.
MARICULTURE LOAN PROGRAM
ALASKA DEPARTMENT OF COMMERCE, COMMUNITY, AND ECONOMIC DEVELOPMENT
The Mariculture Loan Program provides loans for the planning, construction, and operation of a mariculture business.
MINERALS EXPLORATION INCENTIVE
ALASKA DEPARTMENT OF REVENUE
The credit is for 100% of eligible costs of mineral and coal exploration activities, and is applicable to the corporate income tax, mining license tax and mineral production royalty.
PER BARREL CREDIT
ALASKA DEPARTMENT OF REVENUE
The Per Barrel Credit is a production tax credit for each barrel of oil production on the North Slope.
POWER PROJECT FUND (PPF) LOAN PROGRAM
ALASKA ENERGY AUTHORITY
The Power Project Fund (PPF) loan program provides loans to local utilities, local governments or independent power producers for the development, expansion or upgrade of electric power facilities, including distribution, transmission, efficiency and conservation, bulk fuel storage and waste energy.
RENEWABLE ENERGY GRANT FUND (REF)
ALASKA ENERGY AUTHORITY
The Alaska Renewable Energy Fund (REF) provides benefits to Alaskans by reducing and stabilizing the cost of energy through development of renewable energy projects. The program creates jobs, uses local energy resources, and keeps money in local economies.
RURAL DEVELOPMENT INITIATIVE FUND
ALASKA DEPARTMENT OF COMMERCE, COMMUNITY, AND ECONOMIC DEVELOPMENT
The Rural Development Initiative Fund provides financing for the start-up and expansion of businesses that will create significant long-term employment in Alaska.
ALASKA DEPARTMENT OF COMMERCE, COMMUNITY, AND ECONOMIC DEVELOPMENT
The Small Business Economic Development (SBED) Loan Program provides financing for the start-up and expansion of small businesses that will create significant long-term employment.
Arizona
ARIZONA STATE SMALL BUSINESS CREDIT INITIATIVE
ARIZONA COMMERCE AUTHORITY
Treasury approved application to implement three programs under the SSBCI Initiative: Arizona Loan Guarantee Program, Arizona Venture Co-Invest, Arizona Multi-Fund Venture.
Eligibility Requirements
Arizona Loan Guarantee Program
Borrowers must be an Arizona small business, or eligible non-profit, using the loan proceeds for an eligible business purpose in Arizona. Eligible business purposes include startup costs, working capital, equipment, inventory, the purchase, construction, renovation, or tenant improvements of an eligible place of business that is not for passive real estate investment purposes, and the purchase of any tangible or intangible assets except goodwill. Funds are targeted to Arizona businesses with fewer than 500 employees and can only be provided to businesses with fewer than 750 employees. The number of employees includes any parent company and all locations. Certain business types are ineligible under SSBCI guidelines; see our FAQs for details.
Arizona Venture Co-invest Program - AVC IGNITE
For additional information, please contact the program administrator.
Arizona Multi-fund Venture Capital Program - AVC Limited Partner
For additional information, please contact the program administrator.
Application Information
For questions about Arizona's allocation of SSBCI funding or any of the programs listed, please contact [email protected].
Additional information available from the Arizona Commerce Authority.
HEALTH INSURANCE PREMIUM TAX CREDIT
ARIZONA DEPARTMENT OF REVENUE
The Health Insurance Premium Tax Credit is a tax credit for a participating health insurance company that enrolls qualified individuals and small businesses who were not previously covered by health insurance.
Eligibility Requirements
For a small business to qualify, they must have been in existence in Arizona for at least one year, not have provided health insurance to their employees for at least six consecutive months prior to submitting an application and had at least two but no more than 25 employees during the most recent calendar year. The number of employees includes full-time, part-time and employees that are not eligible for benefits.
If there is no money available under the $5 million credit limit when the application is received, qualified applicants will be placed on a waiting list. Money is released throughout the year and a certificate will be issued when money becomes available. To remain eligible for the credit, the applicant is unable to enroll in health insurance until money becomes available and a certificate is issued.
Application Information
Small businesses should complete form 10724, and individuals should contact the Arizona Department of Revenue.
Additional information available from the Arizona Department of Revenue.
SMALL BUSINESS CAPITAL INVESTMENT INCENTIVE PROGRAM (ANGEL INVESTMENT PROGRAM)
ARIZONA COMMERCE AUTHORITY
The Angel Investment program provides tax credits to investors who make investments in small businesses certified by the Arizona Commerce Authority and by eliminating Arizona capital gains tax liabilities associated with the disposition of investments in those small businesses.
Eligibility Requirements
All the following criteria must be met at the time of investment for the investor to receive an allocation of tax credits.
- An investor may be a "qualified investor" eligible for tax credits if it:
- is an individual, limited liability company, sub-chapter S corporation or a partnership (C corp ineligible),
- submits an application to the Authority within 90 calendar days after making a qualified investment,
- makes qualified investments in one or more qualified small businesses, (Investment amounts made by the investor and its affiliates in a single year up to $500,000 generate tax credits; investment amounts made by the investor and its affiliates over $500,000 do not generate tax credits), and
- immediately before making an investment the investor does not possess, along with its affiliates, more than 30% of the total voting power of all equity securities of the qualified small business.
- An investment may be a "qualified investment" if it:
- is made on or after July 1, 2006,
- is an equity security, and
- is at least $25,000 in cash or cash equivalent such as cashiers check or travelers check, and
- is reported to the Authority within 90 calendar days after the investment is made
- A small business may be a "qualified small business" if it:
- is a corporation, limited liability company, partnership or other business entity (Sole proprietor ineligible),
- maintains a portion of its operations in Arizona,
- has at least two principal non-administrative full-time equivalent employees who are Arizona residents,
- is in the early stages of development and is not principally engaged in activities precluded by the Authority or by statute (A.R.S. § 41-1518(K)(6)),
- does not engage in activities that involve human cloning or embryonic stem cell research,
- does not have assets exceeding $10 million, exclusive of intellectual property and any qualified investment, unless application is made on or before 12/31/11, assets are limited to $2 million or less,
- has not received aggregated qualified investments in excess of $2 million by all qualified investors in all years
Application Information
Apply electronically on the Arizona Commerce Authority's website.
Additional information available from the Arizona Commerce Authority.
ADVANCED MANUFACTURING FACILITIES GRANT
ARIZONA COMMERCE AUTHORITY
The Arizona Advanced Manufacturing Facilities Grant (AMF) is a partnership with Arizona State University. This grant allows discounted pricing for access to an ecosystem in Arizona to lower the barrier to startup innovation and growth in semiconductors. It provides shared semiconductor fabrication and characterization equipment with pilot-scale capabilities at Core Facilities along with specialized services, and expert consultation and training.
ARIZONA ADDITIONAL DEPRECIATION PROGRAM
ARIZONA DEPARTMENT OF REVENUE
Additional depreciation substantially reduces tax liability for most personal property devoted to commercial, industrial and agricultural uses by reducing the taxable value of such property immediately and indefinitely.
ARIZONA COMPETES FUND
ARIZONA COMMERCE AUTHORITY
The Arizona Competes Fund offers a variety of grants to both businesses and municipalities, including Rural Economic Development grants that are designed to partially reimburse municipalities for qualifying rural infrastructure projects that will generate private job creation, and the Arizona Innovation Challenge, which is a business plan competition that encourages new technologies and small business growth.
ARIZONA PROPTECH SANDBOX
ARIZONA COMMERCE AUTHORITY
The Arizona PropTech Sandbox establishes the first property technology sandbox in the United States, giving visionary thinkers a platform to test unique, tech-based property services and products.
AZ STEP PROGRAM
ARIZONA COMMERCE AUTHORITY
The Arizona Commerce Authority has partnered with the Small Business Administration (SBA) to facilitate the Arizona State Trade Expansion Program (AZSTEP). AZSTEP assists Arizona small businesses in entering export markets for the first time or expanding into new markets.
COMPUTER DATA CENTER PROGRAM
ARIZONA COMMERCE AUTHORITY
The Computer Data Center (CDC) program provides sales (Transaction Privilege Tax, or TPT) and use tax exemptions at the state, county and local levels, on qualifying purchases of computer data center equipment.
GOVERNMENT PROPERTY LEASE EXCISE TAX PROGRAM (GPLET)
ARIZONA DEPARTMENT OF REVENUE
The Government Property Lease Excise Tax Program is a redevelopment tool to initiate development by reducing operating costs by replacing the real property tax with an excise tax.
HEALTHY FOREST INCENTIVES PROGRAM
ARIZONA COMMERCE AUTHORITY
The Healthy Forest Enterprise Incentives Program offers incentives to qualified healthy forest enterprise that are primarily engaged in harvesting, processing, or transporting qualifying forest products. International Operations Center Arizona Commerce Authority.
MILITARY REUSE ZONE PROGRAM
ARIZONA COMMERCE AUTHORITY
The Military Reuse Zone Program achieves this goal by providing tax incentives to aviation or aerospace (A&A) companies and airport authorities located within a Military Reuse Zone (MRZ).
MOTION PICTURE PRODUCTION PROGRAM
ARIZONA COMMERCE AUTHORITY
The Arizona Motion Picture Production Program (A.R.S. § 41-1517) was established by the Arizona state legislature in 2022 to promote the workforce development and expansion of the commercial motion picture industry in Arizona. The Program accomplishes this goal by providing a refundable income tax credit under A.R.S. § 43-1082 or § 43-1165 to qualified Motion Picture Production Companies.
POLLUTION CONTROL CREDIT
ARIZONA DEPARTMENT OF REVENUE
Pollution control tax credits provide nonrefundable individual and corporate income tax credits for expenses incurred during the taxable year to purchase real or personal property that is used within Arizona in the trade or business of the taxpayer to control or prevent pollution.
PRIVATE ACTIVITY BONDS (PAB)
ARIZONA COMMERCE AUTHORITY
Private Activity Bonds are securities issued by industrial development authorities to provide debt financing for projects used for the trade or business of a private user.
QUALIFIED FACILITY TAX CREDIT
ARIZONA COMMERCE AUTHORITY
Quality Jobs Tax Credit Program provides tax credits to taxpayers whose demonstrated investment and job creation meet or exceed statutory thresholds.
RENEWABLE ENERGY PRODUCTION TAX CREDIT
ARIZONA DEPARTMENT OF REVENUE
The Renewable Energy Production income tax credits are for the production of electricity using qualified energy resources. The credit is only for qualified energy generators with at least five megawatts generating capacity.
RESEARCH AND DEVELOPMENT INCENTIVE
ARIZONA COMMERCE AUTHORITY
The Research and Development (R&D) incentive provides an Arizona income tax credit for increased research and development activities conducted in this state, including research conducted at a state university and funded by the company.
SALES TAX EXEMPTIONS FOR MANUFACTURERS
ARIZONA DEPARTMENT OF REVENUE
Sales and use tax exemptions are available on equipment used in certain manufacturing activities and for electricity consumption by certain manufacturers.
SMALL BUSINESS INNOVATION RESEARCH (SBIR) AND SMALL BUSINESS TECHNOLOGY TRANSFER (STTR) PROGRAMS
ARIZONA COMMERCE AUTHORITY
The SBIR Training Program is a series of webinars that provides entrepreneurs, small business owners and startups with the local resources and mentors to apply for funding through the SBIR program competitively.
VENTURE RAISE
ARIZONA COMMERCE AUTHORITY
Venture Raise is a 12-week accelerator that focuses on funding options, how to pitch to investors, startup financial health and more. The hybrid course is taught through hybrid learning models, virtual webinars and in-person board of advisor deliberations.
Arkansas
ADVANTAGE ARKANSAS INCOME TAX CREDIT
ARKANSAS ECONOMIC DEVELOPMENT COMMISSION
Advantage Arkansas offers a state income tax credit for job creation based on the payroll of new, full-time, permanent employees hired as a result of the project.
Eligibility Requirements
In order to qualify for the Advantage Arkansas program (all tiers), the proposed average hourly wage of the new employees hired as a result of the project must be equal to or greater than $15.50.
Application Information
Arkansas Economic Development Commission
1 Commerce Way
Little Rock, AR 72202
Phone: 501-352-1431
Additional information available from the Arkansas Economic Development Commission.
ARKPLUS INCOME TAX CREDIT
ARKANSAS ECONOMIC DEVELOPMENT COMMISSION
ArkPlus is a state income tax credit program that provides tax credits of 10% of the total investment in a new location or expansion project.
Eligibility Requirements
Eligibility for the ArkPlus program is dependent upon the tier in which the project is located, as follows:
- For tier 1 counties, the business shall invest $5,000,000 or more and have an annual payroll for new full-time permanent employees in excess of $2,000,000;
- For tier 2 counties, the business shall invest $3,750,000 or more and have an annual payroll for new full-time permanent employees in excess of $1,500,000;
- For tier 3 counties, the business shall invest $3,000,000 or more and have an annual payroll for new full-time permanent employees in excess of $1,200,000; and
- For tier 4 counties, the business shall invest $2,000,000 or more and have an annual payroll for new full-time permanent employees in excess of $800,000.
Application Information
To claim the credits authorized under this program, attach to the tax return a copy of the Certificate of Tax Credit issued by Tax Credits/Special Refunds Section.
Additional information available from the Arkansas Economic Development Commission.
CAPITAL ACCESS PROGRAM
ARKANSAS DEVELOPMENT FINANCE AUTHORITY
The ADFA Capital Access Program makes funds available to borrowers who might otherwise have difficulty in obtaining conventional bank loans.
Eligibility Requirements
Contact the Arkansas Development Finance Authority for details:
Arkansas Development Finance Authority
1 Commerce Way
Little Rock, AR 72202
Phone: (501) 682-5906
Application Information
Application Link
Additional information available from the Arkansas Development Finance Authority.
CREATE REBATE PROGRAM
ARKANSAS ECONOMIC DEVELOPMENT COMMISSION
Create Rebate provides annual cash payments based on a company's annual payroll for new, full-time, permanent employees. This incentive is offered at the discretion of the AEDC Executive Director.
Eligibility Requirements
To receive this incentive, a qualified business shall meet minimum annual payroll thresholds for new full-time permanent employees for the county tier in which the project is located, as follows:
- For tier 1 counties, the annual payroll threshold is at least $2,000,000;
- For tier 2 counties, the annual payroll threshold is at least $1,750,000;
- For tier 3 counties, the annual payroll threshold is at least $1,500,000; and
- For tier 4 counties, the annual payroll threshold is at least $1,250,000.
Payments are subject to the following conditions:
- For tier 1 counties, the incentive is 3.9% of the annual payroll of new full-time permanent employees;
- For tier 2 counties, the incentive is 4.25% of the annual payroll of new full-time permanent employees;
- For tier 3 counties, the incentive is 4.5% of the annual payroll of new full-time permanent employees; and
- For tier 4 counties, the incentive is 5% of the annual payroll of new full-time permanent employees.
Application Information
Arkansas Economic Development Commission
1 Commerce Way
Little Rock, AR 72202
Phone: (501) 682-1121
Additional information available from the Arkansas Economic Development Commission.
ENVIRONMENTAL ASSISTANCE LOW-INTEREST LOANS FOR SMALL BUSINESSES
ARKANSAS DEPARTMENT OF ENVIRONMENTAL QUALITY
ADEQ offers environmental assistance loans for small businesses to purchase equipment or make process changes that fulfill pollution prevention goals.
Eligibility Requirements
Arkansas businesses that employ 100 or fewer individuals and demonstrate proof of profitability and an ability to repay the loan are eligible for the environmental assistance loans.
Equipment that fulfills one of the following pollution prevention goals is eligible for the loan program:
- Elimination or reduction of wastes, effluents, and emissions at the source
- Conservation of natural resources
- Reuse of materials and recycling
- Procurement of environmentally preferable products
Additional Information
Arkansas Department of Environmental Quality
ADEQ Office of Enterprise Services
5301 Northshore Drive
North Little Rock, AR 72118
Phone: 501-682-0816
Fax: 501-682-0880
Additional information available from the Arkansas Department of Energy and Environment.
OFFICE OF SKILLS DEVELOPMENT GRANTS
ARKANSAS DEPARTMENT OF COMMERCE
The Office of Skills Development makes strategic investments in the state's workforce through OSD Training Grants. These grants support local businesses and the Arkansas workforce by providing funding and support for professional employee development, reduce gaps in worker skills, and provide customized technical training.
Eligibility Requirements
Eligibility:
- Any for-profit or non-profit registered, legal entity that has been in operation in Arkansas during the entire twelve-month period immediately preceding the date of proposal. Exceptions may be considered on an individual basis.
- Entities applying for OSD Grants must be current on all state and federal tax obligations, and there must not currently exist any ongoing or pending litigation concerning a company's tax liability, either federal or state.
- Recipients of training under OSD Grants must be U.S. citizens or legally authorized to work full time without restriction in the U.S.
- Trainees must be employed in or otherwise residents of Arkansas, or students at an Arkansas institution.
- Applicants must disclose all funding contributing to the success of the project/ training.
- A purpose of OSD Grants is to increase the capacity of state-supported educational institutions and organizations to supply the ongoing training needs of Arkansas companies. Where practicable, OSD Grant applicants shall use such state-supported educational institutions and organizations and leverage requested funding to increase the capacity of same to supply ongoing training needs. OSD may request additional information, including documentation, regarding the credentials and employment status or other relationship of the training provider or consultant with a state-supported institution.
- Proposals must include a fiscal agent that will be responsible for managing grant funds, maintaining receipts and records, submitting the final report including financial details, and preparing for project assessments, reviews, and, as appropriate audits.
- Training that is mandated by any state or federal law or regulation is generally not eligible for funding by OSD Grants. Certain safety training courses may be allowed if part and parcel to industry-specific, customized technical training. Notwithstanding the foregoing, at the discretion of the Governor's Workforce Cabinet, some training mandated by law or regulation may be fundable as Professional Development or Grow Our Own training per below.
- OSD Grants funding priorities correspond to Arkansas economic development priorities. Examples of such priorities comprise manufacturing and production, transportation and material moving, computer and information technology, healthcare and life sciences, agriculture and forestry, construction, and STEM.
- OSD Grants are intended to support training that raises skill levels such that earning potential increases.
- Upon request, current documentation demonstrating that applicants meet the foregoing eligibility requirements must be provided.
Application Information
A full list of required materials and documents are found on the program website.
Additional information available from the Arkansas Office of Skills Development.
RECYCLING EQUIPMENT TAX CREDIT
ARKANSAS DEPARTMENT OF ENVIRONMENTAL QUALITY
The Recycling Equipment Tax Credit Program encourages recycling by allowing Arkansas taxpayers a 30 percent state income tax credit for the purchase of equipment used exclusively for collecting, separating, processing, modifying, converting, or treating solid waste or for manufacturing products containing at least 50 percent recovered materials of which at least 10 percent is post-consumer waste. The cost of installation is also eligible.
Eligibility Requirements
Expenditures eligible for tax credit certification:
- waste reduction, reuse or recycling equipment used exclusively for waste reduction, reuse or recycling of solid waste for commercial purposes, whether or not for profit, including the cost of installation of such equipment by outside contractors;
- waste reduction, reuse or recycling equipment must be used exclusively in the collection, separation, processing, modification, conversion, treatment or manufacturing of products containing at least fifty percent (50%) recovered materials, of which at least ten percent (10%) of the recovered materials shall be post-consumer waste;
- the cost of replacing existing waste reduction, reuse or recycling equipment shall be eligible for certification only if the replacement provides greater capacity for recycling or provides the capability to collect, separate, process, modify, convert, treat, or manufacture additional or a different type of solid waste. The amount of the tax credit shall equal 30% of the cost of equipment and installation costs deemed eligible by the Arkansas Department of Environmental Quality. Credits may be carried forward for three consecutive years following the taxable year in which the credits accrued.
- Taxpayers receiving credit under this Act for the purchase of machinery and equipment shall not be entitled to any other state or local tax credit or deduction based on the purchase of the machinery or equipment, except normal depreciation.
A taxpayer must be engaged in the business of reducing, reusing, or recycling recovered material for commercial purposes in Arkansas, in order to be eligible for tax credit certification.
Application Information
To receive the tax credit, you must submit an Application for Certification of Eligibility to DEQ with the required invoices and information detailed in the application instructions.
If you expect to purchase recycling equipment and want to find out if the purchase will meet the tax credit requirements, you can submit an Application for Preliminary Approval to DEQ at least 30 days before making the purchase. Applications for both the Certification of Eligibility and Preliminary Approval must be submitted electronically through E&E's ePortal system.
Additional information available from the Arkansas Department of Energy and Environment.
REPLACEMENT AND REPAIR OF MANUFACTURING MACHINERY AND EQUIPMENT SALES AND USE TAX REFUND
ARKANSAS ECONOMIC DEVELOPMENT COMMISSION
Machinery and equipment used directly in manufacturing that are purchased for a new manufacturing facility or to replace existing machinery and equipment are exempt. Machinery and equipment required by Arkansas law to be purchased for air or water pollution control or for removal of sulfur pollutants from refined petroleum are also exempt.
Eligibility Requirements
To qualify for this discretionary refund, a taxpayer shall:
- Be eligible for a refund of taxes under §§ 26-52-447 or 26-53-149 (partial replacement and repair of certain machinery and equipment).
- Hold a direct pay or a limited direct pay sales and use tax permit from the DFA; and when claiming the refund, shall file their monthly direct pay sales and use tax report using the Department's electronic tax report filing system.
- Enter into a financial incentive agreement with the AEDC for the major maintenance and improvement project prior to incurring project expenditures.
- Expand at least $3 million on an approved major maintenance and improvement project that includes that purchase of tangible personal property and services that are either exempt or subject to partial refund of tax.
- File a completed Manufacturing Replacement and Repair Sales and Use Tax Refund Application with the AEDC.
- Receive approval from the Executive Director of the AEDC to receive the increased refund of sales and use taxes for the major maintenance and improvement project.
Application Information
Contact the agency for more information:
Arkansas Economic Development Commission
1 Commerce Way
Little Rock, AR 72202
Phone: 501-682-5275
Additional information available from the Arkansas Economic Development Commission.
TARGETED BUSINESSES INCENTIVES
ARKANSAS ECONOMIC DEVELOPMENT COMMISSION
Targeted Business Incentives, offered at the discretion of the Executive Director of the Arkansas Economic Development Commission, provide special incentives designed to help new, knowledge-based, start-up businesses in their early years.
Eligibility Requirements
To qualify as a targeted business, companies must meet the following requirements and be classified by AEDC in one of the six targeted emerging technology sectors listed below:
- Be less than five years old
- Show proof of an equity investment of at least $250,000
- Pay at least 150% of the lesser of the state or county average hourly wage where the business is located
- Meet requisite payroll thresholds
Additional eligibility criteria may be required for individually targeted programs (sales and use tax refund for targeted businesses, payroll income tax credit for targeted businesses, payroll rebate for targeted business and targeted ArkPlus).
The six target emerging technology sectors are:
- Advanced materials and manufacturing systems, with emphasis on electronics manufacturing, energy-efficient storage devices, environmental issues related to materials and manufacturing, photonics and nanotechnology, and photovoltaics;
- Information technology, with emphasis on database systems, distributed systems, knowledge and data engineering, software development, state of the art applications of information technology to bioinformatics and/or healthcare, and wireless systems;
- Biotechnology, bioengineering, and life sciences, with emphasis on biopharmaceuticals and drug discovery, cell molecular biology, genetics, geriatrics, medical devices, neuroscience, oncology, protein structure and function, rehabilitation, and sensor technology;
- Agriculture, food, and environmental sciences, with emphasis on agricultural medicine, aquaculture, distributed energy generation, energy reduction, forestry, nutrition, poultry, rice, spatial technology, toxicology, and waste minimization;
- Bio-based products, with emphasis on adhesives, automotive components, biodiesel, engineered products from non-traditional biomass sources, ethanol, methanol, polymers, and synthetic transportation fuels; and
- Transportation logistics, with emphasis on automated systems, intelligent material handling, and transportation management systems.
The additional incentives for targeted businesses and eligibility requirements can be found on the program website.
Additional Information
Contact Arkansas Economic Development Commission:
Arkansas Economic Development Commission
1 Commerce Way
Little Rock, AR 72202
Phone: 501-682-5996
Additional information available from the Arkansas Economic Development Commission.
ACT NATIONAL CAREER READINESS CERTIFICATE AND JOB PROFILING
ARKANSAS ECONOMIC DEVELOPMENT COMMISSION
The State of Arkansas has partnered with ACT to deliver the National Career Readiness Certificate (NCRC) to job seekers and companies. The NCRC is an evidence-based credential that certifies essential skills for workplace success.
AGRICULTURAL WATER QUALITY LOAN PROGRAM
ARKANSAS DEPARTMENT OF AGRICULTURE
The Arkansas Natural Resources Commission, in conjunction with conservation districts and participating banks, provides low-interest loan money to agricultural landowners for installation of conservation practices that reduce nonpoint source pollution impacts to water quality.
APPRENTICESHIP PROGRAM
ARKANSAS DEPARTMENT OF FINANCE AND ADMINISTRATION
This program provides for an income tax credit for each qualified youth apprentice who is at least 16 years of age and is employed to learn an apprentice able occupation or is in an apprenticeship or work-based learning program.
ARKANSAS BROWNFIELD PROGRAM
ARKANSAS DEPARTMENT OF ENVIRONMENTAL QUALITY
The Arkansas Brownfield Program helps communities redevelop underutilized or vacant sites where contamination or prohibitive cleanup costs may be a barrier.
ARKANSAS ENERGY PERFORMANCE CONTRACTING
ARKANSAS DEPARTMENT OF ENVIRONMENTAL QUALITY
Energy Performance Contracting (EPC) is a tool for paying for efficiency upgrades such as lighting, chillers, boilers, water systems, and renewable generation over time.
ARKANSAS GROWN GRANT FOR NORTHWEST ARKANSAS FARMERS PILOT PROGRAM
ARKANSAS DEPARTMENT OF AGRICULTURE
The Arkansas Department of Agriculture and the Walton Family Foundation have partnered to offer a pilot program directly benefiting Northwest Arkansas farmers residing and farming in Benton, Washington, Madison, and Carroll counties. This pilot program offers grant funding to eligible farmers who are committed to increasing capacity for wholesale fruit and vegetable production, resulting in more local food.
ARKANSAS HISTORIC REHABILITATION INCOME TAX CREDIT
ARKANSAS HISTORIC PRESERVATION PROGRAM
This program allows taxpayers to claim a portion of their investment in historic properties as a credit on their state income taxes.
ARKANSAS PUBLIC ROADS IMPROVEMENTS CREDIT
ARKANSAS ECONOMIC DEVELOPMENT COMMISSION
This program provides an incentive to any individual, fiduciary, or corporation subject to Arkansas state income tax to make contributions in aid of the construction of public roads by providing an income tax credit based on the amount of the taxpayer's contribution.
ARKANSAS SMALL BUSINESS GUARANTY PROGRAM
ARKANSAS DEVELOPMENT FINANCE AUTHORITY
The Arkansas Small Business Guaranty Program provides a source of capital to Arkansas small business enterprises.
ARKANSAS VENTURE CAPITAL DEVELOPMENT FUND
ARKANSAS DEVELOPMENT FINANCIAL AUTHORITY
Provides matching investments in Arkansas technology-based companies, in various stages of growth and development, that are seeking private equity funding from angel, seed and venture capital investors.
ARKANSAS VENTURE DEVELOPMENT FUND
ARKANSAS DEVELOPMENT FINANCIAL AUTHORITY
Provides matching investment in proven, professionally managed private equity and venture capital funds, located either within or outside the State of Arkansas, that commit to aggressive and visible deal prospecting, and direct investment in Arkansas companies along with investment in out of state companies.
ARKANSAS WATERFOWL RICE INCENTIVE CONSERVATION ENHANCEMENT
ARKANSAS GAME AND FISH COMMISSION
The Arkansas Game and Fish Commission and Natural Resources Conservation Service are offering financial incentives to rice producers through the Voluntary Public Access and Habitat Incentive Program to increase flooded waterfowl habitat on working farms and allow public access to their land for hunting and other wildlife-dependent recreation.
ARKANSAS WOOD ENERGY PRODUCTS AND FOREST MAINTENANCE TAX CREDIT
ARKANSAS ECONOMIC DEVELOPMENT COMMISSION
Act 594 of 2021 provides an income tax credit equal to 30% of the purchase price of qualifying equipment with a required investment of $50,000,000 for the project.
BIODIESEL INCENTIVE ACT
ARKANSAS DEPARTMENT OF FINANCE AND ADMINISTRATION
The Biodiesel Incentive Act provided an income tax credit to biodiesel suppliers equal to 5 percent of the cost of facilities and equipment used directly in the wholesale or retail distribution of biodiesel fuels.
BOND GUARANTY PROGRAM
ARKANSAS ECONOMIC DEVELOPMENT COMMISSION
The Bond Guaranty Program guarantees timely payment of principal and interest, providing the bonds a better rating, thereby making the bonds more attractive to investors and reducing the company's cost to borrow money.
BUSINESS AND TECHNOLOGY ACCELERATOR GRANT
ARKANSAS ECONOMIC DEVELOPMENT COMMISSION
The Arkansas Business and Technology Accelerator Grant provides discretionary grants to eligible applicants to sponsor business and technology programs to mentor start-up companies. A Business and Technology Accelerator is defined as full-time, immersive program administered by an eligible applicant to potentially invest in, mentor, and accelerate commercial development of start-up businesses.
CHILD CARE FACILITY - EMPLOYER PROVIDED EARLY CHILDHOOD PROGRAM
ARKANSAS DEPARTMENT OF EDUCATION
Act 987 of 1993, as amended by Act 850 of 1995, allows an income tax credit of 3.9% of the annual salary of personnel employed exclusively for providing childcare services to the business's employees, or a $5,000 income tax credit for the first tax year the business provides its employees with a childcare facility.
COAL MINING INCOME TAX CREDIT
ARKANSAS DEPARTMENT OF FINANCE AND ADMINISTRATION
An income tax credit of $2.00 per ton of coal mined, produced, or extracted on each ton of coal mined in Arkansas in a tax year.
COMPANY CHILDCARE FACILITIES TAX CREDIT
ARKANSAS ECONOMIC DEVELOPMENT COMMISSION
Arkansas offers tax incentives for businesses that provide childcare for their employees.
CONSERVATION DISTRICT GRANTS
ARKANSAS DEPARTMENT OF AGRICULTURE
The purpose of this program is to enhance the capability of conservation districts to carry out conservation within their respective districts.
DELTA GEOTOURISM INCENTIVE
ARKANSAS DEPARTMENT OF FINANCE AND ADMINISTRATION
This program provides an income tax credit to geotourism-supporting businesses approved by the Arkansas Department of Parks and Tourism that invests a minimum of $25,000.
DIGITAL PRODUCT MOTION PICTURE INCENTIVE
ARKANSAS ECONOMIC DEVELOPMENT COMMISSION
A production expenditure rebate is offered to digital/film production projects.
DISADVANTAGED BUSINESS ENTERPRISE PROGRAM
ARKANSAS DEPARTMENT OF TRANSPORTATION
The Disadvantaged Business Enterprise (DBE) program is designed to remedy ongoing discrimination and the continuing effects of past discrimination in federally assisted highway, transit, airport, and highway safety financial assistance transportation contracting markets nationwide. The primary remedial goal and objective of the DBE program is to level the playing field by providing small businesses owned and controlled by socially and economically disadvantaged individuals a fair opportunity to compete for federally funded transportation contracts.
EQUIPMENT DONATION OR SALE BELOW COST OR QUALIFIED RESEARCH CREDIT
ARKANSAS DEPARTMENT OF FINANCE AND ADMINISTRATION
A credit is granted against a taxpayer's Arkansas corporate income tax or Arkansas individual income tax for donation equipment to a qualified educational institution in connection with a qualified education program or qualified research program.
EQUITY INVESTMENT TAX CREDIT
ARKANSAS ECONOMIC DEVELOPMENT COMMISSION
The Equity Investment Incentive Program is a discretionary incentive and is targeted toward new, technology-based businesses that pay wages in excess of the state or county average wage.
FUTURE FIT
ARKANSAS ECONOMIC DEVELOPMENT COMMISSION
The Future Fit program helps to place qualified individuals directly into well-paying jobs with participating companies throughout Arkansas. Participants of Future Fit will complete a training program that will prepare them for entry-level employment with these companies.
GOVERNOR'S QUALITY AWARD PROGRAM
ARKANSAS INSTITUTE FOR PERFORMANCE EXCELLENCE
The Governor's Quality Award Program was developed to provide opportunities for all organizations in the state to measure their progress in the journey of performance excellence. The Award is used by all types of businesses: health care, schools, government agencies and all kind of organizations including for-profit, not-for-profit, small, large, growing, mature any organization interested in improving its performance.
GROUNDWATER CONSERVATION TAX CREDIT PROGRAM
ARKANSAS DEPARTMENT OF AGRICULTURE
Arkansas Department of Agriculture provides tax credits for taxpayers that conserve the use of groundwater.
INDUSTRIAL DEVELOPMENT BOND GUARANTY PROGRAM
ARKANSAS DEVELOPMENT FINANCE AUTHORITY
Because many companies who qualify for taxable and/or tax-exempt financing do not have the financial strength to access national capital markets, ADFA acts as a guarantor of the bond issue to make the bonds marketable to bond buyers nationwide. The guarantee provides the necessary credit enhancement for the bondholder and takes the place of a Line of Credit or Bond Insurance.
INDUSTRIAL REVENUE BONDS
ARKANSAS ECONOMIC DEVELOPMENT COMMISSION
Industrial revenue bonds (IRBs), commonly known as Act 9 Bonds in Arkansas, provide eligible existing companies with competitive financing options for property, plant and equipment expenses.
INFRASTRUCTURE GRANTS
ARKANSAS ECONOMIC DEVELOPMENT COMMISSION
This program shares the cost of project infrastructure needs by committing grants from federal and state infrastructure funds.
LOW-INCOME HOUSING TAX CREDIT
ARKANSAS DEVELOPMENT FINANCE AUTHORITY
The Low-Income Housing Tax Credit (LIHTC) program gives state and local LIHTC-allocating agencies authority to issue tax credits for the acquisition, rehabilitation, or new construction of rental housing targeted to lower-income households.
MAJOR REHABILITATION INCOME TAX CREDIT
ARKANSAS HISTORIC PRESERVATION PROGRAM
The owners of historic Arkansas properties who invest in qualified rehabilitation projects may be eligible for a tax credit.
MILITARY AFFAIRS GRANT PROGRAM
ARKANSAS ECONOMIC DEVELOPMENT COMMISSION
Funds allocated to the Military Affairs Grant Program may be granted to applicants meeting eligibility requirements for projects and programs that strengthen and sustain military installations in Arkansas.
MINORITY BUSINESS ENTERPRISE AND WOMEN-OWNED BUSINESS ENTERPRISE
ARKANSAS ECONOMIC DEVELOPMENT COMMISSION (AEDC)
Act 1080 of 2017, amended the Minority Business Economic Development Act by expanding eligibility regarding programs and services under the Act to include women-owned business enterprises.
QUICK ACTION CLOSING FUND
THE ARKANSAS ECONOMIC DEVELOPMENT COMMISSION
The Governor's Quick Action Closing Fund (QACF) is an essential tool for economic development in Arkansas. The QACF allows the Governor to act quickly and decisively in a highly competitive recruitment situation to finalize an agreement with a company to locate an economic development project in the state.
RAILROAD MODERNIZATION ACT OF 2021
ARKANSAS ECONOMIC DEVELOPMENT COMMISSION
Act 967 of 2021 created the Railroad Modernization Act. The Act authorizes eligible taxpayers to claim an income tax credit in the amount of 50% of railroad track maintenance expenditures.
RESEARCH AND DEVELOPMENT TAX CREDITS
ARKANSAS ECONOMIC DEVELOPMENT COMMISSION
Arkansas's Research and Development incentive programs are intended to provide incentives for university-based research, in-house research, and research and development in start-up, technology-based enterprises. Tax credits under these programs may be carried forward for nine years and may offset up to 100% of a business' tax liability in a given year.
RESEARCH PARK AUTHORITY
ARKANSAS DEPARTMENT OF FINANCE AND ADMINISTRATION
The program authorizes a credit against a taxpayer's Arkansas corporate income tax or Arkansas individual income tax equal to thirty-three percent (33%) of a donation made to an accredited institution of higher education to support a research park authority.
RICE STRAW TAX CREDIT
ARKANSAS DEPARTMENT OF FINANCE AND ADMINISTRATION
An income tax credit in the amount for each ton of rice straw that is purchased by an Arkansas taxpayer who is the end user of the straw.
SALES USE TAX REDUCTION ON ELECTRICITY AND NATURAL GAS
ARKANSAS ECONOMIC DEVELOPMENT COMMISSION
The Sales Tax Reduction on Electricity and Natural Gas reduces the tax on electricity and natural gas for manufacturing firms.
SBIR MATCHING GRANT
ARKANSAS ECONOMIC DEVELOPMENT COMMISSION
This grant program was created to leverage the federal SBIR program.
SEED CAPITAL INVESTMENT PROGRAM
ARKANSAS ECONOMIC DEVELOPMENT COMMISSION
The Seed Capital Investment Program (SCIP) can provide working capital to help support the initial capitalization or expansion of technology-based companies located in Arkansas.
TECHNOLOGY DEVELOPMENT PROGRAM
ARKANSAS ECONOMIC DEVELOPMENT COMMISSION
The Technology Development Program Investment provides royalty financing for qualified science and technology projects with a potential for economic and employment growth in the state of Arkansas.
TECHNOLOGY TRANSFER ASSISTANCE GRANT
ARKANSAS ECONOMIC DEVELOPMENT COMMISSION
The Arkansas Economic Development Commission (AEDC) provides limited financial support for the transfer and deployment of innovative technology.
TOURISM DEVELOPMENT INCENTIVES
ARKANSAS ECONOMIC DEVELOPMENT COMMISSION
The Arkansas Tourism Development Act provides state sales tax credits and income tax credits to businesses initiating approved tourism attraction projects.
TUITION REIMBURSEMENT TAX CREDIT PROGRAM
ARKANSAS DEPARTMENT OF FINANCE AND ADMINISTRATION
The program provides an income tax credit for companies that reimburse full-time employees or pay for the cost of tuition, books and fees for a program of undergraduate or postgraduate education from an accredited institution of post-secondary education located in Arkansas.
VENTURE CAPITAL INVESTMENT TAX CREDIT
ARKANSAS DEVELOPMENT FINANCE AUTHORITY
An income tax credit for venture capital investments.
WETLANDS & RIPARIAN ZONE TAX CREDIT PROGRAM
ARKANSAS DEPARTMENT OF AGRICULTURE
The program allows a state income tax credit to be taken by taxpayers who engage in the development, restoration, or conservation of wetland and riparian zones through projects approved by the Private Lands Restoration Committee.
California
CALIFORNIA CAPITAL ACCESS PROGRAM (CALCAP) SEISMIC SAFETY FINANCING PROGRAM
CALIFORNIA STATE TREASURER'S OFFICE
The California Capital Access Program (CalCAP) Seismic Safety Financing Program incentivizes private financing for California small businesses and residential property owners (including multiunit dwellings and registered mobile homes) to finance the costs of seismically retrofitting existing buildings and homes.
Eligibility Requirements
Eligible Lenders:
- Any federal or state-chartered bank, savings association, certified Community Development Financial Institutions (CDFI), or credit union is eligible to participate in CalCAP. A lender must certify that it is in good standing with its regulatory body (Federal Reserve, Federal Deposit Insurance Corporation, Comptroller of Currency, Thrift Supervision, National Credit Union Administration, or state banking authority). Lending institutions who have executed participation agreement with the Small Business Administration, microbusiness lenders and others may also be eligible.
Qualified applicants:
- California small businesses that meet the following criteria:
- Employ 500 or fewer FTEs and own a qualified building for business operations.
- California residential property owners that meet the following criteria:
- Own a qualified residential building or small businesses that own one or more qualified residential buildings, including multiunit housing buildings and registered mobile homes.
- California commercial property owners that meet the following criteria:
- Own a qualified commercial building or small businesses that own one or more qualified commercial buildings.
Eligible Uses of Loan Proceeds:
- Costs related to seismic retrofit improvements on qualified residential and commercial buildings that are:
- Located in California.
- Identified by the local building code official for the jurisdiction in which the building is located as a building in need of seismic retrofitting and is either a building of a type that is potentially vulnerable in the event of a catastrophic earthquake or a building constructed before 1981.
- Commercial buildings, single-family residences, multiunit housing buildings, multi-unit housing buildings with commercial space, mobile homes, manufactured homes or multifamily manufactured homes.
- Eligible costs related to seismic retrofit construction performed on or after January 1, 2017.
Application Information
Borrowers will need to contact a Participating Lending Institution to start the CalCAP loan enrollment process.
Additional information available from the California Capital Access Program.
CALIFORNIA CAPITAL ACCESS PROGRAM (CALCAP) FOR SMALL BUSINESS
CALIFORNIA POLLUTION CONTROL FINANCING AUTHORITY
The California Capital Access Program (CalCAP) encourages banks and other financial institutions to make loans to small businesses that have difficulty obtaining financing.
Eligible Uses of Loan Proceeds:
- CalCAP supports loans made to small businesses to assist them in growing their business. Loans can be used to finance the acquisition of land, construction or renovation of buildings, start-up costs, the purchase of equipment or inventory, other capital projects and working capital. There are limitations on real estate loans, business acquisitions, and loan refinancing.
Ineligible Uses of Loan Proceeds:
- CalCAP prohibits financing certain projects. Examples of ineligible uses of loan proceeds include gambling facilities, bars and adult entertainment businesses.
Eligible Lenders:
- Any federal or state-chartered bank, savings association, certified Community Development Financial Institutions (CDFI), or credit union is eligible to participate in CalCAP. A lender must certify that it is in good standing with its regulatory body (Federal Reserve, Federal Deposit Insurance Corporation (FDIC), Comptroller of Currency, Thrift Supervision, National Credit Union Administration (NCUA), or state banking authority). Other lenders, such as micro business lenders and finance companies may also be eligible.
Eligible Small Businesses:
- The business must be in one of the industries listed in the qualified Standard Industry Classification (SIC) or the North American Industry Classification System (NAICS) codes list.
- The primary business and at least 51% of its employees or business income, sales or payroll must be in California.
- The business activity resulting from the bank loan must be created and retained in California.
- The small business must be classified as a small business under U.S. Small Business Administration guidelines and have fewer than 500 employees.
Application Information:
Borrowers will need to contact a Participating Lending Institution to start the CalCAP loan enrollment process.
Additional information from the California Governor’s Office of Business and Economic Development.
CALIFORNIA COMPETES TAX CREDIT
CALIFORNIA GOVERNOR'S OFFICE OF BUSINESS AND ECONOMIC DEVELOPMENT
The California Competes Tax Credit (CCTC) is an income tax credit available to businesses that want to locate in California or stay and grow in California.
Eligibility Requirements
Any business can apply for the California Competes Tax Credit. The credit is available statewide to all industries. However, while there are no geographic or sector-specific restrictions, the purpose of the California Competes Tax Credit is to attract and retain high-value employers in California in industries with high economic multipliers and that provide their employees good wages and benefits. GO-Biz is required by statute to consider the extent to which the credit will influence the ability, willingness, or both, of the business to create jobs in this state that might not otherwise be created in the state by the taxpayer or any other taxpayer
Application Information
All applications must be submitted online unless an applicant requests an alternative form as an accommodation. Any applicant that requests to submit an application through an alternative form must contact GOBiz to coordinate submission. The process takes approximately 90 days which includes the period when applications will be reviewed and presented to the California Competes Tax Credit Committee for approval.
Applications are solicited during specific time periods. Please visit the website for current application deadlines.
California Governor's Office of Business and Economic Development
1325 J Street, Suite 1800
Sacramento, CA 95814
Phone: 916-322-4051
Fax: 877-345-4633
[email protected]
Additional information from the California Governor’s Office of Business and Economic Development.
CALIFORNIA SMALL BUSINESS LOAN GUARANTEE PROGRAM
CALIFORNIA INFRASTRUCTURE AND ECONOMIC DEVELOPMENT BANK (IBANK) - SMALL BUSINESS FINANCE CENTER (SBF)
The Small Business Loan Guarantee Program provides collection guarantees to lenders that provide financing to small businesses. The guarantees are facilitated by one of seven non-profit Financial Development Corporations (FDCs). The FDCs partner with the SBFC and participating lenders to provide up to an 80% (or $5 million maximum) guarantee on eligible small business loans issued by the participating lender.
Eligibility Requirements
Eligible applicants include small businesses located in California with between 1-750 employees and eligible non-profits. Proceeds must be used in California and for any standard business purpose beneficial to the applicant's business. Small businesses may use funds for the following: Business Start-up costs; Working capital; Inventory; Franchise fees; Business expansion; Lines of Credit; Non-passive business real estate; New construction; Renovations; Gap Financing; Refinancing of existing business debt (with conditions/original use of funds); Export financing; Lines of credit; Agriculture; Disaster relief and more.
Application Information
Please contact one of the seven Financial Development Corporations (FDCs) or one of the participating lenders to apply. A list of the FDCs and participating lenders can be found on the website.
Megan Hodapp
California Infrastructure and Economic Development Bank (IBank)
Small Business Finance Center
1325 J Street, Suite 1300
Sacramento, CA 95814
Phone: 916-341-6600
Fax: 916-322-6314
[email protected]
CLEAN TRUCK AND BUS VOUCHERS (HVIP)
CALIFORNIA AIR RESOURCES BOARD
This streamlined voucher incentive project helps offset the higher cost of zero-emission technology with a point-of-sale discount. There is no scrappage requirement, and additional funding is available for charging and fueling infrastructure and for equipment deployed in disadvantaged communities.
Eligibility Requirements
HVIP vouchers shall only be provided for a specific vehicle or engine certified to the optional Low NOx standard of 0.01 g/bhp-hr ordered and purchased by a specific customer. The dealer must work with the vehicle or engine purchaser to complete the HVIP voucher request form (available once a voucher request is submitted through the Voucher Processing Center (VPC)). Submittal of a voucher request not associated with a binding complete vehicle order is prohibited. Vouchers requested for vehicles that have already been delivered will not be accepted.
Application Information
Please submit the vehicle eligibility application to Patrick Chen by e-mail at [email protected] and provide a signed electronic copy of the application.
Additional information available from the California HVIP.
EMPLOYMENT TRAINING PANEL
CALIFORNIA EMPLOYMENT TRAINING PANEL
The Employment Training Panel (ETP) provides funding to employers to assist in upgrading the skills of their workers through training that leads to good paying, long-term jobs.
Eligibility Requirements
Priority Industries:
- Agriculture
- Allied Healthcare
- Biotechnology and Life Sciences
- Construction
- Green/Clean Technology
- Goods Movement and Transportation Logistics
- Information Technology Services
- Manufacturing/Food Production
- Multimedia/Entertainment
- Technical Services
In direct response to the COVID-19 outbreak, the Employment Training Panel (ETP) has implemented, through the end of the current fiscal year, June 30, 2021, critical modifications to the funding priorities. ETP’s current funding priorities are now focused towards companies identified as critical and in essential industries, within Governor Newsom’s Executive Order N-33-20.
Under its core program, ETP can only fund training for employers that are subject to paying the Employment Training Tax. The core-funded ETP Program is supported by this tax. ETP can contract directly with the following entities:
- Single Employers subject to the Unemployment Insurance tax and having a California Employer Account Number (CEAN) with a prefix of 699 or lower;
- Groups of Employers, including Chambers of Commerce, Joint Apprenticeship Training Committees, Trade Associations or Economic Development Corporations;
- Training Agencies include the following educational institutions:
- Community College or Community College District
- University or University foundations
- Adult School
- Regional Occupational Program
- Private training agency with at least a two-year history of providing training and placement services to the public, and appropriate certification (see right).
- Workforce Development Boards (WDB) (formerly Workforce Investment Boards) with the approval of appropriate local elected officials in the local workforce investment areas. The current EDD One-Stop Career Center Listing provides a list of Workforce Development Boards located throughout California; and
- Workforce Investment Act (WIA) Grant Recipients or WIA Administrative Entities selected pursuant to the federal Workforce Investment Act of 1998, with the approval of the local Workforce Development Board and the appropriate local elected officials. The current EDD Local Workforce Investment Area Listing of One-Stop Career Centers represents a list of WIA Grant Recipients and Administrative Entities located throughout California.
Re-trainees are incumbent workers who meet any one of the following criteria:
- workers employed full-time for a minimum of 90 days with a single employer, and are participants in the training program;
- workers who have been employed for less than 90 days with their current employer and have a work history of being employed for at least an average of 20 hours per week for at least 90 days by an ETP eligible employer(s) during the 180-day period preceding their current hire date;
- workers who were employed less than 90 days prior to the start date of employment with their current employer and were collecting Unemployment Insurance (U.I.) benefits or had exhausted their benefits within the previous two years.
New hire trainees are unemployed at the start of ETP-funded training and are receiving Unemployment Insurance Benefits at the time of hire or have exhausted their benefits within the previous 24-month period. Workers who have received a layoff notice from their employer are also eligible for these training projects.
Application Information
Please follow the steps below to apply for funding from the Employment Training Panel.
- Step 1: Registration
- Step 2: Orientation
- Step 3: Preliminary Application
- Step 4: Regional Office Site Visit
- If the Pre-Application is determined eligible, you will be contacted by an ETP Regional Office analyst to schedule a site visit at your facility, during which you will review and discuss contracting requirements and be provided a list of documentation required to complete the development of the ETP contract.
- Step 5: Application for Funding
- Following the site visit, an ETP analyst will assist you in completing the Application for Funding, and work with you to finalize contract terms and conditions and prepare the final contract for your training proposal.
- Step 6: Panel Approval
- All training proposals/applications are reviewed and considered for approval by the Panel at regular monthly meetings. You, or a representative of your company, may be required to attend the Panel meeting for a brief presentation and/or to address questions about your proposal.
- Step 7: Funded Training Begins
- You will be officially notified that you may begin training after the Panel approves your training proposal.
Panel meeting dates and application due dates are listed on the program website.
501 (C)(3) BONDS
CALIFORNIA INFRASTRUCTURE AND ECONOMIC DEVELOPMENT BANK (I-BANK)
501(c)(3) Bond Financing provides low-cost, tax-exempt financing to nonprofit public benefit corporations for acquisitions and/or improvements of facilities and capital assets.
AFFORDABLE HOUSING & SUSTAINABLE COMMUNITIES
CALIFORNIA STRATEGIC GROWTH COUNCIL
AHSC provides funding for affordable housing developments (new construction or renovation) and transportation infrastructure.
CALIFORNIA CAPITAL ACCESS PROGRAM (CALCAP) AMERICANS WITH DISABILITIES ACT (ADA) FINANCING PROGRAM
CALIFORNIA STATE TREASURER'S OFFICE
The California Capital Access Americans with Disabilities Act (ADA) Financing Program (CalCAP/ADA Financing Program or CalCAP/ADA) encourages banks and other financial institutions to make loans to small businesses that have difficulty obtaining financing.
CALIFORNIA CAPITAL ACCESS PROGRAM (CALCAP)
CALIFORNIA AIR RESOURCES BOARD (CARB)
The CalCAP Heavy-Duty Vehicle Air Quality Loan Program is a loan loss reserve program, which may provide up to 100% coverage on losses from certain loan defaults.
CALIFORNIA CAPITAL ACCESS PROGRAM (CALCAP) COLLATERAL SUPPORT PROGRAM
CALIFORNIA STATE TREASURER'S OFFICE
The California Capital Access Program Collateral Support (CalCAP CS) is a credit enhancement program that pledges cash to cover the collateral shortfall of loans made by participating lending institutions of $50,000 or more.
CALIFORNIA COVID-19 MICROLOAN INITIATIVE
CALIFORNIA INFRASTRUCTURE AND ECONOMIC DEVELOPMENT BANK (IBANK) - SMALL BUSINESS FINANCE CENTER (SBF)
The COVID-19 Microloan Initiative provides collection guarantees to lenders that provide financing to small businesses who have suffered either a physical or economic loss due to the COVID-19 pandemic. The guarantees are facilitated by one of seven non-profit Financial Development Corporations (FDCs). The FDCs partner with the SBFC and participating lenders to provide up to a 95% guarantee on eligible small business loans issued by the participating lender.
CALIFORNIA DISASTER RELIEF LOAN GUARANTEE PROGRAM
CALIFORNIA INFRASTRUCTURE AND ECONOMIC DEVELOPMENT BANK (IBANK) - SMALL BUSINESS FINANCE CENTER (SBF)
The Disaster Relief Loan Guarantee Program provides collection guarantees to lenders that provide financing to small businesses who have suffered either a physical or economic loss due to a declared disaster. The guarantees are facilitated by one of seven non-profit Financial Development Corporations (FDCs). The FDCs partner with the SBFC and participating lenders to provide up to a 95% (or $1 million maximum) guarantee on eligible small business loans issued by the participating lender.
CALIFORNIA RECYCLE UNDERUTILIZED SITES (CAL REUSE) PROGRAM
CALIFORNIA POLLUTION CONTROL FINANCING AUTHORITY
The Assessment Program provides forgivable loans, up to $300,000 generally and $500,000 for housing projects, to fund site assessment and characterization, technical assistance, remedial action plans, and site access.
CalSEED
CALIFORNIA CLEAN ENERGY FUND
The California Sustainable Energy Entrepreneur Development Initiative (CalSEED) is an early-stage grant funding and professional development program for diverse innovators and entrepreneurs working to bring clean energy concepts to market.
CDBG - ECONOMIC DEVELOPMENT ALLOCATION, ENTERPRISE FUND
CALIFORNIA DEPARTMENT OF HOUSING AND COMMUNITY
Development Grants of up to $500,000 to provide loans to businesses and grants for publicly-owned infrastructure and microenterprise assistance.
CDBG - ECONOMIC DEVELOPMENT ALLOCATION, OVER THE COUNTER COMPONENT
CALIFORNIA DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT
The California CDBG Economic Development Over the Counter program grants of up to $3,000,000 for eligible cities and counties to lend to identified businesses or use for infrastructure improvements necessary to accommodate the creation, expansion, or retention of identified businesses.
CLEAN OFF-ROAD EQUIPMENT VOUCHER INCENTIVE PROJECT (CORE)
CALIFORNIA AIR RESOURCES BOARD
This streamlined voucher incentive project helps offset the higher cost of zero-emission technology with a point-of-sale discount. There is no scrappage requirement, and additional funding is available for charging and fueling infrastructure and for equipment deployed in disadvantaged communities.
CONSERVATION AGRICULTURE PLANNING GRANTS PROGRAM
CALIFORNIA DEPARTMENT OF FOOD AND AGRICULTURE
This program will fund the development of plans that will help farmers and ranchers identify actions for climate change mitigation and adaptation, further environmental stewardship on farms and ranches and ensure agricultural food security into the future.
DIESEL FUEL EXEMPTION
CALIFORNIA DEPARTMENT OF TAX AND FEE ADMINISTRATION
A partial exemption from sales and use tax for the sale, storage, use, or other consumption of diesel fuel used in farming activities or food processing.
ECONOMIC DEVELOPMENT RATE
CALIFORNIA PUBLIC UTILITIES COMMISSION
In order to retain businesses in, or attract businesses to California, the CPUC has approved economic development rates that provide an enhanced discount (30%) and a standard discount (12%) off their otherwise applicable tariff.
EXEMPT FACILITY BOND PROGRAM
CALIFORNIA INFRASTRUCTURE AND ECONOMIC DEVELOPMENT BANK (I-BANK)
Exempt Facility Bond Financing are qualified private activity bonds (tax-exempt and taxable) for infrastructure projects that serve the general public.
FARM EQUIPMENT AND MACHINERY EXEMPTION
CALIFORNIA DEPARTMENT OF TAX AND FEE ADMINISTRATION
A partial exemption from sales and use tax for the sale, storage, use, or other consumption of farm equipment, machinery and their parts to qualified persons for use in qualifying activities. The partial exemption also applies to leases of certain farm equipment and machinery.
FARM LOAN PROGRAM
CALIFORNIA INFRASTRUCTURE AND ECONOMIC DEVELOPMENT BANK
The Farm Loan Program provides direct loans to small farms in California through non-profit Financial Development Corporations (FDCs) that are also approved lenders of the U.S. Department of Agriculture, Farm Services Agency, which guarantees up to 90% of those loans.
FILM & TV TAX CREDIT PROGRAM 3.0
CALIFORNIA FILM COMMISSION
The California Film Commission administers the Film & Television Tax Credit Program 3.0 which provides tax credits based on qualified expenditures for eligible productions that are produced in California.
FOOD PRODUCTION INVESTMENT PROGRAM
CALIFORNIA ENERGY COMMISSION
The Food Production Investment Program will help producers replace high-energy-consuming equipment and systems with market-ready and advanced technologies and equipment. The program will also accelerate the adoption of state-of-the-art energy technologies that can substantially reduce energy use and costs and associated GHG emissions.
FOOD WASTE PREVENTION AND RESCUE GRANT PROGRAM
CALRECYCLE
Provides funding for businesses undertaking projects to increase food recovery efforts.
FUNDING AGRICULTURAL REPLACEMENT MEASURES FOR EMISSION REDUCTIONS (FARMER)
CALIFORNIA AIR RESOURCES BOARD
The Funding Agricultural Replacement Measures for Emission Reductions (FARMER) Program provides funding through local air districts for agricultural harvesting equipment, heavy-duty trucks, agricultural pump engines, tractors, and other equipment used in agricultural operations.
GREENHOUSE GAS REDUCTION LOAN PROGRAM
CALRECYCLE
The GHG Reduction Loan Program provides funds to support new or expanded organics infrastructure, such as composting and anaerobic digestion facilities, as well as for facilities that manufacture fiber, plastic or glass waste materials into beneficial products.
HEALTHY SOILS PROGRAM INCENTIVES PROGRAM
The HSP Incentives Program provides financial assistance for implementation of conservation management that improve soil health, sequester carbon and reduce greenhouse gas (GHG) emissions.
INDUSTRIAL DEVELOPMENT BONDS (IDBS)
CALIFORNIA INFRASTRUCTURE AND ECONOMIC DEVELOPMENT BANK (I-BANK)
Industrial Development Bonds (IDBs) are tax-exempt securities issued up to $10 million by a government agency to provide money for the acquisition, construction, rehabilitation and equipping of manufacturing and processing facilities for private companies.
INFRASTRUCTURE STATE REVOLVING FUND PROGRAM
CALIFORNIA INFRASTRUCTURE AND ECONOMIC DEVELOPMENT BANK (I-BANK)
The Infrastructure State Revolving Fund (ISRF) Program provides financing to public agencies and non-profit corporations, sponsored by public agencies, for a wide variety of infrastructure and economic development projects (excluding housing).
JUMP START LOAN PROGRAM
CALIFORNIA INFRASTRUCTURE AND ECONOMIC DEVELOPMENT BANK (IBANK) - SMALL BUSINESS FINANCE CENTER (SBF)
The Jump Start Program provides technical assistance, financial literacy training, and microloans to low-wealth entrepreneurs or borrowers located in a low-wealth community or in an area with a declared disaster.
MANUFACTURING AND RESEARCH & DEVELOPMENT EQUIPMENT EXEMPTION
CALIFORNIA DEPARTMENT OF TAX AND FEE ADMINISTRATION
The Manufacturing and Research & Development Equipment Exemption allows manufacturers and certain research, and developers may qualify for a partial exemption of sales and use tax on certain manufacturing and research and development equipment purchases and leases.
Net Operating Loss Carryover California Franchise Tax Board California tax law allows businesses that experience a loss for the year to apply this loss two years back or carry it forward to the next year in order to offset income in the following years.
NEW EMPLOYMENT CREDIT
CALIFORNIA FRANCHISE TAX BOARD
The New Employment Credit (NEC) is a California tax credit that encourages hiring and employment in the state. The NEC is available to businesses located in designated areas in the state that hire qualified full-time employees, receive a tentative credit reservation for that employee, and meet other requirements.
ORGANICS GRANT PROGRAM
CALRECYCLE
Provides funding for businesses undertaking projects to increase organic composting or digesting capacity.
POLLUTION CONTROL TAX-EXEMPT BOND FINANCING PROGRAM
CALIFORNIA POLLUTION CONTROL FINANCING AUTHORITY
The Pollution Control Tax-Exempt Bond Financing Program provides private activity tax-exempt bond financing to California businesses for the acquisition, construction, or installation of qualified pollution control, waste disposal, waste recovery facilities, and the acquisition and installation of new equipment.
RECYCLED FIBER, PLASTIC, AND GLASS GRANT PROGRAM
CALRECYCLE
This program is part of California Climate Investments, a statewide program that puts billions of cap-and-trade dollars to work reducing greenhouse gas emissions, strengthening the economy and improving public health and the environment particularly in disadvantaged communities.
RECYCLING MARKET DEVELOPMENT ZONE REVOLVING LOAN PROGRAM
CALIFORNIA DEPARTMENT OF RESOURCES RECYCLING AND RECOVERY (CALRECYCLE)
The Recycling Market Development Zone Loan Program encourages and finances California-based recycling businesses located within California to prevent, reduce, or recycle recovered waste materials through value-added processing or manufacturing.
RESEARCH AND DEVELOPMENT TAX CREDIT
CALIFORNIA FRANCHISE TAX BOARD
The California Research and Development Credit reduces income or franchise tax for the credit if a business paid or incurred qualified research expenses while conducting qualified research in California.
SALES AND USE TAX EXCLUSION (STE) PROGRAM
The California Alternative Energy and Advanced Transportation Financing Authority (CAEATFA) supports the state mission to provide financial incentives to cutting-edge companies by offering a sales and use tax exclusion to manufacturers that promote alternative energy and advanced transportation.
SALES AND USE TAX EXEMPTION FOR AGRICULTURE
CALIFORNIA DEPARTMENT OF TAX AND FEE ADMINISTRATION
The California Department of Tax and Fee Administration administers a partial exemption from the sales and use tax for the sale, storage, use, or other consumption of farm equipment, machinery and their parts.
STATE WATER EFFICIENCY & ENHANCEMENT PROGRAM SWEEP
CALIFORNIA DEPARTMENT OF FOOD AND AGRICULTURE
The State Water Efficiency and Enhancement Program (SWEEP) provides financial assistance in the form of grants to implement irrigation systems that reduce greenhouse gases and save water on California agricultural operations.
TELEPRODUCTION OR OTHER POSTPRODUCTION SERVICE EXEMPTION
CALIFORNIA DEPARTMENT OF TAX AND FEE ADMINISTRATION
A partial exemption from sales and use tax for the sale, storage, use, or other consumption of machinery, equipment including component parts to a qualified person used primarily in teleproduction or other postproduction services. The exemption also includes property sold or purchased by a qualified person primarily to maintain, repair, measure, or test any property used in teleproduction or postproduction services. The partial exemption may also apply to rental receipts paid by a qualified person for teleproduction or postproduction equipment and machinery.
TIMBER HARVESTING EXEMPTION
CALIFORNIA DEPARTMENT OF TAX AND FEE ADMINISTRATION
A partial exemption from sales and use tax for the sale, storage, use, or other consumption of machinery and their parts designed primarily for off-road use in commercial timber harvesting operations by a qualified person. The partial exemption also applies to leases of off-road commercial timber harvesting equipment and machinery subject to tax measured by rentals payable.
UNDERGROUND STORAGE TANK (UST) CLEANUP FUND
CALIFORNIA WATER RESOURCES CONTROL BOARD
The Underground Storage Tank (UST) Cleanup Fund assists a large number of small businesses and individuals by providing reimbursement for expenses associated with the cleanup of leaking USTs.
Colorado
CASH COLLATERAL SUPPORT (CCS)
COLORADO HOUSING AND FINANCE AUTHORITY
The Colorado Cash Collateral Support (CCS) program provides a deposit of cash as collateral for a business loan or credit facility when a business cannot meet the collateral requirements of the lender.
Eligibility Requirements
For-profits and nonprofits are eligible. CHFA deposits may be used on most types of business loans. Cash deposits are pledged as additional collateral to the lender for an initial term of three years. For longer-term loans, lenders may request an extension for up to 10 years.
To be eligible for collateral support, lenders must demonstrate that there is (1) a collateral shortfall and (2) there is a reasonable expectation that the business borrower will repay the loan as agreed.
Application Information
Contact a Commercial Lender to learn more. Please contact the CHFA for a list of qualified commercial lenders.
Lender and business applications are available online at chfainfo.com/ccs.
Additional information from the Colorado Office of Economic Development & International Trade.
COLORADO MICROLOANS
COLORADO OFFICE OF ECONOMIC DEVELOPMENT AND INTERNATIONAL TRADE
The Colorado Microloans Program provides small loans to start-ups and entrepreneurial small businesses that are underserved by traditional debt markets.
Eligibility Requirements
- Have no more than 15 employees at the time the loan is made
- Be a for-profit entity in Colorado with a majority of employees working in Colorado
- Have a substantial possibility to become a viable business with the potential to create good jobs
- Be documented by the lender as an “underserved small business”
- Meet the lender’s underwriting standards
Additional Information
Colorado Office of Economic Development and International Trade
1600 Broadway, Ste. 2500
Denver, CO 80202
Phone: 303-892-3840
[email protected]
Additional information from the Colorado Office of Economic Development and International Trade.
COMMERCIAL REAL ESTATE LOANS
COLORADO HOUSING AND FINANCE AUTHORITY
CHFA provides commercial real estate loans to acquire real estate, expand an existing facility, and/or rehab an existing or new facility.
Eligibility Requirements
Program Eligibility:
- At least 51 percent owner-occupied
- Three or more years of operating history
Application Information
Contact CHFA Community Development for a loan application.
Additional information from the Colorado Housing and Finance Authority.
EMPLOYEE OWNERSHIP GRANT
COLORADO OFFICE OF ECONOMIC DEVELOPMENT AND INTERNATIONAL TRADE
The Colorado Employee Ownership Trial Grant is available to Colorado-headquartered small businesses to pay for the reimbursement of professional technical services required to transition your business to become a Colorado Employee Owned Company.
Eligibility Requirements
To apply for the grant, your business needs to:
- Be exploring an entity type offering at least 20% equity in the business to employees (excluding founders)
- Be actively engaged with service provider(s) to transition to an employee ownership structure or have already transitioned your business to an employee ownership model between designated dates for that round
- Be headquartered in Colorado
- Be in operation for at least one year, or are a newly formed cooperative
- Have at least 3 full-time employees (or 3 members if a cooperative)
- Have annual net revenue of $5 million or less
Types of employee ownership structures that qualify include, but are not limited to:
- Profits interest
- Phantom stock
- Stock appreciation rights
- Stock options
- Restricted stock
- Cooperatives
- Employee stock ownership plans
Businesses must convert within a designated time period for their round of grant funding.
Application Information
Application Link
EMPLOYEE OWNERSHIP TAX CREDIT
OFFICE OF ECONOMIC DEVELOPMENT AND INTERNATIONAL TRADE
The Employee Ownership Tax Credit is available to current Colorado-headquartered businesses and their employees to provide an incentive to establish employee stock ownership plans, worker-owned cooperatives, and employee ownership trusts.
Eligibility Requirements
Eligible structures include employee stock ownership plans, worker-owned cooperatives, and employee ownership trusts.
To be eligible for this program, qualified businesses must:
- Be converting to an entity type offering at least 20% equity in the business to employees (excluding founders)
- Have at least 3 full-time employees (or 3 members if a cooperative)
- Be headquartered in Colorado for at least 1 year
- Be in operation for at least 1 year
- Be in good standing with the Secretary of State
- Not currently have, in whole or in part, an employee stock ownership plan, employee ownership trust, or worker-owned cooperative at the time of application
- Once a tax credit has been reserved, the business has 18 months to demonstrate that at least 20% of the total costs have been incurred
Eligibility for a staged conversion:
A staged conversion means that the initial application will include a minimum of 20% equity in the business being offered to employees. If you do not use the entire tax credit with your initial application and decide to add a minimum of an additional 20% of equity in the future (while the program remains open and funds are available), you may be eligible to access any remaining tax credits.
If you are considering a staged conversion in the future, you must indicate that in your application. If a staged conversion is approved, with each additional stage you must add at least 20% equity share more with employees to access any remaining reserved tax credits.
Eligible expenses include:
- Legal services
- Accounting services
- Business valuation services
- Technical assistance
- Succession planning services
Eligible expenses must be approved by a Certified Public Accountant that is not affiliated with the owner of the qualified business.
Application Information
Application Link
JOB GROWTH INCENTIVE TAX CREDIT
COLORADO OFFICE OF ECONOMIC DEVELOPMENT AND INTERNATIONAL TRADE
The performance-based Job Growth Incentive Tax Credit provides a state income tax credit to businesses undertaking job creation projects that would not occur in Colorado without this program.
Eligibility Requirements
Companies must meet the following requirements:
- Create at least 20 net new jobs (or at least 5 net new jobs if the project is in an Enhanced Rural Enterprise Zone) in Colorado during the credit period with an average annual wage of at least 100% of the county average annual wage where the project will be located
- Consider at least one other state or international market for the project
- Demonstrate that Colorado’s Job Growth Incentive Tax Credit is a major factor in the decision to locate in Colorado
The project must meet the following requirements:
- Could reasonably and efficiently locate the project outside of Colorado
- Has a reduced probability of commencing in the state without this incentive
- Be actively considered in multiple states and/or countries, meaning additional qualitative and quantitative information that supports the competitiveness of the project may be requested
Additional Information
Colorado Office of Economic Development and International Trade
1600 Broadway, Suite 2500
Denver, CO 80202
Phone: (720) 703-2475
SALES TAX EXEMPTION ON MACHINERY AND MACHINE TOOLS USED IN MANUFACTURING
COLORADO DEPARTMENT OF REVENUE
The Sales Tax Exemption on Manufacturing Equipment allows purchases of machinery or machine tools and parts thereof to be exempt from state sales and use tax when the machinery will be used in manufacturing.
Eligibility Requirements
To qualify for exemption, machinery, machine tools, or parts thereof must be:
- used in Colorado,
- purchased for more than $500,
- of such nature that they would have qualified for the federal investment tax credit provided by section 38 of the Internal Revenue Code of 1954, as amended, and
- used directly and predominantly in the manufacturing of tangible personal property for sale or profit.
For machinery or machine tools to qualify for exemption, they must be used directly and predominantly in manufacturing tangible personal property. If a machine has other uses in addition to its manufacturing use, the manufacturing use must be greater than 50% of all use for the machine to qualify for the exemption.
Additional Information
Colorado Department of Revenue
Taxation Division
1375 Sherman Street
Denver, CO 80203
Phone: 303-238-7378
[email protected]
Additional information available from the Colorado Department of Revenue.
1306 BROWNFIELDS CLEANUP GRANT PROGRAM
COLORADO DEPARTMENT OF PUBLIC HEALTH AND ENVIRONMENT
The 1306 Brownfields Cleanup Grant Program assists in the remediation of abandoned properties that contain environmental hazards and to encourage the redevelopment of abandoned hazardous facilities for the benefit of the public good.
ADVANCED INDUSTRIES ACCELERATOR: EARLY STAGE CAPITAL AND RETENTION GRANT
COLORADO OFFICE OF ECONOMIC DEVELOPMENT AND INTERNATIONAL TRADE
The Advanced Industries Accelerator Early Stage Capital and Retention Grant provides funding to support the commercialization of products beyond proof-of-concept by early-stage companies.
ADVANCED INDUSTRIES ACCELERATOR: PROOF OF CONCEPT GRANT
COLORADO OFFICE OF ECONOMIC DEVELOPMENT AND INTERNATIONAL TRADE
The Advanced Industries Accelerator Proof of Concept Grant provides funding to support the early-stage commercialization of advanced industries technologies developed at Colorado research institutions.
ADVANCED INDUSTRIES COLLABORATIVE INFRASTRUCTURE FUNDING GRANT
COLORADO OFFICE OF ECONOMIC DEVELOPMENT AND INTERNATIONAL TRADE
The Advanced Industries Collaborative Infrastructure Funding Grant provides State funding to collaborative projects that will have a broad industry-wide impact across one or more of the Colorado Advanced Industries. The range of possible projects is broad, but each project should have a well defined scope and objectives.
ADVANCED INDUSTRY INVESTMENT TAX CREDIT
COLORADO OFFICE OF ECONOMIC DEVELOPMENT AND INTERNATIONAL TRADE
The Advanced Industry Investment Tax Credit program was created to grow high-potential advanced industry businesses with the objective of stimulating the State economy and creating high-paying jobs.
AVIATION DEVELOPMENT ZONE TAX CREDIT
COLORADO OFFICE OF ECONOMIC DEVELOPMENT AND INTERNATIONAL TRADE
The Aviation Development Zone Tax Credit program provides a state income tax credit of $1,200 per new full-time employee if the business or any part of the business is inside the boundaries of an aviation development zone airport.
BROWNFIELDS TAX CREDIT
COLORADO DEPARTMENT OF PUBLIC HEALTH AND ENVIRONMENT
The Colorado Brownfields tax credit qualifying entities that perform environmental remediation associated with capital improvements or redevelopment projects.
CHILD CARE FACILITIES INVESTMENT CREDIT
COLORADO DEPARTMENT OF REVENUE
The Child Care Facilities Investment Credit allows employers that invest in qualified tangible personal property or provide child care facilities for the benefit of their employees to claim an investment tax credit.
CLIMBER LOANS
COLORADO OFFICE OF ECONOMIC DEVELOPMENT AND INTERNATIONAL TRADE
The CLIMBER (Colorado Loans to Increase Mainstreet Business Economic Recovery) Loan Fund provides up to $250 million in working capital loans to Colorado small businesses negatively impacted by the pandemic through 2023.
COLORADO BROWNFIELDS REVOLVING LOAN FUND
COLORADO HOUSING AND FINANCE AUTHORITY
The Colorado Brownfields Revolving Loan Fund encourages the cleanup of unused or underused contaminated properties by offering financing with reduced interest rates, flexible loan terms, and flexibility in acceptable forms of collateral.
COLORADO CREDIT RESERVE PROGRAMS
COLORADO HOUSING AND FINANCE AUTHORITY
The Colorado Credit Reserve (CCR) Programs increase the availability of credit to small businesses in Colorado by establishing a pooled loan-loss reserve fund that banks or sponsored lending entities may access to recover losses associated with loans registered with the program.
COMMERCIAL HISTORIC PRESERVATION TAX CREDIT
COLORADO OFFICE OF ECONOMIC DEVELOPMENT AND INTERNATIONAL TRADE
The Commercial Historic Preservation Tax Credit is a tax credit for owners of designated commercial properties that conduct a certified rehabilitation of their property.
ENERGIZE COLORADO GAP FUND
ENERGIZE COLORADO
The Energize Colorado Gap Fund will provide more than $50M in small business loans and grants to boost small business enterprises that are the economic engines throughout the state.
ENTERPRISE ZONE TAX CREDIT
COLORADO OFFICE OF ECONOMIC DEVELOPMENT AND INTERNATIONAL TRADE
Colorado Enterprise Zone (EZ) program provides tax incentives to encourage businesses to locate and expand in designated economically distressed areas of Colorado.
FARM EQUIPMENT SALES TAX EXEMPTION
COLORADO DEPARTMENT OF REVENUE
The Farm Equipment Sales Tax Exemption exempts certain qualifying farm, dairy, and ranch equipment and shipping aids from sales tax.
FILM INCENTIVE PROGRAM
COLORADO OFFICE OF ECONOMIC DEVELOPMENT AND INTERNATIONAL TRADE
The Colorado Film Incentive encourages film production in Colorado with a performance-based rebate for up to 20% of qualified expenses. The incentive creates jobs for Coloradans and provides on average a 18-to-1 return on investment for the economy. The films also promote Colorado as a tourism destination.
GLOBAL CONSULTANT NETWORK
COLORADO OFFICE OF ECONOMIC DEVELOPMENT AND INTERNATIONAL TRADE
This program provides Colorado companies with access to international consultants in Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Japan, Malaysia, Mexico, the Netherlands, Philippines, Spain, Thailand, and the United Kingdom.
HISTORIC REVOLVING LOAN FUND
COLORADO HOUSING AND FINANCE AUTHORITY
The Colorado Historic Revolving Loan Fund provides financing for the preservation, rehabilitation, restoration, or adaptive reuse of historical properties.
MEETINGS AND EVENTS INCENTIVE
COLORADO TOURISM OFFICE
The Meeting and Events Incentive provides a 10% cash rebate against eligible hard costs for hosting meetings and events in Colorado that take place on or after July 1, 2021 and on or before June 30, 2024. The minimum rebate is $3,500 and the maximum rebate is $100,000.
NEW MARKETS TAX CREDIT
COLORADO HOUSING AND FINANCE AUTHORITY
New Markets Tax Credits (NMTCs) provide financing to businesses located in, or moving to low income, underserved communities.
PRIVATE ACTIVITY BONDS
COLORADO DEPARTMENT OF LOCAL AFFAIRS
The Private Activity Bond program funds privately developed projects. The bonds are tax-exempt and the amount of the bonds issued are limited by the IRS. Underwriters use investor money called bond proceeds, to make a loan to a project. The project then pays back the loan and the investors are repaid, plus interest.
RURAL ECONOMIC DEVELOPMENT INITIATIVE (REDI) GRANT PROGRAM
COLORADO DEPARTMENT OF LOCAL AFFAIRS
The Rural Economic Development Initiative (REDI) program is designed to help rural communities comprehensively diversify their local economy and create a more resilient Colorado.
RURAL JUMP START
COLORADO OFFICE OF ECONOMIC DEVELOPMENT AND INTERNATIONAL TRADE
The Rural Jump-Start Program incentivizes new businesses to start in or move into rural, economically distressed areas and hire new employees. To be eligible, businesses cannot compete with similar businesses in the county or adjacent economically distressed county. The program provides both a grant and tax credit to businesses.
SALES AND USE TAX REFUNDS
COLORADO DEPARTMENT OF REVENUE
Sales and Use Tax Refunds provide industry-specific tax relief from the Colorado sales and use tax to promote economic development.
SALES TAX EXEMPTION ON RENEWABLE ENERGY COMPONENTS
COLORADO DEPARTMENT OF REVENUE
Components used in the production of alternating current electricity from a renewable energy source are exempt from state sales and use tax.
SPACE FLIGHT SALES TAX EXEMPTION
COLORADO DEPARTMENT OF REVENUE
All sales, storage, and use of qualified property for use in space flight is exempt from taxation.
STATE TRADE EXPANSION PROGRAM (STEP)
COLORADO OFFICE OF ECONOMIC DEVELOPMENT AND INTERNATIONAL TRADE
The State Trade Expansion Program (STEP) Grant helps small businesses expand internationally by funding international business development activities.
STRATEGIC CASH FUND INCENTIVE
COLORADO OFFICE OF ECONOMIC DEVELOPMENT AND INTERNATIONAL TRADE
The Strategic Fund Job Growth Incentive is for business expansion or relocation projects for which Colorado is in competition with at least one other state and the company has received a commitment of local government funding that matches any requested state government incentives. The incentive provides a cash payment over five years to companies that create and maintain new permanent jobs in Colorado.
STRATEGIC FUND JOB GROWTH INCENTIVE
COLORADO OFFICE OF ECONOMIC DEVELOPMENT AND INTERNATIONAL TRADE
The Strategic Fund Job Growth Incentive is for business expansion or relocation projects for which Colorado is in competition with at least one other state and the company has received a commitment of local government funding that matches any requested state government incentives. The incentive provides a cash payment over five years to companies that create and maintain new permanent jobs in Colorado.
THE SKILL ADVANCE COLORADO JOB TRAINING GRANT
COLORADO OFFICE OF ECONOMIC DEVELOPMENT AND INTERNATIONAL TRADE
The Colorado FIRST and Existing Industry Customized Job Training Programs provide job-training grants to existing companies as well as those locating or expanding in Colorado.
VENTURE CAPITAL AUTHORITY
COLORADO OFFICE OF ECONOMIC DEVELOPMENT AND INTERNATIONAL TRADE
The Colorado Venture Capital Authority makes seed and early-stage capital investments in eligible businesses via three Colorado Funds which are established with independently operated fund managers, FirstMile Ventures and the Greater Colorado Venture Fund.
Connecticut
BUSINESS LINE OF CREDIT
COMMUNITY ECONOMIC DEVELOPMENT FUND
The CEDF provides lines of credit up to $250,000.
Eligibility Requirements
Connecticut businesses must meet one of the following requirements to be eligible to apply:
- Location Eligible: The business is not bankable and is located in one of the 53 eligible communities listed on the website regardless of each owner's household income
- Income Eligible: The business is not bankable* and even though it is not located in an eligible CT community, each owner's annual household income (Adjusted Gross Income) is $112,600 or less.
Here, bankable means: The business is unable to obtain a loan from a traditional bank.
Application Information
- Submit a Loan Inquiry Form.
- Print the Loan Application along with the applicable documents.
- Complete the Loan Application. Don't forget all of the needed supporting documents. See the checklist provided. Submit your completed application package to:
- CEDF, Attention: Ricardo Vidal, Director of Lending, 965 East Main Street, Meriden, CT 06450
Additional information available from the Community Economic Development Fund.
COMMERCIAL REAL ESTATE LOANS
COMMUNITY ECONOMIC DEVELOPMENT FUND
The CEDF provides businesses term loans, owner-occupied commercial real estate loans, and lines of credit up to $750,000 in combination.
Eligibility Requirements
- The owner of the business applying must have been in business for three years or longer
- The owner must have a business located or to be located in the building occupying 51% or more of the space (i.e. no pure investment real estate)
- Personal guaranty from all principals involved
Application Information
Submit a Loan Inquiry Form.
- Print the Loan Application along with the applicable documents.
- Complete the Loan Application. Don't forget all of the needed supporting documents. See the checklist provided. Submit your completed application package to:
- CEDF, Attention: Ricardo Vidal, Director of Lending, 965 East Main Street, Meriden, CT 06450
Additional information available from the Community Economic Development Fund.
ELECTRONIC DATA PROCESSING EQUIPMENT PROPERTY TAX CREDIT
CONNECTICUT DEPARTMENT OF REVENUE SERVICES
Credit equal to 100% of property taxes owed and paid on electronic data processing hardware peripheral equipment and software; credit may be applied against certain other CT taxes.
Eligibility Requirements
For more information, please contact the Connecticut Department of Revenue Services.
Electronic data processing equipment means computers, printers, peripheral computer equipment, bundled software, and any computer-based equipment acting as a computer, as defined under section 168 of the Internal Revenue Code of 1986, and any other equipment reported as Code 20 property on the Personal Property Declaration as prescribed by the Secretary of the Office of Policy and Management.
Application Information
Complete Form CT-1120 EDPC, Electronic Data Processing Equipment Property Tax Credit, and attach it to Form CT-1120K, Business Tax Credit Summary, and/or Form CT-207K, Insurance/Health Care Tax Credit Schedule.
Additional information available from the Connecticut Department of Revenue Services.
ENTERPRISE ZONE PROGRAM
CONNECTICUT DEPARTMENT OF ECONOMIC AND COMMUNITY DEVELOPMENT
An Enterprise Zone is a designated area in a Targeted Investment Community. Incentive benefits are provided for eligible business relocation/expansion projects.
Eligibility Requirements
These programs are designed to encourage capital improvements to land and/or buildings. Businesses must be prepared to either:
- renovate an existing facility by investing at least 50% of the facility’s prior assessed value in the renovation
- construct a new facility or expand an existing facility
- acquire a facility that has been idle for a stated minimum timeframe (sliding scale dependent on average number of employees for previous six months):
- (if 19+ employees) at least one year
- (if 6-19 employees) at least six months
- (if 5 or fewer employees) no idleness requirement applies
If the applicant is leasing this qualifying facility, the lease must be for at least five years with the option at that point to either renew the lease for an aggregate term of not fewer than 10 years or buy the facility. If the business averages fewer than 10 employees, those requirements may be reduced to aggregate leases of fewer than six years or the option to purchase after three years.
Some zones might specify a range of North American Industrial Classification System (NAIC) codes, priority industry clusters, and/or pre-approved non-manufacturing and service business operations such as those listed in Addendum A; please refer to the Related Resources section.
Application Information
For businesses seeking tax incentives and other benefits: Across all cities and towns that are approved by the DECD to participate in the Enterprise Zone program:
Step One
- Before starting any project, the business must first submit a formal request through the local economic development office of the municipality in order to obtain a Preliminary Questionnaire.
- If pre-qualified, the business would receive from the DECD a formal application and an invitation to apply.
Step Two
- The business submits a complete application with required documentation to the DECD prior to October 1 of the year in which the project will be completed.
- If approved, DECD would issue a Certificate of Eligibility.
For cities and town seeking to be approved for one of the Enterprise Zone program designations: The municipalities should first obtain local approvals to ensure the zone meets municipal and regional requirements, and then the municipality would submit a formal proposal to the Commissioner of the Connecticut Department of Economic and Community Development for review and approval.
FIXED CAPITAL INVESTMENT TAX CREDIT
CONNECTICUT DEPARTMENT OF REVENUE SERVICES
A tax credit may be applied against the tax imposed under Chapter 208 of the Connecticut General Statutes for amounts paid or incurred by a corporation for fixed capital.
Eligibility Requirements
Fixed capital means any new tangible personal property that meets all of the following criteria:
- It must have a class life of more than four years;
- It must have been purchased from someone other than a related person;
- It is not leased or acquired to be leased to another person within 12 months of purchase; and
- It will be held and used in Connecticut by a corporation in the ordinary course of the corporation’s trade or business in Connecticutfor a period of not less than five full years following its purchase.
Fixed capital does not include:
- Inventory;
- Land;
- Buildings or structures; or
- Mobile transportation property.
Related person means a corporation, partnership, association, or trust controlled by the corporation; an individual, corporation, partnership, association, or trust that is in control of the corporation; a corporation, partnership, association, or trust controlled by an individual, corporation, partnership, association, or trust that is in control of the corporation; or a member of the same controlled group as the corporation.
With respect to a corporation, control means ownership, directly or indirectly, of stock possessing 50% or more of the total combined voting power of all classes of the stock of the corporation entitled to vote; with respect to a trust, control means ownership, directly or indirectly, of 50% or more of the beneficial interest in the principal or income of the trust. Ownership is determined as provided in Section 267(c) of the Internal Revenue Code of 1986, or any subsequent corresponding Internal Revenue Code of the United States, as from time to time amended, other than paragraph (3) of that section.
Mobile transportation property is any transport equipment designed to move or convey people or property from one place to another, including but not limited to:
- Trucks;
- Buses;
- Forklifts;
- Snowplows; or
- Certain construction equipments such as backhoes, bulldozers, cement mixers, and loaders.
Application Information
Complete Form CT-1120 FCIC, Fixed Capital Investment Tax Credit, and attach it along with any required detailed schedule to Form CT-1120K, Business Tax Credit Summary.
For more informtion, please contact the Connecticut Department of Economic and Community Development for details.
Additional information available from the Connecticut Department of Revenue Services.
HOUSING PROGRAM CONTRIBUTION TAX CREDIT
CONNECTICUT HOUSING FINANCE AUTHORITY
The Housing Program Contribution tax credit is available to business firms that make cash contributions to housing programs that benefit low and moderate income individuals and families. The housing programs must be sponsored, developed, or managed by nonprofit corporations.
Eligibility Requirements
The housing programs must be sponsored, developed, or managed by nonprofit corporations.
Business firm means:
- Any business entity authorized to do business in Connecticut and subject to the corporation business tax;
- Any company subject to the tax imposed under Chapter 207;
- Any air carrier subject to the air carriers tax imposed under Chapter 209;
- Any railroad subject to the railroad companies tax imposed under Chapter 210;
- Any community antenna television systems company subject to the tax imposed under Chapter 211; or
- Any utility subject to the utility companies tax imposed under Chapter 212.
Nonprofit corporation means any nonprofit corporation incorporated according to Chapter 602 of the Connecticut General Statutes (or any predecessor statutes) which: 1) has as one of its purposes the construction, rehabilitation, ownership or operation of housing; and 2) has articles of incorporation that have been approved by the executive director of CHFA in accordance with CHFA’s adopted regulations.
Application Information
Contact CHFA Tax Credit Unit at 860-721-9501, Ext. 237 or go to www.chfa.org for information regarding the application process.
Additional information available from the Connecticut Department of Revenue Services.
HUMAN CAPITAL INVESTMENT TAX CREDIT
CONNECTICUT DEPARTMENT OF REVENUE SERVICES
The Human Capital Investment Tax Credit may be applied against the Connecticut corporation business tax for amounts paid or incurred for certain types of human capital investments.
Eligibility Requirements
Human capital investment means:
- In-state job training of persons employed in Connecticut;
- Work education programs in Connecticut;
- Worker training and education of persons employed in Connecticut provided by Connecticut institutions of higher education;
- Donations or capital contributions to institutions of higher education in Connecticut for improvements or advancement of technology, including physical plant improvements;
- Planning, sit preparation, construction, renovation, or acquisition of facilities in Connecticut for the purpose of establishing a day care facility to be used primarily by the children of employees who are employed in Connecticut;
- Child care subsidies paid to employees employed in Connecticut for child care provided in Connecticut; or
- Contributions made to the Individual Development Account Reserve Fund administered by the Connecticut Department of Labor.
Expenditures associated with the “in-state job training of persons employed in Connecticut” include:
- Training materials;
- Direct expenses relating to training (e.g., the cost of a training instructor);
- Course registration fees; and
- Travel costs related to training, provided the travel is within Connecticut.
Additional Provisions
- The credit claimed cannot exceed the amount of tax liability.
- Corporations claiming expenditures for the Human Capital Investment Credit cannot claim or use the same expenditures against any other corporation business tax credit.
Application Information
Complete Form CT-1120 HCIC, Human Capital Investment Tax Credit, and attach it to Form CT-1120K, Business Tax Credit Summary, along with all required detailed schedules.
Additional information available from the Connecticut Department of Revenue Services.
INCUMBENT WORKER TRAINING PROGRAM (IWT)
CONNECTICUT CENTER FOR ADVANCED TECHNOLOGY
The IWT program is a matching grant program that offers financial reimbursement to manufacturing companies for providing up-skill training to their employees. The goals are:
- To support advanced manufacturing and innovative companies in their efforts to train incumbent workers in the appropriate skills to meet current and emerging market needs.
- To bring technological innovation to the market and help manufacturing companies leap ahead in productivity and efficiency by enhancing the skills of their current workforce.
- To grow sales revenue and increase profitability.
The program will reimburse up to 50% of training costs $50,000 of training costs annually. Companies may submit multiple reimbursement applications so long as the aggregate amount does not exceed $50,000 in any given calendar year. There is no minimum grant amount that will be awarded to qualified applicants. The maximum amount of lifetime assistance provided to any one company by this program is limited to $100,000.
In order for a company to apply for reimbursement, they must meet all of eligibility criteria for the program. As an example, an applicant who can evidence having spent a total of $30,000 in training costs over the course of one year will be eligible for a potential grant of $15,000 ($15,000 grant + $15,000 company match).
Eligibility Requirements
A qualified third-party training company must have been used to conduct the training.
- Applicants must evidence good standing with the CT Department of Revenue Services (DRS) and the Department of Labor (DOL) and be current with their registration with Secretary of the State and other relevant agencies (for the most recent quarter).
- Applicants are required to match grant awards dollar for dollar.
- Must have conducted beneficial training that is consistent with the goals of this program and worthy of funding as determined by the program administrator.
- Companies receiving funds will be asked to complete a survey form on the impact of the training.
- A Connecticut based manufacturer or allied service provider who has between 3 and 300 employees and incurred training expenses post 4/1/22.
- A Connecticut based manufacturer or allied service provider who has between 300 and 1,000 employees and incurred training expenses post 6/29/23.
- Must Have conducted beneficial training worthy of funding as determined by the program administrator.
Application Information
The Required Documentation:
- DRS Letter of Good Standing (aka Status Letter for the most recent quarter)
- DOL Letter of Good Standing (aka Status Letter for the most recent quarter)
- Completed W9 Taxpayer ID Form
- Invoice Copies for Training Conducted
- Checks or other documentation evidencing payment for training
- Completed Training Cost Sheet (IWTF33)
- Training Attendance Form (IWTF34) or similar
Additional information available from the Connecticut Center for Advanced Technology.
MACHINERY AND EQUIPMENT EXPENDITURE TAX CREDIT
CONNECTICUT DEPARTMENT OF REVENUE SERVICES
A Machinery and Equipment Expenditure Tax Credit may be applied against the Connecticut corporation business tax based upon a percentage of the incremental increase in expenditures for machinery and equipment acquired for and installed in a facility in Connecticut which exceeds the amount spent for such expenditures in the prior income year.
Eligibility Requirements
The credit amount is determined by the number of the corporation’s full-time, permanent employees whose wages, salaries or other compensation is paid in Connecticut. Please see the website for the exact parameters used to define each term of the credit.
Application Information
Complete Form CT-1120 MEC, Machinery and Equipment Credit. This form can be obtained from the DRS Forms Unit by calling 860-297-5962 or 1-800-382-9463 (in-state). Forms may also be obtained 24 hours a day either by calling DRS Tax-Fax, 860-297-5698, or from the agency Web site
Additional information available from the Connecticut Department of Revenue Services.
MINORITY BUSINESS REVOLVING LOAN FUND
DEPARTMENT OF ECONOMIC AND COMMUNITY DEVELOPMENT
The Minority Business Revolving Loan Fund provides loans and lines of credit to Connecticut businesses owned by minorities and/or women.
Eligibility Requirements
To be eligible for financing through the Minority Business Revolving Loan Fund, your business must be:
- in operation for at least one year and/or officially registered for at least a year;
- physically located and operating in Connecticut;
- a for-profit business;
- current with both state and federal taxes for both the business owner and the business.
Note: principals with 50% or more ownership must not be more than 60 days delinquent on child support.
Application Information
There are two ways to apply for a Minority Business Revolving Loan.
- You can apply online through our program administrator, HEDCO.
- You can download and complete the appropriate forms, then mail or fax them to HEDCO.
Please see the website for application materials and instructions.
Additional information from the Connecticut Department of Economic and Community Development.
REAL & PERSONAL PROPERTY TAX EXEMPTIONS
CONNECTICUT DEPARTMENT OF ECONOMIC AND COMMUNITY DEVELOPMENT
Exemption on property taxes associated with inventory, depreciable equipment, and real property improvements. For more information, please contact the Connecticut Department of Economic and Community Development.
Contact Information
Jennifer Gauther
Connecticut Department of Economic and Community Development
Office of Policy and Management
450 Capitol Avenue
Hartford, CT 06106
Phone: (860) 418-6342
Fax: (860) 418-6493
[email protected]
SALES AND USE TAX EXEMPTION
CONNECTICUT DEPARTMENT OF ECONOMIC AND COMMUNITY DEVELOPMENT
Investments that help Connecticut businesses create jobs and modernize may be eligible for tax relief. Please contact the Connecticut Department of Economic and Community Development for details.
Contact Information
Patricia Paesani
Connecticut Department of Economic and Community Development
Office of Business Development
450 Columbus Blvd.
Hartford, CT 06103
Phone: (860) 500-2415
[email protected]
SBA MICROLOAN
COMMUNITY ECONOMIC DEVELOPMENT FUND
The CEDF SBA microloan program provides loans to small businesses not able to obtain traditional financing to obtain capital.
Eligibility Requirements
Eligible use of proceeds include:
- Working capital
- Inventory or supplies
- Furniture or fixtures
- Machinery or equipment
- Refinance debt (with some limitations)
The applying company must be a small business.
Connecticut businesses must meet one of the following requirements to be eligible to apply:
- Location Eligible: The business is not bankable and is located in one of the 53 eligible communities listed on the website regardless of each owner's household income
- Income Eligible: The business is not bankable* and even though it is not located in an eligible CT community, each owner's annual household income (Adjusted Gross Income) is $112,600 or less.
Here, bankable means: The business is unable to obtain a loan from a traditional bank.
Application Information
To apply:
- Submit a Loan Inquiry Form.
- Print the Loan Application along with the applicable documents.
- Complete the Loan Application. Don't forget all of the needed supporting documents. See the checklist provided. Submit your completed application package to:
- CEDF, Attention: Karen Tessman, Director of Lending, 965 East Main Street, Meriden, CT 06450
Additional information available from the Community Economic Development Fund.
SMALL BUSINESS EXPRESS PROGRAM
CONNECTICUT DEPARTMENT OF ECONOMIC AND COMMUNITY DEVELOPMENT
The Small Business Express Program (EXP) provides loans and grants to small businesses to spur job creation and growth.
Eligibility Requirements & Application
Contact the agency for additional information.
TERM LOANS
COMMUNITY ECONOMIC DEVELOPMENT FUND
The CEDF provides businesses term loans up to $250,000 in combination.
Eligibility Requirements
Connecticut businesses must meet one of the following requirements to be eligible to apply:
- Location Eligible: The business is not bankable and is located in one of the 53 eligible communities listed on the website regardless of each owner's household income
- Income Eligible: The business is not bankable* and even though it is not located in an eligible CT community, each owner's annual household income (Adjusted Gross Income) is $112,600 or less.
Here, bankable means: The business is unable to obtain a loan from a traditional bank.
Application Information
- Submit a Loan Inquiry Form.
- Print the Loan Application along with the applicable documents.
- Complete the Loan Application. Don't forget all of the needed supporting documents. See the checklist provided. Submit your completed application package to:
- CEDF, Attention: Ricardo Vidal, Director of Lending, 965 East Main Street, Meriden, CT 06450
Additional information available from the Community Economic Development Fund.
WOMEN AND MINORITY LOAN GUARANTEE PROGRAM
COMMUNITY ECONOMIC DEVELOPMENT FUND
The Community Economic Development Fund (CEDF) can access a special loan guarantee in conjunction with the Department of Economic and Community Development (DECD) to help women- and minority-owned businesses obtain flexible financing.
Eligibility Requirements
Connecticut businesses must meet one of the following requirements to be eligible to apply:
- Location Eligible: The business is not bankable and is located in one of the 53 eligible communities listed on the website regardless of each owner's household income
- Income Eligible: The business is not bankable* and even though it is not located in an eligible CT community, each owner's annual household income (Adjusted Gross Income) is $99,700 or less.
Here, bankable means: The business is unable to obtain a loan from a traditional bank.
Other requirements for eligibility:
- Women- or minority-owned business
- 50 or fewer employees
- Loan amount up to $50,000
Application Information
Please contact the Program Manager for more information.
Additional information from the Community Economic Development Fund.
ABANDONED BROWNFIELD CLEANUP (ABC) PROGRAM
CONNECTICUT DEPARTMENT OF ECONOMIC AND COMMUNITY DEVELOPMENT
The ABC program offers an opportunity for developers, who are not responsible for contamination, to be afforded liability relief from the responsibility to investigate and remediate off-site contamination provided that the projects meet certain economic development thresholds and remediation is completed under a formal DEEP program.
ACCUMULATED R&D TAX CREDIT EXPANSION PROGRAM
DEPARTMENT OF ECONOMIC AND COMMUNITY DEVELOPMENT
The Accumulated Tax Credit Expansion Program allows Connecticut businesses to utilize unused tax credits for capital projects, planned or underway, that will increase employment, result in business expansion, or generate substantial economic returns to the state economy.
ADDITIVE VOUCHER PROGRAM (AVP)
CONNECTICUT CENTER FOR ADVANCED TECHNOLOGY
The Additive Voucher Program (AVP) provides companies with a matching grant to assist with the acquisition of Additive Manufacturing technology. This program provides 50% of the total project cost, up to a lifetime total of $20,000. Eligible companies can apply for a grant up to $20,000 for Additive Manufacturing Hardware, Software, and related third-party integration services. Funding is awarded on a first-come first-served basis.
AIRPORT DEVELOPMENT ZONE
CONNECTICUT DEPARTMENT OF ECONOMIC AND COMMUNITY DEVELOPMENT
Incentives for businesses building or renovating facilities near Connecticut's airport development zones.
ANGEL INVESTOR TAX CREDIT PROGRAM
CONNECTICUT INNOVATIONS
The Angel Investor Tax Credit Program allows Angel Investors to take a credit against Connecticut State income tax for certain investments made in qualifying businesses.
APPRENTICESHIP FUNDING PROGRAM
CONNECTICUT CENTER FOR ADVANCED TECHNOLOGY
The Apprenticeship Funding Program was created for the purpose of providing financial assistance to Connecticut manufacturing companies to support the addition and utilization of Registered Apprenticeships to train and fill critical positions required for stability, continuity, and growth of manufacturing companies.
APPRENTICESHIP TRAINING TAX CREDIT IN MANUFACTURING, PLASTICS, PLASTICS-RELATED, OR CONSTRUCTION TRADES
DEPARTMENT OF REVENUE SERVICES
Corporations subject to the Corporation Business Tax may earn a credit for employing apprentices in the manufacturing, plastics, plastics-related, or construction trades. Credits earned by these corporations may be applied against the taxes imposed under Chapter 208 (Corporation Business Tax).
BROWNFIELD MUNICIPAL GRANT PROGRAM
CONNECTICUT DEPARTMENT OF ECONOMIC AND COMMUNITY DEVELOPMENT
The Brownfield Municipal Grant Program is a competitive program for municipalities and municipal entities, designed to assist with brownfield redevelopment projects in their communities that will make a significant economic impact.
CONNECTICUT BIOSCIENCE INNOVATION FUND (CBIF)
CONNECTICUT INNOVATIONS
If you have a bioscience breakthrough with strong commercial potential, you may want to learn more about financial assistance provided by the Connecticut Bioscience Innovation Fund. Administered by Connecticut Innovations, this $200 million-dollar fund seeks to speed commercialization of bioscience breakthroughs by providing focused financial assistance.
CONTIGUOUS MUNICIPALITY ZONE
CONNECTICUT DEPARTMENT OF ECONOMIC AND COMMUNITY DEVELOPMENT
If a municipality is contiguous to an Enterprise Zone in another municipality and meets the Statutory requirements, it may apply to the DECD commissioner to participate in the Enterprise Zone program of benefits.
CORPORATE BUSINESS TAX EXEMPTIONS
DEPARTMENT OF ECONOMIC AND COMMUNITY DEVELOPMENT
Connecticut provides corporate business tax exemptions to a variety of insurance, finance and utilities companies operating in the state.
DEFENSE PLANT ZONE
CONNECTICUT DEPARTMENT OF ECONOMIC AND COMMUNITY DEVELOPMENT
This zone provides relief is for municipalities that have been severely impacted by a prime defense contract cutback or closure of a major aerospace or a defense plant.
DIGITAL ANIMATION PRODUCTION COMPANY TAX CREDIT
CONNECTICUT DEPARTMENT OF ECONOMIC AND COMMUNITY DEVELOPMENT
The State of Connecticut is home to an array of leading digital animation companies. These digital animation production companies may apply for a tax credit of 10 to 30%, based on the amount of qualified spending in Connecticut. The Office of Film, TV & Digital Media administers this tax credit on behalf of the Department of Economic and Community Development (DECD).
DIGITAL MEDIA & MOTION PICTURE TAX CREDIT
CONNECTICUT DEPARTMENT OF ECONOMIC AND COMMUNITY DEVELOPMENT
The Connecticut Digital Media and Motion Picture Tax Credit program provides a tax credit for the production of digital media and motion pictures in the State of Connecticut.
DONATION OF OPEN SPACE LAND CREDIT
CONNECTICUT DEPARTMENT OF REVENUE SERVICES
A credit against the Connecticut corporation business tax credit is available in an amount equal to 50% of any donation of open space land.
ENTERPRISE CORRIDOR ZONE
CONNECTICUT DEPARTMENT OF ECONOMIC AND COMMUNITY DEVELOPMENT
Enterprise Corridor Zones are designated to encourage development Route 8 (north and south including the state's Naugatuck Valley) as well as along Interstate 395 (north and south along the eastern region of the state).
ENTERTAINMENT DISTRICT
CONNECTICUT DEPARTMENT OF ECONOMIC AND COMMUNITY DEVELOPMENT
Once the state has designated an Enterprise Zone within a municipality, that municipality becomes known as a Targeted Investment Community. As long as certain conditions are met and the DECD Commissioner approves, that Targeted Investment Community may in turn designate an area within the municipality as an Entertainment District — which then becomes eligible for Enterprise Zone-level benefits.
EQUITY FINANCE
CONNECTICUT INNOVATIONS
Our flagship equity fund includes advice, support and introductions to our vast network of mentors and investors. This fund has provided more than $100 million to date to Connecticut’s promising high-tech companies. We’ve attracted companies to Connecticut from both coasts and as far away as Europe. Our program is considered to be one of the best models for state-run venture capital funds in the country.
FILM INFRASTRUCTURE TAX CREDIT
CONNECTICUT DEPARTMENT OF ECONOMIC AND COMMUNITY DEVELOPMENT
Connecticut provides a tax credit to any taxpayer that invests in a state-certified entertainment infrastructure project.
HISTORIC REHABILITATION TAX CREDIT
CONNECTICUT DEPARTMENT OF ECONOMIC AND COMMUNITY DEVELOPMENT
The Historic Rehabilitation Tax Credit is available for the qualified rehabilitation expenditures associated with the rehabilitation of a certified historic structure.
HOTEL TAX EXEMPTION
DEPARTMENT OF ECONOMIC AND COMMUNITY DEVELOPMENT
The Hotel Tax Exemption provides that the 12% hotel occupancy tax only applies to the first period not exceeding thirty consecutive days.
INNOVATION VOUCHER PROGRAM (VIP)
CONNECTICUT CENTER FOR ADVANCED TECHNOLOGY
This grant program is intended to help Connecticut supply chain companies with the adoption and integration of IoT solutions. The program will provide matching grants up to $25,000 for digital hardware, sensors, platforms, and related third-party integration services. Project proposals that fall under any of the Industrial 4.0 technology groups: Industrial IoT, Model-Based Definition, Extended Reality, and Adaptive Automation will be considered for funding. The goal of this program is to ensure that the Connecticut supply chain is positioned to implement modern digital manufacturing tools so that they can continue to compete favorably against any manufacturing sector in the world!
INSURANCE REINVESTMENT FUND CREDIT
CONNECTICUT DEPARTMENT OF ECONOMIC AND COMMUNITY DEVELOPMENT
Tax credits are available for investments made in an Insurance Reinvestment Fund that invests in Connecticut companies engaged in an insurance business or providing services to insurance companies.
INTERNSHIP PROGRAM
CONNECTICUT CENTER FOR ADVANCED TECHNOLOGY
This program provides a wage subsidy of up to $14,000 for four qualified interns working for Connecticut manufacturers.
JOBSCT TAX REBATE PROGRAM
CONNECTICUT DEPARTMENT OF ECONOMIC AND COMMUNITY DEVELOPMENT
JobsCT provides eligible companies in certain industries, including manufacturing, with substantial refundable tax credits.
MANUFACTURING AND BIOTECH SALES AND USE TAX EXEMPTION
CONNECTICUT DEPARTMENT OF ECONOMIC AND COMMUNITY DEVELOPMENT
Connecticut offers sales/use tax exemptions for investments advanced manufacturing and bio-science companies make that help create jobs and modernize operations.
MANUFACTURING APPRENTICESHIP TAX CREDIT
CONNECTICUT DEPARTMENT OF LABOR
This tax credit is designed to encourage the development of skilled workers through apprentice training programs in order to counter the current and projected shortage of skilled craft workers in the Manufacturing Trades which exists in Connecticut.
MANUFACTURING INNOVATION FUND
CONNECTICUT DEPARTMENT OF ECONOMIC AND COMMUNITY DEVELOPMENT
The Connecticut Manufacturing Innovation Fund targets financial assistance to support the growth, innovation and progress of the Connecticut advanced manufacturing sector. It assists manufacturers with equipment, research and development, and training.
MANUFACTURING MACHINERY AND EQUIPMENT TAX EXEMPTION
CONNECTICUT DEPARTMENT OF ECONOMIC AND COMMUNITY DEVELOPMENT
Connecticut exempts certain investments in the latest advanced manufacturing and bio science equipment and machinery from Connecticut property tax for five years.
MANUFACTURING VOUCHER PROGRAM (MVP)
CONNECTICUT CENTER FOR ADVANCED TECHNOLOGY
Eligible companies can apply for a grant up to $100,000 to conduct a new project. First-time applicants are required to provide a cash match of 2:1 and repeat applicants 3:1. That means, First time applicants provide 67% of the total proposed project cost and repeat applicants provide 75% of the proposed project cost.
NEIGHBORHOOD ASSISTANCE PROGRAM CREDIT
CONNECTICUT DEPARTMENT OF REVENUE SERVICES
The Connecticut Neighborhood Assistance Act Tax Credit Program provides Connecticut businesses a tax credit of 60% on all donations to approved tax-exempt organizations or municipal agencies, and 100% to approved energy conservation programs.
OPPORTUNITY ZONE
CONNECTICUT DEPARTMENT OF ECONOMIC AND COMMUNITY DEVELOPMENT
Seventy-two urban and suburban areas across Connecticut have been federally designated as Opportunity Zones. Connecticut’s state government and its 27 municipalities with designated Opportunity Zones are eager to leverage this program to encourage investments in Connecticut. Together we are committed to helping developers, investors and communities alike to maximize the benefits of this program.
PRE-SEED FUND
CONNECTICUT INNOVATIONS
The Pre-Seed Fund supports the formation of new Connecticut technology companies by providing funding, mentoring and access to business and technical resources to assist entrepreneurs in growing their early-stage companies.
PURCHASES FOR USE IN AUDIO OR VIDEO PRODUCTION OR BROADCASTING SALES TAX EXEMPTION
DEPARTMENT OF REVENUE SERVICES
According to state law, items purchased for use in audio or video production or broadcasting can be eligible for a sales and use tax exemption.
QUALIFIED MANUFACTURING PLANT
CONNECTICUT DEPARTMENT OF ECONOMIC AND COMMUNITY DEVELOPMENT
Any Targeted Investment Community with a manufacturing plant that has at least 500,000 square feet may apply to have that facility designed as a Qualified Manufacturing Plant, making the business renovating/refurbishing the property eligible to receive certain benefits.
RAILROAD DEPOT ZONE
CONNECTICUT DEPARTMENT OF ECONOMIC AND COMMUNITY DEVELOPMENT
To encourage businesses to redevelop land/facilities around abandoned or underutilized railroad depots, any Targeted Investment Community may request a Railroad Depot Zone designation.
RESEARCH AND DEVELOPMENT INCREMENTAL EXPENDITURES TAX CREDIT
CONNECTICUT DEPARTMENT OF REVENUE SERVICES
A credit may be applied against the Connecticut corporation business tax for the incremental increases in research and development expenses incurred in Connecticut.
RESEARCH AND DEVELOPMENT NON-INCREMENTAL EXPENDITURES TAX CREDIT
CONNECTICUT DEPARTMENT OF REVENUE SERVICES
A credit may be applied against the Connecticut corporation business tax for research and development expenses incurred in Connecticut.
REV-UP! MENTOR WAGE SUBSIDY REIMBURSEMENT PROGRAM
CONNECTICUT CENTER FOR ADVANCED TECHNOLOGY
Eligible manufacturing employers may seek a mentor wage subsidy reimbursement for their registered REV-UP! participants on a first come, first served basis. Each employer may apply for reimbursement for up to ten employees for the duration of the program.
SBIR/STTR RESEARCH & DEVELOPMENT FUNDING
CONNECTICUT INNOVATIONS
CTNext launched the AccelerateCT initiative to enhance the competitiveness of SBIR/STTR proposals among Connecticut’s young technology companies. The program helps technology-enabled companies based in Connecticut strengthen their applications for more than $3.2 billion in non-dilutive federal research and development funding through the nation’s Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs.
SECOND INSURANCE REINVESTMENT FUND TAX CREDIT
DEPARTMENT OF REVENUE SERVICES
The Second Insurance Reinvestment Fund tax credit is available to insurance companies that invest eligible capital with approved fund managers, who in turn invest such capital in eligible businesses.
SIRI & CYBER ASSISTANCE PROGRAM (SAC)
CONNECTICUT CENTER FOR ADVANCED TECHNOLOGY
The SIRI and CYBER Assistance Program (SAC) was created for the purpose of providing financial assistance to Connecticut manufacturing companies seeking Smart Industry Readiness Index assessments (SIRI) and/or Cyber Security assessments and certification (CMMC). The goal is to help companies striving to meet federal cybersecurity requirements and to also assist those interested in pursuing their smart factory transformation journey. Eligible companies can apply for a grant up to $10,000 to conduct assessments and testing Participating companies must pay half the cost.
STATE TRADE EXPANSION PROGRAM (STEP)
CONNECTICUT DEPARTMENT OF ECONOMIC AND COMMUNITY DEVELOPMENT
The State Trade Expansion Program provides services to Connecticut businesses to help grow their exports and identify new export opportunities.
TARGETED BROWNFIELD DEVELOPMENT LOAN PROGRAM
CONNECTICUT DEPARTMENT OF ECONOMIC AND COMMUNITY DEVELOPMENT
The Targeted Brownfield Development Loan Program provides loan financing to eligible entities for costs associated with the investigation, assessment, remediation and development of a brownfield.
TECHNOLOGY TALENT BRIDGE
CT NEXT
The Talent Bridge Program (TTB) is an opportunity for innovation-driven companies in Connecticut to source additional funding for the hire of student interns.
URBAN/INDUSTRIAL SITES REINVESTMENT TAX CREDIT
CONNECTICUT DEPARTMENT OF ECONOMIC AND COMMUNITY DEVELOPMENT
Under the program, the state may provide up to $100 million in tax credits over a ten-year period to support projects that create significant jobs and capital investment in these underserved areas.
VENTURE DEBT
CONNECTICUT INNOVATIONS
The Venture Debt Fund helps early-stage and later-stage businesses obtain venture or mezzanine debt for capital expenditures and working capital.
VENTURECLASH
CONNECTICUT INNOVATIONS
VentureClash is an international competition during which the best early-stage companies compete for $5 million in awards during a one day event at Yale University.
Delaware
FIRST STATE FOOD SYSTEM PROGRAM
DELAWARE DEPARTMENT OF AGRICULTURE
The program provides grant funding to entities that grow, process, store, transport, distribute, or sell food in the State of Delaware.
Eligibility Requirements
Eligible entities must grow, process, store, transport, distribute, or sell food in the State of Delaware.
Application Information
Application instructions and forms can be found on the program website.
Additional information from the Delaware Community Foundation.
BUSINESS FINDER'S FEE TAX CREDIT
DELAWARE DIVISION OF SMALL BUSINESS
A certified sponsor firm and a certified new business firm shall each be eligible for a tax credit equal to $500 times the total number of full-time Delaware employees of the certified new business firm each tax year for 3 tax years from the new business certification date.
Eligibility Requirements
To qualify for a business finder’s fee credit, a proposed sponsor firm and proposed new business firm shall submit a joint application to the Division, which shall consider whether the application meets the following criteria:
- The proposed sponsor firm and proposed new business firm each meet the requirements of this subchapter to be a sponsor firm and new business firm, respectively;
- The new business firm intends to relocate to the State of Delaware as a result of recruitment efforts by the sponsor firm, including, but not limited to, written solicitations, inducements, or other incentives, and intends to establish a Delaware business location, and to obtain a Delaware business license within 8 months of the date of application;
- The new business firm intends to employ 3 or more full-time Delaware employees within 8 months of the date of application; and
- The new business firm is not receiving a tax credit pursuant to the New Economy Jobs Program set forth in subchapter IX of Chapter 20 of this title.
The Division shall review the joint application, and the Director shall, within the exercise of the Director’s discretion, certify those applications that meet these standards.
Additional information from the Delaware Division of Small Business.
DELAWARE CLEAN VEHICLE REBATE PROGRAM
DELAWARE DEPARTMENT OF NATURAL RESOURCES AND ENVIRONMENTAL CONTROL
The Delaware Clean Vehicle Rebate Program provides incentives for Delawareans to buy or lease new electric vehicles. The vehicle rebate program encourages the deployment of electric vehicles as part of Delaware’s commitment to innovation in the transportation sector, reducing greenhouse gases and improving the state’s air quality. The Delaware Clean Vehicle Rebate is not a tax credit. It is a cash rebate for purchased or leased vehicles, and it must be applied for within 90 days of the purchase date.
Eligibility Requirements
Applicant Eligibility:
- Delaware residents (must provide copy of driver's license).
- Active-duty military members stationed in Delaware with a temporary Delaware residential address but with permanent residency in another state (must provide Proof of Service letter).
- Businesses, nonprofit organizations or other organizations with both a physical location and address in Delaware and a Delaware business license. (Must provide copy of business license if applying for the rebate as a business. Temporary business licenses are not accepted.)
- State agencies or departments, municipal governments or county governments in the state of Delaware.
- Schools, colleges and universities located in the state of Delaware.
Vehicle Eligibility:
- Must be purchased or leased on or after May 1, 2023, the launch of the Clean Vehicle Rebate Program Funding Round 6*
- Be on the list of Eligible Vehicles.
- Have a base MSRP of less than $50,000.
- Be one of the following vehicle types:
- Battery Electric Vehicles (BEV) – Vehicles that are powered by high-capacity batteries that are charged using an external power source. Battery electric vehicles do not have a gasoline or diesel internal combustion engine.
- Plug-in Hybrid Electric Vehicles (PHEV) – Vehicles that use batteries that are charged by an external power source in conjunction with a gasoline or diesel internal combustion engine.
- Must be a new vehicle registered in the state of Delaware.
Application Information
Applying through a participating Delaware dealership: There are many dealerships in Delaware that can accept the rebate on the customer's behalf and provide the rebate at the point of sale. Browse a list of participating dealerships in Delaware.
Applying for the rebate post-purchase: To apply for a rebate under the Clean Vehicle Rebate Program, applicants must first register as a supplier with the state of Delaware at esupplier.erp.delaware.gov. Once the supplier file is approved, applicants will receive a Supplier ID number. A Supplier ID number is required to complete the application. Applications will not be processed or paid without the Supplier ID Number.
Note: You only need to register as a supplier once. If you have previously submitted your information, you do not need to submit it again. For assistance, please contact the Supplier Maintenance Team at 302-526-5600 or [email protected].
All applicants are required to submit the following documentation:
- A copy of the purchase or lease agreement.
- A current copy of the permanent or temporary vehicle registration card
- One of the following is required as a proof of residency or operation in the state of Delaware:
- A copy of the applicant’s driver’s license.
- A copy of a military proof of service letter.
- A copy of an applicant’s Delaware business license (temporary business licensees are not accepted) or other form of accepted documentation as listed in the Implementation Manual.
DELAWARE STRATEGIC FUND
DELAWARE DIVISION OF SMALL BUSINESS
The Delaware Strategic Fund is the primary funding source to support business retention and expansion through grants and low-interest loans to projects that grow the state's economy in a significant way.
Eligibility Requirements
Examples of projects that may qualify for assistance:
- New or expanding manufacturing facility
- New or expanding distribution center
- New or expanding corporate headquarters
- New or expanding research facility
For more information, please contact the Delaware Division of Small Business.
Application Information
For more information, please contact the Delaware Division of Small Business:
Becky Harrington
Delaware Division of Small Business
820 North French Street
Wilmington, DE 19801
Phone: 302-577-8477
[email protected]
Additional information available from the Delaware Division of Small Business.
EDGE GRANT
DELAWARE DIVISION OF SMALL BUSINESS
The EDGE Grant program gives qualified small businesses in Delaware an opportunity to level the playing field compared to larger businesses, by offering access to significant capital.
Eligibility Requirements
Qualified applications must:
- Have been in operation less than 7 years
- Employ 10 people or fewer
- Be majority located in Delaware
- Have not received a previous Strat Fund grant
Application Information
Edge applications can be found on our website, https://business.delaware.gov/edge/ when the application period is open, and by clicking on the ‘download application’ link. You may fill out the application online and submit it as a PDF to [email protected] (applications are only accepted electronically within the designated timeframe).
Additional information available from the Delaware Division of Small Business.
ELECTRIC VEHICLE CHARGING EQUIPMENT REBATES
DELAWARE DEPARTMENT OF NATURAL RESOURCES AND ENVIRONMENTAL CONTROL
The Department of Natural Resources and Environmental Control offers rebates to reduce the cost of electric vehicle charging stations that can be installed at multi-family dwellings, workplaces, outside businesses and in other public places.
Eligibility Requirements
The Electric Vehicle Charging Equipment Rebate Program provides rebates for Level 2 electric vehicle charging stations purchased and installed after May 1, 2023.
Four types of charging stations are eligible:
- Multi-family: Properties with four or more residential units, such as condos and apartments.
- Public Access: Charging stations that are open to the public, such as retail centers, park and rides, hospitals, schools and universities, downtown areas, parking garages, hotels, parks and destinations and attractions.
- Workplace: Employers in a non-residential place of business.
- Fleet: Charging stations for fleet vehicles only and not available to the public.
Application Information
Application Process: (visit website for a full list of links)
Step 1 - Read the Rebate Program Description and Guidance document for the type of project you are applying for (Multi-Family Dwellings or Public Access, Fleet and Workplace)
Step 2 - Register as a “supplier” with the state of Delaware using the Division of Accounting eSupplier Portal. (Find more information in the New Supplier Registration Guide or view this instructional video)
If you have previously registered as a Supplier, you do not need to complete this step.
Step 3 - Complete the pre-approval application.
Step 4 - DNREC staff will respond within 10 business days with an approval letter with the approved rebate amount.
Step 5 - Complete the installation of the project within one year of the pre-approval letter.
Step 6 - Submit final paid invoices and documentation and a copy of the approval letter to [email protected] for reimbursement.
INDIVIDUALS WITH DISABILITIES EMPLOYER TAX CREDIT
DELAWARE DIVISION OF REVENUE
The Individuals with Disabilities Tax Credit incentivizes Delaware employers to hire job candidates referred by vocational rehabilitation facilities.
Eligibility Requirements
A qualified employer must hire and employ 1 or more vocational rehabilitation referrals. Vocational rehabilitation referral means any individual who is certified as:
- Having a physical or mental disability which, for such individual, constitutes or results in a substantial impediment to employment; and
- Having been referred to the employer upon completion of, or while receiving, rehabilitative services.
"Sustained employment" means a period of employment that is not less than 185 days during the taxable year.
Contact Information
Becky Harrington
Delaware Division of Revenue
820 North French Street
Wilmington, DE 19801
Phone: 302-576-6577
[email protected]
Additional information available from the Delaware Prosperity Partnership.
NEIGHBORHOOD ASSISTANCE TAX CREDIT PROGRAM
DELAWARE STATE HOUSING AUTHORITY
The Neighborhood Assistance Act (NAA) Program encourages businesses and individuals who pay Delaware state income taxes to invest in programs serving impoverished neighborhoods or serving low and moderate income families.
Eligibility Requirements
Taxpayer eligibility requirements:
- The NAA Tax Credit is available to any individual or business paying income tax in Delaware and whose contribution is made to an approved NAA non-profit organization.
- Contributor must meet the minimum contribution amounts: Business, $10,000; Individuals, $2,500.
- Maximum contribution cannot exceed $100,000 per tax year. ($50,000 maximum credit).
- The maximum amount of contributions by any taxpayer in a 3-year period is $200,000. ($100,000 in NAA tax credits over a 3-year period).
Application Information
A full list of required materials and documents are found on the program website for non-profits and taxpayers.
Additoinal information available from the Delaware State Housing Authority.
NEW BUSINESS FACILITY TAX CREDITS
DELAWARE DIVISION OF REVENUE
Encourage startups and investments into new business facilities and require creation of 5 new jobs and provide a capital investment of $200,000.
Eligibility Requirements
Eligible businesses must create 5 new jobs and provide a capital investment of $200,000 ($40,000 per employee).
Application Information
Please contact the agency website and see Form 402AP 9901 for details.
Additional information from the Deleware Prosperity Partnership.
PUBLIC UTILITY TAX EXEMPTION/REDUCTION
DELAWARE DIVISION OF REVENUE
Delaware offers a range of exemptions and reductions to its Public Utility Tax for a range of industries and scenarios.
Eligibility Requirements
To qualify, each Delaware business location must submit a completed Form 5507, Claim for Refund for Public Utility Tax, to the Division of Revenue.
Application Information
Mail Form 5507 to Division of Revenue, P.O. Box 2044, Wilmington, Delaware 19899-2044. You must attach to Form 5507 sufficient documentation to support the payment of the Public Utility Tax in the qualifying activity. If you are claiming a refund as a result of an expansion of an existing facility or the creation of a new facility you must document the Public Utility Tax paid at each facility.
Additional information from the Deleware Division of Revenue.
SSBCI LOAN PARTICIPATION PROGRAM
DIVISION OF SMALL BUSINESS
The State Small Business Credit Initiative Participation Loan enables small businesses in Delaware to obtain short to long-term financing to help businesses grow and expand, ultimately creating and retaining jobs in Delaware.
Eligibility Requirements
For more information, please contact the Delaware Division of Small Business.
Delaware Division of Small Business
820 North French Street
Wilmington, DE 19801
Phone: 302-577-8477
[email protected]
Application Information
- The borrower applies to receive a loan or line of credit from a financialinstitution that participates in the program.
- If the participating financial institution chooses to issue financing to theborrower and believes that the borrower qualifies to participate in the DELPPprogram, the financial institution submits a complete DELPP application toDSB.
- The DSB reviews the application and notifies the financial institution if the loanhas been accepted for participation. If the loan has been accepted forparticipation, there will be a contract drawn up between the DSB and theparticipating financial institution, which outlines the terms of the loan. Eachnewly approved loan requires a separate executed Participation Agreement.
- The DSB will issue payment to the financial institution along with the fullyexecuted Participation Agreement.
- The financial institution administers the total loan amount (including DSB’sportion of the loan), and remits DSB’s portion of borrower payments to theDSB as the borrower payments are received.
Additional information from the Delaware Division of Small Business.
VETERANS OPPORTUNITY CREDIT
DELAWARE DIVISION OF REVENUE
The Veterans Opportunity Credit is a refundable tax credit that is an incentive to hire veterans who served overseas conflicts since 2001.
Eligibility Requirements
- Veterans who served in recent overseas conflicts which a veteran received: (i) the Afghanistan Campaign Medal; (ii) the Iraq Campaign Medal; or (iii) the Global Ware on Terrorism Expeditionary Medal.
- Veterans initially hired on or after January 1 2012 and prior to January 1, 2016.
- Veterans who have been employed for at least 185 days during the taxable year.
Application Information
File using DE Form 700.
Additional information from the Deleware Division of Revenue.
WORKFORCE TRAINING GRANT
DELAWARE DIVISION OF SMALL BUSINESS
The Workforce Training Grant is a matching grant program available to eligible Delaware companies. It is designed for Delaware employers who need to raise the skill levels of their existing workforce through customized training.
Eligibility Requirements
Applicants for Workforce Training grants must be able to demonstrate a business need for the training. Training programs should be related to new and innovative processes or programs, machinery, or technology-related upgrades. Training projects that create new jobs within the State will be given priority. The full rubric can be found here: https://business.delaware.gov/wp-content/uploads/sites/118/2023/05/Workforce-Training-Grant-Evaluation-Rubric-and-Score-Sheet.pdf
Application Information
The Division will use the Workforce Training Grant Assessment Form to ensure that all grants are evaluated consistently. Grant applications will be evaluated in the order in which they are received. All decisions on grant funding will be communicated to the applicant within 45 days. Training programs cannot begin until a fully executed contract exists; the Division will not fund programs retroactively.
Additional information available from the Deleware Division of Small Business.
DELAWARE AGRICULTURAL FINANCING PROGRAM (DAFP)
DELAWARE DIVISION OF SMALL BUSINESS
Equipment loans will be available for supporting activities including production, processing, packaging, aggregation, and distribution for both small and large-scale operations.
DELAWARE BROWNFIELDS REVOLVING LOAN FUND
DELAWARE DEPARTMENT OF NATURAL RESOURCES AND ENVIRONMENTAL CONTROL
The Brownfield Revolving Loan Fund provides loans to eligible brownfield developers for remediation activities on a Brownfield Site.
DELAWARE HISTORIC PRESERVATION TAX CREDIT
DELAWARE DIVISION OF HISTORICAL AND CULTURAL AFFAIRS
Delaware's Historic Preservation Tax Credit Program assists in preserving and rehabilitating historic buildings throughout Delaware.
DELAWARE TECHNICAL INNOVATION PROGRAM (DTIP)
DELAWARE DIVISION OF SMALL BUSINESS
Delaware Technical Innovation Program offers transition grants for companies that have completed Phase I and applied for Phase II of the federal Small Business Innovation Research or Small Business Technology Transfer programs as they work to bring new products to market.
GRADUATED LAB SPACE INCENTIVE PROGRAM
DELAWARE DIVISION OF SMALL BUSINESS
The Delaware Graduated Lab Space Incentive Program is designed to support existing companies and attract new companies requiring lab space. The program addresses the shortage of lab space that is crucial to ensuring that Delaware can maintain and attract innovative, scalable companies, as well as reap the economic benefit those growing companies provide.
HAZARDOUS SUBSTANCE CLEANUP ACT BROWNFIELD GRANTS
DELAWARE DEPARTMENT OF NATURAL RESOURCES AND ENVIRONMENTAL CONTROL
The program provides grant funding opportunities to assist in paying reasonable remedial costs incurred in responding to a hazardous substance remedy.
HAZARDOUS SUBSTANCE SITE CLEANUP LOAN PROGRAM
DELAWARE DEPARTMENT OF NATURAL RESOURCES AND ENVIRONMENTAL CONTROL
The Hazardous Substance Site Cleanup Loan Program provides low interest loans for project costs directly related to improving, restoring or protecting human health and the environment by remediating releases of hazardous substances.
LAND AND HISTORIC RESOURCE CONSERVATION TAX CREDIT
DELAWARE DIVISION OF REVENUE
Delaware’s Historic Preservation Tax Credit Program assists in preserving and rehabilitating historic buildings throughout Delaware. Applicants may be eligible for tax credits for rehabilitation work on properties that are listed in the National Register of Historic Places, or are certified as contributing to a listed historic district. The rehabilitation work must meet the Secretary of the Interior’s Standards for Rehabilitation.
NEW ECONOMY JOBS PROGRAM CREDITS
DELAWARE DIVISION OF REVENUE
The New Economy Jobs program creates incentives to attract and retain Delaware employers which employ the most qualified individuals working in the forefront of traditional and emerging business competition.
RESEARCH AND DEVELOPMENT TAX CREDIT
DELAWARE DIVISION OF REVENUE
The Research and Development Tax Credit is for qualified Delaware businesses that incur research and development expenses.
SITE READINESS FUND
DELAWARE DIVISION OF SMALL BUSINESS
The Delaware Site Readiness Fund promotes economic growth and stability by investing in the development or improvement of commercial and industrial sites to attract job-creating businesses.
SPECIALTY CROP BLOCK GRANT PROGRAM
DELAWARE DEPARTMENT OF AGRICULTURE
Individual producers, producer groups, organizations and associations, as well as state and local organizations, academic, and other specialty crops stakeholders can apply for funding for projects that benefit the specialty crop industry as a whole and provide a positive impact with measurable outcomes.
SSBCI DELAWARE CAPITAL ACCESS PROGRAM
DELAWARE DIVISION OF SMALL BUSINESS
The Delaware Capital Access Program is designed to use a small number of public resources to generate a large amount of private bank financing.
TAX-EXEMPT BOND FINANCING
DELAWARE DIVISION OF SMALL BUSINESS
The program allows the Division to act as the conduit issuer on bond for tax-exempt, non-profit organizations.
TRANSPORTATION INFRASTRUCTURE INVESTMENT FUND
DELAWARE DEPARTMENT OF TRANSPORTATION
The Transportation Infrastructure Investment Fund is established to provide economic assistance for renovation, construction, or any other type of improvements to roads and related transportation infrastructure in order to attract new businesses to this state, or expand existing businesses in this State, when such an economic development opportunity would create a significant number of direct, permanent, quality full-time jobs.
YOUNG FARMER LOAN PROGRAM
DELAWARE DEPARTMENT OF AGRICULTURE
The Young Farmer Loan Program offers a 30-year, no interest loan to help young farmers purchase farmland, one of the chief obstacles to starting out in business.
District of Columbia
BUSINESS ENERGY REBATES PROGRAM
DISTRICT OF COLUMBIA SUSTAINABLE ENERGY UTILITY
The DC SEU Business Energy Rebates program provides DC businesses and institutions with financial rebates for installing energy-efficient equipment.
Eligibility Requirements
- Projects must involve a facility improvement that results in a permanent reduction in electrical and or/natural gas energy usage.
- Projects must meet the requirements detailed in DCSEU’s technical specifications
- Projects that are NOT eligible for rebates include, but are not limited to, the following:
- Fuel switching
- Changes in operational and/or maintenance practices or simple control modifications not involving capital expenditure
- On-site electricity generation
- Projects focused primarily on power-factor improvement
- Projects that involve peak-shifting
- Renewable-energy projects
- Any product installed at a facility must be sustainable an provide 100% of energy benefits as stated in the application for a period of at least five (5) years or for the life of the product, whichever is less.
- All products must be new; used or refurbished equipment is NOT eligible for rebates.
- Installations must be completed in accordance with all laws, codes and other requirements applicable under federal, state and local authority.
- Projects must be installed on the municipal utility account listed on the submitted utility bill.
All projects must be submitted to DCSEU for pre-approval. Incomplete applications may not be processed.
Application Information
To apply for rebates for your business, follow these steps:
- Verify the eligibility requirements of your product.
- You can submit multiple products for the same address.
- We only issue one check to one recipient per application.
- A contractor or business can submit on behalf of a customer and vice versa. An email address will be required for both the contractor and the customer.
- For questions about the application process, please call 202-479-2222 or email [email protected].
- The DCSEU also offers enhanced rebates for affordable multifamily buildings:
- Lighting (Now available through the Online Rebate Center)
- You must create and/or log into an account.
- All submissions must be pre-approved.
- Technical specifications for products are required for pre-approval.
- A copy of the rebate recipient's W-9 is required for pre-approval.
- PEPCO and/or Washington Gas utility bills are required for pre-approval.
Additional information available from the District of Columbia Sustainable Energy Utility.
DC BIZCAP - COLLATERAL SUPPORT PROGRAM
DEPARTMENT OF INSURANCE, SECURITIES AND BANKING
The Collateral Support Program (CSP) provides funds for deposit with a participating lender (a participating bank, credit union or community development financial institution) to provide the necessary collateral to cover the borrower’s collateral shortfall.
Eligibility Requirements
Loan funds may be used for the following authorized purposes: Start-up costs, Working capital, Business procurement, Franchise fees, Equipment, Inventory, Purchase, construction, renovation or tenant improvement of commercial real estate, Tangible and intangible property (except goodwill)
Borrowers must be:
- A non-public company registered in the District and subject to taxation in the District (e.g. a corporation, partnership, joint venture, cooperative, sole proprietorship, District-designated charitable and other non-profit institution)
- Fewer than 750 existing employees, including subsidiaries and affiliates
- Principal offices within District (demonstrated by lease or deed)
- At least 75% of employees, including subsidiaries and affiliates, must work in and provide services in the District
- At least 25% of W-2 employees must be District residents
- Business owner must provide a personal guaranty
- Closing and annual fees of up to 4%
- Maximum of 50% of commercial loan up to $1 million
- Principals must not have been convicted of a sex offense against a minor
- Principals must not have any conflict of interest with the lender, investor or the government
Currently, there are 10 participating lenders (see list of DC BizCAP Participating Lenders). Additional lenders may apply to participate in the CSP. Lenders must be:
- Insured Depository Institutions
- Insured Credit Unions
- Community Development Financial Institutions (CFDIs)
Application Information
See website for enrollment forms.
Additional information available from the Department of Insurance, Securities and Banking.
DC BIZCAP - LOAN PARTICIPATION PROGRAM
DEPARTMENT OF INSURANCE, SECURITIES AND BANKING
The Loan Participation Program (LPP) provides capital to small businesses by either purchasing interest in the loans made by lenders or lending alongside private lenders to provide direct lending.
Eligibility Requirements
Loan funds may be used for the following authorized purposes: Start-up costs, Working capital, Business procurement, Franchise fees, Equipment, Inventory, Purchase, construction, renovation or tenant improvement of commercial real estate, Tangible and intangible property (except goodwill)
Borrowers must be:
- A non-public company registered in the District and subject to taxation in the District (e.g. a corporation, partnership, joint venture, cooperative, sole proprietorship, District-designated charitable and other non-profit institution)
- Fewer than 750 existing employees, including subsidiaries and affiliates
- Principal offices within District (demonstrated by lease or deed)
- At least 75% of employees, including subsidiaries and affiliates, must work in and provide services in the District
- At least 25% of W-2 employees must be District residents
- Business owner must provide a personal guaranty
- Closing and annual fees of up to 4%
- Maximum of 50% of commercial loan up to $1 million
- Principals must not have been convicted of a sex offense against a minor
- Principals must not have any conflict of interest with the lender, investor or the government
Currently, there are 10 participating lenders (see list of DC BizCAP Participating Lenders). Additional lenders may apply to participate in the CSP. Lenders must be:
- Insured Depository Institutions
- Insured Credit Unions
- Community Development Financial Institutions (CFDIs)
Application Information
See website for enrollment forms.
Additional information available from the Department of Insurance, Securities and Banking.
COMMERCIAL WASTE COMPACTOR DEMONSTRATION GRANT
DEPARTMENT OF SMALL AND LOCAL BUSINESS DEVELOPMENT
The Commercial Compactor Demonstration Project grant aims to help licensed DC businesses (for-profit entities) reduce sanitation issues that can attract rodents and pollute DC’s waterways.
DC BIZCAP - INNOVATION FINANCE PROGRAM
DEPARTMENT OF INSURANCE, SECURITIES AND BANKING
The program provides capital to investors that co-invest with the District in start-ups and emerging companies that seek financing alternatives to traditional commercial financing.
GREAT STREETS
OFFICE OF THE DEPUTY MAYOR FOR PLANNING & ECONOMIC DEVELOPMENT
Great Streets is a multi-year and multiple agency effort to transform under-invested corridors into thriving and inviting neighborhood centers using public actions and resources, as needed, to leverage private investment in retail, housing, offices and cultural facilities.
INDUSTRIAL REVENUE BOND PROGRAM
OFFICE OF THE DEPUTY MAYOR FOR PLANNING & ECONOMIC DEVELOPMENT
Tax-exempt bond financing for real estate purchases, tenant improvements, equipment, and other capital needs.
PAYMENTS IN LIEU OF TAXES (PILOT)
OFFICE OF THE CHIEF FINANCIAL OFFICER
The Payments In Lieu of Taxes Act of 2004 (PILOT Act) authorizes the issuance of bonds to finance development projects in the District, including the development, redevelopment, and expansion of business, commerce, housing, or tourism, or the provision of necessary or desirable public infrastructure improvements.
QUALIFIED HIGH TECHNOLOGY COMPANIES (QHTC)
OFFICE OF THE DEPUTY MAYOR FOR PLANNING & ECONOMIC DEVELOPMENT
Qualified High Technology Companies (QHTC) can claim tax benefits to support their growth in the District. These benefits include a reduced capital gains tax rate and lowered costs to hire and train workers.
RETAIL TAX INCREMENT FINANCING
OFFICE OF THE DEPUTY MAYOR FOR PLANNING AND ECONOMIC DEVELOPMENT
The Retail Incentive Act of 2004, as amended, authorizes the issuance of TIF bonds to promote retail development in “Retail Priority Areas” designated by the Mayor.
SUPERMARKET TAX INCENTIVES
OFFICE OF THE DEPUTY MAYOR FOR PLANNING & ECONOMIC DEVELOPMENT (DMPED)
Through the Supermarket Tax Exemption Act of 2000, the District waives certain taxes and fees to supermarkets that locate in specific neighborhoods.
TAX ABATEMENT FINANCIAL ANALYSIS (TAFA)
OFFICE OF ECONOMIC DEVELOPMENT FINANCE
Allows tax relief on certain properties that do not qualifying under existing provisions of District law.
TAX INCREMENT FINANCING
OFFICE OF THE DEPUTY MAYOR FOR PLANNING & ECONOMIC DEVELOPMENT
Tax Increment Financing (TIF) is a program through which the District provides economic development project funds by borrowing against future tax receipts expected to be generated as a result of the construction and operation of projects partially funded by these funds.
VITALITY FUND
OFFICE OF THE DEPUTY MAYOR FOR PLANNING & ECONOMIC DEVELOPMENT
The Employment Center Vitality and Local Jobs Creation Fund (Vitality Fund) is a multi-year, performance-based incentive program designed to support existing companies in target industries that are actively planning to relocate, expand, or retain their physical location in Washington, DC.
Florida
FLORIDA CLEAN ENERGY INVESTMENT PROGRAM
FLORIDA OPPORTUNITY FUND
The Clean Energy Investment Program was created to promote the adoption of energy efficient and/or renewable energy (EE/RE) products and technologies in Florida by providing funding to businesses to increase the use of EE/RE technologies, equipment and materials in the State.
Eligibility Requirements
At a minimum, applicants must be able to demonstrate that a proposed funding opportunity meets the following criteria:
- Applicants must have existing operations or a significant presence in the State of Florida at the time of Program funding, or must establish such presence concurrent with Program funding.
- Applicants must have received capital (whether prior to or concurrent with Program funding) of an amount at least equal to the amount of Program funds being requested.
- The EE/RE products or technology to be implemented using Program funding must be currently commercially available.
- Demonstration projects must comport with applicable state and federal regulations and be the first such demonstration within the State of Florida.
- Program funds must be used within the Focus Areas and must be consistent with the activities further described in the Program application
Application Information
Applicants should reference the Program Overview and Application for additional details regarding permitted activities to ensure comportment of their proposed funding opportunity.
Additional information available from the Florida Opportunity Fund.
FLORIDA MICROFINANCE PROGRAMS
FLORIDA DEPARTMENT OF ECONOMIC OPPORTUNITY
The Florida Microfinance Programs provide Entrepreneurs and Small Businesses in Florida access to credit. The Act consists of two programs: a Loan Program and a Guarantee Program.
Eligibility Requirements
Eligibility for the Microfinance Loan and Microfinance Guarantee programs is limited to businesses and entrepreneurs with 25 or fewer employees and average gross annual revenues of $1.5 million.
Application Information
Contact the agency for details:
Florida Department of Economic Opportunity
107 East Madison Street
Tallahassee, FL 32399
Phone: 850-245-7105
INCUMBENT WORKER TRAINING PROGRAM
CAREERSOURCE FLORIDA
The IWT Program was created for the purpose of providing grant funding for continuing education and training of incumbent employees at existing Florida businesses.
Eligibility Requirements
For the purposes of the IWT program, an Incumbent Worker is defined as follows:
- At least one employee of the applicant business, working at least 37.5 hours per week and receives a W2;
- At least 18 years of age
- A citizen of the United States or a non-citizen whose status permits employment in the United States;
- A Florida resident working at a physical location in Florida
- Employed six months before the signature date of the application.
Companies applying for an IWT grant must meet the following criteria:
- Be a "for-profit" company in the State of Florida
- In operation for a minimum of one year prior to the application date (as verified on sunbiz.org)
- Provide a description of how the training is related to the competitiveness of both the business and the employee receiving training.
- Demonstrate a commitment to retain or avert the layoff of employees receiving training.
Application Information
While not required, priority is given to:
- Businesses that provide employees with opportunities to acquire new or improved skills by earning a credential on the Master Credentials List.
- Hospitals operated by nonprofit or local government entities that provide nursing opportunities to acquire new or improved skills.
- Businesses whose grant proposals represent a significant upgrade in employee skills.
- Businesses with 25 employees or fewer, businesses in rural areas, and businesses in distressed inner-city areas.
- Businesses in a qualified targeted industry, or businesses whose grant proposals represent a significant layoff avoidance strategy
While this priority does not include an increased reimbursement percentage, applications that meet one of these conditions will receive priority during times of limited funding.
A full list of required materials and documents are found on the program website.
Additional information available from CareerSource Florida.
RURAL JOB TAX CREDIT PROGRAM
FLORIDA DEPARTMENT OF REVENUE
The Rural Job Tax Credit Program offers an incentive for eligible businesses located within one of 36 designated Qualified Rural Areas to create new jobs.
Eligibility Requirements
To be eligible for a tax credit, a business must be physically located within one of the 36 designated Qualified Rural Areas and be predominately engaged in (or headquarters for) activities classified in one of the following SIC Codes:
- 01 – 09 Agriculture; Forestry; and Fishing
- 20 - 39 Manufacturing
- 70 Hotels and Other Lodging Places
- 422 Public Warehousing and Storage
- 781 Motion Picture Production/Allied Services
- 7391 Research and Development
- 7992 Public Golf Courses
- 7996 Amusement Parks
- Call center
- The list of target industries for the Qualified Target Industry Refund Program (the list can be found in the application)
The list of Designated Rural Areas, the minimum number of qualified employees, as well as the tax credit per employee can be found in the application.
A qualified employee is any employee of an eligible business who performs duties in connection with the operations of the business on a regular, full-time basis for an average of at least 36 hours per week for at least 3 months within the qualified rural area in which the eligible business is located. An owner or partner of the eligible business is not a qualified employee.
Application Information
Application Link
Additional information from the Florida Department of Commerce.
URBAN HIGH-CRIME AREA JOB TAX CREDIT PROGRAM
FLORIDA DEPARTMENT OF ECONOMIC OPPORTUNITY
The Urban Job Tax Credit Program offers an incentive for eligible businesses located within one of the 13 designated urban areas to create new jobs.
Eligibility Requirements
To be eligible for a tax credit, a business must be physically located within one of the 13 designated urban high-crime areas and be predominately engaged in (or headquarters for) activities classified in one of the following SIC Codes:
- 01 – 09 Agriculture; Forestry; and Fishing
- 20 – 39 Manufacturing
- 50 – 57 Retail: Gen. Merchandise.; Food; Apparel, etc.
- 59 Misc. Retail (No Eating/Drinking)
- 70 Hotels and Other Lodging Places
- 422 Public Warehousing and Storage
- 781 Motion Picture Production and Allied Services
- 7391 Research and Development
- 7992 Public Golf Courses
- 7996 Amusement Parks
- Call center
A list of the designated urban areas, tiers, and urban area numbers, as well as the minimum number of qualified employees and the tax credit allowed can be found in the application.
A qualified employee is any employee of an eligible business who performs duties in connection with the operations of the business on a regular, full-time basis for an average of at least 36 hours per week for at least 3 months within the qualified high-crime area in which the eligible business is located. An owner or partner of the eligible business is not a qualified employee.
Application Information
Application Link
Additional information available from the Florida Department of Commerce.
BLACK BUSINESS LOAN PROGRAM
FLORIDA DEPARTMENT OF ECONOMIC OPPORTUNITY
The Black Business Loan Program provides loans, loan guarantees, or investments through Loan Administrators to black business enterprises that cannot otherwise obtain capital through conventional lending institutions but who could otherwise compete successfully in the private sector.
BOND FINANCING
FLORIDA DEVELOPMENT FINANCE CORPORATION
Florida Development Finance Corporation (FDFC) offers tax-exempt, low-interest bond financing to qualified, financially sound small manufacturers and 501(c)(3) organizations. The minimum transaction size is approximately $1,000,000 in order to make the closing costs financially viable to the Borrower.
BROWNFIELD REDEVELOPMENT BONUS FUND
ENTERPRISE FLORIDA
Brownfield Redevelopment Bonus is available to encourage redevelopment and job creation within designated brownfield areas. A pre-approved applicant may receive a tax refund equal to 20 percent of the average annual wage of the new jobs created in a designated brownfield area up to a maximum of $2,500 per new job created.
CAPITAL INVESTMENT TAX CREDIT
ENTERPRISE FLORIDA
The Capital Investment Tax Credit is used to attract and grow capital-intensive industries in Florida.
COMMUNITY CONTRIBUTION TAX CREDIT PROGRAM
FLORIDA DEPARTMENT OF ECONOMIC OPPORTUNITY
The Community Contribution Tax Credit Program provides a financial incentive (up to 50 percent tax credit or sales tax refund) to encourage Florida businesses to make donations toward community development and housing projects for low-income persons.
CONTAMINATED SITE REHABILITATION AND HAZARDOUS WASTE FACILITY TAX CREDIT (VOLUNTARY CLEANUP TAX CREDIT)
FLORIDA DEPARTMENT OF REVENUE
The Voluntary Cleanup Tax Credit encourages participants to conduct voluntary cleanup of certain dry cleaning solvent contaminated sites and brownfield sites in designated brownfield areas.
ECONOMIC DEVELOPMENT TRANSPORTATION FUND
ENTERPRISE FLORIDA
The Economic Development Transportation Fund, commonly referred to as the Road Fund.
ECONOMIC GARDENING TECHNICAL ASSISTANCE PILOT PROGRAM
GrowFL
The Florida Economic Gardening Technical Assistance Pilot Program (GrowFL) was created to stimulate investment in the Florida economy by providing technical assistance to expanding businesses. The University of Central Florida Economic Gardening Institute implemented the program using state funding.
ENERGY SALES AND USE TAX EXEMPTIONS
FLORIDA DEPARTMENT OF REVENUE
Sales and use taxes related to energy are exempted.
EXPORT ASSISTANCE AND FINANCING
FLORIDA EXPORT FINANCE CORPORATION
The FEFC will assist exporters and lenders in arranging loans exceeding the FEFC limits in order to complete an export sale of any size including Ex-Im Bank product and project loans and SBA loans. The FEFC, as a holder of an Ex-Im Bank Umbrella Insurance Policy, will assist exporters and lenders in obtaining credit insurance to mitigate foreign risk.
FLORIDA DEFENSE SUPPORT TASK FORCE GRANTS
SELECT FLORIDA
The Florida Defense Support Task Force is the main body of support for the defense industry in Florida, awarding grants and guiding the future of military operations in the state.
FLORIDA ENTERTAINMENT INDUSTRY SALES TAX EXEMPTION
FLORIDA OFFICE OF FILM AND ENTERTAINMENT
Any qualified production company producing motion pictures, made for television motion pictures, television series, commercial advertising, music videos, or sound recordings in Florida may be eligible for a sales-and-use tax exemption on certain production related purchases in Florida.
FLORIDA FIRST BUSINESS BOND POOL
ENTERPRISE FLORIDA
Florida First Business Bond Pool reserves 20 percent of Florida's total annual private activity bond allocation for large industrial projects making significant contributions to Florida's economy.
FLORIDA FUND OF FUNDS PROGRAM
FLORIDA OPPORTUNITY FUND
The Fund of Funds program was created to realize significant long-term capital appreciation by identifying and investing in a diversified, high-quality portfolio of seed and early-stage venture capital funds that target (in whole or in part) investment opportunities within Florida.
FLORIDA GROWTH FUND
FLORIDA STATE BOARD OF ADMINISTRATION
The Florida Growth Fund manages capital dedicated to prudent investment in technology and growth-related businesses with a significant presence in the state of Florida.
FLORIDA MINORITY BUSINESS LOAN MOBILIZATION PROGRAM
FLORIDA DEPARTMENT OF MANAGEMENT SERVICES
The Florida Minority Business Loan Mobilization Program promotes the development of minority business enterprises to increase the ability to compete for state contracts.
FLORIDA NEW MARKET DEVELOPMENT PROGRAM
FLORIDA GOVERNOR’S OFFICE OF TOURISM, TRADE, & ECONOMIC DEVELOPMENT
The program encourages capital investment in low-income communities by allowing taxpayers to earn credits by investing in qualified Community Development Entities (CDEs) that make investments in active low-income community businesses.
FLORIDA RECYCLING LOAN PROGRAM
FLORIDA FIRST CAPITAL FINANCE CORPORATION
The Florida Recycling Loan Program provides Florida businesses with low-cost, long-term, fixed interest rate loans for the purchase or refinance of equipment and machinery used to expand industrial recycling activities throughout the state.
FLORIDA VENTURE CAPITAL PROGRAM
FLORIDA OPPORTUNITY FUND
In connection with the Small Business Jobs Act of 2010 and the State Small Business Credit Initiative, the Florida Venture Capital Program was created to provide funding to emerging Florida companies (or companies locating in Florida) with perceived long-term growth potential.
HIGH IMPACT BUSINESS PERFORMANCE INCENTIVE GRANT
ENTERPRISE FLORIDA
The High Impact Business Performance Incentive Grant is a negotiated incentive used to attract and grow major high impact facilities in Florida.
PERMIT STREAMLINING INITIATIVES
ENTERPRISE FLORIDA
Florida has developed permit streamlining procedures to assist existing, expanding or new-to-Florida businesses.
QUALIFIED TARGETED INDUSTRY TAX REFUND PROGRAM
ENTERPRISE FLORIDA
The Qualified Target Industry (QTI) Tax Refund program provides an incentive for target industries to locate new facilities in Florida or to expand existing facilities in Florida.
QUICK ACTION CLOSING FUND
ENTERPRISE FLORIDA
The Quick Action Closing Fund (QACF) is an incentive used to close the deal when Florida faces severe competitive disadvantages for high impact economic development projects of existing or new businesses. The program is designed to be flexible, allowing a quick response to meet the unique needs of the respective businesses. The terms and conditions of each contract are individually structured.
QUICK RESPONSE TRAINING PROGRAM
CAREERSOURCE FLORIDA
The program is a state-funded grant program that provides funding to qualifying businesses to train their net new, full-time employees.
REBUILD FLORIDA BUSINESS LOAN FUND
FLORIDA DEPARTMENT OF ECONOMIC OPPORTUNITY
The Rebuild Florida Business Loan Fund assists existing and new small businesses that were impacted directly or indirectly by a disaster with rebuilding and expanding.
RENEWABLE ENERGY TECHNOLOGIES INVESTMENT TAX CREDIT
ENTERPRISE FLORIDA
RESEARCH AND DEVELOPMENT TAX CREDIT
FLORIDA DEPARTMENT OF REVENUE
Florida provides a corporate income tax credit available to eligible businesses for certain qualified research expenses.
RURAL COMMUNITY DEVELOPMENT REVOLVING LOAN PROGRAM
FLORIDA DEPARTMENT OF ECONOMIC OPPORTUNITY
The Rural Community Development Revolving Loan (RCDRL) Program was created to facilitate the use of existing federal, state, and local financial resources by providing local governments with access to financial assistance to further promote the economic viability of rural communities.
RURAL ECONOMIC DEVELOPMENT INITIATIVE
FLORIDA DEPARTMENT OF ECONOMIC OPPORTUNITY
The Rural Economic Development Initiative (REDI) was established to better serve Florida's economically distressed rural communities by providing a more focused and coordinated effort among state and regional agencies that provide programs and services for rural areas.
SALARY TAX CREDIT
FLORIDA DEPARTMENT OF REVENUE
This tax credit provides a credit against insurance premium taxes of the salary of employees of the insurer.
SALES AND USE TAX EXEMPTION FOR RESEARCH OR DEVELOPMENT COSTS
FLORIDA DEPARTMENT OF REVENUE
Research or development costs are exempt from sales tax.
SALES AND USE TAX EXEMPTIONS FOR MACHINERY AND EQUIPMENT
FLORIDA DEPARTMENT OF REVENUE
Sales and use taxes are exempt on the purchase of machinery and equipment.
SMALL BUSINESS EMERGENCY BRIDGE LOAN PROGRAM
FLORIDA DEPARTMENT OF ECONOMIC OPPORTUNITY
The Florida Small Business Emergency Bridge Loan program provides short-term, zero-interest working capital loans that are intended to bridge the gap between the time a disaster impacts a business and when a business has secured longer term recovery funding such as federally or commercially available loans, insurance claims or other resources.
SPORTS DEVELOPMENT PROGRAM
FLORIDA DEPARTMENT OF ECONOMIC OPPORTUNITY
This program provides funding for the proposed construction, reconstruction, renovation, or improvement of a facility or the proposed acquisition of land to construct a new facility and construction or improvements for state-owned land necessary for the efficient use of the facility.
VETERANS FLORIDA WORKFORCE GRANT
VETERANS FLORIDA
The Veterans Florida Workforce Grant reimburses qualified employers 50% of industry skills-based training costs for new or current employees.
WEATHERIZATION ASSISTANCE PROGRAM
FLORIDA DEPARTMENT OF ECONOMIC OPPORTUNITY
The Weatherization Assistance Program (WAP) annually provides grant funds to community action agencies, local governments, Indian tribes and non-profit agencies to provide specific program services for low-income families of Florida.
Hawaii
CAPITAL GOODS EXCISE TAX CREDIT
HAWAII DEPARTMENT OF TAXATION
Each taxpayer subject to the Hawaii net income tax may claim a capital goods excise tax credit for the purchase or importation of eligible depreciable tangible personal property which is used by the taxpayer in a trade or business in Hawaii.
Eligibility Requirements
Each taxpayer subject to Hawaii’s net income tax may claim acapital goods excise tax credit for the purchase or importation of eligible depreciable tangible personal property which is used by the taxpayer in a trade or business in Hawaii.
The property must be depreciable property with an estimated useful life or recovery period of three years or more. The property must be placed in service within Hawaii and the purchase or importation must be subject to the imposition and payment of tax at the rate of 4% under General Excise or Use Tax Laws. Individual members of partnerships, beneficiaries of estates and trusts, or shareholders of S corporations are also required to be furnished information relating to the credit on Schedule K-1 and recapture information on Part II of Form N-312. Refer also to Tax Information Release (TIR) Nos. 88-6, 88-8, 89-4, and 2001-4, and the Hawaii Administrative Rules section 18-235-110.7, for more information relating to claiming and recapturing the credit.
Application Information
Use Form N-312 to figure and claim the capital goods excise tax credit and to determine the increase in tax as a result of the recapture of the credit.
The deadline to claim the credit, including amended claims, is 12 months after the close of your taxable year. You cannot claim or amend the credit after the deadline.
ALTERNATIVE ENERGY LOAN PROGRAM
HAWAII DEPARTMENT OF AGRICULTURE
The Alternative Energy Loan Program was established to help full-time farmers, ranchers, and aquaculturalists produce renewable energy through sources such as photovoltaic, hydroelectric, wind, methane, biodiesel, and ethanol.
AQUACULTURE LOANS
HAWAII DEPARTMENT OF AGRICULTURE
Aquaculture loans are for applicants who intend to devote full-time to aquaculture.
COMMUNITY-BASED ECONOMIC DEVELOPMENT LOAN PROGRAM
DEPARTMENT OF BUSINESS, ECONOMIC DEVELOPMENT AND TOURISM
The Community-Based Economic Development (CBED) offers loans to eligible small businesses that support economic development in their communities.
ENTERPRISE ZONE PARTNERSHIP PROGRAM (EZ)
HAWAII DEPARTMENT OF BUSINESS, ECONOMIC DEVELOPMENT AND TOURISM
The Enterprise Zones (EZ) partnership is a joint state-county effort intended for eligible businesses to reduce state income and general excise taxes along with receiving county benefits for up to seven years by satisfying the EZ hiring and gross receipts requirements.
FOOD MANUFACTURING LOAN
HAWAII DEPARTMENT OF AGRICULTURE
The Food Manufacturing Loan provides credit at reasonable rates to food manufacturers.
FOREIGN TRADE ZONE NO. 9 (FTZ9)
HAWAII DEPARTMENT OF BUSINESS, ECONOMIC DEVELOPMENT AND TOURISM
Companies operating in the foreign trade zone can defer or avoid customs duty, take advantage of shifts in tariff schedule, minimize import quota risks, obtain Made in Hawaii and Made in USA" labeling.
FUEL TAX CREDIT FOR COMMERCIAL FISHERS
HAWAII DEPARTMENT OF TAXATION
The principal operator of a commercial fishing vessel may claim a refundable tax credit for certain fuel taxes paid during the taxable year.
GREEN INFRASTRUCTURE BONDS (GEMS)
DEPARTMENT OF BUSINESS, ECONOMIC DEVELOPMENT AND TOURISM
Hawaii's Green Infrastructure Bonds are for securing low-cost financing for clean energy installations, including both renewable energy and energy efficiency measures. GEMSÂ provides flexible, alternative financing options that make green energy solutions possible for a broader cross-section of ratepayers in the counties of Oahu, Maui & Hawaii.
HAWAII SMALL BUSINESS INNOVATION RESEARCH AND SMALL BUSINESS TECHNOLOGY TRANSFER GRANT PROGRAM
DEPARTMENT OF BUSINESS, ECONOMIC DEVELOPMENT AND TOURISM
The Hawaii SBIR and STTR provides matching funds to Hawaii-based companies to enhance their project development, compete for the more lucrative awards to conduct prototype development, and ultimately reach successful commercialization.
HAWAII STATE TRADE EXPANSION PROGRAM (HISTEP)
HAWAII DEPARTMENT OF BUSINESS, ECONOMIC DEVELOPMENT & TOURISM
Funded in part through a Grant with the U.S. Small Business Administration (SBA), the Hawaii State Trade Expansion Program, known as HiSTEP, is a comprehensive program designed to assist Hawaii small businesses with their export development. The program is administered by DBEDT and partner organizations in Hawaii.
HTDC MANUFACTURING ASSISTANCE PROGRAM GRANT
HAWAII TECHNOLOGY DEVELOPMENT CORPORATION
Manufacturing Assistance Program Grant (MAP) offers Hawaii-based manufacturers a reimbursement on qualified expenses.
HUA KANU BUSINESS LOAN PROGRAM
OFFICE OF HAWAIIAN AFFAIRS
The Hua Kanu Business Loan Program is available to Native Hawaiians who own established business.
MALAMA BUSINESS LOAN PROGRAM
OFFICE OF HAWAIIAN AFFAIRS
The Malama Loan is an OHA loan can be used to start or expand a business or provide working capital.
MOTION PICTURE, DIGITAL MEDIA, AND FILM PRODUCTION INCOME TAX CREDIT (FILM TAX CREDIT)
DEPARTMENT OF BUSINESS, ECONOMIC DEVELOPMENT AND TOURISM
The motion picture, digital media, and film production income tax credit is a refundable tax credit based on a production company's Hawaii expenditures while producing a qualified film, television, commercial, or digital media project.
NEW FARMER LOAN
HAWAII DEPARTMENT OF AGRICULTURE
New Farmer Loans are for applicants who intend to farm full-time, meaning that the applicant devotes most of their time to farming or derives most of their income from farming operations.
PART-TIME FARMER LOAN
HAWAII DEPARTMENT OF AGRICULTURE
Loans are provided to part-time farmers who were unable to obtain sufficient funds at reasonable rates from private lenders.
QUALIFIED FARMER LOAN
HAWAII DEPARTMENT OF AGRICULTURE
Loans to sole proprietors, partnerships, corporations, and cooperatives that operate farms for several years.
RENEWABLE ENERGY TECHNOLOGIES INCOME TAX CREDIT (RETITC)
HAWAII DEPARTMENT OF TAXATION
State income tax credits are available for businesses that invest in renewable energy systems.
RESEARCH TAX CREDIT
DEPARTMENT OF BUSINESS, ECONOMIC DEVELOPMENT AND TOURISM
The Tax Credit for Research Activities (R&D Tax Credit) is a refundable income tax credit for a qualified high technology business equal to the credit for research activities.
ROYALTIES TAX EXEMPTION
HAWAII DEPARTMENT OF BUSINESS, ECONOMIC DEVELOPMENT AND TOURISM
Amounts received by an individual or qualified high technology business" as royalties.
Idaho
3% INVESTMENT TAX CREDIT
IDAHO STATE TAX COMMISSION
An investment tax credit on all new depreciable, tangible, personal property (machinery and equipment) used in Idaho.
Eligibility Requirements
To qualify:
- Qualifying property is new or used depreciable property. Idaho adopted the definition of qualifying property found in Internal Revenue Code (IRC) Sections 46(c) and 48 in effect prior to 1986 for this credit.
- The depreciable life must be three years or more.
- Property not used in Idaho and vehicles under 8,000 pounds gross weights do not qualify.
Property used in a trade or business that does qualify includes:
- Tangible personal property-machinery and equipment.
- Other tangible property used as an integral part of manufacturing, production, extraction, furnishing, transportation, communications, utility services, or research facilities and bulk storage facilities used in connection with those businesses.
- Elevators and escalators.
- Single purpose agricultural or horticultural structures, such as a commercial greenhouse or a milking barn.
- Certain qualified timber property.
- Petroleum storage facilities.
Application Information
Contact the Idaho State Tax Commission for more information.
Idaho State Tax Commission
11321 West Chinden Boulevard
Boise, ID 83714
Phone: 800-842-5858
Fax: 208-334-2631
[email protected]
CAPITAL INVESTMENT PROPERTY TAX EXEMPTION
IDAHO STATE TAX COMMISSION
Businesses considering new non-retail facilities may receive a partial or full property tax exemption for up to 5 years from local county commissioners. Required investments for property tax exemption range from $500,000 to $3 million depending on county.
Eligibility Requirements
The statute states that commercial or industrial facilities which are non-retail will qualify
Application Information
Contact the State Tax Commission for more information.
Alan Dornfest
Idaho State Tax Commission
11321 West Chinden Boulevard
Boise, ID 83714
Phone: 208-334-7750
[email protected]
IDAHO COLLEGE SAVINGS PROGRAM EMPLOYER TAX CREDIT
IDAHO STATE TAX COMMISSION
Employers are eligible to receive a 20% tax credit for contributions made to an employee’s IDeal college savings account.
Eligibility Requirements
Contact the State Tax Commission for more information.
Application Information
Contact the State Tax Commission for more information.
Idaho State Tax Commission
1132 West Chinden Boulevard
Boise, ID
Phone: 208-334-7660
[email protected]
5% RESEARCH AND DEVELOPMENT INCOME TAX CREDIT
IDAHO STATE TAX COMMISSION
Businesses conducting basic and qualified research may earn an income tax credit of 5%.
AGRICULTURAL DEVELOPMENT LOAN PROGRAM
IDAHO STATE DEPARTMENT OF AGRICULTURE
The Idaho Agricultural Development Loan Program is administered by the Idaho State Department of Agriculture to offer financing and assistance to individuals and organizations in Idaho whose Agricultural projects or efforts will provide for Rural Economic Development in Idaho and who cannot obtain credit. from conventional sources.
AIRCRAFT SALES TAX EXEMPTION
IDAHO STATE TAX COMMISSION
Certain materials, parts and components installed on certain aircrafts are exempt from the sales and usage tax.
BROADBAND INCOME TAX CREDIT
IDAHO STATE TAX COMMISSION
Businesses that purchase qualified broadband equipment and infrastructure for the benefit of end users in Idaho may earn a 3% income tax credit up to $750,000. This credit is transferable and may be carried forward up to 14 years. Businesses must have PUC Approval.
CLEAN ROOM SALES TAX EXEMPTION
IDAHO STATE TAX COMMISSION
Any tangible personal property that is used exclusively in a clean room or to maintain the environment of a clean room, is exempt from sales tax.
COLLATERAL SUPPORT PROGRAM
IDAHO HOUSING AND FINANCE ASSOCIATION
The Collateral Support Program enhances the collateral of qualified small business borrowers to help them attain financing.
COMPUTER SALES TAX EXEMPTION
IDAHO STATE TAX COMMISSION
Computer software that is delivered electronically, remotely accessed, or delivered by the load and leave method the vendor loads the software at the user location but does not transfer any tangible personal property containing the software to the user, is exempt from Idaho sales and use tax.
DATA CENTER SALES TAX EXEMPTION
IDAHO STATE TAX COMMISSION
New data centers choosing to locate in Idaho will be eligible for sales tax exemption on server equipment as well as construction materials used in the construction of the data center facility.
IDAHO BUSINESS ADVANTAGE
IDAHO STATE TAX COMMISSION
Businesses that invest a minimum of $500,000 in new facilities and create at least 10 new jobs paying $40,000 annually plus benefits may qualify for a variety of incentives.
IDAHO GEM GRANT
IDAHO DEPARTMENT OF COMMERCE
This program provides grants to helps create and retain jobs in small towns with populations less than 10,000.
IDAHO GLOBAL ENTREPRENEURIAL MISSION (IGEM) PROGRAM
IDAHO DEPARTMENT OF COMMERCE
The IGEM grant program funds commercialization studies where university researchers and business experts partner together.
IDAHO PRIME LOAN PROGRAM
IDAHO STATE TREASURER'S OFFICE
The Idaho Prime Loan Program The Idaho Prime" is a loan program designed specifically with small businesses in mind. This innovative program is a cooperative effort between the Idaho State Treasurers.
IDAHO RURAL ECONOMIC DEVELOPMENT AND INTEGRATED FREIGHT TRANSPORTATION (REDIFIT)
IDAHO STATE DEPARTMENT OF AGRICULTURE
REDIFit provides loans and grants to assist businesses and industries as well as qualified short line or intermodal freight shippers to upgrade, expand, rehabilitate, purchase or modernize equipment and facilities for Idaho’s freight shipping infrastructure.
IDAHO TAX REIMBURSEMENT INCENTIVE
IDAHO DEPARTMENT OF COMMERCE
TRI is a performance-based economic development incentive that provides a tax credit up to 30% for up to 15 years on new corporate income tax, sales tax, and payroll taxes paid because of a new qualifying project. To qualify, a new project must meet certain requirements for creating high-paying jobs in Idaho.
INDUSTRIAL REVENUE BONDS (IRBS)
IDAHO DEPARTMENT OF COMMERCE
Industrial revenue bonds (IRBs) are a means of primarily financing the construction, enlargement, or equipping of manufacturing plants, and a limited number of non-manufacturing facilities.
NET OPERATING LOSS DEDUCTIONS
IDAHO STATE TAX COMMISSION
The Net Operating Loss program offers a tax provision for businesses which lose money each year.
NON-RETAIL FACILITIES PROPERTY TAX EXEMPTION
IDAHO STATE TAX COMMISSION
Businesses that invest in new non-retail facilities may receive partial or full property tax exemptions on new plant and building facilities and all personal property related thereto from local county commissioners.
POLLUTION CONTROL EQUIPMENT SALES TAX EXEMPTION
IDAHO STATE TAX COMMISSION
Businesses purchasing required pollution control equipment are exempt from sales tax on those purchases. Required pollution control facilities are exempt from property tax.
PRODUCTION SALES TAX EXEMPTION
IDAHO STATE TAX COMMISSION
There is 100% sales tax exemption for equipment and raw materials.
RURAL COMMUNITY INVESTMENT FUND (RCIF)
IDAHO DEPARTMENT OF COMMERCE
The Rural Community Investment Fund (RCIF) program provides funds to rural areas in support of economic expansion and job creation.
RURAL IDAHO ECONOMIC DEVELOPMENT PROFESSIONAL GRANT PROGRAM
IDAHO DEPARTMENT OF COMMERCE
State funds are appropriated to help rural areas employ full-time Economic Development Professionals who, with a board of directors, manage locally directed economic development programs.
STATE TRADE EXPANSION PROGRAM (STEP GRANT)
IDAHO DEPARTMENT OF COMMERCE
The State of Idaho has State Trade Expansion Program (STEP) Grant funds for projects occurring through September 29, 2023. STEP is funded in part through a grant with the U.S. Small Business Administration (SBA) and is administered by Idaho Commerce.
THE IDAHO SEMICONDUCTORS FOR AMERICA ACT
IDAHO COMMERCE, IDAHO TAX COMMISSION
Provides qualifying Idaho semiconductor companies with a sale and use tax exemption on the purchase of qualifying construction and building materials. To qualify for the incentive, business must also qualify for the Federal CHIPS and Science Act of 2020.
UTILITY AND INDUSTRIAL FUELS SALES TAX EXEMPTION
IDAHO STATE TAX COMMISSION
Businesses are exempt from paying sales tax on utilities and industrial fuels. Examples include power, water, natural gas, and telephone.
WORKFORCE DEVELOPMENT TRAINING FUND
IDAHO WORKFORCE DEVELOPMENT COUNCIL
The Idaho Workforce Development Training Fund Grant Programs support growth of the economy by assisting employers with job creation and integration of technology, specifically through the development of skills in their existing and/or new employees. And provide a return on investment to Idahoans as evidenced by increased wages, job creation, capital investment, retention of Idaho’s workforce, credential attainment and/or customer satisfaction (employer and trainee).
Illinois
ADVANTAGE ILLINOIS PARTICIPATION LOAN PROGRAM
ILLINOIS DEPARTMENT OF COMMERCE & ECONOMIC OPPORTUNITY
The Illinois Finance Authority assists businesses that create or retain jobs by offering its Participation Loan Product (PLP) in conjunction with lenders.
Eligibility Requirements
Businesses with fewer than 750 full-time employees are eligible.
Additional Information
Illinois Department of Commerce & Economy Opportunity
500 East Monroe Street
Springfield, IL 62701
Phone: 217-782-5792
[email protected]
Additional information available from the Illinois Department of Commerce & Economic Opportunity.
ECONOMIC DEVELOPMENT FOR A GROWING ECONOMY TAX CREDIT PROGRAM (EDGE)
ILLINOIS DEPARTMENT OF COMMERCE & ECONOMIC OPPORTUNITY
Illinois' EDGE program provides annual corporate tax credits to qualifying businesses which support job creation, capital investment and improve the standard of living for all Illinois residents.
Eligibility Requirements
For companies with 100 or fewer world-wide employees, the eligibility requirements are as follows:
- Job Creation: The Lesser of 5% of world-wide employment, or 50 new full time jobs
- Investment- $0
For companies with more than 100 world-wide employees, the eligibility requirements are as follows:
- Job Creation: The Lesser of 10% of world-wide employment, or 50 new full time jobs
- Investment: $2,500,000
Additional Information
Illinois Department of Commerce & Economic Opportunity
500 East Monroe Street
Springfield, IL 62701
Phone: 217-782-7500
[email protected]
Additional information available from the Illinois Department of Commerce & Economic Opportunity.
ILLINOIS ENTERPRISE ZONE PROGRAM
ILLINOIS DEPARTMENT OF COMMERCE & ECONOMIC OPPORTUNITY
The Illinois Enterprise Zone Program provides tax exemptions for businesses locating in Enterprise Zones, typically economically distressed areas.
Eligibility Requirements
Businesses must be located in an Enterprise Zone to be eligible.
Additional Information
Illinois Department of Commerce & Economic Opportunity
500 East Monroe Street
Springfield, IL 62701
Phone: 217-524-0165
[email protected]
Additional information available from the Illinois Department of Commerce & Economic Opportunity.
ITEMS EXEMPT FROM STATE TAX
ILLINOIS DEPARTMENT OF COMMERCE & ECONOMIC OPPORTUNITY
Illinois exempts purchases used to produce downstream items from sales and property taxes.
Items exempt include:
- Sales of machinery and equipment that will be used primarily in manufacturing or assembling of tangible personal property for wholesale or retail sale or lease, and production agriculture
- Qualified sales of building materials that will be incorporated into real estate as part of a project for which a Certificate of Eligibility for Sales Tax Exemption has been issued by the enterprise zone administrator
- Qualifying purchases of tangible personal property used in a manufacturing or assembling process by businesses located in an enterprise zone and certified by the Department of Commerce and Economic Opportunity as qualifying to make these purchases because jobs will be created or retained
- Sales of tangible personal property to interstate carriers for hire used as rolling stock (i.e. semi-tractor trailers, railroad cars)
- Property held or used for business or production of income (commonly known as tangible personal property)
Additional Information
Illinois Department of Commerce & Economic Opportunity
500 East Monroe Street
Springfield, IL 62701
Phone: 217-782-7500
Additional information available from the Illinois Department of Commerce & Economic Opportunity.
AG INVEST
ILLINOIS STATE TREASURER
Through a commitment to Ag Invest, the Treasurer's Office partners with approved financial institutions to provide qualified farmers, agri-business and agriculture professionals below-market rate loans to start, expand or add value to their farm operations. The loans provided by the financial institution can be used for the purchase of farm equipment, purchase of land, construction-related expenses, provide operating lines of credit or other costs related to conventional or sustainable farming.
AGRI-DEBT RESTRUCTURING GUARANTEE PROGRAM
ILLINOIS FINANCE AUTHORITY
The Agri-Debt Restructuring Guarantee Program loan is designed to consolidate and spread out a farmer's existing debt over a longer term at a reduced interest rate.
AGRI-INDUSTRY GUARANTEE PROGRAM
ILLINOIS FINANCE AUTHORITY
The State Guarantee Program for Agri-Industries (SGPAI) is a guarantee program designed to assist and encourage diversification of Illinois agriculture and to promote the value-added processing of Illinois agricultural products.
ANGEL INVESTMENT TAX CREDIT PROGRAM
ILLINOIS DEPARTMENT OF COMMERCE & ECONOMIC OPPORTUNITY
The Angel Investment Tax Credit Program provides a tax credit to businesses investing in qualified new business ventures.
BEGINNING FARMER BOND PROGRAM
ILLINOIS FINANCE AUTHORITY
The Beginning Farmer Bond Program provides affordable financing to new, low net worth farmers for financing capital purchases.
BUILDING MATERIALS EXEMPTION
ILLINOIS DEPARTMENT OF REVENUE
Among the tax incentives offered to Enterprise Zone, RERZ, and High Impact businesses, is an exemption from sales tax on building materials used in the construction, rehabilitation, or renovation of real estate.
BUSINESS ATTRACTION PRIME SITES CAPITAL GRANT PROGRAM
ILLINOIS DEPARTMENT OF COMMERCE & ECONOMIC OPPORTUNITY
The Business Attraction Prime Sites Capital Grant Program assists companies with large-scale capital investment projects that commit to significant job creation for Illinois residents as they relocate or expand operations within Illinois. Prime Sites grants can encompass a wide range of economic development projects that will result in job creation in the state of Illinois.
BUSINESS INVEST (COMMUNITY UPLIFT PROGRAM)
ILLINOIS STATE TREASURER
The Community Uplift Program provides financial institutions in development zones with low-rate state investment capital to lend at a lower rate in disadvantaged communities in support of business creation and expansion and job growth.
COMMERCIAL PROPERTY ASSESSED CLEAN ENERGY FINANCING (C-PACE)
ILLINOIS FINANCE AUTHORITY
Under Illinois law, counties and municipalities (each Governmental Uni) may establish Commercial Property Assessed Clean Energy (C-PACE) programs and create related PACE areas in order to offer for-profit and non-profit owners of commercial, industrial, and multi-family (of 5 or more units) properties long-term, fixed-rate financing or refinancing.
COMMUNITY INVEST CANNABIS BANKING SERVICES PROGRAM
ILLINOIS STATE TREASURER
Community Invest - Cannabis Banking Services Program is a community development program that offers qualified banks and credit unions access to state impact investment capital at a lower rate, in the form of time deposits.
CONNECT ILLINOIS BROADBAND GRANTS
ILLINOIS DEPARTMENT OF COMMERCE & ECONOMIC OPPORTUNITY
Rebuild Illinois, the Illinois infrastructure program, includes $400 million to the Department of Commerce and Economic Opportunity for a statewide broadband deployment grant program.
DATA CENTER INVESTMENT TAX EXEMPTIONS AND CREDITS
ILLINOIS DEPARTMENT OF COMMERCE & ECONOMIC OPPORTUNITY
The data centers investment program provides owners and operators with exemptions from a variety of state and local taxes for qualifying Illinois data centers. The program also provides data center owners and operators with a tax credit of 20% of wages paid for construction workers for projects located in underserved areas.
ECONOMIC DEVELOPMENT PROGRAM
ILLINOIS DEPARTMENT OF TRANSPORTATION
The Economic Development Program provides funding for preliminary engineering, construction, construction engineering and contingencies related to roadway improvements that create and retain full time jobs.
HIGH IMPACT BUSINESS PROGRAM (HIB)
ILLINOIS DEPARTMENT OF COMMERCE & ECONOMIC OPPORTUNITY
The High Impact Business Program supports large-scale economic development activities by providing tax incentives (similar to Enterprise Zones) to companies that make substantial capital investments in operations and create or retain an above average number of jobs.
ILLINOIS BROWNFIELDS REDEVELOPMENT LOAN PROGRAM
ILLINOIS ENVIRONMENTAL PROTECTION AGENCY
The Illinois Brownfields Redevelopment Loan Program offers low interest loans to support efforts by local governments and private parties to clean up brownfields sites that have already been assessed for contamination.
ILLINOIS FILM PRODUCTION TAX CREDIT
ILLINOIS DEPARTMENT OF COMMERCE & ECONOMIC OPPORTUNITY
The Illinois Film Production Tax Credit Act offers producers a credit of 30% of all qualified expenditures and 30% of Illinois labor expenditures of up to $100,000 per worker.
ILLINOIS GROWTH AND INNOVATION FUND
ILLINOIS STATE TREASURER
The Illinois Growth and Innovation Fund (ILGIF) is an evergreen, $1 billion impact investment fund that will invest in ways to attract, assist and retain quality technology-enabled businesses in Illinois. This is done by making targeted investments with venture capital (VC), growth equity and private venture debt firms with a nexus to the State of Illinois.
ILLINOIS HISTORIC PRESERVATION TAX CREDIT PROGRAM
ILLINOIS DEPARTMENT OF NATURAL RESOURCES
The Illinois Historic Preservation Tax Credit Program (IL-HTC) provides a state income-tax credit equal to 25% of a project's Qualified Rehabilitation Expenditures (QREs), not to exceed $3 million, to owners of certified historic structures who undertake certified rehabilitations.
ILLINOIS WORKS JOBS PROGRAM ACT
ILLINOIS DEPARTMENT OF COMMERCE & ECONOMIC OPPORTUNITY
Illinois Works was intentionally designed to increase equity and opportunity in capital construction jobs with this new capital funding set to pave the way for tens of thousands of jobs over the next decade.
ILLINOIS' STATE TRADE AND EXPORT PROMOTION (ISTEP) PROGRAM
ILLINOIS DEPARTMENT OF COMMERCE & ECONOMIC OPPORTUNITY
Illinois' State Trade and Export Promotion (ISTEP) program provides Illinois' small businesses with both financial and technical assistance to increase their exports.
INDUSTRIAL DEVELOPMENT REVENUE BOND PROGRAM
ILLINOIS FINANCE AUTHORITY
The Illinois Finance Authority issues tax-exempt Industrial Revenue Bonds (IRB) on behalf of manufacturing companies to finance the acquisition of fixed assets such as land, buildings and equipment. Bond proceeds also may be used for either new construction or renovation and may be used to purchase new equipment.
LIVE THEATRE PRODUCTION TAX CREDIT
ILLINOIS DEPARTMENT OF COMMERCE & ECONOMIC OPPORTUNITY
The Illinois Live Theatre Credit provides a tax credit to qualified theatre productions taking place in Illinois.
MANUFACTURING ILLINOIS CHIPS FOR REAL OPPORTUNITY
ILLINOIS DEPARTMENT OF COMMERCE AND ECONOMIC OPPORTUNITY
Eligible companies manufacture microchips and semiconductors and associated component parts.
MULTI-FAMILY HOUSING REVENUE BOND PROGRAM
ILLINOIS FINANCE AUTHORITY
The Multi-Family Housing Revenue Bond Program provides long-term, low-cost capital to experienced commercial and 501(c)(3) not-for-profit developers for the acquisition, renovation, rehabilitation or construction of multi-family rental housing for low and moderate income households, including the elderly and disabled.
PARTICIPATION LOAN PRODUCT
ILLINOIS FINANCE AUTHORITY
IFA assists Illinois businesses that create or retain jobs by offering its Participation Loan Product (PLP") in conjunction with Lenders.
RAIL FREIGHT LOAN PROGRAM
ILLINOIS DEPARTMENT OF TRANSPORTATION
The Rail Freight Loan Program provides low interest loans to finance rail improvements, with grants being considered in special circumstances.
REIMAGINING ELECTRIC VEHICLES (REV) ILLINOIS PROGRAM
ILLINOIS DEPARTMENT OF COMMERCE & ECONOMIC OPPORTUNITY
REV Illinois offers competitive incentives to expand in or relocate to Illinois for companies that manufacture EVs and EV parts (batteries, cathodes, anodes) as well as EV charging stations. The program defines EVs as vehicles exclusively powered by electricity and permitted to operate on public roadways including cars and motorcycles.
RIVER EDGE REDEVELOPMENT ZONE
ILLINOIS DEPARTMENT OF COMMERCE & ECONOMIC OPPORTUNITY
The River Edge Redevelopment Zone Program (RERZ) helps revive and redevelop environmentally challenged properties adjacent to rivers in Illinois.
SOCIAL EQUITY CANNABIS LOAN PROGRAM
ILLINOIS DEPARTMENT OF COMMERCE & ECONOMIC OPPORTUNITY
Through this loan program, DCEO is able to offer low-interest loans to qualified social equity applicants applying for available licenses.
SOLID WASTE DISPOSAL REVENUE BOND PROGRAM
ILLINOIS FINANCE AUTHORITY
The IFA issues tax-exempt Solid Waste Disposal Revenue Bonds on behalf of privately owned solid waste disposal companies that provide services to the general public. Bond proceeds can be used to finance the acquisition of fixed assets such as land, buildings, and equipment as well as building construction or renovation.
SPECIALIZED LIVESTOCK GUARANTEE PROGRAM
ILLINOIS FINANCE AUTHORITY
The Specialized Livestock Guarantee Program (SLP) is a guarantee program that targets s specialized family sized livestock operations including but not limited to swine, dairy, and beef cattle operations. The primary purpose of loans under this program is for the construction, purchase, and/or remodeling of facilities, and also for purchases of equipment and breeding livestock.
TAX CERTIFICATION PROGRAM FOR LIVESTOCK WASTE MANAGEMENT FACILITIES
ILLINOIS ENVIRONMENTAL PROTECTION AGENCY
The Illinois Environmental Protection agency administers a certification program that reduces the property tax value for many pollution control improvements.
TAX INCREMENT FINANCING
ILLINOIS DEPARTMENT OF COMMERCE & ECONOMIC OPPORTUNITY
The department distributes state sales tax collections to municipalities that have tax increment financing (TIF) districts for either state sales tax, state utility tax, or both that produced an incremental growth in retail sales, or gas and electricity consumption. Funds are prorated to each municipality based on its share of the overall TIF net state increment.
UNDERGROUND STORAGE TANK FUND
ILLINOIS ENVIRONMENTAL PROTECTION AGENCY
The Underground Storage Tank Fund helps tank owners and operators pay for cleaning up leaks from petroleum underground storage tanks.
WASTEWATER/STORMWATER AND DRINKING WATER LOANS
ILLINOIS ENVIRONMENTAL PROTECTION AGENCY
The Wastewater and Drinking Water loan programs provide low-interest loans through the State Revolving Fund (SRF). The SRF includes two loan programs: the Water Pollution Control Loan Program (WPCLP) which funds both wastewater and storm water projects, and the Public Water Supply Loan Program (PWSLP) for drinking water projects.
WORKING CAPITAL GUARANTEE PROGRAM
ILLINOIS FINANCE AUTHORITY
The Working Capital Guarantee Program (WCG) provides up to 85% guarantee of principal and interest on the loan made to farmers, producers or agri-businesses who are investing in fertilizer, chemicals, feed, seed, fuel, parts, and repairs.
YOUNG FARMER GUARANTEE PROGRAM
ILLINOIS FINANCE AUTHORITY
The Young Farmer Guarantee Program (YFG) provides up to 85% guarantee of principal and interest on the loan made to young farmers.
Indiana
ECONOMIC DEVELOPMENT FOR A GROWING ECONOMY (EDGE) PAYROLL TAX CREDIT
INDIANA ECONOMIC DEVELOPMENT CORPORATION
The Economic Development for a Growing Economy (EDGE) Tax Credit provides an incentive to businesses to support jobs creation, capital investment and to improve the standard of living for Indiana residents.
Eligibility Requirements
To be eligible for the tax credit:
- Project will result in net new jobs that were not previously performed by employees of the applicant
- Project is economically sound and will benefit the people of Indiana by increasing opportunities for employment and strengthening the economy of Indiana
- Receiving the tax credit is a major factor in the applicant's decision to go forward with the project and not receiving the tax credit will result in the applicant not creating new jobs in Indiana
- Political subdivisions/municipalities affected by the project have offered significant incentives to the business
Each project will be evaluated on its individual merits and with a cost-benefit analysis after it has met the basic requirements as follows:
- Business commits to new capital investment in Indiana
- Business commits to the creation of full-time, permanent jobs for Indiana residents at the project location
- Project supports the purpose of the tax credit, and meets all requirements as set forth in I.C. 6-3.1-13
Additional Information
Indiana Economic Development Corporation
1 North Capitol Avenue
Indianapolis, IN 46204
Phone: 317-232-8800
[email protected]
Additional information available from the Indiana Economic Development Corporation.
HEADQUARTERS RELOCATION TAX CREDIT
INDIANA ECONOMIC DEVELOPMENT CORPORATION
The Headquarters Relocation Tax Credit (HQRTC) provides a refundable tax credit to corporations that relocate their headquarters to Indiana.
Eligibility Requirements
Businesses eligible to receive an HQRTC award must:
- Be engaged in interstate commerce
- Maintain a corporate headquarters at a location outside Indiana
- Have not previously maintained a corporate headquarters in Indiana
- Have annual worldwide revenues of at least $50 million during the taxable year immediately preceding the business' application for a tax credit
- Relocate its corporate headquarters to Indiana
- Employees at least 75 employees in Indiana after relocating a headquarters to Indiana.
A headquarters is considered:
- The principal offices of the principal executive officers of the eligible business
- The principal offices of a division or smaller subdivision of an eligible business
- A research and development center of an eligible business
Eligible relocation costs include:
- Moving costs and related expenses
- The purchase of new or replacement equipment
- Capital investment costs
- Property assembly and development costs including: the purchase, lease, or construction of buildings and land, infrastructure improvements, and site development costs
Additional Information
Indiana Economic Development Corporation
1 North Capitol Avenue
Indianapolis, IN 46204
Phone: 317-232-8800
[email protected]
Additional information available from the Indiana Economic Development Corporation.
HOOSIER BUSINESS INVESTMENT (HBI) TAX CREDIT
INDIANA ECONOMIC DEVELOPMENT CORPORATION
The Hoosier Business Investment Tax Credit provides incentive to businesses to support job creation, capital investment and to improve the standard of living for Indiana residents.
Eligibility Requirements
To be eligible for the tax credit:
- Project will result in net new jobs that were not previously performed by employees of the applicant
- Project is economically sound and will benefit the people of Indiana by increasing opportunities for employment and strengthening the economy of Indiana
- Receiving the tax credit is a major factor in the applicant’s decision to go forward with the project and not receiving the tax credit will result in the applicant not creating new jobs in Indiana
- Political subdivisions/municipalities affected by the project have offered significant incentives to the business
Eligible capital investment includes new machinery, modern manufacturing and building costs associated with the project as outlined by Indiana Code 6-3.1-26-8.
Additional Information
Indiana Economic Development Corporation
1 North Capitol Avenue
Indianapolis, IN 46204
Phone: 317-232-8800
Fax: 317-232-4146
[email protected]
Additional information available from the Indiana Economic Development Corporation.
JOBS PROGRAM
INDIANA DEPARTMENT OF WORKFORCE DEVELOPMENT
The JOBS Program uses WorkKeys, a nationally renowned system of job profiling and assessments to identify the tasks and skills that are most critical to perform a job, to help employers find qualified employees.
Eligibility Requirements
Eligibility:
- Easy, one-page application for employers
- Must have a hiring need
- Positions should pay at least $16 an hour
Application Information
A full list of required materials and documents are found on the program website.
Additional information available from the Indiana Department of Workforce Development.
REGULATORY ASSISTANCE PROGRAM
INDIANA ECONOMIC DEVELOPMENT CORPORATION
The Indiana Economic Development Corporation's regulatory affairs division assists in the process of obtaining the permits and approvals necessary for a business operation.
Additional Information
Contact the agency for details:
Indiana Economic Development Corporation
1 North Capitol Avenue
Indianapolis, IN 46204
Phone: 317-417-5258
Additional information available from the Indiana Economic Development Corporation.
SMALL HEADQUARTERS RELOCATION TAX CREDIT
INDIANA ECONOMIC DEVELOPMENT CORPORATION
The Small Headquarters Relocation Tax Credit (S-HQRTC) provides a refundable tax credit to a small, high-growth business that relocates its headquarters or the number of employees that equals 80% of the company’s total payroll to Indiana.
Eligibility Requirements
Businesses eligible to receive a S-HQRTC award must:
- Be engaged in interstate commerce
- Maintain a corporate headquarters at a location outside Indiana
- Have not previously maintained a corporate headquarters in Indiana
- Have closed on or will close on at least $4 million in venture capital within six months of the business’ application for a tax credit
- Relocate its corporate headquarters to Indiana or employees that equal 80% of company payroll.
- Employ at least 10 employees in Indiana after relocating a corporate headquarters to Indiana
A headquarters is considered:
- The principal offices of the principal executive officers of the eligible business
- The principal offices of a division or smaller subdivision of an eligible business
- A research and development center of an eligible business
Eligible relocation costs include:
- Moving costs and related expenses
- The purchase of new or replacement equipment
- Capital investment costs
- Property assembly and development costs including: the purchase, lease, or construction of buildings and land, infrastructure improvements, and site development costs
Additional Information
Indiana Economic Development Corporation
1 North Capitol Avenue
Indianapolis, IN 46204
Phone: 317-232-8800
[email protected]
Additional information available from the Indiana Economic Development Corporation.
CAPITAL ACCESS PROGRAM - STATE SMALL BUSINESS CREDIT INITIATIVE (CAP-SSBCI)
INDIANA ECONOMIC DEVELOPMENT CORPORATION
The Indiana Capital Access Program - State Small Business Credit Initiative (CAP-SSBCI) is a small business credit enhancement program that creates a specific cash reserve fund for a lender to use as additional collateral for loans enrolled in the program by the particular lender.
CERTIFIED TECHNOLOGY PARKS (CTP)
INDIANA ECONOMIC DEVELOPMENT CORPORATION
The Certified Technology Park program was created as a tool to support the attraction and growth of high-technology business in Indiana and promote technology transfer opportunities.
COAL GASIFICATION TECHNOLOGY INVESTMENT TAX CREDIT
INDIANA ECONOMIC DEVELOPMENT CORPORATION
A credit may be available for a qualified investment in an integrated coal gasification power plant or a fluidized bed combustion technology.
COMMUNITY REVITALIZATION ENHANCEMENT DISTRICT (CRED) TAX CREDIT
INDIANA ECONOMIC DEVELOPMENT CORPORATION
The Community Revitalization Enhancement District (CRED) Tax Credit provides an incentive for investment in community revitalization enhancement districts.
DATA CENTER SALES TAX EXEMPTION
INDIANA ECONOMIC DEVELOPMENT CORPORATION
The Data Center Gross Retail and Use Tax Exemption provides a sales and use tax exemption on purchases of qualifying data center equipment and energy to operators of a qualified data center.
ELEVATE VENTURES GROWTH FUND
ELEVATE VENTURES
This fund is focused on cross sector innovation driven growth stage companies with a $500M total addressable market (TAM) or greater.
FILM AND MEDIA TAX CREDIT
INDIANA ECONOMIC DEVELOPMENT CORPORATION
Indiana’s Film and Media Tax Credit offers an income tax credit up to 30%, that can be applied to offset certain production expenses.
INDIANA BROWNFIELDS PROGRAM - PETROLEUM ORPHAN SITES INITIATIVE
INDIANA FINANCE AUTHORITY
The Petroleum Orphan Sites Initiative (POSI) assists political subdivisions by investigating and undertaking corrective action at brownfield sites contaminated with petroleum from a release from an underground storage tank (UST) for which there is no viable responsible party to conduct tank removal and cleanup.
INDIANA BROWNFIELDS PROGRAM - PHASE I ENVIRONMENTAL SITE ASSESSMENT INITIATIVE
INDIANA FINANCE AUTHORITY
The Indiana Brownfields Program (Program) has established a Phase I Environmental Site Assessment Initiative (Phase I ESA Initiative) to help Indiana communities investigate the environmental status of their brownfield sites.
INDIANA BROWNFIELDS PROGRAM LOW-INTEREST LOAN INCENTIVE
INDIANA FINANCE AUTHORITY
The Indiana Brownfields Program (Program) offers Low-Interest Loan (LIL) funding on a rolling basis through an application process.
INDIANA SITE CERTIFIED PROGRAM
INDIANA OFFICE OF COMMUNITY & RURAL AFFAIRS
The Indiana Site Certified program certifies sites that are ready for economic development. Communities of any size may apply for the designation through the Indiana Office of Community and Rural Affairs.
INDIVIDUAL DEVELOPMENT ACCOUNT CREDIT
INDIANA DEPARTMENT OF REVENUE
A credit is available for qualified contributions made to a community development corporation participating in an Individual Development Account (IDA) program.
INDUSTRIAL DEVELOPMENT GRANT FUNDS
INDIANA ECONOMIC DEVELOPMENT CORPORATION
The Industrial Grant Fund (IDGF) provides assistance to municipalities and other eligible entities with off-site infrastructure improvements needed to serve the proposed project site.
LARGE BOND PROGRAM
INDIANA FINANCE AUTHORITY
Private Activity Bonds greater than $3 million, often called Industrial Revenue Bonds (IRBs) or Industrial Development Bonds (IDBs), are bonds issued by state or local governmental entities for the benefit of a private company through the Large Bond Program.
MOTORSPORTS SALES TAX EXEMPTION
INDIANA DEPARTMENT OF REVENUE
Every racecar component/part sold in Indiana is exempt from state sales tax except for tires and accessories.
NEXT LEVEL CONNECTIONS BROADBAND PROGRAM
INDIANA BROADBAND
Indiana will invest $270 million toward improving broadband access and adoption in Indiana.
PATENT INCOME EXEMPTION
INDIANA ECONOMIC DEVELOPMENT CORPORATION
Certain income derived from qualified patents and earned by a taxpayer are exempt from taxation.
REDEVELOPMENT TAX CREDIT
INDIANA ECONOMIC DEVELOPMENT CORPORATION
The Redevelopment Tax Credit provides an incentive for investment in the redevelopment of vacant and underutilized land and buildings as well as brownfields. This credit, established by Indiana Code § 6-3.1-34, provides companies and developers an assignable income tax credit for investing in the redevelopment of communities, improving quality of place and building capacity at the local level.
RESEARCH AND DEVELOPMENT SALES TAX EXEMPTION
INDIANA ECONOMIC DEVELOPMENT CORPORATION
Taxpayers may be refunded sales tax paid on purchases of qualified research and development equipment.
RESEARCH AND DEVELOPMENT TAX CREDIT
INDIANA ECONOMIC DEVELOPMENT CORPORATION
Taxpayers may receive a credit against their Indiana state income tax liability calculated as a percentage of qualified research expenses.
SKILLS ENHANCEMENT FUND (SEF)
INDIANA ECONOMIC DEVELOPMENT CORPORATION
The Skills Enhancement Fund (SEF) provides assistance to companies to support training of employees required to support business growth in Indiana.
SMALL BOND PROGRAM
INDIANA FINANCE AUTHORITY
Manufacturing companies and certain not-for-profit organizations with financing needs of $3 million or less may qualify for the IFA's Small Bond Program.
URBAN ENTERPRISE ZONE PROGRAM
INDIANA DEPARTMENT OF REVENUE
The Indiana Enterprise Zone Program provides community and business redevelopment initiatives. There are 15 counties with enterprise zones in Indiana.
VENTURE CAPITAL INVESTMENT TAX CREDIT
INDIANA ECONOMIC DEVELOPMENT CORPORATION
The Venture Capital Investment (VCI) Tax Credit Program improves access to capital for fast growing Indiana companies by providing individual and corporate investors an additional incentive to invest in early-stage firms. Investors who provide qualified debt or equity capital to Indiana companies receive a credit against their Indiana tax liability.
VOLUME CAP PROGRAM
INDIANA FINANCE AUTHORITY
Volume Cap “is the amount of tax-exempt financing available for certain types of private companies or developers in a calendar year.”
Iowa
HIGH QUALITY JOB PROGRAM
IOWA ECONOMIC DEVELOPMENT AUTHORITY
The High Quality Jobs (HQJ) program provides qualifying businesses assistance to off-set some of the costs incurred to locate, expand or modernize an Iowa facility. This flexible program includes loans, forgivable loans, tax credits, exemptions and/or refunds
Eligibility Requirements
Eligibility:
- Must apply prior to the beginning of the project
- Priority to projects with significant local economic impact
- Must meet wage threshold requirements: created jobs must pay at least 100% of the qualifying wage threshold at the start and 120% of the qualifying wage threshold by project completion and through the maintenance period unless in a distressed area; retained jobs must pay at least 120% of the qualifying wage threshold by project completion and through the maintenance period
- Must provide a sufficient benefits package to all full-time employees, which includes at least one of the following: business pays 70% of medical premiums for single coverage plans with qualifying deductible, OR business pays 60% of medical premiums for family coverage plans with qualifying deductible, OR business pays for some level of medical and dental coverage and provides the monetary equivalent value through other employee benefits
Application Information:
Complete the Iowa Project Questionnaire (IPQ) pre-application so IEDA staff are able to provide individual assistance and guidance to ensure access to programs that best fit your needs. Upon completion of the IPQ, applicants invited to apply for financial assistance may complete the Application for Financial Assistance.
Additional information available from the Iowa Economic Development Authority.
IOWA SELF-EMPLOYMENT
IOWA VOCATIONAL REHABILITATION SERVICES
Iowa Self-Employment (ISE) is a program designed for clients of Iowa Vocational Rehabilitation Services (IVRS) or Iowa Department for the Blind (IDB) whose vocational goal is self-employment.
Eligibility Requirements
ISE supports most businesses. However, there are a few that cannot be supported no matter the circumstances. These include:
- Non-profits,
- Multi-level marketing,
- Illegal businesses, and
- Businesses inconsistent with community standards
Application Information
Find an IVRS office nearest to you, or call us at (515) 281-4211 to be referred to an IVRS counselor in your area. People who are blind or severely visually impaired should contact the Iowa Department for the Blind at (800) 362-2587.
Linda Vongxay, ISE Rehab Assistant
(515) 242-5879
[email protected]
Yvette Clausen, MBA, Business Development Specialist
(515) 401-2974
[email protected]
Kochell Weber-Ricklefs, MPA, PHR, Business Development Specialist
(319) 290-4268
Additional information available from the Iowa Vocational Rehabilitation Services.
SMALL BUSINESS LINKED INVESTMENTS FOR TOMORROW
IOWA STATE TREASURER
LIFT is a small business program that provides capital to small businesses owned and operated in Iowa.
Eligibility Requirements
Qualifications:
- The combined net worth of the borrowers and owners of the business cannot exceed $975,000.
- Existing small businesses must have annual gross sales of $2 million or less at the time of application.
- The maximum amount of assistance that a borrower or business may receive is $200,000.
- The loan may be used for the purchase of land, improvements, fixtures, machinery, inventory, supplies, equipment, information technology, licenses, patents, trademarks, or copyright fees and expenses.
- Loan proceeds shall not be used to finance existing debt.
- The business must be for-profit.
- The borrower must not have received financial assistance from the LIFT program prior to July 1, 2006.
- Home businesses must qualify for a tax deduction for that portion of the home used for business pursuant to regulations of the Internal Revenue Service.
- Loan proceeds cannot be used for real estate investments, rental, leasing, or speculation.
- Liquor, beer, and wine sales must not exceed twenty percent of annual sales for establishments holding a class "C" liquor license.
- Borrowers cannot be delinquent in making child support payments or any other payments due the state.
Application Information
Please contact the agency for details.
Additional information available from the Iowa State Treasurer.
TARGETED SMALL BUSINESS ASSISTANCE PROGRAM
IOWA ECONOMIC DEVELOPMENT AUTHORITY
The Targeted Small Business (TSB) Program is designed to help women, minorities, individuals with disabilities or service-disabled veterans overcome some of the hurdles in starting and growing a small business in Iowa.
Eligibility Requirements
To be eligible for TSB certification or a loan, businesses must be:
- Located in the state of Iowa
- Operating for a profit
- Make less than $4 million in gross income, computed as an average of the preceding three fiscal years
- Majority owned (51% or more), operated and managed by a female, individual with minority status, service disabled veteran or individual with a disability
Application Information
The application is available online.
Additional information available from the Iowa Economic Development Authority.
ACCELERATED CAREER EDUCATION (ACE - 260G)
IOWA ECONOMIC DEVELOPMENT AUTHORITY
The Accelerated Career Education (ACE) program is designed to provide businesses with an enhanced skilled workforce. This innovative program assists Iowa's community colleges to either establish or expand programs that train individuals in the occupations most needed by Iowa businesses.
ANGEL INVESTOR TAX CREDIT
IOWA DEPARTMENT OF REVENUE
A tax credit is allowed for 25 percent of the equity investment made into a qualifying business or community-based seed capital fund approved by EDA.
ANGEL INVESTOR TAX CREDIT
IOWA ECONOMIC DEVELOPMENT AUTHORITY
The Angel Investor tax credits were created to increase the availability and accessibility of venture capital, particularly for ventures at the seed capital investment stage. Businesses must first obtain Qualifying Business certification before investors can apply.
ASSISTIVE DEVICE TAX CREDIT
IOWA DEPARTMENT OF REVENUE
A taxpayer who is a small business that purchases, rents, or modifies an assistive device or makes workplace modifications for an individual with a disability who is employed or will be employed by the small business is eligible for this credit.
BEGINNING FARMER LOAN PROGRAM
IOWA FINANCE AUTHORITY
The Beginning Farmer Loan Program (BFLP) assists new farmers in acquiring agricultural property by offering loans at reduced interest rates. The program may be used to assist in the purchase of agricultural land, depreciable machinery or equipment, breeding livestock or buildings. It may also be used to improve existing buildings or farmland but it cannot be used to refinance existing debt.
BUTCHERY INNOVATION AND REVITALIZATION FUND
IOWA ECONOMIC DEVELOPMENT AUTHORITY
The fund provides financial assistance in the form of grants to businesses for projects relating to small-scale meat processing, licensed custom lockers and mobile slaughter units.
COMPUTERS AND INDUSTRIAL MACHINERY AND EQUIPMENT SPECIAL VALUATION
IOWA DEPARTMENT OF REVENUE
The Iowa Computers and Industrial Machinery and Equipment Special Valuation exempts all eligible capital from taxation.
DEMONSTRATION FUND
IOWA ECONOMIC DEVELOPMENT AUTHORITY
The Demonstration Fund is designed to provide assistance to companies with market-ready innovative technologies or products that have a clear potential for commercial viability.
DIESEL EMISSION REDUCTION ACT
IOWA DEPARTMENT OF TRANSPORTATION
The Diesel Emissions Reduction Act (DERA) appropriates funds for projects to reduce diesel emissions from diesel fleets. Thirty percent of the annual DERA appropriation is made available by the Environmental Protection Agency to support grant, loan or rebate programs administered by states and territories to achieve significant reductions in diesel emissions through the use of certified engine configurations or verified emission control technologies.
EMPLOYEE STOCK OWNERSHIP PLAN
IOWA ECONOMIC DEVELOPMENT AUTHORITY
Iowa incentivizes the creation of ESOPs to retain businesses. A Companies with an ESOP can sell the business to its employees when the owners retire or start a new business.
ENDOW IOWA TAX CREDIT PROGRAM
IOWA ECONOMIC DEVELOPMENT AUTHORITY
Community foundations enhance the lives of people across Iowa and improve the economies of the communities they serve. This program helps those foundations attract donations.
FUEL TAX CREDIT
IOWA DEPARTMENT OF REVENUE
An income tax credit is allowed for the amount of Iowa fuel tax paid relating to purchases for off-road use made by individuals and corporations. The State also offers taxpayers the option of claiming refunds for fuel tax on exempt purchases.
GASOLINE PROMOTION TAX CREDIT
IOWA DEPARTMENT OF REVENUE
An income tax credit is available to retail dealers of gasoline who sell blended gasoline that is classified as E15 or higher, but not classified as E85 gasoline, through fuel pumps during the tax year, including tank wagon sales.
HISTORIC PRESERVATION TAX CREDIT PROGRAM
IOWA ECONOMIC DEVELOPMENT AUTHORITY
The State Historic Preservation Tax Credit Program provides a state income tax credit for the sensitive, substantial rehabilitation of historic buildings.
ICIC TAX CREDIT PURCHASE CONSORTIUM
IOWA CAPITAL INVESTMENT CORPORATION
The ICIC Tax Credit Purchase Consortium provides tax credit sourced funding to companies looking to invest in Iowa.
INNOVATION FUND TAX CREDIT
IOWA ECONOMIC DEVELOPMENT AUTHORITY
The Innovation Fund Tax Credit was created to stimulate venture capital investment in innovative Iowa businesses. Individual investors receive tax credits equal to 25 percent of an equity investment in a certified Innovation Fund. In turn, those certified Innovation Funds make investments in promising early-stage companies that have a principal place of business in Iowa.
IOWA AG LAND CREDIT
IOWA DEPARTMENT OF REVENUE
The Iowa Ag Land Credit provides tax credits to agricultural and horticultural landowners.
IOWA APPRENTICESHIP PROGRAM
IOWA ECONOMIC DEVELOPMENT AUTHORITY
The Iowa Apprenticeship Program is available to increase the number of registered apprentices in Iowa by providing training grants to registered programs.
IOWA BARN AND ONE-ROOM SCHOOL HOUSE PROPERTY EXEMPTION
IOWA DEPARTMENT OF REVENUE
The Iowa Barn and One-Room School House Property Exemption exempts from taxation the increase in assessed value from improvements made to barns constructed prior to 1937 and one-room school houses.
IOWA DATA CENTER BUSINESS PROPERTY EXEMPTION
IOWA DEPARTMENT OF REVENUE
The Iowa Data Center Business Property Exemption provides an exemption for capital utilized in data centers from sales and use taxes.
IOWA FAMILY FARM TAX CREDIT
IOWA DEPARTMENT OF REVENUE
The Iowa Family Farm Land Credit provides family farms relief from school taxes.
IOWA FOREST AND FRUIT TREE RESERVATIONS EXEMPTION
IOWA DEPARTMENT OF REVENUE
The Iowa Forest and Fruit Tree Reservations Exemption provides an exemption for property established as a forest or fruit tree reservation.
IOWA GEOTHERMAL HEATING AND COOLING SYSTEM EXEMPTION
IOWA DEPARTMENT OF REVENUE
The Iowa Geothermal Heating and Cooling System Exemption provides a tax exemption for geothermal heating or cooling improvements.
IOWA GRAIN TAX RETURN
IOWA DEPARTMENT OF REVENUE
The Iowa Grain Tax Return exempts eligible grain from excise taxes.
IOWA IMPOUNDMENT STRUCTURES EXEMPTION
IOWA DEPARTMENT OF REVENUE
The Iowa Impoundment Structures Exemption exempts impoundment structures from property taxes.
IOWA INDUSTRIAL NEW JOBS TRAINING PROGRAM (260E)
IOWA ECONOMIC DEVELOPMENT AUTHORITY
The Iowa Industrial New Jobs Training (260E) program assists businesses creating new positions with new employee training.
IOWA INDUSTRIAL PROPERTY, RESEARCH-SERVICE FACILITIES, WAREHOUSES, DISTRIBUTION CENTERS AND CATTLE FACILITIES EXEMPTION
IOWA DEPARTMENT OF REVENUE
Value-added exemption to encourage industrial and commercial development.
IOWA INNOVATION ACCELERATION FUND
IOWA ECONOMIC DEVELOPMENT AUTHORITY
The Iowa Innovation Acceleration Fund promotes formation and growth of businesses that engage in the transfer of technology to competitive, profitable companies that create high-paying jobs.
IOWA JOBS TRAINING PROGRAM (260F)
IOWA ECONOMIC DEVELOPMENT AUTHORITY
The Iowa Jobs Training Program provides job training services to current employees of eligible businesses that are located in Iowa.
IOWA POLLUTION CONTROL AND RECYCLING EXEMPTION
IOWA DEPARTMENT OF REVENUE
The Iowa Pollution Control and Recycling Exemption provides an exemption for certain pollution control and recycling property.
IOWA SOLAR ENERGY SYSTEM TAX CREDIT
IOWA DEPARTMENT OF REVENUE
A Solar Energy System Tax Credit is available for certain types of solar energy systems installed at a residence or business located in Iowa during tax years beginning on or after January 1, 2012.
IOWA SPECULATIVE SHELL BUILDINGS EXEMPTION
IOWA DEPARTMENT OF REVENUE
The Iowa Speculative Shell Buildings Exemption provides a tax exemption for improvements to business property.
IOWA STUDENT INTERNSHIP PROGRAM
IOWA ECONOMIC DEVELOPMENT AUTHORITY
The Iowa Student Internship Program provides grants to small and medium-sized companies in targeted industries to support internship programs.
IOWA URBAN REVITALIZATION EXEMPTION
IOWA DEPARTMENT OF REVENUE
The Iowa Urban Revitalization Exemption provides a tax exemption for property improvements.
IOWA VALUE-ADDED AGRICULTURAL PRODUCTS EXEMPTION
IOWA DEPARTMENT OF REVENUE
The Iowa Value-Added Agricultural Products Exemption provides incentives to agricultural producers.
IOWA WEB SEARCH PORTAL BUSINESS PROPERTY TAX EXEMPTION
IOWA DEPARTMENT OF REVENUE
The Iowa Web Search Portal Exemption provides a tax exemption for certain property that is purchased by a Web search portal business.
LOAN PARTICIPATION PROGRAM
IOWA FINANCE AUTHORITY
The Loan Participation Program assists farmers in making down payments for the purchase of agricultural land, depreciable machinery or equipment, breeding livestock or buildings.
MEET IN IOWA
IOWA ECONOMIC DEVELOPMENT AUTHORITY
Meet in Iowa is an incentive reimbursement program that awards one-time cash reimbursements toward eligible hard costs for 2023 eligible meetings and events including business meetings, conventions, exhibitions, trade shows, sporting events, music festivals and more.
NEW JOBS TAX CREDIT
IOWA WORKFORCE DEVELOPMENT
This one-time, corporate income tax credit is available to participants in the New Jobs Training (260E) Program. Iowa offers this credit as an incentive for businesses that provide additional training to employees and expand their workforce.
NEW MARKETS TAX CREDIT PROGRAM
IOWA CAPITAL INVESTMENT CORPORATION
The New Markets Tax Credit Program provides tax credits to businesses investing in underserved areas.
PROOF OF COMMERCIAL RELEVANCE
IOWA ECONOMIC DEVELOPMENT AUTHORITY
The Proof of Commercial Relevance (POCR) program is designed to define and articulate the opportunity for businesses that demonstrate a proof-of-concept for innovative technology.
RAILROAD REVOLVING LOAN AND GRANT PROGRAM
IOWA DEPARTMENT OF TRANSPORTATION
The Railroad Revolving Loan and Grant program (RRLGP) provides assistance to improve rail facilities and provide assistance to railroads for the preservation and improvement of the rail transportation system.
REDEVELOPMENT TAX CREDIT PROGRAM FOR BROWNFIELDS OR GRAYFIELDS
IOWA ECONOMIC DEVELOPMENT AUTHORITY
Developers in Iowa can receive tax credits for redeveloping properties know as brownfield and grayfield sites. Additional tax credits are available for projects that meet or exceed sustainable design standards as defined by state law.
RENEWABLE CHEMICAL PRODUCTION TAX CREDIT
IOWA ECONOMIC DEVELOPMENT AUTHORITY
The Renewable Chemical Production Tax Credit program incentivizes the production of 30 high-value chemicals derived from biomass feedstocks.
RENEWABLE ENERGY TAX CREDITS
IOWA DEPARTMENT OF REVENUE
A state production tax credit of 1 cent per kilowatt-hour (kWh) available for energy either sold or generated for on-site consumption by eligible wind energy facilities, and a state production tax credit of 1.5 cents per kWh available for energy sold by eligible wind energy facilities and certain other non-wind renewable energy facilities.
RESEARCH ACTIVITIES CREDIT
IOWA ECONOMIC DEVELOPMENT AUTHORITY
Iowa companies can earn tax credits for qualified research and development investments. Supplemental research credits are also available through the High Quality Jobs (HQJ) program.
REVITALIZE IOWA'S SOUND ECONOMY (RISE)
IOWA DEPARTMENT OF TRANSPORTATION
The RISE program is targeted toward value-adding activities that feed new dollars into the economy and provide maximum economic impact to the state.
SMALL BUSINESS INNOVATION RESEARCH AND SMALL BUSINESS TECHNOLOGY TRANSFER OUTREACH PROGRAMS
BIOCONNECT IOWA
BioConnect Iowa helps Iowa entrepreneurs prepare winning applications for the federal Small Business Administration™s Small Business Innovation Research and Technology Transfer (SBIR/STTR) programs, which award funds to qualifying businesses to stimulate high-tech development.
SOLID WASTE ALTERNATIVES PROGRAM
IOWA DEPARTMENT OF NATURAL RESOURCES
The Solid Waste Alternatives Program (SWAP)Â provides financial support for the development and implementation of Best Practices, Education and Market Development projects that focus on waste reduction and landfill diversion.
STEM INTERNSHIP PROGRAM
IOWA ECONOMIC DEVELOPMENT AUTHORITY
The Science Technology Engineering and Mathematics (STEM) Internship program provides grants to Iowa companies for internship programs with a goal of transitioning interns to full-time employment in Iowa upon graduation.
TARGETED JOBS WITHHOLDING TAX CREDIT
IOWA ECONOMIC DEVELOPMENT AUTHORITY
The Targeted Jobs Withholding Tax Credit is a pilot program that allows diversion of withholding funds paid by an employer to be matched by a designated pilot city to create economic incentives directed toward the growth and expansion of targeted businesses locally.
TEMPORARY HISTORIC PROPERTY TAX EXEMPTION
IOWA DEPARTMENT OF CULTURAL AFFAIRS
The Temporary Historic Property Tax Exemption provides a local property tax incentive for the sensitive, substantial rehabilitation of historic buildings.
WIND ENERGY PRODUCTION TAX CREDIT
IOWA DEPARTMENT OF REVENUE
A Wind Energy Production Tax Credit can be claimed on a facility that produces electricity from wind located in Iowa.
WORKFORCE HOUSING TAX INCENTIVE PROGRAM
IOWA DEPARTMENT OF REVENUE
This program provides tax benefits to developers to provide housing in Iowa communities, focusing especially on those projects using abandoned, empty or dilapidated properties.
Kansas
BUSINESS AND JOB DEVELOPMENT CREDIT
KANSAS DEPARTMENT OF REVENUE
There is an income tax credit for those businesses which make an investment and create jobs as a result of a capital investment project involving the building of new facilities or the expansion or renovation of existing facilities.
Eligibility Requirements
Job Expansion and Investment Credit Act of 1976:
The business and job development credit is allowed as a direct tax credit against the income tax of any Kansas taxpayer if:
- an investment in a qualified business facility is made, and;
- at least two qualified business facility employees are hired as a direct result of that investment.
There is no minimum amount of investment necessary to qualify for the credit, however, some investment must have been made. The taxpayer must qualify for the credit during the first taxable year that operations occur at the qualified business facility investment.
Kansas Enterprise Zone Act:
An enhanced business and job development credit is allowed as a direct tax credit against the income tax of any Kansas taxpayer when:
- an investment in a qualified business facility is made, and;
- the business meets the definition of:
- manufacturing;
- nonmanufacturing; or
- retail, and
- a specified minimum number of qualified business facility employees are hired as a direct result of that investment.
There is no minimum amount of investment necessary to qualify for the credit, however, some investment must have been made. The taxpayer must qualify for the credit during the first taxable year that operations occur at the qualified business facility investment.
Application Information
You may download Schedule K-34 and the Instructions for Investments that Began Operations in Tax Years Commencing on or after Jan. 1, 1993 to claim the business and job development credit under the Kansas Enterprise Zone Act or Job Expansion and Investment Credit Act of 1976. There is also a Property Payroll Worksheet for S-Corps and Shareholders you may wish to download. Schedule K-34 must be completed and submitted with the individual or corporate income tax return. You may also call the Department of Revenue voice mail system at (785) 296-4937 to request Schedule K-34 and the appropriate instructions. You will be asked to give your name, address, phone number and form(s) you desire. Please allow two weeks for delivery of your forms.
Additional information available from the Kansas Department of Revenue.
BUSINESS MACHINERY AND EQUIPMENT CREDIT
KANSAS DEPARTMENT OF REVENUE
The Business Machinery and Equipment Credit provides a tax credit to owners of commercial and industrial machinery and equipment.
Eligibility Requirements
Job Expansion and Investment Credit Act of 1976:
The business and job development credit is allowed as a direct tax credit against the income tax of any Kansas taxpayer if:
- an investment in a qualified business facility is made, and;
- at least two qualified business facility employees are hired as a direct result of that investment.
There is no minimum amount of investment necessary to qualify for the credit, however, some investment must have been made. The taxpayer must qualify for the credit during the first taxable year that operations occur at the qualified business facility investment.
Kansas Enterprise Zone Act:
An enhanced business and job development credit is allowed as a direct tax credit against the income tax of any Kansas taxpayer when:
- an investment in a qualified business facility is made, and;
- the business meets the definition of:
- manufacturing;
- nonmanufacturing; or
- retail, and
- a specified minimum number of qualified business facility employees are hired as a direct result of that investment.
There is no minimum amount of investment necessary to qualify for the credit, however, some investment must have been made. The taxpayer must qualify for the credit during the first taxable year that operations occur at the qualified business facility investment.
Application Information
You may download Schedule K-34 and the Instructions for Investments that Began Operations in Tax Years Commencing on or after Jan. 1, 1993 to claim the business and job development credit under the Kansas Enterprise Zone Act or Job Expansion and Investment Credit Act of 1976. There is also a Property Payroll Worksheet for S-Corps and Shareholders you may wish to download. Schedule K-34 must be completed and submitted with the individual or corporate income tax return. You may also call the Department of Revenue voice mail system at (785) 296-4937 to request Schedule K-34 and the appropriate instructions. You will be asked to give your name, address, phone number and form(s) you desire. Please allow two weeks for delivery of your forms.
Additional information available from the Kansas Department of Revenue.
COMMERCIAL AND INDUSTRIAL MACHINERY AND EQUIPMENT PROPERTY TAX EXEMPTION
KANSAS DEPARTMENT OF REVENUE
Kansas exempts from property taxation all newly purchased or leased commercial and industrial machinery and equipment, including machinery and equipment transferred into this state for the purpose of expanding an existing business or for the creation of a new business.
Eligibility Requirements
A property tax exemption exists for all commercial and industrial machinery and equipment that is acquired or leased, or transported into the state of Kansas after June 30, 2006. Commercial and industrial machinery and equipment shall mean property classified for property tax purposes within subclass (5) of class 2 of section 1 of article 11 of the constitution of the state of Kansas.
Application Information
An exemption from property tax is presumed. However, if the county appraiser is in doubt as to whether certain property qualifies for exemption, the county appraiser presumes in favor of taxation. The taxpayer may then file an application for exemption with the county appraiser pursuant to KSA 79-213, in order to have BOTA review the matter.
Additional information available from the Kansas Department of Revenue.
HIGH PERFORMANCE INCENTIVE PROGRAM (HPIP)
KANSAS DEPARTMENT OF COMMERCE
The High-Performance Incentive Program provides tax incentives to employers that pay above-average wages and have a strong commitment to skills development for their workers.
Eligibility Requirements
To qualify, a company must:
- Be a for-profit company subject to state taxes;
- Pay wages exceeding the average wage standard (as compared to other similar firms in the same geographical area with matching NAICS codes);
- Be either a manufacturer or able to document that most of its sales are to Kansas manufacturers and/or out-of-state businesses or government agencies.
A business in any NAICS code can qualify if it is a headquarters or back-office operation of a national or multi-national corporation.
Application Information
Please complete and submit the application linked below.
Additional information available from the Kansas Department of Commerce.
ABANDONED WELL PLUGGING CREDIT
KANSAS DEPARTMENT OF REVENUE
An income tax credit is allowed for expenditures made for plugging any abandoned oil or gas well in accordance with rules and regulations of the state corporation commission.
AGRITOURISM LIABILITY INSURANCE CREDIT
KANSAS DEPARTMENT OF REVENUE
A credit is allowed in an amount equal to 20% of the cost of liability insurance paid by a registered agritourism operator that operates an agritourism activity.
ALTERNATIVE FUEL TAX CREDIT
KANSAS DEPARTMENT OF REVENUE
Any person, association, partnership, limited liability company, limited partnership, or corporation who owns and operates a qualified alternative-fueled motor vehicle licensed in the State of Kansas or who makes an expenditure for a qualified alternative-fuel fueling station during the tax year qualifies for an income tax credit.
APEX
KANSAS DEPARTMENT OF COMMERCE
APEX (Attracting Powerful Economic Expansion) addresses the unique needs of for-profit companies within targeted industry sectors that invest $1 billion or more in the expansion of their operations or relocation of their headquarters anywhere in the state. APEX may also include up to five suppliers for such projects.
ASSISTIVE TECHNOLOGY CONTRIBUTION CREDIT
KANSAS DEPARTMENT OF REVENUE
An income tax credit shall be allowed for any program contributor that makes a contribution to an individual development account reserve fund.
ATTRACTION DEVELOPMENT GRANTS
KANSAS DEPARTMENT OF COMMERCE
The Attraction Development Grant Program provides funding strategic economic assistance to public and private entities and not-for-profit groups that are developing tourism attractions.
BIOMASS-TO-ENERGY PLANT TAX EXEMPTION AND DEDUCTION
KANSAS DEPARTMENT OF COMMERCE
A taxpayer may be entitled to a deduction from Kansas adjusted gross income of the amortizable costs of a new facility or expansion of an existing biomass-to-energy plant.
BUSINESS AIRCRAFT PROPERTY TAX EXEMPTION
KANSAS DEPARTMENT OF REVENUE
A property tax exemption is available for aircraft used in business and industry.
CARBON DIOXIDE CAPTURE/SEQUESTRATION TAX DEDUCTION
KANSAS DEPARTMENT OF COMMERCE
A taxpayer shall be entitled to a deduction from Kansas adjusted gross income with respect to the amortization of the amortizable costs of carbon dioxide capture, sequestration or utilization machinery and equipment based upon a period of 10 years.
CENTER FOR ENTREPRENEURSHIP CREDIT
KANSAS DEPARTMENT OF REVENUE
An income tax credit shall be allowed for a contributor that makes a contribution to the Kansas Center for Entrepreneurship (KCE).
CERTIFICATE OF FREE SALE
KANSAS DEPARTMENT OF COMMERCE
The Certificate of Free Sale, also referred to as a Certificate of Origin, is required in certain countries or for certain commodities (such as food products, ingredients). This document certifies that the specified imported goods are normally and freely sold in the exporting country’s open markets and are approved for export.
CHILD DAY CARE ASSISTANCE CREDIT
KANSAS DEPARTMENT OF REVENUE
The Child Day Care Assistance Credit entitles businesses that provide childcare services to a credit against their income tax or privilege tax liability.
COMMUNITY COLLEGE OR TECHNICAL COLLEGE CONTRIBUTION CREDIT
KANSAS DEPARTMENT OF REVENUE
A tax credit shall be allowed for any taxpayer that makes a contribution to a community college or technical college located in Kansas for capital improvements, deferred maintenance or the purchase of technology or equipment.
COMMUNITY SERVICE CONTRIBUTION CREDIT
KANSAS DEPARTMENT OF REVENUE
Any business firm which makes a contribution to an approved community service organization is allowed a credit against their tax liability.
CONSTRUCTION HAND TOOLS PROPERTY TAX EXEMPTION
KANSAS DEPARTMENT OF REVENUE
Hand tools used in the construction industry constitute an incentive to economic development within the state and improve the general economy of the state and are therefore exempt from property tax.
DISABLED ACCESS CREDIT
KANSAS DEPARTMENT OF REVENUE
The Disabled Access Credit provides a tax credit to individuals and businesses who make their property accessible to the disabled.
ELECTRIC COGENERATION FACILITY CREDIT
KANSAS DEPARTMENT OF REVENUE
The Electric Cogeneration Facility Credit provides a tax credit to any income tax payer that makes a qualified investment in a new renewable electric cogeneration facility shall be allowed a tax credit.
EMPLOYER HEALTH INSURANCE CONTRIBUTION CREDIT
KANSAS DEPARTMENT OF REVENUE
The Employer Health Insurance Contribution Credit provides an income tax credit for employers that have established a small employer health benefit plan or made contributions to a health savings account of a covered eligible employee.
ENVIRONMENTAL COMPLIANCE CREDIT
KANSAS DEPARTMENT OF REVENUE
An income taxpayer that makes qualified expenditures for an existing refinery to comply with environmental standards shall be allowed a tax credit.
EXEMPTION OF PROPERTY FOR ECONOMIC DEVELOPMENT PURPOSES
KANSAS DEPARTMENT OF REVENUE
The board of county commissioners of any county or the governing body of any city may approve for economic development purposes a property tax exemption for up to 10 years.
FARM MACHINERY AND EQUIPMENT PROPERTY TAX EXEMPTION
KANSAS DEPARTMENT OF REVENUE
A property tax exemption exists for farm machinery and equipment.
FILM PRODUCTION CREDIT
KANSAS DEPARTMENT OF REVENUE
The Film Production Credit provides a tax credit for direct production expenditures made by an eligible film production company.
FRIENDS OF CEDAR CREST ASSOCIATION CREDIT
KANSAS DEPARTMENT OF REVENUE
There is a credit against the tax imposed by the Kansas income tax act and the privilege tax in an amount equal to 50% of the total amount contributed during the taxable year by a taxpayer to the Friends of Cedar Crest Association.
HISTORIC PRESERVATION TAX CREDIT
KANSAS DEPARTMENT OF REVENUE
An income tax credit is available for certain historic preservation project expenditures.
HISTORIC SITE CONTRIBUTION CREDIT
KANSAS DEPARTMENT OF REVENUE
The Historic Site Contribution Credit provides a tax credit to organizations contributing to non-profit or state-owned historical sites.
HOME DAY CARE PROPERTY TAX EXEMPTION
KANSAS DEPARTMENT OF REVENUE
Household goods and personal effects are exempt in Kansas, unless used to produce income. However, household goods and personal effects used in a home for day care purposes may still qualify for exemption if the home is registered or licensed with the Kansas Department of Health and Environment.
INCUMBENT WORKER TRAINING
KANSAS DEPARTMENT OF COMMERCE
The Incumbent Worker Training program provides grants to employers to assist with training.
INDIVIDUAL DEVELOPMENT ACCOUNT CREDIT
KANSAS DEPARTMENT OF REVENUE
An income tax credit shall be allowed for any program contributor that contributed to an individual development account reserve fund.
INDUSTRIAL REVENUE BONDS
KANSAS DEPARTMENT OF COMMERCE
Industrial Revenue Bonds (IRBs) are among the most popular and cost-effective methods of financing up to 100 percent of a new or growing business™ land, buildings and equipment.
INSURANCE TAX AND SALARY TAX CREDIT
KANSAS DEPARTMENT OF COMMERCE
The Insurance Tax and Salary Tax Credit provides a tax credit to insurance companies located in Kansas.
INTEGRATED PRODUCTION MACHINERY AND EQUIPMENT EXEMPTION
KANSAS DEPARTMENT OF COMMERCE
This program exempts all sales of machinery and equipment used in Kansas as an integral or essential part of an integrated production operation by a manufacturing or processing plant or facility, all sales of installation, repair and maintenance services performed on such machinery and equipment, and all sales of repair and replacement parts and accessories for such machinery and equipment.
INTERNATIONAL CREDIT REPORT
KANSAS DEPARTMENT OF COMMERCE
If you are about to close a deal with a new international customer or want to add a new agent/distributor to your marketing efforts, the Kansas Department of Commerce International Division can help. The Kansas Department of Commerce is partnered with Kreller Group to provide Kansas exporters with quality credit reporting at reduced rates.
KANSAS ANGEL INVESTOR TAX CREDIT
KANSAS DEPARTMENT OF COMMERCE
The KAITC Program is administered by the Kansas Department of Commerce and designed to bring together accredited angel investors with qualified Kansas companies seeking seed and early-stage investment. Accredited Angels Investors who make a qualified investment into an approved Kansas Qualifying Company may be eligible to receive a transferable Kansas Income Tax Credit for their investment.
KANSAS AVIATION TAX CREDITS
KANSAS DEPARTMENT OF COMMERCE
Employers may receive a non-refundable tax credit for each new qualified employee and also a tax credit for tuition reimbursement for their employees.
KANSAS CAPITAL MULTIPLIER LOAN FUND
NETWORK KANSAS
NetWork Kansas matching loan programs are designed to support private capital by providing matching funds to support startups and existing businesses that are expanding. A variety of loan programs are offered based on geography, matching loan amounts, and project need.
KANSAS DOWNTOWN REDEVELOPMENT TAX REBATE
KANSAS DEPARTMENT OF COMMERCE
Through the Downtown Redevelopment Act, areas designated by the Secretary of Commerce can receive a rebate of property tax collected on properties that have undergone approved improvements.
KANSAS INDUSTRIAL RETRAINING (KIR) PROGRAM
KANSAS DEPARTMENT OF COMMERCE
The Kansas Industrial Retraining program is a job retention tool that assists employees of restructuring industries who are likely to be displaced because of obsolete or inadequate job skills and knowledge.
KANSAS INDUSTRIAL TRAINING (KIT) PROGRAM
KANSAS DEPARTMENT OF COMMERCE
The Kansas Industrial training (KIT) program may be used to assist firms involved in net new job creation. Training can include subjects that provide knowledge and specific skills necessary for job entry including instruction on the company’s own production equipment on the plant floor or on similar machinery in a classroom setting.
KANSAS INTERNATIONAL TRADE MARKETING ASSISTANCE PROGRAM (KITMAP)
KANSAS DEPARTMENT OF COMMERCE
Eligible companies can apply to receive reimbursement for direct expenses relating to international marketing expenses.
KANSAS INTERNATIONAL TRADE SHOW ASSISTANCE PROGRAM
KANSAS DEPARTMENT OF COMMERCE
The Kansas International Trade Show Assistance Program (KITSAP) is administered by the Kansas Department of Commerce to introduce Kansas small businesses to foreign markets through exhibiting products at physical and virtual foreign trade shows.
KITE PROOF OF CONCEPT
KANSAS DEPARTMENT OF COMMERCE
The KITE Proof of Concept (POC) is designed to fill a need for support where typical funding mechanisms are not available, acting as a bridge between federal funding for basic research and commercial seed funding by angel or venture investors.
MACHINERY AND EQUIPMENT EXPENSING DEDUCTION
KANSAS DEPARTMENT OF COMMERCE
This is an expense deduction to all Kansas businesses for certain qualifying machinery and equipment, as well as canned computer software, placed into service starting in tax year 2012.
MACHINERY, EQUIPMENT, MATERIALS, AND SUPPLIES PROPERTY TAX EXEMPTION
KANSAS DEPARTMENT OF REVENUE
A property tax exemption for low-dollar items of machinery, equipment, materials and supplies used for business purposes, or in activities by an entity not subject to Kansas income tax.
MANUFACTURING MACHINERY AND EQUIPMENT SALES TAX EXEMPTION
KANSAS DEPARTMENT OF REVENUE
The sale of machinery and equipment (including repair and replacement parts and accessories) which is used in Kansas as an integral or essential part of an integrated production operation by a manufacturing or processing plant or facility is exempt from sales tax. The installation, repair and maintenance services performed on this equipment shall also be exempt from sales tax.
MERCHANTS' AND MANUFACTURERS' INVENTORY PROPERTY TAX EXEMPTION
KANSAS DEPARTMENT OF REVENUE
A property tax exemption for merchants' and manufacturers' inventory.
MOTOR VEHICLE DEALER'S INVENTORY PROPERTY TAX EXEMPTION
KANSAS DEPARTMENT OF REVENUE
All motor vehicles held as inventory for sale by any motor vehicle dealer are exempt from property tax.
NITROGEN FERTILIZER TAX CREDIT
KANSAS DEPARTMENT OF REVENUE
A taxpayer shall be entitled to a deduction from Kansas adjusted gross income with respect to the amortization of the amortizable costs of a new integrated coal or coke gasification nitrogen fertilizer plant or an expansion of an existing integrated coal or coke gasification nitrogen fertilizer plant based upon a period of 10 years.
ON-THE-JOB TRAINING PROGRAM
KANSAS DEPARTMENT OF COMMERCE
The On-the-Job Training Program supports local businesses in their training and retraining skilled, productive workers by reimbursing some of the cost of such activities.
PETROLEUM REFINERY CREDIT
KANSAS DEPARTMENT OF REVENUE
The Petroleum Refinery Credit provides a tax credit to any income taxpayer that makes a qualified investment in a new refinery, in the expansion of an existing refinery or in the restoration of production of a refinery.
PROMOTING EMPLOYMENT ACROSS KANSAS (PEAK)
KANSAS DEPARTMENT OF COMMERCE
PEAK is a business incentive where companies may retain or be refunded 95% of the payroll withholding tax of qualified employees for new jobs created in Kansas.
PROPERTY TAX EXEMPTIONS FOR RENEWABLE ENERGY GENERATION
KANSAS DEPARTMENT OF COMMERCE
Kansas offers a property tax exemption for projects producing electricity from renewable sources.
QUALIFYING PIPELINE CREDIT
KANSAS DEPARTMENT OF REVENUE
The Qualifying Pipeline Credit provides a credit to any income tax payer that makes a qualified investment in an new qualifying pipeline.
RAILROAD MACHINERY AND EQUIPMENT PROPERTY TAX EXEMPTION
KANSAS DEPARTMENT OF REVENUE
A property tax exemption for all railroad machinery and equipment that is acquired or leased, or transported into the state of Kansas.
REGIONAL FOUNDATION CREDIT
KANSAS DEPARTMENT OF REVENUE
The Regional Foundation Credit provides a tax credit to any taxpayer contributing to an approved regional foundation.
RESEARCH AND DEVELOPMENT CREDIT
KANSAS DEPARTMENT OF REVENUE
The Kansas research and development credit allows a taxpayer who makes expenditures in research and development activities in Kansas to claim an income tax credit.
SALES TAX EXEMPTION FOR A SPECIFIC PROJECT
KANSAS DEPARTMENT OF REVENUE
HPIP Certified Businesses and Agricultural Businesses with project costs below $50,000 are exempt from sales and use tax on tangible personal property.
STATE TRADE EXPANSION PROGRAM (STEP) GRANT
KANSAS DEPARTMENT OF COMMERCE
State Trade Expansion Program (STEP) grant, administered by the Kansas Department of Commerce, helps small businesses located in Kansas begin to export and also helps existing exporters expand.
Storage and Blending Equipment Credit Kansas Department of Revenue An income taxpayer that makes a qualified investment in storage and blending equipment shall be allowed a tax credit.
SWINE FACILITY IMPROVEMENT CREDIT
KANSAS DEPARTMENT OF REVENUE
The Swine Facility Improvement Credit provides a tax credit to persons who makes improvements to a qualified swine facility against their income tax liability.
TAX CREDIT FOR LOW INCOME STUDENTS SCHOLARSHIP PROGRAM
KANSAS DEPARTMENT OF REVENUE
There is a tax credit for entities that contribute to the Low-Income Students Scholarship Program.
TAX INCREMENT FINANCING
KANSAS DEPARTMENT OF COMMERCE
Tax Increment Financing (TIF) is a real estate redevelopment tool applicable to industrial, commercial, intermodal transportation area and residential projects.
TELECOMMUNICATIONS CREDIT
KANSAS DEPARTMENT OF REVENUE
Income tax credit for a telecommunications company at an amount equal to the difference between the property tax levied at 33% assessment rate and an assessment rate of 25% on all taxes actually and timely paid during the appropriate income tax year.
TELECOMMUNICATIONS MACHINERY AND EQUIPMENT PROPERTY TAX EXEMPTION
KANSAS DEPARTMENT OF REVENUE
All telecommunications machinery and equipment acquired by qualified purchase or lease made or entered into shall be exempt from property tax.
TOURISM MARKETING GRANT
KANSAS DEPARTMENT OF COMMERCE
The Tourism Marketing Grant Program (TMGP) was developed as an ongoing grant program designed to assist organizations in innovative, dedicated advertising and marketing.
UTILITY SALES TAX EXEMPTION
KANSAS DEPARTMENT OF REVENUE
Electricity, gas or water may be exempt from sales tax depending on the use of the utility.
WAREHOUSE MACHINERY AND EQUIPMENT EXEMPTION
KANSAS DEPARTMENT OF COMMERCE
There is an exemption all sales of material handling equipment, racking systems and other related machinery and equipment used for the handling, movement or storage of tangible personal property in a warehouse or distribution facility in Kansas, all sales of installation, repair and maintenance services performed on such machinery and equipment; and all sales of repair and replacement parts for such machinery and equipment.
WASTE HEAT UTILIZATION SYSTEM EXEMPTION
KANSAS DEPARTMENT OF COMMERCE
Any waste heat utilization system is exempt from all property taxes levied at the time of purchase and after or at the start of construction or installation of such property and for 10 years immediately following the taxable year in which construction or installation of such property is completed.
Kentucky
BLUEGRASS STATE SKILLS CORPORATION SKILLS TRAINING INVESTMENT CREDIT
KENTUCKY CABINET FOR ECONOMIC DEVELOPMENT
The Skills Training Investment Credit Act is an economic development initiative which aids existing companies in their efforts to develop a skilled workforce. The STIC program provides tax credits to companies that sponsor occupational or skills upgrade training programs for the benefit of their employees.
Eligibility Requirements
Qualified companies must be registered and in good standing with the Secretary of State’s Office. A qualified company is any corporation, limited liability company, partnership, limited partnership, sole proprietorship, business trust, or any other legal entity through which business is conducted that is engaged or is planning to be actively engaged in one (1) or more of the following activities within the Commonwealth:
- Manufacturing
- Agribusiness
- Nonretail service or technology (company provides a service to or uses technology for customer or affiliate entities predominantly outside the Commonwealth and is designed to serve a multistate, national or international market)
- Headquarter operations (regardless of the underlying business activity of the company)
- Alternative fuel, gasification, energy-efficient alternative fuel, or renewable energy production
- Carbon dioxide or hydrogen transmission pipeline
- Coal severing and processing (activities resulting in the company being subject to the tax imposed by KRS chapter 143)
- Hospital operations (a facility licensed by the Cabinet for Health and Family Services under KRS 216B for the operation of a hospital and the basic services provided by a hospital)
A qualified employee (i.e. trainee) is any person who meets all of the following criteria:
- Is currently a permanent full-time employee* of the qualified company;
- Is a resident of the Commonwealth according to KRS 141.010; and
- Is paid a minimum total hourly compensation of $12.51
Application Information
A full list of required materials and documents are found on the program website.
Additional information available from the Kentucky Cabinet for Economic Development.
EMPLOYER'S UNEMPLOYMENT TAX CREDIT
KENTUCKY DEPARTMENT OF REVENUE
The Unemployment Tax Credit (UTC) program provides employers a credit of $100 per eligible hire against Kentucky income taxes owed for hiring residents who have been unemployed for 60 days and remain on the payroll for at least 180 days.
Eligibility Requirements
You are considered unemployed if:
- Prior to the 60 day minimum unemployment payment period, the individual had prior labor market attachment.
- During the 60 day minimum unemployment period prior to being hired, you were not working or were not employed more than 23 hours a week or was not employed more than 100 per month and were actively seeking and readily available for full-time employment.
Credits cannot be claimed for close relatives, dependents, a person with 50 percent or more ownership in a corporation or persons for whom the company receives federal payments for on-the-job training.
Application Information
For more information, please contact the Kentucky Career Center.
Additional information available from the Kentucky Department of Revenue.
KENTUCKY SMALL BUSINESS TAX CREDIT PROGRAM
KENTUCKY CABINET FOR ECONOMIC DEVELOPMENT
The Kentucky Small Business Tax Credit program provides a nonrefundable tax credit to eligible businesses hiring one or more eligible individuals and investing at least $5,000 in qualifying equipment or technology.
Eligibility Requirements
Eligible Applicants:
Any for-profit small business including sole proprietorships, partnerships, limited partnerships, corporations, limited liability companies, joint ventures, associations, or cooperatives that has fifty (50) or fewer full-time employees at the time of application, with the exception of ineligible business types listed below, is eligible to apply.
Eligible Position:
An Eligible Position must meet ALL of the following criteria:
- be filled by a W-2 employee subject to the Kentucky income tax imposed by KRS 141.020;
- be filled by an employee working an average of thirty-five or more hours per week for a period of
- twelve consecutive months within the twenty-four month period immediately preceding submission of a KSBTC application;
- pay an average hourly wage of $10.88 or more per hour; and
- increase the base employment of the small business.
Qualifying Equipment or Technology:
Qualifying equipment or technology must meet ALL of the following criteria:
- tangible property purchased by the applicant small business for use in the business in Kentucky (not for resale or personal use);
- tangible property with an expected useful life of one year or more;
- tangible property purchased within the twenty-four month period immediately preceding the submission of a KSBTC application; and
- tangible property approved by the Office of Entrepreneurship and Innovation
Application Information
Once a small business creates and maintains an Eligible Position for twelve months and invests a minimum of $5,000 in qualifying equipment or technology, it may apply for a small business tax credit. The small business may choose to submit several qualifying positions on one application as long as all positions and equipment meet eligibility criteria, including the requirement that all qualifying activity occur within the twenty-four months immediately preceding the application submission date. The current version of the KSBTC application can be found online at https://ced.ky.gov/Entrepreneurship/KSBTC.
Additional information available from the Kentucky Cabinet for Economic Development.
RECYCLING OR COMPOSTING EQUIPMENT TAX CREDIT
KENTUCKY DEPARTMENT OF REVENUE
This credit is for any taxpayer that purchases recycling or composting equipment to be used exclusively within this state for recycling or composting postconsumer waste materials.
Eligibility Requirements
Pass-through Entities:
A pass-through entity (partnership, S-Corporation, LLC, general partnership, trust, etc.) may apply the recycling credit against the LLET on its Kentucky Income and LLET Return and pass the credit through to its members, partners, or shareholders in the same proportion as the distributive share of income is passed through with the ordering of the credits under KRS 141.0205.
The credit is passed through to the partners, members, or shareholders of a pass through entity that are the partners, members, or shareholders at the time of the application and subsequent approval of the credit. The income is reported on the Kentucky Schedule K-1 and any credit that is passed through to the members, partners, or shareholders may be used against individual income tax or corporate income tax and LLET.
Individuals:
A sole proprietor reporting business income on Schedule C (federal Form 1040) may claim the credit for recycling equipment purchased under the business name. An individual may also claim the credit if it is passed through to them from a partnership, LLC, or S-Corporation on a Kentucky Schedule K-1.
An individual may also claim the credit if they received approval for recycling or composting equipment on their timely filed Schedule RC. If a taxpayer and spouse purchased the recycling equipment and both names are listed on the application, the credit may be wholly claimed if they file jointly, but must be split if they file separately. If the application lists only one of the spouse's names, the listed spouse is entitled to claim the full credit.
Corporations:
A corporation may apply the recycling credit against income tax and LLET on its Kentucky Corporation Income Tax and LLET Return. A corporation may also claim the credit if it is passed through to them from a pass-through entity on a Kentucky Schedule K-1
Application Information
Application Link
Additional information available from the Kentucky Department of Revenue.
AGRICULTURAL INFRASTRUCTURE LOAN PROGRAM
KENTUCKY AGRICULTURAL FINANCE CORPORATION
The Agricultural Infrastructure Loan Program is designed to help Kentucky's agricultural producers by providing access to below market financing for the acquisition, renovation and construction of agricultural structures that enhance the profitability of their farming operations.
AGRICULTURAL PROCESSING LOAN PROGRAM
KENTUCKY AGRICULTURAL FINANCE CORPORATION
Agricultural Processing Loan Program (APLP) is designed to provide loan opportunities to companies and individuals in Kentucky interested in adding value to Kentucky-grown agricultural commodities through further processing.
ANGEL INVESTMENT TAX CREDIT
KENTUCKY CABINET FOR ECONOMIC DEVELOPMENT
The Cabinet for Economic Development understands that investment in Kentucky small businesses is crucial to the economic welfare of the Commonwealth. To encourage business growth and job creation, the Kentucky Angel Investment Act Tax Credit allows angel investors people who provide capital for startup companies to receive tax credits. Qualified investors can receive a tax credit of up to 40 percent of their investment in counties with high unemployment rates, or enhanced counties, and 25 percent in all other counties.
BEGINNING FARMER LOAN PROGRAM
KENTUCKY AGRICULTURAL FINANCE CORPORATION
The Beginning Farmer Loan Program assists individuals with farming experience who desire to develop, expand or buy into a farming operation.
BIODIESEL TAX CREDIT
KENTUCKY DEPARTMENT OF REVENUE
The Biodiesel Tax Credit is a nonrefundable credit for producers and blenders of biodiesel.
BLUEGRASS STATE SKILLS CORPORATION GRANT REIMBURSEMENT PROGRAM
KENTUCKY CABINET FOR ECONOMIC DEVELOPMENT
The Grant-in-Aid program provides reimbursement dollars to companies/consortia for company specific training activities.
CELLULOSIC ETHANOL TAX CREDIT
KENTUCKY DEPARTMENT OF REVENUE
The Cellulosic Ethanol Tax Credit provides a tax credit to producers of ethanol.
CERTIFIED REHABILITATION TAX CREDIT
KENTUCKY DEPARTMENT OF REVENUE
The Certified Rehabilitation tax credit is a refundable and transferrable credit that may be applied against income taxes imposed by KRS 141.020 (individual income tax) or KRS 141.040 (corporation income tax) and the limited liability entity tax (LLET) imposed by KRS 141.0401 with the ordering of credits as provided in KRS 141.0205. This credit is for completing a certified rehabilitation to a certified historic structure which is located within the jurisdiction of a consolidated local government or urban-county government and within one-half mile of a tax increment financing that has received at least preliminary approval. Any unused credit may be carried forward 7 years.
CLEAN COAL INCENTIVE TAX CREDIT
KENTUCKY DEPARTMENT OF REVENUE
The clean coal incentive tax credit is a nonrefundable and nontransferable credit that may be taken against income taxes imposed by KRS 141.020 (individual income tax) or KRS 141.040 (corporation income tax), the limited liability entity tax (LLET) imposed by KRS 141.0401, or the public service corporation property tax (state portion only) imposed by 136.120. Unused credit amounts cannot be carried forward to later tax years and must be used on the tax return filed for the period during which the eligible coal was purchased.
COAL CONVERSION TAX CREDIT
KENTUCKY DEPARTMENT OF REVENUE
The Coal Conversion Tax Credit provides a tax credit to companies that switch to Kentucky coal powered boilers.
COMMONWEALTH SEED CAPITAL FUND
KENTUCKY CABINET FOR ECONOMIC DEVELOPMENT
The Commonwealth Seed Capital Fund (CSC) is an independent fund that invests in early-stage Kentucky businesses to facilitate the commercialization of innovative ideas and technologies.
COUNTY AGRICULTURAL INVESTMENT PROGRAM
KENTUCKY AGRICULTURAL DEVELOPMENT BOARD
The County Agricultural Investment Program (CAIP) offers 11 investment areas that provide Kentucky agricultural producers cost share assistance on practices that increase net farm income and opportunities to try new/innovative technologies or systems that improve farm efficiency and productivity.
DECEASED FARM ANIMAL REMOVAL
KENTUCKY AGRICULTURAL DEVELOPMENT BOARD
This program aids in the coordination of environmentally sound and cost effective disposal of decreased livestock for county producers.
DIRECT LOAN PROGRAM
KENTUCKY CABINET FOR ECONOMIC DEVELOPMENT
KEDFA offers a mortgage loan program to work in conjunction with private financing. The Direct Loan Program provides loans at below-market interest rates (subject to the availability of state revolving loan funds) for fixed asset financing for agribusiness, tourism, industrial ventures, or the service industry. Retail projects are not eligible.
DISTILLED SPIRITS TAX CREDIT
KENTUCKY DEPARTMENT OF REVENUE
This is a nonrefundable and nontransferable credit that may be claimed by income taxpayers who pay Kentucky property tax on distilled spirits.
DIVERSIFICATION THROUGH ENTREPRENEURSHIP IN AGRIBUSINESS LOAN
KENTUCKY AGRICULTURAL FINANCE CORPORATION
The Diversification through Entrepreneurship in Agribusinesses Loan (DEAL)Â is designed to assist individuals who are attempting to diversify their farming operations through non-traditional agricultural production or services. Beginning agri-entrepreneurs may qualify for financing for equipment purchases, facilities, permanent working capital, real estate, investment into an existing agribusiness or other investments at the discretion of the Kentucky Agricultural Finance Corporation (KAFC) board.
EMPLOYER GED INCENTIVE TAX CREDIT
KENTUCKY DEPARTMENT OF REVENUE
The Employer GED Incentive Tax Credit provides a tax credit to employers who provide the support to allow their employees to obtain their GED.
ETHANOL TAX CREDIT
KENTUCKY DEPARTMENT OF REVENUE
The Ethanol Tax Credit provides a tax credit to ethanol producers located in Kentucky.
HISTORIC PRESERVATION TAX CREDIT
KENTUCKY DEPARTMENT OF REVENUE
The tax credit provides a reimbursement for qualified rehabilitation expenses for historic rehabilitation projects.
INCENTIVES FOR ENERGY-RELATED BUSINESS ACT (IEBA)
KENTUCKY CABINET FOR ECONOMIC DEVELOPMENT
Companies establishing a cryptocurrency facility in Kentucky may be eligible for incentives through the IEBA program if the facility incurs eligible investment costs of at least $1,000,000. Potential incentives include sales and use tax refunds, corporate income or LLET tax credits, or employee wage assessment incentives.
INDUSTRIAL REVENUE BONDS
KENTUCKY CABINET FOR ECONOMIC DEVELOPMENT
Industrial Revenue Bonds (IRB) may be issued by state and local governments in Kentucky to help finance industrial buildings. IRBs issued by state and local governments in Kentucky can be used to finance manufacturing projects and their warehousing areas, major transportation and communication facilities, most health care facilities, and mineral extraction and processing projects.
KENTUCKY BUSINESS INVESTMENT PROGRAM
KENTUCKY CABINET FOR ECONOMIC DEVELOPMENT
This program provides income tax credits and wage assessments to new and existing agribusinesses, regional and national headquarters, manufacturing companies, alternative fuel, gasification, energy-efficient alternative fuels, renewable energy production companies, carbon dioxide transmission pipelines and non-retail service or technology related companies that locate or expand operations in Kentucky.
KENTUCKY ENTERPRISE INITIATIVE ACT
KENTUCKY CABINET FOR ECONOMIC DEVELOPMENT
KEIA provides a refund of Kentucky sales and use tax paid by approved companies for building and construction materials permanently incorporated as an improvement to real property. It is also available for Kentucky sales and use tax refunds for eligible equipment used for research and development, data processing equipment or flight simulation equipment.
KENTUCKY ENTERTAINMENT INCENTIVE PROGRAM
KENTUCKY FILM OFFICE
Kentucky offers tax incentives for film production.
KENTUCKY INVESTMENT FUND ACT
KENTUCKY CABINET FOR ECONOMIC DEVELOPMENT
The Kentucky Investment Fund Act (KIFA) offers a 40 percent tax credit to certain personal and corporate investors in approved investment funds.
KENTUCKY REINVESTMENT ACT
KENTUCKY CABINET FOR ECONOMIC DEVELOPMENT
The Kentucky Reinvestment Act provides tax credits to existing Kentucky companies engaged in manufacturing, agribusiness, non-retail service or technology activities, headquarters operations, hospital operations, coal severing and processing, alternative fuel, gasification, energy-efficient alternative fuels, renewable energy, or carbon dioxide transmission pipelines on a permanent basis for a reasonable period of time that will be investing in eligible equipment and related costs of at least $2,500,000 for owned facilities and $1,000,000 for leased facilities (excluding rent).
KENTUCKY SBIR/STTR MATCHING FUNDS AWARD PROGRAM
KENTUCKY INNOVATION
Kentucky Innovation Investment Program (KIIP) exists to help those entrepreneurs and new companies land the highly competitive and prestigious United States Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) federal grants, which may be matched with state funds.
KENTUCKY SELLING FARMER TAX CREDIT PROGRAM
KENTUCKY CABINET FOR ECONOMIC DEVELOPMENT
The Kentucky Selling Farmer Tax Credit program encourages continued use of agricultural land for farming by granting tax credits to selling farmers who agree to sell agricultural land and assets to beginning farmers.
KENTUCKY SMALL BUSINESS CREDIT INITIATIVE (KSBCI) 2.0
KENTUCKY CABINET FOR ECONOMIC DEVELOPMENT
The Commonwealth of Kentucky has launched an a initiative to provide $117 million in federal funds through the Treasury-administered SSBCI program. If you are a founder looking for investment capital, a venture fund investing in Kentucky startups, or a small business looking for loans and collateral support, you may be eligible to participate in these opportunities designed to increase access to capital and help Kentucky businesses thrive with KSBCI 2.0.
LARGE ANIMAL VETERINARY LOAN PROGRAM
KENTUCKY AGRICULTURAL FINANCE CORPORATION
The Vet Loan program is designed to assist individuals licensed to practice veterinary medicine in Kentucky who desire to construct, expand, equip or buy into a practice serving large animal producers, including goat, sheep, swine, and other smaller food animals.
LOCAL GOVERNMENT ECONOMIC DEVELOPMENT FUND
KENTUCKY DEPARTMENT FOR LOCAL GOVERNMENT
The Local Government Economic Development Program (LGEDP) provides grants of coal severance and processing tax revenues to coal-producing counties. Grants are made from this program to assist eligible counties in diversifying their local economies beyond coal production and meet other community development needs.
ON-FARM ENERGY EFFICIENCY INCENTIVES
KENTUCKY CABINET FOR ECONOMIC DEVELOPMENT
The On-Farm Energy Efficiency Incentives Program provides funding for Kentucky farm families to increase the energy efficiency of existing equipment or facilities.
ON-FARM WATER MANAGEMENT PROGRAM
KENTUCKY AGRICULTURAL DEVELOPMENT FUND
The KADF On-Farm Water Management Program provides incentives for Land-Grant and Regional Universities, Non-Profits and Kentucky farm families to financially incentivize better water management practices across the Commonwealth. Applicants may apply in one of three areas: Research, Development and Demonstration (RDD); Producer Implemented Project (PIP); or Small-Scale Grant (SSG).
QUALIFIED RESEARCH FACILITY TAX CREDIT
KENTUCKY DEPARTMENT OF REVENUE
The Qualified Research Facility Tax Credit provides a tax credit to businesses constructing and renovating a qualified research facility.
RAILROAD EXPANSION TAX CREDIT
KENTUCKY DEPARTMENT OF REVENUE
The Railroad Expansion Tax Credit provides a tax credit to firms that expand and upgrade railroad track.
RAILROAD MAINTENANCE AND IMPROVEMENT TAX CREDIT
KENTUCKY DEPARTMENT OF REVENUE
The Railroad Maintenance and Improvement Tax Credit provides a tax credit to businesses maintaining and improving railroad facilities.
RENEWABLE CHEMICAL PRODUCTION TAX CREDIT
KENTUCKY DEPARTMENT OF REVENUE
This credit is for a qualified taxpayer that produces renewable chemicals in Kentucky.
SMALL BUSINESS LOAN PROGRAM
KENTUCKY CABINET FOR ECONOMIC DEVELOPMENT
The Small Business Loan Program is designed to help small businesses acquire funding needed to start or grow their small business.
STATE TRADE EXPANSION PROGRAM
KENTUCKY EXPORT INITIATIVE
For companies seeking export assistance, the State Trade Expansion Program (STEP) grant is available.
TAX INCREMENT FINANCING
KENTUCKY CABINET FOR ECONOMIC DEVELOPMENT
Tax Increment Financing is an economic development tool used by public agencies to finance needed infrastructure improvements for a project by earmarking future tax gains resulting from the development for the improvements.
TOURISM DEVELOPMENT INCENTIVE PROGRAM
KENTUCKY DEPARTMENT OF TOURISM
The Tourism Development Act provides developers of approved new or expanding tourism projects the ability to recover up to 25% of the project's development costs over a 10-year term.
WESTERN KENTUCKY RISK ASSISTANCE FUND (WKRAF)
KENTUCKY CABINET FOR ECONOMIC DEVELOPMENT
The Program provides an enrolled Qualified Lender the following inducement: the lesser of twenty-five percent (25%) or up to one million dollars ($1,000,000) of the loss incurred by a Qualified Lender on the unpaid principal balance of a Commercial Loan made by a Qualified Lender to an Eligible Company. Twenty-five million dollars ($25,000,000) is appropriated to the Program and will be used to provide Inducements to Qualified Lenders on the first two hundred million dollars ($200,000,000) of Commercial Loans enrolled in the Program, provided that a Qualified Lender shall be eligible to enroll no more than ten million dollars ($10,000,000) in Commercial Loans in the Program.
Louisiana
INCUMBENT WORKER TRAINING PROGRAM (IWTP)
LOUISIANA WORKFORCE COMMISSION
The Incumbent Worker Training Program (IWTP) is a partnership between the Louisiana Workforce Commission (LWC), business and industry, and training providers.
Eligibility Requirements
Employers:
- Must have been in business in the state for at least three years, contributing and in full compliance with state UI tax laws;
- Must have at least 15 employees to be trained (employers can form consortiums to meet this requirement); and
- Request training to either: a) prevent job loss caused by obsolete skills, technological change, or national or global competition; b)create, update, or retain jobs in a labor demand occupation; or c) update or retain jobs in an occupation which is not a labor demand occupation, if the administrator determines that the services are necessary to prevent the likely loss of jobs.
Trainees must be incumbent workers for whom the employer incurs a Louisiana UI tax liability;
Training Providers selected by employers must demonstrate a history of:
- Successful training through its placement, retention, and satisfaction rates;
- Collaboration with the targeted industry in the development of the training program curriculum; and
- Use of a current industry standard as the basis for programs utilized to train students for employment in the targeted industry.
Application Information:
Application Link
Additional information available from the Louisiana Workforce Commission.
LOUISIANA SSBCI - MICRO LENDING PROGRAM
LOUISIANA ECONOMIC DEVELOPMENT
Provides access to capital for small businesses and startups with loans of up to $100,000 for smaller financing needs.
Eligibility Requirements
- Authorized to conduct business in Louisiana and maintains an office in Louisiana.
- 100 employees or less
- Funding requests for an eligible business purpose
Application Information
- Applicant contacts an MLP Participating Lender.
- Applicant completes the lender’s loan application and provides any supporting application documents requested.
- The lender completes underwriting and structures the loan.
- The lender submits the full loan package to LED for review.
- After review of the application packet by the appropriate LEDC committee/board, the lender is notified of the loan decision.
- Once approved, the lender coordinates the loan closing and disburses funds to the applicant.
- The lender provides LEDC with the executed closing package in accordance to the program agreement.
Additional information available from the Louisiana Economic Development.
LOUISIANA VETERANS FIRST BUSINESS INITIATIVE
LOUISIANA ECONOMIC DEVELOPMENT
The program will allow for veterans, active-duty or reserve military, or Gold Star spouses who have a fifty-one percent ownership in a business to apply for and gain certification to recognize and promote their businesses. In addition, the program will create a searchable database for anyone seeking to patronize a veteran, active-duty or reserve military, or Gold Star spouse business.
Eligibility Requirements
Must be a veteran, active-duty or reserve military, or Gold Star spouse
Application Information
- Step 1: Register to certify a business.
- Step 2: Ensure the business is registered and in good standing with the Secretary of State.
- Step 3: Upload appropriate documentation or go to one of the Louisiana Department of Veteran Affairs Parish Service Offices, bring the required documentation, and have the business certified.
- Step 4: Insignia, decal and certificate will be emailed and mailed to business owners for use in promoting the business as owned by a veteran, active-duty or reserve military, or Gold Star spouse.
Additional information available from the Louisiana Economic Development.
SMALL AND EMERGING BUSINESS DEVELOPMENT PROGRAM
LOUISIANA ECONOMIC DEVELOPMENT
Provides developmental assistance, including entrepreneurial training, marketing, computer skills, accounting, legal and industry-specific assistance.
Eligibility Requirements
The program is open to all Louisiana small businesses that meet the following eligibility requirements for both the business and the owner. Certification is effective for up to 10 years or until the firm no longer meets the eligibility requirements for the program.
Small and Emerging Business Person
For the purposes of the program, a person who meets all criteria in this section is defined as a Small and Emerging Business Person.
- Citizenship: The person is a U.S. citizen or legal resident.
- Louisiana Residency: The person has been a Louisiana resident for at least one year.
- Net Worth: At least 51 percent of the business is owned and controlled by persons who individually have a net worth of less than $400,000, excluding personal residence, business assets and retirement accounts.
- Full-Time Employment: Managing owners who claim Small and Emerging Business Person status must be full-time employees of the applicant firm (20 or more hours per week).
Small and Emerging Business
For the purposes of the program, a business that meets all criteria in this section is defined as a Small and Emerging Business.
- Ownership and Control: At least 51 percent of the company is owned and controlled by one or more Small and Emerging Business Persons.
- Principal Place of Business: The firm's principal place of business is Louisiana.
- Lawful Function: The company has been organized for profit to perform a lawful, commercially useful function.
- Business Net Worth: The business' net worth does not exceed $1.5 million.
- Job Creation: An applicant firm anticipates creating new full-time jobs.
Application Information
- Complete the application online.
- LED reviews online application.
- Certification status is emailed to applicant.
- Contact an intermediary for an assessment.
- Receive assistance as identified in the assessment.
Additional information available from the Louisiana Economic Development.
ANGEL INVESTOR TAX CREDIT
LOUISIANA ECONOMIC DEVELOPMENT
Louisiana’s Angel Investor Tax Credit (AITC) encourages accredited investors to invest in early stage, small wealth-creating Louisiana businesses that seek startup and expansion capital. It provides a 25 percent tax credit on investments by accredited investors who contribute to businesses certified by LED as Louisiana Entrepreneurial Businesses. Investors can invest $720,000 per business per year and $1.44 million per business over the life of the program.
BONDING ASSISTANCE PROGRAM
LOUISIANA ECONOMIC DEVELOPMENT
Provides bond guarantees up to 25 percent or $100,000, whichever is less, for qualifying contractors requiring surety bonds for private or public jobs.
BUSINESS AND INDUSTRIAL DEVELOPMENT COMPANIES (BIDCO) INVESTMENT PROGRAM
LOUISIANA OFFICE OF FINANCIAL INSTITUTIONS
Provides for a match or co-investment in certified BIDCOs (business and industrial development corporation). BIDCOs are state-chartered, non-depository alternative financing sources for small businesses. BIDCOs frequently provide equity and subordinated debt financing to new and growing companies, as well as to companies requiring turnaround assistance.
CEO ROUNDTABLES
LOUISIANA ECONOMIC DEVELOPMENT
Provides peer-to-peer learning that gives executives the opportunity to discuss business practices and management strategies with other executives who deal with similar growth challenges.
COMMUTER AIRLINE SALES TAX EXCLUSION
DEPARTMENT OF REVENUE
Louisiana provides a sales tax exclusion for commuter airlines in the State.
DIGITAL INTERACTIVE MEDIA AND SOFTWARE DEVELOPMENT INCENTIVE
LOUISIANA ECONOMIC DEVELOPMENT
Provides up to a 25 percent tax credit for Louisiana resident labor expenditures and an 18 percent tax credit on qualified production expenditures.
ENTERPRISE ZONE TAX CREDIT
LOUISIANA ECONOMIC DEVELOPMENT
Provides a job tax credit of up to $3,500 per certified net new permanent, full-time job and either a state sales/use tax rebate on qualifying expenses or an investment tax credit equal to 1.5 percent for qualified capital expenditures, excluding tax-exempted items. Also provides a rebate of state sales and use taxes paid on qualifying materials, and / or equipment purchased or a 1.5% refundable investment tax credit on the total capital investment. The rebate does not exceed $100,000 per job.
ENTERTAINMENT JOB CREATION PROGRAM
LOUISIANA ECONOMIC DEVELOPMENT
Provides a 15 or 20 percent tax credit on annual wages to qualified entertainment companies that create a minimum of five well-paid net new jobs for Louisiana residents.
EXEMPTIONS FOR MANUFACTURING ESTABLISHMENTS
LOUISIANA ECONOMIC DEVELOPMENT
The State of Louisiana grants new businesses and expanding existing businesses exemptions against their corporate income/franchise tax, sales and use taxes, and any other state taxes imposed directly on the applicant.
HUDSON INITIATIVE
LOUISIANA ECONOMIC DEVELOPMENT
Provides eligible Louisiana small businesses with greater access to state purchasing and contracting opportunities.
INVENTORY TAX/AD VALOREM TAX CREDIT
LOUISIANA DEPARTMENT OF REVENUE
A refundable tax credit is allowed for ad valorem taxes paid to political subdivisions on inventory held by manufactures, distributors, and retailers and on natural gas held, used, or consumed in providing natural gas storage services or operating natural gas storage facilities.
LED FASTSTART
LOUISIANA ECONOMIC DEVELOPMENT
The FastStart team crafts unique programs that ensure high-quality, flexible workers are prepared on day one and beyond.
LIVE PERFORMANCE PRODUCTION INCENTIVE PROGRAM
LOUISIANA ECONOMIC DEVELOPMENT
Provides a tax credit pf up to 18 percent for musical and theatrical productions and additional credits are available for employing Louisiana residents.
LOUISIANA CONTRACTORS ACCREDITATION INSTITUTE
LOUISIANA ECONOMIC DEVELOPMENT
Offers seminars and courses to small and emerging construction businesses that assist in building as solid foundation of knowledge within the construction industry.
LOUISIANA IMPORT TAX CREDIT
LOUISIANA ECONOMIC DEVELOPMENT
A one-time nonrefundable income tax credit for imported cargo received by a port facility within its port credit incentive period.
LOUISIANA INDUSTRIAL AD VALOREM TAX EXEMPTION PROGRAM (ITEP)
LOUISIANA ECONOMIC DEVELOPMENT
Provides an 80 percent property tax abatement for an initial term of five years and the option to renew for five additional years at 80 percent tax abatement on a manufacturer's qualifying capital investments.
LOUISIANA OPPORTUNITY ZONES
LOUISIANA ECONOMIC DEVELOPMENT/FEDERAL GOVERNMENT
Provides a federal tax incentive for investors to re-invest their capital gains into Opportunity Funds, which are specialized vehicles dedicated to investing in designated low-income areas.
LOUISIANA SSBCI - LOUISIANA SEED CAPITAL PROGRAM
LOUISIANA ECONOMIC DEVELOPMENT
Provides financing to start-up businesses and early-stage small businesses through approved Louisiana based program participants such as venture capital funds, early-stage investment funds and nonprofit organizations.
LOUISIANA SSBCI - COLLATERAL SUPPORT
LOUISIANA ECONOMIC DEVELOPMENT
Establishes pledged cash collateral accounts with participating lenders to enhance the loan collateral coverage for these borrowers.
LOUISIANA SSBCI - SMALL BUSINESS LOAN GUARANTY PROGRAM
LOUISIANA ECONOMIC DEVELOPMENT
Facilitates capital accessibility by providing guarantees to banks and other financial institutions on their loans to Louisiana-based small businesses to help with their business development or expansion needs. A loan guaranty is not a direct loan or grant.
LOUISIANA SSBCI - VENTURE CAPITAL PROGRAM
LOUISIANA ECONOMIC DEVELOPMENT
Venture capital funds, early-stage investment funds and non-profit organizations create partnerships into a new venture capital fund. Each fund will provide private financing through investments to small businesses in order to create jobs.
MENTOR-PROTEGE RECOGNITION PROGRAM
LOUISIANA ECONOMIC DEVELOPMENT
Connects Louisiana-based small and emerging businesses to technical and developmental assistance provided by mentor companies. These mentor companies assist in building the capacity of the protege businesses to compete successfully for public and private sector opportunities.
MOTION PICTURE PRODUCTION PROGRAM
LOUISIANA ECONOMIC DEVELOPMENT
Provides a tax credit of up to 40 percent on qualified production expenditures including an additional 15 percent tax credit for Louisiana resident labor expenditures.
MUSIC JOB CREATION PROGRAM
LOUISIANA ECONOMIC DEVELOPMENT
The Music Job Creation Program provides a tax credit on annual W2 wages to music industry related companies (known as a Qualified Music Company) that create well-paid jobs for Louisiana residents.
PORTS OF LOUISIANA INVESTOR TAX CREDIT PROGRAM
LOUISIANA ECONOMIC DEVELOPMENT
Through the Ports of Louisiana Tax Credit, LED issues credits to businesses investments in and use port facilities in Louisiana.
PROCUREMENT PROCESSING COMPANY REBATE PROGRAM
LOUISIANA ECONOMIC DEVELOPMENT
This program authorizes the Secretary of LED to enter into contracts with procurement processing companies to recruit to Louisiana, purchasing companies that generate sales of items subject to states sales/use taxes. The contract provides a rebate to these procurement processing companies.
QUALITY JOBS REBATE (QJ)
LOUISIANA ECONOMIC DEVELOPMENT
The Quality Jobs, or QJ, program provides a cash rebate to companies that create well-paid jobs and promote economic development in Louisiana.
REHABILITATION OF HISTORIC STRUCTURES TAX CREDIT
LOUISIANA DIVISION OF HISTORIC PRESERVATION
A non-refundable credit is allowed for the eligible cost and expenses incurred during the rehabilitation of a historic structure located in a downtown development or a cultural district.
RESTORATION TAX ABATEMENT (RTA)
LOUISIANA ECONOMIC DEVELOPMENT
The Restoration Tax Abatement (RTA) program provides an up-to ten-year abatement of property taxes (ad valorem) on renovations and improvements of existing commercial structures and owner-occupied residences located within economic development districts, downtown development districts, historic districts, and opportunity zones.
RETENTION AND MODERNIZATION CREDIT
LOUISIANA ECONOMIC DEVELOPMENT
The purpose is to provide an inducement for businesses to remain in the state, not relocate outside the state, and modernize their existing operations in Louisiana. The credit is granted at the rate of up to five percent of the amount of qualified expenditures incurred by the employer for modernization with the credit divided in equal portions for five years. The credit can be claimed against individual income tax or corporation income or franchise taxes. A retention and modernization tax credit shall expire and have no value or effect on tax liability beginning with the eleventh tax year after the tax year in which it was originally granted.
RURAL ENTREPRENEURSHIP INITIATIVE
LOUISIANA ECONOMIC DEVELOPMENT
LED’s Rural Entrepreneurship Initiative, delivered in partnership with the Edward Lowe Foundation, aims to accelerate the growth of second-stage businesses in rural areas of Louisiana. With the unique challenges rural entrepreneurs face, program participants will be able to identify what scaling means for both their companies and their communities. They will then move on to develop and refine their business strategy and will be connected to the right tools and expertise to execute the strategy.
SMALL BUSINESS LOAN AND GUARANTY PROGRAM
LOUISIANA ECONOMIC DEVELOPMENT
The Small Business Loan Guaranty Program (SBLGP) facilitates capital accessibility by providing guarantees to banks and other financial institutions on their loans to Louisiana-based small businesses to help with their business development or expansion needs. A loan guaranty is not a direct loan or grant; rather, it helps facilitate the access to capital for small business owners that are having trouble qualifying for a traditional business loan. If a bank is unwilling to lend money due to high risk or strict credit policies, a state guarantee may significantly reduce the bank’s risk without compromising its usual lending requirements.
SOUND RECORDING INCENTIVE PROGRAM
LOUISIANA ECONOMIC DEVELOPMENT
The Sound Recording Incentive Program, statutorily known as Sound Recording Investor Tax Credit, provides an 18% tax credit for sound recording projects made in the State of Louisiana. Louisiana also offers some of the world's finest talent and recording studios to complement the attractive financial benefits of recording in state. Sound recording investor tax credits are issued as rebates.
STATE TRADE EXPANSION PROGRAM (STEP) GRANT
LOUISIANA ECONOMIC DEVELOPMENT
The STEP Grant program is designed to help Louisiana small businesses generate new export revenue and create or retain jobs resulting from sales to foreign markets. Under this program, eligible small businesses can be reimbursed for expenses associated with participation in virtual and in-person trade shows, trade missions, and export training workshops, as well as other eligible expenses including shipping sample products, compliance testing, fee services offered by the U.S. Commercial Service, internationally-focused website development and design of marketing media, and other activities and expenses as determined by SBA.
SYSTEM FOR INTEGRATED GROWTH
LOUISIANA ECONOMIC DEVELOPMENT
Louisiana Economic Development’s System for Integrated Growth (SIG) program provides Louisiana-based small businesses with the information they need to grow and succeed. Through accelerated technical assistance and customized research, the SIG program addresses issues that impact business growth, whether they are internal problems or outside the walls of your company.
TAX EQUALIZATION PROGRAM
LOUISIANA ECONOMIC DEVELOPMENT
Provides a procedure whereby the total state and local taxes imposed upon these establishments may be reduced, after all other tax incentives for specific sites are applied to the levels imposed by other competing states.
VETERAN INITIATIVE (LAVETBIZ)
LOUISIANA ECONOMIC DEVELOPMENT
A certification program that is designed to help eligible Louisiana Veteran-owned and Service-Connected Disabled-Veteran-owned small businesses gain greater access to purchasing and contracting opportunities that are available at the state government level.
Maine
BACK-TO-WORK GRANT PROGRAM
MAINE DEPARTMENT OF LABOR
To help support Maine’s economy, especially during the busy summer season, the Back-to-Work Employer Grant Program offers grants to businesses to pay as hiring bonuses to qualifying new employees.
Eligibility Requirements
For the $1,500 grant, full-time new hires must:
- Have received unemployment benefits for the week ending May 29, 2021.
- Have started one full-time job (at least 35 hours per week) in Maine between June 15 and July 25, 2021.
- Be employed for at least eight weeks, at an hourly wage of less than $25.
- Not receive unemployment benefits during their period of employment.
For the $750 grant, part-time new hires must:
- Have received unemployment benefits for the week ending May 29, 2021.
- Have started one part-time job (at least 20 hours per week) in Maine between June 15 and July 25, 2021.
- Be employed for at least eight weeks, at an hourly wage of less than $25.
- Not receive unemployment benefits during their period of employment.
To receive a grant payment, businesses must:
- Once the qualifying new hire has a start date, enter the employee information and job details into the online application portal.
- Following the employee’s first eight weeks of work, provide documentation of their wages to receive the grant. You will also be asked to provide a record of prompt payment to the employee, once the grant funds are delivered.
- Register with the State as a vendor and with Maine JobLink prior to making the grant payment. (See the benefits of registration for your business below.)
Additional information available from the Maine Department of Labor.
COMMERCIAL FACILITIES DEVELOPMENT PROGRAM
MAINE RURAL DEVELOPMENT AUTHORITY
The Commercial Facilities Development Program (CFD) provides financial resources to assist in the development of new commercial facilities and the acquisition and redevelopment of nonproductive commercial facilities for subsequent return to productive use through sale or lease.
Eligibility Requirements
The Authority mayundertake a Development or Redevelopment Project, as owner or lender, forsubsequent use and sale under the following conditions:
- A Development Project must involve real estate that is zoned, sited, or otherwise suitable for development as a Commercial Facility. A Redevelopment Project must have been previously and materially used as a Commercial Facility, or must besuitable for adaptation to a commercial or industrial use.
- A Redevelopment Project or Development Project must involve real estate that iscurrently not in productive commercial use or, with respect to a Redevelopment Project, is expected to be taken out of productive use within the immediatefuture;
- The Redevelopment Project or Development Project must involve real estate that hasnot been placed under a purchase option or contract under circumstances that would reasonably indicate that the property would be developed withoutAuthority assistance, or that the proposed use would not meet the other requirementsof this Section 2.
- The Authority, using due diligence, has determined that:
- There is a reasonable expectation that the Development or Redevelopment Project willbecome financially viable following its redevelopment;
- With respect to a Development Project, it will create employment opportunities andother economic benefits within the region; and
- The economic benefits, including the creation or restoration of employmentopportunities, expected to result from the Development or Redevelopment Projectjustify the risks associated with the Authority's equity interest in the Development or Redevelopment Project.
- Except as provided in Section 3, at least twenty-five percent (25%) of the total costof the Development or Redevelopment Project will be borne by the Municipality, Local Development Corporation, or another entity.
- To the extent the Development Project involves undeveloped land or personal property,such undeveloped land or personal property is part of the overall Redevelopment or Development Project that meets the requirements of this Section 2.
Additional Information
Matthew Lindquist
Finance Authority of Maine
PO Box 949, 5 Community Drive
04332, ME
Phone: (207)620-3527
[email protected]
Additional information available from the Maine Rural Development Authority.
COMMERCIAL LOAN INSURANCE
FINANCE AUTHORITY OF MAINE
The commercial loan insurance insures a portion of loans made through participating financial institutions.
Eligibility Requirements
Any business or business project for any such business that is located in the state of Maine is eligible, except for businesses or uses as follows:
- Religious or fraternal organizations
- Gambling or adult entertainment facilities
- Residential housing
- Investment real estate (50% or more non-owner occupied)
- Personal, family or household expenses
Targeted industries and/or markets are defined by the Maine Legislature and include:
- Biotechnology;
- Information Technology (including, Broadband);
- Composites and Advanced Materials;
- Marine Technology and Aquaculture;
- Forest Products, Fishing and Agriculture;
- Precision Manufacturing; and
- Environmental Products.
Additional Information
Finance Authority of Maine
5 Community Drive
Augusta, ME 04332
Phone: (800)228-3734
[email protected]
Additional information available from the Finance Authority of Maine.
EMPLOYMENT TAX INCREMENT FINANCING (ETIF)
MAINE DEPARTMENT OF ECONOMIC AND COMMUNITY DEVELOPMENT
Employment Tax Increment Financing (ETIF) is a state program that helps new and established Maine businesses hire new employees by paying the business 1.35%-3.6% of qualified employee income up to ten years.
Eligibility Requirements
Your business will qualify for ETIF if it:
- Is a non-retail, non-public utility, for-profit business.
- Hires five or more net new, full-time, qualified employees within two calendar years of becoming ETIF-certified.
Additional Information
Maine Department of Economic and Community Development
Burton Cross Building, 3rd Floor 111 Sewall St
Augusta, ME 04333-0059
Phone: (207)624-9800
[email protected]
Additional information available from the Maine Office of Business Development.
FAME DIRECT LOAN
FINANCE AUTHORITY OF MAINE
The FAME Direct Loan (also known as the Economic Recovery Loan Program) provides subordinate (gap) financing to assist businesses in their efforts to remain viable and improve productivity.
Eligibility Requirements
Businesses must:
- Be Maine-based
- Exhibit reasonable ability to repay the loan
- Demonstrate that other sources of capital have been exhausted.
Additional Information
Finance Authority of Maine
5 Community Drive
Augusta, ME 04332-0949
Phone: (207)623-3263
Fax: (207)623-0095
[email protected]
Additional information available from the Finance Authority of Maine.
GROW MAINE: SMALL BUSINESS LOAN & CAPITAL PROGRAM
FAME MAINE
Grow Maine, administered by FAME in conjunction with various statewide lending partners, provides up to $62 million of State Small Business Credit Initiative (SSBCI) funding to eligible Maine businesses.
Eligibility Requirements
- Maine businesses and nonprofits with fewer than 750 employees
- Eligible Purposes:Support loans or investments/projects up to $20 million for legal business purposes, including but not limited to the following:
- Start-up costs
- Working capital
- Business procurement
- Franchise fees
- Equipment
- Inventory
- Purchases of owner-occupied non-investment real estate (commercial or otherwise)
- Purchase, construction, renovation, or improvements of an eligible place of business
Application Information
Borrowers considering financing should contact FAME.
Finance Authority of Maine
5 Community Drive
Augusta, ME 04332-0949
Phone: (207)623-3263
Fax: (207)623-0095
[email protected]
Additional information available from the FAME Maine.
LINKED INVESTMENT FOR COMMERCIAL ENTERPRISES
FINANCE AUTHORITY OF MAINE
The Linked Investment for Commercial Enterprises program reduces the interest rate of a borrower.
Eligibility Requirements
- Nonagricultural, for-profit businesses located in Maine.
- 20 or fewer employees or annual sales of less than $2,500,000.
- Must be a manufacturer or have 70% of sales outside the state.
- Loan proceeds for real property, fixed assets, research or working capital.
- 50% owned by Maine residents.
- Create or retain one job for each $20,000 of deposited funds.
Application Information
Contact FAME for reservation application. $50 application fee.
Finance Authority of Maine
5 Community Drive
Augusta, ME 04332-0949
Phone: (207)623-3263
Fax: (207)623-0095
[email protected]
Additional information available from the Finance Authority of Maine.
MAINE APPRENTICESHIP PROGRAM
MAINE DEPARTMENT OF LABOR
The Maine Apprenticeship Program assists in setting up structured yet flexible training programs designed to meet the specific needs of Maine employers through on-the-job learning and related classroom instruction. Apprenticeship Programs can be sponsored by employers, employer associations, or labor/management groups that can hire and train in a working situation.
Eligibility Requirements
An apprenticeable occupation is a skilled occupation that:
- Is typically learned practically through a structured program of 2000 hours per year of supervised on-the-job learning
- Is clearly identified and commonly recognized through an industry
- Involves specialized skills and knowledge that require a minimum number of hours as directed by the schedule of on-the-job work experience
- Requires related instruction classes to supplement on-the-job learning
Any existing employee or new hire can become an Apprentice as long as they:
- Are at least 16 years old
- Are committed to furthering their education, both in the classroom and on the job
Application Information
Detailed application instructions and required materials are listed on the program website.
Additional information available from the Maine Department of Labor.
MAINE QUALITY CENTERS PROGRAM
MAINE COMMUNITY COLLEGE SYSTEM
The Maine Quality Centers program offers workforce training grants to Maine employers interested in providing training for new or current employees.
Eligibility Requirements
- Businesses must have a physical location in Maine and trainees must be Maine residents.
- Positions trained for must be full-time, meet a minimum skill requirement, offer a competitive salary, and provide benefits.
- Training must be cost effective.
Application Information
Apply for a Maine Quality Centers (MQC) grant online at the link below or contact MQC to have an application mailed to you. There is no deadline to apply; grants are awarded for qualified businesses on a first come, first served basis. For additional information, please see the website.
Additional information available from the Maine Community College System.
MUNICIPAL SECURITIES APPROVAL PROGRAM
FAME MAINE
This program provides borrowers with local access to tax-exempt bond financing and is ideally suited when the borrower proposes to arrange their own credit enhancement.
Eligibility Requirements
Any 501(c)(3) or manufacturer borrower proposing to use bond proceeds for the acquisition or construction of business assets or, as to 501(c)(3) borrowers, other purposes allowed by tax code.
Application Information
Borrowers considering financing should contact FAME.
Additional information available from FAME Maine.
PINE TREE DEVELOPMENT ZONE (PTDZ)
MAINE DEPARTMENT OF ECONOMIC AND COMMUNITY DEVELOPMENT
The Pine Tree Development Zone Program (PTDZ) offers eligible businesses the chance to greatly reduce, or virtually eliminate, state taxes for up to ten years when they create new, quality jobs in certain business sectors, or move existing jobs in those sectors to Maine.
Eligibility Requirements
Eligible sectors are:
- Biotechnology
- Aquaculture and Marine Technology
- Composite Materials Technology
- Environmental Technology
- Advanced Technologies for Forestry and Agriculture
- Manufacturing and Precision Manufacturing
- Information Technology
- Financial Services
A new, quality job is defined as one that:
- Provides a total income above the county average. Wages, bonuses, commissions, and employer payments toward benefits such as retirement and health insurance count towards the total income measure. Use the 2023 Income Guidelines (PDF)to determine annual income requirements. (The previous year's income guidelines can be found here: 2022 Income Guidelines (PDF))
- Includes access to a group health care plan.
- Includes access to group retirement benefits, subject to ERISA, such as a 401-K or pension plan.
Additional Information
To view the application, guidance documents, and for additional information, see the website.
Additional Information available from the Maine Office of Business Development.
POTATO MARKETING IMPROVEMENT FUND
FINANCE AUTHORITY OF MAINE
The Potato Marketing Improvement Fund Program provides low-interest financing to help Maine potato growers and packers improve the quality and marketing of their potatoes. Potato Marketing Improvement funds may also be used to improve the economic viability of the potato industry.
Eligibility Requirements
Generally, any person or business engaged in growing, processing or marketing potatoes in Maine. All potatoes stored or packed in Potato Marketing Improvement Fund-financed facilities must be produced in Maine.
Funds may be used for:
- New construction or improvements to storage and packing facilities.
- Purchase of packing, sizing, washing and drying equipment.
Additional Information
Maine Department of Agriculture, Conservation and Forestry
Maine Potato Board
744 Main Street, Room #1
Presque Isle, ME 04769
Phone: (207)769-5061
[email protected]
Additional information available from the Finance Authority of Maine.
PUT ME TO WORK
MAINE COMMUNITY COLLEGE SYSTEM
The Put ME to Work program offered by the Maine Quality Centers program covers 50% of the costs to create new training programs or enhance existing ones.
Eligibility Requirements
Program guidelines include the following:
- Training can be provided to new hires or a current work force.
- Projects should result in recognized training outcomes that add to the competitiveness of both the worker and industry.
- The program requires a direct or in-kind match by the business applicant of 50% of the total project costs.
- The business must agree to hire trainees who complete the program at a rate at least $2.50 above the minimum wage.
- The business must agree to pay incumbent workers who complete the program at or above the median wage for that occupation.
Application Information
The Put Me to Work program requires a business or industry association to submit a joint application in partnership with a Maine community college. Training coordinators at each college are available to discuss the needs of a business or industry and the application process.
Additional information available from the Maine Community College System.
REGIONAL ECONOMIC DEVELOPMENT REVOLVING LOAN PROGRAM
FINANCE AUTHORITY OF MAINE
The Regional Economic Development Revolving Loan Program (REDRLP) makes loans through regional economic development agencies to help create or retain jobs.
Eligibility Requirements
Businesses that have sales under $10,000,000 or employ 100 or fewer employees, conducting business in the following categories:
- Advanced manufacturing technologies
- Advanced information systems
- Advanced biological/natural resource technologies
- Conversion from defense industry
- Significant export involvement (goods or services)
- Significant research and development
- Micro-businesses (fewer than 15 employees)
- Quality child care projects (Regional Economic Development Revolving Loan Program for Day Care is also administered directly by FAME)
- Business significantly engaged in commercial and/or mixed-use real estate and/or community facilities development
- Business significantly engaged in serving tourists, such as outdoor recreation, culture, heritage and hospitality.
Application Information
Please contact the agency covering your area for information and applications. The agency reviews, underwrites and notifies borrower of final loan determination. Applications are provided by each agency. The list of participating agencies is listed on the program website.
Additional information available from the Finance Authority of Maine.
REVENUE OBLIGATIONS SECURITIES PROGRAM
FINANCE AUTHORITY OF MAINE
The Revenue Obligations Securities Program provides manufacturing and 501(c)(3) borrowers with state access to tax-exempt bond financing.
Eligibility Requirements
Any borrower proposing to use bond proceeds for the acquisition or construction of eligible assets or, with respect to 501(c)(3) borrowers, other uses allowed by tax code.
Application Information
Borrowers considering financing should contact the Finance Authority of Maine.
Finance Authority of Maine
5 Community Drive
Augusta, ME 04332-0949
Phone: (207)623-3263
Fax: (207)623-0095
[email protected]
Additional information available from the Finance Authority of Maine.
SALES TAXES EXEMPTIONS
MAINE DEPARTMENT OF ECONOMIC AND COMMUNITY DEVELOPMENT
Maine state sales tax exemptions are available for manufacturing, R&D, custom computer programming, fuel & electricity, and biotechnology.
Additional Relevant Details
Manufacturing: Sales of machinery and equipment used by the purchaser directly and primarily in the production of tangible personal property for later sale or use is eligible for a sales tax exemption. In addition, items consumed or destroyed directly or primarily in production, and repair and replacement parts for qualified production equipment are exempt from sales tax. Also, any manufacturer is exempt from paying 95% of the sales tax on fuel and/or electricity used in the manufacturing facility.
Fuel and Electricity For Use In Manufacturing: Manufacturers are exempt from paying 95% of the sales tax on fuel and/or electricity used in the manufacturing operation.
Eligibility Requirements
Contact agency for details.
Application Information
Sales tax exemptions are applied either at the time of purchase using an Industrial Users Blanket Sales Tax Certificate of Exemption or as a refund with the Refund Form.
Additional information available from the Maine State Legislature.
THRIVE MAINE: PANDEMIC RECOVERY FORGIVABLE BUSINESS LOAN PROGRAM
FAME MAINE
Administered by FAME, Thrive Maine is a forgivable loan program for businesses and nonprofits that demonstrate COVID-related negative economic impacts.
Eligibility Requirements
- Must have significant operations in Maine (be headquartered in Maine and have a minimum of 50% of employees and contract employees based in Maine).
- Must be a Maine business or nonprofit with fewer than 500 employees.
- Must have been established by August 31, 2022.
- Must be in good standing with the State of Maine.
- Payroll, state, and federal taxes must be current.
- Must not have filed or be in bankruptcy and must be currently open for business.
- Must have a Unique Entity Identifier (UEI)at the time of submitting an application.
- Must provide an impact statement that describes your forward-looking plan to improve your business and economic viability, including how you plan to spend the loan amount requested before December 31, 2024.
- Must demonstrate a COVID-related negative economic impact of at least $10,000.
- Losses for which the business previously received federal and/or state pandemic relief, cannot be re-submitted.
Application Information
The second application period closed on June 23, 2023 at 4:30 p.m.
Additional information
5 Community Drive
Augusta, ME 04330
Phone: 800-228-3734
[email protected]
AGRICULTURAL DEVELOPMENT GRANT PROGRAM (ADG)
MAINE DEPARTMENT OF AGRICULTURE, FOOD AND RURAL RESOURCES
The Agricultural Development Grant Program (ADG) provides cost share grants to conduct market promotion, market research and development, value-added processing and new technology demonstration projects.
AGRICULTURAL MARKETING LOAN FUND (AMLF)
MAINE DEPARTMENT OF AGRICULTURE, FOOD AND RURAL RESOURCES
The Agricultural Marketing Loan Fund provides low-cost financing to help farmers, food processors and aquaculture operators adopt new and innovative equipment and facilities in order to improve and enhance the manufacturing, marketability and production of Maine products.
COASTAL COMMUNITY PLANNING GRANT PROGRAM
MAINE DEPARTMENT OF AGRICULTURE, FOOD AND RURAL RESOURCES
The Coastal Community Grant program is a competitive grant program that provides federal funds for projects in Maine’s coastal zone with a focus on priority coastal issues, as identified by the Maine Coastal Program and the Maine Climate Council’s Maine Won't Wait: A Four-Year Plan for Climate Action.
COMPLIANCE ASSISTANCE LOAN PROGRAM
FINANCE AUTHORITY OF MAINE
The Compliance Assistance Loan Program is intended to help businesses finance the renovation, removal, disposal or replacement of all or any part of certain oil storage facilities or tanks and certain air quality improvement equipment, in conjunction with the Maine Municipal Bond Bank and the Maine Department of Environmental Protection.
COWORKING DEVELOPMENT FUND AND PROGRAM
MAINE DEPARTMENT OF ECONOMIC AND COMMUNITY DEVELOPMENT
The Coworking Development Fund and accompanying program will support the success of coworking spaces by providing financial assistance and opportunity for collaboration and connection between and among coworking spaces.
DAIRY IMPROVEMENT FUND
MAINE DEPARTMENT OF AGRICULTURE, CONSERVATION AND FORESTRY
Open to Maine farms engaged in the commercial production of cow milk or cow milk products, the Dairy Improvement Fund loan program is intended to help farms and other dairy enterprises fund capital improvements to maintain and enhance the viability of their operations. The Dairy Improvement Fund loan program was developed by the Maine Department of Agriculture, Conservation and Forestry and is administered by FAME.
INTERMEDIARY RELENDING PROGRAM
FINANCE AUTHORITY OF MAINE
This program provides 1 percent low-interest loans to local lenders or intermediaries that re-lend to businesses to improve economic conditions and create jobs in rural communities.
KIM WALLACE ADAPTIVE EQUIPMENT LOAN PROGRAM (MPOWER)
FINANCE AUTHORITY OF MAINE
The Kim Wallace Adaptive Equipment Loan Program (mPower) provides assistance to individuals and businesses for the purchase, construction or installation of any product or equipment that allows an individual to become more independent within the community; promotes mobility; or improves independence and quality of life.
LINKED INVESTMENT PROGRAM FOR AGRICULTURE
FINANCE AUTHORITY OF MAINE
This program helps reduce the interest rate of the borrower. Loans are approved and funded by the financial institution according to their own policies.
LOGGING AND FORESTRY EDUCATION GRANT
MAINE DEPARTMENT OF AGRICULTURE, FOOD AND RURAL RESOURCES
Given the importance of a skilled logging workforce to the sustainable harvest of timber from Maine’s Public Reserved Lands, the purpose of this logging and forestry education grant program is to assist in the development of logging professionals.
MAINE ECONOMIC DEVELOPMENT VENTURE CAPITAL REVOLVING INVESTMENT PROGRAM
FINANCE AUTHORITY OF MAINE
The Maine Economic Development Venture Capital Revolving Investment Program allows the state to invest as an equal partner in eligible private venture capital funds that agree to support emerging and early-growth businesses in Maine. It leverages private capital and encourages experienced professional venture capital fund managers to invest in Maine start-up and growth companies.
MAINE FARMS FOR THE FUTURE PROGRAM
MAINE DEPARTMENT OF AGRICULTURE, CONSERVATION AND FORESTRY
The Maine Farms for the Future Program is a competitive grant program that provides selected farms with business planning assistance and investment support.
MAINE FILM OFFICE INCENTIVES
MAINE FILM OFFICE
Provides tax credits and wage reimbursements for visual productions.
MAINE NEW MARKETS CAPITAL INVESTMENT PROGRAM
FINANCE AUTHORITY OF MAINE
The Maine New Markets Capital Investment Program attracts investment capital to low-income communities by allowing investors to receive a state tax credit on equity investments they make in Community Development Entities (CDE).
MAINE SEED CAPITAL TAX CREDIT PROGRAM
FINANCE AUTHORITY OF MAINE
The Maine Seed Capital Tax Credit Program is designed to encourage equity investments in Maine businesses, directly and through private venture capital funds. FAME may authorize state income tax credits to investors for 40% of the cash equity provided to eligible Maine businesses. Investments may be used for fixed assets, research or working capital.
MAINE VENTURE FUND (MVF)
MAINE VENTURE FUND
The Maine Venture Fund (MVF) is a professionally managed venture capital fund that invests exclusively in Maine companies that demonstrate a potential for high growth and public benefit.
MAJOR BUSINESS HEADQUARTERS EXPANSION PROGRAM
MAINE DEPARTMENT OF ECONOMIC AND COMMUNITY DEVELOPMENT
This program is intended to encourage the location and expansion of major business headquarters, in the State of Maine, and to promote the recruitment and training of employees for these facilities.
MAJOR FOOD PROCESSING MANUFACTURING EXPANSION PROGRAM
MAINE DEPARTMENT OF ECONOMIC AND COMMUNITY DEVELOPMENT
This program is intended to encourage the location and expansion of food processing and manufacturing facilities in the State of Maine, create employment opportunities and generate significant economic growth.
MUNICIPAL TAX INCREMENT FINANCING (TIF)
MAINE DEPARTMENT OF ECONOMIC AND COMMUNITY DEVELOPMENT
Municipal Tax Increment Financing (TIF) Tax Increment Financing is a flexible finance tool used by municipalities, plantations and Unorganized Territories to leverage new property taxes generated by a specific project or projects within a defined geographic district. Any portion of the new taxes may be used to finance public or private projects for a defined period of time up to 30 years.
NUTRIENT MANAGEMENT LOAN PROGRAM
FINANCE AUTHORITY OF MAINE
The Nutrient Management Loan Program helps farms and other agricultural businesses fund nutrient management projects such as diversion, irrigation, anaerobic digesters, composting or treatment facilities.
REGIONAL ECONOMIC DEVELOPMENT REVOLVING LOAN PROGRAM FOR DAY CARE
FINANCE AUTHORITY OF MAINE
The Regional Economic Development Revolving Loan Program for Day Care is a loan that quality Maine day care centers can use to start up or make improvements.
RESEARCH EXPENSE TAX CREDIT
MAINE DEPARTMENT OF ECONOMIC AND COMMUNITY DEVELOPMENT
The Research Expense Tax Credit is available to businesses that spend money for research in Maine.
RURAL MANUFACTURING & INDUSTRIAL SITE REDEVELOPMENT PROGRAM
MAINE RURAL DEVELOPMENT AUTHORITY
The Program is intended to provide grants for technical assistance, planning or implementation related to the rehabilitation, revitalization and marketing of manufacturing and industrial sites in rural communities.
SHIPBUILDING FACILITY INVESTMENT TAX CREDIT PROGRAM
MAINE DEPARTMENT OF ECONOMIC AND COMMUNITY DEVELOPMENT
This program is intended to create and retain jobs in the shipbuilding industry, encourage investment in shipbuilding businesses and improve the competitiveness of the shipbuilding industry.
SPECIALTY CROP BLOCK GRANT PROGRAM
DEPARTMENT OF AGRICULTURE, CONSERVATION & FORESTRY
The USDA Specialty Crop Block Grant Program (SCBG) program is a competitive grant program, solicited once a year, which funds market research, market promotion and new technology projects specifically to benefit specialty crop producers.
SPECULATIVE BUILDINGS PROGRAM
MAINE RURAL DEVELOPMENT AUTHORITY
The Community Industrial (Speculative) Buildings Program (CIB) provides communities and their local development corporations with financial assistance in the form of loans for the construction and associated costs of speculative commercial and industrial buildings.
SUPER RESEARCH AND DEVELOPMENT TAX CREDIT
MAINE DEPARTMENT OF ECONOMIC AND COMMUNITY DEVELOPMENT
The Super Research and Development Credit is based on qualified research payments exceeding 150% of the average for the three-year period prior to the effective date of the credit.
Maryland
ADVANTAGE MARYLAND (MEDAAF)
MARYLAND DEPARTMENT OF COMMERCE
A flexible and broad-based program, Advantage Maryland (also known as MEDAAF) funds grants, loans and investments to support economic development initiatives. Uses include business attraction and retention, infrastructure support, brownfield redevelopment, arts and entertainment districts, daycare, revolving loan funds and local strategic planning.
Eligibility Requirements
Projects must include a County Resolution and support economic development initiatives to include:
- Business attraction and retention
- Infrastructure support
- Brownfield redevelopment
- Local revolving loan funds
- Local strategic planning within Priority Funding Areas
- Eligible industry sectors
Eligible industry sectors (as of 12/2020)*
- Aerospace Aeronautics, Unmanned Aerial Systems (UAS)
- Agriculture and Resource Based Industries
- Biotechnology, Health Care Technology, Pharmaceuticals
- Businesses with U.S. or regional headquarters in Maryland
- Distribution, Warehousing, Transportation and Logistics
- Environmental Technology, Renewable Energy and Energy Production
- Financial Services
- Information Technology, Telecommunications, Cybersecurity
- Manufacturing
Application Information
For more information about Advantage Maryland, contact the business development representative in your region. The contact information for representatives is on the Maryland Department of Commerce's website.
Additional information available from the Maryland Department of Commerce.
BUSINESSES THAT CREATE NEW JOBS TAX CREDIT
MARYLAND STATE DEPARTMENT OF ASSESSMENTS AND TAXATION & COMPTROLLER OF MARYLAND
Businesses located in Maryland that create new positions and establish or expand business facilities in the state may be entitled to a tax credit. To be eligible for the tax credit, businesses must first have been granted a property tax credit by a local government of Maryland for creating the new jobs.
Eligibility Requirements
The business must create at least 25 new positions as part of the new or expanded business facility in Maryland (5,000 square feet or more). Businesses located in smaller counties (population of 30,000 or less) must create at least 10 new positions.
An enhanced credit is instead available for businesses that create or expand a new business facility in Maryland of 250,000 square feet or more and:
- Continue to employ 2,500 employees and create 500 new positions that pay at least 150% of the minimum wage; or
- Create 1,250 new positions that are paid at least 150% of the minimum wage.
In Montgomery County only, a business can:
- Spend at least $150 million to obtain at least 700,000 square feet of new or expanded business premises through the purchase, construction, or lease of a new premises; and
- Employ at least 1,100 individuals including at least 500 new, permanent full-time positions. All of the positions must receive employer-provided subsidized health care benefits, be paid at least 150% of the minimum wage, and be located in or neighboring the new, expanded or renovated premises.
The new positions must be:
- Located in Maryland
- Part of the new or expanded business facility in Maryland
- Permanent
- Full time of indefinite duration. In Montgomery County and Washington County for tax years 2007 and later, the position can be a contract position of definite duration lasting at least 12 months with an unlimited renewal option; and
- Filled for at least one year
Application Information
The business must then apply for and receive certification for a property tax credit from the local government in which the facility is located.
The county or city government will notify the State Department of Assessments and Taxation (SDAT) that the property tax credit has been approved. SDAT will calculate and certify the amount of the allowable tax credit to the Comptroller.
COMMERCIAL, INDUSTRIAL & AGRICULTURAL GRANT PROGRAM
MARYLAND ENERGY ADMINISTRATION
The CI&A Program provides grant incentives to Maryland commercial and agricultural entities that seek to improve the energy efficiency of their existing structures, or install energy efficient technologies that exceed code-minimum standards in to-be-constructed facilities.
Eligibility Requirements
To be considered for a grant award, an application must be complete, accurate, andsigned by an authorized representative of the business owner. Contractors may not apply on behalf ofclients.
AOI 1: Commercial & Industrial Sector
- Businesses (registered corporations, LLPs, LLCs, GPs, etc.)
- Manufacturers & Industrial Entities
- Nonprofit Organizations
- Private Schools (Pre-K, K - 12)
- Privately-owned Colleges and Universities
- Other types of commercial buildings on a case-by-case basis.
AOI 2: Agricultural Sector
- Farms and Businesses in the Agricultural sector
- Entities that fall within NAICS Codes 11
Application Information
Application materials are found on the program website.
Additional information available from the Maryland Energy Administration.
COMMUNITY INVESTMENT TAX CREDITS PROGRAM
MARYLAND DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT
Community Investment Tax Credits support 501(c)(3) nonprofit organizations by awarding allocations of State tax credits for use as incentives to attract contributions from individuals and businesses to benefit local projects and services. Community Investment Tax Credits complement other State funding programs which offer resources to assist communities with revitalization efforts.
Eligibility Requirements
Nonprofit organizations, designated a 501(c)(3) organization by the Internal Revenue Service, are eligible to apply for Community Investment Tax Credits to support a project or activity that is either located in or serving a community in a Priority Funding Area.
Organizations soliciting charitable contributions in Maryland are generally required to register with the Office of the Secretary of State as a charitable organization. Nonprofits must maintain their charitable registration status with the Office of the Secretary of State of Maryland. As well as, provide an official Certificate of Status from the Maryland Department of Assessment and Taxation.
Eligible Projects:
- Projects must be located in or serve residents of a Priority Funding Area?.
- Projects typically involve activities such as:
- Education and Youth Services
- Housing and Community Development
- Job and Self-Sufficiency Training
- Enhancing Neighborhoods and Business Districts
- Arts, Culture and Historic Preservation
- Economic Development and Tourism Promotion
- Technical Assistance and Capacity Building
- Services for At-Risk Populations
Eligible Contributions:
Donors that make contributions of $500 or more are eligible to receive Community Investment Tax Credits. Individuals and businesses making donations are required to obtain from the nonprofit a Donor Acknowledgement Form and complete and submit it to the nonprofit organization receiving the contribution. Individuals or businesses that wish to donate real property must contact the nonprofit prior to making the donation.
Eligible Donors:
Businesses: Any entity that conducts a trade or business in the State and is subject to: the State income tax on individuals or corporations; the public service company franchise tax or the insurance premiums tax. These types of entities generally include corporations, public utility companies, insurance companies, financial institutions, S corporations, partnerships, sole proprietorships and limited liability corporations.
Individuals: An individual is a natural person or fiduciary having personal tax liability in the State of Maryland.
Individuals and businesses that m?ake charitable contributions benefit by:
- Reducing their Maryland tax liability
- Helping a local nonprofit organization achieve an essential community goal
- Making a targeted community impact
- Improving community relations and increasing their visibility
Application Information
The DHCD-NR Project Portal is the online gateway for application submission and award management for the Community Investment Tax Credit programs.
Additional information available from the Maryland Department of Housing and Community Development.
ECONOMIC DEVELOPMENT OPPORTUNITIES PROGRAM FUND (SUNNY DAY)
MARYLAND DEPARTMENT OF COMMERCE
The Sunny Day fund supports extraordinary economic development opportunities that create and retain employment as well as create significant capital investments. Projects must generate significant jobs in areas of high unemployment; they are evaluated on a competitive basis and must be consistent with the state's strategic economic development plan.
Eligibility Requirements
Participants must provide a minimum capital investment of at least five times the amount of the Sunny Day assistance. Applicants must possess a strong balance sheet and be credit worthy.
Application Information
For application details, interested parties should contact:
Timothy Doyle
Maryland Department of Commerce
Office of Finance Programs
401 East Pratt Street
Baltimore, MD 21202
Phone: 410-767-2369
[email protected]
Additional information available from the Maryland Department of Commerce.
ELECTRIC VEHICLE SUPPLY EQUIPMENT (EVSE) REBATE PROGRAM
MARYLAND ENERGY ADMINISTRATION
Through the program, residents, governments and businesses can acquire a state rebate for purchasing or installing an electric vehicle charging station, known as Electric Vehicle Supply Equipment (EVSE).
Eligibility Requirements
Eligible applicants for the commercial application include, but is not limited to:
- Businesses and/or limited liability companies located in Maryland and/or registered andin good standing with the Maryland State Department of Assessments and Taxation.
- This includes entities that intend to purchase and locate EVSE for non-exclusiveindividual use at multi-unit dwelling (MUD) developments (apartments,condominiums, homeowners associations etc.) If an individual living at a MUDdevelopment intends to purchase EVSE for their personal use, that individual should submit a residential application.
- This includes employers that intend to purchase and provide EVSE, located at a workplace, to their employees.
- This includes companies that intend to purchase and install EVSE to support fleetelectric vehicles.
- Incorporated non-profit entities.
- Units of state or local government.
Application Information
MEA requests that all applications be submitted electronically. If the applicant does not agree to using electronic communications regarding the rebate application.
Additional information available from the Maryland Energy Administration.
EMPLOYER-PROVIDED LONG-TERM CARE INSURANCE TAX CREDIT
COMPTROLLER OF MARYLAND
An employer, including organizations exempt from taxation under § 501(c)(3) or (4) of the Internal Revenue Code, that provides long-term care insurance as part of an employee benefit package may claim a credit for costs incurred during the taxable year.
Eligibility Requirements
Sole proprietorships, corporations and pass-through entities, such as partnerships, subchapter S corporations, limited liability companies and business trusts may claim the tax credit.
The company must provide long-term care insurance benefits to one or more employees during the taxable year as part of an employee benefits package.
Application Information
For taxable year beginning after December 31, 2012, taxpayers must file their income tax return electronically (Form 500 for Corporations, Form 510 and Form 510 Schedule K-1 for Pass-Through Entities, and Form 502 or 505 for Individuals). They must complete the Business Tax Credit Form 500CR section of the electronic return to claim this tax credit.
Additional information available from the Comptroller of Maryland.
ENDOW MARYLAND TAX CREDIT
MARYLAND DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT
Businesses or individuals who make a donation to a qualified permanent endowment fund at an eligible community foundation may be eligible for a credit against the Maryland State income tax.
Eligibility Requirements
Donations of $500 or more of cash or publicly traded securities made by the taxpayer to a qualified permanent endowment fund at an eligible community foundation that meets certain requirements are eligible for tax credits. Individuals and businesses may claim a maximum of $50,000 in credits per year, representing a donation of no more than $200,000.
The taxpayer must apply to the Maryland Department of Housing and Community Development (DHCD) for a certification for the donation.
For any tax year, the sum of all Endow Maryland tax credits, including any carryover credits, may not exceed the lesser of $50,000 or the total amount of tax otherwise payable by the individual and/or business for the tax year. Excess credits may be carried over for five (5) years.
Application Information
A copy of the required approval from the Department of Housing and Community Development DHCD must be attached to the appropriate electronic Maryland Income Tax Return - Form 500 for Corporations, Form 510 and Form 510 Schedule K-1 for Pass-Through Entities, and Form 502 for individuals, electing to use Form 500CR. The Form 500CR section of the electronic return must also be completed.
A copy of the required approval from the DHCD must be attached to Form 502 for those individuals, electing to use Form 502CR.
Additional information available from the Maryland Department of Housing and Community Development.
ENDOWMENTS FOR MARYLAND HISTORICALLY BLACK COLLEGES AND UNIVERSITIES TAX CREDIT
COMPTROLLER OF MARYLAND
Donors that make a donation to a qualified permanent endowment fund held at an eligible institution of higher education may be eligible for a credit against the Maryland State income tax.
Eligibility Requirements
Cash donations made by the taxpayer to a qualified permanent endowment fund that meet certain requirements are eligible for tax credits. Donations must be made to a qualifying fund at any of the following institutions: Bowie State University, Coppin State University, Morgan State University, or University of Maryland Eastern Shore.
In each tax year, the Comptroller may award a maximum of $60,000 in tax credits to each of the four institutions
Application Information
Donors seeking the tax credit must apply to the Comptroller for a tax credit certificate in the calendar year that the donation is made. Donors are required to submit documentation from the institution showing proof of donation within 30 days before a final tax credit certificate is issued.
Applications must be sent by e-mail and are approved on a first-come, first-serve basis until the maximum amount of authorized credits have been approved.
Additional information available from the Comptroller of Maryland.
ENTERPRISE ZONE TAX CREDIT
MARYLAND DEPARTMENT OF COMMERCE
The EZ program provides real property and state income tax credits for businesses located in a Maryland enterprise zone in return for job creation and investments. Businesses located in Focus Areas may be also qualified for personal property tax credits on new investment in personal property and enhanced income tax credit for creating new jobs.
Eligibility Requirements
Income Tax Credits:
- General Requirements
- Not every new employee hired by a business located in an enterprise zone is eligible for one of the enterprise zone income tax credits. The following requirements apply to both the general income tax credit and the income tax credit for hiring economically disadvantaged employees:
- The employee must have been hired after the business was located in the enterprise zone or focus area, or after the enterprise zone or focus area is designated,
- The employee must have been employed for at least 35 hours per week for six months (or 12 months in a Focus Area) before or during the taxable year in which the credit is taken,
- The employee must spend at least 50% of all work time in the enterprise zone or on activities of the business resulting from its location in the enterprise zone or focus area,
- The employee must have been hired to fill a new position. That is, the firm's number of full-time positions must increase by the number of credits taken, and
- The employee must earn at least 150% of the federal minimum wage.
- Not every new employee hired by a business located in an enterprise zone is eligible for one of the enterprise zone income tax credits. The following requirements apply to both the general income tax credit and the income tax credit for hiring economically disadvantaged employees:
- Requirements for Economically Disadvantaged Employees
- The following requirements apply the income tax credit for hiring economically disadvantaged employees in addition to the general requirements:
- To claim the income tax credit for hiring the economically disadvantaged employees, the business must obtained the certification from the Maryland Department of Labor, Licensing and Regulation, and
- To receive the income tax credit, an economically disadvantaged employee must remain in the position for three years.
- The following requirements apply the income tax credit for hiring economically disadvantaged employees in addition to the general requirements:
Property Tax Credits:
In order for a business to qualify for the property tax credit, it must meet all state and local eligibility requirements. To be qualified the business must satisfy one of the two specific statutory requirements, which are that business must either (1) make and investment in capital improvements, or (2) hire new employees. The business must contact the local enterprise zone administrator regarding the local eligibility requirements because the local eligibility requirements vary by the enterprise zone.
Application Information
Applicants must apply to the local enterprise zone administrator for certification. A list of contact information is provided on the Department of Commerce's website.
Contact Information
Abigail McKnight, Tax Incentive Specialist
Maryland Department of Commerce, Office of Finance Programs
(410) 767-7234
Additional information available from the Maryland Department of Commerce.
JANE E. LAWTON CONSERVATION LOAN PROGRAM
MARYLAND ENERGY ADMINISTRATION
The Maryland Energy Administration (“MEA”) provides the Fiscal Year 2022 Jane E. Lawton Conservation Loan Program (“FY22 Lawton Program”) to Maryland Nonprofit Organizations, Local Governments, Maryland Businesses, and State Agencies for the implementation of cost-effective energy efficiency and energy conservation improvements for existing or to-be-constructed facilities.
Eligibility Requirements
In order to qualify for the Lawton Loan Program, potential Borrowers must be one of the following entities:
- Nonprofit Organization (includes hospitals and schools)
- Local Government (includes public school systems and community colleges)
- Maryland Businesses (must be registered to do business with the State of Maryland)
- State Agencies
At minimum, each proposed project must meet the following requirements:
- The energy efficiency project will be installed at a facility owned or leased by the applicant organization.
- The energy efficiency project will be located within the State of Maryland.
- For Maryland nonprofit organizations, businesses, and local government applicants: each individual energy conservation measure (“ECM”)** part of the project will achieve simple payback through the borrower’s reduced operating expenses within the ECM’s expected useful life. The simple payback is calculated as follows: Total Cost of the Measure ÷ Annual Energy Cost Savings from the Measure.
- For State agency applicants: The aggregate simple payback of the project does not exceed thirteen (13) years. The aggregate simple payback is calculated as follows: Total Cost of the Project ÷ Annual Energy Cost Savings from the Project. The applicant must document that the anticipated energy cost savings over the loan period exceeds the total cost of the project.
- **An energy conservation measure (“ECM”) is a single measure of the overall project. E.g. an LED lighting retrofit, HVAC recommissioning, weatherization, etc.
Calculating Energy Consumption Baseline: Eligible projects must establish an energy consumption baseline for the facilities or dedicated spaces proposed for upgrade. A baseline is considered:
- Existing Facilities: Consumption data from the most recent 12 consecutive months’ utility bills. Consumption information for past months is available from the utility.
- To-be-constructed facilities: 12 consecutive months’ projected energy usage assuming the installation of energy code-minimum equipment, technology, building materials, etc. If an energy analysis or model was prepared with the planned submission for building permits, this should be provided as part of your application.
Applicants must then base the savings generated by their proposed projects from these baselines. Baseline consumption should be expressed in the the following units:
- Electricity Measures: kilowatt-hours (kWh)
- Natural Gas Measures: therms
- Propane and Fuel/Heating Oil Measures: gallons (gal)
- Other Types: Contact MEA for guidance.
Additional information available from the Maryland Energy Administration.
MARYLAND BUSINESS WORKS - WORKFORCE DEVELOPMENT AND ADULT LEARNING
MARYLAND DEPARTMENT OF LABOR
The Maryland Department of Labor, in consultation with the Maryland Department of Commerce, is excited to announce the continuation of Maryland Business Works (MBW), a highly successful incumbent worker training program that supports employer strategies for retention, growth expansion, and layoff aversion.
Eligibility Requirements
The training needs and costs must be reasonable, necessary and clearly related to the purpose and activities of the project-as described in the business’s submitted training plan. The business is required to match the funds provided by the Maryland Business Works program for the actual training costs on a dollar-to-dollar basis.
Training activities must be specific to the occupation, increase the occupational skill levels of existing workers, and relate to the strategic goals of the company. Participating businesses must take the necessary steps to provide incumbent worker training in specific, job-related skills from which workers will gain transferable skills and an industry-recognized credential or certificate. The Department of Labor encourages businesses with training programs that offer apprenticeships and other work-based learning and/or address workplace literacy and/or English Language Acquisition courses to apply.
Training must result in an industry-recognized credential, certificate of completion for a Registered Apprenticeship, or a certificate that results in a wage increase.
The following types of activities and items are examples of allowable training costs:
- Classroom-based training, including training that is designed to meet the specific requirements of a business,
- In-house staff training,
- Registered Apprenticeships,
- Instruction provided by consultants,
- Books and training materials,
- Initial proficiency testing (for approved curriculum),
- GED® preparation, and
- English Language Acquisition.
As Maryland Business Works is a true partnership, business participants are responsible for 50 percent of the training costs. Funds cannot be used for capital costs, the purchase of equipment, the payment of employee wages and/or benefits while in training, wage subsidies, or support services such as child care, transportation costs, lodging costs, and meals for trainees. Training costs that are part of a system or software purchase are not allowable. Other prohibited uses include introductory classes, safety and first aid courses, leadership skills training, and other training that does not directly result in enhancement of job-related, occupational skills.
Training projects will not be considered if the business is not ready to begin training activities. Business applicants must be prepared to enter into contract negotiations, and immediately begin training upon execution of a contractual agreement with the Maryland Department of Labor. To ensure that funds are expended in a timely manner, training contracts awarded for training programs cannot last longer than six months.
Exceptions with proper justification may be approved based on the need to exceed six-month training period. The State review team will approve such requests if the justification is reasonable and if the training will be completed and funds expended in a timely manner.
The successful business applicant is responsible for taking the necessary steps to make provisions for the training of its employees in specific skills that result in the workers’ acquisition of transferable skills or an industry-recognized certification or credential program. The business is also responsible for providing acceptable documentation to verify successful completion of training and actual payment for training as well as any performance/outcome information required as part of the training plan.
Application Information
To apply for Maryland Business Works funding, a business must first complete the application (Excel) and submit other required documentation including the WIOA Adult Application with Verification Listed (Word), a Certificate of Good Standing, the U.S. Citizenship and Immigration Services I-9 form “Employment Eligibility Verification,” and Internal Treasury Service W-9 form “Identification Number and Certification.” Applications will only be accepted in the Excel format. Applications must contain only one program of study per certification.
Additional information available from the Maryland Department of Labor.
MARYLAND COMMUTER TAX CREDIT
MARYLAND DEPARTMENT OF TRANSPORTATION
A business entity operating a trade or business in Maryland may claim a tax credit in an amount equal to 50% of the cost of providing qualified commuter benefits to their employees.
Eligibility Requirements
To qualify for the tax credit, the business entity must:
- be a Maryland business registered and in good standing with the Maryland Department of Taxation, or
- be an Organization exempt from taxation under §501(c) (3) or (4) of the Internal Revenue Code, and
- Provide any of the following commuter benefits for your employees:
- Transportation on a publicly or privately owned mass transit system other than a taxi service
- Vanpool (Employer Funded Program)
- Guaranteed Ride Home (Employer Funded Program)
- Cash in Lieu of Parking (Employer Funded Program)
Application Information
See the Maryland Department of Transportation's website for application details.
Additional information available from the Maryland Department of Transportation.
MARYLAND DISABILITY EMPLOYMENT TAX CREDIT (MDETC)
MARYLAND DEPARTMENT OF EDUCATION
Businesses that employ persons with disabilities, as determined by the Division of Rehabilitation Services (DORS) in the Maryland State Department of Education and/or by the Maryland Department of Labor, may be eligible for a tax credit for wages paid to, and for childcare expenses and for transportation expenses paid on behalf of qualified employees.
Eligibility Requirements
The company must hire an individual with a disability and obtain a determination from the Division of Rehabilitation Services (DORS) in the Maryland State Department of Education, or the Maryland Department of Labor for a disabled veteran, that the individual is a qualified employee with a disability. A "Qualified Employee" with a disability means an individual who:
- Meets the definition of an individual with a disability as defined by the Americans with Disability Act;
- Has a disability that presently constitutes an impediment to obtaining or maintaining employment or to transitioning from school to work; and,
- Is ready for employment; or,
- Is a veteran who has been discharged or released from active duty by the American Armed Forces for a service-connected disability.
An employee must not have been hired to replace a laid-off employee or to replace an employee who is on strike or for whom the business simultaneously receives federal or state employment training benefits. Qualifying child care expenses are those expenses incurred by a business to enable a qualified employee with a disability to be gainfully employed.
Contact Information
Department of Labor
Lloyd Day
Office of Workforce Development Director
1100 N. Eutaw Street, Room 209
Baltimore, MD 21201
Telephone: 410-767-2995
Fax: 410-333-5162
Note: As a reminder, employers may not ask an applicant if he or she is a person with a disability for tax credit or other purposes.
Additional information available from the Maryland Department of Labor.
MARYLAND ECONOMIC ADJUSTMENT FUND (MEAF)
MARYLAND DEPARTMENT OF COMMERCE
MEAF provides loans of up to $150,000 for small and underserved businesses with fewer than 50 employees.
Eligibility Requirements
Eligible businesses include manufacturers, wholesalers, service companies, and skilled trades.
Applicants must demonstrate credit worthiness, ability to repay the obligation, and an inability to obtain financing on affordable terms through normal lending channels. A loan may not be used to relocate jobs from one commuting area to another.
Application Information
Visit this page to learn about the availability of funds. Applications must be submitted to the Maryland Department of Commerce. The following additional information will be required for the Department to evaluate your application:
- Business Plan, with 3 year's projections, cost budget and sources & uses of funds.
- Current Personal Financial Statement (request form).
- A listing of all owners and percentages of ownership.
- Resume of principal owner(s).
- Personal Federal Tax Returns with all Schedules (most recent two years).
- Business Federal Tax Returns with all Schedules (most recent two years).
- Explain the amount of personal or business funds to be contributed to the project.
- Explain the type of collateral to be provided to secure the loan.
Additional information available from the Maryland Department of Commerce.
MARYLAND ENERGY STORAGE INCOME TAX CREDIT
MARYLAND ENERGY ADMINISTRATION
The tax credit is available to residential and commercial taxpayers who have installed an energy storage system on their residential or commercial property in Maryland.
Eligibility Requirements
Eligible Applicants:
The Program is open to the following taxpayers that have purchased an energy storage system:
- The owner of a commercial property who purchases and installs an energy storage system on the commercial property; or,
- The owner of a residential property who purchases and installs an energy storage system on the residential property.
The Program is open to the following taxpayers that have leased an energy storage system:
- An individual or a corporation that owns or pays for the installation of an energy storage system that supplies electrical energy intended for use on the residential or commercial property on which the energy storage system is installed.
Eligible Activities:
An energy storage tax credit may be claimed for qualifying systems that store the following types of energy:
- Electrical energy;
- Mechanical energy;
- Chemical energy (including electrochemical energy); and,
- Thermal energy that was once electrical energy
Additional information available from the Maryland Energy Administration.
MARYLAND GREEN BUILDING PROGRAM
MARYLAND ENERGY ADMINISTRATION
This program provides tax credits against the State income tax for certain costs for the construction or rehabilitation of buildings and the purchase of equipment that meets certain energy efficiency and environmental standards.
Eligibility Requirements
"Eligible building" means a building in Maryland that:
- Complies with one of the following:
- Is used primarily for nonresidential purposes if the building contains at least 20,000 square feet of interior space;
- Is a residential multifamily building with at least 12 dwelling units that contains at least 20,000 square feet of interior space; or
- Is a combination of the buildings described in §B(7) of this regulation;
Contact Information
Maryland Energy Administration
1800 Washington Boulevard, Suite 755
Baltimore, MD 21230
Phone: 410-537-4000
Fax: 410-537-4096
[email protected]
Additional information available from the Maryland Energy Administration.
MARYLAND OPPORTUNITY ZONE ENHANCEMENT CREDITS
MARYLAND DEPARTMENT OF COMMERCE
The State of Maryland provides enhancements to several of its economic development tax credit programs for businesses located in Maryland Opportunity Zones that meet certain requirements.
Eligibility Requirements
To qualify for the Opportunity Zone Enhancement program, the business must first meet the qualifications of the underlying tax credit program for which it is applying. For example, to qualify for the Job Creation Tax Credit (JCTC) enhanced credit of $3,075 per qualified position (instead of the standard JCTC credit of $3,000), the business must first meet the qualifications of the JCTC program.
For the Job Creation, One Maryland, More Jobs for Marylanders, Enterprise Zone and Enterprise Zone Focus Area income tax credits, the business must be a Qualified Opportunity Zone Business (as defined in § 1400Z–2 of the Internal Revenue Code) and have received an investment from a Qualified Opportunity Fund (as defined in § 1400Z–2 of the Internal Revenue Code).
The additional requirements for Level 1 and Level 2 Enhancements are listed below:
Level 1: Opportunity Zone Enhancement
Attach an Opportunity Zone Enhancement program application to your application for the specific tax credit. The Opportunity Zone Enhancement program application requires the following information:
- Date of Qualified Opportunity Fund's investment in the Qualified Opportunity Zone Business and amount of investment
- Total project or business investment, including leverage
- Address and census tract of the business and/or fund
- NAICs code of the business
- An impact report including qualitative and quantitative data on the investment and its progress
- Other information required by Commerce
Level 2: Opportunity Zone Enhancement
To qualify for Level 2 Enhancement credits, the business and or fund must meet the Level 1 enhancement requirements and provide the following additional information:
- Provide one of the following:
- Name and address of residents of the communities in the Opportunity Zone that serve on the Governing Board or Advisory Board of the Qualified Opportunity Zone Business.
- A copy of a community benefits agreement that is negotiated and agreed to by the community groups or strategic industry partnerships in the Opportunity Zone and the Qualified Opportunity Zone Fund.
- Provide one of the following:
- For applicants located in an Opportunity Zone within a municipality, provide a resolution or letter from the municipality approving the enhanced tax credits.
- For applicants located in an Opportunity Zone that is NOT in a municipality, provide a resolution or letter from the County approving the enhanced tax credits.
- Provide other information required by Commerce.
Additional information available from the Maryland Department of Commerce.
MARYLAND SMALL BUSINESS DEVELOPMENT FINANCING AUTHORITY (MSBDFA)
MARYLAND DEPARTMENT OF COMMERCE
MSBDFA uses include working capital, supplies and materials, machinery and equipment acquisition, acquisition of real estate, and leasehold improvements. Other uses include the purchase of an existing business or obtaining bid, financing of contracts, which receive the majority of their funding from federal, state, local government, or regulated utilities. MSBDFA can also provide bid, payment, and performance bid, payment, and surety bonds.
Eligibility Requirements
MSBDFA clients include all small businesses unable to obtain adequate business financing on reasonable terms through normal financing channels.
Application Information
For application details, interested parties should see the Maryland Department of Commerce's website.
Additional information available from the Maryland Department of Commerce.
MICROENTERPRISE LOAN PROGRAM
MARYLAND DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT
The Maryland Microenterprise Loan Program expands opportunities for microenterprise development, creates new opportunities for small business development and sustains local economies in Maryland communities.
Eligibility Requirements
Eligible businesses:
- Retail businesses
- Manufacturing businesses
- Goods and Services related businesses
- Must be located in a designated Sustainable Community area
- Small business cannot exceed $500,000 in annual revenue
- Not more than 5 employees at time of application
Eligible uses of funds:
- Working capital
- Marketing/planning/feasibility studies
- Real estate acquisition down payment
- Minor renovations
- Minor leasehold improvements
- Machinery and equipment
- Certain other costs associated with opening or expanding a small business
Ineligible uses of funds:
- No residential or transient living businesses, multifamily or single-family housing developments, nursing homes, assisted living facilities, crisis care centers, group homes, transitional housing, and homeless shelters
- No facilities such as community halls, fire stations, hospitals, colleges, or universities
- No adult bookstores, adult video shops, other adult entertainment facilities, gambling facilities, gun shops, liquor stores, massage parlors, pawn shops, tanning salons, or tattoo parlors
- No home-based businesses
Application Information
Please contact the intermediary directly to receive an application. A list is provided on the Maryland Department of Housing and Community Development's website.
Additional information available from the Maryland Department of Housing and Community Development.
MILITARY PERSONNEL AND VETERAN-OWNED SMALL BUSINESS LOAN PROGRAM (MPVOLP)
MARYLAND DEPARTMENT OF COMMERCE
MPVOLP provides no interest loans up to $50,000, from one to eight years, for businesses owned by military reservists, veterans, National Guard personnel and for small businesses that employ or are owned by such persons.
Eligibility Requirements
Eligible applicants include veteran-owned small businesses, businesses owned by military reservists and National Guard members called to active duty, and small businesses, with fewer than 50 employees that employ them.
For reservists or National Guard members called to active duty, Program funds must be used for payment of identifiable costs of the business, including general business expenses, which result from the call to active duty. The loan may be made at any time from the date of the call to active duty through the period ending six months after the end of the individual's active duty.
For service-disabled veterans, businesses owned by service-disabled veterans, and businesses employing service-disabled veterans, the purpose of the Program is to assist with the cost of making the home, motor vehicle, or place of employment of a service-disabled veteran accessible to individuals with disabilities, and to defray other necessary expenses.
Application Information
Applications must be submitted to the Maryland Department of Commerce (Commerce). Commerce will work closely with the Maryland Department of Veterans Affairs (MDVA) to obtain an eligibility review of each application. Once MDVA determines that an applicant meets basic eligibility rules for the Program, Commerce will initiate a financial review and underwriting.
The following additional information will be required for the Department to evaluate your application:
- Business Plan, with 3 year's projections, cost budget and sources & uses of funds.
- Current Personal Financial Statement (request form).
- A listing of all owners and percentages of ownership.
- Resume of principal owner(s).
- Personal Federal Tax Returns with all Schedules (most recent two years).
- Business Federal Tax Returns with all Schedules (most recent two years).
- Explain the amount of personal or business funds to be contributed to the project.
- Explain the type of collateral to be provided to secure the loan.
Commerce will review and process each application using standard commercial credit criteria to determine whether it meets the Program financial and other requirements for loan approval. Commerce will recommend approval of financing for the projects deemed to present the best chance of succeeding.
Additional information available from the Maryland Department of Commerce.
NEIGHBORHOOD BUSINESSWORKS PROGRAM (NBW)
MARYLAND DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT
The Neighborhood BusinessWorks program (NBW) provides a revitalization resource through loans that provide flexible loan financing to small businesses located in or expanding in locally designated neighborhood revitalization areas throughout the State.
Eligibility Requirements
Eligible applicants: Maryland-based small businesses (as defined by the U.S. Small Business Administration), local development corporations and nonprofit organizations whose activities contribute to a broader revitalization effort, and whose projects are intended to promote investment in commercial districts or town centers. Local governments are not eligible applicants.
Eligible projects:
- Retail businesses, including franchises
- Manufacturing businesses
- Service-related businesses Mixed-use projects, consisting of a commercial or retail use at street level and residential units
Eligible use of funds:
- Market/planning/feasibility studies
- Real estate acquisition
- New construction or rehabilitation
- Leasehold improvements
- Machinery and equipment
- Working capital (when part of total project cost)
- Certain other costs associated with opening or expanding a small business
Notes: (1) A Minority Business Enterprise Plan is required for those projects where NBDP funds will exceed $250,000 for construction or rehabilitation. (2) Construction projects are reviewed by the Department offices of Maryland Historical Trust and Codes Administration prior to funding.
Application Information
A complete NBW loan application consisting of the items on the Required Documentation Checklist in the application package must be submitted before a project can be fully processed. If the application for funds is approved, additional documentation will be necessary to close the loan.
Applicants must complete a Neighborhood BusinessWorks loan application package. Upon loan approval an applicant will receive a commitment letter from the Maryland Department of Housing and Community Development. Loan approval requires that applicants meet underwriting guidelines. Applicants must have executed the necessary legal documents prior to disbursement of the loan proceeds.
Additional information available from the Maryland Department of Housing and Community Development.
OFFICE OF SMALL BUSINESS REGULATORY ASSISTANCE (OSBRA)
MARYLAND DEPARTMENT OF LABOR
The Office of Small Business Regulatory Assistance (OSBRA) helps Maryland business owners find timely and effective solutions to issues, so they can go about running their companies.
Eligibility Requirements
Any small business in Maryland can contact OSBRA for assistance.
Application Information
Contact the Office of Small Business Regulatory Assistance for general business inquiries at the email address listed:
Maryland Department of Labor
1100 North Eutaw Street, 6th Floor
Baltimore, MD 21201
Phone: 410-230-6101
[email protected]
Additional information available from the Maryland Department of Labor.
ONE MARYLAND TAX CREDIT
MARYLAND DEPARTMENT OF COMMERCE
The One Maryland Tax Credit is an income tax credit for businesses that invest in an economic development project in a Tier 1 County and create a minimum number of qualified jobs. The amount of tax credit a business qualifies for depends on the number of jobs it creates and qualified costs it incurs.
Eligibility Requirements
In order to qualify for the One Maryland Tax Credit, a business must meet the following requirements:
- Declaration of Intent Requirement. A business may not claim any expenses incurred or jobs created prior to notifying the Department of Commerce (Commerce) in writing of its intent to seek certification for a One Maryland Tax Credit.
- Business Certification Requirement. A business must be certified as a qualified business entity eligible for the One Maryland Tax Credit.
- Job Creation Minimums. The business must create at least 10 new, full-time qualified positions at the project within 24 months. However, to receive the maximum $5 million credit, the business must have at least 50 new qualified positions within 24 months.
- Minimum Expenditure - The business must incur at least $500,000 of eligible project costs.
- Location: A business must locate or expand in a "Priority Funding Area" (PFA) in a Tier 1 County. Tier 1 Counties are subject to change. Please verify with Commerce that the project location is in a PFA and Tier 1 County.
- The following countries are Tier 1 for the One Maryland Tax Credit: Allegany, Baltimore, Caroline, Dorchester, Garrett, Kent, Somerset, Washington, Wicomico, and Worcester
- Other:
- The project must be primarily engaged in an eligible activity as defined by the statute.
- The positions must be full-time, pay 120% of State Minimum Wage, be filled for 12 months, and be a "net new" job to Maryland. The business must create the minimum number of jobs in a 24-month period.
- The facility must be engaged in an eligible activity.
The business may not claim both the One Maryland Tax Credit and Job Creation Tax Credit in the same tax year.
Application Information
Applicants must complete application materials and required documents are included on the Department of Commerce's website.
The application process requires the business to declare its intent to Maryland Commerce in writing prior to incurring eligible costs or creating new, qualified jobs. The business is encouraged to submit a Preliminary Application, along with the Employment Affidavit. The business must be certified as eligible for the tax credit by submitting a Final Application.
Additional information available from the Maryland Department of Commerce.
OPEN ENERGY GRANT PROGRAM
MARYLAND ENERGY ADMINISTRATION
The Maryland Energy Administration (MEA) occasionally receives proposals for energy projects and initiatives outside of the agency’s suite of established technology and sector specific energy programs in a given fiscal year. MEA’s OPEN Energy Program (OPEN Energy) provides an avenue for the agency to consider these proposals for funding.
Eligibility Requirements
Eligible Applicants: Businesses, nonprofit organizations, local governments, state government and educational institutions. Other restrictions may apply on a case-by-case basis.
Eligible Activities: A proposal may include capital projects, technical assistance, and other activities that align with the evaluation criteria specified in this FOA. In certain compelling cases, studies or strategy development will be considered.
Application Information
The initial proposal submission to MEA should consist of
- The OPEN Energy Application Form and
- A concept paper that will enable the MEA review team to assess potential eligibility and interest by MEA.
- The concept paper submitted to MEA shall be no more than 10 pages. The concept paper should include at a minimum the following information:
- the name and address of the entity submitting the proposal.
- a description of the organization submitting the proposal.
- the name of the point of contact for the proposal, along with contact information.
- the date of submission.
- a description of the proposed project.
- anticipated benefits of the proposed project and how these benefits relate to the state’s energy goals.
- requested funding amount.
- project partners (if applicable); and,
- matching funds (if applicable).
- The concept paper submitted to MEA shall be no more than 10 pages. The concept paper should include at a minimum the following information:
If deemed necessary by MEA, MEA may request an expanded version of the proposal or additional information and documentation. A request for additional information may include a follow-up meeting with the applicant.
Additional information available from the Maryland Energy Administration.
PARTNERSHIP FOR WORKFORCE QUALITY (PWQ)
MARYLAND DEPARTMENT OF COMMERCE
PWQ provides matching training grants and support services targeted to improve the competitive position of small and mid-sized manufacturing and technology companies. Grants are used to increase the skills of existing workers for new technologies and production processes, improve employee productivity and increase employment stability.
Eligibility Requirements
Applicants must be a Maryland employer, may not be in arrears with any State taxing agency, and not be in default with any Commerce program.
Applicants should have a minimum of ten full-time employees. At least 60% of available funds must be awarded to employers with 150 or fewer employees in the State. The Program encourages the participation of small and minority-owned businesses.
Priority will be given to manufacturing and technology companies. In regions of the State where regionally important industries have been identified beyond manufacturing and technology, justification should be provided to approve PWQ funding.
Application Information
To apply for PWQ funding, contact the regional representative from the Maryland Department of Commerce who covers the county or region where you are located. A list of regional representatives is available on the Department of Commerce's website.
Additional information available from the Maryland Department of Commerce.
SALES AND USE TAX EXEMPTION FOR REPAIR LABOR
COMPTROLLER OF MARYLAND
The restoration of used property to its original condition or usefulness is repair is not taxable. The creation or completion of a new or different item is fabrication, which is taxable.
Eligibility Requirements
The sales and use tax is applicable to eligible purchases.
Contact Information
See the Comptroller of Maryland's website for more details:
Phone: 410-260-7980
[email protected]
Additional information available from the Comptroller of Maryland.
SMALL BUSINESS RELIEF TAX CREDIT
MARYLAND DEPARTMENT OF COMMERCE
The Small Business Relief Tax Credit is a refundable tax credit available to small businesses that provide their employees with paid sick and safe leave.
Eligibility Requirements
To qualify for the tax credit, a small business must employ 14 or fewer employees whose primary work location is in Maryland, and provide its employees with paid sick and safe leave in accordance with the Maryland Healthy Working Families Act. Under the Maryland Healthy Working Families Act, employees earn 1 hour of paid sick and safe leave for every 30 hours worked, and sick and safe leave is paid at the same rate as an employee's normal hourly wages.
Qualified employee(s) earning wages paid by the small business must be equal to or less than 250% of the annual federal poverty guideline for a single-person household. For Tax Year 2021, the annual poverty guideline is $32,200 per year/$15.48 an hour.
Application Information
The Department of Commerce will begin accepting applications for the Small Business Relief Tax Credit on January 2, 2022 for Tax Year 2021. Small businesses applying for the tax credit must submit an application along with copies of employee(s) W-2 or pay stubs, and statement of accrued paid sick and safe leave provided to employee(s), for each employee for whom the tax credit is being claimed. Commerce will certify or deny an application within 45 days after the receipt of a complete application.
Contact Information
Abigail McKnight
Maryland Department of Commerce
Office of Finance Programs
401 East Pratt Street
Baltimore, MD 21202
Phone: 410-767-7234
[email protected]
Additional information available from the Maryland Department of Commerce.
SMALL, MINORITY AND WOMEN-OWNED BUSINESS ACCOUNT - VIDEO LOTTERY TERMINAL FUND (VLT)
MARYLAND DEPARTMENT OF COMMERCE
Created with the small business owner in mind, the state Video Lottery Terminal (VLT) fund uses proceeds from video lottery terminals (slots) to assist small, minority, and women owned businesses located in targeted areas surrounding six Maryland casinos: Maryland Live in Anne Arundel County, Hollywood Casino Perryville in Cecil County, Rocky Gap in Allegany County, Ocean Downs in Worcester County, Horseshoe Casino in Baltimore City and National Harbor in Prince George County.
Eligibility Requirements
Eligible Fund Managers oversee the distribution of video lottery terminal funds.
Application Information
For more information about VLT contact the fund manager in your area. Contact information is available on the Department of Commerce’s website.
Additional information available from the Maryland Department of Commerce.
SOCIAL IMPACT FUNDS
MARYLAND TECHNOLOGY DEVELOPMENT CORPORATION (TEDCO)
Both the Pre-Seed Builder Fund and the Inclusion Fund have minimum ownership requirements by individuals who demonstrate economic disadvantage. However, Maryland has a strong entrepreneurial ecosystem and oftentimes there are other business resources, including at TEDCO, available for our start-ups to grow their business.
Eligibility Requirements
TEDCO welcomes pre-seed technology start-ups from all industries to apply. However, to be applicable, a company must meet all of the following qualifications:
- Principal place of business is in Maryland
- At least one full-time employee
- No less than 50% of founders demonstrate economic disadvantage
Application Information
Opportunities are assessed on an ongoing basis. To ensure fairness, all Social Impact Funds applications must be received online through the application page on TEDCO’s website for further review. Applications that are received through other means, such as email or mail shall not be considered or reviewed for funding.
Additional information available from the Maryland Technology Development Corporation.
SOLAR CANOPY GRANT PROGRAM
MARYLAND ENERGY ADMINISTRATION
This program provides funding to support the installation of parking lot and parking garage solar photovoltaic canopy systems, which include at least four (4) Level 2 or Level 3 electric vehicle chargers under the solar canopy.
Eligibility Requirements
Eligible Applicants: Businesses, non-profits, state agencies and local governments to include public universities, community colleges, and public schools. Individual residents may not apply for this program.
Eligible Activities: Grantees will either directly install or install through the use of Power Purchase Agreements, solar canopies over parking lots or parking garages.
Additional information available from the Maryland Energy Administration.
AGRI-BUSINESS EQUIPMENT AND WORKING CAPITAL LOAN FUND
MARYLAND AGRICULTURAL AND RESOURCE-BASED INDUSTRY DEVELOPMENT CORPORATION
The Agri-Business Equipment and Working Capital Loan Fund has been established by MARBIDCO to help meet the unique financing needs of Maryland’s rural and agricultural businesses that are not otherwise able to obtain commercial financing for working capital and equipment purchases from traditional commercial lenders (e.g., banks or Farm Credit Associations). This program makes available moderate-cost loans to qualified applicants for equipment or working capital purchases.
AGRICULTURE SALES AND USE TAX EXEMPTIONS
COMPTROLLER OF MARYLAND
The sales and use tax does not apply to sales, including rentals, to a farmer of farm equipment used to raise livestock and poultry, prepare, irrigate or tend the soil, or plant, service, harvest, store, clean, dry or transport seeds or crops.
BIOTECHNOLOGY INVESTMENT INCENTIVE TAX CREDIT (BIITC)
MARYLAND DEPARTMENT OF COMMERCE
BIITC provides an investor with a refundable State income tax credit for an eligible investment in a Qualified Maryland Biotechnology Company (QMBC).
BUY MARYLAND CYBERSECURITY (BMC) TAX CREDIT
MARYLAND DEPARTMENT OF COMMERCE
The Buy Maryland Cybersecurity Tax Credit provides an incentive for Qualified Maryland Companies to purchase cybersecurity technologies and services from a Qualified Maryland Cybersecurity Seller. Qualified Maryland Companies may claim a tax credit for 50% of the net purchase price of cybersecurity technologies and services purchased from a Qualified Maryland Cybersecurity Seller. The tax credit must be claimed for the tax year in which a purchase is made.
COMBINED HEAT AND POWER GRANT PROGRAM
MARYLAND ENERGY ADMINISTRATION
This Program provides incentives to Maryland organizations, State agencies and departments, local governments, and essential infrastructure seeking capital support for the installation of qualified CHP systems at their facilities. CHP systems provide enhanced energy resilience, power redundancy, operational sustainability, and energy affordability to entities in both normal and grid outage situations.
COMMERCIAL CLEAN ENERGY REBATE PROGRAM
MARYLAND ENERGY ADMINISTRATION
The Maryland Energy Administration (“MEA”) provides rebates through the Commercial Clean Energy Rebate Program (“C-CERP”) to eligible businesses, nonprofits, local governments, and State of Maryland government agencies and departments that install eligible clean energy systems on facilities located within the State.
COMMUNITY LEGACY PROGRAM
MARYLAND DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT
The Community Legacy program provides local governments and community development organizations with funding for essential projects aimed at strengthening communities through activities such as business retention and attraction, encouraging homeownership and commercial revitalization.
CYBERSECURITY INVESTMENT INCENTIVE TAX CREDIT (CIITC)
MARYLAND DEPARTMENT OF COMMERCE
CIITC provides a refundable income tax credit to Qualified Investors who invest in Qualified Maryland Cybersecurity Companies (QMCCs).
DATA CENTER ENERGY EFFICIENCY GRANT PROGRAM
MARYLAND ENERGY ADMINISTRATION
MEA is seeking innovative energy efficiency solutions to reduce electrical usage in data centers and improve overall Power Usage Effectiveness (PUE) in existing data centers. The competitive program is open to any commercial, state/local government, or non-profit data center located or being constructed within the State of Maryland with an overall data floor facility size of at least 1,000 square feet. For the purposes of this Program, a data center is defined as a facility used to house only computers, server, and networking systems, IT components, and supporting infrastructure.
DATA CENTER MARYLAND SALES AND USE TAX EXEMPTION INCENTIVE PROGRAM
MARYLAND DEPARTMENT OF COMMERCE
Data centers that locate or expand in Maryland and create new full-time positions may receive an exemption from Maryland sales and use tax on the purchase of qualified data center personal property.
EARN MARYLAND PROGRAM
MARYLAND DEPARTMENT OF LABOR
EARN Maryland is a state-funded, competitive workforce development grant program that is industry-led, regional in focus, and a proven strategy for helping businesses cultivate the skilled workforce they need to compete.
EMPLOYER SECURITY CLEARANCE COSTS (ESCC) TAX CREDIT
MARYLAND DEPARTMENT OF COMMERCE
The ESCC Tax Credit provides income tax credits for expenses related to federal security clearance costs, construction of Sensitive Compartmented Information Facilities (SCIFs) and first-year leasing costs for small businesses doing security-based contract work.
ENERGY EFFICIENCY PROGRAM (ENERGY EDGE)
MARYLAND ENERGY ADMINISTRATION
RMI encourages energy efficiency and economic growth for manufacturers being served by Delmarva and PEPCO. The State-funded program provides funding to help manufacturers identify energy efficiency upgrades to reduce their energy expenditures and help them access resources to incentivize their investments.
EXPORTMD PROGRAM
MARYLAND DEPARTMENT OF COMMERCE
Maryland companies that receive an ExportMD Award are eligible for up to $5,000 in reimbursement for expenses associated with an international marketing project. The program is funded in part through a Cooperative Agreement with the U.S. Small Business Administration.
FILM PRODUCTION ACTIVITY TAX CREDIT
MARYLAND DEPARTMENT OF COMMERCE
A film production entity may be entitled to a refundable tax credit against the State of Maryland (State) income tax for certain costs incurred in the State that are necessary to carry out a film production activity in the State.
FORESTRY EQUIPMENT AND WORKING CAPITAL LOAN FUND
MARYLAND AGRICULTURAL AND RESOURCE-BASED INDUSTRY DEVELOPMENT CORPORATION
The Forestry Equipment and Working Capital Loan Fund helps meet the unique financing needs of state forest products businesses with respect to working capital and equipment purchases. This program makes available low-interest loans to qualified applicants for working capital and equipment purchases.
GLOBAL GATEWAY SOFT LANDING EXCHANGE PROGRAM
MARYLAND DEPARTMENT OF COMMERCE
The Maryland Global Gateway Soft Landing Program provides international companies with the opportunity to test out the U.S. market at an affordable rate.
GLOBAL GATEWAY SOFT LANDING PROGRAM
MARYLAND DEPARTMENT OF COMMERCE
bwtech@UMBC Research & Technology Park is a leading US Center for Innovation and Entrepreneurship, hosting companies focused in several key industries: cybersecurity/IT, life sciences, engineering, advanced manufacturing and clean energy. Companies in this program will benefit from expert mentoring by highly experienced international business experts and as well as program and services which will help them build a network of opportunities designed to help accelerate their entry into the US market.
INNOVATIVE TECHNOLOGY FUND
MARYLAND DEPARTMENT OF NATURAL RESOURCES
The Innovative Technology Fund, a partnership between Maryland DNR, the University of Maryland and the Environmental Protection Agency, is continuing to accelerate Bay restoration through the development of new technologies.
JOB CREATION TAX CREDIT (JCTC)
MARYLAND DEPARTMENT OF COMMERCE
Provide an income tax credit of $3,000 per new job to a business that creates new full-time jobs. If the business locates in a revitalization area (state enterprise zone, federal empowerment zone, or DHCD Sustainable Community), the credit increases to $5,000 per new job.
LOCAL FARM ENTERPRISE FOOD AGGREGATION GRANT FUND PILOT PROGRAM
MARYLAND AGRICULTURAL AND RESOURCE-BASED INDUSTRY DEVELOPMENT CORPORATION
The grant funds will be used to fund projects that help small farmers aggregate their product to make them attractive to the institutional or wholesale buyer and for projects that will help institutional buyers to increase their capacity to purchase locally grown food.
LOCAL GOVERNMENT AGRICULTURE AND RESOURCE-BASED INDUSTRY PROJECT COST SHARE PROGRAM
MARYLAND AGRICULTURAL AND RESOURCE-BASED INDUSTRY DEVELOPMENT CORPORATION
The Local Government Ag/RBI Project Cost Share Program provides support to local and regional rural business development efforts. MARBIDCO will consider a project cost-share request from a local or regional economic development office if the project fits within MARBIDCO’s statutorily established mission area. Proposed projects or activities should assist in some fashion Maryland’s farming, forestry, or seafood industries.
MAIN STREET MARYLAND (MSM)
MARYLAND DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT
Using a competitive process, Main Street Maryland selects communities who have made a commitment to succeed and helps them improve the economy, appearance and image of their traditional downtown business districts.
MANUFACTURING DISRUPTION MITIGATION ASSISTANCE PROGRAM (MDMAP)
MARYLAND ENERGY ADMINISTRATION
Manufacturers can potentially reduce the risk of business disruption from COVID-19 and other respiratory pathogens by improving facility airflow, filtration & ventilation. RMI's no-cost Manufacturing Disruption Mitigation Assistance Program (MDMAP) can help Maryland manufacturers with this process.
MARYLAND DEFENSE CYBERSECURITY ASSISTANCE PROGRAM
MARYLAND MANUFACTURING EXTENSION PARTNERSHIP
The Maryland Defense Cybersecurity Assistance Program (DCAP) provides education, resources, funding and assistance for Defense Contractors to comply with the DFARS and NIST 800-171 Standards for cybersecurity, as well as prepare for CMMC. DCAP is funded by Department of Defense’s Office of Local Defense Community Cooperation (OLDCC) through the Maryland Department of Commerce and is being coordinated by the Maryland MEP (MD MEP).
MARYLAND E-NNOVATION INITIATIVE FUND (MEIF)
MARYLAND DEPARTMENT OF COMMERCE
The Maryland E-Nnovation Initiative Fund (MEIF), administered by the Department of Business and Economic Development, offers a state match to private funds raised in support of endowed chairs at Maryland's higher education institutions.
MARYLAND HISTORIC REVITALIZATION TAX CREDIT PROGRAM
MARYLAND DEPARTMENT OF PLANNING
A refundable credit may be allowed for substantial expenditures incurred to rehabilitate certified structures in Maryland.
MARYLAND INDUSTRIAL DEVELOPMENT FINANCING AUTHORITY (MIDFA)
MARYLAND DEPARTMENT OF COMMERCE
MIDFA facilitates capital access by issuing private activity revenue bonds and can provide credit insurance in the form of a loan guaranty to reduce lender's risk.
MARYLAND INDUSTRIAL PARTNERSHIPS PROGRAM (MIPS)
MARYLAND DEPARTMENT OF COMMERCE
Maryland Industrial Partnerships (MIPS) promotes the development and commercialization of products and processes through industry/university research partnerships. MIPS provides matching funds to help Maryland companies pay for the university research. Projects are initiated by the companies to meet their own research and development goals.
MARYLAND INNOVATION INVESTMENT TAX CREDIT (IITC)
MARYLAND DEPARTMENT OF COMMERCE
IITC provides a refundable income tax credit to a qualified investor for an eligible investment made in a qualified Maryland technology company ("QMTC").
MARYLAND LOCAL FOOD COLD STORAGE RELIEF GRANT PROGRAM
MARYLAND AGRICULTURAL AND RESOURCE-BASED INDUSTRY DEVELOPMENT CORPORATION
The Local Food Cold Storage Grant Relief Program helps agricultural and rural food and horticultural business enterprises purchase the necessary cold storage equipment needed to continue to operate during and after the pandemic.
MARYLAND MOMENTUM FUND
UNIVERSITY SYSTEM OF MARYLAND
A pre-seed to late-seed stage investment fund, the Maryland Momentum Fund helps promising early-stage companies bridge from grant funding and angel investment to a Series A round of investment.
MARYLAND NONPROFIT DEVELOPMENT CENTER PROGRAM AND FUND - NONPROFIT, INTEREST-FREE, MICRO BRIDGE LOAN ACCOUNT (NIMBL)
MARYLAND DEPARTMENT OF COMMERCE
This interest-free, micro bridge loan program and fund supports the operations of nonprofit entities. The program is administered by the Maryland Nonprofit Development Center and the Maryland Department of Commerce ("Commerce").
MARYLAND OFFSHORE WIND WORKFORCE TRAINING PROGRAM
MARYLAND ENERGY ADMINISTRATION
The Program providesgrant funding on a competitive basis to support new or existing workforce training centersentering the offshore wind industry by offsetting their capital expenditure investments and/oroperating expenditures.
MARYLAND REGISTERED APPRENTICESHIP TAX CREDIT AND MARYLAND APPRENTICESHIP AND TRAINING PROGRAM (MATP)
MARYLAND DEPARTMENT OF LABOR
The Maryland Apprenticeship Tax Credit provides a State income tax credit to Registered Apprenticeship Sponsors or participating employers (Employer) which hire an eligible Registered Apprentice(s). The Employer may qualify for a $1,000 tax credit for each eligible Registered Apprentice.
MARYLAND REMOTE SETTING SHELLFISH AQUACULTURE FINANCING FUND
MARYLAND AGRICULTURAL AND RESOURCE-BASED INDUSTRY DEVELOPMENT CORPORATION
The Maryland Agricultural and Resource-Based Industry Development Corporation (MARBIDCO) is partnering with the Maryland Department of Natural Resources (DNR) and industry organizations to make affordable, subsidized loan financing available to commercial watermen and others wishing to start or expand shellfish remote setting aquaculture operations.
MARYLAND RESOURCE-BASED INDUSTRY FINANCING FUND LOAN (MRBIFF)
MARYLAND AGRICULTURAL AND RESOURCE-BASED INDUSTRY DEVELOPMENT CORPORATION
The MRBIFF program makes available low-interest loans to qualified applicants for the purchase of land and capital equipment. Commercial lender participation is required. MARBIDCO may provide up to a maximum of 40% of any financing needed for a project under the condition that a commercial lender (and/or a public instrumentality) has at least an equal financial commitment in the project.
MARYLAND SHELLFISH AQUACULTURE FINANCING FUND
MARYLAND AGRICULTURAL AND RESOURCE-BASED INDUSTRY DEVELOPMENT CORPORATION
The Maryland Agricultural and Resource-Based Industry Development Corporation (MARBIDCO) is partnering with the Maryland Department of Natural Resources (DNR) to help make affordable, subsidized loan financing available to commercial watermen.
The University of Maryland is also contributing to this important effort by making training and business planning assistance available to current and prospective commercial shellfish growers.
MARYLAND SUPPLY CHAIN RESILIENCY PROGRAM
STATE OF MARYLAND
The Maryland Supply Chain Resiliency Program assists Maryland manufacturers that have been adversely affected by COVID with impacts to operations, workforce and/or sales. The Maryland Supply Chain Resiliency Program will include a business assessment and review of a company’s business practices to better understand the impacts on the business and the opportunities to help overcome them.
MARYLAND TECHNOLOGY INTERNSHIP PROGRAM (MTIP)
STATE OF MARYLAND
Administered by UMBC and funded by the State of Maryland, the program offers financial assistance to technology-based businesses, as well as state and local agencies, to hire more interns.
MARYLAND TOWN MANAGER CIRCUIT RIDER GRANT PROGRAM
MARYLAND DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT
The Maryland Town Manager Circuit Rider Program provides grants to hire professional staff to work as a circuit rider to multiple towns assisting with specific municipal functions and activities.
MARYLAND URBAN AGRICULTURE COMMERCIAL LENDING INCENTIVE GRANT (MUACLIG)
MARYLAND AGRICULTURAL AND RESOURCE-BASED INDUSTRY DEVELOPMENT CORPORATION
MARBIDCO partnered with MidAtlantic Farm Credit to establish and manage a fund to offer grants for projects designed to help beginning urban farmers to start or improve their business operations.
MARYLAND VALUE ADDED PRODUCER MATCHING GRANT (MVAPMG - USDA OPTION)
MARYLAND AGRICULTURAL AND RESOURCE-BASED INDUSTRY DEVELOPMENT CORPORATION
The USDA Value Added Producer Grant Program, is offered annually and requires a non-federal financial matching commitment and each application for the MVAPMG must include a “verification of matching funds." MARBIDCO offers a grant of up to 15% of the USDA matching requirement.
MARYLAND VENTURE FUND (MVF)
MARYLAND TECHNOLOGY DEVELOPMENT CORPORATION (TEDCO)
TEDCO’s evergreen Venture Funds are dedicated to funding and growing the next generation of outstanding early-stage businesses in Maryland. We are an experienced team with significant operating and venture experience whose focus is on making the entrepreneurs successful.
MARYLAND VINEYARD/HOPYARD/ORCHARD PLANTING LOAN FUND
MARYLAND AGRICULTURAL AND RESOURCE-BASED INDUSTRY DEVELOPMENT CORPORATION
MARBIDCO provides low-cost financing services in conjunction with a private commercial lender to make financing both available and affordable. This program is supported by the Maryland Wineries Association and the Maryland Grape Growers Association.
MORE JOBS FOR MARYLANDERS INCENTIVE PROGRAM
MARYLAND DEPARTMENT OF COMMERCE
More Jobs for Marylanders, promotes the growth of manufacturing in Maryland by providing tax incentives for manufacturing job creation, encourages manufacturers to invest in new equipment through accelerated and bonus depreciation, and funds job training and apprenticeship programs to help strengthen Maryland's workforce. In 2019, the tax credit program was expanded to non-manufacturers that locate or expand in Opportunity Zones.
NEXT GENERATION FARMLAND ACQUISITION PROGRAM ("NEXT GEN PROGRAM")
MARYLAND AGRICULTURAL AND RESOURCE-BASED INDUSTRY DEVELOPMENT CORPORATION
The Next Generation Farmland Acquisition Program is available to help qualified young or beginning farmers who have trouble entering the agricultural profession, because of relatively high farmland costs and lack of access to adequate financial capital to purchase farmland.
OYSTER SHELL RECYCLING TAX CREDIT
MARYLAND DEPARTMENT OF NATURAL RESOURCES
An individual or corporation may claim a credit against the State income tax in an amount equal to $5 for each bushel of oyster shells recycled during the tax year. The credit may not exceed $1,500 per taxpayer.
REGIONAL INSTITUTION STRATEGIC ENTERPRISE (RISE) ZONE PROGRAM
MARYLAND DEPARTMENT OF COMMERCE
Qualified institutions and local governments develop a targeted strategy to use the institutional assets and financial incentives to attract businesses and create jobs within the zone. The program also incentivizes the location of innovative start-up businesses based on technology developed licensed or poised for commercialization at or in collaboration with qualified Maryland institutions.
RESEARCH AND DEVELOPMENT TAX CREDIT
MARYLAND DEPARTMENT OF COMMERCE
The Research and Development Tax Credit program provides income tax credits to businesses that invest in research and development in Maryland. The total amount of credits depends on the amount of eligible expenses incurred with a limit of $12 million for all businesses that apply with a small business set-aside of $3.5 million.
RESILIENCY HUB GRANT PROGRAM
MARYLAND ENERGY ADMINISTRATION
This program provides funding for the development and construction of solar plus energy storage systems to serve as “Resiliency Hubs.”
RESILIENT MARYLAND CAPITAL DEVELOPMENT PILOT PROGRAM
MARYLAND ENERGY ADMINISTRATION
The Maryland Capital Development (RMCD) Pilot Program builds on the Resilient Maryland Program that MEA began offering for feasibility analysis and other preconstruction planning activities for microgrids and other distributed energy resource (DER) systems that bolster the resilience of communities, facilities, and critical infrastructure sensitive to power disruption. The RMCD Pilot Program is a competitive grant program that provides equipment and installation funds to incentivize construction of microgrid that have completed feasibility analysis and overall due diligence that are at or very close to “shovel-ready.”
RESILIENT MARYLAND PROGRAM
MARYLAND ENERGY ADMINISTRATION
Resilient Maryland is a competitive grant program that provides funds to help offset the costs of analyzing, planning, and designing clean and resilient distributed energy resource (DER) systems such as microgrids and resiliency hubs for Maryland communities, critical infrastructure, underserved and unserved communities, businesses, and other organizations seeking highly-reliable, sustainable, and affordable energy.
RURAL BUSINESS ENERGY EFFICIENCY IMPROVEMENT LOAN FUND (RBEEIL)
MARYLAND AGRICULTURAL AND RESOURCE-BASED INDUSTRY DEVELOPMENT CORPORATION
In collaboration with the Maryland Energy Administration and using Regional Greenhouse Gas Initiative (RGGI) funds, MARBIDCO offers affordable financing for projects to improve energy efficiency in food and fiber businesses. This program offers a low-interest, “micro” loan to enable farmers and rural-based industry business owners to implement recommendations of a third-party energy auditor.
SALES AND USE TAX EXEMPTION FOR CONTRACTORS
COMPTROLLER OF MARYLAND
A contractor may use an organization's exemption certificate to purchase materials that will be used to construct, improve, alter or repair the real property of private, nonprofit charitable, educational, and religious organizations; volunteer fire companies and rescue squads; and nonprofit cemeteries.
SALES AND USE TAX EXEMPTION FOR FILM PRODUCTION
MARYLAND DEPARTMENT OF COMMERCE
An exemption from the 6% state sales and use tax is available to qualified feature, television, cable, commercial, documentary, music video, etc, projects.
SALES AND USE TAX EXEMPTION FOR PRODUCTION ACTIVITIES, MACHINERY, AND EQUIPMENT
COMPTROLLER OF MARYLAND
The Maryland sales and use tax does not apply to sales of machinery and equipment used in production activities, sales of tangible personal property for consumption in production activities, or sales of tangible personal property for resale or incorporation as a material or part of other tangible personal property produced for sale.
SALES AND USE TAX EXEMPTION FOR PURCHASES FOR RESEARCH AND DEVELOPMENT
COMPTROLLER OF MARYLAND
The Maryland sales and use tax does not apply to "research and development" which means basic and applied research in the sciences and engineering as well as the design, development, and governmentally mandated pre-market testing of prototypes, products, and processes.
SEAFOOD HARVESTING EQUIPMENT SALES AND USE TAX EXEMPTION
COMPTROLLER OF MARYLAND
The state offers sales and use tax exemptions for seafood or marine harvesting purposes.
SEED FUNDS
MARYLAND TECHNOLOGY DEVELOPMENT CORPORATION (TEDCO)
TEDCO’s Seed Funds are invested in companies that show promise of becoming venture fundable companies or are companies that, through a seed investment, will be sustainable through customer revenue, follow-on funding, or other forms of corporate venture.
SMALL ACREAGE NEXT GENERATION ("SANG") PROGRAM
MARYLAND AGRICULTURAL AND RESOURCE-BASED DEVELOPMENT CORPORATION
The Small Acreage Next Generation Program (SANG) is available to help qualified young or beginning farmers who have trouble entering the agricultural profession, because of relatively high farmland costs and lack of access to adequate financial capital, to purchase smaller farmland properties that are between 10 to 49 acres.
SMALL, MINORITY-OWNED BUSINESS SPORTS WAGERING ASSISTANCE FUND (SWAF)
DEPARTMENT OF COMMERCE
The Sports Wagering Assistance Fund is used to provide grants or loans to small, minority-owned or women-owned businesses entering the sports wagering market.
TECH TRANSFER
MARYLAND TECHNOLOGY DEVELOPMENT CORPORATION (TEDCO)
Moving innovations from the research lab to the commercial sector to create new ventures and to make new products and cures available to the public.
THE SOUTHERN MARYLAND AGRICULTURAL EQUITY INCENTIVE MATCHING FUND AND REVOLVING LOAN PROGRAM FOR AGRICULTURE PRODUCERS
MARYLAND AGRICULTURAL AND RESOURCE-BASED INDUSTRY DEVELOPMENT CORPORATION
The Southern Maryland Revolving Loan Fund for Agriculture has been established by the Southern Maryland Agricultural Development Commission (SMADC, a division of the Tri-County Council for Southern Maryland) and the Maryland Agricultural and Resource-Based Industry Development Corporation (MARBIDCO) to help assist agricultural producers in Anne Arundel, Calvert, Charles, Prince George’s and St. Mary’s Counties with smaller agricultural projects that typically might not be financed by traditional commercial lenders.
UPPER SHORE REGION AGRICULTURAL LOAN EQUITY INCENTIVE MATCHING FUND
MARYLAND AGRICULTURAL AND RESOURCE-BASED INDUSTRY DEVELOPMENT CORPORATION
This effort is designed to incentivize loan requests from Upper Shore farmers, and to help them meet certain down-payment (equity) requirements of lenders in order to help improve the credit quality of their applications.
Massachusetts
CERTIFIED HOUSING DEVELOPMENT TAX CREDIT (CHDC)
MASSACHUSETTS DEPARTMENT OF REVENUE
The CHDC may be available to personal income tax or corporate excise taxpayers that invest in housing development projects in Massachusetts.
Eligibility Requirements
The credit is allowed only:
- For the tax year of the completed project
- After the DHCD notifies the Department of Revenue (DOR) that the development project is completed
Expenditures are applicable to the credit only if the date of expenditures were:
- Put into writing by the DHCD and
- Sent to the DOR
Contact Information
Massachusetts Department of Revenue
100 Cambridge Street
Boston, MA 02114
Phone: 617-887-6367
Additional information available from the Massachusetts Department of Revenue.
CLEAN ENERGY INCENTIVES
MASSACHUSETTS CLEAN ENERGY CENTER
There are some easy steps you can take to save energy and cut costs at your business. From adjusting your thermostat down a few degrees to applying for grants and rebates on energy saving technologies, Massachusetts business owners have a lot of choices.
Eligibility & Application Requirements
Eligibility is dependent on the specific program. Program specific application information can be found on the program website.
Contact Information
Rachel Ackerman
Massachusetts Clean Energy Center
63 Franklin Street
Boston, MA 02110
Phone: 617-315-9326
[email protected]
Additional information available from the Massachusetts Clean Energy Center.
COMMERCIAL REAL ESTATE LOAN
MASSDEVELOPMENT
MassDevelopment provides direct loans and partners with banks to provide loan participations and loan guarantees to manufacturers, commercial/industrial businesses, developers, and nonprofit organizations. Loans are available for all stages of a project, from predevelopment needs to permanent real estate financing.
Eligibility Requirements
Contact Mass Development for more details.
Application Information
Real Estate Loans are limited to a maximum amount of $10 million. There is a $250 application fee due upon application submission. The fee is applied toward the commitment fee at the time of commitment. It is refundable if MassDevelopment does not approve the loan. MassDevelopment's legal fees and other expenses are due at closing unless otherwise agreed upon. A one-time commitment fee of 1.0% of the loan will apply.
Additional information available from the MassDevelopment.
COMMUNITY INVESTMENT TAX CREDIT (CITC)
MASS DEPARTMENT OF REVENUE
A refundable tax credit for taxpayers and businesses that make cash contributions to investment projects.
Eligibility & Application Requirements
The CITC is allowed for contributions of $1,000 or more. The total of all credits available to an eligible taxpayer may not exceed $1,000,000 in any tax year. Please refer to the program website.
Additional information available from the Mass Department of Revenue.
DIVERSITY PROGRAMS
MASSACHUSETTS GROWTH CAPITAL CORPORATION
The Massachusetts Growth Capital Corporation Diversity Programs provide flexible financing for businesses owned and operated by women, minority, and veteran small business owners.
Eligibility & Application Requirements
Please contact the Corporation regarding any questions of eligibility.
Please contact the program administrator to apply.
Massachusetts Growth Capital Corporation
Schrafft’s City Center 529 Main Street, Suite 201
Charlestown, MA, MA 02129
Phone: 617-523-6262
[email protected]
Additional information available from the Massachusetts Growth Capital Corporation.
ECONOMIC DEVELOPMENT INCENTIVE PROGRAM CREDIT
DEPARTMENT OF HOUSING AND ECONOMIC DEVELOPMENT
The Economic Development Incentive Program Credit provides a credit to participating businesses that create jobs and invest in Massachusetts. The EDIPC was designed to stimulate job creation in distressed areas, attract new businesses, encourage business expansion, and increase overall economic development in Massachusetts.
Eligibility Requirements
To be eligible to claim the EDIPC, individual taxpayers, partnerships, and corporations must:
- Apply to the EACC and
- Have a business designated as a certified project or a certified job creation project.
As part of its approval process, the EACC determines
- What percentage of the cost of its qualifying property the taxpayer may claim each year
- The dollar amount awarded for each job created and
- Whether the credit is refundable.
Such businesses may earn a credit for qualifying tangible properties, which include:
- Tangible personal property
- Other tangible property, including:
- Buildings
- Structural components of buildings acquired by purchase.
During the tax year, the qualifying tangible properties must have been:
- Acquired
- Constructed
- Reconstructed, or
- Erected.
Moreover, qualifying property is subject to the following requirements:
- Cannot be a motor vehicle
- Must either be depreciable property with a useful life of 4 years or recovery property and
- Real estate cannot be purchased from closely-related parties.
A business may not take the EDIPC for the property already claimed for the investment tax credit or the low income housing credit.
The EDIPC is available to lessees for lease payments for real estate and tangible personal property.
The credit is not available to lessors.
Application Information
To apply for the EDIP investment tax credit, an applicant must submit:
- Letter of Intent: An applicant must submit a letter of intent to the municipality of interest and the municipality's MOBD Regional Director. The letter of intent should be sent at the earliest possible date.
- Preliminary Application (Round 1): To apply to the EDIP, submit a preliminary application by the posted deadline to be considered at the corresponding EACC meeting. MOBD will review the application and ensure that the applicant meets the eligibility requirements of the EDIP.
- Supplemental Application (Round 2): Qualified applicants may receive a Supplemental Application for consideration by the EACC. If an applicant receives a Supplemental Application, submit it by the posted deadline for consideration at the corresponding EACC meeting.
Additional information available from the Mass Department of Revenue.
EQUIPMENT LOANS
MASSDEVELOPMENT
Equipment Loans may be used to finance up to $3,000,000 in new or used equipment.
Eligibility Requirements
Contact Mass Development for details.
Application Information
There is a $250 application fee due upon application submission. The fee is applied toward the commitment fee at the time of commitment. It is refundable if MassDevelopment does not approve the loan. A 1% fee based on the total principal amount of the loan is due at the time of commitment. MassDevelopment's legal fees and other expenses are due at closing unless otherwise agreed upon. Application available online.
Additional information available from MassDevelopment.
INVESTMENT TAX CREDIT (ITC)
MASSACHUSETTS DEPARTMENT OF REVENUE
A manufacturing corporation, a business corporation engaged primarily in research and development, or a corporation primarily engaged in agriculture or commercial fishing, shall be allowed a credit as provided against its excise due. The amount of such credit shall be three percent of the cost or other basis for federal income tax purposes of qualifying tangible property acquired, constructed, reconstructed, or erected during the taxable year, after deduction therefrom of any federally authorized tax credit taken with respect to such property.
Eligibility Requirements
To qualify, a corporation must be defined under Massachusetts law as a:
- Manufacturing corporation
- Research and development corporation
- Corporation primarily engaged in agriculture, or
- Corporation primarily engaged in commercial fishing.
The ITC may not reduce the corporate excise due below $456. The maximum amount of credits, otherwise allowable to a corporation in any taxable year, may not exceed 50% of its excise.
Any unused credit may be carried forward for 3 tax years after the credit was earned.
The ITC may be recaptured if the eligible property for which the ITC:
- Is disposed of, or
- Ceases to be in qualified use prior to the end of its useful life.
- The useful life is equal to the property depreciation period for federal tax purposes.
Application Information
Contact the Massachusetts Office of Business Development for details:
Executive Office of Housing and Economic Development
Massachusetts Office of Business Development
136 Blackstone Street, 5th floor
Boston, MA 02109
Phone: 617-973-8600
Additional information available from the Massachusetts Department of Revenue.
MASSACHUSETTS MANUFACTURING INNOVATION INITIATIVE (M2I2)
MASSACHUSETTS TECHNOLOGY COLLABORATIVE
The Massachusetts Manufacturing Innovation Initiative (M2I2) provides capital cost shares for projects and discovery centers located within the state, as part of on-going commitment to the Manufacturing USA program put forth by the federal government.
Eligibility Requirements
Eligible projects are those with direct impact within the borders of the Commonwealth. The capital must be installed within the borders of the Commonwealth. Applicants must be eligible for project support from a Manufacturing USA Institute. This support generally requires membership in the Institute. The applicant also must have, or plan to have, operations in Massachusetts.
Additionally, all applicants must be an institution of higher education in Massachusetts or have a partnership with an institution of higher education located in Massachusetts.
Application Information
The application may be filled out and submitted to the Innovation Institute at MassTech on a rolling basis. Applications will be reviewed at least quarterly.
Additional information available from the Massachusetts Technology Collaborative.
MASSACHUSETTS SMALL BUSINESS DEVELOPMENT CENTER NETWORK
MASSACHUSETTS OFFICE OF BUSINESS DEVELOPMENT AND U-MASS AMHERST
The Massachusetts Small Business Development Center Network provides free and confidential one-to-one business advice to prospective and existing small businesses focusing on, business growth and strategies, financing and loan assistance as well as strategic, marketing and operational analysis. In addition, low-cost educational training programs are offered across the state targeted to the needs of small business.
Eligibility Requirements
All SBA-definition small businesses are eligible for services.
Application Information
All SBA-definition small businesses may apply for services. Please fill out the Request for Counseling form to beign the process.
Additional information available from the U-Mass Amherst.
MASSECON
MASSECON
MassEcon provides site selection, research and information, and networking opportunities to facilitate the expansion of companies into Massachusetts. Working with public sector partners, MassEcon brings a private sector voice to marketing Massachusetts as a place to do business. Its leaders served on the Governor Economic Development Council, and its ambassadors, a network of business executives throughout the state, serve as peer resources for companies considering Massachusetts as an expansion location.
Eligibility Requirements
Any business seeking to locate in Massachusetts.
Contact Information
Doug Kehlhem
Office of Business Development
MassEcon
101 Walnut Street
Watertown, MA 02472
Phone: 617-924-4600 x112
[email protected]
Additional information available from MassEcon.
MASSTECH INTERN PARTNERSHIP
MASSACHUSETTS TECHNOLOGY COLLABORATIVE
The MassTech Intern Partnership (MTIP) program provides stipends to digital technology companies that are starting and scaling-up across Massachusetts to directly support internships for Massachusetts college and graduate students.
Eligibility Requirements
In order to be eligible to participate, companies must meet the following criteria:
- For two interns; be in the Massachusetts digital technology sector;
- For three interns; be in a priority focus area. Priority focus areas for 2022 include: Cybersecurity, Digital Health, Fintech, Quantum Technology, and Robotics;
- Be headquartered and have operations in Massachusetts;
- Have less than 250 employees globally;
- Hire an eligible summer intern to work in Massachusetts; and
- Treat their interns as employees of the company and not contractors or subcontractors, and pay interns as W-2 employees with required payroll withholdings.
Eligible student interns for the MTIP summer program MUST meet ONE of the following criteria:
- A Massachusetts resident currently enrolled at or a recent graduate of a two- or four-year college or university (Class of 2022 or later);
- A student currently enrolled at or a recent graduate of a Massachusetts two- or four-year college or university (Class of 2022 or later); or
- A graduate student or recent advanced degree recipient who is a Massachusetts resident or who is enrolled at a Massachusetts graduate school. Recent graduates must have completed their advanced degree program in 2022 or 2023.
MTIP summer interns may NOT be:
- Anyone who is the spouse, child, grandchild, sibling, niece, nephew, or spouse of a child, grandchild, sibling, niece, or nephew of ANY employee of the company;
- Anyone whose internship is supported by another state-sponsored program during the period covered by the MassTech program; and/or
- Anyone who is a current or former full- or part-time employee of the company. Former paid or unpaid interns of the company are eligible.
Application Information
Review the Eligibility Guidelines before beginning the MTIP internship stipend application.
Apply to the program by completing the online application. Applications will be reviewed to confirm company and student eligibility. If approved, applicants will receive email notification with next steps. Prior to the start of the internship, the company will need to complete and submit the Intern Sponsorship Agreement.
Additional information available from the Massachusetts Technology Collaborative.
MORTGAGE INSURANCE GUARANTEE
MASSDEVELOPMENT
MassDevelopment can provide a guarantee on a portion of a bank real estate loan or tax-exempt bond. The guarantee covers the difference between the maximum allowable loan advance rate of a bank and up to 100% of the property value, thereby increasing the amount of financing available to a business.
Eligibility Requirements
Guarantees are also available for charter school loans, tax-exempt bonds, loans to companies that export products to international markets, and working capital loans to manufacturers.
Application Information
To apply, please contact Mass Development and visit the website for specific application materials. A copy of the bank's credit approval package and $250 application fee is required.
Additional information available from MassDevelopment.
PREDEVELOPMENT LOANS
MASSDEVELOPMENT
This program provides loans to finance early stage project costs. Predevelopment loans can be used to finance early-stage real estate project costs, such as architectural and engineering work or traffic and feasibility studies necessary to advance a project to the construction stage. Our predevelopment loan program offers loans up to $500,000 and deferred interest payments. Loans are secured by a first or second mortgage on the subject property.
Eligibility & Application Requirements:
Please contact Mass Development for more information.
Additional information available from MassDevelopment.
PROPERTY ASSESSED CLEAN ENERGY (PACE)
MASSDEVELOPMENT
The Property Assessed Clean Energy (PACE) program provides financing for energy upgrades on a property with longer payback periods.
Eligibility Requirements
Owners of commercial and industrial buildings, owners of multifamily properties with five-plus units, and nonprofit organizations that own buildings.
Application Information
Interested property owners can submit a completed PACE Massachusetts application detailing the type of energy improvement project they want to undertake – and demonstrating that the energy savings from the project will be greater than the cost (a requirement of the program). Applicants should choose a capital provider such as a bank or a PACE lender, to fund the project and to help finalize the application package. MassDevelopment can assist property owners with identifying funding options. Contact [email protected].
Additional information available from MassDevelopment.
REPLENISHING EMPLOYER INVESTMENT IN EDUCATION & WORKFORCE TRAINING (RENEW) DEMONSTRATION GRANT
COMMONWEALTH CORPORATION
The RENEW Fund will support education and training models that retrain unemployed individuals who are then hired by employers.
Eligibility & Application Requirements
Please see the website for eligibility and application details.
Additional information available from the Commonwealth Corporation.
RESEARCH AND DEVELOPMENT TAX CREDIT
EXECUTIVE OFFICE OF HOUSING AND ECONOMIC DEVELOPMENT
Massachusetts offers a tax incentive for research and development investment. The R&D tax credit closely resembles the federal credit program, however, it specifically offers qualifying Massachusetts companies many unique features for doing business in Massachusetts.
Eligibility Requirements
The R&D tax credit is available to any foreign or domestic corporation subject to the corporate excise under Chapter 63 Massachusetts Law.
Generally, Massachusetts qualified research expenses include:
- Wages paid to employees
- A portion of wages paid to contractors
- Amounts paid for supplies.
The credit is only applicable if:
- The services were performed for research purposes and
- The supplies were used to conduct research in Massachusetts.
Application Information
Application information available online. Apply through corporate business tax filing.
Additional information available from the Mass Department of Revenue.
SINGLE SALES FACTOR
EXECUTIVE OFFICE OF HOUSING AND ECONOMIC DEVELOPMENT
Massachusetts' Single Sales Factor tax apportionment significantly reduces the tax burden for manufacturers and qualifying defense contractors and financial service providers who have multi-state tax filing.
Eligibility Requirements
The Single Sales Factor may apply to the following types of companies that have multi-state tax filings:
- Manufacturing companies
- Qualifying defense contractors
- Qualifying financial service providers
Application Information
Contact the Massachusetts Office of Business Development for details:
Meggie Quackenbush
Executive Office of Economic Development
Massachusetts Office of Business Development
1 Ashburton Place Room 2101
Boston, MA 02108
Phone: (617) 788-3610
Fax: (617) 788-3605
[email protected]
Additional information available from the Executive Office of Housing and Economic Development.
SMALL BUSINESS ENERGY EXEMPTION
MASS DEPARTMENT OF REVENUE
Administered by the Massachusetts DOR, qualifying small businesses may be exempt from paying taxes on energy.
Eligibility Requirements
A qualifying small business must have had gross income of less than $1,000,000 in the prior year and anticipate less than $1,000,000 in the current year. The business must also have 5 or fewer full-time employees and the energy product must be used only by the qualifying business.
Application Information
- Log in to MassTaxConnect (state.ma.us)
- Select “More” tab
- Select “Request or Update Small Business Energy Exemption”
Additional information available from the Mass Department of Revenue.
SMALL BUSINESS LENDING
MASSACHUSETTS GROWTH CAPITAL CORPORATION
Small business lending programs support small businesses access capital.
Eligibility Requirements
MGCC does not fund real estate, start ups and illegal businesses. The business must be headquartered in Massachusetts to qualify.
Application Information
Contact MGCC for more information. Application requirements vary based on loan amount. Refer to the application site for detailed requirements and forms.
Additional information available from the Massachusetts Growth Capital Corporation.
TAX EXEMPT BONDS
MASSDEVELOPMENT
MassDevelopment can issue taxable bonds for a variety of purposes including advance refundings, capital projects that are ineligible for tax-exempt financing, and as a tail in a tax-exempt financing if the needs of the borrower exceed its eligibility to issue tax-exempt bonds.
Eligibility Requirements
Projects eligible for tax-exempt financing in Massachusetts include:
- 501(c)3 nonprofit real estate and equipment
- Affordable rental housing
- Assisted living and long-term care facilities
- Public infrastructure projects
- Manufacturing facilities and equipment
- Municipal and governmental projects
- Solid waste recovery and recycling projects
Application Information
A $750 nonrefundable application fee is due upon application submission. Various issuance fees depending on the company and the amount financed are due at closing.
See the website for industry specific applications.
Additional information available from MassDevelopment.
WORKFORCE TRAINING FUND PROGRAM (WTFP) GENERAL PROGRAM
COMMONWEALTH CORPORATION
The mission of the Workforce Training Fund is to provide applicants with the resources to invest in the Massachusetts workforce, improve employee skills, and maintain the economic strength and viability of Commonwealth businesses. The major focus is on small- to medium-sized businesses that would not be able to make this investment without the assistance of the Fund.
Eligibility Requirements
- Companies of any size may apply.
- Only organizations that contribute to the Workforce Training Fund are eligible to take part in WTFP grant programs. (Please Note: All private, for-profit employers that are required to contribute to the Unemployment Insurance Trust Fund in Massachusetts contribute to the Workforce Training Fund as do some non-profits. Non-profits that select the contributory method to finance Unemployment Insurance are eligible. Non-profits that select the reimbursable method are paying a discounted rate that does not include contribution to the WTFP and therefore are not eligible. No federal, state, or local government entities contribute and therefore are not eligible to take part in any grant funded training.)
- A copy of a Certificate of Good Standing from the Massachusetts Department of Revenue that is less than 6 months old must be provided by applicants prior to being considered for a grant. In the case of a consortium application, any company with employees to be trained must also provide the certificate before an application will be considered.
- Applicants must also be in full compliance with all obligations to the Department of Unemployment Assistance, Department of Industrial Accidents, and any other obligations to the Commonwealth of Massachusetts.
- Applicants or their training providers who have been debarred from doing business with the Commonwealth of Massachusetts or the Federal Government are not eligible to participate in Workforce Training Fund Programs.
- Companies must be in operation, with employees, long enough to have at least two full years of financial statements available for review to be considered for a grant.
- Companies must be financially viable to be eligible for a grant. Upon request, applicants must be able to demonstrate to the satisfaction of reviewers that the business is expected to operate as a going concern (e.g., company is expected to continue operating for a period of time that is sufficient to carry out its commitments, obligations, and objectives) throughout the life of a grant. Credit risk assessment may be considered in determining if a company is a viable applicant. The two most recently completed years of company Financial Statements may be required.
- Previous General Program award recipients will not be considered for new grants until one year has elapsed from the close of a prior General Program training grant.
- WTFP policy prohibits General Program funding for topics that were addressed in a prior grant, until five years has passed since the closeout of the last grant.
Application Information
General Program applications are accepted and reviewed on a rolling basis throughout the year. In most cases, applicants will be notified of application outcomes within 60 days from submission of a complete application. General Program Training Grant recipients will not be eligible to apply for new grants until the one year waiting period has elapsed from the end of the last grant.
Please see the application page for more details.
Additional information available from the Commonwealth Corporation.
WORKFORCE TRAINING FUND (WTF) EXPRESS PROGRAM
COMMONWEALTH CORPORATION
The Workforce Training Fund Express Program assists companies with 100 or fewer employees to address their employee training needs through a list of pre-registered courses.
Eligibility Requirements
Businesses with 100 or fewer employees that contribute to the Workforce Training Fund are eligible to apply for an Express Grant. All for-profit companies automatically pay into the fund. Non-profit organizations should contact the authority to find out if they are eligible. Government agencies are not eligible to apply.
Training providers are required to meet the following standards:
- The company has 100 or fewer employees working in Massachusetts.
- The total amount of funding requested does not exceed $30,000.
- The amount of funding requested per trainee per course does not exceed $3,000.
- The company agrees to pay for at least half of the total cost of the approved training.
- All of the employees to be trained using grant funding are payroll employees who work in Massachusetts.
- The proposed training is job-related skills training.
- The company is not legally mandated to provide the proposed training to employees.
Application Information
- Applicants should submit an online application at least 4 weeks in advance of the desired training start date.
- Using the Express Course Directory, identify the Training Provider and Course identification number. This is required for the online application. You are encouraged to research the applicable training provider/course to learn about its reputation, cost and course availability prior to submitting an application.
- Upload a Department of Revenue Certificate of Good Standing (COGS) to your application. Your application will be denied if the incorrect document is uploaded.
- Upon your submission, you will receive a confirmation email with a copy of your completed application for your records.
- Within 3-4 weeks of your submission, you will receive an agreement from Commonwealth Corporation containing the approved start date and authorized reimbursement amount.
- You must sign and return the Agreement prior to the start of training. You will not be reimbursed for any training that begins prior to the date of the Agreement, or prior to returning a signed Agreement.
- At the conclusion of the training course and once you have fully paid for the course, you will submit a Reimbursement Request, along with a copy of an invoice from the training provider and proof that you have paid the provider for the approved course(s).
- Reimbursement Requests will be paid within 30 days of receipt of all required documentation.
Additional information available from the Commonwealth Corporation.
ADVANCED ANALYTICS-DATA SCIENCE INTERNSHIP PROGRAM
MASSACHUSETTS LIFE SCIENCES CENTER
The program will create internship opportunities for qualified candidates at the Bachelor, Master, and Doctoral levels by enabling research institutions and companies to hire paid interns for up to six months.
AMPLIFYMASS
MASSACHUSETTS CLEAN ENERGY CENTER
Provides grants to Massachusetts-based companies and university teams receiving federal and other sources of funding for clean energy related efforts. The program supports research and development in the Commonwealth across a broad set of recipients for different clean energy and water technologies and attract federal and other sources of funding into the state.
ANGEL INVESTOR TAX CREDIT
MASSACHUSETTS LIFE SCIENCES CENTER
The Angel Investor Tax Credit program is offered to investors interested in funding early-stage companies engaged in life sciences research and development, commercialization and manufacturing in Massachusetts. The program provides a taxpayer investor a credit of 20% of the qualifying investment, or 30% if the business is located in a gateway municipality, in a business that has no more than $500,000 in gross revenues in the year prior to eligibility.
BITS TO BYTES
MASSACHUSETTS LIFE SCIENCES CENTER
The MLSC launched Bits to Bytes to provide grants for capital projects that generate and analyze large datasets to answer pressing life science questions, and to attract and train data scientists in the Commonwealth.
BROWNFIELDS REMEDIATION LOAN PROGRAM
MASSDEVELOPMENT
The Brownfields Remediation Loan Program offers flexible loans up to $750,000 for environmental cleanup of brownfields.
BROWNFIELDS SITE ASSESSMENT LOAN PROGRAM
MASSDEVELOPMENT
The Brownfields Site Assessment Program provides unsecured, interest-free financing up to $250,000 for environmental assessment of brownfields.
BROWNFIELDS TAX CREDIT PROGRAM
MASS DEPARTMENT OF REVENUE
The Brownfields Tax Credit (BTC) provides a tax credit to individual taxpayers, non-profit organizations, and business corporations that clean up contaminated property in Massachusetts.
CATALYST PROGRAM
MASSACHUSETTS CLEAN ENERGY CENTER
The MassCEC Catalyst Program, which is funded by MassCEC and managed by the Massachusetts Technology Transfer Center (MTTC), awards early-stage researchers grant awards up to $75,000 to help demonstrate the commercial viability of their clean energy technology.
COLLABORATIVE RESEARCH MATCHING GRANT PROGRAM
OFFICE OF HOUSING AND ECONOMIC DEVELOPMENT
The Collaborative Research Matching Grant Program provides investments to support R&D partnerships that bring together world-class research institutions and class-leading companies in the form of a matching grant for capital expenditures.
COLLABORATIVE WORKSPACE PROGRAM
MASSDEVELOPMENT AND THE OFFICE OF HOUSING AND ECONOMIC DEVELOPMENT
The Collaborative Workspace Program supports collaborative workspaces and makerspaces that encourage new business formation, job creation, and entrepreneurial activity in communities.
COMMONWEALTH HYDROPOWER
MASSACHUSETTS CLEAN ENERGY CENTER
The Commonwealth Hydropower Program seeks to increase the output of Commonwealth hydropower assets by providing grants for ecologically-appropriate projects that can be implemented quickly and efficiently.
COMMUNITY HEALTH CENTER GRANT PROGRAM
MASSDEVELOPMENT
The program helps support community health centers and the important services that they deliver to residents of the Commonwealth by providing grants of up to $50,000 to fund facility upgrades including construction, renovation, equipment, furniture, and technology-related projects (including training).
DAIRY FARMER TAX CREDIT
MASS DEPARTMENT OF REVENUE
Massachusetts dairy farmers may be eligible for a tax credit against Massachusetts income tax or corporate excise liability.
EMERGING TECHNOLOGY FUND
MASSDEVELOPMENT
The Emerging Technology Fund (ETF) provides loans and guarantees for facilities and specialized equipment for technology companies for acquisition, expansion, working capital, or equipment purchases. MassDevelopment works with companies located in or relocating to Massachusetts that have strong management teams, demonstrated technical developments, shown market demand for their products, and proven financial records.
EXPEDITED LOCAL PERMITTING
EXECUTIVE OFFICE OF HOUSING AND ECONOMIC DEVELOPMENT
This program offers communities a tool to promote targeted economic and housing development. It guarantees local permitting decisions on priority development sites within 180 days and increases visibility of your community and target development site(s).
EXPORT FINANCING
MASSDEVELOPMENT
MassDevelopment offers several programs, including loans, guarantees, and financing, to help companies that export or anticipate exporting products or services internationally.
HARBOR MAINTENANCE TAX CREDIT
MASS DEPARTMENT OF REVENUE
The Harbor Maintenance Tax Credit may be available to corporate excise taxpayers who paid the federal harbor maintenance tax (HMT). The HMT is a federal tax on the use of ports in Massachusetts.
HIGH SCHOOL APPRENTICESHIP CHALLENGE
MASSACHUSETTS LIFE SCIENCES CENTER
The High School Apprenticeship Challenge creates over 100 internship opportunities for high school students each year by subsidizing intern stipends for small life sciences companies and academic researchers to enable them to hire paid interns.
HISTORIC REHABILITATION TAX CREDIT
MASSACHUSETTS HISTORICAL COMMISSION
A historic rehabilitation tax (HRT) credit may be available to qualifying personal income or corporate excise taxpayers that have expenditures from the rehabilitation of a historic structure.
INCUBATEMASS
MASSACHUSETTS CLEAN ENERGY CENTER
Since 2013, IncubateMass has provided funding to Massachusetts incubators with the goal of growing the clean energy innovation ecosystem and commercializing cleantech startups through incubator membership. This funding supports incubator activities such as build-out of facilities or infrastructure equipment purchases networking events and workshops growing strategic clusters professional development of incubator staff. Grants are up to $175,000 per year and award payments are typically tied to incubator management deliverables and startup member milestones.
INFRASTRUCTURE FINANCING
MASSDEVELOPMENT
MassDevelopment offers three unique financing programs designed to support public infrastructure projects. The programs can be used independently, or in combination, and involve the establishment of an identified development/redevelopment district to finance infrastructure that will spur real estate development that may not otherwise occur.
INFRASTRUCTURE INVESTMENT INCENTIVE PROGRAM (I-CUBED)
EXECUTIVE OFFICE FOR ADMINISTRATION AND FINANCE
The Infrastructure Investment Incentive Program (“I-Cubed”) is an innovative public-private partnership created to spur economic development and job growth in the Commonwealth through support for large-scale private real estate development projects with significant new public infrastructure requirements estimated to be in the range of $5 million to $50 million.
INNOVATEMASS
MASSACHUSETTS CLEAN ENERGY CENTER
InnovateMass program funding helps companies and their technologies move closer to commercialization, signaling to the marketplace that the technology is approaching readiness for manufacturing and sales.
INTERNSHIP CHALLENGE PROGRAM
MASSACHUSETTS LIFE SCIENCES CENTER
The Internship Challenge is a workforce development program focused on enhancing the talent pipeline for Massachusetts companies engaged in the life sciences. The MLSC reimburses eligible companies for intern stipends.
LIFE SCIENCES TAX INCENTIVE PROGRAM
MASSACHUSETTS LIFE SCIENCES CENTER
The Life Sciences Tax Incentive Program is a set of nine different tax incentives which address the significant expenditures associated with the life sciences R&D cycle and the high costs of translating research into commercially viable products.
MASSACHUSETTS CLEAN ENERGY INTERNSHIP PROGRAM
MASSACHUSETTS CLEAN ENERGY CENTER
The Massachusetts Clean Energy Internship Program is a workforce development initiative offered through the Massachusetts Clean Energy Center (MassCEC) which focuses on enhancing the talent pipeline for Massachusetts employers engaged in the clean energy industry.
MASSACHUSETTS CULTURAL FACILITIES FUND
MASSDEVELOPMENT
The Cultural Facilities Fund is an initiative to increase public and private investment in cultural facilities throughout the state. The program is administered jointly with the Massachusetts Cultural Council for 501(c)(3) organizations engaged in the arts, humanities, or interpretive sciences. The Fund offers grants to help nonprofit cultural organizations plan for, renovate, expand, and repair their facilities.
MASSACHUSETTS NEXT GENERATION INITIATIVE
MASSACHUSETTS LIFE SCIENCES CENTER
The Massachusetts Next Generation Initiative provides a year long customized package of support which includes non-dilutive grant funding and access to a network of seasoned professionals from the life sciences ecosystem to refine their business strategies and effectively raise capital.
MASSACHUSETTS TRANSITION AND GROWTH PROGRAM
MASSACHUSETTS LIFE SCIENCES CENTER
The Massachusetts Transition and Growth Program (MassTAG) is a recruitment tool targeting life sciences companies considering their first presence in Massachusetts.
MASSACHUSETTS WORKFORCE SKILLS CAPITAL GRANT PROGRAM
EXECUTIVE OFFICE OF LABOR AND WORKFORCE
The Skills Capital Grant Program will award grants for the purchase and installation of equipment and related improvements and renovations necessary for installation and use of such equipment to support vocational and technical training. The program facilitates collaboration to provide students training pathways to career opportunities in high-skill, high-demand industry sectors.
MASSCEC INVESTMENTS PROGRAM
MASSACHUSETTS CLEAN ENERGY CENTER
Through our 2030 Fund, MassCEC invests at the earliest stages of company development across the climatetech landscape. With a focus on tough technologies and underserved sectors, MassCEC investments, through the 2030 Fund, aims to advance clean technology, fill funding gaps, create green jobs, and leverage private capital throughout the Commonwealth.
MASSWORKS INFRASTRUCTURE PROGRAM
EXECUTIVE OFFICE OF HOUSING AND ECONOMIC DEVELOPMENT
The MassWorks Infrastructure Program is a competitive grant program that provides the largest and most flexible source of capital funds to municipalities and other eligible public entities primarily for public infrastructure projects that support and accelerate housing production, spur private development, and create jobs throughout the Commonwealth.
MEDICAL DEVICE TAX CREDIT
MASS DEPARTMENT OF REVENUE
The medical device tax credit may be available to a qualifying medical device company taxable under the personal income tax or corporate excise.
MOTION PICTURE TAX INCENTIVES
MASSACHUSETTS FILM OFFICE
Massachusetts provides filmmakers with a highly competitive package of tax incentives: a 25% production credit, a 25% payroll credit, and a sales tax exemption.
REGIONAL ECONOMIC DEVELOPMENT ORGANIZATION GRANT PROGRAM/strong>
OFFICE OF BUSINESS DEVELOPMENT
The Regional Economic Development Organization Grant Program provides funding to non-profit economic development organizations that nurture and facilitate economic growth and prosperity in the Commonwealth through business growth.
RESEARCH INFRASTRUCTURE PROGRAM
MASSACHUSETTS LIFE SCIENCES CENTER
The design of the Research Infrastructure program (formerly known as the Open or Competitive Capital Program) is to provide grants for capital projects that support the life sciences ecosystem in Massachusetts by enabling and supporting life sciences research and development in the Commonwealth.
SBIR TARGETED TECHNOLOGIES (START) PROGRAM
MASSVENTURES
The SBIR Targeted Technologies (START) program helps growing Massachusetts-based companies commercialize technologies developed under SBIR and STTR contracts.
SEED FUND
MASSACHUSETTS LIFE SCIENCES CENTER
The Seed Fund is targeting life sciences companies broadly, which includes therapeutics, medical devices, diagnostics, and bioinformatics/digital health technologies.
SITE READINESS PROGRAM
MASSDEVELOPMENT
Commonwealth Site Readiness Fund funds site assembly, site assessment, predevelopment permitting and other predevelopment and marketing activities that enhance the site readiness for commercial, industrial or mixed-use development; provided, that a portion of the funds shall be used to facilitate the expansion or replication of successful industrial parks; and provided further, that a portion of the funds shall be used to support the revitalization of downtown centers.
SMALL BUSINESS TECHNICAL ASSISTANCE PROGRAM
MASSACHUSETTS GROWTH CAPITAL CORPORATION
Leverages community and economic development non-profits to help small businesses create and preserve jobs. The grants are awarded to community development corporations, chambers of commerce, and similar non-profits. They use the funds to provide crucial services, such as technical assistance, training in business skills, and access to financing, to their local businesses.
SOCIAL ENTERPRISE CAPITAL GRANT PROGRAM
EXECUTIVE OFFICE OF HOUSING AND ECONOMIC DEVELOPMENT
The Social Enterprise Capital Grant Program is administered by the Executive Office of Housing and Economic Development (EOHED) to support various costs related to the development of eligible facilities, specifically the purchase and/or renovation of a property owned by the nonprofit and utilized for the social enterprise.
STAR FUND
MASSDEVELOPMENT
The STAR Fund provides participants with a convenient method of pooling cash and proceeds of bonds, notes or other obligations for temporary investment, pending their expenditure.
TAXI & LIVERY BUSINESS SUPPORT GRANT
MASSDEVELOPMENT
The Taxi & Livery Business Support Grant Program offers taxi, livery, and hackney operators financial assistance to secure products or services that will aid in improving their competitiveness and enhancing their safety capabilities in the rapidly evolving market of for-hire transportation. This program is funded by the Commonwealth’s Transportation Infrastructure Enhancement Trust Fund.
TECHDOLLARS
MASSDEVELOPMENT
Techdollars provides access to 100% financing at below-prime rates for technology equipment purchases and installation by nonprofit organizations.
URBAN AGENDA GRANT PROGRAM
EXECUTIVE OFFICE OF HOUSING AND ECONOMIC DEVELOPMENT
The Urban Agenda Grant Program is a competitive grant program that seeks proposals or projects that entail community-driven responses to community-defined economic opportunities, and that build leadership, collaboration, and capacity at the local level.
VANPOOL CREDIT
MASS DEPARTMENT OF REVENUE
The credit is equal to 30% of the cost incurred during the taxable year for the purchase or lease of company shuttle vans used by the corporation in an employer-sponsored ride sharing program in Massachusetts.
VENTURE CAPITAL INVESTMENT
MASSVENTURES
MassVentures focuses on Series Seed and Series A investments. MassVentures provides capital for first-time CEOs and/or founders and considers industry segments not adequately served by the venture community.
VOCATIONAL INTERNSHIP PROGRAM
MASSACHUSETTS CLEAN ENERGY CENTER
The Massachusetts Clean Energy Vocational Internship Program (VIP) helps prepare the next generation of clean energy workers by funding internships for high school students at Massachusetts clean energy and water innovation companies.
Michigan
JOBS READY MICHIGAN PROGRAM
MICHIGAN ECONOMIC DEVELOPMENT CORPORATION
The Jobs Ready Michigan program was created by the Michigan Strategic Fund to meet the talent needs of companies that are expanding or relocating to Michigan.
Eligibility Requirements
Any company (and/or its affiliates) that is physically located and operating in the state of Michigan or that will be physically located and operating in the state of Michigan and is creating jobs or making capital investment in Michigan is eligible to apply for a grant under the program. A company seeking an incentive under the program must demonstrate that the grant is necessary to address a talent or training gap.
Application Information
A company interested in applying for a grant under the program may submit an application for consideration to the Michigan Economic Development Corporation (MEDC). The MEDC will consider the following factors in determining whether to make a recommendation to the MSF for an award under the program:
- Demonstrated talent recruitment and/or training need
- Number, type, and wage-level of jobs to be created or retained by the company in Michigan
- Level of capital investment to be made by the company in Michigan
- Out-of-state competition for the expansion or relocation of the company's project
- Whether there is an anticipated net positive return to the state of Michigan through issuance of a program grant
- Whether the company intends to reuse existing facilities in connection to its creation or retention of jobs in Michigan
- Business diversification
- The company ties to Michigan suppliers.
Michigan Economic Development Corporation
300 North Washington Square
Lansing, MI 48913
Phone: (888) 522-0103
Additional information available from the Michigan Economic Development Corporation.
MICHIGAN NEW JOBS TRAINING PROGRAM
MICHIGAN COMMUNITY COLLEGE ASSOCIATION
The Michigan New Jobs Training Program is a local economic development initiative serving employers since 2008. The program authorizes community colleges to temporarily capture the state income tax withholding associated with newly hired workers to pay for training. If your company is planning on expanding and adding new jobs in the state of Michigan, the program can provide the flexible funding to meet an assortment of employee training and development needs specifically designed for your business.
Eligibility Requirements
Companies eligible for the Michigan New Jobs Training Program must meet the following requirements:
- You will be hiring new full-time, permanent positions for a new or expanding business located in the state of Michigan;
- The new positions are not related to recalling laid off or replacement workers;
- The new positions are ones that did not exist within the previous 12 months at your business; and
- The new positions pay at least 175% of the state minimum wage.
Application Information
For a list of the Michigan New Jobs Training Program liaisons at your local community college campuses, please click here. You can also contact Dr. Adriana Phelan at the Michigan Community College Association at (517) 372-4350 or [email protected].
Additional information available from the Michigan Community College Association.
OBSOLETE PROPERTY REHABILITATION ACT
MICHIGAN DEPARTMENT OF TREASURY
The Obsolete Property Rehabilitation Act, PA 146 of 2000, MCL 125.2781 et seq., as amended, provides a property tax exemption for commercial and commercial housing properties that are rehabilitated and meet the requirements of the Act.
Eligibility Requirements
Please refer to the website for eligibility.
Application Information
Applications are filed, reviewed and approved by the local unit of government, but are also subject to review at the State level by the Property Services Division. The State Tax Commission (STC) is responsible for final approval and issuance of OPRA certificates. Exemptions are not effective until approved by the STC.
Additional information available from the Michigan Department of Treasury.
PURE MICHIGAN BUSINESS CONNECT
MICHIGAN ECONOMIC DEVELOPMENT CORPORATION
Pure Michigan Business Connect (PMBC) delivers a suite of services to help diversify and strengthen your supply chain. PMBC can connect your business to local, national, and global purchasers through customized procurement or joint venture matchmaking searches, summits and buyer tours.
Eligibility Requirements
Contact the Michigan Economic Development Corporations for details.
Application Information
Step 1: Create or Update Your Profile
Companies or organizations can create or update a profile on the PMBC Community to:
- Connect with other Michigan businesses
- Register to attend matchmaking events
- Submit applications to meet with buyers
Step 2: Review or Add Capability Tags
As a member of the PMBC Community, you can now customize what capabilities appear in your company’s profile so that either buyers can see the products/services you provide OR Michigan suppliers can see the products/services you seek. These tags will remain connected to your profile though you have the option to add new tags or remove outdated ones.
Step 3: Download the PMBC Mobile App
Search “PMBC” on the Apple App Store or Google Play Store and download the app. Log into the app using the account profile you created in the PMBC Community to:
- Connect with others attending matchmaking events
- Get alerts on schedule changes and summit updates
- Schedule on-the-fly meetings with buyers and suppliers
Additional information available from the Michigan Economic Development Corporation.
AGRICULTURAL PROCESSING RENAISSANCE ZONES
MICHIGAN ECONOMIC DEVELOPMENT CORPORATION
These Agricultural Processing Renaissance Zones (APRZs) differ from Michigan's original renaissance zones because they require them to contain a company's agricultural processing facility and can be located anywhere in Michigan.
BIOMASS GASIFICATION AND METHANE DIGESTER PROPERTY TAX EXEMPTION
MICHIGAN DEPARTMENT OF AGRICULTURE & RURAL DEVELOPMENT
Property tax exemption for facilities using methane digesters, biomass gasification equipment, and equipment that processes agriculture left over material for energy production.
BORDER COUNTY INCENTIVES
MICHIGAN ECONOMIC DEVELOPMENT CORPORATION
Eligible businesses that locate in a county that borders another state or Canada may qualify for special tax incentives.
CAPITAL ACCESS PROGRAM
MICHIGAN ECONOMIC DEVELOPMENT CORPORATION
The Capital Access Program is an innovative program available to assist businesses with capital needs.
COMMERCIAL REDEVELOPMENT ACT
MICHIGAN ECONOMIC DEVELOPMENT CORPORATION
The Commercial Redevelopment Act allows local jurisdictions to set up Commercial Redevelopment Districts wherein business investments are eligible for an exemption or reduction in property tax.
COMMERCIAL REHABILITATION ACT
MICHIGAN ECONOMIC DEVELOPMENT CORPORATION
The Act encourages the rehabilitation of commercial property by abating the property taxes generated from new investment for a period up to 10 years.
COMMUNITY DEVELOPMENT BROWNFIELD PROGRAM MICHIGAN ECONOMIC DEVELOPMENT CORPORATION
The Brownfield Program uses tax increment financing (TIF) to reimburse brownfield related costs incurred while redeveloping contaminated, functionally obsolete, blighted or historic properties.
CRITICAL INDUSTRY PROGRAM
MICHIGAN ECONOMIC DEVELOPMENT CORPORATION
The Critical Industry Program (CIP) provides qualified investments to qualified businesses for deal-closing, gap financing, or other economic assistance to create or retain qualified jobs as a result of a technological shift in product or production or make capital investments, or both, in Michigan as determined by the MSF board. Administered by the Michigan Economic Development Corporation (MEDC) on behalf of the Michigan Strategic Fund (MSF), this tool provides access to grants, loans, or other economic assistance.
EMERGING TECHNOLOGIES FUND
MICHIGAN SMALL BUSINESS DEVELOPMENT CENTER
The Michigan Emerging Technologies Fund (ETF) is designed to expand funding opportunities for Michigan technology-based companies in the federal innovation research and development arena.
FOREST PRODUCTS PROCESSING RENAISSANCE ZONES
MICHIGAN ECONOMIC DEVELOPMENT CORPORATION
To assist in the development of a strong forest products industry in Michigan, Forest Products Processing Renaissance Zones (FPPRZ) were created to promote forest products operations in the state and to enhance the industry.
HEALTHCARE PROJECT FINANCE
MICHIGAN DEPARTMENT OF TREASURY
The Michigan Finance Authority provides access to effective, low-cost capital financing to providers of health care services that participate in any phase of the continuum of health care, in order to finance or refinance healthcare projects.
HIGHER EDUCATION PROJECT FINANCE
MICHIGAN DEPARTMENT OF TREASURY
The Michigan Finance Authority provides higher education with access to effective, low-cost capital financing to all institutions of higher education.
INDUSTRIAL FACILITIES EXEMPTION
MICHIGAN DEPARTMENT OF TREASURY
The Plant Rehabilitation and Industrial Development Districts Act, (known as the Industrial Facilities Exemption) PA 198 of 1974, as amended, provides a tax incentive to manufacturers to enable renovation and expansion of aging facilities, assist is the building of new facilities, and to promote the establishment of high tech facilities.
LIVESTOCK AND COMMODITY EXPOSITION COMPETITIVE GRANT
MICHIGAN DEPARTMENT OF AGRICULTURE & RURAL DEVELOPMENT
The Michigan Department of Agriculture and Rural Development offers this grant opportunity to associations or other organized events hosting fairs or expositions showing livestock and commodities.
MICHIGAN ASSISTANCE PROGRAM
MICHIGAN ECONOMIC DEVELOPMENT CORPORATION
Funded by a grant from the Michigan Strategic Fund (MSF) and administered through the Michigan Economic Development Corporation, BBC Entrepreneurial Training and Consulting provides SBIR/STTR proposal development services to technology-based entrepreneurs and early-stage companies throughout Michigan.
MICHIGAN BUSINESS DEVELOPMENT PROGRAM
MICHIGAN ECONOMIC DEVELOPMENT CORPORATION
The Michigan Business Development Program is an incentive program available from the Michigan Strategic Fund (MSF), in cooperation with the Michigan Economic Development Corporation (MEDC) that provides financing to locate highly competitive business projects in Michigan.
MICHIGAN BUSINESS GROWTH FUND COLLATERAL SUPPORT PROGRAM
MICHIGAN ECONOMIC DEVELOPMENT CORPORATION
The Michigan Business Growth Fund Collateral Support Program (MCSP) supplies cash collateral accounts to lending institutions to enhance the collateral coverage borrowers.
MICHIGAN COMMUNITY REVITALIZATION PROGRAM
MICHIGAN ECONOMIC DEVELOPMENT CORPORATION
The Michigan Community Revitalization Program (MCRP) is an incentive program to promote private investment in Michigan communities. Administered by the Michigan Economic Development Corporation (MEDC) on behalf of the Michigan Strategic Fund (MSF), this tool provides Michigan communities with access to real estate development gap financing for innovative and/or impactful placemaking, historical redevelopment and/or job growth in targeted sectors. The MSF may provide support for a project in the form of a grant, direct loan or other economic assistance such as a loan participation or equity investment. All awards shall be performance-based.
MICHIGAN LOAN PARTICIPATION PROGRAM
MICHIGAN ECONOMIC DEVELOPMENT CORPORATION
The Loan Participation Program seeks to enable companies to acquire the necessary financing that might otherwise be unavailable due to a cash flow shortage according to the lenders analysis.
MICHIGAN SALES AND USE TAX EXEMPTIONS
MICHIGAN DEPARTMENT OF TREASURY
The State of Michigan provides sales and use tax exemptions for various products and services.
MICHIGAN TRANSLATIONAL RESEARCH AND COMMERCIALIZATION STATEWIDE PROGRAM
MICHIGAN ECONOMIC DEVELOPMENT CORPORATION
The Michigan Translational Research and Commercialization Program (MTRAC) was created in 2012 to accelerate the transfer of new technologies from Michigan’s institutions of higher learning into the commercial market by way of licenses or startups. In 2016 the program expanded as a statewide program to support translational research throughout the state of Michigan. Expansion reinforces the commitment to entrepreneurship, innovation and economic growth by providing a pathway to accelerate the creation and transfer of new technologies into the commercial market.
MICHIGAN’S FOOD AND AGRICULTURE INVESTMENT FUND
MICHIGAN DEPARTMENT OF AGRICULTURE & RURAL DEVELOPMENT
The Food and Agriculture Investment Program provides financial support for food and agriculture projects that help expand food and agriculture processing to enable growth in the industry and Michigan's economy. Projects are selected based on their impact to the overall agriculture industry and their impact to food and agriculture growth and investment in Michigan.
NEXT MICHIGAN DEVELOPMENT ACT
MICHIGAN ECONOMIC DEVELOPMENT CORPORATION
The Next Michigan Development Act authorized the MSF (under PA 275 of 2010) to designate up to seven Next Michigan Development Corporations, comprised of local government units that enter into an interlocal agreement to form a corporation.
POLLUTION CONTROL TAX EXEMPTIONS
MICHIGAN ECONOMIC DEVELOPMENT CORPORATION
Air and industrial water pollution control facilities are exempt from sales, use and property taxes in Michigan.
PRE-SEED & EARLY-STAGE FUNDING FOR MICHIGAN STARTUP FUNDS
MICHIGAN ECONOMIC DEVELOPMENT CORPORATION
Michigan Rise Pre-Seed Fund III invests in Michigan tech startups to help commercialize innovative technologies. We are proud to partner with Michigans best and brightest tech entrepreneurs and further economic development in the Mitten State.
PRIVATE ACTIVITY BONDS
MICHIGAN ECONOMIC DEVELOPMENT CORPORATION
Private Activity Bonds are a source of financial assistance to economic development projects in Michigan. Michigan Economic Development Corporation (MEDC) provides profitable firms with capital cost savings stemming from the difference between taxable and tax-exempt interest rates.
PROPERTY TAX EXEMPTION FOR SPECIAL TOOLING
MICHIGAN ECONOMIC DEVELOPMENT CORPORATION
Michigan exempts special tooling from all property taxes.
RECYCLING GRANT PROGRAM
MICHIGAN DEPARTMENT OF ENVIRONMENT, GREAT LAKES, AND ENERGY
A thriving materials management system in Michigan is created through effective education, a network of successful local programs, innovative market development, public/private partnerships, and more. Since 2014, this has been supported through grants to promote recycling access and education for citizens, address processing and infrastructure needs at recycling facilities and collection sites, and develop end use markets for materials collected in Michigan. Funding is available annually through the Renew Michigan Fund to support projects that contribute to Michigans environment through enhanced materials management.
RENEWABLE ENERGY RENAISSANCE ZONES
MICHIGAN ECONOMIC DEVELOPMENT CORPORATION
Renewable energy Renaissance Zones (RERZ) requires companies to contain their renewable energy facility. Unlike Michigan's original RZ, the facilities can be located anywhere in Michigan.
RURAL DEVELOPMENT FUND GRANTS
MICHIGAN DEPARTMENT OF AGRICULTURE & RURAL DEVELOPMENT
The Michigan Department of Agriculture and Rural Development provides grant opportunities to promote the sustainability of land-based industries and support infrastructure that benefits rural communities.
SMARTZONES
MICHIGAN ECONOMIC DEVELOPMENT CORPORATION
SmartZones provide distinct geographical locations where technology-based firms, entrepreneurs and researchers locate in close proximity to all of the community assets that assist in their endeavors.
SPECIALTY CROP BLOCK GRANT PROGRAM
MICHIGAN DEPARTMENT OF AGRICULTURE & RURAL DEVELOPMENT
The Michigan Department of Agriculture and Rural Development Specialty Crop Block Grant (SCBG) Program awards funds to projects to enhance the competitiveness of Michigan specialty crops, which include fruits and vegetables, tree nuts, dried fruits, horticulture, and nursery crops (including floriculture).
STATE ESSENTIAL SERVICES ASSESSMENT EXEMPTION AND ALTERNATIVE STATE ESSENTIAL SERVICES INCENTIVE PROGRAMS
MICHIGAN ECONOMIC DEVELOPMENT CORPORATION
The State Essential Services Assessment Exemption reduces or exempts the Assessment fee for manufacturers that do not pay personal property tax on eligible manufacturing personal property for projects that create jobs and or private investment in Michigan.
STRATEGIC SITE READINESS PROGRAM
MICHIGAN ECONOMIC DEVELOPMENT CORPORATION
The Strategic Site Readiness Program (SSRP) provides financial incentives to eligible applicants to conduct eligible activities on, or related to, strategic sites and mega-strategic sites in Michigan, for the purpose of creating a statewide inventory of investment-ready sites to attract and promote investment in Michigan. Administered by the Michigan Economic Development Corporation (MEDC) on behalf of the Michigan Strategic Fund (MSF), the SSRP provides access to grants, loans, and other economic assistance.
TAXABLE BOND FINANCING
MICHIGAN ECONOMIC DEVELOPMENT CORPORATION
Michigan's Taxable Bond Financing Program provides access to long-term fixed rate or variable rate financing to small and medium sized companies.
TOOL & DIE RECOVERY RENAISSANCE ZONES
MICHIGAN ECONOMIC DEVELOPMENT CORPORATION
Geographic Renaissance Zones are regions of the state designated as virtually tax free for any business or resident presently in or moving to a zone.
VALUE ADDED & REGIONAL FOOD SYSTEMS GRANT
MICHIGAN DEPARTMENT OF AGRICULTURE & RURAL DEVELOPMENT
The Michigan Department of Agriculture and Rural Development provides grants to establish, retain, expand, attract or develop value added agricultural processing in Michigan, or that expand or develop regional food systems or access the healthy food.
VENTURE MICHIGAN FUND
MICHIGAN GCM GROSVENOR
The Venture Michigan Fund is a venture capital fund investment program that seeks to promote Michigan's economic health.
Minnesota
JOB TRAINING INCENTIVE PROGRAM
MINNESOTA DEPARTMENT OF EMPLOYMENT AND ECONOMIC DEVELOPMENT
This program provides grants to new or expanding businesses located in Greater Minnesota for the purposes of training workers as quickly and efficiently as possible.
Eligibility Requirements
Business eligibility:
- The business is located outside of the seven county metropolitan area or located in the cities of Hanover, Rockford, Northfield, Cannon Falls and New Prague
- Must be a new or expanding business that commits to hiring permanent employees in new jobs that provide at least 32 hours of work per week for a minimum of nine months per year.
- The new jobs must pay annual wages at least equal to 120% of federal poverty guidelines for a family of four, plus benefits, by the end of the training period. For 2024, this is $37,440 per year, which is equivalent to $17.87 per hour based on a 2096-hour work year.
- The business will add at least three new jobs at the project location.
Businesses primarily engaged as a public utility or in retail sales at the project location, health care services, lobbying, gambling, professional sports, political consulting, leisure, hospitality or professional services provided by attorneys, accountants, business consultants, physicians, or healthcare consultants are not eligible.
Program requirements:
- The business must be able to demonstrate that its training needs cannot be met through a Minnesota Job Skills Partnership grant.
- The training is in an eligible topic area.
- The business must match state funds with cash or in-kind contributions on a .5:1 basis.
- To be considered a new job, the job must be added on or after the date of application.
- Must intend for training to begin within six months of the award date. At DEED’s discretion, one three-month extension may be granted.
- Grants awarded in fiscal year 2023 (July 1, 2022 – June 30, 2023) must be completed by June 30, 2024. Grants awarded in fiscal year 2024 (July 1, 2023 – June 30, 2024) must be completed by June 30, 2025.
- The application must identify the training to be provided for each job category, projected costs, expected outcomes and a timeline for the training.
Application Information
Applications are accepted on a year-round, first-come, first-serve basis contingent on receipt of an eligible application and the availability of funding.
Interested businesses are encouraged to contact DEED to inquire about eligibility and the availability of funding. Once an application is submitted, DEED staff will evaluate and score the application and notify the applicant of approval or denial within 15 days or as soon as reasonably possible after receipt of the complete application. Eligible applications with a minimum score of 30 points will be awarded on a first-come, first-serve basis.
The business must pay a $500 application fee payable upon preliminary approval of the application.
AGRI LIVESTOCK INVESTMENT GRANT
MINNESOTA DEPARTMENT OF AGRICULTURE
The AGRI Livestock Investment Grant encourages long-term industry development for Minnesota livestock farmers and ranchers by helping them improve, update, and modernize their livestock operation infrastructure and equipment.
AGRICULTURAL IMPROVEMENT LOAN PROGRAM
MINNESOTA DEPARTMENT OF AGRICULTURE
A loan participation program to assist eligible farmers which will improve production, efficiency, and increase farm income. Agricultural improvements mean improvements to a farm, including the purchase and construction or installation of improvements to land, buildings and other permanent structures.
AGRICULTURAL MICROLOAN PROGRAM
MINNESOTA DEPARTMENT OF AGRICULTURE
The program focus is to assist non-traditional farmers in the transition from their current situation to one where operators qualify for traditional avenues of agricultural credit.
AGRICULTURE BEST MANAGEMENT PRACTICES LOAN PROGRAM
MINNESOTA DEPARTMENT OF AGRICULTURE
The AgBMP Loan Program is a water quality program that provides low-interest loans to farmers, rural landowners, and agriculture supply businesses.
DISASTER RECOVERY LOAN PROGRAM
DEPARTMENT OF AGRICULTURE
The funds can be used for to help clean up, repair, or replace farm buildings, repair or replace septic and water systems, replace seed, fertilizer (or other cropping inputs), feed, or livestock and poultry.
DUAL TRAINING GRANTS
MINNESOTA OFFICE OF HIGHER EDUCATION
The Dual Training Grant is a funding source that generates collaborative and strategic educational solutions between employers and related instruction training providers across Minnesota. Employers or organizations of employers may apply for grants to reimburse expenses related to instruction toward attaining an industry-recognized degree, certificate or credential for their employees.
EMERGING ENTREPRENEUR LOAN PROGRAM
MINNESOTA DEPARTMENT OF EMPLOYMENT AND ECONOMIC DEVELOPMENT
The Emerging Entrepreneur Loan Program provides loan capital for businesses that are owned and operated by minorities, low-income persons, women, veterans and/or persons with disabilities.
FARM OPPORTUNITY LOAN PROGRAM
MINNESOTA DEPARTMENT OF AGRICULTURE
The Farm Opportunity Loan Program is designed to finance the purchase of equipment to add value to crops or livestock, adopt best management practices, reduce agricultural inputs to improve the environment, and increase on-farm energy production.
GREATER MINNESOTA JOB EXPANSION PROGRAM
MINNESOTA DEPARTMENT OF EMPLOYMENT AND ECONOMIC DEVELOPMENT
The Greater Minnesota Job Expansion Program provides tax benefits to businesses located in Greater Minnesota that increase employment. Qualifying businesses that meet job-growth goals may receive sales tax refunds for purchases made during a seven-year period.
GREATER MINNESOTA PUBLIC INFRASTRUCTURE GRANT PROGRAM
MINNESOTA DEPARTMENT OF EMPLOYMENT AND ECONOMIC DEVELOPMENT
The Greater Minnesota Business Development Infrastructure Grant Program provides grants to cities of up to 50 percent of the capital costs of the public infrastructure necessary to expand or retain jobs in the area, increase the tax base, or expand or create new economic development.
INNOVATIVE BUSINESS DEVELOPMENT PUBLIC INFRASTRUCTURE (BDPI)
MINNESOTA DEPARTMENT OF EMPLOYMENT AND ECONOMIC DEVELOPMENT
The program provides grants to local governmental units on a competitive basis statewide. The amount of a grant may not exceed the lesser of the cost of the public infrastructure or 50 percent of the sum of the cost of the public infrastructure plus the cost of the completed eligible project.
IRON RANGE REGIONAL PRODUCTION INCENTIVE PROGRAM
MINNESOTA FILM & TV
This program offers financial assistance in the form of a production rebate to eligible applicants to encourage the creation of film, television, and digital media content production in the Department of Iron Range Resources & Rehabilitation™s service area (also known as the Taconite Assistance Area).
JOB SKILLS PARTNERSHIP PROGRAM
MINNESOTA DEPARTMENT OF EMPLOYMENT AND ECONOMIC DEVELOPMENT
The Job Skills Partnership provides training grants of up to $400,000 to educational institutions that partner with businesses to develop new-job training or retraining for existing employees.
LAUNCH MINNESOTA INNOVATION GRANTS
MINNESOTA DEPARTMENT OF EMPLOYMENT AND ECONOMIC DEVELOPMENT
Launch Minnesota Innovation Grants are targeted to the most promising innovative scalable technology businesses in Minnesota.
LIVESTOCK EQUIPMENT LOAN PROGRAM
MINNESOTA DEPARTMENT OF AGRICULTURE
Loans may be used for the acquisition of equipment for animal housing, confinement, animal feeding, milk production and waste management.
LIVESTOCK EXPANSION LOAN PROGRAM
MINNESOTA DEPARTMENT OF AGRICULTURE
Livestock expansion means improvements to a livestock operation, including the purchase and construction or installation of improvements to land, buildings, and other permanent structures, including equipment incorporated in or permanently affixed to the land, buildings or structures, which are useful for and intended to be used for the purpose of raising livestock. The purchase of livestock is NOT an eligible purpose for this program.
LOW INCOME WORKER TRAINING PROGRAM
MINNESOTA DEPARTMENT OF EMPLOYMENT AND ECONOMIC DEVELOPMENT
The Low-Income Worker Training Program helps workers whose incomes are at or below 200 percent of the federal poverty guidelines gain new skills necessary to move up the career ladder to higher paying jobs and greater economic self-sufficiency.
METHANE DIGESTER LOAN PROGRAM
MINNESOTA DEPARTMENT OF AGRICULTURE
The MDA developed the Methane Digester Loan Program in 1998 to help supplement the funds needed for livestock producers in Minnesota to begin installing digesters on their farms.
MINNESOTA 21ST CENTURY FUND
MINNESOTA DEPARTMENT OF EMPLOYMENT AND ECONOMIC DEVELOPMENT
The Minnesota 21st Century Fund makes loans or equity investments in innovative mineral, steel, or other industry processing, production, manufacturing, or technology projects located in the taconite relief tax area. The fund may also make grants to municipalities or counties for public infrastructure to support such projects.
MINNESOTA INVESTMENT FUND
MINNESOTA DEPARTMENT OF EMPLOYMENT AND ECONOMIC DEVELOPMENT
The Minnesota Investment Fund provides financing to help add new workers and retain high-quality jobs on a statewide basis.
MINNESOTA JOB CREATION FUND
MINNESOTA DEPARTMENT OF EMPLOYMENT AND ECONOMIC DEVELOPMENT
The Job Creation Fund provides financial incentives to new and expanding businesses that meet certain job creation and capital investment targets.
MINNESOTA RESERVIST AND VETERAN BUSINESS LOAN PROGRAM
MINNESOTA DEPARTMENT OF EMPLOYMENT AND ECONOMIC DEVELOPMENT
The Minnesota Reservist and Veteran Business Loan Program provides business loans to companies that are affected when certain employees are called to active military duty and to individual veterans who have returned from active duty and want to start their own business.
NATIVE AMERICAN BUSINESS LOAN PROGRAM
MINNESOTA DEPARTMENT OF EMPLOYMENT AND ECONOMIC DEVELOPMENT
The Minnesota Indian Business Loan Program supports the development of Indian-owned and operated businesses and promotes economic opportunities for Indian people throughout Minnesota.
PATHWAYS PROGRAM
MINNESOTA DEPARTMENT OF EMPLOYMENT AND ECONOMIC DEVELOPMENT
The Pathways program focuses on providing training, new jobs and career paths for people who have incomes at or below 200 percent of the federal poverty guidelines or those who are making a transition from public assistance to work.
REDEVELOPMENT GRANT PROGRAM
MINNESOTA DEPARTMENT OF EMPLOYMENT AND ECONOMIC DEVELOPMENT
The Redevelopment Grant Program helps communities with the costs of redeveloping blighted industrial, residential, or commercial sites and putting land back into productive use.
RESEARCH AND DEVELOPMENT TAX CREDIT
MINNESOTA DEPARTMENT OF REVENUE
Companies that engage in certain research and development (R&D) activities in Minnesota may qualify for the Credit for Increasing Research Activities.
RESTRUCTURE II LOAN PROGRAM
MINNESOTA DEPARTMENT OF AGRICULTURE
The Restructure II loan program is designed to help farmers refined their debt of an agricultural nature.
SCITECHSPERIENCE INTERNSHIP PROGRAM
MINNESOTA DEPARTMENT OF EMPLOYMENT AND ECONOMIC DEVELOPMENT
SciTechsperience is a paid internship program that connects college students in science, technology, engineering and math (STEM) disciplines with rewarding hands-on opportunities at Minnesota companies that need their skills.
SEED CAPITAL INVESTMENT CREDIT PROGRAM
MINNESOTA DEPARTMENT OF EMPLOYMENT AND ECONOMIC DEVELOPMENT
The SEED Capital Investment Program provides tax incentives for investing in innovative business located in the Minnesota border cities of Breckenridge, Dilworth, East Grand Forks, Moorhead, and Ortonville.
SELLER ASSISTED LOAN PARTICIPATION PROGRAM
MINNESOTA DEPARTMENT OF AGRICULTURE
The Seller Assisted farm ownership program is a cooperative financing effort involving a buyer, a seller, a local lender, and the Minnesota Rural Finance Authority (RFA).
ST. LOUIS COUNTY
MINNESOTA FILM & TV
The St Louis County, MN Production Incentive Program offers financial assistance in the form of a production rebate to certified applicants to encourage the creation of film, television and digital media content in St Louis County and to foster the local organic growth of the production industry talent and workforce.
STEP GRANT PROGRAM
MINNESOTA DEPARTMENT OF EMPLOYMENT AND ECONOMIC DEVELOPMENT
The STEP program provides financial and technical assistance to qualifying Minnesota small businesses with an active interest in exporting products or services to foreign markets.
TRANSPORTATION ECONOMIC DEVELOPMENT INFRASTRUCTURE (TEDI) PROGRAM
MINNESOTA DEPARTMENT OF EMPLOYMENT AND ECONOMIC DEVELOPMENT
The Transportation Economic Development Infrastructure Program (TEDI) is a competitive grant program available to communities for road and public infrastructure projects that create jobs and support economic development.
TRANSPORTATION REVOLVING LOAN FUND
MINNESOTA DEPARTMENT OF TRANSPORTATION
The Transportation Revolving Loan Fund (TRLF) provides financing to state, local and other government entities for transportation projects approved by the Minnesota Department of Transportation.
VALUE ADDED STOCK LOAN PROGRAM
MINNESOTA DEPARTMENT OF AGRICULTURE
The Value Added Stock Loan Program provides financing to farmers seeking to invest in downstream, value-added agricultural industries that source their product from Minnesota farmers.
Mississippi
ADVANTAGE JOBS INCENTIVE PROGRAM
MISSISSIPPI DEVELOPMENT AUTHORITY
The Advantage Jobs Program provides a cash rebate to eligible businesses that create new jobs that meet or exceed the average annual wage of the state or the county in which the company locates.
Eligibility Requirements
The following businesses may qualify for this tax rebate:
- Businesses, with the exception of retail businesses, gaming establishments or certain service providers, that provide an average annual wage of 110 percent of the average annual county or state wage, whichever is less, and create 25 new, full-time jobs
- Data and information processing enterprises that provide an average annual wage of 100 percent of the average state or county wage, whichever is less, and create 200 new, full-time jobs
The eligible business must also provide a basic health benefits plan to its employees to be considered for the rebate program.
Application Information
How to Apply for the Incentive:
- Apply to MDA to be certified for the Advantage Jobs Incentive Program.
- Complete all requirements set out in the MDA application.
- Notify the MDOR of the completion of all criteria set forth in the MDA certification by letter detailing the date of completion and appropriate job information.
- File monthly job information on the Advantage Jobs Incentive Program Jobs Worksheet in an Excel spreadsheet.
- Stay in compliance for four consecutive quarters.
- At the end of the compliance period, file a claim for payment with the MDOR including the required information.
Additional information available from the Mississippi Development Authority.
ENERGY EFFICIENCY REVOLVING LOAN PROGRAM (EERLF)
MISSISSIPPI DEVELOPMENT AUTHORITY
This program provides low-interest loans to finance projects for energy-conserving capital improvements and installation of renewable energy technology or equipment.
Eligibility Requirements
Contact the Mississippi Development Authority for more information.
Application Information
Contact the Mississippi Development Authority for more information.
Mississippi Development Authority
Energy Division
501 North West Street
Jackson, MS 39202
Phone: 601-359-3449
Additional information available from the Mississippi Development Authority.
EXISTING INDUSTRY PRODUCTIVITY LOAN PROGRAM
MISSISSIPPI DEVELOPMENT AUTHORITY
The Existing Industry Productivity (EIB) Loan Program provides loans to existing Mississippi manufacturers to help them retain jobs in the state and improve their productivity.
Eligibility Requirements
“Existing industry” means a manufacturing enterprise that has been operating in this state, including any federal Indian reservation located within the geographical boundary of this state, for not less than two (2) consecutive years that meets minimum criteria established by the Mississippi Development Authority.
“Long-term fixed assets” means assets that:
- Through new technology will improve an enterprise’s productivity and competitiveness; and
- Meet criteria established by the Mississippi Development Authority.
Application Information
An existing industry desiring a loan under this section must submit an application to the MDA. The application shall include:
- A description of the purpose for which the loan is requested;
- The amount of the loan requested;
- The estimated total cost of the project;
- A two-year business plan for the project;
- Financial statements or tax returns for the existing industry for the two (2) years immediately prior to the application;
- Credit reports on all persons or entities with a twenty percent (20%) or greater interest in the enterprise; and
- Any other information required by the MDA.
Additional information available from the Mississippi Development Authority.
GROWTH AND PROSPERITY PROGRAM
MISSISSIPPI DEPARTMENT OF REVENUE
The Growth and Prosperity (GAP) Program designates specific counties as GAP counties and provides income, franchise, sales and property tax incentives to companies that locate or expand in these areas of Mississippi.
Eligibility Requirements
To be designated as a GAP county, a county must have an unemployment rate that is 200 percent of the state’s annual unemployment rate or must have 30 percent or more of its population below the federal poverty rate.
- GAP-Eligible Counties: Adams, Bolivar, Claiborne, Coahoma, Holmes, Humphreys, Issaquena, Jefferson, Leflore, Noxubee, Oktibbeha, Quitman, Sharkey, Sunflower, Tallahatchie, Tunica, Washington and Yazoo
- Counties with GAP-Eligible Districts: Adams – District 4, Amite – Districts 2 and 3, Attala – District 4, Franklin – Districts 1 and 2 and Lowndes –District 4
The following enterprises that create 10 or more jobs are eligible to participate under the GAP Program:
- Manufacturers, processors and companies that assemble, store, warehouse, service, distribute or sell any product or good, including agricultural products;
- Research and development enterprises, including, but not limited to, scientific laboratories; or
- Other businesses or industries that will further the public purposes of the GAP Act as determined on a case-by-case basis by MDA and that create a minimum of 10 jobs.
Retail or gaming businesses or electrical generation facilities are not eligible to participate in the GAP Program.
Application Information
Companies interested in GAP incentives must apply to and be certified by the Mississippi Development Authority, and an agreement must be entered into by the company prior to receiving these benefits. All tax incentives are administered by the Mississippi Department of Revenue and the County Tax Assessor.
Additional information available from the Mississippi Development Authority.
JOBS TAX CREDIT
MISSISSIPPI DEPARTMENT OF REVENUE
Jobs Tax Credits are credits that can be applied to state income tax to reduce an employer's income tax liability.
Eligibility Requirements
A company must create and maintain between 10 and 20 jobs, depending on where it is located, to be eligible for the Jobs Tax Credit.
The following types of businesses qualify for these credits:
- Manufacturers
- Wholesalers
- Processors
- Research and development facilities
- Distributors
- Warehouses
In addition, the following businesses qualify upon receiving a designation by the Mississippi Development Authority:
- Air and transportation maintenance facilities
- Telecommunications companies
- Data and information processing companies
- Computer software development enterprises
- Recreational facilities that impact tourism
- Resort hotels having a minimum of 150 rooms
- Movie industry studios
- Technology-intensive facilities
Application Information
How to Apply for the Incentive:
When requesting to "lock in" a county’s classification, a completed Application for Certification for Economic Incentives must be completed. This application can be completed online within the applicant’s Taxpayer Access Point (TAP) account by clicking the “Apply for Economic Incentives” link.
Make sure a detailed explanation of the type of construction or expansion that is being planned is submitted for the regular jobs tax credit. The TAP application contains a link to upload any documentation needed to support the request.
A letter acknowledging the county designation and imposing time deadlines will be issued. This allows a business to retain the county designation and the amount of anticipated credit that was in effect at the time the initial construction or expansion was begun, but the construction or expansion must begin within one (1) year of the approval of the certification, or it is no longer valid. This certification to "lock in" the county's classification will not be granted retroactively. For the other types of jobs tax credit, any additional information required to be attached to the Application for Certification for Economic Incentives will be noted in the bulleted points within that specific paragraph.
How to Claim the Credit:
When filing the state income/franchise tax return claiming the credit, attach:
- a Jobs Tax Credit Worksheet showing each separate five (5) year period of new job creation;
- a Mississippi Tax Credit Summary Schedule showing all credits taken and any credit carryforward; and
- the approval letter, if applicable.
Additional information available from the Mississippi Development Authority.
MINORITY BUSINESS ENTERPRISE LOAN PROGRAM
MISSISSIPPI DEVELOPMENT AUTHORITY
The Minority Business Enterprise Loan Program provides loans to socially and economically disadvantaged minority and women owned businesses as designated by the Minority and Small Business Development Division of the Mississippi Development Authority.
Eligibility Requirements
Eligible uses of loan proceeds include:
- Land and building acquisitions
- Working capital
- Machinery
- Equipment.
Industries that may apply include:
- Manufacturers
- Warehouses and distribution centers
- Retail.
Application Information
For more information or to apply, contact Mississippi's Development Authority's Financial Resources Division.
Mississippi Development Authority
Financial Resources Division
501 North West Street
Jackson, MS 39202
Phone: 601-359-5081
[email protected]
Additional information available from the Mississippi Development Authority.
MINORITY BUSINESS MICRO LOAN PROGRAM
MISSISSIPPI DEVELOPMENT AUTHORITY
The Minority Business Micro Loan Program provides loans to socially and economically disadvantaged minority and women-owned businesses as designated by the Minority and Small Business Development Division of the Mississippi Development Authority.
Eligibility Requirements
Eligible uses of loan proceeds include:
- Inventory
- Working capital
- Machinery and equipment
Job creation and assistance to minority and women-owned businesses are the goals of the Minority Business Micro Loan Program. Industries that may apply include:
- Manufacturers
- Warehouses and distribution centers
- Retail
Additional Information
Mississippi Development Authority
Financial Resources Division
501 North West Street
Jackson, MS 39202
Phone: 601-359-5081
[email protected]
Additional information available from the Mississippi Development Authority.
ON-THE-JOB TRAINING REIMBURSEMENT
MISSISSIPPI DEPARTMENT OF EMPLOYMENT SECURITY
The On-the-Job Training Program provides training for workers while reimbursing employers for wages.
Eligibility Requirements
To qualify for these programs, an employer must:
- Offer a full time job
- Have an Internal Revenue Service Identification number
- Have an active workers' compensation policy
- Keep accurate employee records
Application Information
Please contact the Mississippi Department of Employment Security for more information.
Mississippi Department of Employment Security
1235 Echelon Parkway
Jackson, MS 39215
Phone: 601-321-6000
Additional information available from the Mississippi Department of Employment Security.
SALES AND USE TAX EXEMPTION FOR CONSTRUCTION OR EXPANSION
MISSISSIPPI DEPARTMENT OF REVENUE
A sales and use tax exemption is available for eligible businesses that construct a new facility or expand an existing facility in the state.
Eligibility Requirements
Eligible businesses include:
- manufacturers
- custom processors
- data/information enterprises
- technology intensive enterprises
Application Information
Before construction is begun, the business must be certified as eligible for the exemption by the MDOR. To be certified as eligible for the exemption, the business must submit the following:
- for companies requiring MDA approval, a copy of the approval letter from MDA;
- a completed Application for Certification for Economic Incentives;
- a detailed letter with a description of the type of business and the type of construction or expansion or addition to the facility to justify the request for the exemption;
- include the purpose of the construction or expansion and the expected result;
- a completed Registration Application for a use tax account (if one has not been issued);
- a completed Application for Direct Pay Permit (if one has not been issued).
Registration for a use tax account and a Direct Pay Permit can be completed online. Once registered for use tax, the Application for Certification for Economic Incentives can be completed online within the applicant’s Taxpayer Access Point (TAP) account by clicking the “Apply for Economic Incentives” link.
The TAP application contains a link to upload the requested documentation. After all the required information has been submitted and the exemption approved, the business will receive a letter acknowledging the county designation, the amount of the exemption and the time period for the exemption. The construction or expansion must begin within one (1) year of the approval of certification. A letter of denial will be sent if the exemption is not approved.
The Direct Pay Permit number should be furnished to ALL vendors so that the retail sales or use tax will not be charged on ANY purchases. The correct tax on all purchases, if any is due, would then be remitted directly to the MDOR. Qualified purchases during the construction or expansion period would be either fully exempted or granted the one-half (50%) exemption. If the one-half (50%) exemption is granted, use either tax code 68 or 78 to report the purchases. For businesses that receive a Direct Pay Permit for the incentive only, the permit will no longer be effective and will stand rescinded when the project is complete. After this date, tax will be remitted to all vendors in the normal course of business.
AIRPORT CARGO CHARGES TAX CREDIT
MISSISSIPPI DEPARTMENT OF REVENUE
An income tax credit is available equal to the charges a business pays for utilizing certain Mississippi airport facilities for the import or export of cargo.
BROADBAND TECHNOLOGY TAX CREDIT
MISSISSIPPI DEPARTMENT OF REVENUE
An income tax credit is available for telecommunications businesses based on a percentage of the cost of equipment used in the deployment of broadband technology.
CAPITAL ACCESS CONTRACT LOAN PROGRAM
MISSISSIPPI DEVELOPMENT AUTHORITY
The Capital Access Contract Loan Program assists socially and economically disadvantaged businesses as designated by the U.S. Small Business Act by providing loans to borrowers with contracts with public entities who, for various reasons, might have difficulty in obtaining conventional loans.
CAPITAL IMPROVEMENTS REVOLVING LOAN PROGRAM
MISSISSIPPI DEVELOPMENT AUTHORITY
The Capital Improvements Revolving (CAP) Loan Program provides loans to municipalities and counties for the improvement of public facilities and infrastructure to assist with business locations and expansions, and with community based projects.
DATA CENTER ENTERPRISES (DCE) EXEMPTION
MISSISSIPPI DEVELOPMENT AUTHORITY
The Data Center Enterprises (DCE) Exemption is an incentive created to induce companies to locate or expand data centers in Mississippi.
EMPLOYER PROVIDED DEPENDENT CARE TAX CREDIT
MISSISSIPPI DEPARTMENT OF REVENUE
An income tax credit equal to one-half of the expenses of providing dependent day care for employees is available to all types of businesses providing day care which is certified by the Mississippi Department of Health.
ENTERTAINMENT DISTRICT INCENTIVE
MISSISSIPPI DEPARTMENT OF REVENUE
An income tax incentive in the form of a five (5) year accelerated depreciation period is provided for construction and renovation projects of an entertainment facility in a Mississippi entertainment district.
EXPORT PORT CHARGES CREDIT
MISSISSIPPI DEPARTMENT OF REVENUE
An income tax credit is available equal to the charges a business pays for exporting cargo through certain Mississippi ports.
FREE PORT WAREHOUSE PROPERTY TAX EXEMPTION
MISSISSIPPI DEPARTMENT OF REVENUE
An exemption from property taxes is available on finished goods inventory in transit to a destination outside Mississippi.
HISTORIC REHABILITATION INCOME TAX CREDIT
MISSISSIPPI DEPARTMENT OF ARCHIVES AND HISTORY
An income tax credit or rebate is available in an amount equal to twenty five percent (25%) of the total costs and expenses for the rehabilitation of either residential or business property located in Mississippi and qualifying as a certified historic structure or a structure in a certified historic district.
IMPORT PORT CHARGES TAX CREDIT
MISSISSIPPI DEPARTMENT OF REVENUE
An income tax credit is available equal to the charges an eligible business pays for importing cargo (except for forest products) through certain Mississippi ports.
INDUSTRIAL PROPERTY TAX EXEMPTION
MISSISSIPPI DEPARTMENT OF REVENUE
An incentive for new or expanded eligible businesses is available in the form of an exemption from ad valorem taxes on tangible property by application to the local governing authority.
MANUFACTURING INVESTMENT TAX CREDIT
MISSISSIPPI DEPARTMENT OF REVENUE
Existing manufacturers that have operated in Mississippi for two or more years may be eligible for investment tax credits that can be applied to their state income tax liability.
MINORITY SURETY BOND GUARANTY PROGRAM
MISSISSIPPI DEVELOPMENT AUTHORITY
The Minority Surety Bond Guaranty Program assists socially and economically disadvantaged minority and women owned businesses as designated by the Minority and Small Business Development Division of the Mississippi Development Authority through surety bond guarantees and technical assistance in internal management.
MISSISSIPPI AEROSPACE INITIATIVE INCENTIVES PROGRAM
MISSISSIPPI DEVELOPMENT AUTHORITY
The Mississippi Aerospace Initiative Incentives Program provides tax incentives to companies that locate or expand in the state and manufacture or assemble components for the aerospace industry or provide research, development or training services for the sector.
MISSISSIPPI CLEAN ENERGY INITIATIVE INCENTIVES PROGRAM/CLEAN ENERGY ENTERPRISES EXEMPTION
MISSISSIPPI DEVELOPMENT AUTHORITY
The Mississippi Clean Energy Initiative Incentives Program provides tax incentives to companies that manufacture systems or components used to generate clean, renewable or alternative energy, which includes nuclear, solar and wind power and hydrogenation.
MISSISSIPPI EQUITY INVESTMENT (NEW MARKETS) TAX CREDIT
MISSISSIPPI DEPARTMENT OF REVENUE
A credit to Mississippi income or insurance premium tax is available for eligible investments made by Community Development Entities (CDEs) in designated low income census tracts in the state, as defined by the U.S. Census Bureau. These credits are state credits that act as companion credits to the Federal New Markets Tax Credits (NMTC) Program.
MISSISSIPPI HEALTH CARE INDUSTRY ZONE INCENTIVE PROGRAM
MISSISSIPPI DEVELOPMENT AUTHORITY
The Mississippi Health Care Industry Zone Incentive aims to increase the number of health care jobs in the state and expand access to high-quality medical care for Mississippi residents by encouraging health care-related businesses to locate or expand in Health Care Zones in the state.
MISSISSIPPI TOURISM SALES TAX INCENTIVE PROGRAM
MISSISSIPPI DEVELOPMENT AUTHORITY
The Mississippi Tourism Sales Tax Incentive Program provides a rebate of the sales tax collected by an eligible tourism project. Any business desiring to participate in this program must first contact MDA to determine its eligibility. Eligibility will be determined by amount of investment and type of attractions of the tourism project. MDA will issue a certificate when the enterprise is approved.
MOTION PICTURE PRODUCTION INCENTIVE
MISSISSIPPI DEVELOPMENT AUTHORITY
A rebate is available for a certified motion picture production company that expends at least fifty thousand dollars ($50,000) in base investment, payroll and/or fringes in this state on a production certified by the Mississippi Development Authority (MDA).
NATIONAL OR REGIONAL HEADQUARTERS TAX CREDIT AND RELOCATION TAX CREDIT
MISSISSIPPI DEPARTMENT OF REVENUE
Mississippi's National or Regional Headquarters Relocation Tax Credit offers companies transferring or relocating their national or regional headquarters to the state an income tax credit equal to their actual relocation costs.
PROPERTY TAX EXEMPTION
MISSISSIPPI BUSINESS FINANCE CORPORATION
All projects qualified through the Mississippi Business Finance Corporation Incentive Program are eligible for an exemption from property taxes on land, buildings and equipment for up to 10 years. The exemption is offered at the discretion of local governing authorities and may be granted for all local ad valorem taxes except school district taxes. It may not be granted on finished goods or rolling stock.
PROPERTY TAX EXEMPTION FOR BROADBAND TECHNOLOGY
MISSISSIPPI DEPARTMENT OF REVENUE
A property tax exemption is available for eligible telecommunications businesses on the purchase of equipment used in the deployment of broadband technology in the state.
PROPERTY TAX FEE IN LIEU
MISSISSIPPI DEVELOPMENT AUTHORITY
For new or expansion projects in the state that have a private capital investment in excess of $60 million, a negotiated fee can be set that is paid in place of the standard property tax levy.
RAIL GRANT PROGRAM
MISSISSIPPI DEVELOPMENT AUTHORITY
The program provides grants to public and private railroads to finance railroad projects that promote economic growth and job creation in Mississippi.
RESEARCH AND DEVELOPMENT SKILLS TAX CREDIT
MISSISSIPPI DEPARTMENT OF REVENUE
The Research and Development Skills Tax Credit is an income tax credit that can be used to reduce an eligible business's income tax liability.
RURAL ECONOMIC DEVELOPMENT (RED) TAX CREDIT
MISSISSIPPI BUSINESS FINANCE CORPORATION
Rural Economic Development (RED) Credits are credits that can be used to reduce Mississippi corporate income tax. These credits are available to companies using industrial revenue bonds issued by the Mississippi Business Finance Corporation (MBFC) and are based on the amount of bond-related debt service paid on MBFC-issued industrial revenue bonds.
SALES AND USE TAX EXEMPTION
MISSISSIPPI BUSINESS FINANCE CORPORATION
A 100% sales and use tax exemption is available for eligible businesses that have qualified under the MBFC Incentive Program.
SALES AND USE TAX EXEMPTION FOR BROADBAND TECHNOLOGY
MISSISSIPPI DEPARTMENT OF REVENUE
A sales and use tax exemption is available for eligible telecommunications businesses that deploy broadband technology.
SALES AND USE TAX EXEMPTION FOR REGIONAL AND NATIONAL HEADQUARTERS
MISSISSIPPI DEPARTMENT OF REVENUE
A sales and use tax exemption is available for eligible businesses that create their national or regional headquarters in Mississippi, transfer their headquarters to the state or grow their existing headquarters operations in the state.
SMALL BUSINESS AND EXISTING FORESTRY INDUSTRY LOAN PROGRAM
MISSISSIPPI DEVELOPMENT AUTHORITY
The Small Business and Existing Forestry Industry Loan Program encourages the extension of conventional financing, and issues letters of credit by private institutions, to qualified enterprises in the state of Mississippi. Through this program, MDA provides low-interest loans to qualified small businesses or existing companies in the forestry industry.
SMALL BUSINESS LOAN GUARANTY PROGRAM (SBLGP)
MISSISSIPPI DEVELOPMENT AUTHORITY
The Small Business Loan Guaranty Program (SBLGP) provides access to capital for small businesses by providing loan guarantees to banks and other small business lenders.
STRENGTHENING MISSISSIPPI ACADEMIC RESEARCH THROUGH (SMART) BUSINESS ACT PROGRAM
MISSISSIPPI INSTITUTIONS OF HIGHER LEARNING
The Strengthening Mississippi Academic Research Through (SMART) Business Rebate is available to investors who incur qualified research costs subject to a research agreement with college or research corporations in the state of Mississippi.
TAX-EXEMPT INTEREST RATE ACCESS
MISSISSIPPI BUSINESS FINANCE CORPORATION
Tax-Exempt bonds, also referred to as Industrial Revenue Bonds (IRBs) may be used to finance qualified manufacturing facilities, non-profit 501(c)(3) facilities and solid waste disposal facilities.
Missouri
MISSOURI WORKS
MISSOURI DEPARTMENT OF ECONOMIC DEVELOPMENT
This program helps businesses access capital through withholdings or tax credits to embark on facility expansions and create jobs. This program can also help businesses purchase equipment to maintain its facility in Missouri.
Eligibility Requirements
Eligible:
- For-Profit or non-profit businesses.
Not Eligible:
- Gambling establishments, store front consumer-based retail trade establishments, food and drinking places, public utilities, educational services, religious organizations, public administration, ethanol distillation or production, biodiesel production, or healthcare and social services.
- Businesses that are delinquent in payment of any non-protested taxes or other payments (state, federal, local).
- Businesses that have filed for or have publicly announced their intention to file for bankruptcy, unless certain requirements are met.
- Businesses that are relocating jobs from Johnson, Miami, or Wyandotte counties in Kansas to Jackson, Platte, Clay or Cass counties in Missouri. However, net new jobs created above a qualified company’s base employment may be eligible for benefits.
Application Information
Prior to the receipt of a DED proposal or approval of a notice of intent (“NOI”), none of the following can have occurred:
- Significant, project-specific site work at the project facility.
- Purchased machinery or equipment related to the project.
- Publicly announced its intention to make new capital investment at the project facility.
Additional information available from the Missouri Department of Economic Development.
SALES TAX EXEMPTION FOR MANUFACTURERS
MISSOURI DEPARTMENT OF ECONOMIC DEVELOPMENT
To grow the state’s manufacturing industry, a variety of producers (electrical energy, coal, gas, machinery equipment, chemicals, energy sources, materials, etc), can access a 4.225 percent state sales tax exemption as well as a local use tax.
Eligibility Requirements
Manufacturing companies in Missouri are eligible.
Application Information
For more information see the website.
Missouri Department of Economic Development
PO Box 1157
Jefferson City, MO 65101
Phone: (573)751-4962
[email protected]
Additional information available from the Missouri Department of Economic Development.
ADVANCED INDUSTRIAL MANUFACTURING ZONES ACT
MISSOURI DEPARTMENT OF ECONOMIC DEVELOPMENT
As a means to develop or redevelop areas identified by the port authority board of commissioners, this program establishes the Port Authority AIM Zone Fund consisting of 50% of the state withholding tax from new jobs within the zone after development or redevelopment has begun.
AFFORDABLE HOUSING ASSISTANCE PROGRAM (AHAP)
MISSOURI HOUSING DEVELOPMENT COMMISSION
The Affordable Housing Assistance Program (AHAP) housing production tax credit is used as an incentive for Missouri businesses and/or individuals to participate in affordable housing production.
AGRICULTURAL PRODUCTS UTILIZATION CONTRIBUTOR TAX CREDIT
MISSOURI DEPARTMENT OF AGRICULTURE
The Missouri Agricultural and Small Business Development Authority is authorized to grant an Agricultural Product Utilization Contributor Tax Credit in an amount up to 100 percent of a contribution from a person, partnership, corporation, trust, limited liability company or other donor. The contribution must be made to the authority to be used for financial or technical assistance to rural agricultural business concepts as approved by the authority.
ALTERNATIVE LOAN PROGRAM
MISSOURI DEPARTMENT OF AGRICULTURE
The Missouri Department of Agriculture offers direct loans through the Agriculture Development Fund to finance the production, processing and marketing needs of an alternative agricultural enterprise.
ANIMAL WASTE TREATMENT LOAN PROGRAM
MISSOURI AGRICULTURAL AND SMALL BUSINESS DEVELOPMENT AUTHORITY
The Livestock Waste Management System Loan Program funds construction, renovation or relocation of an approved waste management system.
BEGINNING FARMER LOAN PROGRAM
MISSOURI DEPARTMENT OF AGRICULTURE
The Agricultural and Small Business Development Authority administers a program that enables lenders to receive federally tax-exempt interest on loans made to beginning farmers.
BROWNFIELD REMEDIATION PROGRAM
MISSOURI DEPARTMENT OF ECONOMIC DEVELOPMENT
The program provides state income tax credits for eligible remediation costs. The Department of Economic Development (DED) may provide a grant for public infrastructure or a loan or guarantee for other project costs.
BUILD (BUSINESS USE INCENTIVES FOR LARGE-SCALE DEVELOPMENT)
MISSOURI DEPARTMENT OF ECONOMIC DEVELOPMENT
The BUILD program is a tax credit to reimburse a company funded loan and provides a financial incentive for the location or expansion of large business projects.
BUSINESS FACILITY HEADQUARTERS TAX CREDIT PROGRAM
MISSOURI DEPARTMENT OF ECONOMIC DEVELOPMENT
New or existing Missouri companies looking to embark on locating or expanding their headquarters in the state may be able to access incentives based on the number of news jobs and investment associated with the project.
CHAPTER 353 TAX ABATEMENT
MISSOURI DEPARTMENT OF ECONOMIC DEVELOPMENT
Chapter 353 Tax Abatement is an incentive that can be utilized by cities to encourage the redevelopment of blighted areas by providing real property tax abatement.
CHAPTERS 100 SALES TAX EXEMPTION, PERSONAL PROPERTY
MISSOURI DEPARTMENT OF ECONOMIC DEVELOPMENT
A program that gives a sales tax exemption on tangible personal property leased by the company from the city/county. The city/county uses its own tax exempt status to extend to the purchase and ownership of certain real property, construction materials, and tangible personal property in order to provide a lower cost benefit to a business locating or expanding in its community.
CHARCOAL PRODUCERS CREDIT
MISSOURI DEPARTMENT OF NATURAL RESOURCES
Any person, firm or corporation who engages in the business of producing charcoal or charcoal products in the state of Missouri shall be eligible for a tax credit on income taxes otherwise due pursuant to chapter 143, except sections 143.191 to 143.261, as an incentive to implement safe and efficient environmental controls.
DATA CENTER SALES TAX EXEMPTION PROGRAM
MISSOURI DEPARTMENT OF ECONOMIC DEVELOPMENT
The purpose of the program is to incentivize the location and expansion of data centers in the State of Missouri by providing an exemption, for a period of time, of the sales and use taxes associated with a variety of activities necessary to build a new facility or expand an existing facility.
DISABLED ACCESS TAX CREDIT (DAC)
MISSOURI DEPARTMENT OF REVENUE
The DAC is available to Missouri small businesses that have access expenditures that exceed the $10,250 federal credit limit.
DOWN PAYMENT LOAN PROGRAM
MISSOURI DEPARTMENT OF AGRICULTURE
The Down Payment Loan program can be used by a qualifying Missouri producer to more readily secure a loan from a participating lender, either providing the full down payment, or supplementing the down payment amount available.
DOWNTOWN REVITALIZATION
MISSOURI DEPARTMENT OF ECONOMIC DEVELOPMENT
This program offers opportunity for eligible Missouri communities to engage in revitalization efforts to renew downtown areas and restore them to their former prominence as a center of community activity.
ELIGIBLE FACILITY BORROWER
MISSOURI DEPARTMENT OF AGRICULTURE
The Missouri State Treasurer’s Office administers the Missouri FIRST Program, one of the nation’s most utilized low interest loan programs. In order to promote Missouri’s economic growth and development, below-market rate deposits of state funds are placed in Missouri financial institutions, allowing eligible borrowers to obtain low interest loans from that institution. Using the program allows lenders to lower the interest rates to the borrower by about 2-3 percent.
FAMILY FARM BREEDING LIVESTOCK LOAN PROGRAM
MISSOURI DEPARTMENT OF AGRICULTURE
The Missouri Agricultural and Small Business Development Authority provides Missouri tax credits to Missouri’s lenders who make breeding livestock loans to small farmers.
FOOD INSECURE COST-SHARE GRANT PROGRAM
MISSOURI DEPARTMENT OF AGRICULTURE
The FY24 Food Insecure Urban Agriculture Matching Grant Program is funded through the Missouri Department of Agriculture. This grant is for reimbursement of expenses associated with addressing food insecurity in urban areas. Projects should support farmers markets, apiary programs and other economic development initiatives, and they should increase food production and availability.
GLOBAL MARKET ACCESS PROGRAM
MISSOURI DEPARTMENT OF ECONOMIC DEVELOPMENT
A cost-share program that allows eligible Missouri companies to participate in specific events designed to create export sales. Increased export sales create a public benefit through their positive effect on Missouri’s economy including job creation and increased wealth for Missouri’s families.
HISTORIC PRESERVATION TAX CREDIT PROGRAM
MISSOURI DEPARTMENT OF ECONOMIC DEVELOPMENT
The Historic Preservation Tax Credit Program incentivizes developers to maintain the integrity of Missouri historic buildings by giving them new life.
INDUSTRIAL INFRASTRUCTURE GRANT
MISSOURI DEPARTMENT OF ECONOMIC DEVELOPMENT
This program helps communities develop public infrastructure that allows industries to locate new facilities, expand existing facilities, prevent the closing of a facility or the relocation of a facility outside the state. Grant funds may be used for public streets, water or sewer lines, engineering and other public facilities necessary to support the private sector project. A public entity must own the facilities to be funded.
INNOVATION, DEVELOPMENT, AND ENTREPRENEURIAL ADVANCEMENT (IDEA) FUND
MISSOURI TECHNOLOGY CORPORATION
MTC’s IDEA Fund promotes the formation and growth of businesses that engage in the transfer of science and technology into job creation. The fund provides venture capital-based financing to eligible businesses through three programs that correspond to the stages of growth for promising early-stage high-growth potential businesses: (1) pre-seed capital stage financing; (2) seed capital stage financing; and (3) venture capital growth stage financing. Funding decisions are made on a quarterly basis through a multi-tiered, competitive application process.
MEAT PROCESSING FACILITY INVESTMENT TAX CREDIT PROGRAM
MISSOURI DEPARTMENT OF AGRICULTURE
The Meat Processing Facility Investment Tax Credit was enacted to stimulate investment in the meat processing industry in Missouri and to enable the livestock industry to capture more value in the form of further processed meat products. Meat processing facilities located in Missouri that construct, improve, or acquire buildings, facilities, or equipment used exclusively for meat processing after January 1, 2022 are eligible to apply to the program.
MISSOURI ADVANCED INDUSTRIAL MANUFACTURING (AIM) ZONES
MISSOURI DEPARTMENT OF ECONOMIC DEVELOPMENT
The Port Authority AIM Zone Fund consists of 50% of the state withholding tax from new jobs within the zone after development or redevelopment has begun. The money in the fund must be used for expenses to continue expanding, developing, and redeveloping zones identified by the port authority board of commissioners.
MISSOURI AGRIBUSINESS REVOLVING LOAN FUND
MISSOURI DEPARTMENT OF AGRICULTURE
The Missouri Agricultural and Small Business Development Authority’s (MASBDA) Missouri Agribusiness Revolving Loan Fund offers financing to Qualifying Missouri Agribusinesses, such as value-added agriculture enterprises, agriculture support businesses, marketers or retailers of agricultural products, and businesses with emerging agricultural technology.
MISSOURI BUILDING ENTREPRENEURIAL CAPACITY (MOBEC)
MISSOURI TECHNOLOGY CORPORATION
To create more home-grown, high-tech companies, Missouri must support entrepreneurs and foster innovation. It is for this reason that the Missouri Building Entrepreneurial Capacity program (MOBEC) is a cornerstone of MTC’s investment strategy. Through the MOBEC grant program, MTC makes strategic investments that expand the support system for entrepreneurs that are commercializing new technologies or that enhance the capacity of Missouri to grow its innovation economy.
MISSOURI IDEA FUNDS
MISSOURI DEPARTMENT OF ECONOMIC DEVELOPMENT
The Missouri IDEA (Innovation, Development, and Entrepreneurship Advancement) Funds promote the formation and growth of businesses that engage in the transfer of science and technology into job creation.
MISSOURI MARKET DEVELOPMENT PROGRAM
MISSOURI DEPARTMENT OF NATURAL RESOURCES
The Missouri Market Development Program helps companies make effective use of the high-quality materials recovered from household and industrial waste. The result is economic and environmental improvement at all levels.
MISSOURI ONE START
MISSOURI DEPARTMENT OF ECONOMIC DEVELOPMENT
Missouri One Start provides a tailored workforce strategy to address your unique business needs. At no cost to eligible businesses, our team at Missouri One Start will customize services ranging from pre-employment screening and recruitment to designing job-specific training both during and after the onboarding process. Our comprehensive workforce program ensures you have the right workforce, with the right skillset, at the right time.
MISSOURI VALUE-ADDED AGRICULTURE GRANT PROGRAM
MISSOURI DEPARTMENT OF AGRICULTURE
The Missouri Value-Added Agriculture Grant Program provides grants for projects that add value to Missouri agricultural products and aid the economy of a rural community
MULTIFAMILY RENTAL PRODUCTION
MISSOURI HOUSING DEVELOPMENT COMMISSION
The Missouri Housing Development Commission (MHDC) provides funding to qualified nonprofit organizations and for-profit developers for the acquisition and rehabilitation or new construction of affordable rental housing for low and moderate income families in the form of below market interest rate construction and permanent financing. MHDC funds are typically combined with Low-Income Housing Tax Credits (LIHTC) and other federal U.S. Housing and Urban Development (HUD) Programs administered by MHDC to fund affordable multifamily and senior housing developments.
MUTUAL FUND TAX APPORTIONMENT
MISSOURI DEPARTMENT OF ECONOMIC DEVELOPMENT
The program allows those certified by Department of Economic Development (DED) to utilize a more favorable state income apportionment method for tax purposes.
NEIGHBORHOOD ASSISTANCE PROGRAM
MISSOURI DEPARTMENT OF ECONOMIC DEVELOPMENT
The Department of Economic Development (DED) will issue 50% or 70% tax credits to an eligible taxpayer who makes a qualified contribution to an approved Neighborhood Assistance Program (NAP) project.
NEW GENERATION COOPERATIVE INCENTIVE TAX CREDIT PROGRAM
MISSOURI DEPARTMENT OF AGRICULTURE
The Missouri Agricultural and Small Business Development Authority provides New Generation Cooperative Incentive Tax Credits to induce producer member investment into new generation processing entities that will process Missouri agricultural commodities and agricultural products into value-added goods, provide substantial benefits to Missouri’s agricultural producers, and create jobs for Missourians.
PRIVATE ACTIVITY BOND ALLOCATION
MISSOURI DEPARTMENT OF ECONOMIC DEVELOPMENT
This program allows eligible projects to be financed by tax-exempt bond scheme.
QUALIFIED BEEF TAX CREDIT PROGRAM
MISSOURI DEPARTMENT OF AGRICULTURE
Tax credits to Missouri’s qualified beef producers who raise and background or finish Missouri born qualified beef animals to a weight of one hundred (100) pounds or more over their established baseline weight.
SINGLE ISSUE TAX-EXEMPT INDUSTRIAL REVENUE BOND PROGRAM
MISSOURI DEVELOPMENT FINANCE BOARD
The Missouri Development Finance Board Single Issue Tax-Exempt Industrial Revenue Bond Program (the Tax-Exempt Program) is an innovative method of financing. The acquisition, construction and equipping of qualified manufacturing production facilities and/or equipment, and refinancing outstanding tax-exempt bonds. The Tax-Exempt Program provides low interest rate loans to qualified borrowers through the issuance of tax-exempt revenue bonds by the Board.
SINGLE ISSUE TAXABLE INDUSTRIAL REVENUE BOND PROGRAM
MISSOURI DEVELOPMENT FINANCE BOARD
This program is an innovative method of financing the acquisition, construction and equipping of qualified facilities and/or equipment. All types of retail, commercial and industrial projects qualify for participation in the Taxable Bond Program. The program provides competitive rate loans to qualified borrowers through the issuance of private activity, industrial revenue bonds by the Missouri Development Finance Board.
SMALL BUSINESS INCUBATOR TAX CREDIT
MISSOURI DEPARTMENT OF ECONOMIC DEVELOPMENT
A program to generate private funds to be used to establish a protective business environment" (incubator) in which a number of small businesses can collectively operate."
TAX CREDIT FOR CONTRIBUTION
MISSOURI DEPARTMENT OF ECONOMIC DEVELOPMENT
The Missouri Development Finance Board is authorized to grant a tax credit equal to 50% of any eligible contribution to the Board by any taxpayer.
URBAN AGRICULTURE COST-SHARE GRANT PROGRAM
MISSOURI DEPARTMENT OF AGRICULTURE
The Urban Agriculture Matching Grant Program, funded through the Missouri Department of Agriculture, awards grants for reimbursement of expenses associated with urban agriculture. The Urban Agriculture grant encompasses projects that may include introducing a new crop or product to an area or expanding the use of or adding value to agricultural products.
URBAN FARM INVESTMENT TAX CREDIT PROGRAM
MISSOURI DEPARTMENT OF AGRICULTURE
The Missouri Agricultural and Small Business Development Authority provides Missouri tax credits based on eligible expenses incurred in the establishment or improvement of an urban farm which focuses solely on food production for sale or donation to the public.
WOOD ENERGY TAX CREDIT
MISSOURI DEPARTMENT OF ECONOMIC DEVELOPMENT
The Wood Energy Tax Credit allows individuals or businesses processing Missouri forestry industry residues into fuels a state income tax credit of $5.00 per ton of processed material (e.g., wood pellets).
WORK OPPORTUNITY TAX CREDIT (WOTC)
MISSOURI DEPARTMENT OF ECONOMIC DEVELOPMENT
The Workforce Opportunity Tax Credit (WOTC) program can reduce the cost of doing business while helping job seekers find and retain good jobs. WOTC is a Federal tax credit available to employers for hiring individuals from specific target groups who face barriers to employment.
Montana
BUSINESS LOAN PARTICIPATION PROGRAM
MONTANA DEPARTMENT OF COMMERCE
The Board of Investments - Business Loan Participation Program provides loans for equipment and real property for any business.
Eligibility Requirements
- Any business can apply.
- An approved commercial lender is required.
- Equity requirement: 25-35% of the lower of the cost or appraisal, based on the project.
Application Information
The approved lender completes and submits the application form, and then the Board of Investments completes a full underwriting credit review.
Additional information available from the Montana Department of Commerce.
DOWN PAYMENT ASSISTANCE PROGRAM
MONTANA DEPARTMENT OF COMMERCE
The Montana Down Payment Assistance Loan Program provides loans to Montana-based businesses that are in the growth phase to fund payments on necessary purchases.
Eligibility Requirements
Loan must be to a Montana-based business seeking to:
- Grow wages of existing employees, or
- Increase the number of employees or net revenues, or
- Increase the Montana tax base.
All loans must lead to direct growth of the Montana economy. Loan proceeds must be used for the purchase of equipment, real estate/building, real estate/building with improvements, and new construction. Loans to purchase existing businesses are not eligible.
To participate in the Montana Down Payment Assistance Loan Program the Lender needs to be an approved lender with the Montana Board of Investments (BOI).
Application Information
Lender submits the BOI application and Lender’s loan review. Applications will be p processed in the order in which they are received.
Additional information available from the Montana Department of Commerce.
TAX CREDITS FOR QUALIFIED EDUCATION CONTRIBUTIONS
MONTANA DEPARTMENT OF REVENUE
Montana has two similar tax credits for qualified education contributions. These credits are the Student Scholarship Organization Tax Credit and the Innovative Educational Program Tax Credit.
Eligibility and Application
Eligibility Requirements
Individuals, corporations, partnerships, small business corporations, estates, and trusts.
Application Information
Contact the Department of Revenue for more information.
Additional information available from the Montana Department of Revenue.
ALFALFA SEED PROGRAM
MONTANA DEPARTMENT OF AGRICULTURE
The Alfalfa Seed Program provides direction for research and marketing toward the continued growth of the alfalfa seed industry of Montana.
ALTERNATIVE ENERGY REVOLVING LOAN PROGRAM
THE MONTANA DEPARTMENT OF ENVIRONMENTAL QUALITY
The Alternative Energy Revolving Loan Program (AERLP) provides low-interest loans to increase investments in alternative energy systems and energy conservation measures in Montana.
BIG SKY ECONOMIC DEVELOPMENT TRUST FUND (BSTF)
MONTANA DEPARTMENT OF COMMERCE
The Big Sky Economic Development Trust Fund is a state-funded program that funds job creation projects and planning projects.
BIG SKY FILM GRANT
MONTANA FILM OFFICE
The Montana Big Sky Film Grant has been created to build partnerships with filmmakers and production companies by providing seed funding to enable the creation of jobs related to filmmaking production and support Montana™s filmmaking community while enhancing the marketing efforts of Montana€™s tourism regions, people, history, and overall quality of life.
COMMERCIAL PROPERTY ASSESSED CAPITAL ENHANCEMENT PROGRAM
MONTANA FACILITY FINANCE AUTHORITY
Across the nation, C-PACE (Commercial Property-Assessed Capital Enhancements) financing is making energy efficiency upgrades, water conservation projects, and renewable energy investments more attainable to commercial building owners.
COMMUNITY DEVELOPMENT BLOCK GRANT (CDBG) PROGRAM
MONTANA DEPARTMENT OF COMMERCE
Under the State CDBG Program, states award grants to cities, towns, and counties to develop and preserve decent affordable housing, to provide services to the most vulnerable in our communities, and to create and retain jobs. CDBG provides funding and technical assistance to help local governments plan for future growth and development, develop specific plans for individual projects, and take action to address community needs.
CONTRACTOR'S GROSS RECEIPTS TAX CREDIT
MONTANA DEPARTMENT OF REVENUE
The additional license fees withheld or otherwise paid as provided in this chapter may be used as a credit on the contractor's corporate income tax provided for in chapter 31 of this title or on the contractor's income tax provided for in chapter 30, depending upon the type of tax the contractor is required to pay under the laws of the state.
FRONTIER ANGELS
FRONTIER ANGELS
Frontier Angels is a Montana-based investment network that generates returns for our investors, our communities, and all Montanans by accelerating the growth of the tech ecosystem.
GROWTH THROUGH AGRICULTURE (GTA) PROGRAM
MONTANA DEPARTMENT OF AGRICULTURE
The Growth Through Agriculture (GTA) program is a grant and loan program to strengthen and diversify Montana's agricultural industry through development of new agricultural products and processes.
HISTORIC BUILDINGS PRESERVATION CREDIT
MONTANA DEPARTMENT OF REVENUE
The Historic Buildings Preservation Credit allows corporations, small business corporations or partnerships a credit for qualified rehabilitation expenditures.
INFRASTRUCTURE LOAN PROGRAM
MONTANA DEPARTMENT OF COMMERCE
The Montana Board of Investments provides loans to local government for infrastructure improvement used by basic sector businesses.
INFRASTRUCTURE USER FEE CREDIT
MONTANA DEPARTMENT OF REVENUE
The Infrastructure User Fee Credit is a tax credit for businesses using infrastructure improvements financed through Board of Investment grants to local government.
IRRIGATION DEVELOPMENT GRANTS
THE MONTANA DEPARTMENT OF NATURAL RESOURCES & CONSERVATION
The irrigation development grant program was created to increase the value of irrigated crops while preserving natural resources and the environment for future generations.
JUNIOR AGRICULTURE LOANS
MONTANA DEPARTMENT OF AGRICULTURE
The Montana Junior Agriculture Loan Program finances agricultural projects that involve crop and livestock production, custom farming, marketing and distribution, processing, and other financially feasible activities to youths interested in agriculture.
MICROBUSINESS FINANCE PROGRAM (MBFP)
MONTANA DEPARTMENT OF COMMERCE
The MicroBusiness Finance Program (MBFP) administers funding for the MicroBusiness Development Corporations (MBDCs) located across Montana. MBDCs work with Montana-based businesses with fewer than 10 full-time equivalent employees and gross annual revenues of less than $1,000,000.
MONTANA AGRICULTURE ADAPTABILITY PROGRAM
MONTANA DEPARTMENT OF AGRICULTURE
Grants are available to food and agriculture businesses to help increase community resilience amid the COVID-19 pandemic and other economic disruptions.
MONTANA BEGINNING FARM/RANCH LOAN PROGRAM
MONTANA DEPARTMENT OF AGRICULTURE
The Montana Beginning Farm/Ranch Loan Program is a tax-exempt bond program designed to assist beginning farmers and ranchers to acquire agricultural property at lower interest rates.
MONTANA ECONOMIC DEVELOPMENT INDUSTRY ADVANCEMENT (MEDIA) ACT
MONTANA FILM OFFICE
Montana offers transferable tax credits to qualified productions from production and post production companies that produce or complete post-production on a qualified production in Montana.
MONTANA HISTORIC PRESERVATION GRANT
MONTANA DEPARTMENT OF COMMERCE
The Montana Historic Preservation Grant (MHPG) Program is a state-funded program that is designed to support public or private entities with the preservation of historic sites, historical societies, or history museums through grant funding.
MONTANA SBIR/STTR MATCHING FUNDS PROGRAM
MONTANA DEPARTMENT OF COMMERCE
The SBIR/STTR Matching Funds Program assists technology-based Montana companies by providing additional funding that can be used for technology development or other uses during the time that the company is working on a Small Business Innovation Research or Small Business Technology Transfer (SBIR/STTR) project with a federal agency.
MONTANA TRADE SHOW ASSISTANCE PROGRAM
MONTANA DEPARTMENT OF COMMERCE
The Montana Trade Show Assistance Program grant can help fund your next domestic trade show exhibition through 50% reimbursement of your cost associated with the show, plus travel stipend.
MONTANA WHEAT AND BARELY GRANT
MONTANA DEPARTMENT OF AGRICULTURE
The Montana Wheat & Barley Committee (MWBC) administers research and marketing activities for Montana small grain crops.
MONTANA WOOD PRODUCTS REVOLVING LOAN PROGRAM
MONTANA DEPARTMENT OF COMMERCE
The Montana Wood Products Revolving Loan Fund provides financial assistance for businesses in Montana's wood products industry.
NEW INDUSTRIAL PROPERTY TAX EXEMPTION
MONTANA DEPARTMENT OF REVENUE
New industrial property, including real and personal property, is eligible for a reduced taxable valuation rate of 3% (normally 3.01% for real property) for the first three years of operation.
NEW UNDERGROUND COAL SEVERANCE TAX EXEMPTION
MONTANA DEPARTMENT OF REVENUE
The incentive provides a reduced coal gross proceeds tax rate of 2.5% for new and existing underground mines for the first 10 years of coal production.
NEW/EXPANDED INDUSTRY CREDIT
MONTANA DEPARTMENT OF REVENUE
The New/Expanded Industry Credit is 1% of the total wages paid to new employees.
NOXIOUS WEED TRUST FUND GRANTS
MONTANA DEPARTMENT OF AGRICULTURE
The Noxious Weed Trust Fund Grants were established in 1985 to support research and development of innovative weed management techniques including biological controls, and funds research and education projects.
POLLUTION CONTROL AND CARBON CAPTURE EQUIPMENT
MONTANA DEPARTMENT OF REVENUE
Air and water pollution control and carbon capture equipment placed in service after January 1, 2014 is exempt from taxation for a period of 10 years from the date of certification. Pollution control installed before January 1, 2014 or after the 10 year exemption is still eligible for a reduced taxable valuation rate of 3%.
POTATO RESEARCH AND MARKET DEVELOPMENT GRANT
MONTANA DEPARTMENT OF AGRICULTURE
Demonstration projects, applied research, and market developments designed for the Montana potato industry can be funded by this grant.
PRIMARY SECTOR WORKFORCE TRAINING GRANT PROGRAM
MONTANA DEPARTMENT OF COMMERCE
The Primary Sector Workforce Training Grant program provides an essential job training incentive for new businesses to locate in Montana and provides existing primary sector businesses with essential support to train employees in new jobs that allow the businesses to expand in Montana without leaving the state.
PROPERTY TAX ABATEMENT FOR ENERGY PRODUCTION OR DEVELOPMENT
MONTANA DEPARTMENT OF REVENUE
An eligible facility, clean advanced coal research and development equipment, and renewable energy research and development equipment may qualify for an abatement of property tax.
QUALIFIED ENDOWMENT CREDIT
MONTANA DEPARTMENT OF REVENUE
The Qualified Endowment Credit is for people and businesses making charitable donations to a qualified endowment.
RANGE IMPROVEMENT LOAN
THE MONTANA DEPARTMENT OF NATURAL RESOURCES & CONSERVATION
The Range Improvement Loan makes low-interest loans available to Montana's farmers and ranchers for rangeland improvements and development, and provides low-interest loans as an incentive for private landowners to undertake range improvement practices.
RECYCLE CREDIT/DEDUCTION
MONTANA DEPARTMENT OF REVENUE
An individual, corporation, partnership, or small business corporation my receive a credit against taxes for investments in depreciable property to collect or process reclaimable material or to manufacture a product from reclaimed material.
RENEWABLE RESOURCE GRANTS TO PRIVATE ENTITIES
THE MONTANA DEPARTMENT OF NATURAL RESOURCES & CONSERVATION
The program provides grants to private entities with projects that are an efficient use of water without diminishing the quality, provide public benefits, and will be constructed in Montana.
RENEWABLE RESOURCE LOANS TO PRIVATE ENTITIES
THE MONTANA DEPARTMENT OF NATURAL RESOURCES & CONSERVATION
Loans for private water development projects are available from the department.
RESEARCH AND DEVELOPMENT FIRMS TAX EXEMPTION
MONTANA DEPARTMENT OF REVENUE
The Research and Development Firms Tax Exemption allows all net income earned from research and development activities to be exempt from corporate license tax during its first five taxable years of activity in Montana.
RURAL ASSISTANCE LOAN PROGRAM
MONTANA DEPARTMENT OF AGRICULTURE
The Rural Assistance Loan Program provides loans to producers with modest financial investments in agriculture.
RURAL ENERGY FOR AMERICA PROGRAM RENEWABLE ENERGY SYSTEMS & ENERGY EFFICIENCY IMPROVEMENT LOANS & GRANTS IN MONTANA
USDA RURAL DEVELOPMENT
The program provides guaranteed loan financing and grant funding to agricultural producers and rural small businesses for renewable energy systems or to make energy efficiency improvements. Agricultural producers may also apply for new energy efficient equipment and new system loans for agricultural production and processing.
SMALL ELECTRICAL GENERATION EQUIPMENT EXEMPTION
MONTANA DEPARTMENT OF REVENUE
Machinery and equipment used in a qualifying generation facility that has a nameplate capacity of less than 1 megawatt of electrical energy are exempt from taxation for 5 years after the generation of electricity begins.
TAX CREDIT FOR HIRING REGISTERED APPRENTICES OR VETERAN APPRENTICES
MONTANA DEPARTMENT OF REVENUE
There is a tax credit when a taxpayer employs a registered apprentice or registered veteran apprentice who works in Montana.
TAX DEDUCTION FOR ENERGY-CONSERVING INVESTMENTS
MONTANA DEPARTMENT OF REVENUE
A taxpayer may deduct a portion of the taxpayer's expenditure for a capital investment in a building for an energy conservation purpose.
TAX EXEMPTION ON PRODUCTION RATES IMPOSED ON OIL AND NATURAL GAS
MONTANA DEPARTMENT OF REVENUE
There is a reduced tax rate for the production of oil and natural gas in Montana.
TAX EXEMPTIONS FOR SMALL BUSINESS INVESTMENT COMPANIES
MONTANA DEPARTMENT OF REVENUE
The Capital Gains and Dividends from Small Business Investment Company Tax Exemption provides that capital gains or dividend income is exempt from state individual and corporate income tax.
TRADE SHOW ASSISTANCE PROGRAM
MONTANA DEPARTMENT OF AGRICULTURE
This program assists Montana agriculture companies in exploring domestic wholesale markets by encouraging exhibition at new trade shows outside of the state. It is not only for companies new to trade show exhibition but can also be useful for established companies who are looking to exhibit at a show that they have never been to before.
VALUE-ADDED LOAN PROGRAM
MONTANA DEPARTMENT OF COMMERCE
The Value-Added Business Loan Program provides loans for equipment and real property to any value-added business.
Nebraska
CUSTOMIZED JOB TRAINING PROGRAM
NEBRASKA DEPARTMENT OF ECONOMIC DEVELOPMENT
The Customized Job Training (CJT) grant program provides assistance for employee training to businesses that create or retain quality jobs in Nebraska.
Eligibility Requirements
Training eligible for CJT grants include:
- On-the-job training
- Classroom training, onsite or at a local community college
- Tuition & fees
- Training manuals
- Other reasonable costs
Additionally, eligible training must:
- Be used only for full-time, permanent, in-state employees who are not involved in administrative support, management, or facility maintenance.
- Have both a start and end date; CJT is not intended to support ongoing programs.
- Be provided after the grant is awarded. CJT is not for training that has been completed or is currently in progress.
- Have related capital investment that can be demonstrated in the CJT application.
Application Information
An eligible business must first receive an ‘Invitation to Apply’ by our Department. The business must then complete and submit an application prior to hiring and incurring costs. The application will be provided by the Department. The Department will not reimburse the business for any employee hired or costs incurred prior to the Notice of Award/Contract Start Date.
Rose Baker
Nebraska Department of Economic Development
Community and Rural Development Division
P.O. Box 94666, 301 Centennial Mall South
Lincoln, NE 68509-4666
Phone: (402)471-1559
[email protected]
EXPRESS LOANS
NEBRASKA CENTER FOR RURAL AFFAIRS
Express Loans are designed for new and returning borrowers with credit needs of $20,000 or less. Express Loans are underwritten on credit score and two personal bank statements allowing for fast decisions.
Eligibility Requirements
Express Loans are designed for new and returning borrowers with credit needs of $20,000 or less.
Application Information
For application information see the website.
Additional information from the Nebraska Center for Rural Affairs.
IMAGINE NEBRASKA
NEBRASKA DEPARTMENT OF ECONOMIC DEVELOPMENT
ImagiNE is a performance-based incentives program that rewards you for hiring, investing, relocating and expanding in Nebraska.
Eligibility Requirements
Qualified locations are determined based on the majority of business activities conducted at the location. For a location to be qualified, the majority of business activities performed at the location must be in an eligible activity. If your business derives at least 75% of its revenue from sales to customers outside the state of Nebraska, you may qualify under the 75% export exception.
For additional information please visit the website.
Application Information
For application information see the website.
Nebraska Department of Economic Development
301 Centennial Mall
Lincoln , NE 68509
Phone: 402-471-3111
[email protected]
Additional information available from the Nebraska Department of Economic Development.
INVEST NEBRASKA LOANS
INVEST NEBRASKA
Invest Nebraska works with area lenders and non-traditional lenders to help secure needed loan funds for working capital and/or equipment purchases.
Eligibility Requirements
Interested businesses must demonstrate that they will retain or create jobs as a result of the loan, provided they meet Invest Nebraska’s underwriting requirements. Invest Nebraska reviews deals within the guidelines of rigorous underwriting principles.
Application Information
Interested companies are recommended to meet with Invest Nebraska to discuss potential debt financing.
Invest Nebraska
801 R Street, Suite 1
Lincoln, NE 68508
Phone: (402)742-7860
Additional information from Invest Nebraska.
NEBRASKA ADVANTAGE MICROENTERPRISE TAX CREDIT ACT
NEBRASKA DEPARTMENT OF REVENUE
The Nebraska Advantage Microenterprise Tax Credit Act (Act) provides a refundable individual income tax credit to individual applicants who are actively involved in operating a microbusiness based on demonstrated growth of the business over two years.
Eligibility Requirements
Eligibility requirements include:
- Active Involvement: The individual applying must be actively engaged in the operation of the microbusiness with personal involvement on a daily basis in the management and operation of the microbusiness. Any individual for whom the microbusiness is considered a passive activity for federal income tax purposes is not actively engaged in the operation of the microbusiness.
- Number of Full-time Equivalent Employees: The microbusiness must employ five or fewer full-time equivalent (FTE) employees at the time of application. DOR requires that the applicant provide documentation to show the total hours paid during the pay period that includes the first business day of the application year, or the date of application, whichever is later. DOR may request payroll registers for additional periods.
- Farmers and Livestock Operators: An application will not be accepted from an individual actively engaged in the operation of a farm or livestock operation with a net worth of more than $500,000, including any holdings by a spouse or dependent, based on fair market value. A microbusiness involved in the following activities is not subject to the $500,000 limitation for farm and livestock operations: processing or marketing of agricultural products raised by another person; aquaculture; agricultural tourism; or producing fruits, herbs, tree products, vegetables, tree nuts, dried fruits, organic crops, or nursery crops.
- Applicants Who are Dependent upon Another Person to Conduct the Business: An applicant who is required to hold a license to conduct the microbusiness and that license is controlled by another person, or is dependent on supervision by some principal, will not be considered to be operating a separate microbusiness and cannot qualify for credits under the Act. The applicant will be considered an employee of the principal. If the principal meets the requirements for the microenterprise tax credit, an application could be filed by a person actively engaged in the operation of the principal. See GIL 29-17-1 for additional information.
- E-Verify: A microbusiness under the Act must use E-Verify, a federal electronic verification program, to ensure that Nebraska employees hired after the date of application are legally able to work in Nebraska. An applicant must provide proof of registration with E-Verify at the time of application. Benefits will not be granted unless the applicant can prove that the work eligibility status of all newly hired employees employed in Nebraska has been electronically verified in a timely manner. All hours worked by, and compensation paid to, an employee who is not timely confirmed as eligible to work in Nebraska will be excluded from the calculation of any tax incentive for all periods. See Revenue Ruling 29-13-3.
Application Information
For application information see the website.
Additional information available from the Nebraska Department of Revenue.
RECOVERY LOANS
NEBRASKA CENTER FOR RURAL AFFAIRS
The Center for Rural Affairs has launched a recovery loan program to help businesses and local economies recover from the pandemic. We will deploy up to $2 million in low interest rate loans to qualified borrowers.
Eligibility Requirements
For eligibility information see the website.
Application Information
For application information see the website.
Additional information available from the Nebraska Center for Rural Affairs.
SMALL BUSINESS LOANS
NEBRASKA CENTER FOR RURAL AFFAIRS
Are starting or expanding a small business in Nebraska? Do you need just a little bit more working capital? Have you tried, but have been unsuccessful in getting a traditional bank loan? This small business loan may be your answer.
Eligibility Requirements
Small business owner in Nebraska.
Application Information
For application information see the website.
Additional information available from the Nebraska Center for Rural Affairs.
WORKER TRAINING GRANTS
NEBRASKA DEPARTMENT OF ECONOMIC DEVELOPMENT
The Worker Training Grant program is designed to support the retraining and upgrading of existing workers, currently employed in, or being trained for, high quality, long-term jobs that enhance business productivity.
Program Specifics
Nebraska Worker Training and Support Cash Fund may be used to provide training opportunities that:
- expand the Nebraska workforce by increasing the pool of highly skilled workers in Nebraska;
- support public and private job training programs designed to train, retrain, or upgrade work skills of existing Nebraska workers of for-profit and not-for-profit businesses;
- recruit workers to Nebraska; and
- train new employees of expanding Nebraska businesses.
Employers, labor organizations, or other entities providing an apprenticeship training program may apply for a worker training grant.
Contact Information
Nebraska Office of Economic Development
301 Centennial Mall S Ste 4
Lincoln , NE 68508
[email protected]
Additional information available from the Nebraska Department of Labor.
BEGINNING FARMER TAX CREDIT ACT
NEBRASKA DEPARTMENT OF AGRICULTURE
The Beginning Farmer Tax Credit Act provides a three-year tax credit to participating farmers who provide three-year leases to beginning farmers.
BEGINNING FARMER/RANCHER LOAN PROGRAM
NEBRASKA INVESTMENT FINANCE AUTHORITY
The Nebraska Investment Finance Authority Beginning" Farmer/Rancher Program assists farmers and ranchers to obtain agricultural loans at interest rates generally lower than those available in the conventional farm credit markets.
BUSINESS RETENTION & EXPANSION PROGRAM
NEBRASKA DEPARTMENT OF ECONOMIC DEVELOPMENT
The Department of Economic Development Business Retention and Expansion (BRE) Program allows discussion with existing businesses in Nebraska through personal interviews that provide important information on the local and state business climate.
CAPITAL GAINS AND EXTRAORDINARY DIVIDEND EXCLUSION
NEBRASKA DEPARTMENT OF REVENUE
Exemption from state personal income tax on capital gains realized from selling or exchanging stock of one corporation acquired by an employee with that corporation.
COMMUNITY DEVELOPMENT ASSISTANCE ACT (CDAA)
NEBRASKA DEPARTMENT OF ECONOMIC DEVELOPMENT
The Community Development Assistance Act enables DED to distribute a 40% state tax credit to businesses, corporations, insurance firms, financial institutions, and individuals that make eligible cash contributions or provide services and materials to approved community betterment projects.
COMMUNITY IMPACT GRANT PROGRAM
NEBRASKA TOURISM COMMISSION
The Nebraska Tourism Commission administers this grant program, per Nebraska Revised Statute 81-3725, to provide marketing assistance grants to communities and organizations hosting national or international-caliber events held in Nebraska that have the potential to attract a significant percentage of out-of-state visitors and to generate favorable national or international press coverage for Nebraska.
DEVELOPING YOUTH TALENT INITIATIVE
NEBRASKA DEPARTMENT OF ECONOMIC DEVELOPMENT
The Developing Youth Talent Initiative (DYTI) connects recipients with schools to engage 7th and 8th-grade students in participation in hands-on career exploration and relevant workplace learning opportunities.
DOLLAR AND ENERGY SAVING LOANS
NEBRASKA DEPARTMENT OF ENVIRONMENT AND ENERGY
Nebraska Dollar and Energy Saving Loans are offered statewide by the Nebraska Department of Environment and Energy (NDEE) and the state's lending institutions. The simple interest rates are 5%, 3.5%, or less.
ECONOMIC OPPORTUNITY PROGRAM
NEBRASKA DEPARTMENT OF TRANSPORTATION
The Nebraska Department of Transportation's rapid response Economic Opportunity Program helps attract and sustain economic growth across the State by making local grants for strategic transportation improvements that better connect businesses to Nebraska statewide, multi-modal transportation network.
ENTERPRISE ZONES
NEBRASKA DEPARTMENT OF ECONOMIC DEVELOPMENT
Enterprise Zones consist of areas of economic distress meaning conditions of high unemployment, poverty, and declining population. DED accepts applications from Nebraska cities, villages, counties, or Tribal Government Areas that wish to apply for an Enterprise Zone designation.
INTERNNE GRANT PROGRAM NEBRASKA
DEPARTMENT OF ECONOMIC DEVELOPMENT
The InternNE program facilitates relationships between Nebraska employers and college students through an online environment and offers financial assistance to companies creating new internships in Nebraska.
LOCAL OPTION MUNICIPAL ECONOMIC DEVELOPMENT (LB840)
NEBRASKA DEPARTMENT OF ECONOMIC DEVELOPMENT
The Local Option Municipal Economic Development Act (LB840, 1991) authorized incorporated cities and villages — if approved by local voters — to collect and appropriate local tax dollars, including sales and/or property tax, for economic development purposes.
MANUFACTURING MACHINERY AND EQUIPMENT SALES TAX EXEMPTION
NEBRASKA DEPARTMENT OF REVENUE
The Manufacturing Machinery and Equipment Exemption exempts from tax the sale, lease, rental, storage, use, or other consumption in Nebraska by a manufacturer of qualified manufacturing machinery, equipment, and repair labor.
NEBRASKA ACADEMIC RESEARCH AND DEVELOPMENT GRANT PROGRAM
NEBRASKA DEPARTMENT OF ECONOMIC DEVELOPMENT
The Nebraska Academic Research and Development Grant provides Nebraska businesses a matching competitive grant for research and development activities done in conjunction with a Nebraska college or university.
NEBRASKA ADVANTAGE RESEARCH AND DEVELOPMENT CREDIT
NEBRASKA DEPARTMENT OF ECONOMIC DEVELOPMENT
The 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.
NEBRASKA ADVANTAGE RURAL DEVELOPMENT ACT
NEBRASKA DEPARTMENT OF ECONOMIC DEVELOPMENT
The Nebraska Advantage Rural Development Act provides refundable tax credits rewarding investment and job creation in rural and impoverished communities.
NEBRASKA DEVELOPMENT FINANCING (INDUSTRIAL DEVELOPMENT)
NEBRASKA INVESTMENT FINANCE AUTHORITY
The Nebraska Investment Finance Authority provides tax exempt bonds that make it possible for jurisdictions to offer their constituents financing at below market interest rates.
NEBRASKA HISTORIC TAX CREDIT
NEBRASKA STATE HISTORICAL SOCIETY
The Nebraska Historic Tax Credit provides a tax credit for eligible expenditures incurred for improvements to qualifying historically significant real property and is limited to a $1 million tax credit per project.
NEBRASKA INNOVATION FUND PROTOTYPE GRANTS
NEBRASKA DEPARTMENT OF ECONOMIC DEVELOPMENT
The Nebraska Innovation Fund (NIF) Prototype Grant is a matching grant that provides financial assistance for product development and proof-of-concept activities to businesses operating in Nebraska.
NEBRASKA SEED FUND
NEBRASKA DEPARTMENT OF ECONOMIC DEVELOPMENT
The Nebraska Seed Investment program is an equity investment program to support early-stage Nebraska-based businesses.
NEBRASKA TOURISM MARKETING GRANT PROGRAM
NEBRASKA TOURISM COMMISSION
Grants are given for three purposes: Promotion of an Event, Promotion of a Region, and General Marketing. The maximum grant amount that can be requested is $25,000.
NEW MARKETS JOB GROWTH INVESTMENT TAX CREDIT
NEBRASKA DEPARTMENT OF REVENUE
The New Markets Job Growth Investment Act allows individuals, corporations, estates and trusts, financial institutions, and insurance companies to claim nonrefundable, nontransferable tax credits for an investment in a qualified community development entity (CDE).
RENEWABLE CHEMICAL PRODUCTION TAX CREDIT
NEBRASKA DEPARTMENT OF ECONOMIC DEVELOPMENT
Tax credits under the Renewable Chemical Production Tax Credit Act are intended to stimulate the emerging biotechnology and bioproducts sector in Nebraska and incentivize the development of renewable chemicals.
RURAL WORKFORCE HOUSING FUND
NEBRASKA DEPARTMENT OF ECONOMIC DEVELOPMENT
The Rural Workforce Housing Fund (RWHF) provides competitive matching grants to non-profit development organizations who administer workforce housing investment funds.
SITE AND BUILDING DEVELOPMENT FUND
NEBRASKA DEPARTMENT OF ECONOMIC DEVELOPMENT
The Site and Building Development Fund (SBDF) creates favorable conditions for improving the industrial readiness of the state.
SMALL BUSINESS INNOVATION RESEARCH/SMALL BUSINESS TECH TRANSFER (SBIR/STTR) GRANT
NEBRASKA DEPARTMENT OF ECONOMIC DEVELOPMENT
The Nebraska Small Business Innovation Research / Small Business Technology Transfer Initiative (SBIR/STTR) is a matching grant that provides financial assistance to Nebraska businesses that have received a Federal SBIR or STTR grant.
STATE TRADE EXPANSION PROGRAM
NEBRASKA DEPARTMENT OF ECONOMIC DEVELOPMENT
The State Trade Expansion Program (STEP) helps to increase the number of Nebraska small businesses that export, and increases export value for those already doing so. The program is made possible by funding to the State of Nebraska from the U.S. Small Business Administration.
TAX INCREMENT FINANCING
NEBRASKA DEPARTMENT OF ECONOMIC DEVELOPMENT
Tax increment financing (TIF) in Nebraska is designed to finance the public costs associated with a private development project. The increased property taxes generated by the improvement of blighted property are used to pay for the financing of community redevelopment/TIF projects.
VENTURE DEBT FUND
INVEST NEBRASKA
Venture Debt Financing provides a bridge prior to a round of fundraising or an extension of runway post-funding.
Nevada
NEVADA LOCAL EMERGING SMALL BUSINESS CERTIFICATION PROGRAM
NEVADA GOVERNOR'S OFFICE OF ECONOMIC DEVELOPMENT AND U.S. DEPARTMENT OF DEFENSE
The Local Emerging Small Business (ESB) Program is a certification program for Nevada small businesses interested in doing business with state and local government agencies.
Eligibility Requirements
- Submit a completed application to the Nevada Governor's Office of Economic Development;
- Be a Local Business;
- Be in existence, operational and operating for a profit;
- Maintain its principal place of business in Nevada;
- Be in compliance with all applicable licensing and registration requirements;
- Not be a subsidiary or parent company belonging to a group of firms that are owned or controlled by the same persons if, in aggregate, the group of firms does not qualify pursuant to program requirements;
- Be qualified as either a Tier 1 Local Emerging Small Business or a Tier 2 Local Emerging Small Business.
Application Information
- Interested businesses seeking to obtain certification as an ESB will submit a complete application to GOED (online below) and attest that the business satisfies the requirements of the program
- Applications will request general information about the business including address, legal structure, date established, capabilities, gross receipts for the last 3 years, and number of employees
- Applications will be reviewed upon review and notification of determination within 90 days
- There is NO fee to apply. Application and renewal are free
Additional information available from the Nevada Governor's Office of Economic Development.
NEVADA SSBCI COLLATERAL SUPPORT PROGRAM
NEVADA GOVERNOR’S OFFICE OF ECONOMIC DEVELOPMENT AND NEVADA BATTLE BORN GROWTH ESCALATOR, INC
The collateral support program steps in when borrowers have everything in place to obtain a loan, aside from sufficient assets to pledge as collateral. It enhances the collateral position of borrowers by depositing cash into accounts at participating lending institutions, which will then be pledged as collateral on behalf of the borrower on a transaction-by-transaction basis
Eligibility Requirements
- Borrower must fall under the definition of a firm, which creates or retains jobs associated with the base economic industries. More specifically, a company must have a unique Federal Employer Identification number and participate in one or more of the following: mining, manufacturing, research and development, whole sale and retail trade, film and digital media production, office operations or a business that is qualified information technology or green technology business.
- Borrower must have 250 employees or less and otherwise comply with all state and federal program requirements.
- Borrower must be engaged with a private lender for the purpose of acquiring a commercial loan for a diversification project and must exhibit a collateral shortfall according to the lender’s analysis.
- Borrower must grow the number of existing employees or open a new operation with the intent of hiring new employees.
Application Information
Potential borrowers must complete a loan application with Nevada financial institution.
Staff from GOED will be in contact with your institution to confirm receipt of application materials and answer any questions. We will process applications on a timely basis. The staff will contact you as soon as a loan decision has been reached. If approved, you will be required to sign the State Small Business Credit Initiative Cash Collateral Deposit Agreement, outlining the terms of the agreement.
Contact Information
Nevada Governor’s Office of Economic Development
808 West Nye Lane
Carson City, NV 89703
Phone: 775-687-9911
Fax: 775-687-9924
Additional information available from the Nevada Governor’s Office of Economic Development.
NEVADA SSBCI LOAN PARTICIPATION PROGRAM
NEVADA GOVERNOR’S OFFICE OF ECONOMIC DEVELOPMENT AND NEVADA BATTLE BORN GROWTH ESCALATOR, INC
This intermediary small business lending program works with Banks and Credit Unions to help expand access to capital and reduce lending risks to the Bank or Credit Union while lowering borrowing costs of the Small Business and nonprofit organizations.
Eligibility Requirements
- Eligible Nevada Small Businesses must have less than 500 employees.
- The entire proceeds of the credit facility must be used for businesses and credit facilities within the state of Nevada.
- A focus of the program is to reach all business owners across Nevada regardless of race, location, background, or gender identity. The Program encourages eligible Small Businesses that are at least 51 per cent owned by individuals who certify that they belong to a group that has faced historical and/or systematic barriers to accessing credit, including but not limited to people of color, women, veterans, and rural residents to apply.
Application Information
During the loan application process Nevada Small Businesses should ask their Bank or Credit Union to contact Mendy Elliott at [email protected]. Banks or Credit Unions wishing to participate in the Program should also contact Mendy Elliott at [email protected].
Additional information available from the Council for Community and Economic Research.
SILVER STATE WORKS EMPLOYEE HIRING INCENTIVES
NEVADA JOBCONNECT BUSINESS SERVICE OFFICE
To build a trained workforce that enhances Nevada's economic stability and benefits participating employers.
Eligibility Requirements
For an employer to be eligible to participate, the employer must have an established, verified, paid-to-date Unemployment Insurance (UI) account, as well as a valid business license if required by the city or county in which the employer conducts business. Eligible employers also include city, state and federal entities, as long as the positions are permanent.
Application Information
Contact the Nevada JobConnect Business Service Office for more information.
Nevada JobConnect Business Service Office
Silver State Works
1929 North Carson Street
Cason City, NV 89701
Phone: 775-284-9660
Fax: 775-684-0466
[email protected]
Additional information available from Silver State Works.
SMALL BUSINESS LENDING
RURAL NEVADA DEVELOPMENT CORPORATION
The Rural Nevada Development Corporation (RNDC) is a non-profit development corporation formed in January of 1992 to serve the fifteen counties of Rural Nevada as well as the rural portions of Clark and Washoe Counties and the twenty-seven Native American Indian Tribes of Nevada. RNDC has established significant loan capital, which it lends to small businesses in need of expansion or start-up financing.
Eligibility Requirements
The Board of Directors has targeted the use of the funds for businesses in need of expansion financing, fixed assets, purchases, working capital, and start-up businesses. The RNDC loan funds significantly address the capital gap for rural businesses, and leverage bank participation in rural business loans.
Application Information
Complete the online application.
Additional information available from the Rural Nevada Development Corporation.
$1 BILLION INVESTMENT TAX ABATEMENT
NEVADA GOVERNOR'S OFFICE OF ECONOMIC DEVELOPMENT
Substantial partial abatements from Sales & Use, Modified Business, and Property (Real and Personal) Taxes are available to companies with at least $1 billion in capital investment in Nevada.
$3.5 BILLION INVESTMENT TAX ABATEMENT
NEVADA GOVERNOR'S OFFICE OF ECONOMIC DEVELOPMENT
Substantial partial abatements from Sales & Use, Modified Business, and Property (Real and Personal) Taxes are available to companies with at least $3.5 billion in capital investment in Nevada
ECONOMIC DEVELOPMENT RATE RAIDER
NEVADA GOVERNOR'S OFFICE OF ECONOMIC DEVELOPMENT
Provides electricity discounts to be applied for 8 years on rates up to 25 megawatts of power capacity used by a company within a project site pursuant to a contract with a term of 10 years.
INDUSTRIAL DEVELOPMENT REVENUE BOND (IDRB) PROGRAM
NEVADA DEPARTMENT OF BUSINESS AND INDUSTRY
Industrial Development Revenue Bonds (IDRBs) are a type of tax-exempt municipal bond/public debt instrument. Proceeds are utilized by private manufacturing companies interested in locating a facility in Nevada or expanding an existing Nevada-based business. These bonds, issued by the Nevada Department of Business & Industry, are structured to assist a borrower achieve the lowest cost of capital. The size of the expansion, the number of new jobs created, and high wages are important factors in weighing the approval of the application along with the ability of the applicant to pay back the bonds.
MODIFIED BUSINESS TAX ABATEMENT
NEVADA GOVERNOR'S OFFICE OF ECONOMIC DEVELOPMENT
An abatement of 50 percent of the 1.378% rate on quarterly wages exceeding $50,000.
NEVADA APEX ACCELERATOR
NEVADA GOVERNOR'S OFFICE OF ECONOMIC DEVELOPMENT AND U.S. DEPARTMENT OF DEFENSE
Many businesses consider the idea of selling their services and/or products to the government much too complicated and overwhelming. In today’s marketplace, the government could become your best customer. Nevada APEX Accelerator helps simplify the process and cut through the red tape, connecting Nevada businesses with lucrative opportunities.
NEVADA AVIATION PARTS ABATEMENT
NEVADA GOVERNOR'S OFFICE OF ECONOMIC DEVELOPMENT
Partial abatements from Personal Property and Sales & Use Taxes are available to aviation companies that locate or expand their business in Nevada.
NEVADA BROWNFIELDS PROGRAM REVOLVING LOAN FUND
NEVADA DEPARTMENT OF CONSERVATION AND NATURAL RESOURCES
The Nevada Brownfields Program operates an $800,000 revolving loan fund (RLF) to assist property owners or developers cover clean-up costs for sites with environmental contamination. The program provides secured loans at below-market rates with flexible repayment options. Interested parties can apply for RLF funding at any time.
NEVADA DATA CENTER TAX ABATEMENTS
NEVADA GOVERNOR'S OFFICE OF ECONOMIC DEVELOPMENT
A partial abatement from personal property tax and sales and use tax are available to data center companies that locate or expand their business in Nevada.
NEVADA NEW MARKETS TAX CREDIT PROGRAM
NEVADA DEPARTMENT OF BUSINESS AND INDUSTRY
The NMTC program can help Nevada businesses and nonprofit organizations gain access to gap funding to support businesses located in economically distressed communities. The NMTC program has developed a public-private partnership to attract private investment on terms that may otherwise be unavailable to these communities.
NEVADA OPPORTUNITY ZONES TAX CREDITS
NEVADA GOVERNOR'S OFFICE OF ECONOMIC DEVELOPMENT
The Opportunity Zone program, established in The Tax Cuts and Jobs Act of 2017, is a tax incentive that runs on two tracks first, Governors in each state nominate opportunity zones, which are low-income community census tracts that could benefit from significant private investment and second, once the zones are certified by the U.S. Treasury Department, interested private investors must invest in opportunity funds, specialized vehicles that can then be utilized to invest in the certified opportunity zones.
NEVADA SSBCI VENTURE CAPITAL PROGRAM, BATTLE BORN VENTURE
BATTLE BORN GROWTH ESCALATOR VENTURE PROGRAM
NEVADA STATE COLLATERAL SUPPORT PROGRAM
NEVADA GOVERNOR'S OFFICE OF ECONOMIC DEVELOPMENT
Nevada Collateral Support Program supplies cash collateral accounts to Nevada financial institutions. These accounts will cover all or a portion of a calculated collateral shortfall as determined by the lending institution.
PERSONAL PROPERTY TAX ABATEMENT
NEVADA GOVERNOR'S OFFICE OF ECONOMIC DEVELOPMENT
An abatement on personal property not to exceed 50% over a maximum of 10 years.
REAL PROPERTY TAX ABATEMENT FOR RECYCLING
NEVADA GOVERNOR'S OFFICE OF ECONOMIC DEVELOPMENT
A partial abatement of real property (land and buildings) tax is available for businesses and facilities using recycled material that have as a primary purpose the conservation of energy or the substitution of fossil sources for other sources of energy.
SALES AND USE TAX ABATEMENT
NEVADA GOVERNOR'S OFFICE OF ECONOMIC DEVELOPMENT
Sales and use tax abatement on qualified capital equipment purchases, with reductions in the rate to as low as 2%.
TRANSFERABLE TAX CREDIT FOR FILM AND OTHER PRODUCTIONS
NEVADA FILM OFFICE
A production company that produces a qualified production in the state in whole or in part may apply to the Office of Economic Development for a certificate of eligibility for transferable tax credits for any qualified direct production expenditures.
TRANSFERABLE TAX CREDITS FOR LEGISLATIVELY APPROVED QUALIFIED PROJECTS
NEVADA GOVERNOR'S OFFICE OF ECONOMIC DEVELOPMENT
If in any fiscal year the Office does not approve an amount of transferable tax credits equal to the total amount authorized by paragraph (a) or (b) of subsection 1, the remaining amount of transferable tax credits must be carried forward and made available for approval during subsequent fiscal years ending on or before June 30, 2025.
WORKFORCE INNOVATIONS FOR THE NEW NEVADA (WINN)
NEVADA GOVERNOR'S OFFICE OF ECONOMIC DEVELOPMENT
One of the opportunities for companies looking to expand or locate their business operation in Nevada is the States ready and willing workforce, as well as Nevada’s commitment to create training programs that will equip workers with the skills needed by our employers. WINN represents the first workforce development training program of its kind in Nevada and is a commitment to businesses to arm them with the skilled employees that they need. The program is administered by GOED in coordination Nevada System of Higher Education, the Governor’s Office of Workforce Innovations, the Department of Employment, Training and Rehabilitation, and the Nevada Department of Education. Since its inception, WINN has made more than $13 million in strategic investments to enable accelerated on-ramps to high-skill and high wage jobs in New Nevada.
New Hampshire
BOND FINANCING
New Hampshire Business Finance Authority
The Bond Financing Program reduces interest expense on large capital projects with tax-exempt bonds issued by the BFA.
Eligibility Requirements
Eligible Project Types:
- Manufacturing Facilities and Equipment
- Solid Waste Disposal
- Water Infrastructure and Water Systems
- Non-Profit Organizations
- Airports
- Mass Commuting Facilities
- Sewage Facilities
- Certain Energy Generation Facilities
Eligible Uses of Bond Proceeds:
- Acquisition, renovation, and construction of buildings and land
- Acquisition of new equipment
- Minimum project size approximately $2,000,000
- When purchasing an existing facility, 15% of bond proceeds must be applied to renovation of the facility
- Bond proceeds cannot be used to refinance existing debt
- Bonds are not obligations of the BFA or the State of New Hampshire. The borrower is legally obligated to repay them.
Application Information
How to Apply:
- Begin by calling the BFA to discuss the project
- We will help you determine if the project is eligible
- The BFA can also make introductions to lenders familiar with the tax-exempt bond process
- Once the project is ready to proceed, fill out the online application
- Once a financing commitment has been obtained the project will be approved by the BFA board of directors
- Tax-exempt bonds are subject to final approval by the governor and executive council
Additional information available from the New Hampshire Business Finance Authority.
BUSINESS ENERGY LOANS
NEW HAMPSHIRE BUSINESS FINANCE AUTHORITY
The BFA's Business Energy Conservation RLF provides direct loans to improve energy efficiency in New Hampshire work places. Loans have flexible underwriting standards and loan terms.
Eligibility Requirements
- Minimum loan size $100,000
- Non-profits and for-profits are both eligible
- Loan proceeds must be used for energy-saving initiatives
- Borrower must demonstrate ability to repay financing
- No minimum collateral requirements
Application Information
- Apply online or call the BFA with any questions
- All loans subject to underwriting and approval from BFA staff and board of directors
- Applicants required to provide 3rd party energy audit documenting projected energy savings
Additional information available from the New Hampshire Business Finance Authority.
CLEAN DIESEL PROGRAM
NEW HAMPSHIRE DEPARTMENT OF ENVIRONMENTAL SERVICES
The New Hampshire Clean Diesel Grant Program is a program funded by EPA through the Diesel Emissions Reduction Act (DERA) with additional funding from the New Hampshire VW Mitigation Trust. The program is managed by the Air Resources/Technical Services Bureau of NHDES. Projects eligible for funding include idle reduction technologies, engine replacement, vehicle and equipment replacement, and aerodynamic technologies.
Eligibility Requirements
Eligible applicants include state and local government agencies and departments, school districts, public and private transit companies, marine operators, and private businesses which are listed as in good standing with the New Hampshire Secretary of State.
Previous participation in the State Clean Diesel program does not preclude applicants from selection.
Diesel vehicles, engines, and equipment which fall into the following categories are eligible for upgrade projects through this program:
- Buses (Transit, Class 5-8 Shuttle, and School Buses of Type A, B, C, and D);
- Trucks (Medium-duty or heavy-duty—Class 5 through Class 8, including Drayage);
- Marine Engines (e.g., ferries, commercial fishing boats);
- Locomotives; and
- Non-road engines, equipment, or vehicles used in:
- Construction (e.g., backhoes, loaders, forklifts),
- Handling of cargo (including at a port or airport),
- Agriculture,
- Mining, or
- Energy production (including stationary generators and pumps).
Eligible diesel emissions reduction solutions include certified vehicle or equipment replacements, certified engine replacements, certified remanufacture systems, verified idle reduction technologies, verified aerodynamic technologies, and verified low rolling resistance tires.
Application Information
Contact the Department of Environmental Services for more information.
Ricky Dicillo
Tim White
New Hampshire Department of Environmental Services
29 Hazen Drive
Concord, NH 03302-0095
Phone: 603-271-8330
[email protected]
Additional information available from the New Hampshire Department of Environmental Services.
CLEAN ENERGY FUND
NEW HAMPSHIRE COMMUNITY DEVELOPMENT FINANCE AUTHORITY
CDFA’s Clean Energy Fund provides technical and financial resources for municipalities, businesses and nonprofits to invest in energy efficiency improvements and renewable energy projects that reduce costs.
Eligibility Requirements
Eligible Applicants
- New Hampshire businesses, non-profits, and municipalities.
Eligibility Requirements
- While each loan fund includes its own set of specific eligibility requirements, all Clean Energy Fund loans are generally expected to meet the guidelines.
Permitted Uses of Funds
- Clean Energy Funds may be used for most energy savings measures and renewable energy technologies (some specific limitations may apply). Non-energy saving measures connected to an energy upgrade (such as roof replacements for solar and asbestos removal for boiler replacements) may be allowable in the loan request as long the minimum energy requirements are met. The cost of an energy audit may also be allowable in the loan request.
Application Information
Pre-application consultation with CDFA staff is required before submitting a formal application. To discuss your project and loan application, please reach out to the program contact.
Applications are available on the CDFA Grants Management System (GMS) throughout the year and Clean Energy Loan funds are available to eligible applicants and applications on a first-come, first-served basis.
Additional information available from the New Hampshire Community Development Finance Authority.
EARLY STAGE CAPITAL
NEW HAMPSHIRE BUSINESS FINANCE AUTHORITY
The BFA has partnered with three organizations to deliver critical early stage capital to the newest and most innovative companies in the state.
Eligibility & Application Requirements
Applications for investment are made through the partners below. Contact the partner organization for specific information.
The Granite Fund
- BFA invested $4,500,000 via a public/private partnership
- Private sector provided an additional $20,000,000
- Fund is currently fully invested
Vox Health Fund
- A new venture capital fund focusing on life sciences and digital health
- Actively making new investments
- Provides guidance and mentorship in addition to capital
Millworks Fund II
- Partnership between BFA and 40 angel investors to provide start-up capital and guidance to new NH companies
- Investing $600,000 per year via the TechOut and AlphaLoft accelerator program
- Focus is on companies ready to scale up operations in NH
Additional information available from the New Hampshire Business Finance Authority.
ECONOMIC REVITALIZATION ZONE TAX CREDIT
NEW HAMPSHIRE DEPARTMENT OF BUSINESS AND ECONOMIC AFFAIRS
The Economic Revitalization Zone tax credit offers a short term business tax credit for projects that improve infrastructure and create jobs in designated areas of a municipality.
Eligibility Requirements
For a business to qualify for an ERZ tax credit it must create a least one (1) new job in the state, and meet the following criteria:
- The business must be physically located in an approved ERZ.
- Investment in plant or equipment must be made directly by the business applying for the ERZ tax credit.
- Jobs created must be full time, direct employees, and not be contracted or temp jobs.
- The investment and the job creation must take place within one calendar year.
Application Information
To apply for the tax credits you must fill out form ERZ-2 available from the Department of Business and Economic Affairs website.
The deadline to apply is February 10th of the year following the tax year.
Additional information available from the New Hampshire Department of Business and Economic Affairs.
GAP FINANCING
NEW HAMPSHIRE BUSINESS FINANCE AUTHORITY
The BFA provides direct loans to fill the gap of what a bank can provide through the New Hampshire network of Regional Development Corporations (RDC). The RDC network provides risk-tolerant loans to companies in every corner of the state.
Eligibility Requirements
- Varies by Regional Development Corporation
- Loan size typically $10,000 to $1,000,000
Application Information
Apply online or call BFA with any questions. Credit decision made jointly by BFA and RDC partner.
Additional information available from the New Hampshire Business Finance Authority.
LOAN PARTICIPATION
NEW HAMPSHIRE BUSINESS FINANCE AUTHORITY
The BFA’s loan participations are subordinated to the bank, immediately improving your security position.
Eligibility Requirements
Eligibility
- The business must have annual revenues of less than $5 million
- Participation amount $100,000 to $5,000,000
- Maximum loan size $20,000,000
- Loan must be for business purposes
- Commercial real estate, equipment, and working capital are all eligible
- Passive real estate, business acquisitions, and owner cash-outs prohibited
- No fixed collateral requirements
Application Information
- Loan Participation requests are submitted by the bank to the BFA
- Apply online
- Approval time is typically 24 hours
Additional information available from the New Hampshire Business Finance Authority.
RESEARCH AND DEVELOPMENT TAX CREDIT
DEPARTMENT OF REVENUE ADMINISTRATION
This program provides a research and development credit against business taxes paid to the State of New Hampshire, including wages paid to employees of the business organization for services rendered in New Hampshire wh