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 which qualify and are reported as a credit by the business organization under IRS code.
Eligibility Requirements
Business organizations that have expenditures made during the fiscal year for qualified manufacturing research and development. "Qualified manufacturing research and development" expenditures are wages paid to employees of the business organization for services rendered in New Hampshire which qualify and are reported as a credit by the business organization under section 41 of the Internal Revenue Code. More specifically, "qualified manufacturing research and development" expenditures are the wage amounts attributable to New Hampshire that make up lines 5 or 24, of the business organization's Federal Form 6765.
Application Information
The Research and Development Tax Credit application, Form DP-165 is available online.
Additional information available from the New Hampshire Department of Revenue Administration.
SMALL BUSINESS ENERGY AUDIT FUND
NEW HAMPSHIRE COMMUNITY DEVELOPMENT FINANCE AUTHORITY
CDFA’s Small Business Energy Audit Fund (EAF) provides grants to cover 75% of the cost of comprehensive energy audits for New Hampshire agricultural producers and rural small businesses.
Eligibility Requirements
Eligible applicants include New Hampshire rural for-profit businesses and agricultural producers. Eligibility requirements include:
- A for-profit business in good-standing, with a place of business in New Hampshire.
- Located in eligible rural areas.
- Please note this restriction does not apply to agricultural producers.
- A “Small business” as defined according to Small Business Administration (SBA) guidelines.
Application Information
Pre-application consultation with CDFA staff is required before submitting a formal application. To discuss your project and grant application, please contact CDFA. All applications must be completed and submitted via CDFA's Grants Management System.
Additional information available from the New Hampshire Community Development Finance Authority.
SMALL BUSINESS ENERGY AUDIT FUND
NEW HAMPSHIRE COMMUNITY DEVELOPMENT FINANCE AUTHORITY
The Community Development Investment Program enables New Hampshire's businesses to donate funds or property, in lump sum payments or pledged over a predetermined period, to fund economic development and housing projects throughout the state.
Eligibility Requirements
Yes, any business with employees in New Hampshire pays the Business Enterprise Tax against their payroll.
Application Information
Because of its annual limit on donations, acceptance in this program is highly competitive. As funds are available, CDFA will issue a request for proposals.
Additional information available from the New Hampshire Community Development Finance Authority.
TEMPORARY LOANS TO BUSINESSES
NEW HAMPSHIRE BUSINESS FINANCE AUTHORITY
The BFA offers a flexible direct lending product designed to bridge the gap for businesses dealing with unexpected and temporary expenses.
Eligibility Requirements
- Minimum loan size $100,000
- Maximum Loan Size $2,000,000
- Non-profits and for-profits are both eligible
- 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
- All loans require approval of the NH Executive Council
Additional information available from the New Hampshire Business Finance Authority.
WORKINVESTNH
NEW HAMPSHIRE EMPLOYMENT SECURITY
This program allows companies to partner with the State of New Hampshire to train new workers or retrain longtime employees.
Eligibility Requirements
WorkInvestNH is:
- Available to businesses or co-applicants physically located in NH and businesses intending to physically locate in New Hampshire
- The business must pay quarterly taxes into the NH Unemployment Trust Fund
- The business must be in compliance with state laws and regulations
- Available for existing workers who are either residents of New Hampshire or who work at a business or co-applicant that is located or intends to locate within the state
Acceptable use of grant funds:
- Structured, on-site laboratory or classroom training
- Basic Skills
- Technical Skills
- Quality Improvement
- Safety
- Management and Supervision
- English as a Second Language
- Other training programs that enhance the state’s workforce development
Application Information
Complete the application (see the application forms below)
- Application Package with additional Proposed Training Forms as needed
- Vendor Quotes after each Proposed Training worksheet
- Certificate of Good Standing
- Proof of Workers Compensation
Additional information available from the New Hampshire Employment Security.
BROWNFIELDS PROGRAM
NEW HAMPSHIRE DEPARTMENT OF ENVIRONMENTAL SERVICES
The New Hampshire Brownfields Program encourages the redevelopment of contaminated properties through a variety of approaches that address the uncertainty and liability concerns associated with brownfields sites. These approaches include: Brownfields Covenant Program, Brownfields Assessment Program, Cleanup Revolving Loan Fund, and the NHDES/Grantee Brownfields Partnership.
CAPITAL ACCESS PROGRAM (CAP)
NEW HAMPSHIRE BUSINESS FINANCE AUTHORITY
Capital Access Program (CAP) is a simple and flexible credit enhancement for small businesses utilized statewide by New Hampshire banks.
CDBG ECONOMIC DEVELOPMENT GRANTS
NEW HAMPSHIRE COMMUNITY DEVELOPMENT FINANCE AUTHORITY
CDFA administers the State of New Hampshire’s annual federal allocation of Community Development Block Grant funds for eligible municipalities.
COMMERCIAL EV CHARGING STATION INCENTIVES
NEW HAMPSHIRE ELECTRIC CO-OP
The NHEC offers incentives for EV charging stations.
CREDIT ENHANCEMENTS & LOAN GUARANTEES
NEW HAMPSHIRE BUSINESS FINANCE AUTHORITY
The program allows participating banks or lending institutions to mitigate risk on term loans and lines of credit. The BFA can provide up to a 75% guarantee on lines of credit and up to a 90% guarantee on term loans.
PATHWAY TO WORK
NEW HAMPSHIRE EMPLOYMENT SECURITY
The Pathway To Work Initiative is a voluntary program to assist unemployed claimants start their own businesses. Allows eligible unemployed claimants to continue to receive their unemployment benefits while working full time to start businesses in New Hampshire.
New Jersey
DIRECT LOANS
NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY
New Jersey businesses in need of financing and committed to job creation/retention may be eligible for direct loans through the Economic Development Authority when conventional financing is not available.
Eligibility Requirements
Businesses must commit to the creation or retention of one full-time job for every $65,000 of EDA exposure within two years.
Application Information
Non-refundable fees are required. Application fee: $1,000.
Commitment fee: 0.875% of loan amount.
Closing fee: 0.875% of loan amount.
Division of Taxation Tax Clearance Certificate required. Certificates may be requested through the State of New Jersey’s Premier Business Services (PBS) portal online. Please see website for more details.
Additional information available from the New Jersey Economic Development Authority.
ECONOMIC RECOVERY TAX CREDIT
NEW JERSEY DIVISION OF TAXATION
A taxpayer that is engaged in the conduct of business with in a qualified municipality may apply to receive a tax credit against the amount of tax otherwise imposed under the Corporation Business Tax Act equal to: $2,500 for each new full-time position at that location in credit year one and $1,250 for each new full-time position at that location in credit year two.
Eligibility Requirements
Employee of the taxpayer does not include an individual with an ownership interest in the business, that individual's spouse or dependents, or that individual's ancestors or descendants.
Full-time position means a position filled by an employee of the taxpayer for at least 140 hours per month on a permanent basis, which does not include employment that is temporary or seasonal.
New full-time position means a position that did not exist prior to credit year one. New full-time positions shall be measured by the increase, from the twelve month period preceding credit year one to the measured credit year, in the average number of full-time positions and full-time position equivalents employed by the taxpayer at the location within a qualified municipality. The hours of employees filling part-time positions shall be aggregated to determine the number of full-time position equivalents.
Part-time position means a position filled by an employee of the taxpayer for at least 20 hours per week for a t least 3 months during the credit year.
Application Information
Submit application and proof of qualification with yearly taxes.
Contact Information
New Jersey Division of Taxation
P.O. Box 245
Trenton, NJ 08695-0245
Phone: (609) 292-6400
Additional information available from the New Jersey Division of Taxation.
EMPLOYER PARTNERSHIP PROGRAM
NEW JERSEY DEPARTMENT OF LABOR AND WORKFORCE DEVELOPMENT
The Employer Partnership Program helps you grow your business by allowing you to train and hire individuals tailored to your specific business needs.
Eligibility Requirements
- Your new hires must be unemployed residents of New Jersey who are currently receiving unemployment benefits or have exhausted their benefits within the past 52 weeks.
- Workers must be paid $12.00 an hour or more.
- Positions must be for full-time (at least 32 hours per week) and long-term employment.
- Provide substantive on-the-job training at your location, on your equipment, under your guidelines. The length of training is determined by the participant's demonstrated skills gap and the job description.
- Submit trainee evaluations and payroll records for wage reimbursement, up to 50%.
- Depending on the complexity of skills and the qualifications of your new employee, the contract period will range from 4 to 26 weeks.
Application Information
To apply, contact your local business representative.
Additional information available from the New Jersey Department of Labor and Workforce Development.
MAIN STREET MICRO BUSINESS LOAN PROGRAM
NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY
The Maine Street Micro Business Loan Program makes financing of up to $50,000 available to businesses with annual revenues in the most current fiscal year of no greater than $1,500,000, and 10 full-time employees or less at time of application.
Eligibility Requirements
Nonprofit, for profit, and home-based* micro businesses interested in applying for the Main Street Micro Business Loan must meet the following eligibility requirements:
- Must have less than $1.5 million in annual gross revenue for the most current fiscal year (to the extent the business has annual revenues)
- Must have a credit score of at least a 600 from at least one owner to be eligible.
- Must have no more than 10 full-time employees
- All employees must work in New Jersey as evidenced by WR-30 filings. There is no minimum employee number and sole proprietors are eligible.
- Must be legally registered to do business in New Jersey, with a business location (other than a home office) in New Jersey
- Must be in existence, as evidenced by date of formation/incorporation, and in operation for at least six months prior to the date of application
- Must be in good standing with the New Jersey Department of Labor and Workforce Development (LWD) and NJ Department of Environmental Protection at the time of application to be eligible for a micro business loan
- Must provide a current tax clearance prior to approval to demonstrate the applicant is in good standing with the NJ Division of Taxation.
- One loan per business entity (verified by the business’s employer identification number, or EIN)
Applicants and recipients of the original Micro Business Loan are eligible for this loan if they meet all eligibility requirements. A business entity with multiple locations (that is, all locations operate under only one EIN) will be limited to one application under this new product (under the sole business entity).
ELIGIBLE USES
- Future operating expenses, which may be held as working capital to fund such future operating expenses. Examples include payroll, rent, mortgage, utilities, taxes, and inventory
- Future purchases of equipment as long as installation and construction costs do not exceed $1,999.99
*Home-based businesses cannot use loan, proceeds for any residential costs (i.e. home mortgage/lease payments)
The following are not eligible uses:
- Refinancing of existing debt
- Personal, non-business obligations or costs incurred by
- related entities
- Construction
- Equipment requiring installation or construction costs in excess of $1,999
- Rolling stock – no cars, trucks, or vans can be purchased
Application Information
Application Fee: $100 (non-refundable) at time of application
Closing Fee: $400
For application information see the website.
Additional information available from the New Jersey Economic Development Authority.
MANUFACTURING EQUIPMENT AND EMPLOYMENT INVESTMENT TAX CREDIT
NEW JERSEY DIVISION OF TAXATION
The Manufacturing Equipment portion is limited to 2% (4% if applicable) of the investment credit base of qualified equipment placed in service in the tax year, up to a maximum credit for the tax year of $1,000,000.
Eligibility Requirements
Qualified equipment means machinery, apparatus or equipment acquired by purchase or lease for use or consumption by the taxpayer directly and primarily in the production of tangible personal property by manufacturing, processing, assembling or refining, having a useful life of four or more years, and placed in service in New Jersey and machinery, apparatus or equipment acquired by purchase for use or consumption directly and primarily in the generation of electricity to the point of connection to the grid, or in the generation of thermal energy, having a useful life of four or more years, placed in service in this State.
Qualified equipment also includes property that a company may transfer from an out of state facility to a location within New Jersey. If a corporation moves equipment that otherwise would qualify for the credit from a location outside the state to a location within the state of New Jersey, such equipment would be eligible for the credit.
Application Information
Submit application with yearly taxes.
Contact Information
New Jersey Division of Taxation
50 Barrack St.
Trenton, NJ 08608
Phone: (609) 292-6400
Additional information available from the New Jersey Division of Taxation.
NEW JERSEY ACCELERATE
NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY
New Jersey Accelerate encourages the participation of New Jersey Entrepreneurs in high-quality accelerator programs, which increase the growing young, innovative companies in the state.
Eligibility Requirements
The New Jersey Economic Development Authority (NJEDA) will welcome all accelerators that meet the program criteria and evaluate them during the pilot on a first-come, first-served basis. The accelerator entity must meet the minimum following criteria:
The Accelerator is best-in-class, defined by the NJEDA’s evaluation criteria (see eligibility checklist)
- The Accelerator has a US presence accessible for a site visit, etc.
- The Accelerator will provide financial investment in some form to at least one participant company per cohort
- The Accelerator must have graduated a minimum of two cohorts prior to NJ Accelerate approval
- The Accelerator Program has a consideration for at least one sector including: advanced manufacturing, information/technology, lifesciences, finance and insurance, clean energy, food and beverage, advanced transportation, food and beverage, film and digital media with a preference for all accelerator programs that have a focus on supporting female entrepreneurs and founders of color.
For more information see the website.
Application Information
New Jersey Accelerate is a two-step process to encourage the engagement of accelerator programs in New Jersey, while facilitating the participation of businesses in these accelerator programs:
- Accelerator operators apply to the NJEDA to be pre-qualified as an “Approved Accelerator”.
- Approved Accelerator graduates are eligible for financial assistance from the NJEDA in NJ.
Additional information available from the New Jersey Economic Development Authority.
NEW JOBS INVESTMENT TAX CREDIT
NEW JERSEY DIVISION OF TAXATION
A credit is allowed against the corporation business tax to taxpayers making qualified investments in new or expanded business facilities that result in new jobs, provided the number and compensation of the new jobs meet minimum requirements. For more information please visit the program website.
Eligibility Requirements
To qualify for the credit, the investment of small or mid-size business taxpayers must result in the creation of at least five new jobs. The investment of other taxpayers must result in the creation of at least 50 new jobs, with a median annual compensation of the threshold amount established for the particular tax year. (N.J.S.A. Sec. 54:10A-5.6(a)) Also, in order to claim this tax credit, the average book value of all real and tangible personal property in New Jersey must have increased over the prior year. The resulting new jobs must have a minimum median annual compensation of $44,800 for tax years beginning in 2016.
Contact Information
Department of Taxation
Trenton, NJ
Phone: (609) 292-6400
Additional information available from the New Jersey Division of Taxation.
OPIOID RECOVERY EMPLOYMENT PROGRAM STATE PATHWAYS TO RECOVERY
NEW JERSEY DEPARTMENT OF LABOR
This grant seeks to deepen the network of employment supports for those affected by the opioid epidemic. It seeks to improve opportunities and incentives for opioid-impacted individuals by providing basic skills instruction, workforce readiness (employability skills) instruction and work experience which will emphasize re-entry into the workplace. The program will seek to facilitate effective transitions by the targeted population into employment and retention.
Eligibility Requirements
To be eligible for this NGO, the applicant must satisfy the following requirements:
- Must be a non-profit, for-profit entity, governmental entity (including state or municipal agencies) or institution of higher education;
- Pursuant to N.J.S.A. 52:32-44, a for-profit applicant and each proposed subcontractor must have a valid Business Registration Certificate on file with the Division of Revenue. (This statutory requirement does not apply to non-profit organizations, private colleges and universities, or state and municipal agencies.); and
- Required to comply with the Affirmative Action Requirements of Public Law 1975, c. 124 (N.J.A.C. 17:27) and the requirements of the Americans with Disabilities Act of 1991 (P.L. 101-336).
Application Information
Successful proposals must be responsive to the NGO and meet all technical capacity and fiscal viability requirements as described. Applications are submitted and awards are managed through NJDOL’s online grant system, the System for Administering Grants Electronically (SAGE) IGX. Applications are submitted online, via IGX at Njdol.intelligrants.com.
Applicants must determine who will serve as the Authorized Official (AO) for this grant application. The AO must:
- Be authorized to enter into a contractual agreement on behalf of the company.
- Read and understand the FY2022 Notice of Grant Opportunity (NGO).
- Register (create an account) in the System to Administer Grants Electronically (SAGE) IGX and submit a Letter of Intent (LOI) to apply for FY2022 State Pathways to Recovery grant.
The AO may delegate completion of the application to others by giving access in IGX, but should be aware that responsibility for the contract remains with the AO for the life of the grant. Applicants interested in applying for the State Pathways to Recovery grant are encouraged to submit a LOI to express interest in the grant opportunity. This notification allows NJDOL to have sufficient resources in place to carefully review each proposal and to obtain access to the application in IGX. Applicants should complete, sign and submit a letter of intent as soon as the applicant is interested in applying for the grant opportunity.
A sample LOI can be found in Attachment I. The completed and signed LOI should be emailed as an attachment to [email protected].
Incorrect or missing information or failure to register in IGX will delay the processing of the LOI, which will delay access to the online application. Once the Authorized Official is registered and approved in IGX, applicants can then proceed to enter the required information and documentation in the IGX system.
Additional information available from the New Jersey Department of Labor.
PREMIER LENDER PROGRAM
NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY
The New Jersey Economic Development Authority partners with banks to overcome the financial obstacles that can stall the growth and expansion of New Jersey-based businesses through the Premier Lender Program.
Eligibility Requirements
Business applicants looking to qualify for a loan from a Premier Lender must:
- Be in operation for at least two full years
- Commit to creating one new job per $65,000 in EDA commitment (except for manufacturers, which must commit to maintain and/or create one job per $50,000)
- Have 1.1X Debt Coverage Ratio
- Have 100% loan-to-value for real estate and 90% for equipment
Other credit criteria apply.
Application Information
Non-refundable fees are required. For additional information see the website. It is encouraged that interested applicants speak with a Business Development Officer before starting the application process. To do so, use the contact information listed below.
Additional information available from the New Jersey Economic Development Authority.
SMALL BUSINESS FUND
NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY
An expedited approval process helps the Small Business Fund program provide below-market rate financing to small, minority-owned or women-owned businesses and not-for-profit corporations through direct loans or guarantees, with the choice of a variable or fixed interest rate.
Eligibility Requirements
Small Businesses:
- Located in New Jersey
- In operation for at least one full year
Not-for-Profits:
- Located in New Jersey
- In operation for at least three full years
Application Information
Non-refundable fees are required. For costs and additional information see the website. It is encouraged that interested applicants speak with a Business Development Officer before starting the application process. To do so, use the contact information listed below.
Additional information available from the New Jersey Economic Development Authority.
SMALL BUSINESS IMPROVEMENT GRANT
NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY
The Small Business Improvement Grant offers reimbursement for costs associated with making building improvements or purchasing new furniture, fixtures and equipment.
Eligibility Requirements
Businesses and nonprofits may be reimbursed for capital improvements, or purchase and/or installation of new furniture, fixtures, and equipment. Landlords are not eligible.
Applicants are limited to one application per federal Employer Identification Number (EIN). Applicants operating from multiple locations under a single EIN would be limited to one application under the sole EIN, but may pool project costs from multiple locations into a single application.
Applicants:
- Rent or own and operate from facility.
- Meet SBA definition of a Small Business – determined by employee count and NAICS code.
- Project cost must be at least $5,000.
- Project must have commenced on or after March 9, 2020 and within the 2 years prior to your application date.
- Payment must have been made within the 2 years prior to your application date.
- Provide a current tax clearance certificate prior to approval.
- Be in good standing with Department of Labor and Department of Environmental Protection.
- Certify at time of application that they are not in default of any other EDA or State assistance.
- Certify at application the applicant is willing to pay wages that are the greater of $15/hour or 120% of the minimum wage rate. Tipped employees are required to be paid only 120% of minimum wage rate.
- Remain in the location for at least two years for grants up to $25,000, or at least four years for all other grant award amounts.
Improvement project must meet the following eligibility requirements:
- Interior or exterior building improvements, or purchase and/or installation of furniture, fixtures, and equipment (FFE).
- Total project cost must be at least $5,000.
- Work must be complete on or after March 9, 2020, and or within 2 years of application date.
- Projects with total costs over $50,000 are subject to Green Building Standards for lighting and/or mechanical work.
- Projects utilizing contractors with 4 or more employees (total workforce, not specific to project) may be subject to Affirmative Action requirements.
Home-based businesses are not eligible for reimbursement for renovation or improvement projects. Applicants are responsible for all applicable local approvals (i.e. zoning and building permits). If applicant leases space, then landlord’s permission to make improvements is required.
“Capital improvements” shall not include site acquisition; vehicles and heavy equipment not permanently located in the building, structure, facility, or improvement; any capital improvement for which the business received any grant financial assistance from any State source; costs of a lease, including any capital lease; or any soft costs.
Application Information
Approval Fee: $100. Please see the website for further information.
Additional information available from the New Jersey Economic Development Authority.
UPSKILL: NEW JERSEY INCUMBENT WORKER TRAINING GRANTS
NEW JERSEY DEPARTMENT OF LABOR AND WORKFORCE DEVELOPMENT
NJ Incumbent Worker Training Grant funds are competitively awarded to New Jersey employers to provide up to 50% cost reimbursement assistance to train incumbent frontline employees to meet the current and future occupational skill requirements of available high wage, middle- skill and high-skill jobs in New Jersey.
Eligibility Requirements
Entities That Can Apply for Funding:
New Jersey applicants:
- Individual employers, including those operating small to medium-sized businesses;
- An employer organization, labor organization, community-based organization or faith-based organization;
- An industry-specific consortium.
Contact Information
New Jersey Department of Labor and Workforce Development
1 John Fitch Plaza
Trenton, NJ 08625-0110
Phone: 609-984-4437
[email protected]
Additional information available from the New Jersey Department of Labor and Workforce Development.
URBAN ENTERPRISE ZONE PROGRAM (UEZ)
NEW JERSEY DEPARTMENT OF COMMUNITY AFFAIRS
The Urban Enterprise Zone (UEZ) Program offers participating businesses incentives that encourage business growth and stimulate local economies.
Eligibility Requirements
- Registered with the State of New Jersey
- Located within one of the 32 designated zones
- Be in tax compliance with the State of NJ
- Certified by the New Jersey UEZ program
Application Information
All Certification Applications must be entered online using the UEZ Business Certification System. To access this system and to read step-by-step instructions see the website.
Additional information available from the New Jersey Department of Community Affairs.
AFFORDABLE HOUSING TRUST FUND - INNOVATION PROJECTS 2022
NEW JERSEY DEPARTMENT OF COMMUNITY AFFAIRS
This fund will provide financing for innovative projects, as well as funds for studies, plans and technical services for the development of affordable housing.
AFFORDABLE HOUSING TRUST FUND 2021
NEW JERSEY DEPARTMENT OF COMMUNITY AFFAIRS
The Affordable Housing Trust Fund Program (AHTF) is to provide municipalities, for-profit and non-profit developers with financial assistance to advance the development of low and moderate income affordable housing across the State and to maintain those units as affordable for a minimum of 20 years.
ANGEL INVESTOR TAX CREDIT PROGRAM
NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY
All investors that invest in a qualifying NJ emerging technology business may benefit from a tax credit through the Angel Investor Tax Credit Program.
ASPIRE PROGRAM
NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY
Aspire is a gap financing tool to support commercial, mixed use, and residential real estate development projects that replaces the Economic Redevelopment and Growth Grant (ERG).
BOND FINANCING
NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY
Long-term financing is available to manufacturing companies, 501(c)(3) not-for-profit organizations, or exempt facilities in New Jersey under the Bond Financing Program.
BROWNFIELDS IMPACT FUND
NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY
Under the Brownfields Impact Fund, the NJEDA will make low-interest loans available to for profit organizations as well as low-interest loans and grant funding available to public sector and non-profit organizations.
DIGITAL MEDIA TAX CREDIT PROGRAM
NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY
Provides a transferable credit against the corporation business tax and the gross income tax for qualified expenses incurred for the production of certain digital media content in New Jersey.
EDISON INNOVATION FUND
NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY
The Edison Innovation Fund is a group of financial incentive vehicles brought together for the purpose of providing convertible debt financing to New Jersey's early-stage life sciences or technology companies that have the potential for commercial success.
EMERGE PROGRAM
NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY
The Emerge Program, created under the Economic Recovery Act (ERA) of 2020, encourages economic development in Governor Murphy’s priority sectors and in targeted communities across the New Jersey. The program provides per-job tax credits to projects that invest private capital into the state and create new good-paying jobs (or retain a large number of good-paying jobs).
ENVIRONMENTAL OPPORTUNITY ZONES (EOZ)
NEW JERSEY DIVISION OF TAXATION
The purpose of the Environmental Opportunity Zone Property Tax Exemption (EOZ) exemption is to encourage the remediation, revitalization and redevelopment of certain contaminated property which has been vacant or underutilized. The exemption requires a financial agreement, as per authorizing ordinance, between you and the municipality.
FILM TAX CREDIT PROGRAM
NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY
The New Jersey Film Tax Credit Program provides a tax credit of 30% of qualified film production expenses incurred after July 1, 2018 against the corporation business tax and the gross income tax for certain expenses incurred for the pre-production, production, and post-production of certain films in New Jersey.
GARDEN STATE GROWTH ZONE - BUSINESS LEASE INCENTIVE
NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY
The Garden State Growth Zone (GSGZ) Business Lease Incentive (BLI) offers reimbursement of a percentage of annual lease payments to for profit businesses and non-profit organizations in eligible areas that plan to lease between 500 – 5,000 s.f. of new or additional market-rate, first-floor office, industrial or retail space for a minimum 5-year term.
HAZARDOUS DISCHARGE SITE REMEDIATION FUND (HDSRF)
NEW JERSEY DEPARTMENT OF ENVIRONMENTAL PROTECTION
Businesses operating in New Jersey, individuals, or municipalities that are required to, or volunteered to, perform remediation and/or cleanup of contaminated and underutilized sites may be eligible to secure financing through loans and/or grants under the Hazardous Discharge Site Remediation Fund (HDSRF).
HISTORIC SITE PROPERTY TAX EXEMPTION
NEW JERSEY DIVISION OF TAXATION
Certain buildings owned by non-profit organizations, certified as an historic site, may be eligible for a property tax exemption.
LOANS TO LENDERS PROGRAM
NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY
The Loans to Lenders Program makes capital available to financial intermediary organizations who can effectively reach small businesses in local markets.
MUNICIPAL LANDFILL CLOSURE AND REMEDIATION REIMBURSEMENT PROGRAM
NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY
Eligible developers seeking financial assistance in the closure, remediation and redevelopment of municipal landfill sites in New Jersey may qualify for reimbursement of 75% of the closure or cleanup costs associated with the remediation and redevelopment of a municipal solid waste landfill.
NATURAL GAS SALES & USE TAX EXEMPTION
NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY
The program provides an energy sales tax exemption for the retail sales of electricity and natural gas and their transport to manufacturing businesses in Salem County.
NEIGHBORHOOD REVITALIZATION TAX CREDIT PROGRAM
NEW JERSEY DEPARTMENT OF COMMUNITY AFFAIRS
The Neighborhood Revitalization Tax Credit Program (NRTC) provides business entities up to a 100 percent tax credit for funds provided to nonprofit entities carrying out comprehensive revitalization plans.
NEW JERSEY ASSET ACTIVATION PLANNING GRANT
NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY
The New Jersey Asset Activation Planning Grant Program will provide grants of up to $50,000 directly to grantees for pre-development planning that will demonstrate viability of projects that activate under-utilized public assets that benefit their communities and the regional economy.
NEW JERSEY INNOVATION EVERGREEN FUND (NJIEF)
NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY
The New Jersey Innovation Evergreen Fund (NJIEF) is a partnership with the private sector that will raise and invest funds in New Jersey-based companies to address New Jersey’s shortfalls in venture capital funding and create the conditions necessary for entrepreneurs to succeed.
OFFSHORE WIND TAX CREDIT PROGRAM
NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY
The Offshore Wind Tax Credit Program provides reimbursement for capital investments in industry-specific facilities located in New Jersey.
PRE-APPRENTICESHIP IN CAREER EDUCATION (PACE) PROGRAM
NEW JERSEY DEPARTMENT OF LABOR AND WORKFORCE DEVELOPMENT
The purpose of the PACE Program is to prepare individuals to enter and succeed in Registered Apprenticeship programs. These pre-apprenticeship programs have a documented partnership with at least one Registered Apprenticeship program sponsor and together, they expand the participant's career pathway opportunities with industry-based training coupled with classroom instruction. The program will drive economic development through skills and educational attainment and create pathways to better-paying careers and advanced credentials.
PREMIER CDFI PROGRAM
NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY
The New Jersey Economic Development Authority partners with CDFIs to overcome the financial obstacles that can stall the growth and expansion of New Jersey-based businesses through the Premier Lender Program.
PRESERVE NEW JERSEY HISTORIC PRESERVATION FUND
NEW JERSEY DEPARTMENT OF COMMUNITY AFFAIRS
The Preserve New Jersey Historic Preservation Fund was established by legislation in 2016 to provide an annual source of matching grants from the state’s corporate business tax for historic preservation projects. The Preserve New Jersey Fund continues the work of the Garden State Historic Preservation Trust Fund (2000-2012) and the Historic Preservation Bond Program (1990-1997). Since 1990, more than $145 million in matching grants has been awarded to worthy historic preservation construction and planning projects throughout the state.
REDEVELOPMENT AUTHORITY PROJECT TAX CREDIT
NEW JERSEY DIVISION OF TAXATION
A business subject to the corporation business tax and conducted at a location within a project associated with the New Jersey Urban Development Corporation is entitled to a credit against the entire net income component of the tax for each new employee who lives in the same residence as their place of work.
SALES AND USE TAX EXEMPTION (STX) PROGRAM
NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY
A company with 1,000 or more employees that needs to make purchases for construction and renovation of a new business location may be eligible for a sales tax exemption certificate for purchases of machinery, equipment, furniture and furnishings, fixtures and building materials (other than tools and supplies) for placement at the project location until the new facility is functional.
TECHNOLOGY BUSINESS TAX CERTIFICATE TRANSFER PROGRAM
NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY
The Technology Business Tax Certificate Transfer Program enables qualified, unprofitable New Jersey-based technology and biotechnology companies with fewer than 225 employees to sell a percentage of net operating losses (NOL) and research and development (R&D) tax credits to unrelated profitable corporations.
VENTURE CAPITAL INVESTMENT FUND
NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY
Equity fund investments focus on early-stage investment funds and include funds that invest in companies with less than $3 million in annual revenues, a traditional minimum threshold for equity investments.
WOMEN AND MINORITY GROUPS IN CONSTRUCTION TRADES PROGRAM
NEW JERSEY DEPARTMENT OF LABOR AND WORKFORCE DEVELOPMENT
The Women and Minority Groups in Construction Trades grant will assist in providing greater employment opportunities for females and minorities, residing in New Jersey, by providing pre-apprenticeship training, workforce readiness/employability, and a structured work experience which will emphasize vocational-based training for entry-level skills in the construction trades.
New Mexico
HIGH WAGE JOBS TAX CREDIT
NEW MEXICO TAXATION AND REVENUE DEPARTMENT
A taxpayer who is an eligible employer may apply for and receive a tax credit for each new high-wage economic-base job. The credit amount equals 8.5% of the wages and benefits paid for each new economic-base job created, up to $12,750 per job.
Eligibility Requirements
Qualified jobs:
- Pays at least $40,000/year in a community with a population of less than 60,000
- Pays at least $60,000/year in a community with a population of 60,000 or more
- Occupied for at least 44 weeks by the employee
Qualified employers:
- Are growing with employment greater than the previous year; and
- Are eligible for the Job Training Incentive Program
Qualified employees:
- Must be a resident of New Mexico.
- Cannot be a relative of the employer or own more than 50% of the company and cannot own, directly or indirectly, 50% in value of outstanding stock.
Application Information
Email the application along with RPD-41376, Employee Eligibility Detail Report, and all of the supporting documentation to the program contact.
Additional information available from CliftonLarsonAllen.
JOB MENTORSHIP TAX CREDIT
NEW MEXICO TAXATION AND REVENUE DEPARTMENT
A New Mexico business may claim a credit equal to fifty percent of gross wages paid to qualified students who are employed by the business during the taxable year.
Eligibility Requirements
Career preparation education program means a work-based learning or school-to-career program designed for secondary school students to create academic and career goals and objectives and find employment in a job meeting those goals and objectives.
New Mexico business means a corporation that carries on a trade or business in New Mexico and that employs in New Mexico fewer than three hundred full-time employees during the taxable year.
Qualified student means an individual who is at least fourteen years of age but not more than twenty-one years of age who is attending full time an accredited New Mexico secondary school and who is a participant in a career preparation education program sanctioned by the secondary school.
Application Information
To claim the credit, the taxpayer must submit the form and all required attachments with its personal or corporate income tax return. Form RPD-41280, Job Mentorship Tax Credit Certificate, must be attached for each qualified student employed and included in the claim.
Additional information available from the New Mexico Taxation and Revenue Department.
JOB TRAINING INCENTIVE PROGRAM
NEW MEXICO ECONOMIC DEVELOPMENT DEPARTMENT
The Job Training Incentive Program (JTIP) funds classroom and on-the-job training for newly-created jobs in expanding or relocating businesses for up to 6 months.
Eligibility Requirements
Eligibility for JTIP funds depends on the business, the role of the newly-created jobs in that business, and the trainees themselves.
Businesses eligible for consideration include:
- Companies that manufacture or produce a product in New Mexico
- Non-retail service companies that export a substantial percentage of services out of state (50% or more of revenues and/or customer base). Software development companies, customer support centers and product testing laboratories are three examples of businesses that have qualified in this category
- Certain green industries
The company must be financially sound and must be creating new jobs as a result of expansion or relocation to the state of New Mexico.
Businesses in certain industries are not eligible. Some examples are agriculture, construction, extractive industries, gambling, health care and retail.
Jobs eligible for funding through JTIP must be:
- Full time (minimum of 32 hours per week)
- Year-round
- Directly related to the creation of the product or delivery of the service. (1 in 5 positions applied for may be outside product/service creation). Typical examples include marketing, sales, and general administration
- Manufacturing examples: production worker, electronic equipment assembler, first line supervisor, industrial engineering technician, R&D scientists, and engineers
- Service examples: customer service representative, environmental engineering technician, web developer, software developer
- Intern positions may be eligible
To be eligible for funding under JTIP, trainees must:
- Be new hires to the company
- Have been residents of the state of New Mexico for at least 1 year at any time prior to employment. Trainees that do not meet the one-year residency requirement may be eligible if hired into high-wage jobs.
- Not have left high school in the 3 months prior to employment, unless they have graduated or completed a HSE (High School Equivalency)
The following are eligible for reimbursement:
- A portion of trainee wages (50-75% depending on location) for up to 6 months
- Jobs with entry wages that align with the High Wage Job Tax Credit are eligible for an additional 5% reimbursement
- Companies that hire trainees who have graduated within the past twelve months from a NM institution of higher education or who are U.S. Veterans may be eligible for an additional 5% reimbursement above the standard rates.
- Cost of custom classroom training at a public educational institution
Application Information
Fill out the Eligibility Questionnaire to begin the JTIP application process. A member of JTIP staff will contact the company to determine eligibility and discuss the program in detail.
Each company which requests funds from JTIP must submit a proposal. The proposal establishes eligibility under the program, its viability as a business and the relationship of the new jobs to business expansion. A training plan is required to help ensure the success of the trainees, the training program and, ultimately, the business. The JTIP board must approve a company proposal for funding before any JTIP-eligible trainees begin work.
The JTIP online application and supporting documentation are what make up the complete proposal. Instructions for the online application, access to the JTIP application portal and a complete Online Proposal Guide is provided upon determination of company eligibility. Staff is available to answer any questions and provide technical assistance with proposal development.
Proposals are due to the JTIP staff in the Economic Development Department one month before being allowed to be placed on the agenda for funding considerations by the board. The JTIP board meets the second Friday of every month.
Additional information available from the New Mexico Economic Development Department.
NEW MEXICO COLLATERAL ASSISTANCE PROGRAM
NEW MEXICO ECONOMIC DEVELOPMENT DEPARTMENT
The New Mexico Collateral Assistance Program pledges cash to cover a collateral shortfall of a loan in order to enable financing that otherwise might not be available to a small business.
Eligibility Requirements
Eligible borrowers must meet these criteria:
- Business purpose is one of the industries listed in the North American Industry Classification Systems (NAICS) codes list.
- Business is considered a small business under the U.S. Small Business Administration
- Employs 750 employees or fewer full-time equivalents.
- The business is located in New Mexico.
Loan proceeds can be used toward the following:
- Any tangible or intangible asset purchase, including; construction, renovation or improvements of an eligible place of business;
- Start-up costs
- Working capital
- Franchise fees
- Equipment
- Inventory
- Bridge loans needed prior to the borrower obtaining permanent financing or support
Application Information
On a per project basis the application will need to be filled out between lender and borrower and submitted.
Additional information available from the New Mexico Economic Development Department.
SMART MONEY LOAN PARTICIPATION PROGRAM
NEW MEXICO FINANCE AUTHORITY
The Smart Money Loan Participation Program is a business lending program that leverages funds provided by local New Mexico banks for businesses that create quality jobs.
Eligibility Requirements
The following costs qualify for financing from the proceeds of Smart Money loan participations:
- Land and Infrastructure Costs. Land costs must be directly associated with the purchase, renovation or new construction of a building or production facility. Land and infrastructure costs may include, but are not limited to:
- acquisition,
- site preparation and testing,
- utilities,
- site mapping,
- landscaping,
- Legal and other related costs.
- Building Costs: may include, but are not limited to building acquisition, construction, rehabilitation and engineering, architectural, legal and other related costs.
- Machinery and Equipment Costs: may include, but are not limited to costs of acquisition, delivery and installation. Costs are eligible if the applicant has newly purchased, even if the machinery has previously been in service. Costs of mobile equipment are eligible if and only if, such equipment is titled or registered for highway use.
- Working Capital: used by an applicant for operations, including without limitation, personnel and training costs.
Application Information
Borrowers work with a Smart Partner Bank to secure a loan. The private lender will submit to NMFA its complete loan analysis as presented and approved by its credit committee or board along with the structure, a proposed commitment letter and the economic impact analysis application.
Additional information available from the New Mexico Finance Authority.
STEP UP PROGRAM
NEW MEXICO ECONOMIC DEVELOPMENT DEPARTMENT
The Step Up Program is an aspect of JTIP (Job Training Incentive Program) that serves incumbent employees and their employers through training and reimbursements.
Eligibility Requirements
In order to qualify to participate in the Step Up Program, companies must
- Be a business service provider that generates over 50% of revenue from out-of-state customers OR a manufacturing company, AND
- Have been in operation in New Mexico for at least one year prior to applying
In addition to meeting the conditions above, companies must meet one of the following criteria:
- Provide a reasonable wage increase to employees who successfully complete the training, OR
- Make a capital investment in new equipment, new technologies or changes to production within a year of the training
Step Up funds may be used for training that upgrades existing skills or provides new skills to current employees including:
- Technical skills such as blueprint reading, computer aided design (CAD), computerized numerical controls (CNC), and welding
- Workplace skills such as supervision, communications, problem solving, and team building
- Training on newly implemented technologies, equipment, and processes
- Consortium training
- NM ISO 9000 Certification Training
Mandatory or regulatory training such as emergency response, hazard communication, OSHA and stand–alone safety training are not eligible for reimbursement.
Eligible costs include:
- Tuition
- Registration fees
- Certification and licensing fees
- Instructional materials
- Supplies
- Outside instructor fees
- Travel expenses
Step Up funds may not be used for:
- Employee salaries (trainees and in-house trainers)
- Equipment
- Software
- Non-expendable supplies
- Use of in-house training space
Application Information
Businesses that meet the qualifications should contact the JTIP staff for an application.
Additional information available from the New Mexico Economic Development Department.
SUSTAINABLE BUILDING TAX CREDIT
NEW MEXICO TAXATION AND REVENUE DEPARTMENT
The SBTC is an income tax credit to encourage private sector design and construction of energy efficient, sustainable buildings for commercial and residential use. The tax credit is based on third-party validation of the building's level of sustainability.
Eligibility Requirements
A taxpayer who files an income tax return is eligible to be granted a new sustainable building tax credit by the department if the taxpayer submits a document stating that the department shall issue to the building owner a document granting a new sustainable building tax credit. The document shall be numbered for identification and declare its date of issuance and the amount of the tax credit allowed pursuant to this section. The document may be submitted by the building owner with that taxpayers income tax return, if applicable, or may be sold, exchanged or otherwise transferred to another taxpayer. The parties to such a transaction shall notify the department of the sale, exchange or transfer within ten days of the sale, exchange or transfer.
Application Information
Before applying for an SBTC for a commercial building, the applicant must first file an SBTC request, using the SBTC Request form. This should be done as early in the project cycle as possible, but not before the project has been registered with the U.S. Green Building Council. Mail the request form and all required attachments listed on the form to:
SBTC
ECMD - EMNRD
1220 S. St. Francis Drive
Santa Fe, NM 87505
Additional information available from the New Mexico Taxation and Revenue Department.
ADVANCED ENERGY DEDUCTION
NEW MEXICO TAXATION AND REVENUE DEPARTMENT
Receipts from selling or leasing tangible personal property or services that are eligible generation plant costs to a person that holds an interest in a qualified generating facility are deductible from gross receipts and compensating tax.
ADVANCED ENERGY TAX CREDIT
NEW MEXICO TAXATION AND REVENUE DEPARTMENT
Advanced energy facilities, such as solar thermal electric, advanced technology coal, or recycled energy, may qualify for credits. The credit is equal to 6% of facility development and construction expenditures.
AGRICULTURAL BIOMASS CORPORATE INCOME TAX CREDIT
NEW MEXICO TAXATION AND REVENUE DEPARTMENT
A tax credit is available for a taxpayer who owns a dairy or feedlot and who files a personal or corporate income tax return for a taxable year beginning on or after January 1, 2011 and ending prior to January 1, 2030.
AGRICULTURE BUSINESS TAX DEDUCTIONS AND EXEMPTIONS
NEW MEXICO TAXATION AND REVENUE DEPARTMENT
Gross receipts tax deductions are available for selling certain items to agribusinesses.
AIRCRAFT DEDUCTION
NM TAXATION & REVENUE DEPARTMENT
Receipts of an aircraft manufacturer or affiliate from selling aircraft or from selling aircraft flight support, pilot training or maintenance training services may be deducted from gross receipts.
ALTERNATIVE ENERGY PRODUCT MANUFACTURERS TAX CREDIT
NEW MEXICO TAXATION AND REVENUE DEPARTMENT
Manufacturers of certain alternative energy products may receive a tax credit not to exceed 5% of qualified expenditures for purchase of manufacturing equipment used in the manufacturing operation.
ANGEL INVESTMENT TAX CREDIT
NEW MEXICO TAXATION AND REVENUE DEPARTMENT
A tax credit for angel investors in high-technology research or manufacturing companies in New Mexico.
BEER AND WINE PRODUCERS PREFERENTIAL TAX RATE
NEW MEXICO TAXATION AND REVENUE DEPARTMENT
Microbreweries producing less than 5,000 barrels of beer annually and small wineries producing less than 560,000 liters of wine per year qualify for a preferential tax rate.
BIODIESEL BLENDING FACILITY TAX CREDIT
NEW MEXICO TAXATION AND REVENUE DEPARTMENT
An operator of a refinery in New Mexico, any person who blends special fuel in New Mexico, or the owner of special fuel stored at a pipeline terminal in New Mexico, who installs biodiesel blending equipment for the purpose of establishing or expanding in a facility to produce blended biodiesel fuel is eligible to claim a credit against gross receipts tax or compensating tax.
BIOMASS-RELATED EQUIPMENT TAX DEDUCTION
NEW MEXICO TAXATION AND REVENUE DEPARTMENT
The value of equipment such as a boiler, turbine-generator, storage facility, feedstock processor, interconnection transformer, or biomass material used for bio-power, bio-fuels, or bio-based products may be deducted in computing the compensating tax due.
CHILD CARE CORPORATE INCOME TAX CREDIT
NEW MEXICO TAXATION AND REVENUE DEPARTMENT
A tax credit is available to corporations that provide or pay for licensed childcare services for children under 12 years of age of the employees.
COLONIAS PROGRAM
NEW MEXICO FINANCE AUTHORITY
The Colonias Program provides for basic infrastructure for water and wastewater systems, solid waste disposal facilities, flood and drainage control, roads and housing infrastructure.
COMPENSATING TAX EXEMPTION
NEW MEXICO TAXATION AND REVENUE DEPARTMENT
Provides an exemption from the compensating tax rate of 5.125% on certain property used in New Mexico and 5% on certain services used in New Mexico.
CONSUMABLES GROSS RECEIPTS TAX DEDUCTION FOR MANUFACTURERS
NEW MEXICO ECONOMIC DEVELOPMENT DEPARTMENT
A seller may deduct receipts from sales to a manufacturer of tangible personal property that becomes an ingredient or component part of a manufactured product.
DIRECTED ENERGY AND SATELLITES DEDUCTION
NEW MEXICO TAXATION AND REVENUE DEPARTMENT
Receipts from the sale of qualified research and development services and qualified directed energy and satellite-related inputs to the Department of Defense may be deducted from gross receipts.
FILM CREW ADVANCEMENT PROGRAM (FCAP)
NEW MEXICO FILM OFFICE
FCAP is an incentive for production companies to help create more job opportunities for New Mexican film and television crew professionals.
FINANCIAL MANAGEMENT TAX CREDIT
NEW MEXICO TAXATION AND REVENUE DEPARTMENT
Receipts from fees received for performing management or investment advisory services for a related mutual fund, hedge fund or real estate investment trust may be deducted from gross receipts.
FUNDING FOR LENDING PARTNERS
NEW MEXICO SMALL BUSINESS INVESTMENT CORPORATION
NMSBIC funds for businesses affected by the COVID-19 crisis will be provided to its lending partners at a discounted interest rate.
GEOTHERMAL HEAT PUMP TAX CREDIT
NEW MEXICO TAXATION AND REVENUE DEPARTMENT
The New Mexico Geothermal Ground-Coupled Heat Pump Tax Credit will pay up to 30%, with a $9,000 maximum, of a geothermal ground-coupled heat pump system that is operational subsequent to January 1, 2010Â but before December 31, 2020.
INCOME TAX CREDIT FOR ELECTRONIC IDENTIFICATION CARD READER
NEW MEXICO TAXATION AND REVENUE DEPARTMENT
Income Tax Credit for Electronic Identification Card Reader provides a one-time income tax credit for businesses that purchase electronic identification card readers to verify age.
INDIAN INTERGOVERNMENTAL TAX CREDIT
NEW MEXICO TAXATION AND REVENUE DEPARTMENT
The intergovernmental production tax credit permits oil and gas companies to claim a credit against state taxes on oil or natural gas produced from a well on Indian tribal land, the actual drilling of which commenced on or after July 1, 1995.
INDUSTRIAL REVENUE BONDS
NEW MEXICO ECONOMIC DEVELOPMENT DEPARTMENT
New Mexico municipalities and counties are authorized to issue IRBs to stimulate the expansion and relocation of commercial and industrial projects in the state.
INTERSTATE TELECOMMUNICATIONS GROSS RECEIPTS TAX EXEMPTION
NEW MEXICO TAXATION AND REVENUE DEPARTMENT
The Interstate Telecommunications Gross Receipts Tax (ITGRT) applies to interstate telecommunications gross receipts of any person engaging in interstate telecommunications business in New Mexico. Interstate telecommunications gross receipts are the total amount of money or the value of other consideration received from providing interstate telecommunications services and mobile telecommunications.
INVESTMENT TAX CREDIT FOR MANUFACTURERS
NEW MEXICO TAXATION AND REVENUE DEPARTMENT
Manufacturers may take a credit against gross receipts, compensating or withholding taxes equal to 5.125% of the value of qualified equipment, provided the manufacturer meets the criteria of hiring additional workers to earn the credit.
JET FUEL GROSS RECEIPTS TAX DEDUCTION
NEW MEXICO TAXATION AND REVENUE DEPARTMENT
The Legislature has allowed for a deduction for fuel to power travel by turboprop or jet-type powered airlines.
LABORATORY PARTNERSHIPS WITH SMALL BUSINESS TAX CREDIT
NEW MEXICO TAXATION AND REVENUE DEPARTMENT
A tax credit provided pursuant to the Laboratory Partnership with Small Business Tax Credit Act shall be in an amount equal to the qualified expenditure incurred by the national laboratory to provide assistance to a specific small business.
LOCAL ECONOMIC DEVELOPMENT ACT
NEW MEXICO ECONOMIC DEVELOPMENT DEPARTMENT
The Local Economic Development Act (LEDA) allows the New Mexico Economic Development Department (NMEDD) to provide grants to local governments to assist businesses.
LOCOMOTIVE FUEL GROSS RECEIPTS & COMPENSATING TAX EXEMPTION
NEW MEXICO TAXATION AND REVENUE DEPARTMENT
Receipts from the sale of fuel to a common carrier to be loaded or used in a locomotive engine may be deducted from the gross receipts, and the value of fuel sold to a common carrier to be loaded or used in a locomotive engine may be deducted in computing the compensating tax.
MANUFACTURING SINGLE SALES FACTOR APPORTIONMENT
NEW MEXICO ECONOMIC DEVELOPMENT DEPARTMENT
A corporation (or family of corporations filing together) with income from sources within New Mexico as well as from sources outside the state, apportions the income based on a three-factor formula. New Mexico taxes the total corporate income multiplied by the average proportion of corporate sales, payroll and property in New Mexico. The three factors (sales, payroll and property) have equal weight (33.33% each) in the formula. From 2014 to 2018, the state is phasing in a single sales factor apportionment for a taxpayer whose principal business activity in New Mexico is manufacturing and who may elect to have business income apportioned.
MILITARY ACQUISITION PROGRAM TAX DEDUCTION
NEW MEXICO TAXATION AND REVENUE DEPARTMENT
Receipts from transformational acquisition programs performing research and development, testing, and evaluation at New Mexico major range and test facility bases pursuant to contracts entered into with the U. S. Department of Defense may be deducted from gross receipts.
NEW MARKETS TAX CREDITS (NMTC)
NEW MEXICO FINANCE AUTHORITY
In 2007, with the explicit authorization of the New Mexico Legislature, NMFA formed a subsidiary called Finance New Mexico, LLC (FNM) to pursue an allocation of federal tax credits available under the New Markets Tax Credit program. Since 2007, the CDFI Fund at the US Department of Treasury has awarded FNM six NMTC allocation awards totaling $321 million.
NEW MEXICO CATALYST FUND
NEW MEXICO ECONOMIC DEVELOPMENT DEPARTMENT
The New Mexico Catalyst Fund, LP is a $20 million fund-of-funds investment vehicle. The Fund will invest in emerging and existing venture capital funds in New Mexico (collectively the Portfolio Funds). These Portfolio Funds will focus on making seed and early stage venture capital investments in startup companies in the State of New Mexico. The Fund will be managed by Sun Mountain Capital, LLC (Sun Mountain or SMC).
NEW MEXICO ISO 9000 CERTIFICATION TRAINING
NEW MEXICO ECONOMIC DEVELOPMENT DEPARTMENT
The New Mexico Economic Development Department provides the tools and knowledge for ISO 9001:15 registration through the NM 9000 Certification Training program.
NEW MEXICO SMALL BUSINESS INNOVATION RESEARCH (SBIR) MATCHING GRANT
NEW MEXICO ECONOMIC DEVELOPMENT DEPARTMENT
New Mexico’s Small Business Innovation Research Matching Grant encourages the creation and expansion of commercial enterprises based in New Mexico through the acceleration of the commercialization of innovation and technologies developed with federal SBIR awards.
PROPERTY ASSESSED CLEAN ENERGY (PACE) BOND FINANCING
NEW MEXICO ENERGY, MINERALS AND NATURAL RESOURCES DEPARTMENT
Property Assessed Clean Energy (PACE) Bond Financing program a gives local governments the authority to form Renewable Energy Financing Districts, make special property assessments, and issue bonds to pay for renewable energy systems.
REFUNDABLE FILM PRODUCTION TAX CREDIT
NEW MEXICO FILM OFFICE
New Mexico offers a 25 to 40% refundable tax credit on all direct production expenditures, including New Mexico crew, that are subject to taxation by the State of New Mexico. It applies to feature films, independent films, television, regional and national commercials, documentaries, video games and post-production.
RENEWABLE ENERGY PRODUCTION TAX CREDIT
NEW MEXICO TAXATION AND REVENUE DEPARTMENT
A corporate or personal taxpayer who owns a qualified energy generator is eligible for a tax credit in an amount equal to 1 cent per kilowatt hour of electricity produced by the qualified energy generator using a qualified energy resource in the tax year.
RESEARCH AND DEVELOPMENT TAX DEDUCTION
NEW MEXICO ECONOMIC DEVELOPMENT DEPARTMENT
The Research and Development Tax Deduction provides a deduction for any research and development services sold to the Air Force or Phillips Laboratory, either directly or through an intermediary.
RURAL JOBS TAX CREDIT
NEW MEXICO TAXATION AND REVENUE DEPARTMENT
Eligible employers may apply for this tax credit which can be applied to taxes due on (state) gross receipts, corporate income, or personal income tax for the creation of jobs in rural New Mexico.
RURAL SOFTWARE DEVELOPMENT GROSS RECEIPTS TAX DEDUCTION
NEW MEXICO TAXATION AND REVENUE DEPARTMENT
Receipts from the sale of software development services may be deducted from gross receipts tax when the service is performed in a rural area.
SANTA TERESA OVERWEIGHT CARGO ZONE
NEW MEXICO ECONOMIC DEVELOPMENT DEPARTMENT
The Santa Teresa Overweight Cargo Zone allows trucks to carry overweight cargo past the port of entry from Mexico.
SCIENCE & TECHNOLOGY BUSINESS START-UP GRANTS
NEW MEXICO ECONOMIC DEVELOPMENT DEPARTMENT
The New Mexico Business Startup Grants are competitive grant designed to enable early stage science and technology companies in the following industry sectors: Aerospace, Biosciences, Cybersecurity, Intelligent Manufacturing, and Sustainable & Green Energy to overcome business development barriers.
SPACEPORT-RELATED ACTIVITIES GROSS RECEIPTS TAX DEDUCTIONS
NEW MEXICO ECONOMIC DEVELOPMENT DEPARTMENT
There are 4 separate deductions connected with the operation of a spaceport in New Mexico.
TECHNOLOGY JOBS AND RESEARCH AND DEVELOPMENT TAX CREDIT
NEW MEXICO TAXATION AND REVENUE DEPARTMENT
A taxpayer conducting qualified research at a qualified facility and making qualified expenditures is eligible to claim the basic technology jobs and research and development tax credit.
TRADE SUPPORT COMPANY IN A BORDER ZONE DEDUCTION
NEW MEXICO TAXATION AND REVENUE DEPARTMENT
The receipts of a customs brokerage firm or freight forwarder may be deducted from gross receipts if the company first locates in New Mexico within twenty (20) miles of an international port of entry in New Mexico on New Mexico's border with Mexico at which customs services are provided by United States Customs and Border Protection.
WEB HOSTING GROSS RECEIPTS TAX DEDUCTION
NEW MEXICO TAXATION AND REVENUE DEPARTMENT
Receipts from hosting world-wide web sites may be deducted from gross receipts.
New York
APPRENTICESHIP EXPANSION GRANT
NEW YORK DEPARTMENT OF LABOR
The New York State Department of Labor (NYSDOL) has committed up to $3 million to expand NYS Registered Apprenticeship (RA) by increasing employment opportunities for apprentices, including underrepresented populations. For eligibility requirements and application information see the website.
Additional information available from the New York Department of Labor.
BRIDGE TO SUCCESS LOAN PROGRAM
NEW YORK EMPIRE STATE DEVELOPMENT
Short-term loans are available to qualified Minority Women Business Enterprise (MWBE)s to boost their ability to participate in contracting opportunities with New York State.
Eligibility Requirements
Only New York State–certified minority- and/or women-owned business enterprises (MWBEs) are eligible. Credit terms and decisions are determined by the participating lenders
Application Information
To apply, contact one of the participating lenders found on the program site. For program questions, please call the NYS MWBE Resource Line: (855) ESD-4MWB (855-373-4692).
Additional information available from the New York Empire State Development.
BUSINESS MENTOR NY
NEW YORK EMPIRE STATE DEVELOPMENT
Business Mentor NY is the state's first large scale, web-based, hands-on mentoring program geared to help entrepreneurs and established small businesses overcome challenges to grow their business.
Eligibility Requirements
Business Mentor NY is available to any NY State business that employs 100 or fewer employees. To qualify as a mentor, professionals should have three years of business ownership experience, or five years of management experience.
Application Information
For application information see the website.
Additional information available from the New York Empire State Development.
CAPITAL ACCESS PROGRAM
NEW YORK EMPIRE STATE DEVELOPMENT
The State Small Business Credit Initiative (SSBCI) is expanding the New York State Capital Access Program (CAP) with $29.4 million to provide matching funds to financial institutions for loan loss reserves as an incentive to increase small business lending.
Eligibility Requirements
Qualified lenders include any bank, trust company, savings bank, savings and loan association or cooperative bank chartered by the State or any national banking association, federal savings and loan association or federal savings bank or any community based lending organization, provided, however, that such entity has its principal office located in the State.
A community based lending organization includes community development financial institutions, small business lending consortia, certified development companies, United States Small Business Administration loan providers, and community development credit unions provided however, that such entity has an office for the transaction of business located in the State.
A community development financial institution is further defined as one that meets the following criteria:
- has a primary mission of promoting community development;
- serves an investment area or targeted population;
- provides development services in conjunction with equity investments or loans, directly or through a subsidiary or affiliate;
- maintains, through representation on its governing board or otherwise, accountability to residents of its investment area or targeted population; and
- is not an agency or instrumentality of the United States, or of any State or political subdivision of a State.
Participating Lenders
Financial institutions must enter into a Capital Access Program Lender Agreement with Empire State Development before enrolling loans.
Small Businesses
If you are a small business looking for a loan, there are lenders throughout the state who may be able to help you.
Application Information
For application information please see the program website and contact the agency for details.
Additional information available from the New York Empire State Development.
COMMERCIAL DISTRICT REVOLVING LOAN TRUST FUNDS
NEW YORK EMPIRE STATE DEVELOPMENT
Empire State Development has capitalized over $600,000 making funds available to five community-based corporations to administer and make loans to small retail and service businesses in their service areas.
Eligibility Requirements
1) Eligible applicants include for-profit retail, professional or commercial service businesses with 50 or fewer full-time equivalent employees, located within the specific service delivery area served by the administering corporation.
2) Eligible uses of working capital loans include inventory, upgrading display lighting, advertising and promotion, payroll, computer hardware and software, display cabinets, furniture and fixtures.
3) Borrowers must have at least a 10% equity interest in the project or business.
Application Information
The administering corporations that manage the Revolving Loan Trust Funds conduct their own program marketing and intake, screening, credit analysis, closings and loan servicing. Applications are accepted on a continuing basis by the administering corporations.
Additional information available from the New York Empire State Development.
ECONOMIC DEVELOPMENT FUND
NEW YORK EMPIRE STATE DEVELOPMENT
The Empire State Economic Development Fund (EDF) program offers financial assistance for projects that promote the economic health of New York State by facilitating the creation and or retention of jobs or the increase of business activity in the State.
Eligibility Requirements
Eligible:
1) Businesses involved in industrial, manufacturing, warehousing and distribution
2) Research and development, high
technology, service and other non-retail commercial enterprises 3) Not-for-profits
4) Local Development Corporations and Industrial Development Agencies
5) Municipalities
Not Eligible: Residential, casino or gambling institutions, legal, medical, nursing services, retail firms.
Application Information
Interested businesses are encouraged to speak with your local ESD Regional Office or ESD Strategic Business Division staff. ESD and recipient agree to an Incentive Proposal that outlines the terms and ESD staff reviews the terms. Satisfactory applications are presented to the ESD directors for consideration.
Additional information available from the New York Empire State Development.
ECONOMIC TRANSFORMATION AND FACILITY REDEVELOPMENT PROGRAM
NEW YORK DEPARTMENT OF TAXATION AND FINANCE
The Economic Transformation and Facility Redevelopment Program provides a fully refundable credit available to personal income taxpayers, agricultural cooperatives, general business corporations, banks, and insurance companies.
Additional information available from the New York Department of Taxation and Finance.
EMPIRE STATE APPRENTICESHIP TAX CREDIT
NEW YORK DEPARTMENT OF TAXATION AND FINANCE
Are you a certified sponsor employing an apprentice in the New York State Registered Apprenticeship (RA) program? You may be entitled to tax credits for each apprentice you hire on or after January 1, 2018. Enhanced credits are offered to those who employ disadvantaged youth as apprentices and for those programs that engage the support of a mentor. You must employ qualified apprentices full-time (a minimum of 35 hours per week) for at least six months during the tax year.
Eligibility Requirements
You are entitled to this refundable credit if you or your business is a qualified employer certified by the New York State Department of Labor (DOL) in the Empire State Apprenticeship Tax Credit (ESATC) Program, and received a Final Certificate of Tax Credit from the New York State DOL.
The ESATC Program provides a tax credit to certified New York State Registered Apprenticeship (RA) program sponsors for employing qualified apprentices.
You must submit a completed application to DOL, which administers the program, by December 31 each year to participate in the program. For more information about the program and the application process, visit ESATC Program.
Application Information
For application information see the website.
Additional information available from the New York Department of Taxation and Finance.
EMPIRE STATE JOBS RETENTION PROGRAM
NEW YORK EMPIRE STATE DEVELOPMENT
The Empire State Jobs Retention Program was created to provide financial incentives to retain strategic businesses and jobs that are at risk of leaving the state due to the impact on business operations from a natural disaster.
Eligibility Requirements
The Program is available to firms operating in the strategic industries that:
1) are located in a county in which an emergency has been declared by the Governor;
2) demonstrate substantial physical damage and economic harm resulting from the event leading to the emergency declaration; and
3) employ at least 100 employees in the county in which an emergency has been declared and retain or exceed that number of jobs in New York State.
Only those impacted jobs that are retained by the firm are eligible for the jobs retention credit. Applications must be submitted within 180 days of the declaration of an emergency by the Governor in the county in which the business enterprise is located.
Application Information
Strategic businesses seeking to be admitted to the Program must complete an application and are strongly encouraged to contact the appropriate ESD Regional Office before completing the application.
Additional information available from the New York Empire State Development.
EMPLOYMENT INCENTIVE CREDIT
NEW YORK STATE DEPARTMENT OF TAXATION AND FINANCE
A taxpayer that qualifies for an investment tax credit (ITC) may qualify for a tax credit for adding more employees.
Eligibility Requirements
The Employee Investment Tax Credit (EIC) is allowable only if the average number of employees in New York (except general executive officers) during the taxable year is at least 101 percent of the average number of employees in New York (except general executive officers) during the employment base year.
If the taxpayer was not subject to the tax and did not have a tax year immediately preceding the tax year for which the ITC was allowed, but the average number of employees in New York (excluding general executive officers) is at least 101 percent of the average number of employees (excluding general executive officers) during the tax year in which the ITC was originally claimed, the EIC is allowed.
Application Information
See Form-CT-46, Claim for Investment Tax Credit, and its instructions, Form CT-46-I (for corporations); or Form IT-212, Investment Credit and its instructions, Form IT-212-I; and Form IT-212-ATT, Claim for Historic Barn Rehabilitation Credit and Employment Incentive Credit, and its instructions, Form IT-212-ATT-I (for all others) for more information.
Additional information available from the New York State Department of Taxation and Finance.
ENTREPRENEURIAL ASSISTANCE PROGRAM (EAP)
NEW YORK EMPIRE STATE DEVELOPMENT
The Entrepreneurial Assistance Program (EAP) establishes Entrepreneurial Assistance Centers in local communities to provide instruction, training, technical assistance and support services to individuals who have recently started their own business or are interested in starting a business. The 24 EAP centers are strategically located throughout New York State.
Eligibility Requirements
Through Entrepreneurial Assistance Program (EAP) Centers located strategically throughout New York State, the Entrepreneurial Assistance Program assists new and aspiring entrepreneurs in developing basic business management skills, refining business concepts, devising early-stage marketing plans, and obtaining business financing.
Application Information
Individuals wishing to start or expand their business in New York State should consult the Entrepreneurial Assistance Program (EAP) Center Directory for the name and contact information for the nearest EAP Center to schedule an appointment.
Additional information available from the New York Empire State Development.
EXCELSIOR JOBS PROGRAM
NEW YORK EMPIRE STATE DEVELOPMENT
The Excelsior Jobs Program encourages businesses to expand in and relocate to New York while maintaining strict accountability standards to guarantee that businesses deliver on job and investment commitments.
Eligibility Requirements
Eligibility the following strategic businesses located in or planning to locate in NYS that will create jobs or retain jobs and make significant capital investments.
- Scientific Research and Development firms creating at least 5 net new jobs
- Software Development firms creating at least 5 net new jobs
- Financial services (customer service) back office operations creating at least 25 net new jobs
- Agriculture firms creating at least 5 net new jobs
- Manufacturing firms creating at least 5 net new jobs
- Back office firms creating at least 25 net new jobs
- Distribution firms creating at least 50 net new jobs
- Music Production firms creating at least 5 net new jobs
- Entertainment Companies creating at least 100 net new jobs
- Life Sciences Companies creating at least 5 net new jobs
- Other firms creating at least 150 net new jobs and investing at least $3 million
- Firms in strategic industries that make significant capital investment that have at least 25 employees; manufacturing firms who retain at least 5 employees are also eligible to apply for participation in the Program.
Application Information
Applicants interested in the Excelsior Jobs Program should contact their Regional Office. Applicants may also complete New York State’s Consolidated Funding Application that will be submitted to the local ESD regional office
Additional information available from the New York Empire State Development.
HIRE A VETERAN CREDIT
NEW YORK DEPARTMENT OF TAXATION AND FINANCE
Looking to hire well-trained employees with real-world work experience? Think about hiring a veteran. Employing qualified veterans full time in New York State for at least one year may entitle you to a tax credit. You can carry forward any unused amount of the credit for the following three years!
Eligibility Requirements
You are entitled to this nonrefundable credit if you or your business:
- hires a qualified veteran who begins his or her employment on or after January 1, 2014, but before January 1, 2021; and
- employs the qualified veteran in New York State for one year or more for at least 35 hours each week.
You may claim the credit in the tax year in which the qualified veteran completes one year of employment with you. The credit may be claimed for tax years beginning on or after January 1, 2015, but before January 1, 2022.
Application Information:
For application information see the website.
Additional information available from the New York Department of Taxation and Finance.
INVESTMENT TAX CREDIT (ITC)
NEW YORK EMPIRE STATE DEVELOPMENT
The Investment Tax Credit allows businesses to qualify for tax credits that create new jobs and make new investments in production property and equipment may qualify for tax credits of up to 10% of their eligible investment.
Eligibility Requirements
It is a refundable credit for new businesses. Contact the Empire State Development for details.
Application Information
Contact the Empire State Development for details.
Additional information available from the New York Empire State Development.
JOB DEVELOPMENT AUTHORITY (JDA) DIRECT LOAN PROGRAM
NEW YORK EMPIRE STATE DEVELOPMENT
The Job Development Authority (JDA) program provides Direct Loans for the growth of manufacturing and other eligible businesses within New York State by assisting in financing a portion of the cost of acquiring and renovating existing buildings or constructing new buildings (Estate projects) or for purchasing machinery and equipment (M&E projects). Funds to make Loans are derived from the sale of State-guaranteed bonds.
Eligibility Requirements
Job Development Authority Loans may not be used for:
- Retail facilities, which customers must personally visit in order to obtain the goods or services being sold
- Hotel or residential facilities
- Motor vehicles
- Working capital loans
Other Requirements:
- The borrower must secure a letter of commitment from the bank providing the 50% financing portion of the project cost.
- The borrower must provide at least 10% of the project cost as an equity contribution to the project.
- Personal guarantees are required from any person owning 20% or more of the operating company for whose benefit the JDA loan is being made.
Application Information
Please contact Rafael Salaberrios, Vice President of Economic Revitalization at (212) 803-3219 to start the application process.
- All Job Development Authority loans must be approved by the members of the JDA board of directors and subsequent approval by the Public Authorities Control Board.
- The approval of the JDA board must take place before the commencement of the project.
Additional information available from the New York Empire State Development.
MICRO ENTERPRISE LOAN FUND
NEW YORK EMPIRE STATE DEVELOPMENT
Empire State Development (ESD) has capitalized three revolving loan funds for financing small loans to NYS-certified Minority and Women-Owned Business Enterprises (MWBEs) through authorized, locally based administering micro-lending corporations.
Eligibility Requirements
- Loan applicants must be small and high-risk for-profit businesses that are NYS-certified MWBEs with no more than $100,000 in annual gross revenues.
- For start-ups, applicants must demonstrate entrepreneurial or other business training.
- Ineligible uses of program funds include refinancing debt, residential construction or renovation (unless pursuant to a government-sponsored project), payment of tax or employee benefit arrearages, projects of newspapers, broadcasting, news media, medical facilities, libraries, community centers, or public infrastructure.
Application Information
Contact the participating lender, Bronx Overall Economic Development Concourse.
Additional information available from the New York Empire State Development.
MINORITY AND WOMEN REVOLVING LOAN TRUST FUND
NEW YORK EMPIRE STATE DEVELOPMENT
The Minority and Women Revolving Loan Trust Fund Program was created by the State of New York in 1995 and is administered through ESD for the purpose of making low-cost financial assistance available to minority- and women-owned businesses that are unable to access traditional financial services.
Eligibility Requirements
- Loan applicants must be small and high-risk for-profit businesses that are Minority and Women-Owned Businesses (MWBE)s with no more than $100,000 in annual gross revenues.
- Ineligible uses of program funds include refinancing debt, residential construction or renovation (unless pursuant to a government-sponsored project), payment of tax or employee benefit arrearages, projects of newspapers, broadcasting, news media, medical facilities, libraries, community centers, or public infrastructure.
Application Information
Applicants must be for the principal owners of the business. No applications will be reviewed without a business plan. This program is funded by the New York Urban Development Corporation, the U.S. Department of Commerce, and the U.S. Economic Development Administration. To apply, review the list of organizations on the website and contact the nearest organization.
Contact Information
Empire State Development
633 Third Avenue
New York, NY 10017
Phone: (212) 803-3664
Additional information available from the New York Empire State Development.
MINORITY AND WOMEN-OWNED BUSINESS LENDING (MWBDL) PROGRAM
NEW YORK EMPIRE STATE DEVELOPMENT
The program provides financial assistance to Minority and Women-Owned Business Enterprises (MWBE) in the State, as well as to projects and programs that assist the development of entrepreneurship among minority persons and women in New York State.
Eligibility:
1) Certified minority and or women-owned business enterprises
2) Banking organizations
3) Technical assistance providers
4) Incubator sponsors
5) Municipalities
6) Authorities
7) Agencies
8) Administering corporations
Ineligible Recipients include:
1) Educational institutions
2) Hospitals
3) Residential health care facilities
Eligible Uses include:
1) Linked deposits, minority and women revolving loan trust fund
2) Contractor development assistance
3) Business development loans, franchise loans
4) Loan guarantees
5) Incubator assistance
Ineligible Uses include:
1) Refinancing, retiring or liquidating existing debt or equity
2) Residential construction projects, except for government-sponsored projects
3) Payment of tax or employee benefit arrearages
4) Projects for newspapers, broadcasting, news media, medical facilities, libraries, community centers or public infrastructure
Application Information
Contact your ESD Regional Office.
Additional information available from the New York Empire State Development.
NEW CONSTRUCTION - COMMERCIAL PROGRAM
NEW YORK STATE ENERGY RESEARCH AND DEVELOPMENT AUTHORITY
The New Construction – Commercial (NC-Commercial) Program supports the design, development, and construction of carbon neutral buildings, reducing their energy consumption and per capita carbon emissions while ensuring the buildings are more resilient.
Eligibility Requirements
State, federal and local governments, businesses, not-for-profit and private institutions, public and private schools, colleges and universities and health care facilities that are electricity customers of a participating utility company, and that pay, or will pay, into the electric System Benefits Charge are eligible for support.
Application Information
For application information see the website.
Additional information available from the New York State Energy Research and Development Authority.
NEW MARKETS TAX CREDIT PROGRAM
NEW YORK EMPIRE STATE DEVELOPMENT
The New Markets Tax Credit Program (“NMTC Program”) provides investment capital for operating companies and real estate development projects in order to foster job creation and community development in low-income communities throughout New York State.
Eligibility Requirements
Borrowers must meet the definition of a “Qualified Active Low-Income Community Business” as defined under the NMTC Program guidelines. In addition, investments must be located in census tracts that meet the definition of “higher distress” per NMTC program guidelines.
For additional information, please refer to the agency's website.
Application Information
Visit the Community Development Financial Institution (CDFI) Fund Address Qualification website to determine whether the project is located in a qualifying low-income community.
1) Type in your address in the upper right hand corner and hit enter or click the search button. Click on the address that pops up and then click on “Zoom To.” Click anywhere on the map near the site to see the qualification criteria for the site.
2) If the project is located in a Low-Income Community, your ESD Regional Office will then screen potential projects for suitability.
To assist with additional screening please download and fill out the NMTC Intake Form.
For more information about New York State’s allocation of the federal New Markets Tax Credits or for questions about your project’s eligibility, send an email with the project’s location and a brief description to your local Empire State Development Regional Office, and ask to have your project screened.
Additional information available from the New York Empire State Development.
NEW YORK YOUTH JOBS PROGRAM TAX CREDIT
NEW YORK DEPARTMENT OF TAXATION AND FINANCE
Give disadvantaged youths the opportunity to gain transferable professional skills and become a part of your workforce, without breaking the bank. You may be eligible for the New York Youth Jobs Program when you hire at-risk youths, ages 16 to 24 years, living in specific target areas of New York State. The Department of Labor must certify you to participate in the program.
Eligibility Requirements
You are entitled to this refundable credit if you or your business:
- is certified by the New York State Department of Labor (DOL) to participate in the New York Youth Jobs Program,*
- hires qualified employees between the ages of 16 to 24. The qualified employees must start work between January 1 and December 31 of the program year in which you are participating, and
- has received an annual final certificate from DOL.
Note: The program has previously been called the New York Youth Works Tax Credit Program and the Urban Youth Jobs Program Tax Credit.
Application Information
For application information see the website.
Additional information available from the New York Department of Taxation and Finance.
NY-SUN INCENTIVE PROGRAM
NEW YORK STATE ENERGY RESEARCH AND DEVELOPMENT AUTHORITY
NY-Sun offers incentives and financing options for New York businesses looking to go solar.
Eligibility Requirements & Application Information
You will need to work with a participating contractor to see if you are eligible for NY-Sun incentives. Please see the website for application information.
Additional information available from the New York State Energy Research and Development Authority.
NYS SURETY BOND ASSISTANCE PROGRAM (NYSBAP)
NEW YORK EMPIRE STATE DEVELOPMENT
The New York State Surety Bond Assistance Program (NYSBAP) provides technical and financial assistance to help contractors secure surety bonding. Contractors may be eligible to receive a guarantee of up to 30% to secure a surety bond line, bid bond or a performance and payment bond on state projects.
Eligibility Requirements
1) Applicant must be a New York State small business or Minority Women Business Enterprise (MWBE) with at least two years of business operations.
2) Maximum bond line or project size is $2 million.
3) Minimum average gross revenue of $400,000 in the last two fiscal or calendar years and maximum gross revenue not to exceed $5 million in the most recent calendar or fiscal year.
3) Minimum credit score of 600.
4) Previous experience completing similar work to the contract opportunity being pursued.
Application Information
To apply for financial assistance, small business contractors should review eligibility requirements and fill out a Pre-Application Assessment. If the assessment indicates you are eligible to submit an application, proceed with the Application and submit the required forms using the appropriate contact listed below the application links on the state web page.
For all New York State Surety Bond Assistance Program inquiries, please contact Ms. Huey-Min Chuang, Senior Director of Business & Economic Development, at (212) 803-3238 or [email protected].
Additional information available from the New York Empire State Development.
PROCUREMENT ASSISTANCE PROGRAM
NEW YORK EMPIRE STATE DEVELOPMENT
Program to help New York State small businesses identify contracting opportunities with state government agencies, and find the resources needed to compete in this marketplace.
Eligibility Requirements
Any individual or business may view the New York State Contract Reporter. Other services available to New York State firms or New York State branches of foreign firms
Application Information
You may call ESD's Small Business Division or contact your local ESD Regional Office.
Additional information available from the New York Empire State Development.
RECOVERY TAX CREDIT
NEW YORK DEPARTMENT OF TAXATION AND FINANCE
The Recovery Tax Credit is available to your business if you employ eligible individuals in recovery from a substance use disorder.
Eligibility Requirements
You are entitled to this refundable credit if you or your business:
- has been certified by the New York State Office of Addiction Services and Supports (NYS OASAS) and employs eligible individuals in recovery from a substance use disorder in part-time and full-time positions in New York State, and
- has received a certificate of tax credit issued by NYS OASAS, and
- has met the following criteria:
1) the eligible individual must work a minimum of 500 hours for you,
2) the credit cannot exceed $2,000 per individual,
3) the credit can only be claimed one time per individual, and
4) hours worked by multiple eligible individuals may not be combined to meet any of these requirements.
Application Information
For application information see the website.
Additional information available from the New York Department of Taxation and Finance.
REGIONAL COUNCIL CAPITAL FUND
NEW YORK EMPIRE STATE DEVELOPMENT
Regional Council Funds is for capital-based economic development initiatives intended to create or retain jobs; prevent, reduce or eliminate unemployment and underemployment; and/or increase business activity in a community or region.
Eligibility Requirements
Eligible applicants include for-profit businesses; not-for-profit corporations; business improvement districts; local development corporations; public benefit corporations (including industrial development agencies); economic development organizations; research and academic institutions; incubators; technology parks; municipalities; counties; regional planning councils; tourist attractions; and community facilities.
Application Information
Applicants must complete and submit a Consolidated Funding Application (CFA) for review by ESD and the Regional Council for the region in which the proposed project is located.
For more information, eligible applicants should contact the local Empire State Development Regional Office.
Additional information available from the New York Empire State Development.
REGIONAL REVOLVING LOAN TRUST FUND
NEW YORK EMPIRE STATE DEVELOPMENT
Empire State Development (ESD) has capitalized Regional Revolving Loan Trust Fund (RRLTF) programs operated by regional not-for-profit organizations in New York State for the purpose of making working capital loans to small businesses located within New York state that generate economic growth and job creation and are unable to obtain adequate credit or adequate terms from commercial lenders.
Eligibility Requirements
Eligibility Priority is given to projects which:
1) Create or retain jobs
2) Are located in distressed areas
3) Are owned by minority or women entrepreneurs or firms which employ minorities, women or displaced workers
4) Leverage other public and or private dollars
Application Information
The organizations which manage RRLTF programs conduct their own loan fund marketing, intake, applicant screening, credit analysis, closings and loan servicing. A written business plan, business and personal financial statements and financial projections are required of all applicants. If you require loan assistance, please contact the administering corporation nearest you.
Additional information available from the New York Empire State Development.
SOLAR ENERGY SYSTEM EQUIPMENT CREDIT
NEW YORK DEPARTMENT OF TAXATION AND FINANCE
Tax Law section 606(g-1) provides for the solar energy system equipment credit. The credit is allowed for certain solar energy system equipment expenditures.
Eligibility Requirements
The credit is equal to 25% of your qualified solar energy system equipment expenditures and is limited to $5,000.
In the case of a cooperative housing corporation or a condominium, a percentage of the qualified solar energy system equipment expenditures may be attributed to each unit within the building. This information should be provided to each tenant-shareholder or condominium owner by the cooperative housing corporation or condominium management association.
In the case of a solar energy system equipment power purchase agreement or lease, no credit is allowed after the 15th year for a power purchase agreement or lease that exceeds 15 years in duration.
If your credit is greater than the amount of tax you owe, the balance will not be refunded to you. However, any credit amount in excess of the tax due can be carried over for a maximum of up to five years.
Application Information
See the website for application information.
Contact Information
New York Department of Taxation and Finance
W A Harriman Campus Bldg 9
Albany, NY 12227
Additional information available from the New York Department of Taxation and Finance.
WORKERS WITH DISABILITIES EMPLOYMENT TAX CREDIT (WDTC)
NEW YORK STATE DEPARTMENT OF LABOR
The Workers (with Disabilities) Employment Tax Credit (WETC) is a New York State tax credit that can result in $2,100 for each individual hired.
Eligibility Requirements
An employee must meet the eligibility requirements for certification under the Work Opportunity Tax Credit (WOTC) program as a vocational rehabilitation referral, and
- Be certified by the New York State Education Department's Adult Career and Continuing Education Services-Vocational Rehabilitation (ACCES-VR) or
- Be certified by the Office of Children and Family Services' Commission for the Blind and the Visually Handicapped (CBVH)
Application Information
In order to claim the Workers with Disabilities Tax Credit, the business must complete a Confirmation of Hire for each disabled person hired during the calendar year. The tax credit may be used to offset New York tax liability under the insurance and bank franchise tax and transportation and transmission companies taxes. The tax credit applies to tax years beginning after 1997 and to individuals who began to work for an employer after 1996.
Contact Information
New York State Department of Labor
State Campus, Building 12 Rm 200
Albany, NY 12240-0003
Phone: (518) 457-9000 or (800)-447-3992
Additional information available from the New York State Department of Labor.
ADVANCED BUILDINGS PROGRAM
NEW YORK STATE ENERGY RESEARCH AND DEVELOPMENT AUTHORITY
Buildings require a lot of energy to heat or cool spaces, circulate air, and operate lighting. In New York State, 60 percent of greenhouse gas emissions come from these operations. And most buildings—from single-family homes to skyscrapers—will likely be around for about 100 years. Currently, 80 percent of buildings across the State were constructed before energy codes emerged in the 1970s; they were not designed to be energy efficient. Laboratories and startups are working on business models and technology to lower buildings’ emissions and energy use, but they need help getting their innovations to market. New York State Energy Research and Development Authority (NYSERDA)’s Advanced Buildings program is bridging that gap.
The current funding opportunity from the Advanced Buildings program is helping bring innovation in heating, ventilation, and cooling (HVAC) systems into the mainstream.
ALCOHOLIC BEVERAGE PRODUCTION CREDIT
NEW YORK DEPARTMENT OF TAXATION AND FINANCE
A tax credit for businesses in New York that distribute alcohol of up to 15,000,000 gallons of beer, cider, and wine and up to 300,000 additional gallons of liquor that is produced in New York State in the same tax year.
BETTER BUFFALO FUND
NEW YORK EMPIRE STATE DEVELOPMENT
The Better Buffalo Fund (BBF) is a Buffalo Billion Initiative aimed at creating vibrant, mixed-use, high-density neighborhoods and is focused on giving all residents of the City of Buffalo greater access to the major employment hubs.
BIOFUEL PRODUCTION CREDIT
NEW YORK DEPARTMENT OF TAXATION AND FINANCE
A tax credit of up to $2.5 million per entity per tax year for businesses that produce biofuel.
BROWNFIELD CLEANUP TAX CREDIT PROGRAM
NEW YORK STATE DEPARTMENT OF ENVIRONMENTAL CONSERVATION
Environmental Zones Chapter 1 of the Laws of 2003 establishes the Brownfield Cleanup Program that, among other things, provides tax credits to volunteers who remediate and redevelop brownfield sites in New York State.
BROWNFIELD OPPORTUNITY AREAS PROGRAM
NEW YORK STATE DEPARTMENT OF ENVIRONMENTAL CONSERVATION
The Brownfield Opportunity Area (BOA) Program is operated by the New York State Department of State and provides state planning funds to community-based organizations (CBOs) and municipalities to develop community plans for areas with multiple vacant properties or brownfields.
CLEAN ENERGY WORKFORCE DEVELOPMENT
NEW YORK STATE ENERGY RESEARCH AND DEVELOPMENT AUTHORITY
Workforce development and training are essential components of building a resilient and equitable clean energy economy that is inclusive of all New Yorkers. Simply put, New York State cannot reach its clean energy goals without the trained professionals to translate these goals into action. To meet the requirements of a clean energy economy as outlined in the Clean Energy Fund (CEF) and the Climate Leadership and Community Protection Act (Climate Act), NYSERDA has dedicated more than $170 million in funding to support clean energy workforce development and training.
COMMERCIAL TAX CREDIT PROGRAM
NEW YORK EMPIRE STATE DEVELOPMENT
The New York State Commercial Tax Credit Program is designed to increase the production of commercial filming in New York State (“NYS”).
COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION ASSISTANT PROGRAM
NEW YORK EMPIRE STATE DEVELOPMENT
Community Development Financial Institutions (CDFI) provide micro-loans to businesses who often do not qualify for bank loans, as well as one-on-one counseling and business development assistance to facilitate credit-readiness.
EMPIRE STATE MUSIC AND THEATRICAL PRODUCTION TAX CREDIT PROGRAM
NEW YORK EMPIRE STATE DEVELOPMENT
The Empire State Music and Theatrical Production Tax Credit Program is designed to encourage music and theatrical production companies to conduct pre-tour activities, technical rehearsals and to perform shows at locations in Upstate New York, home to some of the premier regional venues for musical and theatrical production.
EMPLOYEE TRAINING INCENTIVE PROGRAM
NEW YORK EMPIRE STATE DEVELOPMENT
The Employee Training Incentive Program provides refundable tax credits to New York State employers for procuring skills training that upgrades or improves the productivity of their employees. Businesses can also receive tax credits for approved internship programs that provide training in advanced technology, life sciences, software development or clean energy.
EXPORT MARKETING ASSISTANCE SERVICE
NEW YORK EMPIRE STATE DEVELOPMENT
The Export Marketing Assistance Service (EMAS) is a New York State program designed to help businesses find sales agents or distributors abroad. Once accepted, Global NY’s international offices will provide local expertise for the markets you select, conduct customized research and identify potential partners for your company abroad.
FARM WORKFORCE RETENTION CREDIT
NEW YORK DEPARTMENT OF TAXATION AND FINANCE
A farm employer may not use any farm employees used in the computation of the farm workforce retention credit to claim any other tax credit.
FAST NY SHOVEL-READY GRANT PROGRAM
NEW YORK EMPIRE STATE DEVELOPMENT
On February 28, 2022, Governor Kathy Hochul announced that the Fiscal Year 2023 New York State Budget would make available up to $200 million for Empire State Development (“ESD”) to fund the new Focused Attraction of Shovel-Ready Tracts New York (FAST NY) Grant Program (the “Program”).
FILM TAX CREDIT PROGRAM
NEW YORK EMPIRE STATE DEVELOPMENT
The Film Tax Credit Program provides incentives to qualified production companies that produce feature films, television series, relocated television series, television pilots and television movies, and/or incur post-production costs associated with the original creation of these film productions.
GLOBAL NY FUND GRANT PROGRAM
NEW YORK EMPIRE STATE DEVELOPMENT
The Global NY Fund Grant Program is open to New York State companies and non-profit organizations seeking to create or expand direct exports. All export grants are awarded on a reimbursable basis.
GLOBAL NY FUND LOAN PROGRAM
NEW YORK EMPIRE STATE DEVELOPMENT
Loans are available to purchase equipment, inventory, working capital to support foreign accounts receivable, export lines or credit, or long-term financing. Empire State Development (ESD) is also offering interest-free loans for Distilled and Fermented Beverage industry businesses to promote New York State’s thriving beverage industry on a global scale.
GLOBAL NY STATE TRADE EXPANSION PROGRAM
NEW YORK EMPIRE STATE DEVELOPMENT
In partnership with the U.S. Small Business Administration (SBA), grants are being offered by the NY State Trade Expansion Program (STEP) to qualifying small and medium-sized business to increase the number of businesses entering the export market, and to increase the value of exports for businesses that currently export.
GREEN CHIPS PROGRAM
NEW YORK EMPIRE STATE DEVELOPMENT
New York State is leading by offering a State-level, companion incentive to the forthcoming federal CHIPS incentives. The recently passed Green CHIPS legislation will reduce the cost of constructing and operating chip fabs. This new transformative program will help attract thousands of jobs and billions of dollars to cement New York as the nation’s leader in the domestic reshoring of semiconductor manufacturing—all while helping address supply chain shortages, inflation and national security.
INDUSTRIAL ACCESS PROGRAM
NEW YORK STATE DEPARTMENT OF TRANSPORTATION
The New York State Industrial Access Program has been designed to complement economic development projects throughout the State where transportation access poses a problem or may offer a unique opportunity to the viability of a project.
INDUSTRIAL EFFECTIVENESS PROGRAM
NEW YORK EMPIRE STATE DEVELOPMENT
The program provides technical and financial assistance to help New York State manufacturing firms address competitiveness issues that increase productivity, efficiency and market share.
INDUSTRIAL FINANCE PROGRAM
NEW YORK STATE ENVIRONMENTAL FACILITIES CORPORATION
The Industrial Finance Program (IFP) assists clients in managing their wastes, control pollution, building and improving drinking water, waste water and solid waste facilities, and complying with environmental regulations. IFP low-cost loans are financed through proceeds of special obligation revenue bonds issued by EFC and are backed by the credit of the borrower.
INNOVATE NY FUND
NEW YORK EMPIRE STATE DEVELOPMENT
The Innovate NY Fund was designed to provide investment capital in seed stage businesses supporting innovation, job creation and high-growth entrepreneurship throughout New York State (“NYS”). The program was supported by a $35.6 million from US Department of Treasury grant and $10.3 million from Goldman Sachs.
LIFE SCIENCES RESEARCH AND DEVELOPMENT TAX CREDIT
NEW YORK EMPIRE STATE DEVELOPMENT
The Life Sciences Research and Development Tax Credit Program is designed to support new life sciences businesses locating, inventing, commercializing and producing in New York State.
LINKED DEPOSIT PROGRAM
NEW YORK EMPIRE STATE DEVELOPMENT
The Linked Deposit Program (LDP) helps existing New York State firms obtain reduced-rate financing so they can undertake investments to make borrowing less expensive.
LOAN LOSS RESERVE PROGRAM
NEW YORK STATE ENERGY RESEARCH AND DEVELOPMENT AUTHORITY
The Loan Loss Reserve program provides loan loss portfolio coverage to qualified financing lenders, including local and regional banks, community-based lenders, and other financial firms to finance energy efficiency and renewable energy projects such as energy efficiency, geothermal and solar.
LOW-COST HYDROPOWER
NEW YORK POWER AUTHORITY
New York Power Authority (NYPA) brings low-cost, clean hydropower to your business in New York State. This energy is reliably provided by NYPA to support your company’s commitment to jobs and capital investment.
MANUFACTURING ASSISTANCE PROGRAM
NEW YORK EMPIRE STATE DEVELOPMENT
The Manufacturing Assistance Program (MAP) provides capital grants up to $1 million to manufacturers for projects that will increase their productivity and / or competitiveness.
MARKET NEW YORK - TOURISM GRANT PROGRAM
NEW YORK EMPIRE STATE DEVELOPMENT
Market New York is a grant program with funding available for eligible projects that will create an economic impact by increasing tourism throughout the state.
METROPOLITAN ECONOMIC REVITALIZATION FUND (MERF)
NEW YORK EMPIRE STATE DEVELOPMENT
The Metropolitan Economic Revitalization Fund (MERF) provides loans to businesses or governments investing in projects that retain or create a significant number of private-sector jobs in economically distressed areas that are within the geographic area known as the New York portion of the service area of the Port Authority of New York and New Jersey. These areas include New York City and parts of Nassau, Westchester and Rockland counties.
NEW YORK STATE FILM TAX CREDIT PROGRAM (POST-PRODUCTION)
EMPIRE STATE DEVELOPMENT
A tax credit program that is designed to be allocated and used to encourage companies to post their film projects in New York and help create and maintain film industry job.
NEW YORK STATE LAND BANK PROGRAM
NEW YORK EMPIRE STATE DEVELOPMENT
The New York State Land Bank Program permits municipalities to apply for and create land banks in their communities. Land banks are not-for-profit corporations created to take control of, and redevelop, vacant or abandoned properties to better serve the public interest.
NEW YORK VENTURES DIRECT FUND
NEW YORK EMPIRE STATE DEVELOPMENT
The Innovation Venture Capital Fund (the “Fund") is a $100 million venture capital fund that invests in seed and early stage businesses throughout New York State.
NY STATE ECONOMIC DEVELOPMENT POWER
NEW YORK POWER AUTHORITY
NY State Economic Development Power (EDPAB) evaluates EDP applications on a competitive basis and recommends allocations to the Power Authority's trustees for approval.
QUALIFIED EMERGING TECHNOLOGY COMPANY (QETC) TAX CREDITS
NEW YORK STATE DEPARTMENT OF TAXATION AND FINANCE
Qualified Emerging Technology Company (QETC) tax credits provide tax relief to businesses that either are a QETC that hire employees or are company that invests in a QETC.
RECHARGE NY
NEW YORK POWER AUTHORITY
Through the ReCharge NY program, qualifying businesses and nonprofits statewide can lower their energy costs by as much as 25% by using specially allocated New York Power Authority (NYPA) power which is set aside by the state government and the NYPA board for economic support.
REHABILITATION OF HISTORIC PROPERTIES CREDIT
NEW YORK DEPARTMENT OF TAXATION AND FINANCE
A tax credit for certified historic properties located in New York State.
SECURITY OFFICERS TRAINING TAX CREDIT
NEW YORK DEPARTMENT OF TAXATION AND FINANCE
Tax credits are available for building owners who provide security officer training.
START-UP NEW YORK
NEW YORK EMPIRE STATE DEVELOPMENT
START-UP NY offers new and expanding businesses the opportunity to operate tax-free for 10 years on or near eligible university or college campuses in New York State.
START-UP NY TELECOMMUNICATION SERVICES EXCISE TAX CREDIT
NEW YORK EMPIRE STATE DEVELOPMENT
A tax credit equal to the amount of excise tax paid on telecommunication services for New York businesses.
North Carolina
CAROLINA SMALL BUSINESS DEVELOPMENT LOAN
CAROLINA SMALL BUSINESS DEVELOPMENT FUND
Carolina Small Business Development Fund provides financing solutions and guidance to help entrepreneurs achieve their business goals.
Eligibility Requirements
- For emerging entrepreneurs and established businesses
- Statewide
- All industries, excluding sin businesses
Application Information
Schedule a meeting with a member of our Business Solutions Team to discuss options and review eligibility, before applying for a loan.
Compile required documents such as: personal and federal tax returns, financial statements, business plan, and resumes of key management.
Additional information available from the Carolina Small Business Development Fund.
CUSTOMIZED TRAINING PROGRAM
NORTH CAROLINA COMMUNITY COLLEGES
Sponsored by the state's 58-campus community colleges, the Customized Training Program can support any full-time production, technology support or direct customer service positions created in North Carolina.
Eligibility Requirements
Companies eligible for this program include manufacturers, technology-intensive operations, i.e., information technology, life sciences, etc., regional or national warehousing and distribution centers, customer support centers, air courier services or national headquarters with operations outside North Carolina. Civil service employees providing technical support to U.S. military installations in the state are also eligible to receive customized training assistance.
To receive assistance, eligible companies must meet two or more of the following conditions:
- The company is creating jobs, expanding an existing workforce, or enhancing the productivity and profitability of its operations within the state;
- The company is making an appreciable capital investment;
- The company is deploying new technology, or
- The assistance will enhance the skills of workers
Additional Information
North Carolina Community Colleges
200 West Jones Street
Raleigh, NC 27603
Phone: 919-807-7100
[email protected]
Additional information available from the Economic Development Partnership of North Carolina.
INCUMBENT WORKER TRAINING PROGRAM
NORTH CAROLINA DEPARTMENT OF COMMERCE
The Incumbent Worker Training Grant reimburses companies for the cost of training their workers, helping to improve the skills of employees and the company’s competitiveness.
Eligibility Requirements
To be eligible to apply for IWT, a business must be:
- A North Carolina business in operation within the state for 12 months or more
- Current on all federal, state and local obligations
- Financially viable
Businesses in high growth and in-demand industry sectors, including advanced manufacturing, health care, biotechnology, and hospitality, are given priority for the IWT program.
Additional Information
North Carolina Department of Commerce
North Carolina Association of Workforce Development Boards
301 North Wilmington Street
Raleigh, NC 27601
Phone: 919-814-4600
[email protected]
Additional information available from the North Carolina Department of Commerce.
MOBILE SOURCES EMISSIONS REDUCTIONS GRANT
NORTH CAROLINA DEPARTMENT OF ENVIRONMENTAL QUALITY
The North Carolina Division of Air Quality (DAQ) administers the Mobile Sources Emissions Reduction program to fund the replacement of older diesel vehicles with cleaner alternatives.
Eligibility Requirements
Any private or public sector entity with a physical presence in North Carolina is eligible to apply.
Additional Information
North Carolina Department of Environmental Quality
217 West Jones Street
Raleigh, NC 27603
Available information available from the North Carolina Department of Environmental Quality.
MOUNTAIN BIZWORKS BUSINESS LOANS
MOUNTAIN BIZWORKS
Mountain BizWorks specializes in providing financing to help Western North Carolina small businesses launch and expand, by offering non-traditional loans from $1,000 to $500,000.
Eligibility Requirements
We will ask you to pledge your business assets to secure a loan. Offering assets such as your automobile, home, or other real estate makes us feel that you are as confident in your business as you would like us to be. Typically, we like to have spouses guarantee the debt to show there is family support of the business.
Please be aware that to qualify for a Mountain BizWorks loan, your business must be based in western North Carolina.
Application Information
A full list of required materials and documents are found on the program website
Additional information available from Mountain BizWorks.
ON-THE-JOB TRAINING PROGRAM
NORTH CAROLINA DEPARTMENT OF COMMERCE
Through OJT, a wage reimbursement incentive may be provided to a business to help offset the cost of training a new employee with limited skills.
Eligibility Requirements
OJT contracts are limited to the time required for the employee to become proficient in his/her job, not to exceed six months.
Additional Information
North Carolina Department of Commerce
301 North Wilmington Street
Raleigh, NC 27601
Phone: 800-562-6333
[email protected]
Additional information available from the North Carolina Department of Commerce.
SMALL BUSINESS LOANS
THREAD CAPITAL
Thread Capital offers small business loans from $500 to $100,000. Targeting this range focuses Thread Capital on the biggest gap in the current lending marketplace, where small business owners have the most difficulty finding affordable options.
Eligibility Requirements
Eligibility:
- Applicants must have at least one employee, who could be the owner.
- The small business must be physically located in North Carolina.
- Any individual with greater than 20 percent ownership in the applying business must co-sign the loan.
- Borrowers are expected to pledge all available assets for collateral.
Application Information
Contact the agency for details. Please visit the Thread Capital website.
CDBG BUILDING REUSE PROGRAM - FEDERAL GRANTS
NORTH CAROLINA DEPARTMENT OF COMMERCE
The Community Development Block Grant, Building Reuse Program (CDBG Building Reuse) provides funds to renovate and upfit vacant industrial and commercial buildings for economic development purposes.
CDBG BUILDING REUSE PROGRAM - STATE RURAL GRANTS
NORTH CAROLINA DEPARTMENT OF COMMERCE
The Community Development Block Grant, Building Reuse Program (CDBG Building Reuse) provides funds to renovate and upfit vacant industrial and commercial buildings for economic development purposes.
EXPANDED GAS PRODUCTS SERVICE TO AGRICULTURE FUND
NORTH CAROLINA DEPARTMENT OF COMMERCE
The Expanded Gas Products Service to Agriculture Fund provides grants to allow the owner of a project that would facilitate new and expanded natural gas and propane gas service, or that would expand agricultural production or processing capabilities, to pay for excess infrastructure costs, or to pay for cost effective alternatives that would reduce excess infrastructure costs.
FILM AND ENTERTAINMENT GRANT FUND
NORTH CAROLINA FILM OFFICE
The Film and Entertainment Grant Fund encourages the production of motion pictures, television shows, and commercials and to develop the filmmaking industry within the State
GLASS EQUIPMENT AND INFRASTRUCTURE GRANT
NORTH CAROLINA DEPARTMENT OF ENVIRONMENTAL QUALITY
This special grant program provided funding for single stream material recovery facilities (MRFs) to purchase glass recycling equipment or for local governments to establish or expand community drop-off glass collection through the Glass Equipment and Infrastructure Grant program.
HIGH GEAR LOAN
MOUNTAIN BIZWORKS
Not only does this loan product provide the WNC thriving business community with another layer of financial support, but it also means that local small businesses and entrepreneurs can unlock the capital they need quickly.
HISTORIC REHABILITATION CREDIT
NORTH CAROLINA DEPARTMENT OF REVENUE
This program provides a tax credit for the rehabilitation of income-producing historic properties.
INNOVATION IMPACT GRANT
NORTH CAROLINA BIOTECHNOLOGY CENTER
The Innovation Impact Grant (IIG) program supports the purchase of research equipment for core facilities at academic or nonprofit institutions, fostering innovation within North Carolina’s life sciences ecosystem.
JOB DEVELOPMENT INVESTMENT GRANTS
NORTH CAROLINA DEPARTMENT OF COMMERCE
The Job Development Investment Grant (JDIG) is a performance-based, discretionary incentive program that provides cash grants directly to a company, when the company creates jobs and invests in the state.
JOINT ECONOMIC DEVELOPMENT PROGRAM
NORTH CAROLINA DEPARTMENT OF COMMERCE
The North Carolina Department of Transportation (NCDOT) works closely with the North Carolina Department of Commerce to provide transportation improvements and infrastructure that will expedite industrial/commercial growth and provide new jobs or retain existing ones. Projects must be approved by both the Secretary of Transportation and the Secretary of Commerce.
MAJOR RECYCLING FACILITY SALES AND USE TAX
NORTH CAROLINA DEPARTMENT OF REVENUE
An owner of a major recycling facility is allowed a refund of the sales and use tax paid by it on building materials, building supplies, fixtures, and equipment that become a part of the real property of the recycling facility.
MILL REHABILITATION CREDIT
NORTH CAROLINA DEPARTMENT OF REVENUE
A taxpayer who is allowed a credit under section 47 of the Code for making qualified rehabilitation expenditures of at least three million dollars ($3,000,000) with respect to a certified rehabilitation of an eligible site is allowed a credit equal to a percentage of the expenditures that qualify for the federal credit.
MULTICULTURAL CATALYST FUND
MOUNTAIN BIZWORKS
Helping to level the playing field for entrepreneurs of color, the Multicultural Catalyst Fund makes it easier for people of color and immigrants to get their small businesses off the ground.
MULTIFAMILY RECYCLING GRANT PROGRAM
NORTH CAROLINA DEPARTMENT OF ENVIRONMENTAL QUALITY
The purpose of this grant program is to assist with the implementation, expansion, and improvement of multifamily recycling programs in North Carolina. The Division of Environmental Assistance and Customer Service (DEACS) administers the Multifamily Recycling Grant program through the Solid Waste Management Outreach Program.
NCRR INVESTS
NORTH CAROLINA RAILROAD COMPANY
The North Carolina Railroad Company (NCRR) NCRR Invests program provides assistance to companies that take advantage of the state's freight rail opportunities and create jobs by locating or expanding their company in North Carolina.
NORTH CAROLINA PASSPORT TO EXPORT GRANT PROGRAM
NORTH CAROLINA DEPARTMENT OF COMMERCE
The North Carolina Passport to Export Grant program is designed to increase the amount of small businesses exporting, the total value of exports from N.C. small business, and the number of global markets to which N.C. small businesses export.
ONE NORTH CAROLINA FUND
NORTH CAROLINA DEPARTMENT OF COMMERCE
The One North Carolina Fund (OneNC) is a discretionary cash-grant program that allows the Governor to respond quickly to competitive job-creation projects.
ONE NORTH CAROLINA SMALL BUSINESS PROGRAM
NORTH CAROLINA OFFICE OF SCIENCE, TECHNOLOGY, AND INNOVATION
The One North Carolina Small Business Program helps small businesses develop and commercialize innovative technologies to benefit the general population.
RAIL INDUSTRIAL ACCESS PROGRAM
NORTH CAROLINA DEPARTMENT OF TRANSPORTATION
As part of a statewide effort to attract new industry to North Carolina, the N.C. Department of Transportation's Rail Industrial Access Program uses state funds to help build or refurbish railroad tracks that a new or expanding industry needs.
RECYCLING BUSINESS DEVELOPMENT GRANTS
NORTH CAROLINA DEPARTMENT OF ENVIRONMENTAL QUALITY
The North Carolina Recycling Business Assistance Center (RBAC) offers small grants to North Carolina recycling businesses. RBAC seeks viable, well-planned and effective proposals from recycling businesses in North Carolina wanting to start up or expand recovery efforts.
RESILIENT RECOVERY LOAN
THREAD CAPITAL
Resilient Recovery loans are Thread Capital's new long-term loans designed to meet the extended challenges faced during a business's disaster recovery, including repairing physical damage and recouping from more significant economic losses.
SMALL BUSINESS RESEARCH LOAN
NORTH CAROLINA BIOTECHNOLOGY CENTER
The Small Business Research Loan program provides investments of $100,000 to $250,000 into innovative early-stage life science companies in North Carolina.
STATE SMALL BUSINESS CREDIT INITIATIVE
NORTH CAROLINA RURAL CENTER
Nearly $202 million in federal funding coming to North Carolina is planned to support small businesses throughout the state through lending initiatives and equity investments in venture capital funds. The NC Rural Center has been allocated this allotment of State Small Business Credit Initiative (SSBCI) funding to continue these programs by the US Treasury Department through the NC State Legislature’s recently passed budget.
STRATEGIC GROWTH LOAN
NORTH CAROLINA BIOTECHNOLOGY CENTER
SGL awards of up to $250,000 will be matched by an equal or greater investment from one or more organized angel groups or venture capital firms. For certain exceptionally well-qualified applicants that have a larger matching investment from a top-tier life science investment group, an SGL award of up to $500,000 will be possible.
TEMPORARY UNEMPLOYMENT INSURANCE REFUNDABLE TAX CREDIT
NORTH CAROLINA DEPARTMENT OF REVENUE
A small business that makes contributions during the taxable year to the State Unemployment Insurance Fund with respect to wages paid for employment in this State is allowed a credit equal to twenty-five percent (25%) of the contributions.
North Dakota
INTERNSHIP EMPLOYMENT CREDIT
NORTH DAKOTA OFFICE OF THE STATE TAX COMMISSIONER
An individual, estate, trust, partnership, corporation, or limited liability company is allowed an income tax credit for employing an individual under an internship program located in North Dakota.
Eligibility Requirements
An intern must be enrolled in a college or vocational technical education program majoring in a field related to the work to be performed, and must be supervised and evaluated by the employer. The internship must qualify for academic credit.
Application Information
For more information about this tax incentive, please contact the Office of State Tax Commissioner at the given contact info below.
North Dakota Office of the State Tax Commissioner
600 E. Boulevard Ave. Dept. 127
Bismarck, ND 58505-0599
Phone: 701-328-7088
Fax: 701-328-3700
[email protected]
WORKFORCE RECRUITMENT CREDIT
NORTH DAKOTA OFFICE OF THE STATE TAX COMMISSIONER
An individual, estate, trust, partnership, corporation, or limited liability company is allowed an income tax credit for employing extraordinary recruitment methods to recruit and hire employees for hard-to-fill positions in North Dakota.
Eligibility Requirements
To qualify, an employer must pay an annual salary that is at least 125% of North Dakota's average wage and must have employed all of the following recruitment methods for at least six months to fill a position for which the credit is claimed:
- Contracted with a professional recruiter for a fee;
- Advertised in a professional trade journal, magazine, or other publication directed at a particular trade or profession;
- Provided employment information on a website for a fee; and
- Paid a signing bonus, moving expenses, or atypical fringe benefits.
Application Information
For more information about this tax incentive, please contact the Office of State Tax Commissioner at the given contact info below.
Additional information available from the Job Service North Dakota.
ACCELERATED GROWTH LOAN PROGRAM
BANK OF NORTH DAKOTA
The Accelerated Growth Loan Program assists North Dakota-based technology companies with solid operations, good management and strong cash flow that are positioned for a period of accelerated growth or can show consistent monthly revenues above $50,000. These companies normally have limited assets to qualify for traditional bank financing.
AG COMMODITY EXPORT ENHANCEMENT PROGRAM
BANK OF NORTH DAKOTA
The Ag Commodity Export Enhancement Program is a tool for North Dakota ag commodity exporters to facilitate export sales to foreign buyers. BND works with the Export-Import Bank (Ex-Im) to provide insurance coverage of not less than 90 percent on bulk commodity sales as well as processed ag product transactions.
AGRICULTURAL COMMODITY PROCESSING FACILITY INVESTMENT TAX CREDIT
NORTH DAKOTA OFFICE OF THE STATE TAX COMMISSIONER
An individual, estate, trust, partnership, corporation, or limited liability company is allowed an income tax credit for investing in a certified agricultural commodity processing facility in North Dakota.
AGRICULTURAL COMMODITY PROCESSING PLANT CONSTRUCTION MATERIALS SALES TAX EXEMPTION
NORTH DAKOTA OFFICE OF THE STATE TAX COMMISSIONER
Construction materials used to construct an agricultural commodity processing facility are exempt from sales and use taxes.
AGRICULTURAL PRODUCTS UTILIZATION COMMISSION (APUC)
NORTH DAKOTA DEPARTMENT OF AGRICULTURE
The mission of APUC is to create wealth and jobs though the development of new and expanded uses of agricultural products. This is accomplished through the administration of a grant program.
AGRICULTURE PARTNERSHIP IN ASSISTING COMMUNITY EXPANSION (AG PACE)
BANK OF NORTH DAKOTA
The Ag PACEÂ loan provides interest buydown on loans to farmers or ranchers investing in nontraditional agriculture activities to supplement farm income.
ANGEL FUND INVESTMENT CREDIT
NORTH DAKOTA DEPARTMENT OF COMMERCE
An income tax credit is available to individuals who set up a North Dakota angel fund for the purpose of pooling their monies to make qualified investments in qualified businesses.
AUTOMATION CREDIT/21ST CENTURY MANUFACTURING WORKFORCE INCENTIVE
NORTH DAKOTA OFFICE OF THE STATE TAX COMMISSIONER
An income tax credit is allowed to a primary sector business for purchasing new or used automation and robotic machinery and equipment for the purpose of upgrading or advancing a manufacturing process.
BANK PARTICIPATION PROGRAM
BANK OF NORTH DAKOTA
BND assists a financial institution with a borrower whose financing needs have outgrown the legal lending or exposures limits of the originating lender. Loans must serve the legitimate credit needs of the state and are made on a sound and collectible basis.
BANK STOCK LOAN
BANK OF NORTH DAKOTA
The Bank Stock Loan provides financing options for the acquisition or refinancing of bank stock for North Dakota financial institutions.
BEGINNING ENTREPRENEUR LOAN GUARANTEE PROGRAM
BANK OF NORTH DAKOTA
The Beginning Entrepreneur Loan Guarantee Program assists with business startup financing by providing financial institutions with guaranty of a loan not to exceed $500,000. It may be used in conjunction with other BND programs.
BEGINNING FARMER CHATTEL LOAN
BANK OF NORTH DAKOTA
The Beginning Farmer Chattel Loan program assists beginning ranchers with the purchase of equipment and livestock.
BEGINNING FARMER REAL ESTATE LOAN
BANK OF NORTH DAKOTA
The Beginning Farmer Real Estate Loan assists the farmer or rancher with the purchase of farm real estate.
BIODIESEL TAX CREDITS
NORTH DAKOTA OFFICE OF THE STATE TAX COMMISSIONER
A corporation is allowed an income tax credit for adapting or adding equipment to retrofit a facility or to construct a new facility in North Dakota that either produces or blends biodiesel fuel or green diesel fuel or crushes soybeans or canola.
BIOFUELS PARTNERSHIP IN ASSISTING COMMUNITY EXPANSION PROGRAM (BIOFUELS PACE PROGRAM)
BANK OF NORTH DAKOTA
Biofuels PACE Program provides interest buydown on loans to biodiesel, ethanol or green diesel production facilities and livestock operations.
Business Development Loan Program Bank of North Dakota The Business Development Loan Program assists new and existing businesses to obtain loans that have a higher degree of risk than would normally be acceptable to a lending institution. It may be used to start or expand a new business or for refinancing.
CARBON DIOXIDE FOR ENHANCED OIL AND GAS RECOVERY SALES TAX EXEMPTION
NORTH DAKOTA OFFICE OF THE STATE TAX COMMISSIONER
A sales tax exemption is available for purchasing tangible personal property used to construct or expand a system to compress, gather, collect, store, transport or inject carbon dioxide for use in enhanced recovery of oil or natural gas in North Dakota.
COAL CONVERSION FACILITY PRIVILEGE TAX EXEMPTIONS
NORTH DAKOTA OFFICE OF THE STATE TAX COMMISSIONER
A privilege tax, which is in lieu of property taxes on the facility, is imposed monthly on a coal conversion facility. The land on which the plant is located remains subject to property tax.
COAL GASIFICATION BYPRODUCTS SALES TAX EXEMPTION
NORTH DAKOTA OFFICE OF THE STATE TAX COMMISSIONER
A sales and use tax exemption may be granted for purchasing tangible personal property used to construct or expand a facility in North Dakota to extract or process byproducts associated with coal gasification.
COAL MINE MACHINERY OR EQUIPMENT SALES TAX EXEMPTION
NORTH DAKOTA OFFICE OF THE STATE TAX COMMISSIONER
A sales and use tax exemption and refund may be granted for machinery or equipment used to produce coal from a new mine in North Dakota.
COAL SEVERANCE TAX REDUCTION
NORTH DAKOTA OFFICE OF THE STATE TAX COMMISSIONER
The coal severance tax is imposed on coal served for sale or industrial purposes, with some exemptions, in lieu of sales and use taxes on coal and property tax on minerals in the earth. A reduction in the tax is allowed under certain circumstances.
COMPUTER AND TELECOMMUNICATIONS EQUIPMENT SALES TAX EXEMPTION
NORTH DAKOTA OFFICE OF THE STATE TAX COMMISSIONER
For primary sector businesses other than manufacturers and recyclers, a sales and use tax exemption is allowed for purchases of computer and telecommunications equipment.
CREDIT FOR EMPLOYING DEVELOPMENTALLY DISABLED OR SEVERELY MENTALLY ILL PERSON
NORTH DAKOTA OFFICE OF THE STATE TAX COMMISSIONER
An income tax credit is allowed for employing an individual with a developmental disability or severe mental illness.
CREDIT FOR WAGES PAID TO MOBILIZED EMPLOYEE
NORTH DAKOTA OFFICE OF THE STATE TAX COMMISSIONER
An eligible employer is allowed an income tax credit for continuing to pay part or all of the wages of an eligible employee while the employee is on active duty in the U.S. armed forces.
ELECTRICAL GENERATING FACILITIES SALES TAX EXEMPTION
NORTH DAKOTA OFFICE OF THE STATE TAX COMMISSIONER
Various types of electrical generating facilities are eligible for sales tax exemptions.
ENDOWMENT FUND CONTRIBUTION CREDIT
NORTH DAKOTA OFFICE OF THE STATE TAX COMMISSIONER
An estate, trust, C corporation, and any other type of business entity (except a sole proprietorship) is allowed an income tax credit for making a charitable contribution to a qualified endowment fund.
ENVEST PROGRAM (VALUE-ADDED AGRICULTURE EQUITY LOAN PROGRAM)
BANK OF NORTH DAKOTA
The Envest Loan is to purchase shares in an ag processing plant intended to process North Dakota products or for the purchase of equity shares in a North Dakota feedlot or dairy operation that feeds a byproduct of an ethanol or biodiesel facility.
EQUIPMENT EXPORT ENHANCEMENT PROGRAM
BANK OF NORTH DAKOTA
Export Enhancement Program is a financing tool for foreign buyers purchasing equipment from North Dakota manufacturers. Loans are made by BND and are guaranteed by the Export-Import Bank of the United States (Ex-Im Bank) utilizing their medium-term credits program.
ESTABLISHED FARMER REAL ESTATE LOAN PROGRAM
BANK OF NORTH DAKOTA
The Established Farmer Real Estate Loan assists a farmer or rancher with financing of agricultural purposes.
FAMILY FARM LOAN PROGRAM
BANK OF NORTH DAKOTA
The Family Farm Loan Program allows a farmer to purchase or refinance land, equipment or livestock or to restructure operating debt.
FARM AND RANCH PARTICIPATION PROGRAM
BANK OF NORTH DAKOTA
BND assists a financial institution with a borrower whose financing needs have outgrown the legal lending or exposures limits of the originating lender.
FARM OPERATING LOAN PROGRAM
BANK OF NORTH DAKOTA
This loan funds operating expenses. The Bank may participate in farm operating loans with the minimum requirements for eligibility as a farmer.
FARM REAL ESTATE LOAN GUARANTEE PROGRAM
BANK OF NORTH DAKOTA
This loan assists farmers with purchasing or restructuring agricultural real estate loans by providing a financial institution with a 75 percent guarantee of total loans that do not exceed $400,000 to an individual borrower.
FIRST TIME FARMER FINANCE PROGRAM
BANK OF NORTH DAKOTA
The First Time Farmer Finance Program is a tax-exempt bond program that assists first time farmers and ranchers in North Dakota to acquire agricultural property at low interest rates.
FLEX PACE PROGRAM
BANK OF NORTH DAKOTA
Flex PACE allows communities the ability to provide assistance to businesses that do not meet the primary sector definition of PACE. In addition to this program, specific Flex PACE options have been developed for child care facilities and affordable housing projects. No job creation is required for any Flex PACE Program options.
FSA GUARANTEED LOAN PURCHASE PROGRAM
BANK OF NORTH DAKOTA
The FSA (Farm Service Agency) Guaranteed Loan Purchase provides low interest rate loans to North Dakota farmers with bank financing that includes a loan guarantee from a federal government program. BND participates by purchasing the guaranteed portion of the promissory note. The purchase is conditioned upon the borrower receiving the benefit of the lower interest rate on the purchased portion of the note.
GAS PROCESSING FACILITIES SALES TAX EXEMPTION
NORTH DAKOTA OFFICE OF THE STATE TAX COMMISSIONER
A sales and use tax exemption may be granted for purchasing building materials, equipment, and other tangible personal property used in the expansion or construction of a gas processing facility. Also, tangible personal property used to construct or expand a system to compress, process, collect, or gather gas recovered from an oil or gas well in North Dakota may qualify for an exemption.
INDUSTRIAL DEVELOPMENT BOND PROGRAM
NORTH DAKOTA PUBLIC FINANCE AUTHORITY
Under its Industrial Development Bond Program (IDB), the Authority makes loans to manufacturers that qualify as small issue manufacturers.
INNOVATE ND
NORTH DAKOTA DEPARTMENT OF COMMERCE
Innovate North Dakota is a voucher and grant program available to entrepreneurs in North Dakota.
Innovation Technology Loan Fund (LIFT) North Dakota Department of Commerce the Innovation Technology Loan Fund (LIFT) is an innovation loan fund that supports technology advancement by providing financing for commercialization of intellectual property within the state of North Dakota.
LIQUEFIED GAS PROCESSING SALES TAX EXEMPTION
NORTH DAKOTA OFFICE OF THE STATE TAX COMMISSIONER
A sales and use tax exemption may be granted for purchasing tangible personal property used to construct or expand a processing facility in North Dakota that produces liquefied natural gas.
MANUFACTURING, AGRICULTURE, OR RECYCLING EQUIPMENT SALES TAX EXEMPTION
NORTH DAKOTA OFFICE OF THE STATE TAX COMMISSIONER
A new or expanding plant may exempt machinery or equipment from sales and use taxes if it is used primarily for manufacturing or agricultural processing used solely for recycling.
MATCH PROGRAM
BANK OF NORTH DAKOTA
The Match Program provides low interest rates to encourage and attract financially strong companies to North Dakota.
NEW OR EXPANDING BUSINESS PROPERTY TAX EXEMPTION
NORTH DAKOTA OFFICE OF STATE TAX COMMISSIONER
A new or expanding business project that is certified as a primary sector business by the Department of Commerce Division of Economic Development and Finance may be granted a property tax exemption for up to five years.
NEW/EXPANDING BUSINESS INCOME TAX EXEMPTION
NORTH DAKOTA OFFICE OF THE STATE TAX COMMISSIONER
Any new or expanding business project may qualify for an income tax exemption for up to five years.
NORTH DAKOTA DEVELOPMENT FUND
NORTH DAKOTA DEPARTMENT OF COMMERCE
The North Dakota Development Fund (NDDF) provides flexible gap financing for new or expanding primary sector businesses in North Dakota.
NORTH DAKOTA ETHANOL INCENTIVE PROGRAM
NORTH DAKOTA DEPARTMENT OF COMMERCE
The ethanol production helps producers during adverse times when ethanol prices are unusually low and/or corn prices are unusually high. When these prices are normal or better than normal, the incentive is phased out and market conditions are allowed to prevail.
NORTH DAKOTA NEW JOBS TRAINING PROGRAM
JOB SERVICE NORTH DAKOTA
This North Dakota program offers incentives to primary sector businesses that are creating new Full Time employment opportunities through business expansion, creation and/or relocation to the state.
OIL REFINERIES SALES TAX EXEMPTION
NORTH DAKOTA OFFICE OF THE STATE TAX COMMISSIONER
A sales and use tax exemption may be granted for building materials, equipment, and other tangible personal property used to expand or construct an oil refinery in North Dakota.
OPERATION INTERN
NORTH DAKOTA DEPARTMENT OF COMMERCE
The focus of the program is the creation of new internships and apprenticeships within the state targeted industries. Priority will be given to new startups, companies who have never participated in the program, and new internship or apprenticeship positions.
PARTNERSHIP IN ASSISTING COMMUNITY EXPANSION (PACE)
BANK OF NORTH DAKOTA
The PACE Fund helps communities expand their economic base by assisting Primary Sector businesses that make an investment or create jobs in their community.
RENAISSANCE ZONES
NORTH DAKOTA OFFICE OF THE STATE TAX COMMISSIONER
Businesses and individuals may qualify for one or more tax incentives for purchasing, leasing, or making improvements to real property located in a North Dakota renaissance zone.
RENEWABLE ENERGY PROGRAM
NORTH DAKOTA INDUSTRIAL COMMISSION
The Renewable Energy Program promotes the growth of renewable energy industries through research, development, marketing and education.
RESEARCH EXPENSE CREDIT
NORTH DAKOTA OFFICE OF THE STATE TAX COMMISSIONER
An individual, estate, trust, partnership, corporation, or limited liability company is allowed an income tax credit for conducting research in North Dakota.
REVOLVING RURAL LOAN FUND
NORTH DAKOTA DEPARTMENT OF COMMERCE
Provides flexible gap financing for new or expanding primary sector businesses located in a community of less than 8,000 in population or located more than five miles outside of city limits.
RURAL INCENTIVE GROWTH PROGRAM
NORTH DAKOTA DEPARTMENT OF COMMERCE
A loan is made to the city, which in turn loans money to a North Dakota business that provides a community an essential service with ND Dept. of Commerce Commissioner approval.
SBA GUARANTEED LOAN PURCHASE PROGRAM
BANK OF NORTH DAKOTA
The SBA Guaranteed Loan Purchase Program provides low interest rate loans to North Dakota businesses with bank financing which includes a loan guarantee from the US Small Business Administration. BND can participate in a SBA guaranteed loan by purchasing the guaranteed portion of the promissory note. The purchase is conditioned upon the borrower receiving the benefit of the lower interest rate on the purchased portion of the note.
SEED CAPITAL INVESTMENT CREDIT
NORTH DAKOTA OFFICE OF THE STATE TAX COMMISSIONER
An individual, estate, trust, partnership, corporation, or limited liability company is allowed an income tax credit for investing in a business certified by the Department of Commerce Division of Economic Development and Finance.
TAX EXEMPTION FOR DATA CENTERS
NORTH DAKOTA OFFICE OF THE STATE TAX COMMISSIONER
Owners, operators, and tenants of a qualified data center may be granted a sales tax exemption on information technology equipment and computer software, including replacement equipment and software, purchased after December 31, 2020.
USDA GUARANTEED LOAN PURCHASE PROGRAM
BANK OF NORTH DAKOTA
The USDA (United States Department of Agriculture) Guaranteed Loan Purchase Program provides low interest rate loans to North Dakota businesses with bank financing that includes a loan guarantee from a federal government program such as the USDA Rural Development Business & Industry Loan Programs. BND can participate in a government guaranteed loan by purchasing the guaranteed portion of the promissory note. The purchase is conditioned upon the borrower receiving the benefit of the lower interest rate on the purchased portion of the note.
VALUE-ADDED GUARANTEE LOAN
BANK OF NORTH DAKOTA
The Value-added Guarantee Loan assists North Dakota-based companies that want to invest in value-added agriculture and energy products that add value to North Dakota commodities.
VENTURE CAPITAL FUND
NORTH DAKOTA DEPARTMENT OF COMMERCE
The Venture Capital Fund offers a variety of financing options in the form of traditional or convertible debt and equity investment. The structure of the investment is negotiated on a case-by-case basis. The program is managed by the North Dakota Development Fund, a division of the North Dakota Department of Commerce.
Ohio
166 DIRECT LOAN
JOBSOHIO
The 166 Direct Loan Program (166 Direct Loan) provides capital for expansion projects to companies that have limited access to capital and funding from conventional, private sources of financing.
Eligibility Requirements
Eligible Projects:
Eligible projects include those related to commerce, manufacturing, distribution or research activities in targeted industries. Retail projects are ineligible for the 166 Direct Loan. Refinancing is ineligible.
Allowable Project Costs/Uses:
1) Land and/or building purchase if the project involves the purchase of an existing building, the business must occupy at least 51% of the premises
2) Machinery & equipment purchase
3) Building construction and/or renovation costs if the project involves new construction the business must occupy at least 60% of the premises
4) Long-term leasehold improvements
5) Capitalized costs directly related to a fixed-asset purchase.
Application Information
The program requires a 10% minimum equity contribution in the allowable project costs/uses. The required contribution may be higher, depending on the company’s financial and operating position and the project’s characteristics. At least 50% of the allowable project costs must be funded by the borrower, either directly or indirectly through third-party investors and/or lenders.
Program Fees:
1) Commitment fee equal to 1.25% of the loan amount capped at $12,500 is due to proceed with the loan closing and loan documentation process.
2) Annual servicing fee equal to 0.25% of the outstanding principal amount of the loan is pro- rated and payable monthly.
Additional information available from JobsOhio.
166 DIRECT REGIONAL LOAN
OHIO DEPARTMENT OF DEVELOPMENT
The Regional 166 Direct Loan Program ("Regional 166 Direct Loan" or the "Program") promotes economic development, business expansion, and job creation and/or retention by providing low interest loans to businesses who may have limited access to adequate capital from private sources of financing.
Eligibility Requirements
Refinancing and retail projects (as defined by the Ohio Revised Code Chapter 166) are ineligible. The Program has been designed to provide financing to established businesses with a minimum of 2-3 years of financial operating history, who may have challenges in obtaining adequate financing required to grow their business and create jobs. The Program is not designed to provide financing to start-ups; however, the Director reserves the right to consider a waiver of this prohibition in extraordinary circumstances at the request of the Administrator. The Administrator’s waiver request should be accompanied by documentation supporting a business case that there is a strong management team in place with demonstrated success in running a business of this type, a strong business plan with realistic financial projections based on experienced management’s previous proven successes operating a business of this type, strong guarantor support, strong collateral/security, possible participation in the Project by a commercial lender to share risk, and compelling economic development reasons.
Application Information
Application Process
- The business customer or participating financial institution should contact a local Regional 166 Direct Loan Program Administrator who will perform a preliminary investigation of the customer's financing needs (the Project) and their business to evaluate if the project might be eligible for participation in the Regional 166 Direct Loan Program.
- Applications are accepted by the Program Administrators.
- Approval by the Regional 166 Direct Loan Program Administrator's Board is required.
- Once approved by the Program Administrator's Board, approval is required by the Ohio Department of Development's Loan Action Working Group prior to being submitted to the State Controlling Board for final approval.
- Following Controlling Board approval, the business can proceed with the project and the Program Administrator will prepare and execute loan documents outlining the terms of the loan and repayment obligation.
Please see the website for list of regional contacts.
Additional information available from the Ohio Department of Development.
COLLATERAL ENHANCEMENT PROGRAM (CEP)
OHIO DEPARTMENT OF DEVELOPMENT
The Ohio Development Services Agency Collateral Enhancement Program (CEP) was created to facilitate increased lending by banks to small businesses, and minority- and women-owned businesses that need access to capital for growth or expansion. The program supplies pledged cash collateral accounts to lending institutions to enhance collateral coverage coverage of individual small business loans.
Eligibility Requirements
Eligible borrowers:
New or existing corporations, partnerships, LLCs, and sole proprietorships headquartered in Ohio. In addition, they are businesses that:
- Have fewer than 250 employees.
- Are creating or retaining jobs as a result of the lender loan.
- Have revenues equal to or less than $20 million in their most recent fiscal year.
- Are registered with the Ohio Secretary of State.
- Have a historical or projected business debt coverage ratio minimum 1:1 and 1.2:1 globally.
- Borrowers that sign all CEP Borrower Certifications.
Ineligible businesses include:
- Businesses involved in real estate investment, including shopping centers, salon suites, and similar business models that generate income by renting space to accommodate independent businesses that provide services directly to the public.
- Businesses involved in speculative activities, lending or leasing activities, pyramid sales, illegal activities, gambling activities, charitable institutions, religious institutions, consumer and marketing cooperatives, and other nonprofits.
- Small businesses whose principal of the business has been convicted of a sex offense against a minor.
Lender eligibility:
- A state depository.
- If lender is a CDFI, it’s an organization with strong business lending experience and financial strength.
- If lender is a credit union, it’s in good standing.
- Lenders whose principals have not been convicted of a sex offense against a minor.
- Lenders that sign all CEP Lender Certifications.
Application Information
Borrowers must contact a lender (a bank, credit union, or community development financial institution) and complete the lender’s standard loan application. Borrower must sign the Collateral Enhancement Program Borrower Certifications and submit to the lender.
Ohio Department of Development (Development):
- Reviews application for completeness, eligibility, and appropriateness.
- Development approves/declines request.
- Sends a CEP Approval Letter with closing instructions and a CEP Cash Collateral Deposit Agreement to Lender.
- Sends a declination email to Lender if application is declined.
- Once Development receives the loan closing documents and required CEP documentation from the lender, the CEP deposit/allocation is prepared.
Additional information available from the Ohio Department of Development.
ENERGY LOAN FUND
OHIO DEPARTMENT OF DEVELOPMENT
The Energy Loan Fund provides financing for Ohio businesses, non-profits, and public entities to complete energy efficiency and advanced energy projects.
Eligibility Requirements
Eligible Applicants: Small businesses, local governments, manufacturers, school districts, colleges and universities, and nonprofit organizations are eligible to apply.
Eligible efficiency measures include insulation, LED lighting, energy efficiency lighting technologies, energy management control systems, HVAC upgrades, weather sealing, door and window replacements, combined heat and power systems, and cogeneration systems.
In order for energy distribution technologies and renewable energy technologies to be eligible, they must be a part of a larger energy efficiency project. All projects must achieve at least a 15 percent reduction in energy usage, demonstrate economic and environmental impacts and be included within a long-term energy strategy.
Application Information
Applications will be awarded until all funds have been exhausted. Development, at its discretion, may amend the award amount, funding availability amount, or criteria in awarding funds. Qualifying applications will be funded until all the funds available for distribution under this program are awarded or Development determines the program no longer suits the best interests of the State of Ohio. In addition to this new program, the Office of Energy has implemented an online system that will streamline the application and reporting process for our customers. Details on the application process are described in the eligibility guidelines of the Energy Loan Fund.
All organizations interested in applying for an Energy Loan must first register and submit a Pre-Application. The Pre-Application must include:
1) An overview of the proposed project;
2) Projected energy use savings;
3) Projected energy cost savings;
4) Simple payback with incentives, if applicable;
5) Loan amount requested and cost share; and
6) A description of the anticipated expenses for which the loan and cost share will be used.
Additional information available from the Ohio Department of Development.
GROWNOW
OFFICE OF THE OHIO TREASURER
GrowNow, a partnership between eligible banks and the Ohio Treasurer’s office, enables small business owners to receive up to a 3% interest rate reduction on new or existing small business loans for two years, with the opportunity for renewal for another two year period.
Eligibility Requirements
Eligible business owners must meet the following criteria:
1) Have less than 150 employees
2) Have headquarters in Ohio
3) Maintain offices and operating facilities exclusively in Ohio
4) Must have a majority of employees be Ohio residents
5) Must be organized for profit
6) Must be able to save or create one full-time or two part-time jobs in Ohio for every $50,000 borrowed.
Application Information
Follow these simple steps to complete your application:
1) View a list of eligible banks (Please note: Only “public depository” banks, as that term is used in Chapter 135 of the Ohio Revised Code, are eligible to participate in Economic Development programs sponsored by the Ohio Treasurer’s office. Contact this office if your current bank is unable to participate, so we can provide alternate participating banks in your area.)
2) Apply for a small business loan at a participating bank and establish an interest rate. Alternatively, GrowNOW interest rate reductions may be applied to an existing loan.
3) Complete an online GrowNOW application with your bank. Paper applications can be used to gather your information in advance of online entry.
4) If the application meets all program requirements it will be approved, and the Ohio Treasurer’s office will deposit funds at the participating bank in an interest bearing financial instrument.
5) In turn, the bank uses the interest generated to provide the interest rate reduction.
Upon submission of your completed application, the Economic Development department within the Treasurer’s office typically determines eligibility within 5 business days.
Additional information available from the Office of the Ohio Treasurer.
JOB CREATION TAX CREDIT
JOBSOHIO
The program provides a refundable and performance-based tax credit calculated as a percent of created payroll and applied toward the company's commercial activity tax liability.
Eligibility Requirements
Companies creating at least 10 jobs (within three years) with a minimum annual payroll of $660,000 and that pay at least 150 percent of the federal minimum wage are eligible for the credit; however, they must apply for the credit before committing to a project. The Ohio Tax Credit Authority must approve applicants before hiring begins. The Ohio Tax Credit Authority must approve applicants before hiring begins.
Contact Information
JobsOhio
41 S High St #1500
Columbus, OH 43215
Phone: (614)245-2462
[email protected]
Additional information available from JobsOhio.
JOBSOHIO WORKFORCE GRANT
JOBSOHIO
The JobsOhio Workforce Grant was created to promote economic development, business expansion, and job creation by providing funding for the improvement of worker skills and abilities in the State of Ohio.
Eligibility Requirements
Eligible Projects:
The program includes projects by companies engaged in JobsOhio’s targeted industries and business functions. JobsOhio will set a wage floor based on multiple wage considerations. Ineligible projects include but are not limited to retail and other population driven businesses.
Eligible Costs
The JobsOhio Workforce Grant focuses on a company’s training costs, which may include the following:
1) Information technology
2) Maintenance, skilled trades
3) Leadership skills
4) Product knowledge
5) Quality management and processes
6) Safety training (industry specific)
7) Supervisory
8) Technical processes
9) Technical training
10) On-the-Job training
11) Equipment
12) Materials
13) Travel costs (domestic and international).
Application Information
The JobsOhio Workforce Grant term is based upon the project’s completion date. The JobsOhio Workforce Grant is reimbursement-based and requires supporting documentation.
Additional information available from JobsOhio.
MINORITY BUSINESS BONDING PROGRAM
OHIO DEPARTMENT OF DEVELOPMENT
The Minority Business Bonding Program provides bid, performance, and payment surety bonds to state certified minority-owned businesses that are unable to obtain bonding through standard surety companies.
Eligibility Requirements
All applicants must meet the following criteria:
1) Be defined as a "Minority Business" as set forth in Section 122.71(E) (1) of the Ohio Revised Code.
2) Be certified by the Equal Opportunity Division of the Department of Administrative Services as a minority business enterprise (MBE).
3) Applicant must not have defaulted on a previous bond issued by the Director and no general or limited partner or shareholder in the minority business enterprise may have defaulted on a previous bond issued by the Director.
All projects must meet the following criteria:
1) Be economically sound,
2) Benefit the people of the state by increasing opportunity for employment, and
3) Expand the minority business enterprise.
The applicant must meet the following criteria:
1) Demonstrate adequate insurance coverage on its business operation and key employees.
2) Have a line of credit equal to or greater than 20 percent of the bonded amount or;
3) Demonstrate sufficient financial resources to justify a lesser credit facility.
Once accepted into the program, businesses will be required to provide quarterly financial statements prepared by an independent certified public accountant, a license public accountant or a preparer acceptable to the Director to maintain their eligibility.
The Director will require removal of state tax liens.
Application Information
Step 1: Contact Shaundretta Boykins, Manager of Business Solutions, Minority Business Development Division, to begin application process.
Step 2: Documentation will be reviewed by the Minority Business Development Division for eligibility.
Step 3: If eligible, Minority Business Development Division will present to Minority Development Financing Advisory Board (MDFAB).
Step 4: If approved by MDFAB, request will be sent to State Controlling Board for approval and disbursal of state funds.
Step 5: If approved, the Department of Development will prepare Commitment Letter between state and borrower that must be signed.
Additional information available from the Ohio Department of Development.
MINORITY BUSINESS DIRECT LOAN
OHIO DEPARTMENT OF DEVELOPMENT
The Ohio Minority Direct Loan Program provides fixed, low-interest rate loans to certified minority-owned businesses that are purchasing or improving fixed assets resulting in creating new jobs for Ohioans.
Eligibility Requirements
Eligible borrowers include any operating business certified by the State of Ohio as a Minority Business Enterprise (MBE) and demonstrate that its fixed-asset expansion/retention project will create or retain jobs for Ohioans. The business must have its principal place of business and its business operations located in Ohio.
The Minority Business Direct Loan Program may lend funds to businesses engaged in commerce, manufacturing, research and development, or distribution.
Under Ohio Revised Code Chapter 122.76 (A), other eligible borrowers include Community Improvement Corporations and Ohio Development Corporations.
Application Information
The first step is to complete the preliminary eligibility information form. After that is submitted, you will be contacted for an eligibility interview with our staff, or you will be referred to your area Minority Business Assistance Center for help with state certification.
Additional information available from the Ohio Department of Development.
OHIO CAPITAL ACCESS PROGRAM
OHIO DEPARTMENT OF DEVELOPMENT
The Ohio Capital Access Program (OCAP) is a loan portfolio insurance program (similar to a loan guarantee) that enables small businesses to obtain credit to help them grow and expand their businesses.
Eligibility Requirements
Eligible Businesses:
1) Corporations, partnerships, LLCs, and sole proprietorships
2) Small businesses with fewer than 250 employees
3) Small businesses that are creating or retaining jobs
4) Small businesses with revenues equal to or less than $10 million
5) Ohio businesses (principal place of business and activity in Ohio)
6) New or existing businesses
7) For-profit or nonprofit businesses
Loans can be used for:
1) short-term or long-term commercial real estate purchases, expansions, or renovations
2) Equipment purchases (new or used)
3) Leasehold improvements, working capital, inventory purchases, or rolling stock
4) Refinancing of another Lenders debt, start-up costs, franchise fees, or other business purposes.
Application Information
To become a participating CAP lender and enroll loans in the program financial institutions must contact the ODSA to obtain a Participation Agreement. Please see the website for all applicable forms.
Additional information available from the Ohio Department of Development.
OHIO ENTERPRISE BOND FUND (OEBF)
JOBSOHIO
The Ohio Enterprise Bond Fund (OEBF Loan), rated AA+ by Standard & Poor’s, promotes economic development, business expansion and job creation by providing financial assistance for allowable costs of eligible projects in the State of Ohio.
Eligibility Requirements
Eligible projects include those related to industry, commerce, manufacturing, distribution or research activities in targeted industries. Retail projects are ineligible for the Ohio Enterprise Bond Fund (OEBF) Loan. Refinancing is ineligible.
Allowable Project Costs/Uses
1) Land and/or building purchase if the project involves the purchase of an existing building, the business must occupy at least 51% of the premises
2) Machinery & equipment purchase
3) Building construction and/or renovation costs if the project involves new construction the business must occupy at least 60% of the premises
4) Long-term leasehold improvements
5) Capitalized costs directly related to a fixed-asset purchase.
Development requires a first and/or shared first priority mortgage and/or lien position on assets financed with the loan proceeds. Development may consider a shared position with participating third party lenders. This position is established via an intercreditor agreement between the participating lender(s), Development and the borrower. Development may require the following additional collateral or credit enhancements:
- Personal guarantees from owners of the company
- Corporate guarantees from related companies
- Full or partial letter of credit
- Life insurance on key business owners and/or managers
- Other types of credit enhancement, if necessary.
Application Information
Development requires a 10% minimum equity contribution in the allowable project costs/uses. The required contribution may be higher depending on the company’s financial and operating position and the project’s characteristics.
The Ohio Enterprise Bond Fund (OEBF) Loan requires a 10% reserve in the amount of the OEBF loan. This reserve may be satisfied by a letter of credit or cash reserve and must remain in place for the term of the OEBF Loan.
Program Fees:
- A $30,000 deposit is required to proceed with documenting the loan. These funds are applied to the project’s closing costs.
- Closing costs equal to 2% - 3% of the bond amount is due at closing
- Annual servicing fee equal to 0.25% of the outstanding principal amount of the loan is pro-rated and payable monthly
Additional information available from JobsOhio.
OHIO MICRO-LOAN PROGRAM
OHIO DEPARTMENT OF DEVELOPMENT
This loan program provides micro-loans at 0% interest to women or minority owned businesses.
Eligibility Requirements
You must be a woman or minority owned business as certified by the state and have been in operation for at least 1 year.
Application Information
What additional documents do I need to upload to the application?
- Three years of tax returns with all schedules included. If you are a sole proprietorship, personal tax returns. Form 1040, including Schedule C-business revenues. Less common schedules, Schedule A, capital gains, and Schedule E for real estate investors.
- If any other business structure: Form 1065 for Partnerships and 1120-S for corporations are the most common, including Schedule K-1, partnership income.
- Year-to-date financial statements: Balance sheet and income statement that are within 60 days of application submission.
- Debt Schedule, including (1) outstanding balance, (2) monthly payment, and (3) maturity.
- Projections for next two business years per program guidelines.
- Personal financial statement for all personal guarantors.
- Management Information:Provide owners’ individual resume, capability statement, or executive summary from your business plan. Include information about your business operations, how your business will benefit with competitive advantages pursuing this project, and the owners’ expertise and/or previous experience in this industry.
Sources and uses:
If machinery and/or equipment, provide invoice(s), including technical specifications and pricing.
If a vehicle, provide official dealer documentation, including VIN number. Only vehicles for exclusive use of the business (commercial type) are allowed.
If real estate, provide official documentation (e.g., real estate contract, land) and details of the proposed purchase. Investment and residential real estate of any type are not allowed.
If leasehold improvements/renovations, provide documentation, including but not limited to proposed budget, construction schedule, and/or cost estimates.
If payroll/hiring, how many employees will be hired as result of the project besides stockholders/owners.
Additional information available from the Ohio Department of Development.
SMALL BUSINESS DEVELOPMENT CENTERS OF OHIO (SBDC)
OHIO DEPARTMENT OF DEVELOPMENT
Since 1985, the Small Business Development Center (SBDC) program has fostered a strong climate for small business growth with many local community partners including college and universities, economic development agencies, chambers of commerce, and other community organizations.
Eligibility Requirements & Application Information
Please contact the Ohio Department of Development:
77 South High Street, P.O. Box 1001
Columbus, OH 43215
Phone: (614) 466-2711
Additional information available from the Ohio Department of Development.
TALENT ACQUISITION SERVICES
JOBSOHIO
The JobsOhio Talent Acquisition Services program (TAS) has been developed to identify a company’s talent challenges and build sustainable talent recruitment strategies that provide support at every stage of the candidate journey.
Eligibility Requirements
The Talent Acquisition Program (TAS) program is intended for companies that are expanding in or are new to Ohio with concerns around finding the right talent or executing the right talent strategies for their hiring needs.
Terms
The TAS program is a service provided by and a strategic engagement in collaboration with JobsOhio over a 12-24-month period. It is not a grant or a loan, but a professional service built and delivered with the company.
The TAS program is unique in that rather than disbursing funds, JobsOhio will spend the applicable program value on the company’s behalf to deliver the agreed upon talent acquisition strategy and related services. Depending on the company’s unique talent needs, the program can assist with attracting, screening, and training talent for open positions and provide strategic advising from a combination of JobsOhio Talent Team Members and JobsOhio partners. Service delivery will be customized for companies based on requirements and specifications for the particular project.
Eligible uses of funds:
1) Talent Advising (included in every project): JobsOhio will provide assistance in reviewing the candidate experience, attraction and application processes, refining outreach and intake, matching the company with relevant partners for long-term talent development and expanding talent pools based on regionally crafted strategies.
2) Candidate Marketing and Attraction: This use includes recruitment marketing strategy and supporting channel strategies, digital and traditional advertising costs (in and out of state), recruitment branding and creative development, job posting licensure, event promotion and sponsorships, and associated services with advertising job opportunities.
3) Sourcing Talent: One-to-one connections will be facilitated with validated talent pools and partners by the JobsOhio Talent Service. Labor market data for direct engagement will also be provided, as well as outreach and recruitment support.
4) Pre-screening Talent: Companies selected for this program will have use of and access to JobsOhio’s extensive menu of tools to ensure alignment between candidates and the company’s required skills, knowledge and abilities. Pre-screening tools can be customized to the company’s position requirements.
5) Pre-hire Training: Unlike the JobsOhio Workforce Training Grant (reimbursement model), the TAS program can fund pre-hire training activities for the company with no upfront costs for the company. Utilizing an agreed upon and standardized training curriculum, delivery would come from a trusted JobsOhio partner. Training delivery will be customized to the company’s requirements.
Application Information
For more information see the website.
Additional information available from JobsOhio.
TECHCRED
OHIO DEPARTMENT OF DEVELOPMENT
Ohio's TechCred Program gives employers the chance to upskill current and future employees in today’s tech-infused economy. Employers who submit successful applications will be reimbursed up to $2,000 per credential when current or prospective employees complete eligible technology-focused credentials.
Eligibility Requirements
The chancellor of higher education shall establish a list of approved microcredentials. For more information on eligibility reach out to the department.
Application Information
An employer seeking to participate in the program shall submit an application to the director of development during an application period established by the director. The employer shall include in the application all of the following information:
- Proof that the employer is registered to do business in this state;
- Proof that the employer is current on all tax obligations to the state;
- Proof that the employer is in compliance with all environmental regulations applicable to the employer;
- The name of the training provider from which a prospective or incumbent employee will receive the training and earn the microcredential;
- The cost of the training;
- The positions for which earning the microcredential will make a prospective or incumbent employee qualified or the occupational skill set that the prospective or incumbent employee will acquire on completing the training;
- The address of the facility or location at which the prospective or incumbent employee is expected to be employed after completing the training;
- Any other information the director requires.
Each participating employer seeking reimbursement for training costs for a prospective or incumbent employee shall submit an application to the director that includes all of the following information for each prospective or incumbent employee:
- The prospective or incumbent employee's name and position, if applicable, at the time of submitting the application;
- The actual amount the employer paid to the training provider for the training;
- Evidence that the prospective or incumbent employee earned a microcredential;
- Evidence that the prospective or incumbent employee is a resident of this state.
Additional information available from the Ohio Department of Development.
WOMEN’S BUSINESS ENTERPRISE LOAN PROGRAM
OHIO DEPARTMENT OF DEVELOPMENT
The Women’s Business Enterprise Loan Program provides loans to women run businesses at or below market rate.
Eligibility Requirements
You must be state certified as a either a women owned business enterprise or Women’s Business Enterprise National Council (WBENC) certification also is accepted. And have been operating for at least two years.
Application Information
Please see the website for application information.
Additional information available from the Ohio Department of Development.
AG-LINK
OFFICE OF THE OHIO TREASURER
Ag-LINK offsets impact of agricultural industry related up-front costs by providing an interest rate reduction on agriculture business operation loans at eligible banks and farm credit lenders.
BROWNFIELD REMEDIATION PROGRAM
OHIO DEPARTMENT OF DEVELOPMENT
This program is designed to provide grants for the remediation of brownfield sites across Ohio to clean up the sites and prepare them for future economic development.
COMMUNITY REINVESTMENT AREAS (CRA)
OHIO DEPARTMENT OF DEVELOPMENT
The Ohio Community Reinvestment Area program is an economic development tool administered by municipal and county government that provides real property tax exemptions for property owners who renovate existing or construct new buildings. The program is delineated into two distinct categories, those created prior to July 1994 ("pre-1994") and those created after.
CONVERSION FACILITIES TAX EXEMPTION
OHIO DEPARTMENT OF TAXATION
The State of Ohio provides tax exemptions for qualified facilities for energy conversion, solid waste energy conversion or thermal efficiency improvements.
CONVERSION TO COMMERCIAL ACTIVITY TAX (CAT) CREDIT
OHIO DEPARTMENT OF TAXATION
The program gives a tax credit to the commercial activity tax for job creation.
DATA CENTER TAX ABATEMENT
JOBSOHIO
The Data Center Tax Abatement provides a sales-tax exemption rate and term that allow for partial or full sales tax exemption on the purchase of eligible data center equipment.
ENTERPRISE ZONE PROGRAM
OHIO DEPARTMENT OF DEVELOPMENT
The Ohio Enterprise Zone is an economic development tool administered by municipal and county governments that provides real and personal property tax exemptions to businesses making investments in Ohio.
INNOVATION OHIO LOAN FUND
JOBSOHIO
The Innovation Ohio Loan Fund (IOF Loan) promotes assistance to existing Ohio companies in developing next generation products and services within certain Targeted Industry Sectors.
INVESTOHIO
OHIO DEPARTMENT OF DEVELOPMENT
InvestOhio provides a non-refundable personal income tax credit to investors that provide new equity (cash) into Ohio small businesses to acquire an ownership interest in the company.
JOBSOHIO ECONOMIC DEVELOPMENT GRANT
JOBSOHIO
The JobsOhio Economic Development Grant was created to promote economic development, business expansion, and job creation by providing for eligible projects in the State of Ohio.
JOBSOHIO GROWTH FUND LOAN
JOBSOHIO
The JobsOhio Growth Fund Loan provides capital for expansion projects to companies that have limited access to capital and funding from conventional, private sources of financing.
JOBSOHIO INCLUSION GRANT
JOBSOHIO
The JobsOhio Inclusion Grant exists to provide financial support for eligible projects in designated distressed communities and/or for businesses owned by underrepresented populations across the state.
JOBSOHIO REVITALIZATION PROGRAM
JOBSOHIO
The JobsOhio Revitalization Program funds projects that retain and create jobs, address environmental risks, and would otherwise have funding gaps. Primary focus is on projects where the cost of redevelopment and remediation is more than the value of the land and a site cannot be competitively developed in the current marketplace. This happens in two parts, the Loan and Grant Fund and the Phase II Assessment Fund.
LOAN LOSS RESERVE PROGRAM
OHIO DEPARTMENT OF DEVELOPMENT
The Loan Loss Reserve program offers credit enhancement to eligible Ohio Port Authorities as they originate loans for projects that make businesses’ and nonprofits’ facilities more energy efficient.
MICROENTERPRISE BUSINESS DEVELOPMENT PROGRAM
OHIO DEPARTMENT OF DEVELOPMENT
The Microenterprise Business Development Program provides grants to cities and counties and nonprofit organizations to assist in the development of local microenterprise businesses and to create and retain long-term jobs in the private sector.
OHIO BROWNFIELD REVOLVING LOAN FUND
OHIO WATER DEVELOPMENT AUTHORITY
The Ohio Water Development Authority (OWDA) Brownfield Loan Program offers below-market rate loans to assess and clean up brownfield properties. The program is open to both public and private entities that may use the funds to pay for Phase II assessments, demolition, cleanup, and consultant costs.
OHIO COAL RESEARCH AND DEVELOPMENT PROGRAM
OHIO DEPARTMENT OF DEVELOPMENT
OHIO DIESEL EMISSIONS REDUCTION GRANT
OHIO ENVIRONMENTAL PROTECTION AGENCY
The Diesel Emissions Reduction Grant Program provides support to public transit systems serving Ohio counties, for the early retirement and replacement of older diesel transit buses.
OHIO HISTORIC PRESERVATION TAX CREDITS
OHIO DEPARTMENT OF DEVELOPMENT
The Ohio Historic Preservation Tax Credit (OHPTC) helps finance the rehabilitation of historically significant buildings by offering a tax credit to owners or long time lessees of historic buildings.
OHIO INTERNATIONAL MARKET ACCESS GRANT FOR EXPORTERS (IMAGE)
OHIO DEPARTMENT OF DEVELOPMENT
The Ohio International Market Access Grant for Exporters (IMAGE) program funded through the State Trade Expansion Program (STEP) is designed to increase exports and create jobs. It is made up of three programs, the main IMAGE grant, an Export Training Grant, and the Appalachian Export Development Program.
OHIO MOTION PICTURE TAX CREDIT
OHIO DEPARTMENT OF DEVELOPMENT
The Ohio Motion Picture Tax Credit provides a refundable tax credit that equals 30 percent off in-state spend and non-resident wages and 30 percent in Ohio resident wages on eligible productions.
OHIO NEW MARKETS TAX CREDIT PROGRAM
OHIO DEPARTMENT OF DEVELOPMENT
The Ohio New Markets Tax Credit program provides an incentive for investors to fund businesses in low-income communities. These "new markets" are traditionally underserved by private sector capital.
OHIO RURAL BUSINESS GROWTH PROGRAM
OHIO DEPARTMENT OF DEVELOPMENT
The program provides an incentive to investors that capitalize companies with principal business in a county with less than 200,000 people.
OHIO VENTURE CAPITAL FUND PROGRAM
OHIO VENTURE CAPITAL AUTHORITY
The Ohio Venture Capital Fund Program was established by the Ohio General Assembly and Governor's office to increase the amount of private investment capital available in Ohio for Ohio companies in the seed or early stage of business development. These venture capital funds commit to invest at least half of the Ohio Capital Fund monies in Ohio-based companies, corporations and individuals.
ONSITE STORMWATER LOAN PROGRAM
OHIO WATER DEVELOPMENT AUTHORITY
The Ohio Water Development Authority created the Onsite Stormwater Loan Program to provide financial assistance for stormwater management projects that focus on treating stormwater at its source to minimize, avoid, or offset impacts on water resources and reduce flow to sewers or surface waters.
QUALIFIED DISTRIBUTION CENTER RECEIPTS EXCLUSION
OHIO DEPARTMENT OF TAXATION
Exclusion for qualifying distribution center receipts for purposes of the Commercial Activity Tax (CAT).
QUALIFIED ENERGY PROJECT TAX EXEMPTION
OHIO DEPARTMENT OF DEVELOPMENT
The Qualified Energy Project Tax Exemption provides owners (or lessees) of renewable, clean coal, advanced nuclear, and cogeneration energy projects with an exemption from the public utility tangible personal property tax.
RESEARCH & DEVELOPMENT INVESTMENT TAX CREDIT
OHIO DEPARTMENT OF DEVELOPMENT
The Ohio Research and Development Investment Tax Credit, which is authorized within Section 5751.51 of the Ohio Revised Code, is a nonrefundable credit against the Commercial Activity Tax (CAT).
RESEARCH AND DEVELOPMENT CENTER GRANT
JOBSOHIO
The Research and Development Center Grant supports (R&D) centers that support the development and commercialization of emerging technologies and/or products that align with one or more of JobsOhio’s targeted industries (Advanced Manufacturing, Aerospace & Aviation, Automotive, Healthcare, Financial Services, Food Processing, Information Technology, Logistics & Distribution and Shale Energy & Petrochemicals).
RESEARCH AND DEVELOPMENT INVESTMENT LOAN
JOBS OHIO
The Research and Development Investment Loan (R&D Loan) provides low-interest loans partnered with a tax credit to Ohio businesses that create research and development capabilities and high-wage jobs.
ROADWORK DEVELOPMENT (629) FUNDS
JOBSOHIO
The Roadwork Development Account (629) provides grant assistance to communities for highway and road projects related to job creation and retention.
RURAL INDUSTRIAL PARK LOAN PROGRAM
OHIO DEPARTMENT OF DEVELOPMENT
The Rural Industrial Park Loan Program was created to provide direct loans to local communities and other eligible applicants committed to creating well-planned industrial parks.
SALES AND USE TAX: AIRCRAFT PARTS AND REPAIR
OHIO DEPARTMENT OF TAXATION
Sales and use tax exemption for certain aircraft maintenance and repair transactions.
TAX INCREMENT FINANCING
OHIO DEPARTMENT OF DEVELOPMENT
Tax Increment Financing (TIF) is an economic development mechanism available to local governments in Ohio to finance public infrastructure improvements and, in certain circumstances, residential rehabilitation. Payments derived from the increased assessed value of any improvement to real property beyond that amount are directed towards a separate fund to finance the construction of public infrastructure defined within the TIF legislation.
THE EAST PALESTINE EMERGENCY SUPPORT PROGRAM
OHIO DEPARTMENT OF DEVELOPMENT
The East Palestine Emergency Support Program was created to provide loans to businesses impacted by the February 2023 train derailment in East Palestine, Ohio. Loans can be used to assist with ongoing expenses and recovery efforts.
TRANSFORMATIONAL MIXED-USE DEVELOPMENT PROGRAM
OHIO DEPARTMENT OF DEVELOPMENT
The Transformational Mixed-Use Development Program provides a tax credit against Development costs incurred during the construction of a project that will be a catalyst for future development in its area.
VOLUME CAP PROGRAM
OHIO DEPARTMENT OF DEVELOPMENT
The Volume Cap Program is a federally authorized program which allows the state to allocate tax-exempt bond authority to various projects throughout the state. With this authority, bond issuers are able to finance projects at interest rates below that of the conventional market.
Oklahoma
ALTERNATIVE FUEL VEHICLE (AFV) TAX CREDIT
OKLAHOMA DEPT. OF ENVIRONMENTAL QUALITY, OKLAHOMA DEPT. OF TRANSPORTATION
A one-time income tax credit is available for up to $50,000 towards the cost of purchasing a new original equipment manufactured AFV or converting a vehicle to operate on an alternative fuel. The state also provides a tax credit of 10% of the total vehicle cost, up to $1,500, if the incremental cost of a new AFV cannot be determined or when an AFV is resold, as long as a tax credit has not been previously taken on the vehicle. Equipment used for conversions must be new, not previously used to modify or retrofit any vehicle, meet applicable federal and state safety standards, and must be installed by a state certified alternative fuels equipment technician. Eligible alternative fuels include natural gas, propane, and hydrogen. Tax credits may be carried forward for up to five years.
Contact Information
Oklahoma Dept. of Environmental Quality, Oklahoma Dept. of Transportation
P.O.Box 1677
Oklahoma City, OK 73101-1677
Phone: 405-702-0100
Fax: 405-702-7102
Additional information available from the U.S. Department of Energy.
QUALITY JOBS - SMALL EMPLOYER
OKLAHOMA DEPARTMENT OF COMMERCE
This program provides quarterly incentive payments to a qualifying small employer (500 employees or less). Quarterly payments may be as much as 5% of new taxable payroll for up to 7 years.
The following requirements must be met before an application will be reviewed:
1) Basic industry: All applicants must be within a qualifying basic industry to receive benefits. The list of qualifying industries all of those of the regular Quality Jobs program (with the exception of Oil & Gas Companies), and an enhanced list from legislation. Applicants in some industries are required to have and maintain an out-of-state sales threshold of 50%.
2) New employment threshold: The applicant must create a minimum of 10 New Direct Jobs within the qualifying industry activity. A New Direct Job is one that did not exist in the state during the 6 month period prior to the application data. The company has up to 3 years to "ramp up" to this level of jobs to qualify for a full 10 years of program participation. Should the company not be able to add the 10 new jobs by the end of the 3rd year, they are dismissed from the program. Employees in these New Direct Jobs must work 30 or more hours per week to be considered "quality jobs". Under certain circumstances, "leased" employees may be eligible for program benefits with notification at the time of application and approval.
3) Health insurance coverage: All businesses must offer health insurance coverage to employees that are part of the job creation requirement. Employees must pay no more than 50% of the premium cost. All employees working 30 hours or more per week must be offered this insurance. The company has 12 months to institute a qualified basic health insurance coverage policy, and employees must be allowed access to the coverage within 12 months of employment.
4) Average wage requirement: An average wage requirement applies to all New Direct Jobs eligible for program benefits. Those employees in such jobs must be paid an annualized wage which equals or exceeds 300% of the average of Oklahoma County wage for the county in which the applicant is located; provided, no average wage requirement shall exceed the state index wage, currently $112,100. Employees must be paid at this annualized wage on a quarter by quarter basis throughout the program for the company to receive benefit payments. As opposed to the regular Quality Jobs Program, Opportunity Zones are not recognized in this program.
Application Information
A full list of required materials and documents are found on the program website.
Additional information available from the Oklahoma Department of Commerce.
SMALL BUSINESS LINKED DEPOSIT PROGRAM
OKLAHOMA STATE TREASURER'S OFFICE
The Small Business Linked Deposit Program provides low-interest certificates of deposit to financial institutions to provide lending capital to eligible small businesses and certified industrial parks which will directly create new jobs or save existing jobs.
Eligibility Requirements
Loans to businesses with less than 200 employees and gross annual sales of less than $4 million are eligible for up to $1 million. Industrial parks certified by the Oklahoma Department of Commerce are eligible for up to $6 million.
Application Information
Please contact the Oklahoma State Treasurer's office for more information
Additional information available from the Oklahoma State Treasurer's Office.
INVEST IN OKLAHOMA ACT
OKLAHOMA DEPARTMENT OF COMMERCE
The Invest in Oklahoma Programs is set up to allow a venture capital fund, growth fund or private equity fund which is either Oklahoma based, or which makes substantial investments in the State to participate. The program allows the State's pension funds to allocate up to 5% of assets under management to qualified funds.
THE FILMED IN OKLAHOMA ACT OF 2021
OKLAHOMA FILM AND MUSIC OFFICE
Oklahoma offers an incentive with a base of 20% to projects that film principal photography in the state. For more information, please see below and the additional tabs in this section.
ACCELERATE OKLAHOMA! FUND
I2E
The Accelerate Oklahoma! Fund provides critical capital and co-investment for Oklahoma entrepreneurs at specific stages of their companies' lifecycles.
AD VALOREM EXEMPTION
OKLAHOMA TAX COMMISSION
A qualifying manufacturing company can abate ad valorem taxes upon new, expanded or acquired manufacturing facilities and equipment for a period of five years. This incentive is available for manufacturing, research and development, warehouse and distribution, certain computer/data processing services, refinery and aircraft repair.
AEROSPACE INDUSTRY ENGINEER WORKFORCE TAX CREDIT
OKLAHOMA DEPARTMENT OF COMMERCE
The Aerospace Industry Engineer Workforce Tax Credit is for engineers employed by Oklahoma companies as well as for companies hiring engineers in Oklahoma.
AGRICULTURAL COMMODITY PROCESS FACILITY EXCLUSION
OKLAHOMA TAX COMMISSION
Owners of agricultural commodity processing facilities may exclude 15% of their investment in a new or expanded agricultural commodity processing facility located within Oklahoma.
AGRICULTURAL EXEMPTION (SALES TAX EXEMPTION)
OKLAHOMA TAX COMMISSION
Oklahoma law exempts on-farm sales from state sales tax.
AGRICULTURE EVENT GRANT
OKLAHOMA DEPARTMENT OF AGRICULTURE, FOOD AND FORESTRY
Grant program for projects that benefit the community and further the public interest in agriculture.
AIRCRAFT MAINTENANCE OR MANUFACTURING FACILITY SALES TAX EXEMPTION
OKLAHOMA TAX COMMISSION
Oklahoma offers a sales tax exemption for sales of computers, data processing equipment and related telecommunications equipment for use in an aircraft maintenance or manufacturing facility.
AIRCRAFT MANUFACTURER'S AD VALOREM EXEMPTION LICENSE
OKLAHOMA TAX COMMISSION
This exemption applies to manufacturers of aircrafts.
AIRCRAFT REPAIRS AND MODIFICATIONS SALES TAX EXEMPTION
OKLAHOMA TAX COMMISSION
This exemption is for the sales tax on items related to aircraft repairs and modifications.
AUTOMOTIVE ENGINEER WORKFORCE TAX CREDITS
OKLAHOMA DEPARTMENT OF COMMERCE
Vehicle manufacturing companies that manufacture or assemble motor vehicles hiring engineers that are newly employed in the vehicle manufacturing sector will receive a tax credit equal to 5% of the compensation paid to an engineer, and 10% if the engineer graduated from an Oklahoma college or university (up to $12,500 per employee per year), plus another credit of up to 50% of the tuition reimbursed to an employee. Additionally, the engineer hired receives a tax credit of $5,000 per year for 5 years.
BASIC AND APPLIED RESEARCH LOAN/GRANT
OKLAHOMA DEPARTMENT OF AGRICULTURE, FOOD, & FORESTRY
This loan is available to individuals or entities wanting to conduct research for the purpose of business creation or expansion focusing on agricultural products or by-products.
BIOFUELS CONSTRUCTION AND PERMITTING ASSISTANCE
OKLAHOMA DEPARTMENT OF ENVIRONMENTAL QUALITY
The Oklahoma Department of Environmental Quality (DEQ) provides technical and regulatory assistance to small businesses that need permits to construct and operate biodiesel and ethanol production facilities.
BROWNFIELDS REVOLVING LOAN FUND
OKLAHOMA DEPARTMENT OF ENVIRONMENTAL QUALITY
The Brownfields Revolving Loan Fund (RLF) provides qualified applicants with money to clean up contaminated properties in the form of low interest loans.
BUSINESS EXPANSION INCENTIVE PROGRAM
OKLAHOMA DEPARTMENT OF COMMERCE
The Business Expansion Incentive Program assists Oklahoma companies making major capital investments in depreciable items like machinery, equipment and buildings.
CAMPUS CONSTRUCTION PROJECTS (SALES TAX EXEMPTION)
OKLAHOMA TAX COMMISSION
Oklahoma-based campus construction projects are exempt from paying sales tax in the state of Oklahoma.
CHARITABLE HEALTH ORGANIZATION
OKLAHOMA TAX COMMISSION
Charitable health organizations located in Oklahoma are exempt from paying sales tax.
COMMUNITY MENTAL HEALTH CENTER (SALES TAX EXEMPTION)
OKLAHOMA TAX COMMISSION
Oklahoma-based community mental health centers are exempt from paying sales tax.
COMMUNITY-BASED HEALTH CENTER (SALES TAX EXEMPTION)
OKLAHOMA TAX COMMISSION
Community-based health centers in Oklahoma are exempt from paying sales tax.
COMPUTER SERVICES / DATA PROCESSING / TELECOMMUNICATIONS EQUIPMENT SALES TAX REFUND
OKLAHOMA TAX COMMISSION
Oklahoma offers a sales tax refund on the purchase of computers, data processing equipment, related peripherals, telegraph or telecommunications services, and equipment.
COMPUTER SERVICES AND DATA PROCESSING SALES TAX EXEMPTION
OKLAHOMA TAX COMMISSION
Oklahoma offers an exemption from sales tax on the purchase of machinery and equipment by persons and establishments primarily engaged in computer services and data processing.
CONSTRUCTION MATERIALS SALES TAX REFUND
OKLAHOMA TAX COMMISSION
Oklahoma refunds sales taxes paid on construction materials for certain new or expanding manufacturing facilities.
COOPERATIVE MARKETING LOAN
OKLAHOMA DEPARTMENT OF AGRICULTURE, FOOD, & FORESTRY
This loan is available to entities or individuals wishing to work together to develop or establish production, process or market agricultural products, or establish agritourism ventures.
CREDIT FOR PROPERTY DIRECTLY RELATED TO THE DELIVERY OF A QUALIFIED FUEL
OKLAHOMA TAX COMMISSION
For tax years beginning before December 31, 2027, a tax credit is available of 75% of the cost of the qualified clean-burning motor vehicle fuel property (per-location). Beginning with tax year 2020, the amount of the credit is reduced to 45%.
CREDIT FOR PURCHASE OR CONVERSION OF CLEAN-BURNING MOTOR VEHICLE
OKLAHOMA TAX COMMISSION
For tax years beginning before December 31, 2027, a one-time income tax credit in the amount of 45% of the cost of the qualified clean-burning motor vehicle fuel property is allowed. (Beginning with tax year 2020, the amount of the credit will be based on the weight of the vehicle).
ENTERPRISE ZONES
OKLAHOMA DEPARTMENT OF COMMERCE
The Oklahoma Department of Commerce reviews and reports annually economically distressed areas by census tract.
ETHANOL FUEL RETAILER TAX CREDIT
OKLAHOMA TAX COMMISSION
A tax credit is available for retailers of ethanol-blended fuel.
FARM DIVERSIFICATION GRANT
OKLAHOMA DEPARTMENT OF AGRICULTURE, FOOD, & FORESTRY
The Oklahoma Agriculture Enhancement and Diversification Program (AEDP) offers the opportunity to apply for a farm diversification grant. Â Grants are available to anyone who is currently involved in farming, ranching or agritourism and would like to diversify their family farming operation or agritourism venture.
FREEPORT EXEMPTION (EXEMPT INVENTORY)
OKLAHOMA TAX COMMISSION
Oklahoma's Freeport Law exempts from taxation goods, wares and merchandise that come from outside the State and leave the State within nine months.
HEALTH CENTER (SALES TAX EXEMPTION)
OKLAHOMA TAX COMMISSION
Sales tax does not apply to the sale of tangible personal property or taxable services when sold to any health centers in Oklahoma.
INDUSTRIAL ACCESS ROAD PROGRAM
OKLAHOMA DEPARTMENT OF TRANSPORTATION
The Industrial Access Road Program is designed to provide assistance to local industrial development efforts by funding, within practical limitations, access facilities connecting a specific industry or industrial area directly to the state or local road system.
INSURANCE PREMIUM TAX CREDIT
OKLAHOMA INSURANCE DEPARTMENT
This incentive is available to insurance companies that locate or expand regional home offices in Oklahoma and retain a certain amount of jobs are eligible for a special tax credit against the premium tax imposed in the Insurance Code.
INTERN PARTNERSHIP PROGRAM
OKLAHOMA CENTER FOR THE ADVANCEMENT OF SCIENCE AND TECHNOLOGY
The Intern Partnerships (Intern) program helps retain Oklahoma's best and brightest students by matching undergraduate students with an Oklahoma company to complete an innovative project together which benefits the student and company.
INVENTOR'S ASSISTANCE SERVICE
OKLAHOMA STATE NEW PRODUCT DEVELOPMENT CENTER
The Inventor's Assistance Service serves as the first point of contact for inventors across Oklahoma who are seeking assistance with preliminary market and patent research; engineering feasibility reviews; third party referrals to marketing assistance, SBDC services, and manufacturers; and product design and prototyping.
INVESTMENT/NEW JOBS TAX CREDIT PACKAGE
OKLAHOMA DEPARTMENT OF COMMERCE
This tax credit provides growing manufacturers with a substantial tax credit based on either an investment in depreciable property or on the addition of full-time-equivalent employees engaged in manufacturing, processing or aircraft maintenance.
LARGE-SCALE ECONOMIC ACTIVITY AND DEVELOPMENT (LEAD) ACT
OKLAHOMA DEPARTMENT OF COMMERCE
The LEAD Act, enacted as HB 4455, provides for a 10-year investment rebate program for the cost of qualified capital expenditures based on creation of new direct jobs.
MANUFACTURERS SALES TAX EXEMPTION
OKLAHOMA TAX COMMISSION
Oklahoma has a comprehensive sales tax exemption for manufacturers who obtain a Manufacturer's Sales Tax Exemption Permit from the Oklahoma Tax Commission. The permit must be renewed every three years.
OKLAHOMA APPLIED RESEARCH SUPPORT
OKLAHOMA CENTER FOR THE ADVANCEMENT OF SCIENCE AND TECHNOLOGY
OCAST's Oklahoma Applied Research Support (OARS) program is a funding program that invests in research and development supporting innovative technologies with commercial potential.
OKLAHOMA COAL MINING (SALES TAX EXEMPTION)
OKLAHOMA TAX COMMISSION
Oklahoma coal mining companies are exempt from paying sales tax.
OKLAHOMA HEALTH RESEARCH
OKLAHOMA CENTER FOR THE ADVANCEMENT OF SCIENCE AND TECHNOLOGY
The Oklahoma Health Research program funds basic research projects related to human health for one to three years at a maximum level of $45,000 per year.
OKLAHOMA HEALTHY FOOD FINANCING PROGRAM
OKLAHOMA DEPARTMENT OF AGRICULTURE, FOOD AND FORESTRY
The Oklahoma Healthy Food Financing Program provides financing for food retailers to provide heathy food in underserved communities that primarily serve low- or moderate-income communities.
OKLAHOMA INDUSTRIAL FINANCE AUTHORITY
OKLAHOMA FINANCE AUTHORITIES
The Oklahoma Industrial Finance Authority (OIFA) provides permanent financing for real estate and equipment.
OKLAHOMA INNOVATION EXPANSION PROGRAM (OIEP)
OKLAHOMA DEPARTMENT OF COMMERCE
OIEP supports high-impact new capital investment across a broad range of industries for companies eligible to receive up to $150,000.
OKLAHOMA PLANT SCIENCE RESEARCH
OKLAHOMA CENTER FOR THE ADVANCEMENT OF SCIENCE AND TECHNOLOGY
This program helps researchers gain expertise and gather research data to support proposals for additional research funding. The program supports basic research that is necessary to advance plant-related science and collaborative efforts are encouraged to help support later stage applied plant research projects.
OKLAHOMA RURAL JOBS ACT
OKLAHOMA DEPARTMENT OF COMMERCE
The Oklahoma Rural Jobs Act promotes greater access to capital for qualifying small businesses located in rural areas of the state. Rural Funds, their affiliates or investors may earn a tax credit on the amount equity that they invest in a Rural Fund, which must then deploy as capital expenditures to provide financing for small businesses in rural Oklahoma.
OKLAHOMA SEED CAPITAL FUND
I2E
The Oklahoma Seed Capital Fund is a state-funded investment fund that provides concept, seed and start-up equity investments to Oklahoma-based, innovative businesses.
OKLAHOMA TOURISM DEVELOPMENT ACT
OKLAHOMA DEPARTMENT OF COMMERCE
The Tourism Development Act allows developers to capture state sales taxes for new tourism projects that attract out-of-state visitors to new or expanded tourism sites such as entertainment districts, destination hotels, arenas, museums, theme parks, cultural centers and others.
OKLAHOMA VITICULTURE AND ENOLOGY CENTER DEVELOPMENT REVOLVING FUND
OKLAHOMA DEPARTMENT OF AGRICULTURE, FOOD, & FORESTRY
The Oklahoma Viticulture and Enology Center Development Revolving Fund provides loans to groups supporting the development of the viticulture and enology industries.
PERFORM ACT
OKLAHOMA DEPARTMENT OF COMMERCE
The Perform Act that creates an investment rebate program for the cost of qualified capital expenditures by an establishment that creates a certain number of jobs based on the number of investment rebate payments.
PRIORITY ENTERPRISE ZONES (PEZ)
OKLAHOMA DEPARTMENT OF COMMERCE
To coordinate with the federal government’s goal of alleviating poverty, Oklahoma will utilize Priority Enterprise Zones (PEZs) created in the Oklahoma Enterprise Zone Act to attract capital to Oklahoma’s Opportunity Zones. Investors who take advantage of Oklahoma’s Federal Opportunity Zones within PEZs can potentially layer other state and/or local incentives.
PRIVATE ACTIVITY BOND ALLOCATION
OKLAHOMA DEPARTMENT OF COMMERCE
Private activity bonds under the Internal Revenue Code are described generally as any bond: (1) of which more than 10% of the proceeds is to be used in a trade or business of any person or persons other than a governmental unit or which is to be directly or indirectly repaid, or secured by revenues from a private trade or business; and (2) in which an amount exceeding the lesser of 5% or $5 million of the proceeds is to be used for loans to any person or persons other than a governmental unit.
PRIVATE ACTIVITY BOND ALLOCATION PROGRAM
OKLAHOMA STATE BOND ADVISOR'S OFFICE
Private activity bonds under the Internal Revenue Code are described generally as any bond: (1) of which more than 10% of the proceeds is to be used in a trade or business of any person or persons other than a governmental unit or which is to be directly or indirectly repaid, or secured by revenues from a private trade or business; and (2) in which an amount exceeding the lesser of 5% or $5 million of the proceeds is to be used for loans to any person or persons other than a governmental unit.
PRIVATE SCHOOLS-ELEMENTARY/SECONDARY (SALES TAX EXEMPTION)
OKLAHOMA TAX COMMISSION
Sales to schools. Sales of tangible personal property or services to the following entities are exempt from taxation:1) Private institutions of higher education.2) Private elementary and secondary schools.3) Members of the Oklahoma system of higher education.4) Public school districts.
PUBLIC PRIVATE PARTNERSHIP (P3) PROGRAM (POOLED FINANCE)
OKLAHOMA DEPARTMENT OF COMMERCE, OKLAHOMA FINANCE AUTHORITIES
The P3 Program assists units of local government making infrastructure improvements by rebating taxes from the for-profit businesses who will benefit from the investment.
QUALITY EVENTS ACT
OKLAHOMA TAX COMMISSION
Reimbursement to communities for expenses related to hosting national- or international-level events that attract significant out-of-state visitors.
QUALITY JOBS - 21ST CENTURY
OKLAHOMA DEPARTMENT OF COMMERCE
This program is designed to attract growth industries and sectors to Oklahoma through a policy of rewards to new and existing businesses with a highly skilled, knowledge-based workforce.
QUALITY JOBS AND INVESTMENT TAX CREDITS
OKLAHOMA TAX COMMISSION
This incentive is available for manufacturers who have capital investments greater than $40 million in addition to creating skilled jobs.
QUALITY JOBS INCENTIVE - OKLAHOMA REMOTE
OKLAHOMA DEPARTMENT OF COMMERCE
The Oklahoma Remote Quality Jobs Incentive Act provides appropriate incentives to attract growth industries and sectors that employ remote workers to Oklahoma.
QUALITY JOBS INCENTIVE PROGRAM
OKLAHOMA DEPARTMENT OF COMMERCE
The Quality Jobs program provides a cash payment to companies that create well-paying jobs and promote economic development.
QUALITY JOBS INVESTMENT PROGRAM
OKLAHOMA DEPARTMENT OF COMMERCE
The business incentive gives qualifying enrolled companies quarterly cash rebates, of up to five percent of newly created taxable payroll, for 10 years.
QUICK ACTION CLOSING FUND
OKLAHOMA DEPARTMENT OF COMMERCE
The Oklahoma Quick Action Closing Fund is exclusively offered by the Governor of Oklahoma and was created for reducing the cost gaps for economic development and related infrastructure development when expenditure of funds is likely a determining factor in locating a high-impact business.
RADIO/TELEVISION BROADCASTING (SALES TAX EXEMPTION)
OKLAHOMA TAX COMMISSION
Oklahoma-based radio and television broadcasting companies are exempt from paying sales tax in the state of Oklahoma.
SALES AT AIRCRAFT MAINTENANCE FACILITIES SALES TAX EXEMPTION
OKLAHOMA TAX COMMISSION
Sales of aircraft and aircraft parts are tax exempt, provided such sales occur at a qualified aircraft maintenance facility.
SEEDSTEP ANGELS
I2E
SeedStep Angels (SSA) is dedicated to providing quality early-stage investment opportunities for accredited Oklahoma Angel investors and to assisting entrepreneurs and early-stage growth companies by serving as a key source of funding, information, networking, mentorship, and educational resources.
SIDE ACT
OKLAHOMA DEPARTMENT OF COMMERCE
The Strategic Industrial Development Enhancement (SIDE) Act facilitates construction of new or existing facilities at rural industrial parks and promotes the competitiveness of railroad infrastructure through the use of corporate income tax credits.
SITES PROGRAM
OKLAHOMA DEPARTMENT OF COMMERCE
Oklahoma SITES Program aims to identify communities looking for site assistance, increase partnerships between communities and the Oklahoma Department of Commerce, find solutions for challenges facing marketable sites and assist with marketing developed sites at a national level.
SPACEPORT SALES TAX EXEMPTION
OKLAHOMA TAX COMMISSION
Sales of any tangible property to a spaceport user as determined by the Oklahoma Space Industry Development Authority are exempt from sales tax.
SPECIALTY CROP BLOCK GRANT
OKLAHOMA DEPARTMENT OF AGRICULTURE, FOOD, & FORESTRY
The Specialty Crop Grant provides funds for projects up to 2 years in duration. Matching funds, either in cash and/or in-kind contribution of 25% of the total project budget will be required by applicants.
TAX INCREMENT FINANCING
OKLAHOMA DEPARTMENT OF COMMERCE
Cities and counties in Oklahoma may create tax increment districts to provide funding for economic development in distressed areas for up to 25 years.
TECHNOLOGY BUSINESS FINANCE PROGRAM (CONCEPT FUND)
I2E
The Technology Business Finance Program, or Concept Fund, provides pre-seed financing and early stage risk capital to advance scalable startup Oklahoma companies to prove new products and processes.
TECHNOLOGY TRANSFER INCOME TAX EXEMPTION
OKLAHOMA TAX COMMISSION
The taxable income of any corporation is decreased for transfers of technology to qualified small businesses located in Oklahoma.
TELECOMMUNICATIONS SALES TAX EXEMPTION
OKLAHOMA TAX COMMISSION
Sales tax exemptions apply to telecommunications items.
THE ENTERPRISE ZONE INCENTIVE LEVERAGE ACT
OKLAHOMA DEPARTMENT OF COMMERCE
The Enterprise Zone Leverage Act provides funding for local units of government to match local tax revenue dedicated to support a project located in an enterprise zone, or in support of a major tourism destination project deemed likely to significantly benefit a contiguous or nearby enterprise zone tract.
TRAINING FOR INDUSTRY PROGRAM (TIP)
INDIAN CAPITAL TECHNOLOGY CENTER
Oklahoma's Training for Industry Program provides customized start-up training for all sectors of industry.
VENTURE INVESTMENT PROGRAM
OKLAHOMA CAPITAL INVESTMENT BOARD
The Venture investment Program supports investments in private, professionally managed venture capital firms that have committed to serving entrepreneurs within the state and that have a history of producing solid returns for their investors.
WOMEN AND MINORITY BUSINESS CERTIFICATION
OKLAHOMA DEPARTMENT OF COMMERCE
The Oklahoma Department of Commerce certifies woman-owned businesses in Oklahoma.
ZERO-EMISSION FACILITIES INCOME TAX CREDIT
OKLAHOMA TAX COMMISSION
Oklahoma encourages alternative, zero-emission fuel production by providing tax credits to producers of electricity utilizing such sources and to small wind turbine manufacturers.
Oregon
BUSINESS DEVELOPMENT FUND
BUSINESS OREGON
The Oregon Business Development Fund (OBDF) is a revolving loan fund that provides fixed-rate term gap financing for land, buildings, equipment, machinery, and permanent working capital.
Eligibility Requirements
Applicants must create or retain jobs and must typically be a "traded sector business"? (as defined in ORS 284.550) in manufacturing, processing or distribution. The program gives preference to projects located in rural and distressed areas and to small businesses with fewer than 100 employees
Application Information
Program guidelines include:
• Maximum loan is forty percent of eligible project costs
• A private lender is generally required for a portion of
the project
• Refinance of existing debt is generally ineligible
• Individual OBDF loans may not exceed $2,000,000 per
project
• OBDF loans must be fully secured
• Personal guarantees are generally required
• Additional security may be required (e.g., life insurance
and off-project assets)
• In most cases, project equity of at least ten percent will
be required
• The OBDF will provide only permanent or “take out”
financing and does not fund construction
Loans can be made directly to private individuals or
legal business entities located in Oregon. The program
places particular emphasis on rural and distressed areas,
enterprise zones and on businesses with 100 or fewer
employees.
Activities that are expressly ineligible include:
• Construction of office buildings and corporate
headquarters
• Retail businesses, shopping centers, food service
facilities
Regular Oregon Business Development Fund terms:
• The interest rate is fixed at one percentage point more
than comparable U.S. Treasury rates. The minimum
rate is 4.0%
• The maximum term is 10 years with an amortization of
20 years
• A preference for at least one job created or retained per
$30,000 of OBDF investment
• Liens may be subordinated to other debt
Targeted Oregon Business Development Fund terms:
• Must be locating or expanding in a distressed area
(call the department or visit our website at
biz.oregon.gov. for a distressed area list)
• Interest rate is set at four percentage points below the
prime rate. The minimum rate is 4%
• Maximum loan term is five years with a maximum 15
year amortization
• Requires a senior or co-senior collateral lien position, or
an abundance of collateral
• A preference for at least one job created or retained per
$20,000 of OBDF investment
Additional information available from the Oregon Department of Veterans’ Affairs.
BUSINESS RETENTION SERVICES PROGRAM
BUSINESS OREGON
The Business Retention Services Program provides consulting services to assist Oregon companies facing difficult times.
Eligibility Requirements
Businesses must meet the following criteria to be eligible for program services:
- be an Oregon company,
- be a company facing a period of hardship, such as financial or organizational distress, or have a business expansion or growth opportunity,
- be willing to fully disclose its financial status to the consultant.
To be eligible, the business must complete an application form, participate in a brief qualification review process and, sign a service contract if approved for the program.
Priority is given to:
- Emerging and key industries with high potential for job creation/retention.
- Economically distressed areas throughout Oregon.
- Traded sector businesses involved in national/ international markets: Processing and distribution, manufacturing, advanced manufacturing, outdoor gear and activewear, agriculture and fishing, high-technology, wood and forest products.
Application Information
If eligible, the business must complete an application form, participate in a brief qualification review process and, sign a service contract if approved for the program.
Click on the link below to access an application
Additional information available from Business Oregon.
CAPITAL ACCESS PROGRAM
BUSINESS OREGON
The Oregon Capital Access (CAP) Program helps lenders (banks and credit unions) make more commercial loans to small businesses and provides capital for start-up or expansion.
Eligibility Requirements
All types of loans and lines of credit are eligible.
Application Information
A full list of requirement documents and materials for the application can be found on the program website.
AGRICULTURAL OVERTIME REPAYABLE AWARD PROGRAM
BUSINESS OREGON
In the 2023 legislative session, the Oregon Business Development Department, dba Business Oregon, was directed to develop and administer a repayable award program under House Bill 2058 to provide financial assistance to eligible employers to mitigate costs associated with agricultural overtime compensation requirements under House Bill 4002. The legislature appropriated $10 million towards the Agricultural Overtime Repayable Award Program.
BEGINNING & EXPANDING FARMER LOAN PROGRAM (AGGIE BOND)
BUSINESS OREGON
The Beginning and Expanding Farmer Loan Program, better known as the Aggie Bond Program, provides affordable financing to new farmers for financing capital purchases. The program allows the lender to avoid paying income taxes on interest the lender receives from the borrower. The lender can pass this savings on to the borrower in the form of a lower interest rate. The State of Oregon does not provide a repayment guarantee of the Aggie Bond. The lender assumes all credit risks, and the borrower is solely responsible for repaying the Aggie Bond.
BROWNFIELD CLEANUP FUND
BUSINESS OREGON
A low-interest loan and grant financing option for cleanup projects on properties impacted by the existence of hazardous substances and for which cleanup is necessary in order for development or redevelopment can occur.
BROWNFIELD REDEVELOPMENT FUND
BUSINESS OREGON
The Brownfields Redevelopment Fund is a direct loan and grant program to encourage environmental clean-up and reuse of brownfield properties.
BUSINESS EXPANSION PROGRAM
BUSINESS OREGON
The Oregon Business Expansion Program (BEP) is a cash-based incentive program based on the estimated increase in income tax revenue as a result of new hires from the expansion or relocation of a project. Funding is available to existing companies expanding operations in Oregon or new companies coming into the state.
CHIPS MANUFACTURING AND RESEARCH GRANT
BUSINESS OREGON
The State of Oregon CHIPS Manufacturing & Research provides grants of up to $50,000 to organizations that plan to apply for federal CHIPS funding.
COMMERCIALIZATION GAP FUND
BUSINESS OREGON
The Commercialization Gap Fund (CGF) supports science and research-based innovations in Oregon by bridging early-stage capital gaps, leading to private capital investments.
COMMUNITY DEVELOPMENT BLOCK GRANTS
BUSINESS OREGON
Grants and technical assistance are available through the Community Development Block Grants (CDBG) Program to develop livable urban communities for persons of low and moderate incomes by expanding economic opportunities and providing housing and suitable living environments.
CONSTRUCTION IN PROCESS TAX EXEMPTION
OREGON DEPARTMENT OF REVENUE
Under provisions of Oregon law, new commercial facilities are exempt from property taxes while under construction and not in use as of January 1 of the taxing year.
CREDIT ENHANCEMENT FUND
BUSINESS OREGON
The Oregon Credit Enhancement Fund (CEF) is a loan insurance program available to lenders to assist businesses in obtaining access to capital. The fund ensures the repayment of loans made by lenders that provide working capital or fixed-asset financing to businesses. In agreeing to ensure a business loan, Business Oregon assumes responsibility for up to 80 percent of a loan made by a lender should the business default or otherwise be unable to make scheduled payments.
ELECTRONIC COMMERCE ZONE PROPERTY TAX ABATEMENT
BUSINESS OREGON
Several of Oregon's more than 70 enterprise zones have been designated Electronic Commerce (E-Commerce) Zones to further encourage e-commerce investments. E commerce involves the buying and selling of goods and services using the internet.
EMERGING SMALL BUSINESS CERTIFICATION
CERTIFICATION OFFICE FOR BUSINESS INCLUSION AND DIVERSITY
Emerging Small Business (ESB) certification is for Oregon small businesses seeking opportunities for state, county, and city government, and special jurisdiction (e.g. hospitals and universities) contracts. ESB is a race and gender neutral program based on the size of the business rather than the individual.
EMPLOYER SCHOLARSHIP TAX CREDIT
OREGON DEPARTMENT OF REVENUE
A tax credit for employers that offer employee scholarships.
ENERGY TRUST OF OREGON
OREGON DEPARTMENT OF ENERGY
Utility public-purpose fee-supported assistance, including cash incentives, to Oregon businesses with new construction, major renovations, or equipment upgrades.
ENTREPRENEURIAL DEVELOPMENT LOAN FUND
BUSINESS OREGON
The Entrepreneurial Development Loan Fund (EDLF) provides direct loans to help start-ups, micro-enterprises and small businesses expand or become established in Oregon. This fund fills a niche not provided through traditional lending markets.
FOOD PROCESSORS EXEMPTION
OREGON DEPARTMENT OF AGRICULTURE
The program allows food processors to request a property tax exemption for qualified property machinery and equipment, and personal property.
GOVERNMENT CONTRACTING ASSISTANCE PROGRAM
ORGANIZATION FOR ECONOMIC INITIATIVES
For more than 30 years, the Government Contract Assistance Program (GCAP) has assisted the states businesses by connecting business to government contracting opportunities. This fosters a pipeline of competitive contractors ready to serve all levels of government (federal, state, and local).
GOVERNOR'S STRATEGIC RESERVE FUND
BUSINESS OREGON
The Governor's Strategic Reserve Fund (SRF) is a discretionary tool used for a variety of projects impacting economic development.
GREENLIGHT OREGON LABOR REBATE
OREGON GOVERNOR'S OFFICE OF FILM AND TELEVISION
The Greenlight Oregon Labor Rebate offers productions that spend more than $1million in Oregon a cash rebate of up to 6.2% of Oregon-based payroll.
GROW OREGON
BUSINESS OREGON
The program uses teams of highly experienced business advisors who can help assess your current business and provide tools to create sustained growth.
HIGH IMPACT OPPORTUNITY PROJECTS (HIOP)
BUSINESS OREGON
High Impact Opportunity Projects (HIOP) support the growth of target industry sectors in Oregon by removing barriers to research and development, product development and testing, technology commercialization, and other aspects of industry innovation. HIOPs are awarded to projects that provide benefit and further innovation across an industry and is not a grant to an individual company.
IMMEDIATE OPPORTUNITY FUND
OREGON DEPARTMENT OF TRANSPORTATION
This program completes transportation improvements necessary for Oregon's projects.
INDUSTRIAL DEVELOPMENT BONDS
BUSINESS OREGON
Oregon Industrial Development Bonds are tax-exempt bonds issued by the state of Oregon, designed to help Oregon manufacturers grow. They provide long-term financing for land, buildings and equipment.
LOCAL OREGON PRODUCTION INVESTMENT FUND
OREGON GOVERNOR'S OFFICE OF FILM AND TELEVISION
The Local Oregon Production Investment Fund" (L-OPIF)
LONG-TERM RURAL ENTERPRISE ZONE FACILITIES
BUSINESS OREGON
Available in most rural enterprise zones, the long-term zone program offers a property tax abatement of 7-15 years, compared to the standard 3 to 5 years.
MINORITY/WOMEN BUSINESS ENTERPRISE CERTIFICATION
CERTIFICATION OFFICE FOR BUSINESS INCLUSION AND DIVERSITY
Minority Business Enterprise (MBE) and Women Business Enterprise (WBE) certifications are for minority-owned and women-owned businesses seeking opportunities for state, county, and city government, and special jurisdiction (e.g. hospitals and universities) contracts.
NEW MARKET TAX CREDITS
BUSINESS OREGON
The New Markets Tax Credit provides assistance to businesses expanding or locating in low-income communities.
OPPORTUNITY GRANT FUND (AUCTION) TAX CREDIT
OREGON DEPARTMENT OF REVENUE
This credit is by auction conducted by the Department of Revenue, in cooperation with the Higher Education Coordinating Commission (HECC). The amount of the credit claimed may not exceed the taxpayer Oregon tax liability for a tax year.
OREGON CULTURAL TRUST CONTRIBUTION TAX CREDIT
OREGON DEPARTMENT OF REVENUE
The credit is 100 percent of contributions to the account that are matched by an equal contribution to an Oregon cultural organization, limited to the lesser of the tax liability or $2,500 for a tax year.
OREGON GROWTH BOARD
BUSINESS OREGON
The Oregon Growth Board (OGB) invests out of two pools of capital: the Oregon Growth Account (OGA) and the Oregon Growth Fund (OGF).
OREGON INVESTMENT ADVANTAGE
BUSINESS OREGON
The Oregon Investment Advantage is a 10-year taxable income exemption for a certified business in eligible locations. It can often be combined with property tax abatement programs. Companies setting up operations in an eligible county can be certified as many as 10 consecutive times to annually deduct or subtract taxable income related to those operations, potentially eliminating any state business income tax liability for that period.
OREGON PRODUCTION AND INVESTMENT FUND
OREGON GOVERNOR'S OFFICE OF FILM AND TELEVISION
The Oregon Production Investment Fund offers qualifying film or television productions a 25% cash rebate on production-related goods and services paid to Oregon vendors and a 20% cash rebate of payrolled wages paid for work done in Oregon including both Oregon and non-Oregon residents. The labor portion of this rebate can be combined with the Greenlight Oregon program for an effective labor rebate of 26.2%.
OREGON ROYALTY FUND
BUSINESS OREGON
The Oregon Royalty Loan Program (ORL) is an alternate financing solution for projects that are not yet bankable, but are more like angel or venture capital deals. This program accommodates growing companies that do not yet qualify for traditional financing.
PORT PLANNING AND MARKETING FUND
BUSINESS OREGON
Oregon state law recognizes the important role of ports in economic development. Business Oregon supports ports' economic development efforts by way of technical assistance, intergovernmental coordination and responsible investment. The Port Planning & Marketing Fund provides grants for strategic business planning as well as other planning and marketing projects that improve the port's ability to carry out its authorized functions.
PORT REVOLVING LOAN FUND
BUSINESS OREGON
The Port Revolving Fund provides loan funding to assist ports in the planning and construction of facilities and infrastructure.
REGIONAL OREGON PRODUCTION INVESTMENT FUND
OREGON GOVERNOR'S OFFICE OF FILM AND TELEVISION
Oregon Production Investment Fund (R-OPIF). This program further incentivizes both Portland-based productions to spend at least some of their shooting schedule outside of the Portland Metro Zone (which is defined as 30 miles from Burnside Bridge) as well as incentivizing productions to base themselves entirely outside of the Portland Metro Zone for the majority of their shoot. It is intended to be utilized by projects that are already applying for, and being accepted to, either the OPIF or L-OPIF programs. It cannot be utilized on its own
RURAL & AGRICULTURAL ENERGY AUDIT PROGRAM
OREGON DEPARTMENT OF ENERGY
ODOE has $100,000 available from an Energy Audit and Renewable Energy Development Assistance Grant from the U.S. Department of Agriculture (known as a REDA grant).
RURAL RENEWABLE ENERGY DEVELOPMENT ZONES
BUSINESS OREGON
Rural Renewable Energy Development (RRED) Zones offer an incentive to encourage investments that either: harness wind, geothermal, solar, biomass or other unconventional forms of energy in Oregon to generate electricity, or produce, distribute or store any of a wide variety of biofuels.
SERVICE-DISABLED VETERAN CERTIFICATION
CERTIFICATION OFFICE FOR BUSINESS INCLUSION AND DIVERSITY
Service Disabled Veteran (SDV) certification is for service-disabled veteran-owned businesses seeking opportunities for state, county, and city government, and special jurisdiction (e.g. hospitals and universities) contracts.
SPECIAL PUBLIC WORKS FUND PROGRAM
BUSINESS OREGON
The Special Public Works Fund provides low-cost financing to eligible municipalities for planning, design, and construction of utilities and facilities essential to industrial growth, commercial enterprise, and job creation.
STANDARD ENTERPRISE ZONE EXEMPTION
BUSINESS OREGON
Cities, ports, counties and Indian Tribes across Oregon have joined together, forming enterprise zones to foster employment opportunities, development and local competitiveness. Located in economically lagging areas, these zones offer tax relief for new private capital.
STRATEGIC INVESTMENT PROGRAM
BUSINESS OREGON
The Strategic Investment Program (SIP) offers a 15-year property tax exemption on a portion of large capital investments.A portion of the SIP project is still taxed, consisting first of real estate, improvements and so forth, up to a certain amount of market value. All other project property is exempt from tax. The value of the taxable portion grows by 3 percent with each year of the SIP period.
TECHNICAL ASSISTANCE FOR UNDERREPRESENTED BUSINESSES PROGRAM
BUSINESS OREGON
The TA Program is a competitive grant program that supports organizations that provide culturally competent, linguistically appropriate, geographically aligned technical assistance resources to underrepresented or under-resourced small businesses. Each provider, within the framework of the program, determines its own scope of work based on its capacity, experience, expertise, and assessment of client needs. This flexibility allows the program to embrace and fund a wide range of TA Program providers who, in turn, meet and reflect the equally diverse needs of Oregon’s small business population, ranging from construction contractors to childcare providers and Main Street retailers to food-based micro-enterprises.
TRIBAL ENTERPRISE ZONE
BUSINESS OREGON
Each of the nine federally recognized Indian Tribes in Oregon can have a single reservation enterprise zone" designated to encompass up to 12 square miles of its tribal lands throughout the state.
Pennsylvania
BUSINESS OPPORTUNITIES FUND (BOF)
Pennsylvania Department of Community and Economic Development
The Business Opportunities Fund provides installment loans, lines of credit and technical assistance for minority business enterprises, women-owned business enterprises and small businesses.
Eligibility Requirements
Any small business enterprises may apply, but the program will give priority to small businesses requiring capital and technical assistance in order to compete for governmental and private sector contracts. This program is open to businesses located in the following counties: Adams, Berks, Chester, Cumberland, Dauphin, Franklin, Lancaster, Lebanon, Lehigh, Montgomery, Northampton, Perry, York, Allegheny, Armstrong, Beaver, Butler, Clarion, Crawford, Erie, Fayette, Greene, Indiana, Lawrence, Mercer, Washington and Westmoreland.
Application Information
The application is specific to this program and should be submitted directly to the specific
CDFI. How to Apply:
Jim Buerger
Chief Lending Officer, Community First Fund
51 South Duke Street, Suite 400
P.O. Box 524
Lancaster, PA 17608-0524
717-393-2351
T.J. Bogdewic
President and CEO, Bridgeway Capital, Inc.
707 Grant Street
Suite 1920
Pittsburgh, PA 15219
412-201-2450
EDUCATIONAL IMPROVEMENT TAX CREDIT (EITC)
PENNSYLVANIA DEPARTMENT OF COMMUNITY AND ECONOMIC DEVELOPMENT
Tax credits may be awarded to operating business firms that make contributions to Scholarship Organizations and/or Educational Improvement Organizations and/or Pre-Kindergarten Scholarship Organizations contained on a list published by the Department.
Eligibility Requirements
Businesses authorized to do business in Pennsylvania who are subject to one or more of the following taxes:
- Personal Income Tax
- Capital Stock/Foreign Franchise Tax
- Corporate Net Income Tax
- Bank Shares Tax
- Title Insurance & Trust Company Shares Tax
- Insurance Premium Tax (excluding unauthorized, domestic/foreign marine)
- Mutual Thrift Tax
- Malt Beverage Tax
- Surplus Lines Tax
Application Information
Businesses:
Pennsylvania businesses can begin applying for EITC credits through the DCED electronic single application system. DCED will no longer require applicants to mail the signed signature page.
The business application guide explains the process of applying. Tax credit applications will be processed on a first-come, first-served basis by day submitted. All applications received on a specific day will be processed on a random basis before moving on to the next day applications. Applications will be approved until the amount of available tax credits is exhausted.
Organizations:
Applicants interested in applying as an Educational Improvement Organization, Scholarship Organization or Pre-K Organization can apply at DCED Center for Business Financing, Tax Credit Division, 4th Floor, Commonwealth Keystone Building, 400 North Street, Harrisburg, PA 17120: 717.787.7120 or [email protected]. Do not use the Single Application. The application process is listed on the program website.
FLOOD MITIGATION PROGRAM
PENNSYLVANIA DEPARTMENT OF COMMUNITY AND ECONOMIC DEVELOPMENT
The Flood Mitigation Program provides funding for statewide initiatives to assist with flood mitigation projects.
Eligibility Requirements:
- Municipalities
- Councils of Governments
- Authorized Organization
- Institution of Higher Education
- Watershed Organization
- For-Profit Businesses
Application Information
- To apply for funding, the applicant must submit the electronic on-line PA Department of Community andEconomic Development Single Application for Assistance located at dced.pa.gov/singleapp. Requiredsupplemental information outlined in Appendix I of these guidelines must be attached electronically tothe application as directed on the Addenda tab. For technical inquiries regarding the submission of theon-line application, contact the Customer Service Center at (800) 379-7448 or (717) 787-3405.
- Applications will be accepted between February 1st and May 31st of each year. All applications andrequired supplemental information must be received by May 31st.
HIGH PERFORMANCE BUILDING PROGRAM (HPB)
PENNSYLVANIA DEPARTMENT OF COMMUNITY AND ECONOMIC DEVELOPMENT
The High Performance Building Program (HPB) provides financial assistance in the forms of grants and loan funds to underwrite the cost premiums associated with the design and construction or major renovation of high performance buildings in the state. The program is administered jointly by the Department of Community and Economic Development (DCED) and the Department of Environmental Protection (DEP) under the direction of CFA.
Eligibility Requirements
The following applicants are eligible for grants/loans:
- A Small Business: a for-profit corporation, limited liability company, partnership, proprietorship or other legal business entity located within the Commonwealth of Pennsylvania and having 100 or fewer full-time employees worldwide at the time of submission of the application.
- An Individual: any person engaged in the construction or renovation of a dwelling that he or she currently occupies or will occupy as a primary residence.
Eligible Projects:
High performance building projects that meet or exceed the standards identified in these guidelines will be eligible for consideration under this program. Projects are limited to the construction or renovation of a building for the use of a small business and for construction of a building by an individual for use as a primary residence. Construction or renovation of a residential building for rental or lease purposes is not an eligible project under the High Performance Building Program. The high performance standards adopted herein are intended to optimize the energy performance of buildings; increase the use of and demand for environmentally preferable building materials, furnishes and finishes; reduce pollutant and waste generation; select appropriate sites; improve environmental quality; promote good building operations practices and conserve natural resources in the commonwealth.
Application Information
There is a $100 non-refundable application fee due at the time of submission made payable to the CFA.
To apply for funding, the applicant must submit the electronic on-line Department of Community and Economic Development Single Application for Assistance located at www.esa.dced.state.pa.us. Once submitted, please print nine (9) copies of the application, and send with the required supplemental information via US Mail along with the signature page. Please reference the Web ID number on any documents sent with the signature page. Applications must be received at least 60 days prior to the next scheduled Authority meeting at which High Performance Building Program applications will be considered. An application review schedule for the Authority meetings can be found at dced.pa.gov.
KEYSTONE INNOVATION ZONES (KIZ) TAX CREDIT PROGRAM
PENNSYLVANIA DEPARTMENT OF COMMUNITY AND ECONOMIC DEVELOPMENT
An incentive program that provides tax credits to for-profit companies less than eight years old operating within specific targeted industries within the boundaries of a Keystone Innovation Zone (KIZ). With a total pool of up to $15 million in tax credits available to KIZ companies annually, the KIZ tax credit program significantly contributes to the ability of young KIZ companies to transition through the stages of growth.
Eligibility Requirements
To be eligible to participate in the KIZ Tax Credit Program, the applicant must meet the following criteria:
- Must be an entity subject to Personal Income Tax (Article III) or Corporate Net Income Tax (Article IV)
- Must be a for-profit business entity located within the geographic boundaries of a particular KIZ
- Must be in operation less than 8 years
- Must be operating within one of the KIZ target industry sectors
- Must be in state tax compliance with the laws and regulations of the commonwealth as determined by the Department of Revenue
- Meet any other requirements specified by the Department of Community & Economic Development
Application Information
Prospective applicants must submit their application through the DCED ESA. All required documents must be attached to the ESA when the application is submitted.
Only a full-time employee of the company, the certified public accountant of the company, or the company KIZ Coordinator may file an application on BEHALF of the KIZ company.
Eligible KIZ companies must contact and be working with their local KIZ Coordinator. KIZCoordinators are required to provide each eligible company with a Coordinator Certificate, which must beincluded on the tax credit application. If a company is not working with its KIZ Coordinator and cannotobtain a KIZ Coordinator Certificate for its application, then it is ineligible to receive tax credits.For a list of all the KIZ Coordinators please visit: dced.pa.gov/business-assistance/kiz-coordinator-locations
The Single Application must be submitted online at Single Application. For assistance in completing the Single Application, call 1.800.379.7448.
KEYSTONE OPPORTUNITY ZONES (KOZ)
PENNSYLVANIA COMMONWEALTH FINANCING AUTHORITY
Keystone Opportunity Zones (KOZ) provide state and local tax abatement to businesses and residents locating in one of the 12 designated zones in Pennsylvania.
Eligibility Requirements
Qualified Business: A business authorized to do business in this commonwealth which is located or partially located within a Subzone and is engaged in the active conduct of a trade or business in accordance with the requirements of section 307 of the Act for the taxable year. An agent, broker or representative of a business is not engaged in the active conduct of trade or business for the business. In order to qualify each year for a tax exemption, deduction, abatement or credit under the Act, a business shall own or lease real property in a zone from which the business actively conducts a trade, profession or business. The qualified business shall receive certification from the Department that the business is located and is in the active conduct of a trade, profession or business, within the zone. The business shall obtain annual renewal of the certification from the Department to continue to qualify as a qualified business.
Application Information
- KOZ Applications by applicants that are property owners, businesses and residents and guidelines to assist with the completion of the KOZ Application may be accessed in the following manner:
- Applications must be completed online. The guidelines to assist with the completion of the application may also be viewed online. The application and guidelines can be accessed by going to dced.pa.gov/koz. A completed application will be electronically submitted to the Department and the local coordinator.
- All questions marked with an asterisk must be completed on every application.
- If you wish to obtain a copy of the guidelines please contact the Department's Customer Service Center at 1-800-379-7448 or download a copy at dced.pa.gov/koz
- Applicants must file an annual application by December 31st of the year for which they are applying for benefits to maintain eligibility for KOZ benefits.
KEYSTONE SPECIAL DEVELOPMENT ZONE (KSDZ)
PENNSYLVANIA DEPARTMENT OF COMMUNITY AND ECONOMIC DEVELOPMENT
The Keystone Special Development Zone (KSDZ) program was established for the purpose of providing incentives to for-profit businesses that locate and operate in designated geographic zones. Pennsylvania continues to have a surplus of abandoned, deteriorated commercial and industrial sites in need of revitalization.
Eligibility Requirements
Eligible Sites:
Parcels of real estate must meet all of the following criteria to be designated a Keystone Special Development Zone:
- Be located within a Special Industrial Area as of July 1, 2011, for which the Department of Environmental Protection (DEP) has executed a Special Industrial Area Consent Order and Agreement.
- On July 1, 2011 had no permanent vertical structures affixed to it or had a permanent vertical structure affixed to it which has been deteriorated or abandoned for at least 20 years.
- Has been certified by DEP as meeting the requirements of (1) and (2) above.
Eligible Keystone Special Development Zone Employers
In order to be eligible to receive KSDZ tax credits, a KSDZ employer, which includes pass-through entities such as Partnerships, LLCs and S Corporations, must meet the following requirements:
- Be located within a Keystone Special Development Zone.
- Employ one or more employees at a designated KSDZ site. To be eligible, the employee must:
- Be employed by a KSDZ employer, or its predecessor, after June 30, 2011.
- Be employed for at least 35 hours per week by a KSDZ employer.
- Spend at least 90% of the time working at the KSDZ location.
A KSDZ employer who has caused or contributed to a level of regulated substance above the Act 2 cleanup standards or who has engaged in construction improvements on a Keystone Special Development Zone is not eligible to receive KSDZ tax credits.
Application Information
To obtain this certification, applicants must submit a letter requesting KSDZ designation that includes the information set forth in the guidelines. Upon approval of a successful application, DCED will issue the owner a letter designating the parcel(s) within the Keystone Special Development Zone.
Requests for Keystone Special Development Zone designation should be submitted to:
PA Department of Community & Economic Development
Site Development Division
ATTN: Tara L. Santore
Commonwealth Keystone Building
400 North Street, 4th Floor
Harrisburg, PA 17120-0225
NEIGHBORHOOD ASSISTANCE, ENTERPRISE ZONE TAX CREDIT (NAP/EZP)
PENNSYLVANIA DEPARTMENT OF COMMUNITY AND ECONOMIC DEVELOPMENT
An incentive program that provides tax credits to businesses or private companies investing in rehabilitating, expanding, or improving buildings or land located within designated enterprise zones.
Eligibility Requirements
Private for-profit companies located in a development zone including agricultural, industrial, manufacturing, or research and development enterprises within Pennsylvania are eligible to apply.
Application Information
Every Applicant is required to complete an Electronic Single Application (ESA), also known as the DCED Single Application, when applying for EZP. To assist in the success of the application, complete all required elements of the program. Complete an accurate narrative that provides the Place and Problem, Project, and Proposed Outcomes. Every Applicant should make sure the contact information they enter in ESA is correct at the time of the application. Applicants are required to notify DCED of any changes to contact information that occur during the activity period within 30 days of the change
OPPORTUNITY SCHOLARSHIP TAX CREDIT PROGRAM (OSTC)
PENNSYLVANIA DEPARTMENT OF COMMUNITY AND ECONOMIC DEVELOPMENT
The program provides tax credits to eligible businesses contributing to an Opportunity Scholarship Organization. Business contributions are then used by Opportunity Scholarship Organizations to provide tuition assistance in the form of scholarships to eligible students residing within the boundaries of a low-achieving school to attend another public school outside of their district or nonpublic school. A low-achieving school is defined as a public elementary or secondary school ranking in the bottom 15 percent of their designation as an elementary or secondary school based upon combined math and reading Pennsylvania System of School Assessment (PSSA) scores.
Eligibility Requirements
Entities eligible to apply for OSTC are operating businesses firms authorized to do business in theCommonwealth of Pennsylvania that are subject to the following taxes: Personal Income Tax, CapitalStock/Foreign Franchise Tax, Corporate Net Income Tax, Bank Shares Tax, Title Insurance & Trust CompanyShares Tax, Insurance Premiums Tax excluding unauthorized, domestic/foreign marine), Mutual Thrift Tax,Malt Beverage Tax or Surplus Lines Tax. Such business firms include pass-through entities and specialpurpose pass-through entities. Special purpose pass-through entities are created for the purpose of makingcontributions under Article XX-B of the Public School Code of 1949 and whose shareholders, partners ormembers are composed of owners or employees of other business firms. To receive tax credits, business firmsmust be approved to make contributions to Opportunity Scholarship Organizations which have beenapproved and appear on a list published by the Department.
For purposes of the OSTC, a "contribution" from a business firm is defined as a donation of cash, personalproperty or services the value of which is the net cost of the donation to the donor or the pro rata hourlywage, including benefits, of the individual performing the services. No tax credits shall be approved foractivities that are part of the business’ normal course of business.
The current list of Opportunity Scholarship Organizations can be found on the Department's website atwww.dced.pa.gov/OSTC.
Application Information
All applications for the Opportunity Scholarship Tax Credit Program must be completed and submitted online using DCED’s Single Application for Assistance which can be accessed at dced.pa.gov or www.esa.dced.state.pa.us. Paper applications will not be accepted. To ensure timely consideration of applications, applicants should carefully follow instructions outlined in the online Single Application, and provide all requested information at the time of application.
The Department of Revenue will evaluate all applications for State Tax Compliance.
- Entities seeking the credit must obtain state tax compliance with the laws and regulations of the Commonwealth of Pennsylvania, to the satisfaction of the Department of Revenue.
- Notification of Non-Compliance: Applications identified by the Department of Revenue as non-compliant will be ineligible for the credit, unless the applicant resolves the non-compliant issues in the determination period set by the Department of Revenue and communicated to the applicant.
PENNSYLVANIA ECONOMIC DEVELOPMENT FINANCING AUTHORITY (PEDFA) TAX-EXEMPT BOND PROGRAM)
PENNSYLVANIA ECONOMIC DEVELOPMENT FINANCING AUTHORITY
PEDFA provides tax-exempt and taxable bonds, both in pooled transactions and stand-alone transactions, to be used to finance land, building, equipment, working capital and refinancing.
Eligibility Requirements
Eligible Projects
Tax-Exempt Projects:
- Manufacturing Facilities (Small Issue): Defined under federal tax law as any facility which is used in the manufacturing or production of tangible personal property (including processing resulting in a change in condition of such property). At least 95% of the net tax-exempt proceeds must be used for the manufacturing facility, of which 25% may be used for facilities directly related and ancillary to the manufacturing facility such as office, research & development, and warehousing, provided that they are located on the same site as the manufacturing facility.
- Exempt Facilities: Certain facilities designated by federal tax law as eligible for tax-exempt financing. These facilities may include:
- Solid waste disposal facilities
- Sewage facilities
- Facilities for the local furnishing of electric or gas
- Facilities for the furnishing of water
- Qualified hazardous waste disposal facilities
- Local district heating or cooling facilities
- Airports, docks, wharves, and mass commuting facilities
- High-speed intercity rail facilities
- Environmental enhancements of hydro-electric generating facilities
- Qualified residential rental projects
- Qualified public educational facilities
- Qualified green building and sustainable design projects
- Qualified highway or subrace freight transfer facilities
Eligible Uses of Funds
- Land: Includes acquisition, site preparation and testing costs.
- Building: Includes acquisition, construction, rehabilitation, engineering, and architectural costs. For building acquisition, rehabilitation in an amount equal to at least 15% of the portion of the building acquisition cost being financing with tax-exempt bonds must be done within two years of the bond closing.
- New equipment: Includes acquisition, delivery, installation, renovation. Used equipment may qualify only if contained within a facility being acquired through tax-exempt financing.
- Refunding: Outstanding tax-exempt debt as allowed by federal tax law.
- Closing costs: No more than 2% of the tax-exempt financing amount. Closing costs in excess of 2% may be paid by the borrower at closing (i.e., equity contribution), or may be funded through taxable debt.
Application Information
A nonrefundable fee of $500 is required at the time of the filing of the application. All applications must be submitted online by a local IDA or IDC, which is the applicant, through the Electronic Single Application located at dced.pa.gov. In addition, the online version of the PEDFA Application must be submitted online through the Electronic Single Application. Applications will not be accepted directly from the borrower or its counsel.
Additional information available from the Pennsylvania Economic Development Financing Authority.
PENNSYLVANIA ECONOMIC DEVELOPMENT FINANCING AUTHORITY (PEDFA) TAXABLE BOND PROGRAM
PENNSYLVANIA ECONOMIC DEVELOPMENT FINANCING AUTHORITY
Taxable bonds, both in pooled transactions and stand-alone transactions, may be used to finance land, building, equipment, working capital and refinancings.
Eligibility Requirements
Tax-Exempt Projects:
- Manufacturing Facilities (Small Issue): Defined underfederal tax law as any facility which is used in “the manufacturing orproduction of tangible personal property (including processing resulting in achange in condition of such property).” At least 95% of the net tax-exemptproceeds must be used for the manufacturing facility, of which 25% may be usedfor facilities directly related and ancillary to the manufacturing facilitysuch as office, research & development, and warehousing, provided that theyare located on the same site as the manufacturing facility.
- Exempt Facilities: Certain facilities designated byfederal tax law as eligible for tax-exempt financing. These facilities mayinclude:
- Solid waste disposal facilities
- Sewage facilities
- Facilities for the local furnishing of electricenergy or gas
- Facilities for the furnishing of water
- Qualified hazardous waste facilities
- Local district heating or cooling facilities
- Airports, docks, wharves, and mass commutingfacilities
- High-speed intercity rail facilities
- Environmental enhancements of hydroelectricgenerating facilities
- Qualified residential rental projects
- Qualified public educational facilities
- Qualified green building and sustainable designprojects
- Qualified highway or surface freight transferfacilities
- Qualified broadband projects
- Qualified carbon dioxide capture facilities
Application Information
All applications must be submitted online by an Industrial Development Authority (IDA) or IndustrialDevelopment Corporation (IDC), which is the “Applicant”, through the Electronic Single Application. Inaddition, the PEDFA Application will also be submitted through the Electronic Single Application. Applicationswill not be accepted directly from the borrower or its counsel.
Each complete application will be reviewed and evaluated by the program office. The application will not beconsidered complete without the required attachments. If the application is approved for tax-exempt financing,the borrower will receive a PEDFA inducement letter which allows it to proceed with incurring project costs.
All financings by PEDFA must be approved by the PEDFA Board of Directors. The PEDFA Board meets on amonthly basis.
Pursuant to the Commonwealth Attorney’s Act, financing documents must be approved as to form and legality byboth the Office of Attorney General and the Office of General Counsel. In addition, all PEDFA tax-exemptprojects must also receive highest elected official approval of the TEFRA proceedings as required by federal taxlaw. The highest elected official for PEDFA is the Governor. This approval must be in place before closing.
Certain tax-exempt projects designated by federal tax law also require volume cap allocation (please see SectionII, Financing Method).
Additional information available from the Pennsylvania Economic Development Financing Authority.
PENNSYLVANIA MINORITY BUSINESS DEVELOPMENT AUTHORITY BUSINESS LOANS (PMBDA)
PENNSYLVANIA DEPARTMENT OF COMMUNITY AND ECONOMIC DEVELOPMENT
The Pennsylvania Minority Business Development Authority (PMBDA) provides low-interest loans to finance a portion of the costs of land, building, machinery and equipment, and working capital to minority business enterprises unable to fully finance these projects with equity, bank financing, or other private and public sources.
Eligibility Requirements
An eligible applicant is a for-profit business enterprise that is owned or controlled by one or more socially or economically disadvantaged persons who are residents of this commonwealth. The disadvantage, regardless of sex or marital status, may arise from cultural, racial, chronic economic circumstances or background or other similar cause. Such persons include, but are not limited to: African Americans, Hispanic Americans, Asian Americans, Native Americans, Eskimos, and Aleuts.
The applicant may be a sole proprietorship, partnership or corporation. If the enterprise is a sole proprietorship, the applicant must be at least 18 years old and maintain complete control of the enterprise. If the enterprise is a partnership, at least 51% of the partners must be socially or economically disadvantaged residents of the commonwealth who own a majority interest and maintain complete control of the partnership. If the enterprise is a corporation, its officers and at least 51% of the owners of the voting stock must be socially or economically disadvantaged residents of this commonwealth.
Application Information
To apply for funding, the applicant must submit the electronic on-line DCED Single Application for Assistance located at www.esa.dced.state.pa.us and also must print 1 copy of the entire Single Application for Assistance and send via US mail to The Pennsylvania Minority Business Development Authority office along with the required supplemental information and the Signature Page. Please reference the Web ID number on any documents sent with the Signature Page, or sent via e-mail.
PENNSYLVANIA MINORITY BUSINESS DEVELOPMENT AUTHORITY-REVOLVING LOAN FUND CAPITALIZATION PROGRAM
PENNSYLVANIA DEPARTMENT OF COMMUNITY AND ECONOMIC DEVELOPMENT
PMBDA-RLFCP program provides a source of funds with extended payment terms to successful Community Development Financial Institutions (CDFIs) and Community-based Revolving Loan Funds (RLFs) to make low-interest loans to businesses owned and operated by ethnic minorities.
Eligibility Requirements
- Community Development Financial Institutions (CDFIS)
- Community-based Revolving Loan Funds (RLFS)
- Any businesses owned and operated by ethnic minorities, except non-franchised restaurants.
Application Information
Loan Application guidelines and forms are available at dced.pa.gov. Following approval of the loan application the CFDI or RLF organization will execute a Credit Agreement with PMBDA in order to establish financing terms and conditions.
PRE-APPRENTICE AND APPRENTICESHIP GRANT PROGRAM
PENNSYLVANIA DEPARTMENT OF COMMUNITY AND ECONOMIC DEVELOPMENT
The Pre-Apprentice and Apprenticeship Grant Program (Apprenticeship Program) is a statewide program which offers assistance to registered apprenticeship programs. The program assists with related instruction that complements on the job training to deliver the technical and academic competencies that apply to the job.
Eligibility Requirements
Any sponsor operating an apprenticeship program in the commonwealth, irrespective of whether the sponsor employs the apprentice, is eligible to apply. The apprenticeship program must be registered with the Pennsylvania Department of Labor and Industry (L&I) Apprenticeship and Training Office (Training Office) and evidenced by a certificate of registration.
Every registered apprenticeship program has a sponsor. The sponsor is responsible for the overall operation of the program. DCED will accept grant proposals from apprenticeship sponsors that demonstrate an employer or employers play an active role in building the program and are involved in every step of designing and implementation of the apprenticeship. Proposals will be accepted from the following:
- Single Employer
- Employer Consortiums
- Workforce Development Boards
- Economic Development Organizations
- Labor Organizations
- Local Career Technical Education Institutions
- Pennsylvania Community Colleges
- Community Organizations or Associations
Partnerships and collaboration among the groups listed above are highly encouraged.
Application Information
Applications will be accepted and evaluated on an ongoing basis with awards made to eligible applicants for as long as funds are available. Grantees can request funding for up to three years in the request.
To apply for funding, the applicant must submit the electronic on-line PA Department of Community and Economic Development Single Application for Assistance located at www.esa.dced.state.pa.us. Required supplemental information outlined in Appendix I of these guidelines must be attached electronically to the application as directed on the Addenda tab. For technical inquiries regarding the submission of the on-line application, contact the Customer Service Center at (800) 379-7448 or (717) 787-3405.
SMALL DIVERSE BUSINESS CAPITAL ACCESS PROGRAM
PENNSYLVANIA DEPARTMENT OF COMMUNITY AND ECONOMIC DEVELOPMENT
The Small Diverse Business Capital Access Program is administered by the Pennsylvania Industrial Development Authority (PIDA) and provides low-interest loans and lines of credit to small diverse businesses that commit to creating and retaining full-time jobs within the Commonwealth. Loan applications are packaged and underwritten by a network of certified economic development organizations (CEDOs) that partner with PIDA to administer the program.
Eligibility Requirements
A variety of different industry sectors are eligible for SDBCA financing including manufacturing, industrial, agricultural, research and development, hospitality, defense conversion, recycling, construction, child day-care, retail and service, export, and computer-related service enterprises. The business must be certified by the PA Department of General Services (DGS) as a minority-owned, woman owned, veteran-owned, or service-disabled veteran-owned business with 100 or fewer employees worldwide.
Questions regarding the Small Diverse Business Verification Program can be directed to:
Department of General Services, Bureau of Diversity
Inclusion and Small Business Opportunities (BDISBO), Room 601
North Office Building
Harrisburg, PA 17125
Application Information
Loan applications are packaged by a CEDO that services the county a business is or will be located in. The CEDO will work with the business to determine whether or not the SDBCA loan program can assist with financing the needs of a business and will discuss in detail how the application process works.
WORKFORCE AND ECONOMIC DEVELOPMENT NETWORK OF PENNSYLVANIA (WEDNETPA)
PENNSYLVANIA COLLEGE OF TECHNOLOGY
Created by the Department of Community & Economic Development and made available through the Workforce and Economic Development Network of Pennsylvania, WEDnetPA, the program provides qualified employers training funds for new and existing employees. WEDnetPA is a unique, collaborative partnership of community colleges, state system universities and other educational institutions working together to be responsive to the needs of the business community.
Eligibility Requirements
Company Eligibility:
- Funding is limited to two years in a row or three out of the past five years.
- Company must be located in Pennsylvania.
- Company must be in an eligible industry cluster, commercial/industrial in nature and not be explicitly ineligible as defined by the complete guidelines.
- All locations under the same FEIN are considered a single company subject to the company cap.
- Each company location must submit its own application (exceptions may apply).
Employee Eligibility: To be eligible for reimbursement, at the time of training an employee must:
- Be a resident of and employed in Pennsylvania.
- Earn at least $12 per hour, excluding benefits.
- Be permanently employed full-time and eligible for full-time benefits.
Training Eligibility:
- Must be skill building training for current job, advancement or promotion.
- Training costs must be reasonable as defined by market rates and other criteria.
- Each training session must be a minimum of 30 minutes in length.
- Company orientation and on-the-job training are not eligible.
Application Information
Companies can apply through the flexible and easy-to-use online application system at WEDnetPA website. Program guidelines are available to view at the link above or by visiting the WEDnet website. Contact information for WEDnetPA Partners and the statewide WEDnetPA office can also be found on the website.
Applications are competitive and will be reviewed in the order they are received by the state office. Consideration will be given to quality of jobs, quality of training, industry partnership participation, geographic impact and company size. Application approval is also dependent upon passage of the state budget and program funding.
ABANDONED MINE DRAINAGE ABATEMENT AND TREATMENT PROGRAM (AMDATP)
PENNSYLVANIA COMMONWEALTH FINANCING AUTHORITY
The primary focus of these grants is abatement of Abandoned Mine Drainage (AMD) and/or treatment of AMD through treatment facility system construction. Grants may also be awarded for treatment system repair, upgrade or operation and maintenance of existing passive and active treatment systems. Priority will be given to projects that treat AMD for use in oil and gas drilling operations.
ACT 47/MUNICIPALITIES FINANCIAL RECOVERY ACT
PENNSYLVANIA DEPARTMENT OF COMMUNITY AND ECONOMIC DEVELOPMENT
Provides loan and grant funds to financially distressed local governments as well as technical assistance to formulate financial recovery plans.
ALTERNATIVE AND CLEAN ENERGY PROGRAM (ACE)
PENNSYLVANIA DEPARTMENT OF COMMUNITY AND ECONOMIC DEVELOPMENT
The Alternative and Clean Energy Program (ACE) provides financial assistance in the form of grant and loan funds that will be used by eligible applicants for the utilization, development and construction of alternative and clean energy projects in the state. The program is administered jointly by the Department of Community and Economic Development (DCED) and the Department of Environmental Protection (DEP), under the direction of the Commonwealth Financing Authority (CFA).
APPALACHIAN REGIONAL COMMISSION (ARC)
PENNSYLVANIA DEPARTMENT OF COMMUNITY AND ECONOMIC DEVELOPMENT
Each year in Pennsylvania, ARC provides funding for numerous projects in the Appalachian Region in a wide range of program areas. The projects funded in the program areas create thousands of new jobs, improve local water and sewer systems, increase school readiness, expand access to health care, assist local communities with strategic planning and provide technical and managerial assistance to emerging businesses.
BASELINE WATER QUALITY DATA PROGRAM
PENNSYLVANIA COMMONWEALTH FINANCING AUTHORITY
Funds are used to fund statewide initiatives to establish baseline water quality data on private water supplies using the Baseline Water Quality Data Program (BWQDP).
BEN FRANKLIN TECHNOLOGY DEVELOPMENT AUTHORITY TECHNOLOGY DEVELOPMENT GRANT
PENNSYLVANIA DEPARTMENT OF COMMUNITY AND ECONOMIC DEVELOPMENT
Grants to help groups or consortia of Pennsylvania companies position themselves at the cutting edge of emerging technologies and establish a competitive advantage through the use of advanced e-business systems.
BEN FRANKLIN TECHNOLOGY DEVELOPMENT AUTHORITY: VENTURE INVESTMENT PROGRAM
PENNSYLVANIA DEPARTMENT OF COMMUNITY AND ECONOMIC DEVELOPMENT
The Ben Franklin Technology Development Authority Venture Investment Program (VIP) is a Commonwealth of Pennsylvania initiative intended to address the financing needs of technology-oriented businesses by increasing the amount of risk capital available.
BEN FRANKLIN TECHNOLOGY PARTNERS CHALLENGE GRANT
PENNSYLVANIA DEPARTMENT OF COMMUNITY AND ECONOMIC DEVELOPMENT
Provides funds to businesses through the four Ben Franklin Technology Partners for access to capital, business expertise, technology commercialization services to advance the development of new technologies and for the generation, conservation, and transportation of alternative and clean energy.
BUILDING PENNSYLVANIA
PENNSYLVANIA COMMONWEALTH FINANCING AUTHORITY
Provides mezzanine capital (gap financing) for developers for real estate assets in small to mid-sized Pennsylvania communities.
BUSINESS IN OUR SITES GRANTS/LOANS (BOS)
PENNSYLVANIA COMMONWEALTH FINANCING AUTHORITY
The Business in Our Sites Program (the "program") provides grants and loans for the acquisition and development of key sites for future use by businesses, private developers, and others.
CITY REVITALIZATION AND IMPROVEMENT ZONE
PENNSYLVANIA DEPARTMENT OF COMMUNITY AND ECONOMIC DEVELOPMENT
The City Revitalization and Improvement Zone keeps state and local taxes within the CRIZ and distributes the collected funds towards economic development and improvement programs in that zone.
COAL REFUSE ENERGY AND RECLAMATION TAX CREDIT
PENNSYLVANIA DEPARTMENT OF COMMUNITY AND ECONOMIC DEVELOPMENT
The Coal Refuse Energy and Reclamation Tax Credit provides tax credits to eligible facilities which generate electricity by using coal refuse for power generation, control acid gases for emission control, and use ash produced by the facilities to reclaim mining-affected sites.
COMPUTER DATA CENTER EQUIPMENT EXEMPTION PROGRAM
PENNSYLVANIA DEPARTMENT OF REVENUE
Computer data center equipment is exempt from Pennsylvania sales and use tax when it is sold to, used, or consumed in a certified data center by an owner, operator or qualified tenant holding a Computer Data Center Sales and Use Tax Certificate of Exemption issued by the department.
ENGAGE!
PENNSYLVANIA DEPARTMENT OF COMMUNITY AND ECONOMIC DEVELOPMENT
Engage! is a statewide business retention and expansion (BRE) program designed to regularly and proactively interact with targeted companies.
ENTERTAINMENT ECONOMIC ENHANCEMENT PROGRAM (EEEP)
PENNSYLVANIA DEPARTMENT OF COMMUNITY AND ECONOMIC DEVELOPMENT
The Entertainment Economic Enhancement Program provides tax credits to concert tour promotion and management companies performing in Pennsylvania.
FILM TAX CREDIT PROGRAM
PENNSYLVANIA DEPARTMENT OF COMMUNITY AND ECONOMIC DEVELOPMENT
Article Act 84 of 2016 (Article XVII-D, the Entertainment Production Tax Credit) authorizes the issuance of Film Production Tax Credits in an effort to expand the Pennsylvania film industry.
FIRST INDUSTRIES FUND (FIF)
PENNSYLVANIA DEPARTMENT OF COMMUNITY AND ECONOMIC DEVELOPMENT
The First Industries Fund (FIF) is a program aimed at strengthening agriculture and tourism industries in Pennsylvania through loan guarantees. The program is administered by the Department of Community & Economic Development (DCED) under the direction of the Commonwealth Financing Authority (CFA).
GLOBAL ACCESS PROGRAM (GAP)
PENNSYLVANIA OFFICE OF INTERNATIONAL BUSINESS DEVELOPMENT
The Global Access Program (GAP) is designed to enhance the capability of small to mid-sized Pennsylvania companies to increase export sales. GAP is administered by the Pennsylvania Office of International Business Development (OIBD) and provides up to $10,000 per award period to qualifying Pennsylvania companies to reimburse up to 75% of eligible expenses associated with specific export promotion activities. The program is funded in part through a grant with the U.S. Small Business Administration.
GREENWAYS, TRAILS, AND RECREATION PROGRAM (GTRP)
PENNSYLVANIA COMMONWEALTH FINANCING AUTHORITY
Allocates funds for planning, acquisition, development, rehabilitation and repair of greenways, recreational trails, open space, parks and beautification projects using the Greenways, Trails and Recreation Program (GTRP).
HISTORIC PRESERVATION TAX CREDIT (HPTC)
PENNSYLVANIA DEPARTMENT OF COMMUNITY AND ECONOMIC DEVELOPMENT
The Historic Preservation Tax Credit (HPTC) provides tax credits to qualified taxpayers who will be completing the restoration of a qualified historic structure into an-income producing property. All projects must include a qualified rehabilitation plan that is approved by the Pennsylvania Historical and Museum Commission (PHMC) as being consistent with the standards for rehabilitation of historic buildings as adopted by the United States Secretary of the Interior.
INDUSTRIAL SITES REUSE PROGRAM (ISRP)
PENNSYLVANIA DEPARTMENT OF COMMUNITY AND ECONOMIC DEVELOPMENT
The Industrial Sites Reuse (ISR) Program provides grants and low-interest loans for environmental assessments and remediation.
MALT BEVERAGE TAX CREDIT PROGRAM
PENNSYLVANIA DEPARTMENT OF REVENUE
A taxpayer that is a manufacturer of malt or brewed beverages may submit an application for tax credits against the malt beverage tax imposed under Article XX of the Tax Reform Code for investment in qualified capital expenditures.
MANUFACTURING PA INDUSTRIAL RESOURCE CENTER PROGRAM
PENNSYLVANIA DEPARTMENT OF COMMUNITY AND ECONOMIC DEVELOPMENT
The Manufacturing PA, Industrial Resource Center (IRC) program helps manufacturers compete more effectively through the adoption of modern manufacturing philosophies, techniques, and technologies.
MANUFACTURING PA INNOVATION PROGRAM
PENNSYLVANIA DEPARTMENT OF COMMUNITY AND ECONOMIC DEVELOPMENT
The Manufacturing PA Innovation Program leverages the internationally acclaimed science and engineering talent and discovery capacity of all Pennsylvania’s institutions of higher education to help ensure that Pennsylvania remains a national and international leader in manufacturing and achieves the full economic potential for good well-paying manufacturing jobs.
MANUFACTURING PA TRAINING-TO-CAREER GRANT PROGRAM
PENNSYLVANIA DEPARTMENT OF COMMUNITY AND ECONOMIC DEVELOPMENT
The Manufacturing PA Training-to-Career Grant program is designed to help companies identify and train a skilled workforce while creating a workplace culture that allows the workforce to advance and the company to grow and compete in a competitive, global economy as a complement to existing programs.
MANUFACTURING TAX CREDIT (MTC) PROGRAM
PENNSYLVANIA DEPARTMENT OF COMMUNITY AND ECONOMIC DEVELOPMENT
Program provides tax credits to taxpayers who increase their annual taxable payroll by $1,000,000 through the creation of new full-time jobs. The taxpayer must agree to retain the new jobs and the increase in payroll for at least five years from the start date.
MARKETING TO ATTRACT TOURISTS
PENNSYLVANIA DEPARTMENT OF COMMUNITY AND ECONOMIC DEVELOPMENT
The Marketing to Attract Tourists Program provides funding to support and development international tourism, sports marketing, outdoor recreation, and cultural attractions.
MIXED USE DEVELOPMENT TAX CREDIT
PENNSYLVANIA HOUSING FINANCE AGENCY
The Agency is authorized to sell $4.5 million of state tax credits to qualified taxpayers for the purpose of establishing the Mixed-Use Development Fund. Distributions from the fund will be awarded to eligible construction or rehabilitation projects in target areas of the Commonwealth with an identifiable need for increased affordable housing opportunities and commercial corridor development. The program provides financing to critical projects as part of an overall strategy for revitalizing communities by maximizing public and private resources, fostering sustainable partnerships committed to addressing community needs and ensuring that resources are used to effectively and efficiently meet those needs.
MOBILE TELECOMMUNICATIONS BROADBAND INVESTMENT TAX CREDIT
PENNSYLVANIA DEPARTMENT OF REVENUE
For tax years beginning after December 31, 2013, and ending before January 1, 2024, a taxpayer that is a provider of mobile telecommunication services shall be allowed a tax credit against the corporate net income tax for investment in certain qualified broadband equipment placed into service in this Commonwealth.
MULTIMODAL TRANSPORTATION FUND
PENNSYLVANIA DEPARTMENT OF COMMUNITY AND ECONOMIC DEVELOPMENT
The Multimodal Transportation Fund provides grants to encourage economic development and ensure that a safe and reliable system of transportation is available to the residents of the commonwealth.
NEW PA VENTURE CAPITAL INVESTMENT PROGRAM
PENNSYLVANIA COMMONWEALTH FINANCING AUTHORITY
New PA Venture Capital Investment Program shall provide loans to venture capital partnerships for investment in Pennsylvania-related companies. The nature of the investments by the venture capital partnerships shall be equity or convertible debt.
NEXT GENERATION FARMER LOAN PROGRAM
PENNSYLVANIA DEPARTMENT OF COMMUNITY AND ECONOMIC DEVELOPMENT
The Next Generation Farmer Loan Program uses federal tax-exempt financing to reduce the interest rate for capital purchases for farmers, such as the purchase of farm land or agricultural machinery and equipment.
ORPHAN OR ABANDONED WELL PLUGGING PROGRAM (OAWP)
PENNSYLVANIA COMMONWEALTH FINANCING AUTHORITY
To fund orphan or abandoned well plugging projects using the Orphan or Abandoned Well Plugging Program (OAWP). Pennsylvania has hundreds of thousands of oil and gas wells drilled since 1859. This program provides a mechanism to plug abandoned and orphaned wells that have the potential to cause health, safety or environmental concerns.
PA LIFE SCIENCE GREENHOUSE INITIATIVE
PENNSYLVANIA DEPARTMENT OF COMMUNITY AND ECONOMIC DEVELOPMENT
The Life Sciences Greenhouses are models of effectiveness and efficiency. They capture the innovation potential of the life sciences industry and nurture that potential with critical early-stage funding and sector-specific business expertise. Pennsylvanians benefit directly as new companies are formed, jobs are created, additional capital is attracted to the commonwealth, and life-saving technologies reach patients.
PARTNERSHIPS FOR REGIONAL ECONOMIC PERFORMANCE (PREP)
PENNSYLVANIA DEPARTMENT OF COMMUNITY AND ECONOMIC DEVELOPMENT
Partnerships for Regional Economic Performance (PREP) will provide grants to consortia of economic development service providers that may co-locate, develop formal partnership agreements, or otherwise create a coordinated and performance-based service delivery system that ensures each inquiry or lead from a business or potential entrepreneur is referred to, and acted upon expeditiously by, the appropriate service provider(s) in the region.
PENNSYLVANIA COMMUNITY DEVELOPMENT BANK LOAN PROGRAM (PCD BANK)
PENNSYLVANIA ECONOMIC DEVELOPMENT FINANCING AUTHORITY
The Pennsylvania Community Development Bank Loan Program provides debt financing for Community Development Financial Institutions (CDFIs). PCD Bank offers both a Capacity Building Grants Program and a Loan Program to assist and grow CDFIs in Pennsylvania.
PENNSYLVANIA DAIRY INVESTMENT PROGRAM (PDIP)
PENNSYLVANIA DEPARTMENT OF COMMUNITY AND ECONOMIC DEVELOPMENT AND THE DEPARTMENT OF AGRICULTURE
The Pennsylvania Dairy Investment Program was established for research and development, organic transition, value-added processing, and marketing grants in support of the Pennsylvania Dairy Industry. The program is administered jointly by the Department of Community and Economic Development (DCED) and the PA Department of Agriculture (PDA), under the direction of the Commonwealth Financing Authority (CFA).
PENNSYLVANIA FIRST PROGRAM (PA FIRST)
PENNSYLVANIA DEPARTMENT OF COMMUNITY AND ECONOMIC DEVELOPMENT
The Pennsylvania First Program may provide grants, loans and loan guarantees to facilitate increased investment and job creation within the Commonwealth.
PENNSYLVANIA INDUSTRIAL DEVELOPMENT AUTHORITY (PIDA)
PENNSYLVANIA DEPARTMENT OF COMMUNITY AND ECONOMIC DEVELOPMENT
The PIDA provides low-interest loans and lines of credit for eligible businesses that commit to creating and retaining full-time jobs and for the development of industrial parks and multi-tenant facilities. Loan applications are packaged and underwritten by a network of certified economic development organizations (CEDOs) that partner with PIDA to administer the program.
PENNSYLVANIA INFRASTRUCTURE BANK (PIB)
PENNSYLVANIA DEPARTMENT OF TRANSPORTATION
The Pennsylvania Infrastructure Bank (PIB) is a PennDOT program that provides low-interest loans to help fund transportation projects within the Commonwealth.
PENNSYLVANIA INFRASTRUCTURE INVESTMENT AUTHORITY (PENNVEST)
PENNVEST
PENNVEST provides low-interest loans and grants for new construction or for improvements to publicly or privately-owned drinking water, storm water or sewage treatment facilities, as well as non-point source pollution prevention best management practices. PENNVEST also provides loan funding to remediate brownfields sites, as well as loan funding to individual homeowners for repair or replacement of their malfunctioning on-lot septic system or first time connection to a public sewer collection system. The Advance Funding Program provides low-interest loans to provide funding for the design and engineering needed to improve water and wastewater management systems.
PENNSYLVANIA INFRASTRUCTURE TECHNOLOGY ALLIANCE (PITA)
PENNSYLVANIA DEPARTMENT OF COMMUNITY AND ECONOMIC DEVELOPMENT
The Pennsylvania Infrastructure Technology Alliance (PITA) is a collaboration of the Commonwealth of Pennsylvania, the Center for Advanced Technology for Large Structural Systems (ATLSS) at Lehigh University, and the Institute for Complex Engineered Systems at Carnegie Mellon University.
PENNSYLVANIA MILK PROCESSING TAX CREDIT PROGRAM
PENNSYLVANIA DEPARTMENT OF REVENUE
Qualified Taxpayers purchasing milk for use in dairy processing at a facility in the Commonwealth will be entitled to a Pennsylvania Milk Processing (“PMP”) Tax Credit. The PMP Tax Credit will be equal to five cents per gallon of milk purchased and produced from sources exclusively in the Commonwealth and processed at the project facility by the qualified taxpayer.
PENNSYLVANIA RESOURCE MANUFACTURING TAX CREDIT (PRM)
PENNSYLVANIA DEPARTMENT OF REVENUE
Beginning in 2017, any manufacturer purchasing natural gas containing ethane as a petrochemical feedstock at a facility within the Commonwealth could be eligible for a PRM Tax Credit equal to five cents per gallon ($2.10 per barrel) of ethane purchased and used in manufacturing ethylene, so long as the company makes a capital investment of at least $1 billion and creates the equivalent of at least 2,500 full-time jobs while constructing the manufacturing facility. Effective for ethane purchased between Jan. 1, 2017 and Dec. 31, 2042.
PENNSYLVANIA TECHNICAL ASSISTANCE PROGRAM (PENNTAP)
THE PENNSYLVANIA STATE UNIVERSITY
The Pennsylvania Technical Assistance Program (PennTAP) helps Pennsylvania companies improve their competitiveness, by providing a limited amount of free technical assistance to resolve specific technical questions or needs, while it facilitates connections to other relevant information, resources and/or programs. PennTAP is a statewide network of geographically-dispersed technical specialists with expertise in a variety of focus areas, including advanced information technology, environmental compliance, energy efficiency and conservation, operations improvement, occupational safety and health, product development, federal Small Business Innovation Research/Small Business Technology Transfer proposal development, technology transfer and commercialization.
PIPELINE INVESTMENT PROGRAM (PIPE)
PENNSYLVANIA DEPARTMENT OF COMMUNITY AND ECONOMIC DEVELOPMENT
The Pipeline Investment Program (PIPE) provides grants to construct the last few miles of natural gas distribution lines to business parks, existing manufacturing and industrial enterprises, which will result in the creation of new economic base jobs in the commonwealth while providing access to natural gas for residents.
POWDERED METALS PROGRAM
PENNSYLVANIA DEPARTMENT OF COMMUNITY AND ECONOMIC DEVELOPMENT
The Powdered Metals Program provides training programs for the existing workforce supported through Penn State and the regional community education councils. The program makes use of the facilities in the schools within the north central Pennsylvania region, such as the metalworking facility at St. Marys High School and the laboratory at the Penn State DuBois campus.
QUALIFIED MANUFACTURING INNOVATION & REINVESTMENT DEDUCTION
PENNSYLVANIA DEPARTMENT OF COMMUNITY AND ECONOMIC DEVELOPMENT
The Qualified Manufacturing Innovation and Reinvestment Deduction was established to encourage increased investment and job creation through manufacturing in Pennsylvania.
RAIL FREIGHT ASSISTANCE (RFA)
PENNSYLVANIA DEPARTMENT OF TRANSPORTATION
The Rail Freight Assistance Program (RFA) provides financial assistance for investment in rail freight infrastructure to build or repair rail lines or spurs.
REDEVELOPMENT ASSISTANCE CAPITAL PROGRAM (RACP)
PENNSYLVANIA OFFICE OF THE BUDGET
The Redevelopment Assistance Capital Program (RACP) is a Commonwealth grant program administered by the Office of the Budget for the acquisition and construction of regional economic, cultural, civic, recreational, and historical improvement projects.
REGIONAL CENTER - NEW AMERICAN DEVELOPMENT FUND
PENNSYLVANIA DEPARTMENT OF COMMUNITY AND ECONOMIC DEVELOPMENT
The program provides low-cost loans to enterprises with job-creating projects located within the federally-designated EB5 regional center. The federal EB5 investor program grants eligible foreign investors the opportunity to obtain an EB5 visa if they commit to invest funds in job-producing development projects in the United States. Funds may be used to finance new construction, the acquisition of plant, property and equipment, building rehabilitation, tenant improvements and working capital.
RENEWABLE ENERGY PROGRAM (REP): GEOTHERMAL AND WIND PROJECTS
PENNSYLVANIA DEPARTMENT OF COMMUNITY AND ECONOMIC DEVELOPMENT
The Renewable Energy Program (REP) provides financial assistance in the forms of grant and loan funds to promote the use of alternative energy in Pennsylvania. The program is administered jointly by the Department of Community and Economic Development (DCED) and the Department of Environmental Protection (DEP) under the direction of the Commonwealth Financing Authority (CFA).
RESEARCH AND DEVELOPMENT (R&D) TAX CREDIT ASSIGNMENT PROGRAM
PENNSYLVANIA DEPARTMENT OF REVENUE
Research and Development tax credits (R&D tax credits) are available to taxpayers incurring qualified expenses for research and development in Pennsylvania.
RESEARCH AND DEVELOPMENT TAX CREDIT
PENNSYLVANIA DEPARTMENT OF REVENUE
A tax credit on research and development costs incurred in Pennsylvania.
RESOURCE ENHANCEMENT AND PROTECTION (REAP) PROGRAM
PENNSYLVANIA DEPARTMENT OF REVENUE
Through the Resource Enhancement and Protection (REAP) Program, farmers, landowner, and businesses earn tax credits for implementing Best Management Practices (BMPs) that will enhance farm production and protect natural resources.
RURAL JOBS AND INVESTMENT TAX CREDIT PROGRAM (RJTC)
PENNSYLVANIA DEPARTMENT OF COMMUNITY AND ECONOMIC DEVELOPMENT
The Rural Jobs and Investment Tax Credit Program is an investment tool designed to offer rural business owners access to capital for business development in rural areas. The capital is sourced to Rural Growth Funds, designated to receive up to $50 million dollars in capital contributions from investors.
SECOND STAGE LOAN PROGRAM
PENNSYLVANIA COMMONWEALTH FINANCING AUTHORITY
Loan Guarantees for working capital for 2-7 yr old manufacturing, biotech and technology-oriented companies.
SEWAGE FACILITIES PROGRAM (SFP)
PENNSYLVANIA COMMONWEALTH FINANCING AUTHORITY
Funds for statewide initiatives for complying with the Act of January 24, 1966 (1965 P. L. 1535, No. 537), known as the Pennsylvania Sewage Facilities Act.
SOLAR ENERGY PROGRAM (SEP)
PENNSYLVANIA COMMONWEALTH FINANCING AUTHORITY
The Solar Energy Program (SEP) provides financial assistance in the form of grant and loan funds to promote the use of solar energy in Pennsylvania. The program is administered jointly by the Department of Community and Economic Development (DCED) and the Department of Environmental Protection (DEP) under the direction of the Commonwealth Financing Authority (CFA).
TAX INCREMENT FINANCING (TIF) GUARANTEE PROGRAM
PENNSYLVANIA DEPARTMENT OF COMMUNITY AND ECONOMIC DEVELOPMENT
Promotes and stimulates the general economic welfare of various regions and communities in the Commonwealth and assists in the development, redevelopment and revitalization of Brownfield and Greenfield sites in accordance with the TIF Act. The program provides credit enhancement for TIF projects to improve market access and lower capital costs through the use of guarantees to issuers of bonds or other indebtedness.
TOURISM ACCREDITED ZOOS PROGRAM
PENNSYLVANIA DEPARTMENT OF COMMUNITY AND ECONOMIC DEVELOPMENT
The Tourism Accredited Zoos Program provides funding to Pennsylvania accredited zoos designated by the Association of Zoos & Aquariums (AZA) and the Zoological Association of America (ZAA).
VIDEO GAME PRODUCTION TAX CREDIT (VGPTC)
PENNSYLVANIA DEPARTMENT OF COMMUNITY AND ECONOMIC DEVELOPMENT
Recipients of a Video Game Production Tax Credit may use the tax credit to offset their Pennsylvania state liability or sell, assign, or transfer the credits to another entity.
WATERFRONT DEVELOPMENT TAX CREDIT PROGRAM
PENNSYLVANIA DEPARTMENT OF COMMUNITY AND ECONOMIC DEVELOPMENT
Program provides tax credits to business firms who provide contributions to waterfront development organizations who are undertaking a waterfront development project.
WATERSHED RESTORATION AND PROTECTION PROGRAM
PENNSYLVANIA DEPARTMENT OF COMMUNITY AND ECONOMIC DEVELOPMENT
The Watershed Restoration and Protection Program provides grants to fund the construction, improvement, expansion, repair, maintenance, or rehabilitation of watersheds.
Rhode Island
BONUS PROGRAM PRIVATE PARTICIPATION TAX CREDIT
Rhode Island Commerce Corporation
An employer who participates in the Bonus Program, which provides job training for former public assistance recipients, can qualify for a $250 tax credit per participant.
Eligibility Requirements:
A certificate of eligibility from the RI Department of Human Services is required.
Application Information:
Please contact agency for details:
Rhode Island Commerce Corporation
315 Iron Horse Way, Suite 101
Providence, RI 02908
Phone: 401-278-9100
Additional information available from the Rhode Island Commerce Corporation.
BUSINESS INCOME APPORTIONMENT FOR MANUFACTURERS
RHODE ISLAND DIVISION OF TAXATION
Business Income Apportionment for Manufacturers allows affiliated multi-state corporations to file single, separate Rhode Island corporate tax returns or file a consolidated return. In either case, the corporate net income/net worth is subject to Rhode Island apportionment using the average of a three-factor formula (property, receipts, and payroll).
Eligibility Requirements & Application:
For more information, contact:
Rhode Island Division of Taxation
Corporate Tax Division
One Capitol Hill
Providence, RI 02908
Phone: 401-574-8935
[email protected]
Additional information available from the Rhode Island Division of Taxation.
CHILD AND ADULT DAYCARE TAX CREDIT
RHODE ISLAND DEPARTMENT OF HUMAN SERVICES
A Rhode Island taxpayer that purchases or provides for adult or child day care services for adult family members or dependent children of the taxpayer’s employees or to employees of its commercial tenants is allowed a taxcredit.
Eligibility Requirements:
Credits for child daycare require confirmation that the facility agrees to accept children forwhom the services are paid by Rhode Island Department of Human Services.
Application Information:
Please contact the agency for details:
Rhode Island Commerce Corporation
315 Iron Horse Way, Suite 101
Providence, RI 02908
Phone: (401) 278-9100
[email protected]
Additional information available from the Rhode Island Commerce Corporation.
DISABLED ACCESS CREDIT FOR SMALL BUSINESS
RHODE ISLAND DIVISION OF TAXATION
The Disabled Access Credit for Small Business allows a small business taxpayer that pays for or incurs expenses in Rhode Island to provide access to persons with disabilities shall be allowed a 10% credit up to $1,000 against the Business Corporation Tax or Public Service Corporation Tax.
Eligibility Requirements:
Expenses must be paid or incurred on or after January 1, 1998, and may be only for:
- removing architectural, communication, physical, or transportation barriers;
- providing qualified interpreters or other effective methods of delivering aurally delivered materials to persons with hearing impairments;
- providing readers, tapes or other effective means of making visually delivered materials available to persons with visual impairments;
- providing job coaches or other effective methods of supporting workers with severe impairments in competitive employment;
- providing specialized transportation services to employees or customers with mobility impairments;
- buying or modifying equipment for persons with disabilities;
- providing similar services, modifications, materials or equipment for persons with disabilities.
Small business is one that for the preceding tax year had thirty (30) or fewer full-time employees, or had one million dollars ($1,000,000) or less in gross receipts.
Application Information:
Contact the Rhode Island Division of Taxation for more information:
One Capitol Hill
Providence, RI 02908
Phone: 401-574-8935
[email protected]
Additional information available from the Rhode Island Commerce Corporation.
EMPLOYER'S APPRENTICESHIP TAX CREDIT
RHODE ISLAND DEPARTMENT OF LABOR AND TRAINING
The tax credit provides an employer a tax credit of 50 percent of actual wages paid to a qualifying apprentice or $4,800, whichever is less.
Eligibility Requirements:
Apprenticeships must meet the following requirements:
- The tax credit is limited to qualified Machine Tool, Metal Trade and Plastics Process Technician programs with apprenticeship periods of duration which are more than four thousand (4,000) hours and less than ten thousand (10,000) hours.
- The apprentice must be employed on a full-time basis, which is defined as working a minimum of one hundred twenty (120) hours per month at the trade. Up to eighty (80) hours may be applied during the tax year against the one hundred twenty (120) hour limitation.
- Pre-apprentices are not counted as apprenticeships begun and wages earned by pre-apprentices are not eligible for tax credits under this regulation.
- The number of apprenticeships for which tax credit is allowed must exceed the average number of apprenticeships begun during the five (5) preceding income years.
Application Information:
For more information please visit the program website.
Additional information available from the Rhode Island Department of Labor and Training.
HIRING OF UNEMPLOYED OR LOW-INCOME RESIDENTS TAX CREDIT
RHODE ISLAND DIVISION OF TAXATION
A tax credit of 40% of the first year wages of a newly-hired employee (up to a maximum of $2,400) is allowed for individuals or businesses that employ and retain Rhode Island residents who were previously unemployed or receiving public assistance.
Eligibility Requirements:
Each eligible employee must:
- Have been a Rhode Island resident for at least 52 consecutive weeks prior to the date of hire.
- Previously unemployed for a period of at least 26 consecutive calendar weeks immediately prior to the date of hire
- Either: (1) received public assistance for at least one year preceding the date of hire or (2) have received unemployment benefits from Rhode Island or any other state at any time during the 52 weeks prior to the date of hire.
Application Information:
After receiving the initial request from the claimant business for the tax incentive, the department of labor and training shall provide to the claimant business certification of unemployment as soon as practicable. The department of labor and training shall determine the eligibility of the employee and issue certification for the employee.
Additional information available from the Rhode Island Commerce Corporation.
INCUMBENT WORKER TRAINING GRANT PROGRAM
RHODE ISLAND GOVERNOR'S WORKFORCE BOARD
The Incumbent Worker Training Grant Program was created to support continuing education, training and upskilling of incumbent employees working for Rhode Island employers and is intended to:
- help employers upskill their workforce to remain competitive in an economy with evolving technologies, techniques, and markets; and
- help workers maintain employment and advance in their careers.
The program is administered by the Governor’s Workforce Board (GWB) at the Rhode Island Department of Labor and Training and provides a 50% or 75% reimbursement for eligible costs on eligible training activities.
Eligibility Requirements:
Employers must meet four (4) eligibility requirements to participate in the program:
- Classified as a for-profit or private non-profit entity doing business in Rhode Island (public/government entities are not eligible).
- Pays into the Rhode Island Job Development Fund via Unemployment Insurance taxes.
- In good standing with the Rhode Island Division of Taxation, all divisions of the Rhode Island Department of Labor and Training, and not prohibited from contracting with an agency that administers federal funds.
- Registered in the Ocean State Procures system (‘OSP’). If the employer is not currently registered with OSP, registration must be completed and approved prior to applying for Incumbent Worker Training Grants.
Employers may utilize this program to provide training that demonstrates a clear benefit to the organization and its employee(s). To be approved, an Incumbent Worker Training Grant Application must demonstrate at least one (1) of the following:
- Training responds to a new or modified local, state, federal, or international regulation or standard that requires a change in technology, process, etc.
- Training responds to rapidly changing industry practices or skill requirements, new technologies, or the emergence of new products or competitors.
- New market opportunities may become available because of the skills acquired through the training.
- The employee(s) will be positioned to advance into higher paying roles because of the training.
- The employee(s) will receive an industry recognized credential/certification that is transferable should they separate from the employer.
Application Information:
Before training begins, an application must be submitted by the employer and approved by GWBstaff. The Incumbent Worker Training Grant application is available online at www.gwb.ri.gov andcan be submitted at any time (please apply at least three weeks prior to the start of a desiredtraining activity). Applications are currently accepted online only.
When an application is successfully submitted, the applicant will receive an email confirmation.This is the employer’s receipt and counts as proof that the application was submitted. If you donot receive an email confirmation after applying, please contact the GWB within 24 hours forassistance.
Applications are typically processed within seven (7) days of receipt. Each submission is reviewedby GWB staff for accuracy and to determine eligibility. If any issues are identified in theapplication, the point of contact listed on the application will be notified.Employers should submit one (1) application for each unique training activity.
Additional information available from the Rhode Island Governor's Workforce Board.
INNOVATION VOUCHER PROGRAM
RHODE ISLAND COMMERCE CORPORATION
The Innovation Voucher program unlocks R&D capacity for Rhode Island small businesses. Vouchers are grants that can help small companies in Rhode Island buy the expertise needed to develop a new product or process.
Eligibility Requirements:
Rhode Island small businesses that have fewer than 500 employees within the state are eligible to apply. Funded projects must be conducted in Rhode Island in partnership with a Rhode Island knowledge provider or at the recipient's manufacturing facility.
Voucher awards cannot be redeemed for ordinary and necessary business expenses such as standard training, software purchases, web or application development, general marketing or sales, general business advice or consulting, any costs associated with applying for grants, entertainment, providing internships or support for undergraduate students.
Application Information:
Applications are accepted on a rolling basis.
Additional information available from the Rhode Island Commerce Corporation.
MANUFACTURING FUELS & RAW MATERIALS SALES TAX EXEMPTION
RHODE ISLAND COMMERCE CORPORATION
Sales of tangible personal property, computer software and public utility services are exempt from sales tax when the property or service becomes a component part of a manufactured product for resale, or when the property or service is used in the process of manufacturing or processing products for resale.
Contact Information:
Rhode Island Commerce Corporation
315 Iron Horse Way, Suite 101
Providence, RI 02908
Phone: 401-278-9100
[email protected]
Additional information available from the Rhode Island Commerce Corporation.
MANUFACTURING INVESTMENT TAX CREDIT (4%)
RHODE ISLAND DIVISION OF TAXATION
A manufacturer is allowed a 4% tax credit against the Rhode Island corporate income tax on buildings and structural components, as well a machinery and equipment, which are owned or leased and are principally used in the production process (including storage). Property principally used for administration and distribution purposes is not eligible.
Contact Information:
Department of Labor and Training
Governor's Workforce Board-RI
1511 Pontiac Avenue
Cranston, RI 02920
Phone: (401) 462-8860
Fax: (401) 462-8865
[email protected]
Additional information available from the Department of Labor and Training.
MANUFACTURING MACHINERY & EQUIPMENT SALES TAX EXEMPTION
RHODE ISLAND COMMERCE CORPORATION
A tax exemption for the manufacturing and sale of industrial machinery.
Contact Information:
Rhode Island Commerce Corporation
315 Iron Horse Way, Suite 101
Providence, RI 02908
Phone: 401-278-9100
[email protected]
Additional information available from the Rhode Island Commerce Corporation.
NON-TRADE APPRENTICESHIP INCENTIVE PROGRAM
RHODE ISLAND GOVERNOR'S WORKFORCE BOARD
The Non-Traditional Apprenticeship Incentive Program provides an incentive payment of $1,000 per non-trade apprentice registered after the completion of the required probationary period. Employers are eligible for up to $5,000 in monetary incentives within any 12-month period.
Eligibility Requirements:
Non-trade apprenticeships are apprenticeships that are registered with the Department of Labor and Training that are outside of the construction trades. The required probationary period is a standard that established as part of the apprenticeship approval process and will vary based on the apprenticeship model.
Application Information:
Application information is listed on the program website.
Additional information available from the Rhode Island Governor's Workforce Board.
QUALIFIED JOBS INCENTIVE TAX CREDIT
RHODE ISLAND COMMERCE CORPORATION
Provides businesses with a base tax credit for creating a minimum number of new jobs in Rhode Island or growing an in-state workforce by a specific percentage.
Eligibility Requirements:
The minimum number of new full-time jobs required to be eligible for a tax credit under this program shall be as follows:
- For a business in a targeted industry that employs not more than one hundred full-time employees on the date of application to the commerce corporation, the creation of at least ten new full-time jobs in this state;
- For a business in a targeted industry that employs more than one hundred full-time employees on the date of application to the commerce corporation, either the creation of new full-time jobs in this state in an amount not less than ten percent of the business's existing number of full-time employees or the creation of at least one hundred new full-time jobs in this state;
- For a business in a non-targeted industry that employs not more than two hundred full-time employees on the date of application to the commerce corporation, the creation of at least twenty new full-time jobs in this state; or
- For a business in a non-targeted industry that employs more than two hundred full-time employees on the date of application to the commerce corporation, either the creation of new full-time jobs in this state in an amount not less than ten percent of the business's existing number of full-time employees or the creation of at least one hundred new full-time jobs in this state.
Target Industries:
- Biomedical innovation
- IT/software
- Cyber-physical systems
- Data analytics
- Defense shipbuilding and maritime
- Advanced business services
- Design, food and custom manufacturing
- Transportation, distribution, logistics
- Arts
- Education
- Hospitality and tourism
Application Information:
Please contact agency for details
Additional information available from the Rhode Island Commerce Corporation.
RESEARCH AND DEVELOPMENT EXPENSES CREDIT
RHODE ISLAND DIVISION OF TAXATION
The Research and Development Expenses Credit offers corporations a 22.5% tax credit for increases in qualified research expenses.
Eligibility Requirements:
This credit is available to corporations.
Application Information:
Please contact the agency for details:
Rhode Island Division of Taxation
One Capitol Hill
Providence, RI 02908
Phone: 401-574-8935
[email protected]
Additional information available from the Rhode Island Commerce Corporation.
SMALL BUSINESS LOAN FUND
RHODE ISLAND COMMERCE CORPORATION
For smaller businesses looking for a direct, fully secured loan, the Small Business Loan Fund (SBLF) provides up to $500,000 or working capital to existing manufacturing, processing and selected services. Additionally, manufacturers seeking financing to be used for the acquisition of land, buildings, and equipment may qualify for loans in excess of $500,000.
Eligibility Requirements:
Eligible applicants: existing manufacturing, processing, and selected service companies.
Application Information:
Security and Personal guarantee generally required.
Application Fee: $250
Application Process: Please contact financial services staff for further details.
Stacy Farrell
Rhode Island Commerce Corporation
Financial Services
315 Iron Horse Way
Providence, RI 02908
Phone: 401-278-9126
Fax: 401-273-8270
[email protected]
Additional information available from the Rhode Island Commerce Corporation.
TAX CREDITS FOR CONTRIBUTIONS TO SCHOLARSHIP ORGANIZATIONS
RHODE ISLAND DIVISION OF TAXATION
A credit for businesses that make cash contributions to qualified scholarship organizations.
Eligibility Requirements:
Business entity means an entity authorized to do business in the state and subject to taxes imposed of the general laws. Business entities also include Subchapter S Corporations, Limited Liability Partnerships, and Limited Liability Corporations.
Application Information:
Prior to the contribution, a business entity shall apply in writing to the division of taxation. The application shall contain such information and certification as the tax administrator deems necessary for the proper administration.
Additional information available from the Rhode Island Division of Taxation.
TAX EXEMPT BONDS
RHODE ISLAND COMMERCE CORPORATION
RIIFC issues tax-exempt private activity bonds for companies to finance manufacturing projects. Contact the agency for details:
Bill Ash
Rhode Island Commerce Corporation
315 Iron Horse Way, Suite 101
Providence, RI 02908
Phone: 401-278-9184
[email protected]
Additional information available from the Rhode Island Commerce Corporation.
TAXABLE BONDS
RHODE ISLAND COMMERCE CORPORATION
RIIFC issues taxable bonds for businesses that are expanding and require a long-term financing solution. Contact the Finance team to discuss eligibility, project requirements, and other details:
Bill Ash
Rhode Island Commerce Corporation
315 Iron Horse Way, Suite 101
Providence, RI 02908
Phone: 401-278-9184
[email protected]
Additional information available from the Rhode Island Commerce Corporation.
WORK IMMERSION TRAINING GRANTS
RHODE ISLAND GOVERNOR'S WORKFORCE BOARD
Work Immersion is an internship support program available to Rhode Island employers. It was established pursuant to Rhode Island General Law § 42-102-11 and is designed to boost the employment prospects of new and returning workers (i.e., eligible students and unemployed or underemployed adults) through meaningful paid work experiences. The program is administered by the Governor’s Workforce Board (GWB) and provides a 50% or 75% reimbursement for wages paid to eligible participants.
Eligibility Requirements:
Eligible Employers:
Employers must meet three (3) eligibility requirements to participate in the program:
1) Classified as a for-profit or private non-profit entity doing business in Rhode Island
(public/government entities are not eligible).
2) In good standing with the Rhode Island Division of Taxation, all divisions of the Rhode Island Department of Labor and Training, and not prohibited from contracting with an agency that administers federal funds.
3) Registered in the Ocean State Procures system (‘OSP’). If the employer is not currently
registered with OSP, registration must be completed and approved prior to applying for Work Immersion.
Eligible Participants:
Students -- To be eligible for Work Immersion as a student, an individual must be:
- A Rhode Island resident attending any school or a non-Rhode Island resident who is attending a secondary or postsecondary school or training program located in Rhode Island at the time of participation in the program, or who graduated from a school or training program located in Rhode Island within the past six (6) months; and,
- Authorized to work in the United States.
Unemployed or Underemployed Adults – To be eligible for Work Immersion as an unemployed or underemployed adult, an individual must be:
- A Rhode Island resident;
- At least 18 years of age;
- Authorized to work in the United States;
- Unemployed (either collecting Unemployment Insurance benefits or not receiving wages prior to participating in the work experience); or,
- Underemployed (not having enough paid work or not doing work that makes full use of their skills and abilities); and,
- New to the employer.
Employers may NOT utilize this program to provide work experience to participants who are:
- Existing employees (participants must be new hires)
- Immediate relatives of the employer
- Hired as independent contractors under a 1099
Application Information:
Before a work experience can begin, an application must be submitted by the employer and approved by GWB staff. The Work Immersion application is available online at www.gwb.ri.gov and can be submitted at any time. Applications are currently accepted online only.
When an application is successfully submitted, the applicant will receive an email confirmation. This is the employer’s receipt and counts as proof that the application was submitted. If you do not receive an email confirmation after applying, please contact the GWB within 24 hours for assistance.
Applications are typically processed within seven (7) days of receipt. Each submission is reviewed by GWB staff for accuracy and to determine eligibility. If any issues are identified in the application, the point of contact listed on the application will be notified.
Additional information available from the Rhode Island Governor's Workforce Board.
ACCELERATED AMORTIZATION FOR DEFENSE INDUSTRY MANUFACTURERS
RHODE ISLAND DIVISION OF TAXATION
Qualified corporations which have annually produced goods worth at least $10,000,000 at facilities located in Rhode Island, over a period of five consecutive years, may accelerate the amortization of depreciation of their depreciable assets over a five year period if an average of at least 80% of that production has been for sale to a branch of the United States Armed Services.
ADULT EDUCATION TAX CREDIT
RHODE ISLAND DEPARTMENT OF REVENUE
The Adult Education Tax Credit is a nonrefundable tax credit placed against businesses that have work or non-worksite or worksite-based adult education programs.
ALIEN INSURANCE COMPANIES
RHODE ISLAND COMMERCE CORPORATION
The Rhode Island Port of Entry Act passed in 1997 allows a foreign (non-U.S.) insurance company to become licensed in Rhode Island and, as long as it maintains its base of U.S. operations in Rhode Island, be treated as a Rhode Island domiciled insurance company for the purposes of obtaining licenses in other states
BROWNFIELDS CLEANUP REVOLVING LOAN FUND
RHODE ISLAND COMMERCE CORPORATION
The Brownfields Revolving Loan Fund makes financing available to public, private, and non-profit borrowers for the remediation of properties contaminated with hazardous substances so that these properties may be returned to productive use.
DEREGULATION OF COMMERCIAL LINES
RHODE ISLAND COMMERCE CORPORATION
This law exempts qualified commercial insurance lines from specific state review requirements, including filing policy forms, casualty insurance rating requirements and certificate of compliance requirements.
EDUCATIONAL ASSISTANCE AND DEVELOPMENT TAX CREDIT
RHODE ISLAND DEPARTMENT OF REVENUE
Under RIGL 44-42, a contribution to a Rhode Island institution of higher education is allowed a tax credit of 8% for the amount above $10,000. The contribution, which can include qualified tangible personal property, must be for the establishment or maintenance of a faculty chair, department, work fellowship, or program of scientific research or education. The 8% tax credit is applied against the corporate income tax, the bank excise tax or the insurance companies tax. Unused credits may be carried forward up to five years.
ELECTIVE DEDUCTION FOR RESEARCH AND DEVELOPMENT FACILITIES
RHODE ISLAND DIVISION OF TAXATION
In lieu of depreciation or the investment tax credit, a corporation is allowed a one year write-off for expenditures paid or incurred during the taxable year for the construction, reconstruction or acquisition of all qualifying depreciable tangible property, including buildings, which is used or to be used for the purpose of research and development in the experimental or laboratory sense.
EXPORT PROMOTIONAL GRANTS/STATE TRADE EXPANSION PROGRAM (STEP)
RHODE ISLAND COMMERCE CORPORATION
The State Trade Expansion Program (STEP) is a national export initiative which makes matching fund awards to states to assist small businesses in entering and expanding into international markets.
FARM EQUIPMENT AND FARM STRUCTURE CONSTRUCTION MATERIALS EXEMPTION
RHODE ISLAND COMMERCE CORPORATION
The exemption provided in Section 44-18-30(32) applies to the sale (including lease or rental) and to the storage, use or other consumption in this state of machinery and equipment which is used primarily and directly for commercial farming and agricultural production, including but not limited to tractors, plows, harrows, spreaders, seeders, milking machines, silage conveyors, balers, bulk milk storage tanks, trucks with farm plates, mowers, combines, irrigation equipment, greenhouses and greenhouse coverings, graders and packaging machines, tools and supplies and other farming equipment, including replacement parts, appurtenant to or used in connection with commercial farming, as well as tools and supplies used in the repair of such farm machinery and equipment.
The exemption applies if the farm equipment or machinery is used for ancillary uses or is temporarily used for nonfarming or a non-agricultural purpose. However, in order to maintain the exemption, ancillary use or temporary nonfarming or non-agricultural use of any farm equipment and machinery must be less than 50% of the use of the equipment or machinery.
Also exempt is lumber, hardware and other materials used in the new construction of farm structures, including production facilities such as, but not limited to, farrowing sheds, free stall and station barns, milking parlors, silos, poultry barns, laying houses, fruit and vegetable storages, rooting cellars, propagation rooms, greenhouses, packing rooms, machinery storage, seasonal farm worker housing, certified farm markets, bunker and trench silos, feed storage sheds, and any other structures used in connection with commercial farming.
HAZARDOUS WASTE FACILITIES AMORTIZATION
RHODE ISLAND COMMERCE CORPORATION
The Hazardous Waste Facilities Amortization extends the business corporation tax amortization provisions to include tangible personal property for the recycling, reuse or recovery of materials from the treatment of hazardous waste.
HIGH PERFORMANCE MANUFACTURING INVESTMENT TAX CREDIT
RHODE ISLAND DEPARTMENT OF LABOR AND TRAINING
High-performance manufacturers are allowed a 10% investment tax credit against their corporate tax on the cost of qualified lease amounts for tangible personal property or other tangible property, as well as buildings and structural components owned, leased to own or leased for at least 20 years. Unused credits may be carried forward up to 15 years for biotechnology firms and up to seven years for other types of manufacturers.
INCOME APPORTIONMENT
RHODE ISLAND COMMERCE CORPORATION
Select institutions and companies are entitled to apportion net income.
INNOVATE RI FUND
RHODE ISLAND SCIENCE AND TECHNOLOGY ADVISORY COUNCIL
Eligible Rhode Island small businesses may apply for grants to defray the cost of applying for SBIR/STTR awards, match SBIR/STTR Phase I and Phase II awards, and hire interns.
INSURANCE COMPANY RETALIATORY TAX EXEMPTION
RHODE ISLAND COMMERCE CORPORATION
Foreign insurance companies are exempt from gross premiums retaliatory taxes in Rhode Island when their home jurisdiction does not impose a like tax.
INTANGIBLE PERSONAL PROPERTY SALES TAX EXEMPTION
RHODE ISLAND COMMERCE CORPORATION
Sales or transfers of intangible personal property such as stocks, bonds, accounts receivable, money or insurance policies are exempt from the sales tax.
INTERNATIONAL INVESTMENT MANAGEMENT FEE INCOME TAX EXEMPTION
RHODE ISLAND COMMERCE CORPORATION
Companies with at least 500 employees in Rhode Island will not be taxed on fee income derived from international investment management services rendered to investors not domiciled in the U.S. These services include investment advice, investment research, investment consulting, portfolio management, administration or distribution services rendered to or on behalf of non-U.S. persons, and non-U.S. investment funds.
JOBS GROWTH ACT OF 2005: INCOME TAX REDUCTION ON PERFORMANCE-BASED INCOME
RHODE ISLAND COMMERCE CORPORATION
The Jobs Growth Act allows eligible businesses in any industry to offer their employees an exclusion of 50% of performance-based compensation from their Rhode Island gross income. In return, the company pays a 5% tax each year on the performance-based income paid that year.
MAIN STREET: RHODE ISLAND STREETSCAPE IMPROVEMENT FUND
RHODE ISLAND COMMERCE CORPORATION
The Main Street Rhode Island Streetscape Improvement Fund awards grants or loans on a competitive basis for improvements to our commercial districts, such as enhanced sidewalks, new street furniture, new way-finding signage, upgraded building facades, and improved street lighting.
MOTION PICTURE PRODUCTION TAX CREDIT
RHODE ISLAND COMMERCE CORPORATION
The State of Rhode Island provides a transferable 25% tax credit against the corporate or personal income tax for all certified costs (including salaries) associated with Rhode Island primary locations of feature-length film, video, video games, television series, or commercial.
MUSICAL AND THEATRICAL PRODUCTION TAX CREDITS
RHODE ISLAND FILM & TELEVISION OFFICE
Any person, firm, partnership, trust, estate, or other entity that receives an accredited theater production certificate shall be allowed a tax credit equal to twenty-five percent (25%) of the total production and performance expenditures and transportation expenditures for the accredited theater production
NATURAL DISASTER REBUILDING
RHODE ISLAND COMMERCE CORPORATION
Manufacturers who have lost 60% or more of their facilities due to a natural disaster, resulting in the inability of active employees to continue production, may qualify for corporate income tax rate reductions under the Jobs Development Act for jobs retained or added. Damaged businesses may also qualify for a sales tax exemption on reconstruction materials that are not reimbursed by insurance.
NON-MANUFACTURING INVESTMENT TAX CREDITS
RHODE ISLAND DEPARTMENT OF LABOR AND TRAINING
Firms in certain non-manufacturing industries are also able to take the 10% investment tax credit on owned or leased tangible personal property and other tangible property placed in service on or after January 1, 1998.
RENEWABLE ENERGY FUND (REF)
RHODE ISLAND COMMERCE CORPORATION
REF provides grants for renewable energy projects that have the potential to produce electricity in a cleaner, more sustainable manner, while stimulating job growth in the green technology and energy sectors.
RESEARCH AND DEVELOPMENT PROPERTY CREDIT
RHODE ISLAND DIVISION OF TAXATION
A corporation is allowed a 10% tax credit for expenditures paid or incurred for the construction, reconstruction or acquisition of any property which is principally used or to be used for research and development in the experimental or laboratory sense.
RESEARCH AND DEVELOPMENT SALES TAX EXEMPTIONS
RHODE ISLAND DIVISION OF TAXATION
Sales or use of scientific equipment, computers, software and related items to a qualifying firm to be used predominantly for research and development purposes are exempt from Rhode Island Sales and Use Tax.
RI RESEARCH ALLIANCE
RHODE ISLAND SCIENCE AND TECHNOLOGY ADVISORY COUNCIL
The RI Research Alliance awards Collaborative Research Grants through a competitive granting process with the goal of stimulating cutting-edge collaborative research projects across the State’s research institutions.
SLATER TECHNOLOGY FUND
RHODE ISLAND COMMERCE CORPORATION
The Slater Technology Fund was created in 1997 by Governor Lincoln Almond and the Rhode Island General Assembly to stimulate the creation of new technology-based companies in Rhode Island. The Fund is financed annually by the General Assembly, and has proven a highly effective and efficient economic development tool.
SMALL BUSINESS CAPITAL INVESTMENT TAX INCENTIVES
RHODE ISLAND DIVISION OF TAXATION
Small business entities or venture capital partnerships that are certified by the Rhode Island Economic Development Corporation may be eligible for deductions or modifications for investment, capital gain exclusions, and wage credits.
SMALL BUSINESS DEVELOPMENT FUND INVESTMENT FUND TAX CREDIT (SBDF)
RHODE ISLAND COMMERCE CORPORATION
The SBDF program authorizes state tax credits for investment funds and their investors.
SPECIALTY CROP BLOCK GRANT PROGRAM
DEPARTMENT OF ENVIRONMENTAL MANAGEMENT
The RIDEM/Division of Agriculture is pleased to announce the availability of Farm Viability grant funds for the purpose of enhancing the Competitiveness of Specialty Crops grown in Rhode Island.
TAX EXEMPTION OF SALES BY WRITERS, COMPOSERS, AND ARTISTS
RHODE ISLAND DIVISION OF TAXATION
A sales tax exemption for writers, composers, and artists.
TELECOMMUNICATION SALES TAX EXEMPTION
RHODE ISLAND COMMERCE CORPORATION
Regulated investment companies with at least 500 full-time equivalent employees are exempt from the sales and use tax imposed on toll-free terminating telecommunication service. An eligible company is a regulated investment company or a corporation to the extent such service is provided, directly or indirectly, to or on behalf of a regulated investment company, and employee benefit plan, a retirement plan or a pension plan.
South Carolina
ACCELERATED SMALL BUSINESS JOB TAX CREDIT
SOUTH CAROLINA DEPARTMENT OF REVENUE
A job tax credit against South Carolina income tax, bank tax, or insurance premium tax for most types of small businesses creating and maintaining new jobs in South Carolina. This credit is claimed in years 1 through 5, applicable to qualifying taxpayers with 99 or fewer employees worldwide.
Eligibility Requirements
Qualifying taxpayers are those with 99 or fewer employees worldwide who increase employment in South Carolina by two or more full-time jobs.
Qualifying businesses:
- manufacturing facility
- tourism facility
- processing facility
- agricultural packaging facility
- warehousing facility
- distribution facility
- research and development facility
- corporate office facility
- qualifying service-related facility
- agribusiness operation
- extraordinary retail establishment
- qualifying technology intensive facility
- bank
- retail facility (only if located in a Tier IV county)
- service-related industry (only if located in a Tier IV county)
Application Information
The credit is claimed on Form TC-4SA, Alternative Small Business Job Tax Credit.
Additional information available from the South Carolina Department of Revenue.
APPRENTICESHIP CAROLINA PROGRAM
SOUTH CAROLINA TECHNICAL COLLEGE SYSTEM
Companies with registered programs earn a $1,000 South Carolina state tax credit for each registered apprentice employee who works at least seven months during each year.
Eligibility Requirements & Application Information:
Contact the South Carolina Technical College System for more information.
South Carolina Technical College System
111 Executive Center Drive
Columbia, SC 29210
Additional information available from the South Carolina Technical College System.
APPRENTICESHIP CREDIT
SOUTH CAROLINA DEPARTMENT OF REVENUE
South Carolina allows an employer a $1,000 tax credit for each apprentice employed pursuant to an apprentice agreement registered with the Office of Apprenticeship of the Employment and Training Administration of the United States Department of Labor.
Eligibility Requirements
Taxpayers who employ an apprentice may be eligible. To qualify, employees must:
- begin apprenticeships after 2007.
- be employed for at least seven months of the tax year.
- be employed based on an apprentice agreement registered with the US Department of Labor's Office of Apprenticeship of the Employment and Training Administration
Application Information
The credit is claimed on Form TC-45, Apprenticeship Credit.
Additional information available from Apprenticeship Carolina.
CAPITAL INVESTMENT CREDIT
SOUTH CAROLINA DEPARTMENT OF REVENUE
There is allowed an investment tax credit against the tax imposed for any taxable year in which the taxpayer places in service qualified manufacturing and productive equipment property.
Eligibility Requirements
Qualified manufacturing and productive equipment property is any property:
- which is used as an integral part of manufacturing or production, or used as an integral part of extraction of or furnishing transportation, communications, electrical energy, gas, water, or sewage disposal services in this state
- which is tangible property to which IRC Section 168 applies
- which is Section 1245 property (as defined in IRC Section 1245(a)(3))
- which you constructed, reconstructed, or erected in South Carolina or which you acquired if the original use began inside the state
Computer software used to control or monitor a manufacturing or production process inside the state is treated as qualified manufacturing and productive equipment property if depreciation or amortization is allowable.
This credit does not apply to any property to which the other tax credits would apply unless you choose to waive the application of the other credits to the property.
Application Information
To claim the credit, fill out the TC-11 form.
Additional information available from the South Carolina Department of Revenue.
CHILD CARE PROGRAM CREDIT
SOUTH CAROLINA DEPARTMENT OF REVENUE
A taxpayer who employs persons who are residents of this State in any capacity may claim a credit against its state income tax, bank tax, or premium tax liability an amount equal to fifty percent of its capital expenditures in this State but no more than one hundred thousand dollars for costs incurred in establishing a child care program for its employees' children.
Eligibility Requirements
Employers who establish and/or operate a child care program for their employees are eligible for this tax credit.
Allowable startup expenses include:
- playground and classroom equipment
- kitchen appliances and cooking equipment
- real property
- mortgage or lease payments
- first year organization and administration expenses of a program to make direct payments to a facility you do not operate
Allowable expenses also include donations made to a 501(c)(3) nonprofit corporation in South Carolina that provides child care services to the taxpayer's employees. If you make a donation to a nonprofit corporation, you must specify that it is for the child care program. If you take the tax credit for donations made to a nonprofit corporation, you cannot deduct those donations when calculating your South Carolina net income,
Application Information
The credit is claimed on Form TC-9, the Credit for Child Care Program.
Additional information available from the South Carolina Department of Revenue.
COMMUNITY DEVELOPMENT INVESTMENT CREDIT
SOUTH CAROLINA DEPARTMENT OF REVENUE
A taxpayer investing in a certified community development corporation or a community development financial institution is allowed a credit.
Eligibility Requirements
Taxpayers who invest in qualifying community development corporations or financial institutions are eligible.
Application Information
The credit is claimed on Form TC-14, Community Development Tax Credit.
Additional information available from the South Carolina Department of Revenue.
CORPORATE HEADQUARTER CREDIT
SOUTH CAROLINA DEPARTMENT OF REVENUE
The Corporate Headquarters Credit allows a corporation a credit against corporate income tax, corporate license fees, or bank taxes equal to 20% of the qualifying costs of establishing a corporate headquarters in South Carolina, or expanding or adding to an existing corporate headquarters.
Eligibility Requirements
Corporations who establish, expand, or add a corporate headquarters in South Carolina that creates 40 new full-time jobs
Application Information
The credit is claimed on Form TC-8, Corporate Headquarters Credit.
Additional information available from the South Carolina Department of Revenue.
CREDIT FOR STATE CONTRACTORS SUBCONTRACTING WITH SOCIALLY AND ECONOMICALLY DISADVANTAGED SMALL BUSINESSES
SOUTH CAROLINA DEPARTMENT OF REVENUE
A taxpayer having a contract with this State who subcontracts with a socially and economically disadvantaged small business is eligible for an income tax credit equal to four percent of the payments to that subcontractor for work pursuant to the contract.
Eligibility Requirements
The subcontractor must be certified as a socially and economically disadvantaged small business. A taxpayer claiming the credit must maintain evidence of work performed for the contract by the subcontractor. Any payment made to the subcontractor prior to the date of certification by the South Carolina Division of Small and Minority Business Contracting and Certification does not qualify for the credit.
Application Information
The credit is claimed on Form TC-2, Credit for State Contractors Subcontracting with Socially and Economically Disadvantaged Small Business, formerly the Minority Business Credit.
Additional information available from the South Carolina Department of Revenue.
EDUCATIONAL CREDIT FOR EXCEPTIONAL NEEDS CHILDREN'S FUND
SOUTH CAROLINA DEPARTMENT OF REVENUE
Anyone can donate to the Exceptional SC 501(c)(3) scholarship fund, which provides scholarships to exceptional needs students. Individuals and corporations who pay South Carolina taxes can make a donation to Exceptional SC and claim a dollar for dollar tax credit against their overall South Carolina income tax liability (personal corporate income tax).
Eligibility Requirements
Taxpayers who make a qualifying donation to the Educational Credit for Exceptional Needs Children’s Fund (Exceptional SC) may be eligible for this credit.
Application Information
To claim this credit, fill out form TC-57.
Additional information available from the South Carolina Department of Revenue.
ENTERPRISE ZONE RETRAINING CREDIT PROGRAM
SOUTH CAROLINA TECHNICAL COLLEGE SYSTEM
The Enterprise Zone Retraining Program (EZone) offers a tax incentive for companies wanting to remain competitive by introducing new equipment and/or new technology to their facility.
Eligibility Requirements
Eligibility
South Carolina companies engaged in manufacturing, processing or technology intensive activities at manufacturing, processing or technology intensive facilities are eligible to participate.
Employee Qualifications
Full-time production and technology first-line employees and/or immediate supervisors, who meet the following: 1) have been on the company payroll for at least two years; 2) need training on new equipment and/or processes and 3) are offered benefits/healthcare through the company.
Application Information
A full list of required materials and documents are found on the program website.
Additional information available from the SC Technical College System.
FAMILY INDEPENDENCE PAYMENTS CREDIT
SOUTH CAROLINA DEPARTMENT OF REVENUE
The credit for hiring family independence recipient allows a tax credit employers who employ persons who received family independence payments within this state for 3 months immediately before becoming employed.
Eligibility Requirements
In order to qualify for the credit, the employer must make health insurance available to a family independence payment recipient.
Application Information
The employer must submit an employee release and must request in writing certification of family independence eligibility for each of the newly hired employees from the South Carolina Department of Social Services. The employer has until 15 days after the end of its tax year in which the family independence payment recipient is hired to request verification. Department of Social Service Form 12108 is used to request eligibility. The Department of Social Services has 30 days to approve or deny this certification. The employer may not take the credit if another employee was terminated in order to hire the family independence payment recipient.
Form TC-12, Credit for Employers Hiring Recipients of Family Independence Payments, is used to claim the credit.
Additional information available from the South Carolina Department of Revenue.
FIRE SPRINKLER SYSTEM CREDIT
SOUTH CAROLINA DEPARTMENT OF REVENUE
The credit provides that a local taxing entity may allow a taxpayer who installs a new or existing fire sprinkler system that is not required by law, regulation, or code in a new or existing commercial or residential structure, a property tax credit equal to 25% of the direct expenses, not including any fee charged by the utility, against real property taxes levied by a local taxing entity.
Eligibility Requirements
Taxpayers who install a fire sprinkler system in a commercial or residential structure may be eligible for this tax credit.
Application Information
The income tax credit is claimed on Form TC-52, Fire Sprinkler System Credit.
Additional information available from the South Carolina Department of Revenue.
FUNDS FOR RETRAINING AVAILABLE EMPLOYEES FOR AN EXISTING INDUSTRY
SOUTH CAROLINA DEPARTMENT OF COMMERCE
Eligible businesses engaged in manufacturing, processing or technology intensive industry may be eligible for a refund of up to $1,000 per eligible full-time employees per year for retraining costs. details
South Carolina GAP Audit Reimbursement Cost Share Program South Carolina Department of Agriculture South Carolina growers can be reimbursed for SCDA inspection costs and USA fees.
Eligibility Requirements
An eligible employee is a production or technology first line employee or immediate supervisor who has been continuously employed by the company for at least two years. “Technology employee” includes an employee who is directly engaged in the design, development and introduction of new products or innovative manufacturing processes, or both, through the systematic application of scientific and technical knowledge at a technology intensive facility.
Application Information
Contact the South Carolina Department of Commerce for more information.
Additional Information available from the South Carolina Department of Commerce.
INCUMBENT WORKER TRAINING
SOUTH CAROLINA DEPARTMENT OF COMMERCE
Funds may be available to train current employees to meet changing skill requirements due to new technology, restructuring, new product lines and other factors.
Eligibility Requirements & Application Information
Please contact the South Carolina Department of Commerce for more information:
1201 Main Street, Suite 1600
Columbia, SC 29201-3200
Phone: 803-737-0400
[email protected]
Additional information available from the South Carolina Department of Commerce.
JOB DEVELOPMENT CREDIT
SOUTH CAROLINA DEPARTMENT OF COMMERCE
The Job Development Credit effectively uses the personal withholding taxes of new employees to reimburse qualified, approved companies that add value to South Carolina and the community in which they locate.
Eligibility Requirements
To be eligible to apply for the Job Development Credit, a company must:
- Meet the requirements of a manufacturing and processing, corporate office, warehouse and distribution, research and development, agribusiness, tourism, or qualified service-related facility as required for the Jobs Tax Credit;
- Create at least 10 new, full-time jobs (or meet additional requirements if qualifying as a service facility);
- Provide full-time employees with a benefits package that includes a comprehensive health plan and pay at least 50% of an eligible employee’s cost of health plan premiums; and
- Pay a non-refundable $4,000 application fee, receive a positive cost/benefit certification (the project is of greater benefit than cost to the state) from the Coordinating Council, and pay a $500 annual renewal fee.
Please note that the Coordinating Council will generally only allow companies to collect credits for 10 years, and only on new full-time jobs with wages at or above the current county average wage for the county in which the project is located.
Application Information
Please contact the South Carolina Coordinating Council for Economic Development for more information:
1201 Main Street, Suite 1600
Columbia, SC 29201-3200
Phone: 803-737-0400
[email protected]
Additional information available from the South Carolina Department of Commerce.
NEW JOBS CREDIT
SOUTH CAROLINA DEPARTMENT OF REVENUE
There exists a tax credit for employers who create new jobs.
Eligibility Requirements
Certain employers are eligible if they create and maintain 10 or more new full-time jobs. Qualifying businesses include the following:
- manufacturing facility
- tourism facility
- processing facility
- agricultural packaging facility
- warehousing facility
- distribution facility
- research and development facility
- corporate office facility
- qualifying service-related facility
- agribusiness operation
- extraordinary retail establishment
- professional sports team (use the TC-4P)
- qualifying technology intensive facility
- bank
- retail facility (only if located in a Tier IV county)
- service-related industry (only if located in a Tier IV county)
Application Information
To claim this credit, fill out TC-4.
Additional information available from the South Carolina Department of Revenue.
ON-THE-JOB TRAINING
SOUTH CAROLINA DEPARTMENT OF EMPLOYMENT AND WORKFORCE
On-The-Job Training (OJT) offers a solution for businesses that are challenged with hiring, promoting and retaining employees who lack the specialized knowledge to perform their jobs effectively.
Eligibility Requirements
Contact the local workforce area for more details.
Additional information available from the South Carolina Department of Employment and Workforce.
READYSC
SOUTH CAROLINA TECHNICAL COLLEGE SYSTEM
As an integral part of the SC Technical College System, readySC works together with the 16 technical colleges to prepare South Carolina's workforce to meet the needs of businesses.
Eligibility Requirements
To qualify:
- Jobs projected must be permanent.
- Pay represents a competitive wage for the area.
- Benefit package must include health insurance.
- Number of jobs created must be sufficient enough to allow readySC to provide training in a cost-effective manner.
Application Information
Contact readySC for more information.
Additional information available from the South Carolina Technical College System.
RELOCATION GRANT
SOUTH CAROLINA RESEARCH AUTHORITY
The Relocation Grant program is for established, for-profit companies relocating to South Carolina. Relocation assistance is approved on a case-by-case basis and may help to relocation expenses.
Eligibility Requirements
Qualifications:
- Sole proprietorships or individuals working alone are not eligible.
- The company must be either incorporated in South Carolina or registered to conduct business as a foreign corporation in the State of South Carolina as authorized by the Office of the Secretary of State.
- A minimum of fifty percent of the technology employees (engineers and scientists) of the company must be in South Carolina after relocating.
- The company must demonstrate solid profits and strong prospects for technology job growth in South Carolina.
Application Information
Application Process
- Interested applicants should contact the SC Industry Solutions Team to discuss their project.
- For projects that pass initial review, the assigned SCRA Relationship Manager will invite the company to complete an application for funding.
- When all requested documentation is submitted and the project is fully defined, the company will be invited to present its funding request to the SC Industry Solutions Team.
- Following the meeting, the company will receive notification of SCRA's decision and next steps. This typically occurs within one week.
- If approved, awards are typically funded within 30 calendar days after submitting proof of company paid relocation expenses that are approved by SCRA
Contact Information
South Carolina Research Authority
1000 Catawba Street, Suite 100
Columbia, SC 29201
Phone: 843-760-3208
[email protected]
Additional information available from the South Carolina Research Authority.
SECOND LOOK PROGRAM
BUSINESS DEVELOPMENT CORPORATION OF SOUTH CAROLINA
BDC’s Second Look Program allows a small to medium-sized business that has been declined financing for their business to receive a “second look” at a financing request made to a bank for a business loan.
Eligibility Requirements
The program is for small to medium-sized businesses. Please contact the Business Development Corporation for more details.
Application Information
Please contact the Business Development Corporation for more information.
Additional information available from the Business Development Corporation of South Carolina.
SMALL BUSINESS JOB TAX CREDIT
SOUTH CAROLINA DEPARTMENT OF REVENUE
A job tax credit against South Carolina income tax, bank tax, or insurance premium tax for most types of small businesses creating and maintaining new jobs in South Carolina. This credit is claimed in years 2 through 6, applicable to qualifying taxpayers with 99 or fewer employees worldwide.
Eligibility Requirements
Qualifying small businesses with 99 or fewer full-time employees who create and maintain two or more new full-time jobs and operate one of the following:
- manufacturing facility
- tourism facility
- processing facility
- agricultural packaging facility
- warehousing facility
- distribution facility
- research and development facility
- corporate office facility
- qualifying service-related facility
- agribusiness operation
- extraordinary retail establishment
- qualifying technology intensive facility
- bank
- retail facility (only if located in a Tier IV county)
- service-related industry (only if located in a Tier IV county)
Application Information
The credit is claimed on Form TC-4SB, Small Business Job Tax Credit.
Additional information available from the South Carolina Department of Revenue.
SOLAR ENERGY PROPERTY CREDIT
SOUTH CAROLINA DEPARTMENT OF REVENUE
The solar energy property credit is available to taxpayers constructing, purchasing, or leasing solar energy property located in South Carolina and placed in service in this state.
Eligibility Requirements
Taxpayers who construct, purchase, or lease solar energy property on qualifying sites in South Carolina are eligible.
The credit is only available for property located on:
- The Environmental Protection Agency's (EPA) National Priority List
- The EPA's National Priority List Equivalent Sites
- A list of related removal actions as certified by the Department of Health and Environmental Control (DHEC)
- Land subject to a Voluntary Cleanup Contract with DHEC or to corrective action under the Federal Resource Conservation and Recovery Act of 1976
- Land owned by the Pinewood Site Custodial Trust
Application Information
The credit is claimed on Form TC-58, Solar Energy Credit.
Additional information available from the South Carolina Department of Revenue.
SOLAR ENERGY, SMALL HYDROPOWER SYSTEM, OR GEOTHERMAL MACHINERY AND EQUIPMENT CREDIT
SOUTH CAROLINA DEPARTMENT OF REVENUE
A corporate or individual taxpayer who owns a solar energy system or small hydropower system for heating water, space heating, air cooling, energy-efficient daylighting, heat reclamation, energy-efficient demand response, or the generation of electricity in or on a facility in South Carolina can claim an Income Tax credit of 25% of the cost of purchasing and installing that system. The credit for a small hydropower system may be claimed only if the system was installed on or after July 1, 2009.
Eligibility Requirements
Taxpayers who own and install a solar energy system, small hydropower system, or geothermal machinery and equipment used for:
- heating water
- space heating
- air cooling
- energy-efficient daylighting
- heat reclamation
- energy-efficient demand response
- energy generation
Application Information
To claim the credit, complete form TC-38.
Additional information available from the South Carolina Department of Revenue.
SOUTH CAROLINA CAPITAL ACCESS PROGRAM
BUSINESS DEVELOPMENT CORPORATION OF SOUTH CAROLINA
The SC Capital Access Program (SC CAP) lending program is designed to provide financial institutions operating in South Carolina a flexible and non-bureaucratic tool to make business loans that are considered more risky than conventional loans.
Eligibility Requirements
Businesses that may qualify for this loan program are entities that carry on a business activity for profit in South Carolina, including:
- Cooperatives
- Corporations
- Joint Ventures
- Partnerships
- Sole Proprietorships.
Loan qualifications:
- Maximum Amount of Loan: $100,000 + fees
- Number of Employees: Maximum of 50 employees if a manufacturer
- Type of Entity: For-Profit only
- Annual Sales: Retail/Service Business with $2 million or less; Wholesale with $5 million or less; Any other business with $2 million or less
- Terms: Short-Term or Long-Term
- Approval of Loan: Bank
- SBA Guarantee: No, not an SBA program.
Application Information
A full list of required materials and documents are found on the program website.
Additional information available from the Business Development Corporation of South Carolina.
5-YEAR PROPERTY TAX ABATEMENT
SOUTH CAROLINA DEPARTMENT OF COMMERCE
By law, manufacturers (investing $50,000 or more) and distribution or corporate headquarters facilities (investing $50,000 or more and creating 75 new jobs in year 1) are entitled to a five-year property tax abatement from county operating taxes.
ABANDONED BUILDINGS REVITALIZATION CREDIT
SOUTH CAROLINA DEPARTMENT OF REVENUE
A credit is available for the rehabilitation, renovation, or redevelopment of an abandoned building site beginning in 2013.
ACADEMIC STARTUP GRANT
SOUTH CAROLINA RESEARCH AUTHORITY
The Academic Startup Assistance Program (ASAP) is available to for-profit companies sponsored by an academic institution.
ACCELERATION GRANT
SOUTH CAROLINA RESEARCH AUTHORITY
These grants are competitively awarded to South Carolina-based, for-profit companies. Companies must be eligible to be an SC Launch Client Company. A company can receive this grant one time.
ADVANCED ENTREPRENEURSHIP PROGRAM
SOUTH CAROLINA DEPARTMENT OF AGRICULTURE
Our advanced entrepreneurship program, held each year in the late spring, is ACRE’s flagship program that seeks to invest in agricultural entrepreneurship in South Carolina. This competitive program is suited towards agribusinesses of all types that seek funding and mentorship in order to grow or expand their market.
AGRIBUSINESS INCOME TAX CREDIT
SOUTH CAROLINA DEPARTMENT OF REVENUE
Agribusiness operations or agricultural packaging operations that increase their purchases of South Carolina-grown farm products by 15% or more in a calendar year qualify for this credit, which cannot exceed $100,000.
ALTERNATIVE FUEL PROPERTY TAX
SOUTH CAROLINA DEPARTMENT OF REVENUE
For tax years beginning after 2015, a credit is available for a taxpayer who purchases or constructs, installs, and places in service in South Carolina eligible property used for distributing, dispensing, or storing alternative fuel at a new or existing fuel distribution or dispensing facility.
ANGEL INVESTOR CREDIT
SOUTH CAROLINA DEPARTMENT OF REVENUE
South Carolina provides an income tax credit to encourage certain investors (angel investors) to invest in early stage, high growth, and job creating businesses. The credit is 35% of the qualified investment in a qualified business, subject to certain limitations.
ANHYDROUS AMMONIA ADDITIVE CREDIT
SOUTH CAROLINA DEPARTMENT OF REVENUE
South Carolina allows a resident taxpayer in the business of farming a refundable income tax credit equal to the amount expended to obtain the additive required to comply with South Carolina Code.
BIOMASS RESOURCES CREDIT
SOUTH CAROLINA DEPARTMENT OF REVENUE
The Biomass Resources Credit allows a corporation a credit against income taxes or corporate license fees imposed, or both, for 25% of the costs incurred for the purchase and installation of equipment used to create power, heat, steam, electricity, or another form of energy for commercial use from a fuel consisting of 90% or more biomass resource.
BROWNFIELDS VOLUNTARY CLEANUP CREDIT
SOUTH CAROLINA DEPARTMENT OF REVENUE
South Carolina allows a credit against taxes due for costs of voluntary cleanup activity by a nonresponsible party.
CLEAN ENERGY CREDIT
SOUTH CAROLINA DEPARTMENT OF REVENUE
For tax years beginning after 2013, a business or corporation may apply for certification of a nonrefundable credit against income tax in the amount of 10% of its qualifying investment in this State for clean energy operations.
COLD STORAGE COST SHARE PROGRAM
SOUTH CAROLINA DEPARTMENT OF AGRICULTURE
Farmers can receive reimbursements for purchasing and installing up to two (2) Cool-Bot cooler systems.
COMMERCIALS CREDIT
SOUTH CAROLINA DEPARTMENT OF REVENUE
A production company that produces one or more commercial productions with a total base investment greater than $500,000 combined during a calendar year may apply to the South Carolina Department of Revenue for a nonrefundable state income tax credit of 10% of the actual amount invested in South Carolina.
CONSTRUCTION MATERIALS SALES TAX INCENTIVES
SOUTH CAROLINA DEPARTMENT OF REVENUE
Construction materials used in the construction of a single manufacturing or distribution facility with a capital investment of at least $100 million in an 18 month period will be exempt from sales tax.
CORPORATE INCOME TAX MORATORIUM
SOUTH CAROLINA DEPARTMENT OF REVENUE
Companies creating net new jobs in certain of South Carolina’s economically distressed counties will benefit from a corporate income tax moratorium.
CORPORATE TAX MORATORIUM
SOUTH CAROLINA DEPARTMENT OF REVENUE
South Carolina implemented a corporate tax moratorium for corporations who create and maintain at least 100 new full-time jobs at a qualified manufacturing facility.
CREDIT FOR REHABILITATION OF A CERTIFIED HISTORIC STRUCTURE
SOUTH CAROLINA DEPARTMENT OF REVENUE
South Carolina has two similar income tax credits available to taxpayers making historic rehabilitation expenditures in South Carolina. The first credit, rehabilitation of a certified historic structure credit, is available to taxpayers that qualify for the federal rehabilitation credit. The second credit, rehabilitation of a certified historic residential structure credit, is available to individual taxpayers that do not qualify for the federal rehabilitation credit.
DATACENTER MATERIALS SALES TAX EXEMPTION
SOUTH CAROLINA DEPARTMENT OF REVENUE
This statute exempts from sales and use tax computers, computer equipment and computer hardware and software used within a qualifying datacenter; and electricity used by a qualifying datacenter and eligible business property located and used at the qualifying datacenter.
DEMONSTRATION GRANT
SOUTH CAROLINA RESEARCH AUTHORITY
A successful demonstration project will provide a valuable solution to the corporate partner and a significant growth opportunity for a small business and/or academic partner by developing a new product, distribution channel, customer or research.
DRIP/TRICKLE IRRIGATION SYSTEMS CREDIT
SOUTH CAROLINA DEPARTMENT OF REVENUE
There exists an investment tax credit for purchase and installation of certain energy conservation and renewable energy production measures.
ECONOMIC DEVELOPMENT SET-ASIDE PROGRAM
SOUTH CAROLINA DEPARTMENT OF COMMERCE
The Economic Development Set-Aside Program assists companies in locating or expanding in South Carolina through road or site improvements and other costs related to business location or expansion.
ETHANOL OR BIODIESEL PRODUCTION CREDITS
SOUTH CAROLINA DEPARTMENT OF REVENUE
There is allowed a credit against the tax imposed pursuant to this chapter for any corn-based ethanol or soy-based biodiesel facility which is in production at the rate of at least twenty-five percent of its name plate design capacity for the production of corn-based ethanol or soy-based biodiesel, before denaturing, on or before December 31, 2011
EXPORT INCENTIVES PROGRAM
SOUTH CAROLINA DEPARTMENT OF COMMERCE
SC Commerce has developed an Export Incentives Program to assist small and medium-sized businesses entering new markets or wishing to increase their exporting activities.
FEDERAL MATCHING GRANT
SOUTH CAROLINA RESEARCH AUTHORITY
This grant is aimed at supporting SBIR/STTR Phase I awardees to obtain Phase II awards. Other Federal matches will be considered on a case-by-case basis.
FEE-IN-LIEU OF PROPERTY TAXES (FILOT)
SOUTH CAROLINA DEPARTMENT OF COMMERCE
Industries that invest at least $2.5 million in South Carolina may negotiate for a fee-in-lieu of property taxes.
GOVERNOR'S CLOSING FUND
SOUTH CAROLINA DEPARTMENT OF COMMERCE
The Governor’s Closing Fund was created in 2006 to assist when additional funding is necessary to recruit or retain in the state high impact economic development projects.
INDUSTRIAL REVENUE BOND PROGRAM
SOUTH CAROLINA JOBS-ECONOMIC DEVELOPMENT AUTHORITY (JEDA)
The JEDA Industrial Revenue Bond Program is a tax-exempt bond that allows manufacturing facilities, 501(c)(3) organizations and solid waste disposal facilities access to capital markets to finance their economic development related projects.
INDUSTRY PARTNERSHIP FUND TAX CREDIT
SOUTH CAROLINA DEPARTMENT OF REVENUE
South Carolina provides a taxpayer a credit against income taxes, bank taxes, license fees, insurance premium taxes, or any combination of them, for qualified contributions to the Industry Partnership Fund at the South Carolina Research Authority, or designated affiliates, or both.
INFRASTRUCTURE CREDIT
SOUTH CAROLINA DEPARTMENT OF REVENUE
South Carolina's Infrastructure Construction Tax Credit allows a corporation a credit against corporate income tax or bank tax equal to 50% of the contributions or expenses paid or accrued by the taxpayer for the construction or improvement of water lines, sewer lines, and road projects that are eventually dedicated to public use or a qualifying private entity.
MARKET DEVELOPMENT TRADE SHOW AND EDUCATIONAL CONFERENCE COST SHARE
SOUTH CAROLINA DEPARTMENT OF AGRICULTURE
The South Carolina Specialty Crop Growers Association (SCSCGA) and the SCDA are working together to promote the South Carolina specialty crop industry by offering a cost share program that will assist growers in attending domestic trade shows and conferences.
MILK CREDIT
SOUTH CAROLINA DEPARTMENT OF AGRICULTURE
For taxable years beginning after 2004, a refundable credit against Individual or Corporate Income Tax is available to resident taxpayers engaged in the business of producing milk for sale. This refundable credit is based on the amount of milk produced and sold.
MOTION PICTURE CREDIT
SOUTH CAROLINA DEPARTMENT OF REVENUE
South Carolina provides an income tax credit equal to 20% of the investment in a company that constructs, converts, or equips a motion picture production facility or post production facility in South Carolina.
NEW JOBS CREDIT FOR PROFESSIONAL SPORTS
SOUTH CAROLINA DEPARTMENT OF REVENUE
There is a tax credit for professional sports team claiming the credit for creating new jobs in South Carolina.
PLASTICS AND RUBBER MANUFACTURERS CREDIT
SOUTH CAROLINA DEPARTMENT OF REVENUE
There is allowed an investment tax credit for any taxable year in which qualified manufacturing and productive equipment acquired or leased by the taxpayer is placed in service of the taxpayer.
PORT CARGO VOLUME CREDIT
SOUTH CAROLINA DEPARTMENT OF COMMERCE
The port cargo volume credit is available for taxpayers who increase their port cargo volume at South Carolina facilities by at least 5% over their base year port cargo volume in a calendar year.
PORT TRANSPORTATION CREDIT
SOUTH CAROLINA DEPARTMENT OF REVENUE
The Council may award a qualifying taxpayer a port transportation credit for its transportation costs.
PRODUCE SAFETY RULE ON-FARM IMPROVEMENT COST SHARE
SOUTH CAROLINA DEPARTMENT OF AGRICULTURE
Through funding from the USDA Specialty Crop Block Grant, farmers can receive reimbursements up to $2,000 per year, per farm for on-farm food safety improvements.
PROJECT DEVELOPMENT FUND (PDF)
SOUTH CAROLINA RESEARCH AUTHORITY
The Project Development Fund (PDF) provides grants to qualified companies in the SC Launch program that are not affiliated with an academic institution.
RENEWABLE FUEL FACILITY CREDIT
SOUTH CAROLINA DEPARTMENT OF REVENUE
South Carolina allows a taxpayer tax credits for: placing in service property that is used for distributing or dispensing renewable fuels, or constructing a commercial facility that produces renewable fuels repealed effective for facilities.
RESEARCH EXPENSES CREDIT
SOUTH CAROLINA DEPARTMENT OF REVENUE
A taxpayer claiming a federal Income Tax credit for research expenses under Internal Revenue Code (IRC) Section 41 may claim a credit against Individual or Corporate Income Tax and Corporate License Fees.
RURAL MODERNIZATION LOAN PARTICIPATION PROGRAM
BUSINESS DEVELOPMENT CORPORATION OF SOUTH CAROLINA
The Rural Modernization Loan Participation Program, a pilot program, enables small manufacturing businesses in South Carolina obtain term financing to help replace outdated equipment or add additional equipment, ultimately creating and retaining jobs in South Carolina.
SOUTH CAROLINA HOUSING TAX CREDIT
SOUTH CAROLINA DEPARTMENT OF REVENUE
A state tax credit pursuant to this section may be claimed against income taxes and insurance premium and retaliatory taxes to be termed the South Carolina housing tax credit.
SOUTH CAROLINA INDIE GRANTS
SOUTH CAROLINA FILM COMMISSION
The South Carolina Film Commission and Trident Technical College invite South Carolina filmmakers to apply for INDIE GRANTS, production grants for narrative short film projects.
TAXABLE BOND PROGRAM
SOUTH CAROLINA JOBS-ECONOMIC DEVELOPMENT AUTHORITY (JEDA)
The South Carolina Jobs-Economic Development Authority's Taxable Bond Program offers numerous benefits to the borrower and allows JEDA the opportunity to finance new types of enterprises in South Carolina at below Prime rate financing.
TECHNOLOGY INTENSIVE FACILITY SALES TAX EXEMPTION
SOUTH CAROLINA DEPARTMENT OF REVENUE
South Carolina exempts computer equipment and electricity used, and equipment and raw materials to generate, transform, transmit, distribute, or manage electricity for use in connection with a technology intensive facility from the sales and use tax.
TEXTILES REHABILITATION CREDIT
SOUTH CAROLINA DEPARTMENT OF REVENUE
The credit for textiles rehabilitation is available for a taxpayer who rehabilitates, renovates, and redevelops an abandoned textile mill site in South Carolina.
VENISON FOR CHARITY CREDIT
SOUTH CAROLINA DEPARTMENT OF REVENUE
Beginning January 1, 2008, a meat packer, butcher or processing plant that (a) was licensed or permitted by this State or the United States Department of Agriculture, and (b) had a valid contract during the tax year with a nonprofit organization to process deer for donation to a charitable organization engaged in distributing food to the needy, may claim a nonrefundable income tax credit
VENTURE CAPITAL INVESTMENT CREDIT
SOUTH CAROLINA DEPARTMENT OF REVENUE
A taxpayer who lends money to the South Carolina Venture Capital Authority (SCVCA) will receive a certificate for nonrefundable credits for the principal loan amount and required interest.
WATER QUALITY ANALYSIS COST SHARE PROGRAM
SOUTH CAROLINA DEPARTMENT OF AGRICULTURE
Through funding from the USDA Specialty Crop Block Grant, farmers can receive reimbursements for analysis of on farm water inputs for generic E Coli and General Coliform on South Carolina farms.
WATER RESOURCES CREDIT
SOUTH CAROLINA DEPARTMENT OF REVENUE
A taxpayer may claim a credit for twenty-five percent of all expenditures for the construction, installation, or restoration of ponds, lakes, other water impoundments, and water control structures designed for the purposes of water storage for irrigation, water supply, sediment control, erosion control or aquaculture and wildlife management, providing these items are not located in or adjacent to and filled primarily by coastal waters of the State.
WHOLE EFFLUENT TOXICITY TESTING CREDIT
SOUTH CAROLINA DEPARTMENT OF REVENUE
South Carolina allows a manufacturing facility a credit against corporate income tax for 25% of the costs incurred in complying with whole effluent toxicity testing.
South Dakota
MICROLOAN SOUTH DAKOTA
SOUTH DAKOTA GOVERNOR'S OFFICE OF ECONOMIC DEVELOPMENT
This program provides small businesses a loan for working capital, equipment, real estate or other fixed-asset project costs.
Eligibility Requirements
Loans can be made available to small businesses within the borders of South Dakota and South Dakota residents, including main street and retail operations for working capital, equipment, real estate or other fixed asset project costs.
Applicants must have a primary bank or credit union in place, that agrees with the Loan Purchase Agreement, prior to applying to the South Dakota MicroLOAN Fund.
Application Information
The MicroLOAN application must be completed and submitted to the Office of Economic Development with a cover letter from the primary bank or credit union. The primary bank or credit union must agree to the Loan Purchase Agreement. The application must include the primary bank or credit union credit analysis, including personal financial statements for applicant(s) and any guarantors, and the terms of the bank or credit union participation.
Additional information available from the South Dakota Governor's Office of Economic Development.
REINVESTMENT PAYMENT PROGRAM
SOUTH DAKOTA GOVERNOR'S OFFICE OF ECONOMIC DEVELOPMENT
The program allows for project owners to receive a reinvestment payment, not to exceed the South Dakota sales and use tax paid on project costs, for new or expanded facilities.
Eligibility Requirements
Companies pursuing new or expanded facilities with a total project cost in excess of $20,000,000 or equipment upgrades with a total project cost in excess of $2,000,000 are eligible to apply to the Board of Economic Development for a reinvestment payment under this program. One of the key criteria considered by the board when approving or denying an application is the likelihood the project would have occurred without the reinvestment payment. Reinvestment payments are intended for projects that would not have occurred without the payment.
The following projects are not eligible for a reinvestment payment:
- Buildings or structures used predominantly for the sale of products at retail, other than the sale of electricity at retail, to individual consumers;
- Buildings or structures used predominantly for residential housing or transient lodging;
- Buildings or structures used predominantly to provide health care services;
- Buildings or structures used predominantly for the transportation or transmission of natural gas, oil, or crude oil by means of a pipeline; or
- Buildings or structures that are not subject ad valorem real property taxation or equivalent taxes measured by gross receipts.
Application Information
Submit the application to the program contact. The application must be completed and submitted no later than 90 days after construction or installation of equipment begins.
SBA 504
SOUTH DAKOTA DEVELOPMENT CORPORATION
The SBA 504 loan program offers subordinated, fixed rate financing to healthy and expanding small businesses.
Eligibility Requirements
Loans are available for owner occupied commercial real estate and other fixed assets. For-profit businesses, including retail operations and approved franchises are eligible for the loans.
Application Information
Submit the application and required materials to the program manager. The program website outlines the additional required materials.
Additional information available from the South Dakota Development Corporation.
SOUTH DAKOTA JOBS GRANT PROGRAM
SOUTH DAKOTA GOVERNOR'S OFFICE OF ECONOMIC DEVELOPMENT
The Board of Economic Development may provide grants to assist companies in offsetting the upfront costs associated with relocating or expanding operations and/or upgrading equipment in South Dakota.
Eligibility Requirements
Companies pursuing new or expanded facilities with a total project cost of less than $20,000,000 or equipment upgrades with a total project cost of less than $2,000,000 are eligible to apply to the Board of Economic Development for a South Dakota Jobs Grant under this program. One of the key criteria considered by the board when approving or denying an application is the likelihood the project would have occurred without the South Dakota Jobs Grant. South Dakota Jobs Grants are intended for projects that would not have occurred without the grant. The following projects are not eligible for a South Dakota Jobs Grant:
- Buildings or structures used predominantly for the sale of products at retail, other than the sale of electricity at retail, to individual consumers;
- Buildings or structures used predominantly for residential housing or transient lodging;
- Buildings or structures used predominantly to provide health care services;
- Buildings or structures used predominantly for the transportation or transmission of natural gas, oil, or crude oil by means of a pipeline; or
- Buildings or structures that are not subject ad valorem real property taxation or equivalent taxes measured by gross receipts.
Application Information
The application must be completed and submitted no later than 90 days after construction or installation of equipment begins. Submit application package to the program contact.
Additional information available from the South Dakota Governor's Office of Economic Development.
SOUTH DAKOTA WORKS
SOUTH DAKOTA GOVERNOR'S OFFICE OF ECONOMIC DEVELOPMENT
This program provides low interest financing to small businesses.
Eligibility Requirements
Eligible Borrowers:
- Businesses seeking new financing
- Certified Community Development Financial institutions
Eligible Use of Funds:
For business purposes including start up costs, working capital, payroll, inventory needs and interim construction loans.
Ineligible uses of funds include:
- Purchasing, constructing, renovating, or tenant improvements of an eligible place of business that is for passive real estate investment
- Refinancing
- Repaying delinquent federal or state income taxes
- Repaying taxes held in trust or escrow
Application Information
Please contact agency for details.
Additional information available from the South Dakota Governor's Office of Economic Development.
STARTTODAYSD
U.S. DEPARTMENT OF LABOR'S REGISTERED APPRENTICESHIP SYSTEM
StartTodaySD connects job seekers looking to learn new skills with employers looking for qualified workers, resulting in a workforce with industry-driven training and employers with a competitive edge.
Eligibility Requirements
Business and new apprentice must coordinate with DLR at least two to four weeks BEFORE the start of RAP training.
Business will submit verifying documentation to DLR of active apprentice(s) in their RAP.
Application Information
See website for more details.
Additional information available from the South Dakota Department of Labor.
WORKFORCE DEVELOPMENT TRAINING PROGRAM
SOUTH DAKOTA GOVERNOR'S OFFICE OF ECONOMIC DEVELOPMENT
Through matching grants, the Workforce Development Program funds industry-education partnerships through which customized training programs and short-term, job-specific training is delivered. The Workforce Development Program supports up to one-half of the total eligible training costs.
Eligibility Requirements
Companies must meet the following criteria to participate in the program:
- All training must be technical in nature
- New employee training must be the result of growth in the company, not attrition
- The wage of the employees before the training begins must be at least $15.00 per hour
- Current employee trainees must receive an increase in their wages that is directly attributed to the training
- Companies must offer employees health insurance that is at least partially paid by the employer
For new employee training, positions for training must be new positions created by a new company or the expansion of an existing company.
For current employee training, the training project needs to be out-of-the-ordinary training, beyond what is needed in the normal course of business, and trainees must receive an increase in their wages as the result of the training.
Trainees must work from the company's South Dakota location. Companies must be considered a key industry of the Office of Economic Development in order to apply for the program. The list of key industries is listed in the program policy.
Application Information
The application must be completed and submitted at least three weeks before training is scheduled to begin. The application must contain the following:
- Business and project information
- Budget detail
- Program narrative
AGRIBUSINESS BONDING PROGRAM
SOUTH DAKOTA GOVERNOR'S OFFICE OF ECONOMIC DEVELOPMENT
The Value Added Finance Authority (the Authority) issues tax-exempt bonds and/or notes which the borrower may sell and use the proceeds to finance qualified projects that meet state and federal requirements. The borrower pays the interest and principal directly back to the purchaser or Trustee.
BEGINNING FARMER BOND PROGRAM
SOUTH DAKOTA GOVERNOR'S OFFICE OF ECONOMIC DEVELOPMENT
The South Dakota Beginning Farmer Bond Program (SDBFBP) is a tax-exempt bond program designed to assist Beginning Farmers in the state of South Dakota to acquire agricultural property at lower interest rates.
BOND FINANCING
SOUTH DAKOTA GOVERNOR'S OFFICE OF ECONOMIC DEVELOPMENT
This program provides companies access to larger capital markets for tax-exempt or taxable bond issuances. The program can fund projects individually or pool them to help lower the cost of the bond issuance.
DAKOTA SEEDS
SOUTH DAKOTA GOVERNOR'S OFFICE OF ECONOMIC DEVELOPMENT
Dakota Seeds is an innovative internship program that connects students with employers as a way to help fill temporary workforce needs and establish a pipeline for future permanent employment.
ECONOMIC DEVELOPMENT PARTNERSHIP PROGRAM
SOUTH DAKOTA GOVERNOR'S OFFICE OF ECONOMIC DEVELOPMENT
The Economic Development Partnership Program provides grants to non-profit development corporations, tribal governments, municipalities, counties, or other political subdivisions of this state on a matching basis.
LIVESTOCK LOAN PARTICIPATION
SOUTH DAKOTA GOVERNOR'S OFFICE OF ECONOMIC DEVELOPMENT
The Livestock Loan Participation Program is designed to enable farmers and ranchers with limited equity to procure livestock loans at rates and terms which the applicant can reasonably be expected to meet and thereby utilize available feed, facilities, labor, and management skills.
LIVESTOCK NUTRIENT MANAGEMENT BOND
SOUTH DAKOTA GOVERNOR'S OFFICE OF ECONOMIC DEVELOPMENT
This program offers tax-exempt industrial revenue bond financing for processing or manufacturing and qualified environmental facilities
LOCAL INFRASTRUCTURE IMPROVEMENT PROGRAM
SOUTH DAKOTA GOVERNOR'S OFFICE OF ECONOMIC DEVELOPMENT
The Local Infrastructure Improvement Program provides grants to local development corporations, tribal governments, municipalities, counties, or other political subdivisions to construct or reconstruct public infrastructure associated with an economic development project.
PROOF OF CONCEPT FUND
SOUTH DAKOTA GOVERNOR'S OFFICE OF ECONOMIC DEVELOPMENT
The Proof of Concept Fund is a loan program that will provide up to $25,000 investments for eligible applicants to conduct research demonstrating the technical and economic feasibility of an innovation significantly enhancing the likelihood of commercialization of the innovation.
REVOLVING ECONOMIC DEVELOPMENT AND INITIATIVE (REDI) FUND
SOUTH DAKOTA GOVERNOR'S OFFICE OF ECONOMIC DEVELOPMENT
The Revolving Economic Development and Initiative (REDI) Fund is a low-interest loan fund available to start-up firms, businesses that are expanding or relocating, and local economic development corporations.
RURAL DEVELOPMENT AGRICULTURAL LOAN PARTICIPATION
SOUTH DAKOTA GOVERNOR'S OFFICE OF ECONOMIC DEVELOPMENT
The program participates with banks and borrowers to assist financing capital expenses associated with value-added production, or processing projects. The program can lend up to 80% of the total loan up to $500,000.
TRANSPORTATION ECONOMIC DEVELOPMENT GRANTS
SOUTH DAKOTA DEPARTMENT OF TRANSPORTATION
The South Dakota Department of Transportation developed a grant program to foster economic development and enhance community access in South Dakota.
VALUE ADDED AGRIBUSINESS RELENDING PROGRAM
SOUTH DAKOTA GOVERNOR'S OFFICE OF ECONOMIC DEVELOPMENT
The Value Added Agribusiness Relending Program offers financial assistance to South Dakota farmers and ranchers as well as value-added businesses.
VALUE-ADDED AGRICULTURE SUBFUND
SOUTH DAKOTA GOVERNOR'S OFFICE OF ECONOMIC DEVELOPMENT
This program is a $3 million fund created specifically for feasibility studies and marketing of value-added agricultural projects.
VALUE-ADDED LIVESTOCK UNDERWRITING (VALU) GUARANTY
SOUTH DAKOTA GOVERNOR'S OFFICE OF ECONOMIC DEVELOPMENT
The VALU Guaranty Program is designed to enable farmers and ranchers of limited equity to procure livestock loans and thereby utilize their available feed, facilities, labor, and management skills. The VALU Guaranty Program is not a direct loan, but a guarantee of up to 50% on a livestock purchase loan through a local lender.
Tennessee
COMMUNITY RESURGENCE JOBS TAX CREDIT
TENNESSEE DEPARTMENT OF REVENUE
The Community Resurgence Jobs Tax Credit is an additional credit that may be claimed against franchise and excise tax when ten or more jobs are created in a high-poverty area. Businesses can get a credit of $2,500 per each position.
Eligibility Requirements
For more information see the website.
Application Information
Application Link
Additional information available from the Tennessee Department of Revenue.
ENERGY EFFICIENCY AND RENEWABLE ENERGY LOAN PROGRAM
PATHWAY LENDING
The Pathway Lending Energy Efficiency Loan Program (EELP), a low-interest revolving loan fund, launched in 2010 to assist Tennessee for-profit and not-for-profit commercial and industrial businesses in implementing energy efficiency and renewable energy improvements. In January 2016, EELP was expanded to offer financing to local government entities, including municipalities, counties, school districts, and other public agencies. Pathway Lending, a US Treasury certified community development financial institution, oversees the $29 million revolving loan fund, which is comprised of loan capital provided by the State / TDEC Office of Energy Programs ($14 million), the Tennessee Valley Authority ($10 million), and Pathway Lending ($5 million). Eligible projects under EELP include, but are not limited to: energy efficient equipment upgrades; lighting; building envelope retrofits; cool roofs; renewable energy installations; and co-generation.
Application Information:
See Pathway Lending site. Energy Efficiency & Renewable Energy Resources (pathwaylending.org)
Additional information available from the Tennessee Department of Environment & Conservation.
FASTTRACK ECONOMIC DEVELOPMENT FUND
TENNESSEE DEPARTMENT OF ECONOMIC AND COMMUNITY DEVELOPMENT
FastTrack Economic Development Program offers grants or loans for equipment and other expenses related to businesses' relocation and expansion.
Eligibility Requirements
Only used in exceptional cases where a company’s impact, such as net new full-time positions and capital investment, in a community is significant. These funds are available subject to terms of the Accountability Agreement executed by the state, community and company. TNECD is not able to provide incentives prior to the execution and approval of a contract.
Application Information
Please contact ECD for more information.
Tennessee Department of Economic and Community Development
312 Rosa L. Parks Avenue, Eleventh Floor
Nashville, TN, TN 37243
Phone: (615) 741-1888
Fax: (615) 741-5829
[email protected]
FASTTRACK JOB TRAINING ASSISTANCE PROGRAM (FJTAP)
TENNESSEE DEPARTMENT OF ECONOMIC AND COMMUNITY DEVELOPMENT
Grant assisting new or expanding companies with funding to support the training of net new full-time employees
Eligibility Requirements
Funding levels are based on the number of net new full-time positions created, amount of capital invested, wages of new employees and the types of skill and knowledge levels required. TNECD is not able to provide training incentives for any positions filled prior to the execution and approval of a contract.
Application Information
Please contact ECD for more information.
Tennessee Department of Economic and Community Development
312 Rosa L. Parks Avenue, Eleventh Floor
Nashville, TN, TN 37243
Phone: (615) 741-1888
Fax: (615) 741-5829
[email protected]
HEADQUARTERS TAX CREDIT
TENNESSEE DEPARTMENT OF ECONOMIC AND COMMUNITY DEVELOPMENT
A taxpayer who establishes a qualified headquarters facility in this state shall be eligible for a credit of all state sales or use taxes paid to the state of Tennessee, except tax at the rate of one-half percent (0.5%), on the sales or use of qualified tangible personal property.
Eligibility Requirements
A "qualified headquarters facility" means a regional, national or international headquarters facility where the taxpayer has made a minimum investment of either:
1) $50 million in a headquarters building or buildings, newly constructed, expanded or remodeled during the investment period, or
2) $10 million in a headquarters facility and the creation of 100 new full-time jobs paying at least 150% of Tennessee's average occupational wage during the investment period.
The minimum investment may include, but is not limited to, the purchase price of an existing building and the cost of building materials, labor, equipment, furniture, fixtures, computer software, parking facilities and landscaping, but shall not include land or inventory.
Application Information
(1) A taxpayer seeking this credit shall first submit to the commissioner of revenue an application to qualify as a headquarters facility, together with a plan describing the investment to be made, and, if applicable, documentation verifying employment and wage information. In the case of a leased facility, the lessor shall also file an application and plan, if any taxes paid by the lessor are to be claimed as part of the credit provided in subsection (a). The application and plan shall be submitted on forms prescribed by the commissioner and shall demonstrate that the requirements of the law will be met.
(2) After approval of the application and business plan, the commissioner shall issue a letter to the taxpayer stating that the taxpayer has tentatively met the requirements for the credit provided for in this section.
(3) In order to receive the credit, the taxpayer must submit a claim for credit, along with documentation as required by the commissioner showing that Tennessee sales or use taxes have been paid to the state on qualified tangible personal property. The taxpayer's claim for credit of sales or use taxes paid to Tennessee may include such taxes paid by the taxpayer, lessor, in the case of a leased facility, contractors, and subcontractors on sales or use of qualified tangible personal property. Documentation verifying that the minimum investment requirements have been met shall include, but are not limited to, employment records, invoices, bills of lading, lease agreements, contracts, and all other pertinent records and schedules as required by the commissioner.
(4) The commissioner shall review the claim for credit, and notify the taxpayer of the approved tax credit amount and provide direction for taking the credit. The taxpayer may not take the credit until the commissioner has notified the taxpayer of the amount approved and provided direction to the taxpayer on the proper methodology for taking the credit. The credit may only be taken by the taxpayer establishing the qualified headquarters facility.
For more information please contact the Tennessee Department of Revenue.
Department of Revenue
500 Deaderick Street
Nashville, TN 37242
Phone: (615) 741-3810
Additional information available from the Tennessee Department of Revenue.
JOBS TAX CREDIT
TENNESSEE DEPARTMENT OF ECONOMIC AND COMMUNITY DEVELOPMENT
The tax incentive provides qualified business enterprises a credit against their franchise and excise taxes based on their capital investment and the number of jobs created.
Eligibility Requirements
Qualified Business Enterprises include:
1) Manufacturing
2) Processing tangible personal property
3) Computer services
4) Headquarters facility
5) Aircraft repair service facility
6) Warehousing and distribution
7) Research and development
8) Call center
9) Convention or trade show facility
10) Tourism related businesses
11) Promotes high skill, high wage jobs in high technology area, emerging occupations, or skilled manufacturing
12) Back office operations
13) High poverty area.
Application Information
Taxpayers must submit a Job Tax Credit Business Plan and receive tentative approval from the Department before any credit may be taken. Records and Recommended Documentation should be maintained for verification purposes. Schedules are available to assist taxpayers with maintaining this information.
For more information contact the Tennessee Department of Economic & Community Development.
Department of Economic & Community Development
312 Rosa L. Parks Avenue
Nashville, TN, TN 37243
Phone: (615) 741-1888
Additional information available from the Tennessee Department of Revenue.
MANUFACTURING SALES TAX EXEMPTION
TENNESSEE DEPARTMENT OF ECONOMIC AND COMMUNITY DEVELOPMENT
Sales tax exemption for industrial machinery and reduced sales tax rate for utilities at qualified manufacturing facilities.
Eligibility Requirements
For more information see the website.
Application Information
WAREHOUSE/DISTRIBUTION SALES TAX EXEMPTION
TENNESSEE DEPARTMENT OF REVENUE
Sales tax exemption for material handling and racking systems purchased for a qualified warehouse or distribution center.
Eligibility Requirements
For more information see the website.
Application Information
Application Link
AERONAUTICS GRANTS
TENNESSEE DEPARTMENT OF TRANSPORTATION
The Tennessee Department of Transportation (TDOT) Aeronautics Division administers federal and state funding to assist in the location, design, construction and maintenance of Tennessee's diverse public aviation system.
BRIDGE GRANTS
TENNESSEE DEPARTMENT OF TRANSPORTATION
The Bridge Grant Program was established to assist local governments with the replacement or rehabilitation of deficient bridges under their jurisdiction. Since the inception of the original program in 1982, local governments, in partnership with the state, have replaced over 2,800 bridges utilizing Bridge Grant funds.
CALL CENTERS SALES TAX EXEMPTION
TENNESSEE DEPARTMENT OF ECONOMIC AND COMMUNITY DEVELOPMENT
Tax exemption on any sales of interstate telecommunication and international telecommunication services sold to a business for use in the operation of one or more qualified call centers.
CERTIFIED GREEN ENERGY PRODUCTION FACILITY TAX CREDIT
TENNESSEE DEPARTMENT OF REVENUE
As part of a comprehensive energy strategy, Tennessee offers certified green energy supply chain manufacturers and campus affiliates, integrated customers, and integrated suppliers of a certified green energy supply chain manufacturers a Green Energy Tax Credit against the total F&E liability.
DATA CENTER TAX EXEMPTION
TENNESSEE DEPARTMENT OF REVENUE
Sales tax exemption for certain hardware and software purchased for a qualified data center.
ENHANCED JOB TAX CREDIT
TENNESSEE DEPARTMENT OF REVENUE
This program provides for Enhanced Job Tax Credits to businesses locating or expanding in certain Tennessee counties considered Tier 2 or Tier 3 Enhancement Counties.
FASTTRACK INFRASTRUCTURE DEVELOPMENT PROGRAM (FIDP)
TENNESSEE DEPARTMENT OF ECONOMIC AND COMMUNITY DEVELOPMENT
FastTrack Infrastructure Development Program (FIDP) funds may be used for infrastructure improvements. Funds may not be used for speculative projects
INDUSTRIAL MACHINERY TAX EXEMPTION
TENNESSEE DEPARTMENT OF ECONOMIC AND COMMUNITY DEVELOPMENT
Tennessee allows for an exemption of sales tax on industrial machinery purchased by a qualified manufacturer or processor.
INTERNSHIP PROGRAM
LAUNCH TENNESSEE
The Internship Program gives students an opportunity to work with a growing startup or ecosystem builder in Tennessee. Our alumni consistently share that the diverse experiences and relationships they develop in the summer program are memorable, enjoyable, and highly relevant to anyone pursuing an innovative career path.
LITTER GRANTS
TENNESSEE DEPARTMENT OF TRANSPORTATION
In order to address the litter problem in Tennessee, a specialty tax on the malt beverage and soft drink industry funds the Tennessee Litter Grant Program.
MULTIMODAL ACCESS GRANTS
TENNESSEE DEPARTMENT OF TRANSPORTATION
Tennessee Department of Transportation's Multimodal Access Grant is a new, state-funded program created to support the transportation needs of transit users, pedestrians and bicyclists through infrastructure projects that address existing gaps along state routes.
POLLUTION CONTROL EQUIPMENT TAX CREDIT
TENNESSEE DEPARTMENT OF REVENUE
A tax credit of the sales and use tax paid to any system, method, improvement, structure, device, or appliance that is used to bring the purchaser into compliance with federal, state, or local pollution control laws or regulations.
REDUCED TAX ON ELECTRICITY
TENNESSEE DEPARTMENT OF REVENUE
Tennessee offers a reduced sales tax rate on manufacturers' use of energy fuels and water.
RESEARCH AND DEVELOPMENT SALES TAX EXEMPTION
TENNESSEE DEPARTMENT OF ECONOMIC AND COMMUNITY DEVELOPMENT
Sales tax exemption on certain equipment used in research and development.
STATE INDUSTRIAL ACCESS ACT
TENNESSEE DEPARTMENT OF TRANSPORTATION
The State Industrial Access (SIA) Program provides funding and technical assistance for highway access to new and expanding industries across the state.
TENNESSEE ENTERTAINMENT COMMISSION PRODUCTION INCENTIVE
TENNESSEE FILM, ENTERTAINMENT & MUSIC COMMISSION
A 25% grant on qualified Tennessee expenditures to production companies filming within Tennessee.
TENNESSEE HIGHWAY SAFETY OFFICE GRANTS
TENNESSEE DEPARTMENT OF TRANSPORTATION
The Tennessee Highway Safety Office provides grants to programs which are designed to reduce the number of fatalities, injuries and related economic losses resulting from traffic crashes on Tennessee’s roadways. Local governments, law enforcement agencies, academic institutions, and private non-profits can apply for National Highway Safety Transportation Administration pass-through funding for projects related to various areas of highway safety. Eligible project areas are included in the State of Tennessee’s Highway Safety Performance Plan.
TNINVESTCO PROGRAM
TENNESSEE DEPARTMENT OF ECONOMIC AND COMMUNITY DEVELOPMENT
The program allocates tax credits to venture capital funds with broad experience in developing new companies in Tennessee. Those funds would market the tax credits to insurance companies which would purchase the credits with capital reserves and the venture funds would use the capital to help Tennessee companies grow.
Texas
EMISSIONS REDUCTION INCENTIVE GRANTS (ERIG) PROGRAM
TEXAS COMMISSION ON ENVIRONMENTAL QUALITY
The Emissions Reduction Incentive Grants (ERIG) Program offers grants to upgrade or replace on-road and non-road equipment, stationary equipment, marine vessels, locomotives, on-vehicle electrification and idle reduction infrastructure, and rail relocation and improvement projects.
Eligibility Requirements
Eligible Applicants:
- Any person who operates or plans to operate on-road heavy-duty equipment, non-road equipment, or stationary engines primarily in one or more of the nonattainment areas or other eligible counties of the state is potentially eligible for a grant. For infrastructure projects, persons owning or operating the infrastructure in an eligible county may also be eligible for funding
- Eligible applicants include individuals, corporations, organizations, governments or governmental subdivisions or agencies, business trusts, partnerships, associations, or any other legal entity
- Eligible applicants must also have the legal authority to dispose of the equipment being replaced in accordance with the requirements outlined in Section 3.0 of the RFGA
Application Information
To download and complete the application for the program and the W-9, see the Texas Commission on Environmental Quality's website.
Additional information available from the Texas Commission on Environmental Quality.
LIGHT-DUTY MOTOR VEHICLE PURCHASE OR LEASE INCENTIVE PROGRAM
TEXAS COMMISSION ON ENVIRONMENTAL QUALITY
The Light-Duty Motor Vehicle Purchase or Lease Incentive Program (LDPLIP) provides rebates statewide to persons who purchase or lease an eligible new light-duty motor vehicle powered by compressed natural gas (CNG), liquefied petroleum gas (LPG), or hydrogen fuel cell or other electric drive (plug-in or plug-in hybrid).
Eligibility Requirements
Eligible applicants are individuals, corporations, organizations, governments, or governmental subdivisions or agencies, business trusts, partnerships, or any other legal entity.
TCEQ will award LDPLIP grants on a first-come, first-served basis to purchase or lease a new light-duty motor vehicle that operates using the following alternative fuels:
- compressed natural gas
- liquified petroleum gas (propane)
- hydrogen fuel cell
- electric drive (plug-in or plug-in hybrid)
Application Information
To review the application instructions and download and complete the application and/or reservation form, see the Texas Commission on Environmental Quality.
Additional information available from the Texas Commission on Environmental Quality.
MANUFACTURING TAX EXEMPTIONS
TEXAS COMPTROLLER OF PUBLIC ACCOUNTS
State sales and use tax exemptions are available to taxpayers who manufacture, fabricate or process tangible personal property for sale.
Application Information
If a taxpayer qualifies as a manufacturer, they can give a properly completed Form 01-339 (back), Texas Sales and Use Tax Exemption Certificate (PDF) to their vendor instead of paying tax on qualifying manufacturing equipment, material and supplies.
The exemption certificate must include the following:
- the purchaser’s name and address;
- a description of the item to be purchased;
- the reason the purchase is exempt from tax;
- the purchaser’s signature and the date; and
- the seller’s name and address.
Additional information available from the Texas Comptroller of Public Accounts.
NEW TECHNOLOGY IMPLEMENTATION GRANT (NTIF) PROGRAM
TEXAS COMMISSION ON ENVIRONMENTAL QUALITY
The NTIG program provides grants to assist in the implementation of new technologies to reduce emissions of regulated pollutants from stationary sources.
Eligibility Requirements
Applicants must be the owner of a facility located in the state of Texas, and provide evidence of operational control and compliance with all applicable Texas laws.
Eligible Project Categories:
- Electricity Storage
- Advanced Clean Energy
- New Technology-Stationary Sources
- New Technology-Oil and Gas Projects
Application Information
To download and complete the application and W-9 form, see the Texas Commission on Environmental Quality website.
Additional information available from the Texas Commission on Environmental Quality.
SKILLS FOR SMALL BUSINESS
TEXAS WORKFORCE COMMISSION
Skills for Small Business finances tuition and fees for community and technical college courses for current and newly hired employees of small businesses (fewer than 100 employees) in Texas, successfully merging small business needs and local training opportunities into a winning formula for putting people to work in Texas.
Eligibility Requirements
All training must be provided by a public community or technical college, or TEEX. No third-party vendor training is allowed. Training must be selected from active course catalogs/schedules - credit, continuing education, online or other available unpublished courses. Training may focus on occupations within the Governor's six targeted industry clusters: Aerospace and Defense; Advanced Technologies and Manufacturing; Biotechnology and Life Science; Energy; Petroleum Refining and Chemical Products; and Information and Computer Technology. Training may also be emphasized for occupations targeted by Workforce Development Boards. Employers must pay the prevailing wages in the local labor market for the trainees funded under the grant.
Application Information
A full list of required materials and documents are found on the program website.
Additional information available from the Texas Workforce Commission.
TEXAS CLEAN FLEET PROGRAM (TCFP)
TEXAS COMMISSION ON ENVIRONMENTAL QUALITY
The Texas Clean Fleet Program (TCFP) provides grants to encourage an entity that has a fleet of diesel-powered vehicles to replace them with alternative fuel or hybrid vehicles.
Eligibility Requirements
An individual, or entity with a fleet of 75 or more vehicles that are registered in Texas.
An applicant must submit a minimum of 10 vehicles for replacement in an application.
Application Information
Applications will be evaluated, scored, and ranked based upon the cost effectiveness of the project, the projected amount of NOx reduced, and the location of the project.
- Projects with the lowest cost per ton of NOx reduced, as compared to all other projects, will receive the most points in that scoring category (up to 50 points).
- Projects with the highest projected NOx reductions (tons of NOx), as compared to all other projects, will receive the most points in that scoring category (up to 30 points).
- Applicants that will operate vehicles at least 75% of total annual miles in the following nonattainment areas will receive up to 20 points.
- Houston-Galveston-Brazoria Area
- Dallas-Fort Worth Area
- San Antonio Area (Bexar County Only)
- El Paso County
Additional information available from the Texas Commission on Environmental Quality.
AGRICULTURAL AND TIMBER TAX EXEMPTIONS
TEXAS COMPTROLLER OF PUBLIC ACCOUNTS
Farmers, ranchers and timber producers can claim exemptions from some Texas taxes when purchasing certain items used exclusively to produce agricultural and timber products for sale.
AGRICULTURAL LOAN GUARANTEE PROGRAM
TEXAS DEPARTMENT OF AGRICULTURE
The Texas Agricultural Finance Authority (TAFA) Agricultural Loan Guarantee Program (ALG) provides assistance in the form of guarantees based on a tiered structure, not to exceed $500,000 or 80% of the loan amount, whichever is less.
ALTERNATIVE FUELING FACILITIES PROGRAM (AFFP)
TEXAS COMMISSION ON ENVIRONMENTAL QUALITY
The Alternative Fueling Facilities Program provides grants for eligible alternative fuel fueling facility projects in the Clean Transportation Zone.
CANCER PREVENTION AND RESEARCH GENERAL OBLIGATION BONDS
CANCER PREVENTION & RESEARCH INSTITUTE OF TEXAS
On November 6, 2007, Texas voters approved Proposition 15 - HJR 90, the constitutional amendment which allows the State of Texas to establish the Cancer Prevention and Research Institute of Texas (the Institute) and allows the Institute to issue $3 billion in general obligation bonds over ten years to fund grants for cancer research and prevention.
CAPITAL ACCESS PROGRAM
OFFICE OF THE TEXAS GOVERNOR
The Capital Access Program (CAP) is a partnership between the State of Texas and selected non-profit lenders to increase access to financing for small and medium-sized businesses and non-profits which face barriers to accessing capital or fall outside of guidelines of conventional lending.
ECONOMIC DEVELOPMENT & DIVERSIFICATION IN-STATE TUITION FOR EMPLOYEES
OFFICE OF THE TEXAS GOVERNOR
Economic Development & Diversification In-State Tuition for Employees is a program that allows employees - and those employees' family members - of a qualified business considering a relocation or expansion of its operations in the State of Texas to pay in-state tuition rates at public institutions of higher education in the state without first establishing residency.
ENTERPRISE ZONE PROGRAM (EZP)
OFFICE OF THE TEXAS GOVERNOR
The Texas Enterprise Zone Program (EZP) is a state sales and use tax refund program designed to encourage private investment and job creation in economically distressed areas of the state.
EVENT TRUST FUNDS PROGRAM
OFFICE OF THE TEXAS GOVERNOR
The Event Trust Funds program is comprised of three separate funds, the Events Trust Fund, Major Events Reimbursement Program, and Motor Sports Racing Trust Fund, targeted at attracting various types of events to the State of Texas.
FREEPORT AND GOODS IN TRANSIT EXEMPTIONS
TEXAS COMPTROLLER OF PUBLIC ACCOUNTS
The freeport exemption applies to goods, wares, ores and merchandise other than oil, gas and petroleum products (defined as liquid and gaseous materials immediately derived from refining petroleum or natural gas) and to aircraft or repair parts used by a certificated air carrier.
INDUSTRIAL REVENUE BONDS
OFFICE OF THE TEXAS GOVERNOR
Industrial Revenue Bonds (IRBs) provide a source of tax-exempt or taxable bond finance for projects involving significant private activity that promote new and existing businesses, encourage employment, and expand the tax base of a community.
INTEREST RATE REDUCTION PROGRAM
TEXAS DEPARTMENT OF AGRICULTURE
Through the Interest Rate Reduction (IRR) Program, lenders are able to receive capital for their loans from the Texas Comptroller of Public Accounts, who is authorized by the Legislature to offer below-market interest rates. These lower rates are then passed along to the borrowers, who may benefit from interest rate reductions of several percentage points.
MEDIA PRODUCTION DEVELOPMENT ZONE ACT
OFFICE OF THE TEXAS GOVERNOR
The Media Production Development Zone Act (MPDZ) allows for a sales and use tax exemption for the construction, maintenance, expansion, improvement, or renovation of a media production facility at a qualified media production location over a two year period.
NEW VETERAN-OWNED BUSINESSES AND TEXAS FRANCHISE TAX
TEXAS COMPTROLLER OF PUBLIC ACCOUNTS
A qualifying new veteran-owned business is not subject to franchise tax for its initial five-year period.
PRODUCT DEVELOPMENT AND SMALL BUSINESS INCUBATOR FUND
OFFICE OF THE TEXAS GOVERNOR
The Product Development and Small Business Incubator Fund offers long-term, asset-backed loans to near-bankable businesses commercializing new or improved products and small businesses or entities which foster growth of small businesses.
SALES TAX EXEMPTION FOR MEDIA PRODUCTIONS AND FACILITIES
TEXAS COMPTROLLER OF PUBLIC ACCOUNTS
Under Texas law, a producer or production company may claim a sales or use tax exemption on items or services necessary to and used or consumed directly during the production of a project intended for commercial distribution such as a feature film, commercial, television project, or recording of live performances.
SALES TAX EXEMPTION FOR QUALIFIED DATA CENTERS
TEXAS COMPTROLLER OF PUBLIC ACCOUNTS
An owner, operator and/or occupant of a data center can apply to the Comptroller's office for certification of the facility as a qualified data center and for registration as a qualifying owner, qualifying operator or qualifying occupant.
SALES TAX EXEMPTION OR FRANCHISE TAX CREDIT FOR QUALIFIED RESEARCH
TEXAS COMPTROLLER OF PUBLIC ACCOUNTS
A person engaged in qualified research can claim either a sales and use tax exemption on the purchase, lease, rental, storage or use of depreciable tangible personal property directly used in qualified research, or a franchise tax credit based on qualified research expenses.
SEAPORT AND RAIL YARD AREAS EMISSIONS REDUCTION (SPRY) PROGRAM
TEXAS COMMISSION ON ENVIRONMENTAL QUALITY
The SPRY program provides grants to repower or replace older vehicles and equipment operating at eligible seaports and rail yards with newer models to reduce emissions of nitrogen oxides (NOX) and other pollutants, including particulate matter.
SKILLS DEVELOPMENT FUND
TEXAS WORKFORCE COMMISSION
The Skills Development Fund (SDF) is Texas' premier upskilling program. SDF grants provide site-specific, customized training opportunities for Texas businesses and their employees to increase skill levels and wages of the Texas workforce.
SPACEPORT TRUST FUND
OFFICE OF THE TEXAS GOVERNOR
The Spaceport Trust Fund (STF) is a financial tool to support the development of infrastructure necessary or useful for establishing a spaceport in the State of Texas.
SPECIALTY CROP BLOCK GRANT PROGRAM
TEXAS DEPARTMENT OF AGRICULTURE
The Specialty Crop Block Grant Program provides grant funds for projects that produce measurable outcomes for the specialty crop industry and/or the public. Specialty crops are defined as fruits, vegetables, tree nuts, dried fruits, horticulture and nursery crops (including floriculture).
STATE TRADE EXPANSION PROGRAM (STEP)
TEXAS DEPARTMENT OF AGRICULTURE
The State Trade Expansion Program (STEP) program will take the necessary steps to create or expand export capacity of small businesses in Texas and provide financial assistance along the way to help them achieve success.
TAX CREDIT FOR CERTIFIED REHABILITATION OF CERTIFIED HISTORIC STRUCTURES
TEXAS COMPTROLLER OF PUBLIC ACCOUNTS
Texas law allows a tax credit for up to 25 percent of eligible costs and expenses relating to the certified rehabilitation of certified historic structures.
TAX INCREMENT FINANCING (TIF)
TEXAS COMPTROLLER OF PUBLIC ACCOUNTS
Tax increment financing is a tool that local governments can use to publicly finance needed structural improvements and enhanced infrastructure within a defined area.
TAX RELIEF FOR POLLUTION CONTROL PROPERTY
TEXAS COMMISSION ON ENVIRONMENTAL QUALITY
The Tax Relief for Pollution Control Property Program is responsible for determining whether a facility uses certain property or equipment, in whole or in part, for pollution control (referred to as a use determination).
TEXAS BROADBAND POLE REPLACEMENT PROGRAM
TEXAS COMPTROLLER OF PUBLIC ACCOUNTS
The Texas Broadband Pole Replacement Program reimburses pole owners or broadband service providers 50 percent of eligible pole replacement costs or $5,000 for removing and replacing existing poles, whichever is less.
TEXAS ENTERPRISE FUND
OFFICE OF THE TEXAS GOVERNOR
The Texas Enterprise Fund (TEF) awards deal-closing" grants to companies considering a new project for which one Texas site is competing with other out-of-state sites."
TEXAS LOCAL FOOD PURCHASE ASSISTANCE PROGRAM
TEXAS DEPARTMENT OF AGRICULTURE
Utilizing LFPA funding, Texas will create a program that will foster in-state, long-term relationships and build sustainable market opportunities for state producers.
TEXAS MOVING IMAGE INDUSTRY INCENTIVE PROGRAM
OFFICE OF THE TEXAS GOVERNOR
The Texas Moving Image Industry Incentive Program provides qualifying film, television, commercial, animation, visual effects, video game, extended reality (XR), and other moving image productions the opportunity to receive a cash grant based on a percentage of a project’s eligible Texas expenditures, including eligible wages paid to Texas residents
TEXAS NATURAL GAS VEHICLE GRANT PROGRAM (TNGVGP)
TEXAS COMMISSION ON ENVIRONMENTAL QUALITY
The TNGVGP provides grants to encourage an entity that has a heavy-duty or medium-duty motor vehicle to repower the vehicle with a natural gas engine or replace the vehicle with a natural gas vehicle
WIND AND SOLAR ENERGY TAX EXEMPTIONS AND DEDICATIONS
TEXAS COMPTROLLER OF PUBLIC ACCOUNTS
Tax Code Section 171.056 extends a franchise tax exemption to manufacturers, sellers, or installers of solar energy devices. Texas property tax code permits a 100% exemption on the appraised value of solar, wind or biomass energy devices installed or constructed for the production and use of energy on-site.
YOUNG FARMER GRANT
TEXAS DEPARTMENT OF AGRICULTURE
The Young Farmer Grant Program (YFGP) provides financial assistance in the form of dollar-for-dollar matching grant funds to young agricultural producers that are engaged or will be engaged in creating or expanding an agricultural business in Texas.
YOUNG FARMER INTEREST RATE REDUCTION PROGRAM
TEXAS DEPARTMENT OF AGRICULTURE
The Young Farmer Interest Rate Reduction (YFIRR) Program provides an interest reduction to the borrower on a qualifying bank loan for an eligible project. The Comptroller of Public Accounts for the State of Texas deposits funds in a bank (which must be a state approved depository) at a below market interest rate. The bank issues a loan of like amount, at no more than 4% above the interest rate on the state's deposit. The program does not offer a guaranty or participation by the Authority in the loan.
Utah
MICROLOAN PROGRAM
UTAH MICROLOAN FUND
The Utah Microloan Fund provides low interest small business loans to entrepreneurs who are just starting out and don’t have an operating history, don’t have enough collateral for a conventional loan, and have had life events that have had a negative impact on credit scores.
Eligibility Requirements
Before you apply for a loan with our team, you will need to review the following requirements to ensure you currently, or will soon, meet all requirements:
Must be a resident of Utah
Must have a registered business in Utah
Must have an open business checking account at a bank or credit union
Must have no active bankruptcies in the last 12 months, a current plan for any delinquencies or late payments.
Must have an individual Social Security Number (SSN) or Individual Taxpayer Identification Number (ITIN)
Collateral (a car, home, or other asset) is not always a requirement for approval but it can definitely help. Each application is considered on a case-by-case basis.
If our team is not comfortable with the collateral offered, we may ask if the business can be started with less or request a strong co-signer who is willing and able to make the loan payment if the business and borrower are unable.
Application Information
Applicants must first go through the online orientation slide deck to learn about the program and what the application steps are. Then they fill out a form to request access to the program's online application page.
Additional information available from The Council for Community and Economic Research.
ON-THE-JOB TRAINING (OJT) PROGRAM
UTAH DEPARTMENT OF WORKFORCE SERVICES
The On-the-Job Training (OJT) Program offers reimbursement to employers who provide customized job training for participants.
Eligibility Requirements
Employers must:
- Have a physical location in Utah, have at least one employee and be current in payment of
- Unemployment Insurance/Contribution taxes to the state of Utah
- Provide IRS Employer Identification Number
- Comply with all labor laws including wage and hour, and health and safety
- Have Workers Compensation or similar insurance for employees
- Intend to provide employment and to maintain hours and wages beyond the OJT contract period
Application Information
DWS must determine eligibility for participants according to state and federal law before the individual is hired. Types of applicants that may be eligible include workers laid off from a previous position, economically disadvantaged workers who need to upgrade their skills and workers entering the workforce for the first time.
For additional information and to sign an agreement to participate, please visit the nearest Workforce Services employment center and ask to speak to a Workforce Services representative about the OJT program.
Contact Information
Utah Department of Workforce Services
Employment Centers
140 East 300 South
Salt Lake City, UT 84145-0249
Phone: 801-526-9675
[email protected]
Additional information available from the Utah Department of Workforce Services.
UTAH CAPITAL GAIN TRANSACTIONS TAX CREDIT
UTAH STATE TAX COMMISSION
The Utah Capital Gain Transactions Tax Credit provides a tax credit to investors in qualified Utah small businesses.
Eligibility Requirements
One may claim a credit for the short-term and long-term capital gain on a transaction if:
- The transaction occurs on or after Jan. 1, 2008;
- at least 70 percent of the gross proceeds of the transaction are used to buy stock in a qualified Utah small business corporation within 12 months from when the capital gain transaction occurred; and
- one did not have an ownership interest in the qualified Utah small business corporation at the time of investment.
Capital gain transaction is a transaction that results in a short-term or long-term capital gain (See IRC 1222).
Qualifying stock is either common or preferred stock originally issued by the Utah small business corporation for money or other property (except stock or securities) on or after January 1, 2008 to an individual, estate, trust, or partnership. (See UC §59-10-1022(1)(d)).
Utah small business corporation is a corporation that has its commercial domicile in Utah and meets the requirements of IRC section 1244, and for which the aggregate amount of money and other property received by the corporation for stock, as a contribution to capital and paid-in surplus, may not exceed $2,500,000.00.
Application Information
There is no form for this credit. Keep all related documents with your records.
Additional information available from the Utah State Tax Commission.
UTAH SMALL BUSINESS CREDIT INITIATIVE
GOVERNOR'S OFFICE OF ECONOMIC OPPORTUNITY
USBCI includes $69 million in funding to expand access to capital for small businesses in Utah emerging from the pandemic, create high-paying jobs, and build ecosystems of opportunity and entrepreneurship in Utah.
Eligibility Requirements
USBCI for small businesses - eligible borrowers:
- Utah-based small businesses and non-profits with under 500 employees
Application Information
Businesses must apply through an enrolled lender to participate in the USBCI. Because this program works with lenders’ private capital, it reduces but does not eliminate traditional lending requirements. Program requirements include:
- Business plan/intended use
- Financial projections
- Tax returns
- Collateral
- Business and personal credit scores
- USBCI Certifications (listed below)
- USBCI-enrolled lenders will work with borrowers individually to evaluate their eligibility for USBCI programs.
Additional information available from the Governor's Office of Economic Opportunity.
UTAH TAX CREDIT FOR EMPLOYMENT OF PERSONS WHO ARE HOMELESS (HOMELESS HIRING TAX CREDIT)
UTAH DEPARTMENT OF WORKFORCE SERVICES
The Utah Tax Credit for Employment of Persons Who Are Homeless (HTC) is a state tax credit provided to employers who hire persons who are homeless.
Eligibility Requirements
A qualified person who is homeless is an individual who on the date of hire or anytime during the 60 day period immediately before hire, has a primary nighttime residence that is a public or private place not ordinarily used as a regular sleeping accommodation for an individual or a publicly or privately operated shelter.
Application Information
Employers must apply, enter into a participant agreement and meet the minimum wage requirement for EACH new hire. Upon meeting all requirements, employers will receive certification from the Department of Workforce Services (DWS), verifying that their new hire is qualified and that the minimum wage requirement has been met. The tax credit can be claimed on employers’ state tax filings. Tax law questions should be directed to employers’ tax attorney.
Employers must:
- Complete DWS-WDD Form 308A, Tax Credit Application for Employment of Persons Who Are Homeless.
- Mail or hand-deliver signed and dated form to the Utah Department of Workforce Services
- Upon receipt from DWS, sign and return DWS-WDD 309, Agreement with Employer for Tax Credit for Employment of Persons Who are Homeless.
- Provide written notice within 10 days of meeting the $4000.00 wage payment.
- Indicate Tax Credit Code 28 on your Utah tax return and keep the DWS-WDD 308L, Tax Credit for Employment of Person Who Are Homeless certificate and all related documents with your records.
Additional information available from the Utah Department of Workforce Services.
UTAH VETERAN EMPLOYMENT TAX CREDIT
UTAH DEPARTMENT OF WORKFORCE SERVICES
The Utah Veteran Employment Tax Credit is for employers who hire qualified, recently deployed veterans.
To qualify, the employee must be a recently deployed veteran who was: mobilized to federal military service in an active or reserve component of the U.S. Armed Forces, received honorable or general discharge within 2 years prior to the employment start date, must be employed on or after January 1, 2012, must be collecting or eligible to collect Unemployment Insurance benefits or have exhausted UI benefits within the past two years, and must work at least 35 hours per week for no less than 45 out of the past 52 weeks after the employment start date.
Department of Workforce Services
Unemployment Insurance
140 East 300 South
Salt Lake City, UT 84145
Phone: 801-526-9675
[email protected]
AGRICULTURAL OFF HIGHWAY FUEL TAX REFUND
UTAH STATE TAX COMMISSION
Fuel bought for the purpose of operating agricultural machinery is eligible for a tax credit.
ALTERNATIVE ENERGY DEVELOPMENT INCENTIVE
UTAH OFFICE OF ENERGY DEVELOPMENT
THE ALTERNATIVE ENERGY DEVELOPMENT INCENTIVE
(AEDI) is a post-performance non-refundable tax credit for 75% of new state tax revenues (including, state, corporate, sales and withholding taxes) for 20 years.
COMMUNITY FILM INCENTIVE PROGRAM
UTAH FILM COMMISSION
This program provides a post-performance financial incentive to production companies in order to help develop a strong motion picture industry presence in the state, that will contribute substantially to improving Utah’s economy.
ECONOMIC ASSISTANCE GRANT PROGRAM
GOVERNOR'S OFFICE OF ECONOMIC OPPORTUNITY
The Utah Legislature allocated $4.5 million for an Economic Assistance Grant program to be administered by the Governor's Office of Economic Opportunity.
ECONOMIC DEVELOPMENT TAX INCREMENT FINANCING (EDTIF) PROGRAM
GOVERNOR'S OFFICE OF ECONOMIC OPPORTUNITY
The Utah Legislature created the Economic Development Tax Increment Finance (EDTIF) corporate incentive program in 2005. As the state’s needs and economy continue to evolve, the Legislature fine-tunes the EDTIF program to maintain Utah's robust environment for economic development.
ECONOMIC DEVELOPMENT TAX INCREMENT FINANCING (EDTIF) TAX CREDIT
UTAH GOVERNOR'S OFFICE OF ECONOMIC DEVELOPMENT
The EDTIF tax credit is a post-performance, refundable tax credit for up to 30% of new state revenues (sales, corporate and withholding taxes paid to the state) over the life of the project (typically 5-10 years).
EMPLOYMENT INTERNSHIP OPPORTUNITIES
UTAH DEPARTMENT OF WORKFORCE SERVICESWORK
Experience and Paid Internships are intended to assist participating employers with temporary work needs, while giving trainees hands-on experience in a career setting.
ENTERPRISE ZONE TAX CREDITS
UTAH GOVERNOR'S OFFICE OF ECONOMIC DEVELOPMENT
Under the program, certain types of businesses locating to, or expanding in a designated zone may claim job training tax credits and credits for contributing to non-profit economic development enterprises, rehabilitating businesses, and investing in fixed assets.
HAND TOOLS USED IN FARMING OPERATIONS TAX CREDIT
UTAH STATE TAX COMMISSION
This credit is for sales and use tax paid on hand tools purchased and used or consumed primarily and directly in a farming operation in Utah.
HIGH COST INFRASTRUCTURE TAX CREDIT
UTAH OFFICE OF ENERGY DEVELOPMENT
The High Cost Infrastructure Tax Credit (HCITC) supports significant infrastructure investments in the state, supporting cost-effective, and sustainable delivery of Utah’s commodities to domestic and global markets.
INDUSTRIAL ASSISTANCE FUND
UTAH GOVERNOR'S OFFICE OF ECONOMIC DEVELOPMENT
The Industrial Assistance Fund is a post-performance grant for the creation of high-paying jobs in the state.
MOTION PICTURE INCENTIVE PROGRAM
UTAH FILM COMMISSION
This program provides a post-performance financial incentive to production companies in order to help develop a strong motion picture industry presence in the state, that will contribute substantially to improving Utah’s economy.
PRIVATE ACTIVITY BOND
UTAH DEPARTMENT OF WORKFORCE SERVICES
The Private Activity Bond (PAB) is Utah's tax-exempt bonding authority creating a lower cost, long-term source of capital under the Federal Tax Act of 1986.
PRODUCTION TAX CREDIT (PTC)
UTAH OFFICE OF ENERGY DEVELOPMENT
The Production Tax Credit is available for large scale solar PV, wind, biomass and geothermal electricity generating renewable energy projects.
RECYCLING MARKET DEVELOPMENT ZONE PROGRAM
UTAH DEPARTMENT OF ENVIRONMENTAL QUALITY
This legislation encourages individuals and businesses to recycle by offering tax credits for the machinery, wages, utilities, and spaces used to produce goods from recycled materials, or to individuals and businesses that reduce or reuse materials that would otherwise become waste. Additionally, according to the legislation, commercial composting is an eligible operation.
RENEWABLE ENERGY SYSTEMS TAX CREDIT (RESTC)
UTAH OFFICE OF ENERGY DEVELOPMENT
The Renewable Energy Systems Tax Credit (RESTC) can be applied to residential and commercial renewable energy generating systems.
RESEARCH ACTIVITIES CREDITS
UTAH STATE TAX COMMISSION
These are credits for research activities in Utah and carryover credit for machinery and equipment used to conduct research.
RURAL COWORKING AND INNOVATION CENTER GRANT PROGRAM
UTAH GOVERNOR'S OFFICE OF ECONOMIC DEVELOPMENT
The Rural Coworking and Innovation grant provides funding for facilities that serve individuals working in rural communities with infrastructure and equipment to participate in the online workforce.
RURAL ECONOMIC DEVELOPMENT INCENTIVE (REDI)
UTAH GOVERNOR'S OFFICE OF ECONOMIC DEVELOPMENT
The Rural Economic Development Incentive (REDI) program is designed for businesses creating new high-paying jobs in rural Utah counties. The grant may be available to businesses creating new employment positions in rural counties or in *cities/towns with a population of 10,000 or less in Weber, Davis, Utah, and Washington counties. These jobs can be remote, online, or in a satellite hub/office space, or physically located in the same county as the business. Based on the employee’s work location, a business may receive up to $6,000 for each new position.
TARGETED BUSINESS INCOME TAX CREDIT
UTAH GOVERNOR'S OFFICE OF ECONOMIC DEVELOPMENT
The TBTC program provides tax credits that encourage local businesses to make investments in rural communities.
TECHNOLOGY AND LIFE SCIENCE TAX CREDITS
UTAH GOVERNOR'S OFFICE OF ECONOMIC DEVELOPMENT
Businesses locating or expanding in enterprise zones may be eligible to claim tax credits against the corporate and franchise income taxes for the creation of up to 30 full-time jobs per taxable year.
TRADITIONAL CO-OP MARKETING PROGRAM
UTAH OFFICE OF TOURISM
The Co-op fund creates a partnership between the Utah Office of Tourism (UOT) and Utah’s local destination marketing organizations, including convention and visitor bureaus, chambers of commerce, events, festivals and regional tourism organizations, to increase out of state visitor spending in the state through marketing.
UTAH MANUFACTURING MODERNIZATION GRANT
GOVERNOR'S OFFICE OF ECONOMIC OPPORTUNITY
The $10 million Utah Manufacturing Modernization Grant incentivizes Utah businesses to modernize, establish, relocate, retain, or develop manufacturing in the state.
UTAH OUTDOOR RECREATION GRANT
UTAH GOVERNOR'S OFFICE OF ECONOMIC DEVELOPMENT
The Utah Outdoor Recreation Grant provides new trails and other outdoor recreational opportunities aid in local economic development.
UTAH RURAL JOBS PROGRAM
UTAH GOVERNOR'S OFFICE OF ECONOMIC DEVELOPMENT
The Utah Rural Jobs program enables an eligible small business located in a rural county to expand and create high wage jobs by providing flexible and affordable capital to small businesses in these areas.
UTAH TECHNOLOGY INNOVATION FUNDING
GOVERNOR'S OFFICE OF ECONOMIC OPPORTUNITY
The Utah Technology Innovation Funding (UTIF) pilot aims to leverage Utah small business success with the federal Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs. Two distinct offerings, the SBIR/STTR Microgrants and Gap Funding Nonrecourse Loans for Phase I awardees, maximize the opportunity to bring novel technology and solutions to the marketplace.
UTAH WATER QUALITY PROJECT ASSISTANCE PROGRAM
UTAH DEPARTMENT OF ENVIRONMENTAL QUALITY
The Utah Water Quality Project Assistance Program provides financial assistance and state participation with the needs and requirements associated with conserving, developing, treating, restoring, and protecting the waters of the State.
WELL RECOMPLETION OR WORKOVER SEVERANCE TAX CREDIT CERTIFICATE
UTAH OFFICE OF ENERGY DEVELOPMENT
A non-refundable severance tax credit for operators that conduct a well recompletion or workover.
Vermont
BUSINESS BUILDER LOAN PROGRAM
CENTER FOR AN AGRICULTURAL ECONOMY
This loan program supports Vermont farms and food producers and those who directly support the growing of the VT food system.
Eligibility Requirements
Business Builder loans are exclusively for Vermont farmers, those who own a Vermont food-related business whose primary inputs are Vermont farm products, and those who support Vermont farmers. We focus on small and midscale producers that are trying to build their businesses, and larger enterprises that are working on smaller, innovative projects and pilot business ventures.
Application Information
Applications are reviewed and responded to within 10 business days, with most loan funds being granted to approved recipients within 14 business days. You can apply online on the Vermont Farm Fund website.
Additoinal information available from the Center for an Agricultural Economy.
BUSINESS LOAN PROGRAM
COMMUNITY CAPITAL OF VERMONT
The Business Loan program offers commercial financing to businesses throughout the state of Vermont.
Eligibility Requirements
Borrowers must meet all of the following eligibility requirements to be considered for financing from Community Capital of Vermont. For more information on eligibility requirements, please see program website.
Application Information
The application process is the following:
- Determine that you are eligible to apply. Contact our office or check the eligibility checklist found on our website
- Submit your application, supporting documents, and non-refundable application fee. If you need assistance in completing the application or any of the supporting documents, please contact Community Capital. We can provide resources to those who need help with components of their application, specifically their business plan and pro forma projections. All items submitted to Community Capital of Vermont will stay with Community Capital of Vermont and will not be returned to applicant(s). Please note: If you email your application and supporting documents, you must limit the email size to no greater than 10Mb.
- Community Capital’s underwriting process will begin once all of your application and required documents are submitted.
Additional information available from the Community Capital of Vermont.
CHARITABLE HOUSING INVESTMENT TAX CREDIT
VERMONT AGENCY OF COMMERCE AND COMMUNITY DEVELOPMENT
The Charitable Housing Investment Tax Credit (“HITC”) is an opportunity to support affordable housing in Vermont and individual and corporate Vermont income taxes.
Eligibility Requirements
Applicants include individuals and corporations that pay Vermont Income Tax. VCLF provides loans to affordable housing organizations, small businesses, child care programs, and community facilities that serve Vermonters earning 80% of the area median income or less.
Application Information
If you are interested in learning how to make a charitable housing investment, contact the Vermont Community Loan Fund (VCLF).
PO Box 827, Montpelier, VT 05601
P 802-223-1448 F 802-223-1455
Additional information available from the Vermont Agency of Commerce and Community Development.
COMMERCIAL ENERGY LOAN PROGRAM
VERMONT ECONOMIC DEVELOPMENT AUTHORITY
The Commercial Energy Loan Program helps Vermont businesses finance larger qualifying renewable energy generation and energy efficiency improvement projects.
Eligibility Requirements
- Individuals, partnerships, corporations (profit and non-profit), limited liability companies and municipalities planning to undertake a project for construction of or improvements to a renewable energy generating facility; to make energy efficiency improvements to an existing facility; and/or to adopt technologies that enhance or support the development and implementation of renewable energy or energy efficiency, or both;
- Projects funding construction of renewable energy generation or efficiency improvements for individual or small residential properties are not eligible.
Application Information
- Applicants are advised to discuss their proposed project with a VEDA Loan Officer prior to submitting the application
- Certain loans may be approved internally, other loans must be presented to the VEDA Board at their semi-monthly meetings
- To complete the application, visit the program website
- Applications may also be obtained at the VEDA offices in Montpelier, Burlington, and Middlebury
Additional information available from the Vermont Economic Development Authority.
DIRECT LOAN PROGRAM
VERMONT ECONOMIC DEVELOPMENT AUTHORITY
The Direct Loan Program helps borrowers to finance fixed assets. It is utilized in conjunction with bank financing. VEDA may either make its own direct loan or purchase a portion of a bank loan.
Eligibility Requirements
Individuals, partnerships, corporations or limited liability companies engaged in manufacturing, processing, warehousing, research and development, recycling, travel & tourism, information technology and other businesses as defined in statute. Applicants must demonstrate potential to create/retain employment for Vermonters or import capital into Vermont.
Applicants must demonstrate potential to create/retain employment for Vermonters or import capital into Vermont.
Use of proceeds:
- Purchase of land and building, including new construction or renovation;
- Purchase and installation of machinery and equipment, furniture and fixtures;
- VEDA cannot finance or refinance existing company assets or debt.
Application Information
The application process is as follows:
- Applicants are advised to discuss their proposed project with VEDA staff prior to submitting the application;
- Certain loans may be approved internally; other loans must be presented to the VEDA Board at their semi-monthly meetings;
- The application is available on VEDA's website.
- Applications may also be obtained at the VEDA offices in Montpelier, Burlington, and Middlebury.
Additional Information
Vermont Economic Development Authority
58 East State Street, Suite 5
Montpelier, VT 05602
Phone: 802-828-5627
Fax: 802-828-5457
[email protected]
Additional information available from the Vermont Economic Development Authority.
DOWNTOWN AND VILLAGE CENTER TAX CREDIT
VERMONT AGENCY OF COMMERCE AND COMMUNITY DEVELOPMENT
The Downtown and Village Center tax credit program helps to stimulate private investment and create jobs. It supports the creation and improvement of rental housing. Tax credits can restore buildings and jump start revitalization in Vermont communities. Successful projects range from modest renovations in small centers to multimillion-dollar downtown redevelopments. Projects must be within a Designated Downtown, Village Center, or Neighborhood Development Area. Credits support general rehabilitation and code compliance work. The program also funds flood mitigation upgrades and exterior façade improvements.
Eligibility Requirements
Eligible Applicant: Owners or lessees of a qualified building may apply for credits, including non-profit organizations. Federal, state, and local governments are not eligible.
Eligible Building: Buildings at least 30 years old at the time of application, located within a designated downtown, village center, or neighborhood development area, and not used as a single-family residence. Portions of buildings used for a personal residence may not benefit from tax credit improvements.
Minimum Expenditure: Total project costs must exceed $5,000
Application Information
Application Time Frames: Applicants should apply to this program before construction begins. However, they may apply during ongoing construction. Applications should be emailed to [email protected]. Applications may also be submitted in hard copy by US Mail. Contact program staff for a physical mailing address. Faxed applications are not accepted. Please note: The Downtown Board will not consider incomplete applications, handwritten applications, or applications with missing attachments.
Additional information available from the Vermont Agency of Commerce and Community Development.
ELECTRIC VEHICLE CHARGING STATION LOAN PROGRAM
VERMONT ECONOMIC DEVELOPMENT AUTHORITY
Through Electric Vehicle Charging Station loans program, electric vehicle charging stations and natural gas refueling stations available for public use are eligible for SIB financing.
Eligibility Requirements
Sole proprietorships, partnerships, corporations (for profit and non-profit) and municipalities wishing to undertake a project as described.
Application Information
For more information, please contact the State Infrastructure Bank (SIB).
Additional information available from the Vermont Economic Development Authority.
ENTREPRENEURIAL LOAN PROGRAM
VERMONT ECONOMIC DEVELOPMENT AUTHORITY
The Entrepreneurial Loan Program provides financing to meet the working capital and capital-asset financing needs of Vermont-based businesses that may not have access to conventional means of financing.
Eligibility Requirements
- Sole proprietorships, partnerships, corporations, LLC’s located in Vermont;
- Businesses in seed, start-up or early growth stage who do not meet the underwriting criteria of other public and private entrepreneurial financing sources;
- Businesses with innovative products or services that have the potential for long-term organic growth;
- Businesses unable to access adequate capital because the primary assets used to secure loans are typically intellectual property or similar nontangible assets;
- Businesses must demonstrate potential to create/retain employment opportunities for Vermonters.
Contact Information
Vermont Economic Development Authority
58 East State Street, Suite 5
Montpelier, Vermont 05602
Phone: 802.828.5627
Fax: 802.828.5474
Email: [email protected]
Additional information available from the Vermont Economic Development Authority.
FOOD, FARMS, AND FORESTS FUND
VERMONT COMMUNITY LOAN FUND
The Food, Farms, and Forests Fund is an alternative source of capital and business development support for farmers, food producers and natural resources entrepreneurs.
Eligibility Requirements
Eligible businesses include (but are not limited to):
- farms and agricultural operations
- food producers, incubators, wholesalers and retailers including grocery stores, co-ops, CSAs and farmers markets
- forestry and forest product enterprises
- stewardship and other natural resources organizations
The FFF Fund provides financing to enterprises that meet any of the following qualifications:
- sustainable agriculture/forestry practices/sustainable use of natural resources
- involvement of the local food and Vermont food economy
- participation in/support for healthy foods and healthy foods access programs
- opportunities for education/youth engagement
- other benefit to distressed communities or underserved populations
Acceptable uses may include:
- Real estate/farmland acquisition
- Facility construction or improvement
- Equipment
- Inventory
- Working capital
Application Information
Interested applicants should contact the Vermont Community Loan Fund:
Makayla LaPerle
Vermont Community Loan Fund
P.O. Box 827
Montpelier, VT 05601
Phone: 802-224-9141
[email protected]
Additional information available from the Vermont Community Loan Fund.
INVESTMENT TAX CREDIT
VERMONT DEPARTMENT OF TAXES
Vermont offers an investment tax credit for installations of renewable energy equipment on business properties.
Eligibility Requirements
All equipment must meet the same requirements as the Federal Investment Tax Credit. For more information contact the Vermont Department of Taxes:
Vermont Department of Taxes
Business Tax section
133 State Street
Montpelier, VT 05602
Phone: (802) 828-2551
[email protected]
Additional information available from the Vermont Department of Taxes.
JUSTICE FORWARD FUND
VERMONT COMMUNITY LOAN FUND
Through the Justice Forward Fund, we direct a portion of our impact investment capital to serving Vermonters traditionally and generationally excluded from conventional financial markets and services, including: Black Vermonters, Indigenous Vermonters, Vermonters of Color, and New Americans.
Eligibility Requirements
The Justice Forward Fund serves Vermonters traditionally, systemically and/or generationally excluded from conventional financial markets and services, including:
- Black Vermonters
- Indigenous Vermonters
- Vermonters of Color, and
- New Americans
The Justice Forward Fund serves Vermonters who have not yet had the opportunity to build wealth. Eligible borrowers include:
- small businesses, including sole proprietors, where BIPOC Vermonters own at least 50% of the business
- nonprofit organizations and community facilities, where (a) BIPOC Vermonters serve as leadership on the staff and/or Board of Directors, and/or (b) the organization's mission explicitly and directly serves BIPOC Vermonters
- early care & learning businesses owned or led by BIPOC Vermonters, and
- affordable housing developed, built and/or controlled by BIPOC Vermonters
Eligible businesses can be for- or nonprofit, but cannot be a passive real estate company.
Acceptable uses:
- Working capital
- Equipment
- Inventory
- Facility construction or improvement
- Lines of credit
- Debt refinance
Application Information
For more information on VCLF loan program, please see the program website.
Additional information available from the Vermont Community Loan Fund.
NEW PRODUCER LOANS
CENTER FOR AGRICULTURAL ECONOMY
The New Producer Loan program provides loans for farmers and food producers with less than 2 years of operating history.
Eligibility Requirements
New Producer Loans are exclusively for farm and food-related businesses registered and located in Vermont that either produce or source ingredients for their value added food processing from local farms/producers (Vermont plus 30 miles).
Application Information
Applicants are required to supply a written business plan prepared with outside support from a technical assistance provider that includes at least two years of financial projections. The online application form is available on the Vermont Farm Fund website.
Additional information available from the Center for Agricultural Economy.
RESEARCH AND DEVELOPMENT CREDIT
VERMONT DEPARTMENT OF TAXES
The Vermont credit can be taken in an amount equal to 27% of the federal tax credit allowed in the taxable year. This credit applies to personal income tax or business or corporate income tax.
Eligibility Requirements
Qualified expenditures are defined in 26 USC §41(b). For more information about this tax credit, contact the Vermont Department of Taxes:
Vermont Department of Taxes
133 State Street
Montpelier, VT 05602
Phone: 802-828-2865
[email protected]
Additional information available from the Vermont Department of Taxes.
RETAIL SALES AND USE TAX EXEMPTIONS
VERMONT DEPARTMENT OF TAXES
Retail sales of tangible personal property are always subject to Vermont Sales Tax unless specifically exempted by Vermont law. There are many exemptions listed in the state statutes.
Eligibility Requirements
For more information contact the Vermont Department of Taxes:
Vermont Department of Taxes
113 State Street, 1st Floor
Montpelier, VT 05602
Phone: 802-828-2505
[email protected]
Additional information available from the Vermont Department of Taxes.
TAX-EXEMPT REVENUE BOND PROGRAM FOR MANUFACTURERS
VERMONT ECONOMIC DEVELOPMENT AUTHORITY
VEDA's Tax-Exempt Revenue Bond Program is designed to aid certain manufacturers through the issuance of tax-exempt bonds. Tax-exempt bonds traditionally carry lower interest rates than conventional bank loans because income earned by purchasers of these bonds is exempt from federal and, in some cases, state tax.
Eligibility Requirements
- Manufacturers engaged in the production of tangible personal property;
- Total capital investment by the borrower cannot exceed $20 million in the project municipality covering the three years prior to, and the three years following, the date of issue;
- Federal tax code provisions must be complied with to assure eligibility for tax-exempt financing; please contact VEDA for more complete information.
Application Information
All applications must be considered by the VEDA Board for approval. This is a two-step procedure:
- Preliminary approval (Inducement) must be obtained before any significant project expenditures are made; and
- Final approval may be granted when applicant has received permits for the project and bond documents have been finalized.
Applications may be downloaded or obtained at the VEDA office, and applicants are advised to discuss their proposed project with VEDA staff prior to submitting the application.
Additional information available from the Vermont Economic Development Authority.
VERMONT 504 LOAN PROGRAM
VERMONT ECONOMIC DEVELOPMENT AUTHORITY
The Vermont 504 Corporation, with SBA’s approval, makes SBA 504 loans to eligible and qualified borrowers.
Eligibility Requirements
Eligible Borrowers
- Organized as a for-profit business;
- Business net worth cannot exceed $15 million;
- Average net profit after taxes cannot exceed $5.0 million for previous two years;
- Located, or planning to locate, in the United States;
- Owner-user of the project being financed (51% occupancy minimum if existing building; 60% occupancy if new construction).
Eligible Uses of Proceeds
- Real estate acquisition, construction, rehabilitation or expansion;
- Purchase and installation of machinery and equipment;
- Associated soft costs;
- Proceeds may not be used for working capital or inventory;
- In certain cases, refinancing of existing debt may be eligible.
Application Information
Application Process
- Applications are available from the VEDA office in Montpelier or can be downloaded from the VEDA website.
- Once received, applications will be evaluated promptly by Vermont 504 Corporation staff. The Vermont 504 Loan Committee meets weekly to review loan requests;
- SBA approval is generally obtained in 7-10 business days.
Additional information available from the Vermont Economic Development Authority.
VERMONT ACCELERATING SUSTAINABLE JOBS FUND
VERMONT DEPARTMENT OF ECONOMIC DEVELOPMENT AUTHORITY
The Vermont Sustainable Jobs Fund provides business assistance, value chain facilitation, network development, and strategic planning in agriculture and food systems, forest products, waste management, renewable energy, and environmental technology.
Eligibility & Application Requirements
When funding permits, the Vermont Sustainable Jobs Fund provides small, strategic grants in the sectors we serve (agriculture and food system, forest product, waste management, renewable energy, and environmental technology). When capacity exists, we offer administrative support to early stage nonprofit organizations who do not yet have their own 501(c)3 nonprofit status and other special projects that are aligned with our mission. We also laid the groundwork for the Flexible Capital Fund, LC3, an investment company which provides creative growth financing in sustainable agriculture and food systems, forest products, and clean technology sectors. Contact Vermont Sustainable Jobs Fund for more details:
Vermont Sustainable Jobs Fund, Inc.
3 Pitkin Court, Suite 301E
Montpelier, VT 05602
Phone: 802-828-0398
[email protected]
Additional information available from the Vermont Sustainable Jobs Fund.
VERMONT EMPLOYMENT GROWTH INCENTIVE (VEGI)
VERMONT AGENCY OF COMMERCE AND COMMUNITY DEVELOPMENT
The Vermont Employment Growth Incentive (VEGI) program can provide a cash payment, based on the revenue return generated to the State by prospective qualifying job and payroll creation and capital investments, to businesses that have been authorized to earn the incentive and who then meet performance requirements.
Eligibility Requirements
Approval occurs through application to the Vermont Economic Progress Council, who determine:
- The total estimated incremental tax revenues from all sources generated to the State by the proposed economic activity exceeds the revenue costs of the activity to the State, including the cost of the incentive;
- The host municipality welcomes the new business and the proposed economic activity conforms to applicable town and regional plans;
- The business is in compliance with State regulations and laws;
- If the business proposes to expand within a limited local market, an incentive would not give the business an unfair competitive advantage over other Vermont businesses in the same or similar line of business and in the same limited local market; and
- But for the incentive, the proposed economic activity:
- (A) would not occur; or
- (B) would occur in a significantly different manner that is significantly less desirable to the State.
Application Information
Prospective applicants can get an estimate of potential incentives at any time by filing an online Pre-Application. Then, formal approval of the incentives by the VEPC Board can occur in two phases: Initial and Final. The Council may approve an Initial Application if the But For is met and approve an incentive amount based on initial data from the company. This will allow companies the ability to meet the But For when they are at a point of project development that might not include definitive employment and payroll data. This is especially necessary for companies considering several sites or with complicated real estate transactions. Initial authorization must occur before a company makes a decision to proceed with the project. If an application is given Initial Approval, the applicant must subsequently file a Final Application before the end of the calendar year in which the project starts to receive authorization of the incentives. In the Final Application, the company’s headcount, payroll, and capital investment projections set the annual performance requirements that must be met to earn the incentive.
Once authorized, to actually earn the incentive each year the company must maintain their base payroll, meet their payroll performance requirement, and meet either their new qualifying job or their capital investment performance requirement. The incentive earned that year is then paid out in five cash installments if the performance requirements are maintained.
Additional information available from the Vermont Agency of Commerce and Community Development.
VERMONT ENTREPRENEUR'S SEED CAPITAL FUND
VERMONT DEPARTMENT OF TAXES
The purpose of this tax credit is to increase the amount of investment capital available to Vermont firms for their expansion.
Eligibility & Application Requirements
Contact Vermont Department of Taxes for additional information:
Vermont Department of Taxes
133 State Street, 1st Floor
Montpelier, VT 05602
Phone: 802-828-2505
[email protected]
Additional information available from the Vermont Department of Taxes.
VERMONT SEED CAPITAL FUND
VERMONT CENTER FOR EMERGING TECHNOLOGIES (VCET)
The Vermont Seed Capital Fund is designed to be a revolving venture capital loan fund designed to support early-stage, high opportunity, technology-based companies in Vermont.
Eligibility Requirements
Any Vermont based start-up, emerging growth firm, or team seeking to relocate or expand into Vermont is eligible for consideration except if your company:
- Has last 12 month sales greater than $3 million
- Has headquarters or principal team location outside of Vermont
- Is a restaurant, retail store or real estate project
Contact Information
Vermont Center for Emerging Technologies (VCET)
266 Main Street
Burlington, VT 05401
Phone: 866-232-9423
[email protected]
Additional information available from the Vermont Center for Emerging Technologies (VCET).
VERMONT SMALL BUSINESS LOAN PROGRAM
VERMONT ECONOMIC DEVELOPMENT AUTHORITY
The Vermont Small Business Loan Program is available to assist growing Vermont small businesses that are unable to access adequate sources of conventional financing.
Eligibility Requirements
- Eligible borrowers must be U.S. citizens or 51%-owned by U.S. citizens, and unable to access conventional credit;
- Applicants must demonstrate potential to create/retain employment opportunities for Vermonters.
Contact Information
Vermont Economic Development Authority
58 East State Street, Suite 5
Montpelier, VT 05602
Phone: 802-828-5627
[email protected]
Additional information available from the Vermont Economic Development Authority.
VERMONT TRAINING PROGRAM (VTP)
VERMONT AGENCY OF COMMERCE AND COMMUNITY DEVELOPMENT
The Vermont Training Program (VTP) partners with employers and training providers to prepare Vermont's employees for the jobs of tomorrow. VTP provides performance-based workforce grants for pre-employment training, training for new hires, and training for incumbent workers. This training can either be on-site or offered through an outside provider.
Eligibility Requirements
VTP funds work-based learning programs and activities with eligible employers to introduce manufacturers and other regionally significant employers to Vermont students at every level. Employers who provide work-based learning programs or activities developed in partnership with a school or education program may apply to VTP for a grant to offset the costs of providing these programs.
Application Information
Applications are accepted and reviewed on a rolling basis. The VTP Staff are available to visit potential applicants and have a more in-depth discussion regarding the application and employee training needs. Applications are reviewed by the VTP Review Team. The general turn-around time is 18 business days.
Contact Information
Agency of Commerce and Community Development
One National Life Drive, 6th Floor
Montpelier, VT 05620
Phone: 802-828-1093
Additional information available from the Vermont Agency of Commerce and Community Development.
AFFORDABLE HOUSING TAX CREDIT
VERMONT HOUSING FINANCE AGENCY
The Housing Tax Credit was designed by Congress to help create and preserve affordable rental housing for lower income households. It provides a direct cost-based reduction in federal tax liability over a 10-year period for owners of qualifying rental housing who agree to conform to certain operating restrictions for a 15-year period or longer.
AGRICULTURAL ENERGY LOAN PROGRAM
VERMONT ECONOMIC DEVELOPMENT AUTHORITY
The Vermont Agricultural Credit Corporation (VACC), helps Vermont agriculture- and forest product-based businesses finance qualifying renewable energy generation or energy efficiency improvement projects.
AGRITOURISM LOAN PROGRAM
VERMONT COMMUNITY LOAN FUND
The Vermont Community Loan Fund's Agritourism Loan Program provides financing and business development services to Vermont farmers that encourage people to visit farms.
BROADBAND EXPANSION LOAN PROGRAM
VERMONT ECONOMIC DEVELOPMENT AUTHORITY
The Broadband Expansion Loan Program makes loans that expand broadband service to unserved and underserved Vermonters.
BROWNFIELDS REVITALIZATION FUND (BRF) LOAN PROGRAM
VERMONT ECONOMIC DEVELOPMENT AUTHORITY
The Brownfields Revitalization Fund (BRF) was established in Vermont statute as part of the state’s voluntary contaminated properties clean-up program, known as the Redevelopment of Contaminated Properties Program (RCPP).
DOWNTOWN DESIGNATION PROGRAM
VERMONT AGENCY OF COMMERCE AND COMMUNITY DEVELOPMENT
The Downtown Designation Program works throughout the state to bring resources (tax credits and grants) and training and technical services to help affiliated or "designated" downtown organizations preserve and revitalize historic areas and create strong communities.
DRINKING WATER STATE REVOLVING FUND
AGENCY OF NATURAL RESOURCES
The Drinking Water State Revolving Fund (DWSRF) program provides subsidized low-cost financing to municipal and privately-owned public water systems for capital improvements that improve public health protection and facilitate compliance with the Safe Drinking Water Act.
ELECTRIC VEHICLE WORKPLACE CHARGING STATION LOAN PROGRAM
VERMONT ECONOMIC DEVELOPMENT AUTHORITY
Electric Vehicle Workplace Charging Station loans are available for any for profit or not-for-profit business, municipality, or individual owning or leasing a business property to an otherwise eligible business and installing a new EV Charging station(s).
EXPORT ASSISTANCE PROGRAM
VERMONT ECONOMIC DEVELOPMENT AUTHORITY
As the Regional Export Promotion Program (REPP) Partner of the United States Export-Import (Ex-Im) Bank, VEDA provides one-stop service for export finance programs in Vermont.
INTERNATIONAL TRADE ASSISTANCE
VERMONT AGENCY OF COMMERCE AND COMMUNITY DEVELOPMENT
Funding assistance is available to eligible small business exporters to support entry into foreign markets or expand international export activity through trade shows, trade missions, market research, e-commerce, and export education.
LOCAL DEVELOPMENT CORPORATION LOANS
VERMONT ECONOMIC DEVELOPMENT AUTHORITY
This program provides financing to nonprofit local and regional development corporations to build facilities for lease to identified eligible tenants, or to plan and/or develop industrial parks.
MONTPELIER HEATING DISTRICT LOAN PROGRAM
VERMONT ECONOMIC DEVELOPMENT AUTHORITY
This Program makes loans to Montpelier businesses that wish to connect to the City of Montpelier’s (City's) new heating district improvements.
QUALIFIED SALE OF MOBILE HOME PARK CREDIT
VERMONT AGENCY OF COMMERCE AND COMMUNITY DEVELOPMENT
A taxpayer of this State shall receive a credit against the tax imposed under section 5822 or 5832 of this title for a qualified sale of a mobile home park.
RURAL ECONOMIC DEVELOPMENT INITIATIVE
VERMONT HOUSING AND CONSERVATION BOARD
The Rural Economic Development Initiative (REDI), a program of the Vermont Housing and Conservation Board, helps rural communities access the funding they need for community and business development. REDI provides grant writing assistance to rural communities and small businesses interested in applying for federal funds and other funding sources when applicable.
SALES AND USE TAX EXEMPTION FOR FORESTRY MACHINERY, REPAIR PARTS, AND ACCESSORIES
VERMONT DEPARTMENT OF TAXES
Specific types of machinery, repair parts, and accessories sold for use on exempt machinery are exempt from Vermont Sales and Use Tax. This exemption targets the types of machinery used in timber cutting, timber removal, and the processing of timber or other solid wood forest products intended to be sold at retail.
SPROUT LOAN PROGRAM
VERMONT COMMUNITY LOAN FUND
SPROUT helps the Loan Fund reach a little further to provide that extra flexibility and patience that some of our borrowers need to succeed. With start-up support from the State of Vermont’s Working Lands Enterprise Initiative, SPROUT meets the financing needs of working lands entrepreneurs who might not otherwise be eligible for a VCLF loan.
TRAILS PROGRAM
VERMONT COMMUNITY LOAN FUND
VCLF's TRAILS (Tourism & Recreation Adventure Infrastructure LoanS) program provides financing that creates opportunities for Vermonters and our visitors to get outdoors. TRAILS financing is available to businesses and organizations that provide services or goods that enable, support or are adjacent to Vermont's outdoor recreation industry.
VERMONT AGRICULTURAL CREDIT CORPORATION LOAN PROGRAM
VERMONT ECONOMIC DEVELOPMENT AUTHORITY
VACC, a program of VEDA, is a nonprofit corporation which provides credit to Vermont farmers, agricultural facilities, forestry and forest product-based businesses.
VERMONT AGRICULTURAL CREDIT CORPORATION LOAN PROGRAM
VERMONT ECONOMIC DEVELOPMENT AUTHORITY
VACC, a program of VEDA, is a nonprofit corporation which provides credit to Vermont farmers, agricultural facilities, forestry and forest product-based businesses.
VERMONT EMPLOYEE OWNERSHIP LOAN FUND
VERMONT EMPLOYEE OWNERSHIP CENTER
The Vermont Employee Ownership Loan Fund provides capital to businesses that are already employee-owned, or are becoming so through the purchase of stock or business assets, as well as start-ups that will be owned by substantially all of the employees. Proceeds may be used for fixed assets, working capital, financing of worker shares in cooperatives, or the funding of Employee Stock Ownership Plans.
VERMONT HOUSING IMPROVEMENT PROGRAM (VHIP)
VERMONT AGENCY OF COMMERCE AND COMMUNITY DEVELOPMENT
The Vermont Housing Improvement Program (VHIP) offers grants up to $50,000 per unit for repairs needed to bring vacant rental units up to Vermont Rental Housing Health Code guidelines, add new units to an existing building, or create an accessory dwelling unit on an owner-occupied property.
VERMONT STATE INFRASTRUCTURE BANK (SIB)
VERMONT ECONOMIC DEVELOPMENT AUTHORITY
The State Infrastructure Bank (SIB) program, operated by the Vermont Economic Development Authority in conjunction with the Vermont Agency of Transportation and the Federal Highway Administration, is available to assist in the construction or reconstruction of highways, roads and bridges, as well as certain facilities related to rail transit.
Virginia
COALFIELD ECONOMIC DEVELOPMENT FUND
VIRGINIA COALFIELD ECONOMIC DEVELOPMENT AUTHORITY
The Virginia Coalfield Economic Development Authority (VCEDA) is primarily a revolving loan fund designed to provide low-interest loans for fixed asset needs.
Eligibility Requirements
Financing is based in part upon the number of new jobs created, amount of private investment, and wage rates.
An average wage of at least 1.5 times federal minimum wage is required.
Priority will be given to projects requiring $10,000-$25,000 for each new job created, and projects that create at least 15 full-time jobs within 36 months.
The project must provide at least 20% equity.
Application Information
Contact the Virginia Coalfield Economic Development Authority for more information.
Additional information available from the Virginia Coalfield Economic Development Authority.
ECONOMIC DEVELOPMENT LOAN FUND
VIRGINIA SMALL BUSINESS FINANCIAL AUTHORITY
The SBIG program provides a meaningful return on investment from the Commonwealth to encourage individuals or special purpose entities (created for the purpose of investing in small businesses) to make cash investments in small businesses for working capital, growth, and expansion.
Eligibility Requirements
Eligible Investors:
- Are individuals subject to Virginia State Tax pursuant to § 58.1-320 or a special purpose entity established for the purpose of making investments for such individuals;
- Are not engaged in the business of making equity or debt investments in private businesses, or any person who is a partner, shareholder, member or owner of such entities;
Eligible Small Business:
- A business must meet all of the following criteria:
- Is a corporation, pass-through entity or other entity (sole proprietorships are not eligible);
- Has annual gross revenue that does not exceed $5 million in its most recent year of operations;
- Has its principal office or place of business located in VA;
- Primarily conducts its business or substantially produces its goods in VA;
- May not have received more than $5 million of cash investments from the issuance of stock or subordinated debt in its existence (commercial loans from financial institutions are not included); and
- Has no more than 50 employees in VA.
Eligible Investments:
- Are cash investments in the form of equity or subordinated debt issued on or after July 1, 2020 and prior to January 1, 2023;
- Must remain in place for 2 years, and if it is subordinated debt (i) principal payments cannot be made during the first 3 years after issuance; (ii) it cannot be guaranteed by any other person or secured by assets of the eligible business or any person; and (iii) must be subordinated to all bank indebtedness of the business;
- Not eligible: Investments in which the investor has been or will be allowed a Virginia Tax Credit pursuant to § 58.1-339.4
Application Information
There is a $500 non-refundable application fee. If approved, the Borrower will pay all closing and legal fees associated with the loan closing.
Additional information available from the Virginia Small Business Financial Authority.
RECYCLABLE MATERIALS PROCESSING EQUIPMENT AND ALTERNATIVE RECYCLING CREDIT
VIRGINIA DEPARTMENT OF TAXATION
An income tax credit equal to 20% of the purchase price of equipment you buy to make things from recycled materials, or to convert waste products into raw materials. Claim the credit during the same year that you buy the equipment.
Eligibility Requirements
You may qualify to claim this credit if:
- You make things from recycled materials in Virginia.
- You recycle waste products into the raw materials others use to make things.
Application Information
Applying for this credit is a 2-step process. First, the Virginia Department of Environmental Quality (DEQ) has to certify that your equipment is integral to the recycling process. Visit the DEQ website for more information, and follow their process to apply for certification. Once DEQ certifies the equipment, step 2 is to file Form RMC with us by June 1.
To claim the credit, Schedule CR is required for individual and fiduciary returns, Form 500CR is required for corporate returns, Schedule 502 ADJ, for pass-through entity returns.
Additional information available from the Virginia Department of Taxation.
SEED CAPITAL MATCHING FUND
VIRGINIA COALFIELD ECONOMIC DEVELOPMENT AUTHORITY
Helping entrepreneurs to grow their new small businesses in the purpose of the Virginia Coalfield Economic Development Authority Seed Capital Matching Fund.
Eligibility Requirements
Must be a Virginia-based for-profit business that is no older than one year and has less than 10 full-time employees.
Application Information
To begin the application process for this program, applicants should contact the Small Business Development Center at either Southwest Virginia or Mountain Empire Community College. A letter of support for the funding request is also generally required from the local industrial/economic development authority of the locality in which the project is located.
Additional information available from the Virginia Coalfield Economic Development Authority.
SMALL BUSINESS LENDING
LOCUS
The Small Business Lending works with for-profit and non-profit businesses through a variety of financing options.
Eligibility Requirements
How does a business qualify for a small business loan from Locus?
We start with a phone call, to learn more about the business and the loan request. If the Locus staff member feels that the deal may be within Locus’s realm, we request financial information including tax returns, projections, personal financial statement, current profit and loss statement and balance sheet, and other documents where necessary. The loan officer and underwriter analyze the financial condition of the borrower and take the loan request to Locus’ risk team for approval. The process typically takes 45 days from the day we receive a complete loan application package to loan closing.
Application Information
Interested parties should first fill out the Lending Inquiry on the Locus website.
Additional information available from the Virginia Coalfield Economic Development Authority.
SUPPLY CHAIN OPTIMIZATION PROGRAM
VIRGINIA ECONOMIC DEVELOPMENT PARTNERSHIP
This program provides counseling, strategy development, and resources to improve performance and reduce costs.
Eligibility Requirements
Eligibility
Companies interested in participating in the Supply Chain Optimization Program must meet the following eligibility criteria:
Must have at least five full-time employees in Virginia
Must operate in the Commonwealth of Virginia
Preferably imports components for future exporting initiatives
Application Information
Contact the Supply Chain Program Manager for more information.
Contact Information
Monica Sadie
Virginia Economic Development Partnership
901 East Cary Street
Richmond, VA 23219
Phone: 804-545-5763
[email protected]
VIRGINIA FOOD ACCESS INVESTMENT FUND GRANTS
VIRGINIA DEPARTMENT OF AGRICULTURE AND CONSUMER SERVICES
he VFAIF Program awards grants of up to $50,000 for the construction, rehabilitation, equipment upgrades, or expansion of grocery stores, small food retailers, or innovative food retail projects in underserved communities.
Eligibility Requirements
Eligibility
- The VFAIF program is a unique grant opportunity that is focused on low-income and low-access communities. Specifically, VFAIF and EFOD are focused on low-income, low-access communities which have been disproportionately affected by unequal investment and growth, including a lack of access to capital.
- Applicants may be individuals, farms, nonprofits, organizations (faith-based or others), or for-profit businesses.
Eligible projects include the business development, construction, rehabilitation, equipment upgrades, or expansion of:
- Grocery stores that primarily sell meat, seafood, fruits, vegetables, dairy products, dry groceries, household products, sundries, and healthy food options
- Innovative food retail projects such as mobile markets or delivery models, including food trucks
- Small food retailers, such as small-scale stores, neighborhood stores, small groceries, farmers’ markets, or corner stores
- Small, limited resource or socially disadvantaged farmers and ranchers; small, limited resource or socially disadvantaged farm co-ops, community gardens, restaurants or cafes with a direct food retail component or in partnership with a qualified food retailer, food hub, Supplemental Nutrition Assistance Program (SNAP) Community Supported Agriculture (CSA), and/or farm stand
Eligible uses of funding may include, but are not limited to, seed money or funds for implementation, such as site development or the purchase of equipment.
VFAIF will not fund stand-alone business entities without a food retail component or food retail partner, traditional food banks/food pantries, farm/production equipment or expenses, or the purchase of land.
Mandatory Requirements
Projects must meet the following requirements to be considered for funding:
- Be located in the Commonwealth of Virginia
- Have a retail component where consumers can purchase fresh meats, seafood, dairy, produce, and/or healthy food options
- Directly serve residents within low-income, low-access communities
- Demonstrate a history of community engagement, work in the community, and community support for the project
- Accept SNAP benefits and offer Virginia Fresh Match incentives
- Purchase a minimum of 25% of fresh products from Virginia’s small, beginning, limited resource, Veteran, and/or socially disadvantaged farmers and ranchers (as designated by USDA/ERS ers.usda.gov)
Application Information
To apply, applicants must first complete the pre-proposal and schedule a call with VDACS program staff, followed by completion of the application. Successful applications will show a clear vision and plan, including a timeline and deliverables; will have a comprehensive budget; and will demonstrate a path to financial sustainability or profitability.
Contact Information
Keisha Williams
Virginia Department of Agriculture and Consumer Services
102 Governor Street
Richmond, VA 23219
Phone: 804-398-0382
[email protected]
Additional information available from the Virginia Department of Agriculture and Consumer Services.
VIRGINIA JOBS INVESTMENT PROGRAM
VIRGINIA ECONOMIC DEVELOPMENT PARTNERSHIP
The Virginia Jobs Investment Program (VJIP) is a discretionary program that provides consultative services and funding to companies creating new jobs or experiencing technological change to reduce the human resource development costs for new companies, expanding companies, and companies retraining their employees.
Eligibility Requirements
All VJIP programs are limited to companies that create basic employment for the Commonwealth. These businesses or functions must directly or indirectly derive 51% or more of their revenue from out-of-state sources, as determined by VEDP. Qualifying industry sectors include:
- Corporate HQs
- Distribution Centers
- Information Technology
- Manufacturing
- Research and Development
- Shared Service Centers.
The project's average wage compared to the prevailing average wage of the locality, among other criteria, is considered when determining the VJIP grant amount. Only full-time jobs paying at least 135% of the federal minimum wage and qualifying for benefits are eligible for funding.
While competition with another state or country is only a criteria for the VJIP New Jobs Program, the VJIP incentive is intended to induce decision making. Therefore, a VJIP incentive will not be approved for a project that has already been announced publicly.
At the discretion of VEDP, jobs may include teleworking positions, held by Virginia residents, who are employees of the recipient company or its affiliates.
Virginia New Jobs Program: This program supports expanding or newly locating Virginia companies that have more than 250 employees company-wide. To qualify for assistance under the Virginia New Jobs Program, a company must be:
- Considering another state or country for the new location or expansion.
- Creating at least 25 net new full-time jobs within 12 months from the date of the first hire.
- Making a new capital investment of at least $1 million associated with the location or expansion.
Small Business New Jobs Program: This program supports expanding or newly locating Virginia companies that have 250 employees or fewer company-wide. To qualify for assistance, a company must be:
- Creating at least five net new full-time jobs within 12 months from the date of the first hire.
- Making a new capital investment of at least $100,000 associated with the start-up or expansion.
To determine eligibility, contact VEDP.
Application Information
- A Business Manager meets with the company to gather and analyze information about the expansion or location project, understand the company’s recruitment and training needs, and determine eligibility. The Business Manager will work with the company to begin a VJIP application.
- A Business Manager develops an estimated budget for the project, taking into consideration the cost of the project’s recruiting and training efforts, the project’s average wage compared to the locality’s prevailing average wage, the competitiveness of the project, the distress level of the locality, the amount of capital investment, other state incentive support, local support, and the project’s industry sector. Preliminary approval is then obtained from the Secretary of Commerce and Trade, and a proposal is developed, if needed, for the company’s consideration.
- Once the company makes a decision for Virginia, a Business Manager works with the company to finalize a VJIP application. All projects are subject to final approval from the Secretary of Commerce and Trade.
- Upon approval of the company’s application, VEDP sends the company a commitment letter confirming the amount to be paid to the company for each net new full-time employee hired or existing full-time employee retrained.
- If desired, a press release is issued and/or an announcement event is scheduled. Although it is not required that economic development projects receiving VJIP funding be publicly announced, the office of the Governor of Virginia appreciates the opportunity to share the good news of business growth in our communities and increase awareness in the community of the company’s presence.
- Once the company reaches the minimum number of net new hires or retrained employees (according to the program for which they applied), the company submits a Reimbursement Request Form to their Business Manager. The Business Manager continues to work with the company to issue reimbursements until all projected net new hiring or employee retraining has been achieved or until the project performance period is complete, whichever happens first. Employment and capital investment commitments will be verified and monitored by VEDP for the duration of the project.
- The Business Manager will continue facilitating connections with the appropriate local, regional, and state resources for human capital needs during the company’s VJIP project cycle.
Contact Information
Tim Stuller
Virginia Economic Development Partnership
901 East Cary Street
Richmond, VA 23219
Phone: 804-545-5733
[email protected]
Additional information available from the Virginia Economic Development Partnership.
VIRGINIA TALENT ACCELERATOR PROGRAM
VIRGINIA ECONOMIC DEVELOPMENT PARTNERSHIP
The Virginia Talent Accelerator Program, provided by VEDP and the Virginia Community College System, delivers customized training and recruitment solutions at no cost to eligible new and expanding companies in Virginia as an incentive for job creation. Eligibility requires significant job creation and capital investment, determined case-by-case by VEDP. Projects must be in competition with other states or countries and create a specified number of new jobs within the first year. For further details, contact Mike Grundmann at 804.545.5782 or [email protected].
Additional information available from the Virginia Economic Development Partnership.
WORKER TRAINING TAX CREDIT
VIRGINIA DEPARTMENT OF TAXATION
The Worker Training Tax Credit offers a 35% tax credit for eligible training provided to qualified workers, applicable against several Virginia state taxes. Eligible training includes courses from the Commonwealth’s Eligible Training Provider list, resulting in workforce credentials, and apprenticeship agreements approved by the Commissioner of Labor and Industry. Manufacturing training for middle and high school students also qualifies. For more information, contact the Virginia Department of Labor and Industry apprenticeship representative. The total credit available is limited to $1 million annually, and if the total exceeds this, it will be prorated. For more details, reach out to the Tax Credit Unit at the Virginia Department of Taxation at 804.367.8037.
Additional information available from the Virginia Economic Development Partnership.
WORKFORCE DEVELOPMENT AND TRAINING FUND
VIRGINIA COALFIELD ECONOMIC DEVELOPMENT AUTHORITY
The VCEDA Workforce Development and Training Fund, funded by the Coalfield Employment Enhancement Tax Credit, provides loans and grants for workforce development and training in Southwest Virginia's e-Region. This fund is related to the VCEDA Coalfield Revolving Loan Fund. For further information on VCEDA’s funding programs and how to apply, you can call 800.735.9999.
Additional information available from the Virginia Coalfield Economic Development Authority.
AEROSPACE ENGINE MANUFACTURING PERFORMANCE GRANT PROGRAM
VIRGINIA ECONOMIC DEVELOPMENT PARTNERSHIP
Any qualified manufacturer in an eligible county shall be eligible to receive a grant each fiscal year from a fund entitled the Aerospace Engine Manufacturing Performance Grant Fund contingent upon the qualified manufacturer meeting the requirements for the aggregate number of new full-time jobs created and the substantial retention of the same and amount of the capital investment made and substantially retained as set forth in the memorandum of understanding.
AGRICULTURAL BEST MANAGEMENT PRACTICES CREDIT
VIRGINIA DEPARTMENT OF TAXATION
An income tax credit is available to farmers, growers, ranchers, or others engaged in agricultural production for market and have a soil conservation plan or resource management plan in place approved by the local and water conservation district.
AGRICULTURAL SALES TAX EXEMPTIONS
VIRGINIA DEPARTMENT OF TAXATION
Virginia law allows businesses to purchase things without paying sales tax if they or their purchase meet certain criteria.
BARGE AND RAIL USAGE TAX CREDIT
VIRGINIA DEPARTMENT OF TAXATION
This program provides a tax credit for international trade facilities operating in Virginia that moves cargo by barge or train, instead of by truck or other motor vehicles.
BIODIESEL AND GREEN FUELS PRODUCER CREDIT
VIRGINIA DEPARTMENT OF TAXATION
A credit is available for Virginia biodiesel and green diesel fuel producers who produce up to two million gallons of fuel per year. This credit is only available during the first 3 years of production.
BMP TAX CREDIT
VIRGINIA DEPARTMENT OF CONSERVATION AND RECREATION
Producers may take credit against state income tax for actual out-of-pocket expenses for agricultural BMPs.
BUSINESS MICROLOAN
VIRGINIA SMALL BUSINESS FINANCING AUTHORITY
This is a direct loan from the VSBFA to the business client that does not require a participation in the transaction. It is an ideal tool for bankers who are faced with business loan requests for very small amounts where the bank would prefer to refer the client to an alternative source of funds.
CHILD CARE FINANCING PROGRAM
VIRGINIA SMALL BUSINESS FINANCING AUTHORITY
The Virginia Small Business Financing Authority's (VSBFA) Child Care Financing Program (CCFP) is designed to assist Virginia child care providers in obtaining financing for fixed asset needs and educational materials.
CLEAN ENERGY LENDING
VIRGINIA COMMUNITY CAPITAL
Our clean energy lending products support our mission to increase access to clean energy and renewable power projects. VCC offers a variety of financing options in the energy efficiency and renewables sector.
COMMERCIAL AND INDUSTRIAL SALES AND USE TAX EXEMPTIONS
VIRGINIA DEPARTMENT OF TAXATION
Virginia law allows businesses to purchase things without paying sales tax if they or their purchase meet certain criteria, and Virginia offers sales and use tax exemptions for eligible equipment used directly in manufacturing and research and development operations.
COMMONWEALTH COMMERCIALIZATION FUND (CFF)
VIRGINIA INNOVATION PARTNERSHIP CORPORATION
The Virginia Innovation Partnership Corporation (VIPC) Commonwealth Commercialization Fund (CCF) private sector program provides grants up to $75,000 to high-potential, Virginia-based, for-profit technology companies at the proof-of-concept, product development, or another early stage of commercialization. CCF funding supports technology and market validation efforts that include but arena limited to: development of prototypes or a minimum viable products (MVPs), customer pilots, and intellectual property protection. A minimum one-to-one match is required. Project timelines are anticipated to be 6-12 months. Applications will be accepted and reviewed on a rolling basis, and awards will be made throughout the year.The Virginia Innovation Partnership Corporation (VIPC) Commonwealth Commercialization Fund (CCF) higher education program provides grant funding to Virginia public and private colleges and universities, as well as eligible nonprofit Virginia-based research institutes. CCF higher education grants range from $75,000 to $300,000 across three tiers, with each tier supporting a more advanced stage of commercialization and technology readiness level (TRL). Each grant requires a minimum one-to-one match and its period of performance is expected to be sufficient to accomplish two to three key milestones (typical duration: 6-24 months). Applications will be accepted and reviewed on a rolling basis, and awards will be made throughout the year.
COMMONWEALTH'S DEVELOPMENT OPPORTUNITY FUND
VIRGINIA ECONOMIC DEVELOPMENT PARTNERSHIP
The Commonwealths Development Opportunity Fund (COF) is a fund to be employed at the Governors discretion to secure a company location or expansion in Virginia. Administered by the Virginia Economic Development Partnership (VEDP), the COF serves as a final resource for Virginia in the face of serious competition from other states or countries.
CONSERVATION TILLAGE EQUIPMENT AND PRECISION AGRICULTURE EQUIPMENT CREDIT
VIRGINIA DEPARTMENT OF TAXATION
Individuals and corporations that invest in conservation tillage equipment for the purpose of farming may claim this credit.
DATA CENTER RETAIL SALES & USE TAX EXEMPTION
VIRGINIA ECONOMIC DEVELOPMENT PARTNERSHIP
Virginia offers a data center retail sales and use tax exemption (DCRSUT Exemption) on qualifying computer equipment or enabling software purchased or leased for use in certain data centers in the Commonwealth meeting minimum investment and job creation requirements as outlined below.
EDUCATION IMPROVEMENT SCHOLARSHIPS TAX CREDITS PROGRAM
VIRGINIA DEPARTMENT OF EDUCATION
The Education Improvement Scholarships Tax Credits Program provides state tax credits for persons or businesses making monetary or marketable securities donations to foundations that provide scholarships to eligible students and children attending eligible private schools and eligible nonpublic pre-kindergarten programs.
FARM WINERIES AND VINEYARDS TAX CREDIT
VIRGINIA DEPARTMENT OF TAXATION
An income tax credit equal to 25% of what you spent on qualified capital expenditures related to starting or improving the farm winery or vineyard.
FOOD CROP DONATION TAX CREDIT
VIRGINIA DEPARTMENT OF TAXATION
This is an individual and corporate income tax credit for certain persons engaged in the business of farming for growing food crops in the Commonwealth and donating such crops to a nonprofit food bank.
FOREIGN TRADE ZONES (FTZS)
VIRGINIA ECONOMIC DEVELOPMENT PARTNERSHIP
Foreign trade zones allow businesses to defer paying U.S. Customs duties on imported goods held within the zones until the goods enter the United States for domestic consumption. No duties are paid if goods are re-exported. Companies also receive the benefit of not having to pay duties on broken or scrapped product. Businesses are allowed to store goods within FTZs for an unlimited period of time. They are also allowed to manufacture products within FTZs and pay duties at the duty rate of either the foreign parts used or on the finished product, whichever is most advantageous to the company.
GOVERNOR'S AGRICULTURE AND FORESTRY INDUSTRIES DEVELOPMENT (AFID) FUND
VIRGINIA DEPARTMENT OF AGRICULTURE AND CONSUMER SERVICES
The Governor's Agriculture and Forestry Industries Development (AFID) Fund is a discretionary, performance-based economic development incentive specifically for agriculture and forestry value-added or processing projects.
GOVERNOR'S MOTION PICTURE OPPORTUNITY FUND
VIRGINIA FILM OFFICE
The Governors Motion Picture Opportunity Fund (GMPOF) provides grants for production companies and studios that produce projects in the Commonwealth using Virginia employees, resources, goods and services.
GREEN AND ALTERNATIVE ENERGY JOB CREATION TAX CREDIT
VIRGINIA DEPARTMENT OF TAXATION
A $500 income tax credit for each new green job created. You can claim credit for up to 350 new jobs.
HISTORIC REHABILITATION TAX CREDIT
VIRGINIA DEPARTMENT OF HISTORIC RESOURCES
Tax Credit program provides state tax credits to property owners who undertake the rehabilitation of historic buildings in compliance with the Secretary of Interior Standards for Rehabilitation. Through the federal and state rehabilitation tax credit programs, property owners are given substantial incentives for private investment in preservation, resulting in enormous advantages to the public. The preservation of these structures encourages a connection to the past, enhances the identity of a community, and stimulates private investment.
INTERNATIONAL TRADE FACILITY TAX CREDIT
VIRGINIA DEPARTMENT OF TAXATION
There are 2 types of credits available under this section. You can choose which of these you like to apply for, but cant apply for both.The Port Jobs Tax Credit is an income tax credit equal to $3,500 per new, permanent full-time job created by your increase in shipments through an ITF.The Port Investment Tax Credit is an income tax credit equal to 2% of your capital investment in an ITF.
LIVABLE HOME TAX CREDIT
VIRGINIA DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT
The Virginia Livable Home Tax Credit (LHTC) program provides state tax credits for the purchase of new units or the retrofitting of existing housing units.
MAJOR BUSINESS FACILITY JOB TAX CREDIT
VIRGINIA DEPARTMENT OF TAXATION
Qualified companies locating or expanding in Virginia are eligible to receive a $1,000 income tax credit for each new full-time job created over a threshold number of jobs beginning in the first taxable year following the taxable year in which the major business facility commenced or expanded its operations.
MAJOR ELIGIBLE EMPLOYER GRANT PROGRAM (MEE)
VIRGINIA ECONOMIC DEVELOPMENT PARTNERSHIP
The Major Eligible Employer Grant Program (MEE) is a discretionary program used to encourage major basic employers to invest in Virginia and to provide a significant number of stable employment opportunities by either making a significant expansion to existing operations or constructing new ones. There must be an active and realistic competition between Virginia and another state or country for attracting the project.
MAJOR R&D EXPENSES TAX CREDIT
VIRGINIA DEPARTMENT OF TAXATION
Virginia allows an individual and corporate income tax credit for incurring more than $5 million of Virginia qualified research and development expenses during a taxable year.
MEDIA-RELATED SALES AND USE TAX EXEMPTIONS
VIRGINIA DEPARTMENT OF TAXATION
Virginia law allows businesses to purchase things without paying sales tax if they or their purchase meet certain criteria.
NEW COMPANY INCENTIVE PROGRAM
VIRGINIA ECONOMIC DEVELOPMENT PARTNERSHIP
Eligible companies in traded sector industries that have no payroll or property in Virginia prior to January 1, 2018 will pay zero percent (0%) corporate Virginia state income tax on the income associated with their new Virginia presence.
PORT OF VIRGINIA ECONOMIC AND INFRASTRUCTURE DEVELOPMENT GRANT (POV GRANT)
VIRGINIA PORT AUTHORITY
The Port of Virginia Economic and Infrastructure Development Grant Program (POV Grant) provides a grant to certain Qualified Companies to incentivize companies to locate new maritime-related employment centers or expand existing centers in specified localities in order to encourage and facilitate the growth of The Port of Virginia in accordance with criteria established by legislation.
PORT VOLUME INCREASE TAX CREDIT
VIRGINIA PORT AUTHORITY
Virginia's Port Volume Increase Tax Credit benefits manufacturing, distribution, agriculture, and mineral and gas companies that utilize Virginias port facilities.
QUALIFIED EQUITY AND SUBORDINATED DEBT INVESTMENTS CREDIT
VIRGINIA DEPARTMENT OF TAXATION
This credit is available to individual and fiduciary taxpayers making a qualified investment in the form of equity" or "subordinated debt" in a pre-qualified small business venture.
RAIL INDUSTRIAL ACCESS PROGRAM
VIRGINIA DEPARTMENT OF RAIL AND PUBLIC TRANSPORTATION
The Rail Industrial Access (RIA) program provides funds to construct railroad tracks for new or substantially expanded industrial and commercial projects having a positive impact on economic development in Virginia.
REAL ESTATE LENDING
LOCUS
Locus provides financing for commercial real estate and affordable and workforce housing, including multi-family developments, commercial properties, medical centers, healthy food grocers, and much more. We have a proven track record of providing innovative financing options for harder-to-structure projects where other lenders and financing institutions might not be willing to lend.
REFUNDABLE RESEARCH AND DEVELOPMENT EXPENSES TAX CREDIT
VIRGINIA DEPARTMENT OF TAXATION
This program allows a refundable tax credit for qualified research expenses.
REGIONAL INNOVATION FUND (RIF)
VIRGINIA INNOVATION PARTNERSHIP CORPORATION
The Regional Innovation Fund (RIF) is a state-funded program that awards competitive grants for operating and programmatic support to Virginia-based entrepreneurial support organizations (ESOs) that serve science and technology-based enterprises and ecosystems. RIF awardees are eligible to apply for subsequent years of funding, provided that they continue to achieve projected outcomes and impacts. The RIF is administered by VIPC Entrepreneurial Ecosystems Division (EED).
RENEWABLE ENERGY FUND
VIRGINIA COALFIELD ECONOMIC DEVELOPMENT AUTHORITY
The VCEDA Renewable Energy Fund is a $1 million fund established from a portion of the Coalfield Revolving Loan Fund and Coalfield Workforce Development and Training Fund to assist renewable energy projects and promote the economic diversification of Southwest Virginia e-Region and made possible by revenue generated from the Coalfield Employment Enhancement Tax Credit.
RIPARIAN FOREST BUFFER TAX CREDIT
VIRGINIA DEPARTMENT OF FORESTRY
Landowners who harvest timber and retain a streamside buffer may be eligible for a tax credit for a portion of the value of the timber retained as a buffer.
TOBACCO REGION OPPORTUNITY FUND (TROF)
VIRGINIA TOBACCO REGION REVITALIZATION COMMISSION
The purpose of the TROF program is to help make localities in the Tobacco Region more attractive to potential business expansion or attraction projects. It accomplishes this goal by providing performance-based monetary grants and loans to localities for the purposes of supporting specific projects.
TOURISM CAPITAL IMPROVEMENT MATCHING FUND
VIRGINIA COALFIELD ECONOMIC DEVELOPMENT AUTHORITY
The Tourism Capital Improvement Matching Fund is a loan and grant program designed to assist with the development of tourism-related capital improvements that are part of larger regional tourism initiatives that will enhance the regions economy.
TRADE SHOW PROGRAM
VIRGINIA ECONOMIC DEVELOPMENT PARTNERSHIP
With Virginias Trade Show Program, eligible companies can receive up to $10,000 in reimbursements to participate in international trade show exhibits.
TRANSPORTATION PARTNERSHIP OPPORTUNITY FUND
VIRGINIA DEPARTMENT OF TRANSPORTATION
Transportation Partnership Opportunity Fund (TPOF) assistance is awarded at the discretion of the Governor in the form of grants, revolving loans, or other financial assistance to an agency or local government of the Commonwealth for activities associated with eligible transportation projects.
VIRGINIA CATALYST GRANT FUNDING
VIRGINIA BIOSCIENCES HEALTH RESEARCH CORPORATION (VIRGINIA CATALYST)
The Virginia Catalyst conducts formalized, competitive Grant Funding Rounds to encourage collaborative partnerships between two or more investigators from Virginia research universities and an industry partner
VIRGINIA ECONOMIC DEVELOPMENT INCENTIVE GRANT
VIRGINIA ECONOMIC DEVELOPMENT PARTNERSHIP
The Virginia Economic Development Incentive Grant program (VEDIG) assists and encourages companies to invest and create new employment opportunities by locating significant headquarters, administrative, or service sector operations in Virginia.
VIRGINIA ENTERPRISE ZONE (VEZ) PROGRAM
VIRGINIA DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT
The Virginia Enterprise Zone (VEZ) program is a partnership between state and local government that encourages job creation and private investment. VEZ accomplishes this by designating Enterprise Zones throughout the state and providing two grant-based incentives, the Job Creation Grant (JCG) and the Real Property Investment Grant (RPIG), to qualified investors and job creators within those zones, while the locality provides local incentives.
VIRGINIA INVESTMENT PERFORMANCE GRANT PROGRAM (VIP)
VIRGINIA ECONOMIC DEVELOPMENT PARTNERSHIP
The Virginia Investment Performance Grant (VIP) encourages continued capital investment by existing Virginia companies, resulting in added capacity, modernization, increased productivity, or the creation, development, and utilization of advanced technology.
VIRGINIA LEADERS IN EXPORT TRADE (VALET)
VIRGINIA ECONOMIC DEVELOPMENT PARTNERSHIP
VALET is a two-year international business acceleration program that offers a combination of capital resources provided by the Commonwealth and professional services from private-sector partners.
VIRGINIA MOTION PICTURE TAX CREDIT FUND
VIRGINIA FILM OFFICE
The Virginia Department of Taxation and the Virginia Film Office have developed the following guidelines specifically for the Virginia Motion Picture Tax Credit Fund but these guidelines will also apply to the Motion Picture Opportunity Fund.
VIRGINIA OFFSHORE WIND SUPPLIER DEVELOPMENT GRANT (VOWSD)
VIRGINIA ECONOMIC DEVELOPMENT PARTNERSHIP
The Virginia Offshore Wind Supplier Development Grant (VOWSD) encourages existing Virginia companies to enter the offshore wind supply chain. The program targets existing manufacturers or manufacturing-adjacent companies who have operated in Virginia for at least one year and have under 250 full-time employees.
VIRGINIA VENTURE PARTNERS
VIRGINIA INNOVATION PARTNERSHIP CORPORATION
Formed in 2005, Virginia Venture Partners (VVP) places equity investment in Virginia founders and takes Limited Partner positions in venture capital funds to generate significant economic returns for entrepreneurs, General Partners (GPs), co-investors, and the Commonwealth of Virginia. Investments for Start-Ups: VVP places equity investments in Virginia’s leading technology, energy, life science and scale-able non- tech start-ups through a family of seed and early-stage investment funds.Fund-of-Fund Investment: VVP Fund of Funds, invests in venture capital fund managers committed to the Commonwealth of Virginia and aligned with VVP seed stage investment thesis.
WASTE MOTOR OIL BURNING EQUIPMENT CREDIT
VIRGINIA DEPARTMENT OF TAXATION
A business that operates a facility in Virginia that accepts waste motor oil from the public is allowed a tax credit equal to 50% of the purchase price paid for equipment used to exclusively burn waste motor oil.
WORKER RETRAINING TAX CREDIT
VIRGINIA DEPARTMENT OF TAXATION
Effective for Taxable Year 2018 and thereafter, taxpayers may claim the Worker Retraining Tax Credit using two different bases:For expenditures paid or incurred for eligible worker retraining;For direct costs incurred during the taxable year in conducting orientation, instruction, and training of certain students in Virginia relating to the manufacturing activities undertaken by the business
Washington
BUSINESS LOANS
WASHINGTON STATE DEPARTMENT OF COMMERCE/CRAFT3
Craft3 provides loans to finance businesses including those in start-up and expansion phases.
Eligibility Requirements
Existing businesses that have:
- been unable to access additional business credit;
- experienced financial stress during the recession, but have managed through it;
- prepared a plan and are ready to put credit to productive use; and
- anticipated job creation in the next twelve months.
Provides capital for:
- start up and acquisition
- commercial real estate
- working capital
- debt restructuring
- equipment
- project financing
Application Information
Please visit the program website for application details.
Additional information available from the Washington State Department of Commerce/Craft3.
JOB SKILLS PROGRAM (JSP)
WASHINGTON STATE BOARD FOR COMMUNITY AND TECHNICAL COLLEGES
The Job Skills Program (JSP) provides funding for customized, short-term and job-specific training for eligible businesses using dollar-for-dollar matching grants. Grants are awarded to educational institutions that partner with employers to undertake a JSP project. The participating employer must match the grant amount with cash or in-kind program support.
Eligibility Requirements
Business partners must be a private corporation, institution, firm, person, group or association concerned with commerce, trade, manufacturing or the provision of services within Washington; or a public or nonprofit hospital licensed by the Department of Social Services (DSHS).
Non-profit organizations meeting the description above are eligible. Government and municipal agencies including tribal governments are not eligible.
Application Information
Call the training contact at your nearest community or technical college to discuss your specific training needs.
The college will work with you to submit an application to the State Board for Community and Technical Colleges (SBCTC) for the grant or loan. If approved, funds will be awarded to the college providing training services to your organization.
Funds are awarded on a first-approved, rolling basis throughout the fiscal year.
Danny Marshall
Washington State Board for Community and Technical Colleges
Workforce Education Department
1300 Quince St SE
Olympia, WA 98504-2495
Phone: 360-704-4332
[email protected]
SMALL BUSINESS B&O TAX CREDIT
WASHINGTON DEPARTMENT OF REVENUE
Businesses below a certain B&O tax liability are entitled to a credit.
Eligibility Requirements
You can take the Small Business Tax Credit [720] if:
- your taxable income was 50% or more reported under Service and Other Activities, Gambling Contests of Chance, For Profit Hospitals, and/or Scientific R&D and
- your total B&O tax liability is below:
- $141 for monthly taxpayers
- $421 for quarterly taxpayers
- $1,681 for annual taxpayers
You can take the Small Business Tax Credit [815] if:
- your taxable income was less than 50% reported under Service and Other Activities, Gambling Contests of Chance, For Profit Hospitals, and/or Scientific R&D and
- your total B&O tax liability is below:
- $71 for monthly taxpayers
- $211 for quarterly taxpayers
- $841 for annual taxpayers
Application Information
If you file electronically, our system will automatically calculate your small business credit.
Additional information available from the Washington Department of Revenue.
SMALL BUSINESS LOANS - COLLATERAL SUPPORT PROGRAM
WASHINGTON DEPARTMENT OF COMMERCE
The Collateral Support Program (CSP) provides collateral support for the bridge" loans with reasonable expectation of payoff withing 18 months."
Eligibility Requirements
Most small business types are allowed to participate in the CSP.
Most SBA 504 loan purposes qualify for the Collateral Support Program. There are a few purposes that make a loan ineligible for enrollment in the CSP, including certain speculative activities and passive real estate investment, repayment of delinquent taxes unless a payment plan is in place with the taxing authority, and reimbursement of any funds owed to the owner or equity injections by investees. Please talk to your lender to see if your business needs qualify.
Business term loans and lines of credit which may include:
- Acquisition of a place of business
- Construction, or renovation of a place of business
- Working capital
- Equipment/inventory
- Acquisition, construction or renovation of a place of business
- Franchise fees
Application Information
Interested businesses may apply for a loan with one of the lender partners or ask their current bank if they are a participant. More application information can be found on the program website.
There are no CSP application forms to complete.
Additional information available from the Washington Department of Commerce.
THRIVE!
WASHINGTON DEPARTMENT OF COMMERCE
Thrive! gives you access to experts, analytics and best practices that are usually only available to the largest companies.
Eligibility Requirements
- Private, for-profit companies that have been operating in a Washington State community for at least two years.
- Employ between 6 and 99 employees (pre-COVID).
- Generate $1 million to $25 million in annual revenue (pre-COVID).
- Have both an appetite and aptitude to grow.
- Provide products and services beyond the local area.
Application Information
For information on how to apply email or call the agency.
Susan Herr
Washington Department of Commerce
10 North Post St., Ste 445
Seattle, WA 99121
Phone: 509-220-6048
[email protected]
Additional information available from the Washington Department of Commerce.
WASHINGTON SMALL BUSINESS CREDIT INITIATIVE
WASHINGTON DEPARTMENT OF COMMERCE
Working with private partners, Commerce expects to leverage new private capital (10:1 ratio) to expand lending and investment in small businesses and entrepreneurship, build small business ecosystems and create jobs.
Eligibility Requirements
A portion of all program funding is targeted towards Very Small Businesses (VSB) and businesses owned by Socially and Economically Disadvantaged Individuals (SEDI). A VSB refers to a business with fewer than 10 employees at the time of loan application and or investment. It includes independent contractors and sole proprietors. As referenced in the SSBCI Capital Program Policy Guidelines (PDF), “meeting the needs of SEDI-owned businesses” means that the SSBCI funds are expended for loans, investments or other credit or equity support to: business enterprises that certify that they are owned and controlled by individuals who have had their access to credit on reasonable terms diminished as compared to others in comparable economic circumstances; business enterprises that certify that they are owned and controlled by individuals whose residences are in CDFI Investment Areas; business enterprises that certify that they will operate a location in a CDFI Investment Area; business enterprises that are located in CDFI Investment Areas
Application Information
Small businesses do not apply directly to Commerce for funding. Applications will be made through fund administrators and or program participating lenders. A list of participating lending partners will be posted in the near future on the SSBCI webpage as the programs come online.
Linda Womack
Washington Department of Commerce
2001 Sixth Avenue, Suite 2600
Seattle, WA 98121
Phone: 206-256-6100
[email protected]
Additional information available from the Washington Department of Commerce.
NON-RECOURSE" LOANS AND BONDS"
WASHINGTON ECONOMIC DEVELOPMENT FINANCE AUTHORITY
The Washington Economic Development Finance Authority (WEDFA) finances businesses through non-recourse loans and bonds. WEDFA finances businesses through non-recourse" loans and bonds.
B&O CREDIT FOR PREPRODUCTION DEVELOPMENT EXPENDITURES
WASHINGTON DEPARTMENT OF REVENUE
This provides a tax incentive for the aerospace industry.
B&O CREDIT FOR PROPERTY/LEASEHOLD TAXES PAID ON AEROSPACE BUSINESS FACILITIES
WASHINGTON DEPARTMENT OF REVENUE
This provides a tax incentive for the aerospace industry.
B&O TAX CREDIT FOR NEW EMPLOYEES IN MANUFACTURING AND RESEARCH & DEVELOPMENT IN RURAL COUNTIES
WASHINGTON DEPARTMENT OF REVENUE
Offers incentive to rural counties/community empowerment zones.
B&O TAX CREDIT FOR PROPERTY TAX ON ALUMINUM SMELTER
WASHINGTON DEPARTMENT OF REVENUE
Incentives for those in the aluminum smelting industry.
B&O TAX RATE FOR AEROSPACE BUSINESSES
WASHINGTON DEPARTMENT OF REVENUE
This provides a tax incentive for the aerospace industry.
B&O TAX/PUBLIC UTILITY TAX CREDIT FOR ELECTRICITY, NATURAL GAS, OR MANUFACTURED GAS SOLD TO ALUMINUM SMELTERS
WASHINGTON DEPARTMENT OF REVENUE
Incentives for those in the aluminum smelting industry.
B+O TAX CREDIT FOR NEW EMPLOYEES IN MANUFACTURING AND R&D IN RURAL COUNTIES
WASHINGTON DEPARTMENT OF REVENUE
Offers incentive to rural counties/community empowerment zones.
BOND CAP ALLOCATION PROGRAM
WASHINGTON STATE DEPARTMENT OF COMMUNITY, TRADE AND ECONOMIC DEVELOPMENT
The Bond Cap Allocation Program authorizes the issuance of tax-exempt, private-activity bonds.
BROKERED NATURAL GAS USE TAX EXEMPTION
WASHINGTON DEPARTMENT OF REVENUE
Incentives for those in the aluminum smelting industry.
BROWNFIELDS REVOLVING LOAN FUND
WASHINGTON DEPARTMENT OF COMMERCE
The Brownfield Revolving Loan Fund (BRLF) Program provides low interest loans and/or grants to local governments, non-profits, tribes, ports, and private businesses undertaking clean-up of contaminated properties.
COMMUNITY CAPITAL FACILITIES - BEHAVIORAL HEALTH FACILITIES
WASHINGTON DEPARTMENT OF COMMERCE
The Department of Commerce manages funding awards through direct appropriation and competitive processes that establish new capacity for behavioral health services by building or rehabilitating facilities.
COMMUNITY CAPITAL FACILITIES - BUILDING COMMUNITIES FUND
WASHINGTON DEPARTMENT OF COMMERCE
State grants are available to nonprofit, community-based organizations to defray eligible capital costs to acquire, construct, renovate or rehabilitate nonresidential community and social service centers.
COMMUNITY CAPITAL FACILITIES - BUILDING FOR THE ARTS
WASHINGTON DEPARTMENT OF COMMERCE
Building for the Arts was created by the Legislature in 1991 to award grants to performing arts, art museum, and cultural organizations. The program awards grants to performing arts, art museum, and cultural organizations for as much as 33 percent state match of eligible project costs for acquisition, construction, and/or major renovation of capital facilities. Applications are every two years.
COMMUNITY CAPITAL FACILITIES - EARLY LEARNING PROGRAM
WASHINGTON DEPARTMENT OF COMMERCE
Commerce will issue capital grants through a competitive process to K-12 school districts and eligible organizations to create additional early learning facilities. The Early Learning Facilities program supports the state commitment of developing more high quality early learning opportunities for low-income children.
COMMUNITY CAPITAL FACILITIES - YOUTH RECREATIONAL FACILITIES
WASHINGTON DEPARTMENT OF COMMERCE
State grants are available to nonprofit organizations to help defray eligible capital costs for acquisition, construction and renovation of nonresidential youth recreational facilities.
COMMUNITY ECONOMIC REVITALIZATION BOARD (CERB)
WASHINGTON DEPARTMENT OF COMMERCE
CERB provides funding to local governments and federally-recognized tribes for public infrastructure which supports private business growth and expansion.
COMMUTE TRIP REDUCTION PROGRAM - B&O TAX/PUBLIC UTILITY TAX CREDIT
WASHINGTON DEPARTMENT OF REVENUE
Support employers who hire eligible employees or locate in an eligible area.
CONSTRUCTION OF NEW FACILITIES USED FOR AIRPLANE REPAIR AND MAINTENANCE - RETAIL SALES/USE TAX EXEMPTION
WASHINGTON DEPARTMENT OF REVENUE
This provides a tax incentive for the aerospace industry.
ELECTRIFICATION OF TRANSPORTATION SYSTEMS PROGRAM (ETS)
WASHINGTON DEPARTMENT OF COMMERCE
The Electrification of Transportation Systems Program (ETS) provides grants to Washington local governments, Tribal Governments, and retail electric utilities for electric vehicle charging infrastructure.
EVERGREEN MANUFACTURING GROWTH GRANTS
WASHINGTON DEPARTMENT OF COMMERCE
Grants will be awarded to eligible manufacturing and research and development businesses as well as organizations defined as innovation clusters in the funding application. Each grantee will be eligible for a grant between $200,000 and $400,000.
EXPORT VOUCHER PROGRAM
WASHINGTON DEPARTMENT OF COMMERCE
The State Export Voucher Program (STEP), funded in part by the US Small Business Administration, seeks to help eligible small businesses grow through exporting. STEP reimburses eligible export expenses up to $10,000 per company/per grant cycle, depending on the expense, committee review of export voucher applications, funds available, the number of applications submitted, and the merits of the applications.
FARMING & AGRICULTURE INCENTIVES
WASHINGTON DEPARTMENT OF REVENUE
Incentives, primarily tax exemptions, help businesses in the agriculture and farming industry.
FOOD MANUFACTURING INDUSTRY INCENTIVES
WASHINGTON DEPARTMENT OF REVENUE
Incentives for businesses in the food industry.
GENERAL MANUFACTURING INCENTIVES: MANUFACTURERS SALES AND USE TAX DEFERRAL - ELIGIBLE INVESTMENT PROJECTS
WASHINGTON DEPARTMENT OF REVENUE
The program provides support for manufacturers that construct projects.
HERITAGE BARN GRANTS
WASHINGTON DEPARTMENT OF ARCHAEOLOGY AND HISTORIC PRESERVATION
Heritage Barns constitute a public good in economic, social and historic terms, the program provides owners of designated Heritage Barns (or barns listed in the National Register of Historic Places or the Washington Heritage Register) grants to assist with stabilization and rehabilitation projects designed for the long-term care and preservation of listed structures.
HISTORIC CEMETERY GRANT PROGRAM
WASHINGTON DEPARTMENT OF ARCHAEOLOGY AND HISTORIC PRESERVATION
The capital grant program distributes $450,000 per biennium to cemeteries that preserve the history of those buried.
INDUSTRIAL SITE READINESS
WASHINGTON DEPARTMENT OF COMMERCE
The Industrial Site Readiness grant program is created to boost the state’s portfolio of project-ready sites and accelerate private investment. Any public entity such as county, city, port district, or local tribe that have ideally, but not required, completed early site assessments and are ready to take the next steps toward site readiness may apply.
INDUSTRIAL SYMBIOSIS GRANTS
WASHINGTON DEPARTMENT OF COMMERCE
Grants available for the research, development, and deployment of local waste coordination projects. Funded projects range from research and development to on-the-ground implementation.
INTERNATIONAL SERVICE ACTIVITIES B&O TAX CREDIT
WASHINGTON DEPARTMENT OF REVENUE
B&O tax credit for the creation of new employment positions dedicated to providing certain services to international customers. Credit applies to creating permanent full-time positions in international services located in a Community Empowerment Zone (CEZ) or designated International Services District. International services must be provided to persons domiciled outside the United States or be for use primarily outside this country. Credit amount: $3,000 per year for each qualified employment position created. Additionally, $3,000 in credit can be taken in each of the following four years if the position is maintained.
INTERNATIONAL SERVICES - B&O TAX CREDIT FOR NEW EMPLOYMENT
WASHINGTON DEPARTMENT OF REVENUE
Available to persons providing international services, such as computer; data processing; information; legal; accounting and tax preparation; engineering; architectural; business consulting; business management; public relations and advertising; surveying; geological consulting; real estate appraisal; or financial services in designated geographical areas.
LINKED DEPOSIT LOAN PROGRAM (LDP)
WASHINGTON STATE OFFICE OF MINORITY AND WOMEN'S BUSINESS ENTERPRISES
The Washington State Linked Deposit Loan Program links the deposit of state funds to loans made by participating financial institutions to qualified minority and women-owned businesses.
MISCELLANEOUS INCENTIVE PROGRAMS
WASHINGTON DEPARTMENT OF REVENUE
Provides incentives to various industries.
PROPERTY/LEASEHOLD TAX EXEMPTION FOR MANUFACTURERS OF BIOFUELS
WASHINGTON DEPARTMENT OF REVENUE
The program provides tax incentives and exemptions for those in the biofuel industry.
REDUCED B&O TAX RATE FOR ALUMINUM SMELTING
WASHINGTON DEPARTMENT OF REVENUE
Incentives for those in the aluminum smelting industry.
REDUCED B&O TAX RATE FOR MANUFACTURING WOOD BIOMASS FUEL
WASHINGTON DEPARTMENT OF REVENUE
The program provides tax incentives and exemption for those in the biofuel industry.
REDUCED B&O TAX RATE FOR TIMBER EXTRACTING AND MANUFACTURING
WASHINGTON DEPARTMENT OF REVENUE
Offers reduced tax rate for timber extracting and manufacturing. Extended to June 30, 2045 and expanded to include the manufacturing of mass timber products.
RENEWABLE ENERGY/GREEN INCENTIVES
WASHINGTON DEPARTMENT OF REVENUE
Offers tax and other incentives to renewable/green energy companies.
RESEARCH, DEVELOPMENT AND DEMONSTRATION PROGRAM RD&D - CLEAN ENERGY FUND (CEF)
WASHINGTON DEPARTMENT OF COMMERCE
This program is to provide match for federal and non-state funds for strategic research and development projects on new and emerging clean energy technologies.
RETAIL SALES AND USE TAX EXEMPTION FOR THE CONSTRUCTION OF NEW FACILITIES USED TO MANUFACTURE COMMERCIAL AIRPLANES, FUSE
WASHINGTON DEPARTMENT OF REVENUE
Retail sales and use tax exemption for the construction of new facilities used to manufacture commercial airplanes, fuselages or wings of commercial airplanes. This provides a tax incentive for the aerospace industry.
RETAIL SALES TAX CREDIT FOR STATE PORTION OF SALES PAID ON MATERIALS, EQUIPMENT, LABOR & SERVICES USED IN ALUMINUM SMELT
WASHINGTON DEPARTMENT OF REVENUE
Incentives for those in the aluminum smelting industry.
RURAL DATA CENTERS - SALES/USE TAX EXEMPTION FOR PURCHASES OF SERVER EQUIPMENT AND POWER INFRASTRUCTURE
WASHINGTON DEPARTMENT OF REVENUE
Support data centers located in rural areas.
SALES &USE TAX EXEMPTION FOR AEROSPACE BUSINESSES FOR COMPUTER HARDWARE/SOFTWARE/PERIPHERALS
WASHINGTON DEPARTMENT OF REVENUE
This provides a tax incentive for the aerospace industry.
SALES AND USE TAX EXEMPTION FOR MANUFACTURING MACHINERY & EQUIPMENT (M&E)
WASHINGTON DEPARTMENT OF REVENUE
Available to: Manufacturers and processors for hire performing manufacturing and R&D. Testing operation for a manufacturer and processor for hire.
SALES/USE TAX DEFERRAL-MANUFACTURING AND RESEARCH AND DEVELOPMENT IN QUALIFYING COUNTIES
WASHINGTON DEPARTMENT OF REVENUE
Effective July 1, 2022, persons conducting manufacturing and research and development activities in certain designated counties can apply for a sales and use tax deferral for certain investment projects.
SEMICONDUCTOR INDUSTRY INCENTIVES
WASHINGTON DEPARTMENT OF REVENUE
Manufacturing and research and development activities in counties outside of Greater Seattle area may qualify for a sales and use tax deferral on buildings, machinery and equipment.
SYRUP TAX CREDIT WASHINGTON
DEPARTMENT OF REVENUE
Retailers that pay syrup tax when buying carbonated beverage syrup to make carbonated fountain drinks can claim a B&O tax credit.
TOBACCO PRODUCTS/CIGAR TAX CREDIT
WASHINGTON DEPARTMENT OF REVENUE
This program provides a tax credit to distributors who first possess tobacco products in the State of Washington.
URBAN DATA CENTERS - SALES/USE TAX EXEMPTION FOR PURCHASES OF SERVER EQUIPMENT AND POWER INFRASTRUCTURE
WASHINGTON DEPARTMENT OF REVENUE
Support data centers located in urban areas.
WAREHOUSE INCENTIVE PROGRAMS
WASHINGTON DEPARTMENT OF REVENUE
Remittance of state sales tax for warehouses, grain elevators, and distribution centersQualifying activity: Sales tax paid on: Construction or expansion of warehouse or distribution center by at least 200,000 square feet.
WASHINGTON CUSTOMIZED EMPLOYMENT TRAINING PROGRAM - B& O TAX CREDIT
WASHINGTON DEPARTMENT OF REVENUE
Support employers who hire eligible employees or locate in an eligible area.
WASHINGTON CUSTOMIZED EMPLOYMENT TRAINING PROGRAM B&O TAX CREDIT
WASHINGTON DEPARTMENT OF REVENUE
Incentive supports employers who provide customized training to employees.
WASTE VEGETABLE OIL - SALES/USE TAX EXEMPTION ON PURCHASES FOR PERSONAL USE
WASHINGTON DEPARTMENT OF REVENUE
The program provides tax incentives and exemptions for those in the biofuel industry.
West Virginia
APPRENTICESHIP IN MOTION (AIM)
WEST VIRGINIA DEPARTMENT OF ECONOMIC DEVELOPMENT
The Apprenticeship In Motion (AIM) program promotes and expands registered, nontraditional apprenticeship activity in the Mountain State. This collaborative group of partners identifies, standardizes and develops courses that are needed statewide in order to increase and improve the registered apprenticeship programs within West Virginia. The AIM program provides a host of benefits to both businesses and individuals in West Virginia.
Eligibility Requirements
Apprenticeships are a combination of classroom and on-the-job training.
Companies develop apprenticeships (courses & on-the-job-training) specific to their unique needs. AIM connects these companies to resources for developing a quality workforce, and also assists with obtaining training dollar and methods to recruit, upskill and retain employees.
Application Information
For more information, contact the Department of Economic Development.
Additional information available from the West Virginia Department of Economic Development.
DIRECT LOAN PROGRAMS
WEST VIRGINIA ECONOMIC DEVELOPMENT AUTHORITY
The West Virginia Economic Development Authority can provide up to 45 percent for financing fixed assets by providing low-interest, direct loans to expanding state businesses and firms locating in West Virginia.
Eligibility Requirements
The following criteria are relative to both tiers of the Direct Lending Program:
Financial assistance is available to participate in the financing of fixed assets for creditworthy manufacturing concerns, distribution centers, technology-based service companies and other business classifications currently targeted by the West Virginia Development Office meeting WVEDA’s job creation and retention objectives. The applicant may be an existing or prospective West Virginia business.
WVEDA can participate up to 45% in eligible fixed assets related to real estate and buildings of qualifying projects and share a first lien on such assets with the participating lender, who also may participate up to 45%. The borrower must inject at least 10% equity into the project.
WVEDA can participate up to 40% in eligible fixed assets related to affixed machinery and equipment utilized in qualifying projects and share a first lien on such assets with the participating lender, who also may participate up to 40%. The borrower must inject a minimum of 20% equity into the qualifying costs of the project. Rolling stock, such as trucks and forklifts, is not eligible.
WVEDA can participate up to 35% in eligible special purpose equipment or customized equipment utilized in qualifying projects and share a first lien on such assets with the participating lender, who also may participate up to 35%. The borrower must inject a minimum of 30% equity into the qualifying costs of the project.
The WVEDA does not finance working capital or inventory under these programs and does not refinance existing debt.
A personal guarantee of any owner with 20% or more of the subject business is required. An Irrevocable Letter of Credit, with WVEDA as beneficiary, for the full amount of the WVEDA loan participation may be substituted for a personal guarantee. If the business has no controlling stockholders, alternative surety structure is needed. Applications are subject to review and approval based upon job creation, retention and economic benefits to the State of West Virginia, as well as credit evaluation by WVEDA.
WVEDA issues a “take out” commitment to provide funding upon the completion of the project, which includes completion of all construction and receipt and installation of all project equipment, as outlined in the commitment letter. Therefore, the applicant must submit evidence that interim financing is available in the event of WVEDA loan approval.
Application Information
The following information must be submitted to the WVEDA to determine if the project is eligible and the extent to which we may participate:
- A narrative description of your companies history as well as a description of the proposed project and how it benefits your operation.
- A breakdown of project costs including land acquisition (excluding existing improvements); building acquisition or other improvements; site preparation, utilities, roads, etc.; construction; renovation; and machinery and/or equipment (excluding rolling stock).
- Company financial statements for the past four year-ends (if applicable) as well as an interim company financial statement of the most recent month-end.
- Employment information including the current number of full time equivalent employees, their salary or wage range and benefit package; number of new full time equivalent employees anticipated as a result of the proposed project, their salary or wage range and benefit package; and an explanation if the proposed project is for job retention.
- Other information you consider relevant to the project.
After favorable review of your company’s pre-application information, WVEDA will forward a formal Application For Financial Assistance (Application). WVEDA’s Board of Directors meet on the third Thursday of each month. In order for an Application to be placed on the Agenda for that Board meeting, WVEDA must be in receipt of the completed Application no later than the first business day of the month. Upon receipt of the completed Application, WVEDA will review compliance in regard to payments of State Corporate Taxes, Workers’ Compensation Taxes and Employment Security Taxes. WVEDA may also contact and review the project with the local development authority, which is required to sign the Application. The borrower will be notified of the Board of Directors decision as soon as possible after the monthly meeting. If a favorable decision is granted, a commitment letter will be forwarded to the borrower for review and signature. Upon reviewing and signing the commitment letter, the borrower must forward it back to WVEDA for final approval by the Board of Directors at its next regular monthly meeting. For additional information, please contact a Loan Officer.
Additional information available from the West Virginia Economic Development Authority.
ECONOMIC OPPORTUNITY TAX CREDIT
WEST VIRGINIA STATE TAX DEPARTMENT
For qualified companies that create at least 20 new jobs within specified time limits (10 jobs in the case of qualified small businesses) as a result of their business expansion projects, the State’s Economic Opportunity Tax Credit can offset up to 80% of the corporate net income tax and personal income tax (on flow through income only) attributable to qualified investment. If a qualified company that creates the requisite number of jobs pays an annual median wage higher than the statewide average non-farm payroll wage, then the qualified company can offset up to 100% of the corporate net income tax and personal income tax (on flow through income only) attributable to qualified investment.
Eligibility Requirements
Qualified businesses include only those engaged in the activities of:
- Manufacturing;
- Information processing;
- Warehousing;
- Non-retail goods distribution;
- Qualified research and development;
- The relocation of a corporate headquarters; or
- Destination-oriented recreation and tourism.
Application Information
A taxpayer wishing to qualify for the Economic Opportunity Tax Credit must apply for the credit on Form WV/EOTC-A. The application is due no later than the due date of the taxpayer's annual state income tax return (corporate or personal) for the tax year the investment was placed into service or use, including lawful extensions of time to file. Any taxpayer failing to timely file the credit application form loses up to 50% of the value of any Economic Opportunity Tax Credit sought for the time periods during which the failure to file the application continues. Note that one application Form WV/EOTC-A must be filed for each year qualified investment is placed in service or use.
To claim the Economic Opportunity Tax Credit against the West Virginia personal income tax, a taxpayer must file Schedule EOTC-PIT with the annual return. Taxpayers must file Schedule EOTC-1 to claim this credit on other annual tax returns.
West Virginia State Tax Department
Phone: 304-558-3333
[email protected]
Additional information available from the West Virginia State Tax Department.
ECONOMIC OPPORTUNITY TAX CREDIT FOR CORPORATE HEADQUARTERS CREDIT
WEST VIRGINIA STATE TAX DEPARTMENT
A taxpayer that moves its corporate headquarters to West Virginia from outside of West Virginia may be entitled to an Economic Opportunity Tax Credit, if the relocation creates at least 15 new West Virginia jobs.
Eligibility Requirements
A corporation that presently has its corporate headquarters located outside this state that relocates its corporate headquarters in this state and employs, on a full-time basis, at its new corporate headquarters location, at least fifteen people, who are domiciled in this state, shall be allowed credit.
Application Information
Taxpayers must file both Application Form WV/EOTC-A no later than the due date of the taxpayer's Annual State Income Tax Return (corporate or personal) for the tax year the investment was placed into service or use, including lawful extensions of time to file, and Schedule EOTC-1 to claim this credit on an annual return. Schedule EOTC-PIT is required to claim the credit against personal income tax.
West Virginia State Tax Department
Phone: 304-558-3333
[email protected]
Additional information available from the West Virginia State Tax Department.
ECONOMIC OPPORTUNITY TAX CREDIT FOR JOBS CREATION
WEST VIRGINIA STATE TAX DEPARTMENT
The Economic Opportunity Tax Credit for Jobs Creation provides a tax credit that rewards job creation paying above a minimum salary.
Eligibility Requirements
The minimum annual salary of the new jobs for purposes of the Economic Opportunity Tax Credit for Jobs Creation is adjusted annually for inflation. In 2022, the minimum salary was $39,650.
Application Information
Before claiming this credit, the application (Form WV/EOTC-A) must be submitted to the Tax Department for approval.
West Virginia State Tax Department
Phone: 304-558-3333
[email protected]
Additional information available from the West Virginia State Tax Department.
ECONOMIC OPPORTUNITY TAX CREDIT FOR SMALL BUSINESSES
WEST VIRGINIA STATE TAX DEPARTMENT
Certain small businesses may also be entitled to an Economic Opportunity Tax Credit.
Eligibility Requirements
The term "small business" means a business or a controlled group of foreign and domestic affiliated businesses with annual gross sales of not more than an amount set by statute and adjusted for inflation on January 1st of each year. This constraint must be met by the small business only during the year qualified investment is first placed into service or use.
Application Information
Taxpayers must file both Application Form WV/EOTC-A no later than the due date of the taxpayer's Annual State Income Tax Return (corporate or personal) for the tax year the investment was placed into service or use, including lawful extensions of time to file, and Schedule EOTC-1 to claim this credit on an annual return. Schedule EOTC-PIT is required to claim the credit against personal income tax.
West Virginia State Tax Department
Phone: 304-558-3333
[email protected]
Additional information available from the West Virginia State Tax Department.
GOVERNOR'S GUARANTEED WORK FORCE PROGRAM
WEST VIRGINIA DEPARTMENT OF ECONOMIC DEVELOPMENT
This vital program provides new or expanding companies training funds and technical assistance to support effective employee training strategies. Not limited to new employees, this program targets the business’s entire workforce, training, re-training and upgrading skills across all levels. Since the program’s launch, more than $54 million has been awarded to employers and nearly 200,000 employees have received training.
Eligibility Requirements
- New and Expanding Projects:
- Create a minimum of 10 net new jobs within a twelve-month period
- No cash match required.
- Existing/Incumbent Projects:
- Must be in business in West Virginia at least one year
- 50/50 cash match required
- Training must provide portable credential, wage upgrade, or job upgrade with backfill, and/or some type of new technology
Restrictions:
- Companies must be compliant on all West Virginia Taxes, as verified by the West Virginia Tax Department.
- Cannot pay trainee wages.
Application Information
Applying for funding through the GGWFP is a two-step process.
- Complete an Authorization to Release Tax Information Form (included in application packet). This form must be signed by an Officer of the Corporation and notarized. Companies must be compliant with the West Virginia Department of Tax and Revenue, Unemployment Compensation and Workers’ Compensation prior to submitting a completed application for approval.
- Complete the application as accurately and in as much detail as possible. Back-up documentation to support the legitimacy of training for all training requests is required.
Contact Information
Sharon Phillips
West Virginia Department of Economic Development
1900 Kanawha Boulevard, East
Charleston, WV 25305
Phone: 304-558-2234
[email protected]
Additional information available from the West Virginia Department of Economic Development.
INDIRECT LOANS/LOAN INSURANCE
WEST VIRGINIA ECONOMIC DEVELOPMENT AUTHORITY
The Loan Insurance Program (LINS) is a loan guarantee program where the WVEDA guarantees up to 80% of a bank loan. The WVEDA guaranteed portion cannot exceed $500,000 and is for a maximum term of four years. The WVEDA requires that one full time equivalent job be created or retained for every $75,000 guaranteed.
Eligibility Requirements
Loan proceeds may be used for fixed assets or other needs, such as inventory and working capital. However, construction loans and lines of credit do not qualify. Unsecured loans are not eligible under this program. While WVEDA's guarantee period is up to four years, the bank's loan term can be longer. In addition, a renewal may be requested by the bank prior to insurance expiration.
Application Information
Under this program, the applicant applies directly to the bank which negotiates collateral, interest rate and loan covenants in keeping with its own lending guidelines. Upon favorable review, the bank conditionally approves the loan and makes application to WVEDA for loan insurance. A nonrefundable application fee of $500 payable to WVEDA must be submitted with the insurance application. WVEDA will assess a 1% closing fee on the insured portion of the loan, due when the Bank loan closes. The application fee will be credited toward the closing fee. In addition, the legal fee in the amount of $360 will be due and payable to the legal firm performing this service. Both fees are due upon execution of the Loan Insurance Agreement.
WVEDA requires a brief summary of the project, company history or business plan, company and personal financial statements, the bank's conditional loan commitment and a one-page loan insurance application.
Upon receipt of the information WVEDA prepares the application for its next available Board of Directors meeting. WVEDA's Board meets on the third Thursday of each month. Applications for Loan Insurance must be received by the first Thursday of the month for consideration at that meeting. Upon approval of WVEDA's Board of Directors, a loan insurance agreement is forwarded to the bank. The bank is required to report the outstanding principal balance upon request by the WVEDA. If your lender is interested in pursuing the program, they can obtain a lender's package from a WVEDA Loan Officer.
Contact Information
West Virginia Economic Development Authority
180 Association Drive
Charleston, WV 25311
Phone: (304) 558-3651
Additional information available from the West Virginia Department of Economic Development.
JOBS INVESTMENT TRUST
WEST VIRGINIA JOBS INVESTMENT TRUST
West Virginia Jobs Investment Trust (JIT) is a public venture capital fund created to develop, promote and expand the West Virginia economy by making investment funds available to eligible businesses, thus stimulating economic growth and providing or retaining jobs within the State.
Eligibility Requirements
JIT’s evaluation focuses on the following criteria:
- LOCATION
- The company must be located in, employ a work force in, and offer products or services for the benefit of West Virginia.
- INVESTMENT STRUCTURE
- JIT considers a full spectrum of investment scenarios. JIT understands that each investment will require its own unique structure. Because of its own flexibility, JIT can take a creative approach.
- INDUSTRY
- JIT does not limit its resources to specific industries. Should a venture indicate potential and meet other basic investment criteria, positive consideration will be given by JIT.
- MANAGEMENT
- The management team should be strong and experienced. A successful track record and industry experience are important factors in a JIT decision.
- MARKET
- The company should target a growing market and be able to demonstrate an ability to capture a reasonable share.
- PRODUCTS
- The company’s products or services should be proprietary or sufficiently differentiated to enjoy a sustainable competitive advantage.
Application Information
Complete the online investment application to apply.
Additional information available from the West Virginia Jobs Investment Trust.
MANUFACTURING INVENTORY CREDIT/PROPERTY TAX ADJUSTMENT CREDIT
WEST VIRGINIA STATE TAX DEPARTMENT
This credits offsets the corporate net income tax in the amount of property tax paid on raw materials, goods in process and finished goods manufacturing inventory.
Eligibility Requirements
Legitimate West Virginia manufacturers that are engaged in qualified inventory activities.
Application Information
To claim this credit, an annual schedule showing the amount of property tax paid on eligible inventories for the taxable year and the amount of the allowable credit (Schedule MPTAC-1) must be submitted with the corporation net income tax return
Additional information available from the West Virginia State Tax Department.
MANUFACTURING INVESTMENT TAX CREDIT
WEST VIRGINIA STATE TAX DEPARTMENT
A tax credit is allowed against up to 60% of corporate net income tax and based on qualified investment in eligible manufacturing property, with no new job creation required.
Eligibility Requirements
The term "manufacturing" means any business activity classified as having a sector identifier, consisting of the first two digits of the six-digit North American Industry Classification System (NAICS) code number of 31, 32, or 33, or the six-digit code number 211130.
Eligible investments include real property, improvements to real property and tangible personal property constructed or purchased for use as a part of a new or expanded or revitalized business facility of a qualified industrial taxpayer. Eligible investments may also include replaced or refurbished buildings, equipment, machinery and other tangible personal property used in the operation of a qualified facility. Eligible investment may also include real or tangible personal property acquired by written lease for a primary term of ten years or longer, if used as a component part of a new, expanded or revitalized industrial facility.
Application Information
Complete the Application Form WV/MITC-A to apply for the credit.
MANUFACTURING SALES TAX EXEMPTION
WEST VIRGINIA DEPARTMENT OF ECONOMIC DEVELOPMENT
The Manufacturing Sales Tax Exemption allows materials and equipment purchased for direct use in manufacturing to be exempt from the 6 percent state sales and use tax.
Eligibility Requirements
Materials and equipment purchases are eligible for the exemption if they directly used in manufacturing.
Application Information
Contact the Department of Economic Development
1900 Kanawha Boulevard, East
Charleston, WV 25305
Phone: 304-558-2234
Additional information available from the West Virginia Department of Economic Development.
MILITARY INCENTIVE PROGRAM
WEST VIRGINIA STATE TAX DEPARTMENT
The West Virginia Military Incentive Credit provides tax credits to qualified employers who provide employment to economically disadvantaged veterans, disabled veterans and unemployed members of the West Virginia National Guard and United States Reserve forces.
Eligibility Requirements
- "Active duty" means full-time duty in the Armed Forces, other than duty for training in the reserves or National Guard. Any period of duty for training in the reserves or National Guard, including authorized travel, during which an individual was disabled from a disease or injury incurred or aggravated in line of duty, is considered "active duty."
- "Economically disadvantaged" means a person who:
- Receives, or is a member of a family which receives, cash welfare payments under a federal, state or local welfare program;
- Has, or is a member of a family which has, received a total family income for the six months prior to application which, in relation to family size, was not in excess of the higher of:
- The poverty level determined in accordance with criteria established by the federal office of management and budget; or
- Seventy percent of the lower living standard income level;
- Is receiving food stamps pursuant to the food stamp act of 1977;
- Is a foster child on behalf of whom state or local government payments are made; or
- Is an adult handicapped individual whose own income meets the requirements of subdivisions (1) and (2) of this subsection, but who is a member of a family whose income does not meet such requirements.
- "Korean conflict veteran" means a person who served in the armed services of the United States at least one day during the period of time beginning June 27, 1950, and extending through January 31, 1955.
- "National guard member" means a member of any component of the West Virginia National Guard.
- "Reserve member" means a member of any component of the reserve forces of the United States.
- "Veteran" means a member of the United States Armed Forces who:
- Served on active duty for a period of more than one hundred eighty days and was discharged or released therefrom with other than a dishonorable discharge; or
- Was discharged or released from active duty because of a service-connected disability.
- "Vietnam era veteran" means a person who served in the armed services of the United States at least one day during the period of time beginning August 5, 1964, and extending through May 7, 1975
Application Information
Tax form Schedule J is required to claim the credit.
Additional information available from the West Virginia State Tax Department.
NEIGHBORHOOD INVESTMENT PROGRAM CREDIT
WEST VIRGINIA STATE TAX DEPARTMENT
The West Virginia Neighborhood Investment Program Act provides credit to individuals and private sector businesses that make eligible contributions to community-based nonprofit organizations that establish projects to assist neighborhoods and local communities. These projects provide services such as health care, counseling, emergency assistance, crime prevention, education, housing, job training, and physical and environmental improvements.
Eligibility Requirements
Project eligibility is determined pursuant to the filing of an application with the West Virginia Development Office and the Neighborhood Investment Advisory Board by one of two approaches.
- Qualification based on contributions destined for a certified economically disadvantaged area, or
- Qualification by need (regardless of location)
Eligible contributions include cash, tangible personal or real property (at fair market value) and contributions of in-kind professional services (at 75% of fair market value.) The maximum credit that can be taken by any taxpayer is $100,000 per taxable year, for eligible contributions to one or more certified project plans. Total maximum credit that can be allowed by the West Virginia Development Office during any fiscal year is $3,000,000. The minimum contribution of a taxpayer that would qualify for the credit during a year is $500, and the maximum contribution is $200,000.
Application Information
Contact the agency and complete Schedule WV/NIPA-2 to apply.
Additional information available from the West Virginia State Tax Department.
SALES TAX EXEMPTION FOR CERTAIN WAREHOUSE AND DISTRIBUTION CENTERS
WEST VIRGINIA DEPARTMENT OF ECONOMIC DEVELOPMENT
Purchases of certain tangible personal property in qualified warehouse and distribution centers may be exempt from the consumer sales and service tax.
Eligibility Requirements & Application Information:
Purchases must be of certain tangible items in qualified warehouse and distribution centers. Contact the Department of Economic Development for more information:
1900 Kanawha Boulevard, East
Charleston, WV 25305
Phone: 304-558-2234
Additional information available from the West Virginia Department of Economic Development.
TAX CREDIT FOR DONATION OR SALE OF VEHICLE
WEST VIRGINIA STATE TAX DEPARTMENT
A tax credit is available for taxpayers who donate vehicles after December 31, 2020, to a qualified charitable organization in this state. A tax credit is also available for new or used automobile dealers who sell a vehicle at a reduced priced to a low-income worker through a program administered through a qualified charitable organization after December 31, 2020.
Eligibility Requirements
Low income workers are defined as those living in a household with total income at or below 200% of the Federal Poverty Level. Low-income worker may also include part-time workers, seasonal employees, contract workers, or an unemployed person who has been offered and has accepted employment contingent on that person’s obtaining suitable transportation to the place of employment.
The organizations that are considered “Qualified Charitable Organization” to which a donation or sale may be made in order to qualify for this tax credit are nonprofit associations which are:
- Recognized as exempt from federal taxation under U.S.C. §501(c)(3); and
- Registered as a charitable organization pursuant to W. Va. Code §29-19-1, et seq.; and
- Operate a program that provides the following services:
- Provides low-income workers in the state with below-market, affordable financing to purchase vehicles through cooperating financial institutions; and
- Provides financial counseling and other training and assistance to low-income workers to meet the terms of the loans used to purchase the vehicles through the program.
Application Information
At the time of the donation or sale of the vehicle, the taxpayer should provide the qualified charitable organization an estimate of the fair market value of the vehicle. The qualified charitable organization will provide the taxpayer with a form authorized by the State Tax Department. To claim the credit, the taxpayer will send the form provided by the qualified charitable organization to the State Tax Department for certification.
The automobile dealer must certify that it has no reason to believe the vehicle has been subject to any unperformed safety recall or was junked or salvaged or should have been branded or reported as junked or salvaged.
Additional information available from the West Virginia State Tax Department.
WEST VIRGINIA CAPITAL ACCESS PROGRAM
WEST VIRGINIA JOBS INVESTMENT TRUST
Mountain State small businesses now have a source of capital through the West Virginia Capital Access Program (WVCAP). WVCAP is designed to assist credit-worthy companies that may not fit traditional lending models.
Eligibility Requirements:
Intended for companies with gross sales less than $5 million.
Application Information:
Contact the West Virginia Jobs Investment Trust for more information.
Additional information available from the West Virginia Jobs Investment Trust.
WEST VIRGINIA SMALL BUSINESS DEVELOPMENT CENTER
WEST VIRGINIA DEPARTMENT OF ECONOMIC DEVELOPMENT
The Small Business Development Center of WV is a statewide network that provides essential information for successfully starting, expanding and growing a small business.
Eligibility Requirements
The West Virginia Small Business Development Center serves businesses with fewer than 500 employees, including new ventures, growing companies and mature businesses.
Application Information
There are several ways to take advantage of West Virginia Small Business Development Center resources.
This website has a wealth of information to assist you and answer questions. Take some time to scroll through the Resources pages, and review the Training Calendar.
If you are starting a business, consider attending one of our Business Fundamentals workshops. There you will learn about the start-up process, important considerations and decisions you should make before you start, the various regulations and registrations, and the fundamentals of a business plan.
If you are already in business and would like one-on-one business coaching, contact us to set an appointment. We'll ask that you complete an intake questionnaire. We'll also suggest you bring financial information, marketing materials, etc. to our meeting to help us better understand your business.
Additional information available from the West Virginia Department of Economic Development.
AGRICULTURAL ENHANCEMENT PROGRAM
WEST VIRGINIA CONSERVATION AGENCY
The program offers technical and financial assistance as an incentive to implement suggested best management practices. Overall program primary objectives include the reduction of nutrients and sediment from entering the waters within the State and increasing farm profitability and sustainability.
AIRCRAFT VALUATION AND SPECIAL AIRCRAFT PROPERTY
WEST VIRGINIA DEPARTMENT OF ECONOMIC DEVELOPMENT
All aircraft owned or leased by commercial airlines or private carriers, or any parts, materials or items used in the construction, maintenance or repair of aircraft which are, or are intended to become, affixed to or a part of an aircraft or of an aircraft’s engine or of any other component of an aircraft will be valued at “salvage value” or 5% of original costs, whichever is the lesser amount.
APPRENTICESHIP TRAINING TAX CREDIT
WEST VIRGINIA STATE TAX DEPARTMENT
A credit is allowed for properly registered taxpayers for wages paid to apprentices in the construction trades.
BROADBAND LOAN INSURANCE (BLINS)
WEST VIRGINIA ECONOMIC DEVELOPMENT AUTHORITY
The Broadband Loan Insurance Program (BLINS) was created to assist businesses in gaining access to credit from West Virginia's financial institutions.
COAL LOADING FACILITIES CREDIT
WEST VIRGINIA STATE TAX DEPARTMENT
This credit is available to taxpayers subject to severance tax that purchase real or personal property, or a combination thereof, to build or construct a new or expanded coal loading facility, or taxpayers that revitalize an existing coal loading facility.
COAL SEVERANCE TAX REBATE
WEST VIRGINIA STATE TAX DEPARTMENT
Coal producers who pay Severance Tax at the rate of 5% may be eligible to receive a Coal Severance Tax Rebate if they make capital investments in new machinery or equipment, certain repairs that are capitalized for federal income tax purposes, or infrastructure improvements to real property, which are directly used at the coal mine operation to produce coal and result in an increase in coal production and an increase in workforce.
COMMERCIAL PATENT INCENTIVES TAX ACT
WEST VIRGINIA STATE TAX DEPARTMENT
A person engaging in this state in developing plant patent, design patent or patents for direct use in a manufacturing process or product and who has an agreement, as defined in section three of this article, is allowed a credit, when computing the person's liability for business franchise tax imposed by article twenty-three of this chapter and corporation net income tax.
COOPERATIVE ADVERTISING PROGRAM
WEST VIRGINIA DEPARTMENT OF TOURISM
The Cooperative Advertising Program is designed to increase overall brand awareness for both the state of West Virginia and participating tourism industry partners through a mix of national, regional and local advertising opportunities. Under this program, tourism businesses can purchase paid advertising at a reduced cost and receive an 80/20 split dollar match from the state on their advertising buy.
DOWNSTREAM NATURAL GAS MANUFACTURING INVESTMENT TAX CREDIT
WEST VIRGINIA STATE TAX DEPARTMENT
The Downstream Natural Gas Manufacturing Investment Tax Credit is available to eligible taxpayers that make a qualified investment in a new or expanded downstream natural gas manufacturing facility in West Virginia that results in the creation of at least 5 new jobs.
ECONOMIC OPPORTUNITY TAX CREDIT FOR HIGH TECHNOLOGY MANUFACTURERS (HIGH-TECH MANUFACTURING CREDIT)
WEST VIRGINIA STATE TAX DEPARTMENT
The High-Tech Manufacturing Credit is available to West Virginia manufacturers in high-tech related industries.
ELECTRIC, NATURAL GAS, AND WATER UTILITIES RATE REDUCTION CREDIT
WEST VIRGINIA STATE TAX DEPARTMENT
West Virginia offers a special tax credit for public utilities that provide electric, natural gas, and water utility service at special reduced rates to low-income residential customers.
ENVIRONMENTAL AGRICULTURAL EQUIPMENT TAX CREDIT
WEST VIRGINIA STATE TAX DEPARTMENT
Taxpayers purchasing and installing qualified agricultural equipment for use in agricultural operations can claim the Environmental Agricultural Equipment credit.
EXPEDITED PERMITTING PROGRAM
WEST VIRGINIA DEPARTMENT OF ECONOMIC DEVELOPMENT
Economic development projects now have the opportunity to receive expedited permitting. West Virginia offers certificates of critical economic concern for high priority projects. The designation is awarded to projects meeting a set of criteria based on the project’s projected economic impact. These projects will require regular, completed permit application status.
FIVE FOR TEN PROGRAM - FRACTIONATING PLANTS AND SECONDARY PLANTS
WEST VIRGINIA DEPARTMENT OF ECONOMIC DEVELOPMENT
The Five For Ten Program provides property tax valuation for new investment property of manufacturers and fractionators.
FIVE FOR TEN PROGRAM - MANUFACTURING FACILITIES
WEST VIRGINIA DEPARTMENT OF ECONOMIC DEVELOPMENT
Investments greater than $50M in a manufacturing facility having $100M or more of preexisting investment in place prior to the new investment are valued at 5% of cost of the new investment for property tax purposes.
FREEPORT AMENDMENT
WEST VIRGINIA DEPARTMENT OF ECONOMIC DEVELOPMENT
The Freeport Amendment is available to warehousing businesses that serve West Virginia exporters of manufacturing products and importers for external commodities.
HIGH TECHNOLOGY VALUATION ACT FOR DATA CENTERS
WEST VIRGINIA DEPARTMENT OF ECONOMIC DEVELOPMENT
Tangible personal property, including servers, directly used in a high-technology business or in an Internet advertising business, is valued for property tax purposes at 5% of the original cost of the property. In addition, sales tax is eliminated from all purchases of prewritten computer software, computers, computer hardware, servers, building materials and tangible personal property for direct use in a high-technology business or internet advertising business.
HIGH-TECH INCENTIVE EXEMPTIONS AND CREDITS
WEST VIRGINIA STATE TAX DEPARTMENT
The West Virginia Economic Development Authority is authorized either singly or in conjunction with any county commission, municipality or local development authority, to issue special bonds for the purpose of this section, including, but not limited to, special project revenue bonds and special user bonds limited to the actual cost of construction and start-up of any qualifying and approved research zones, parks or technology centers, and improvements necessary thereto, pursuant to article twelve-b, chapter eighteen of this code.
HIGH-WAGE GROWTH BUSINES TAX CREDIT
WEST VIRGINIA STATE TAX DEPARTMENT
The New High-Wage Job Credit is for new high-wage jobs created in West Virginia by an eligible employer on or after July 1, 2020.
HISTORIC REHABILITATED BUILDINGS INVESTMENT CREDIT
WEST VIRGINIA STATE TAX DEPARTMENT
For expenditures made prior to December 31, 2017, the Historic Rehabilitated Buildings Investment Credit equals 10% of the qualified expenditures for the rehabilitation of residential and nonresidential buildings designated by the National Park Service, United States Department of the Interior, as “certified historic structures,” and further defined as a “qualified rehabilitated structure.” For expenditures made on or after December 31, 2017, this credit equals 25% of the qualified expenditures.
INDUSTRIAL DEVELOPMENT BONDS
WEST VIRGINIA ECONOMIC DEVELOPMENT AUTHORITY
This program provides for customized financing through federal tax-exempt industrial revenue bonds.
INDUSTRIAL EXPANSION AND REVITALIZATION CREDIT FOR ELECTRIC POWER PRODUCERS
WEST VIRGINIA STATE TAX DEPARTMENT
Electric power generation companies that make eligible investment(s) for industrial expansion or industrial revitalization within West Virginia may be eligible for the Industrial Expansion and Revitalization Credit.
MINE SAFETY TECHNOLOGY CREDIT
WEST VIRGINIA STATE TAX DEPARTMENT
A coal mining company that purchases mine safety technology that is on the approved list at the time of purchase is eligible for a credit against its West Virginia corporation net income tax. Because the credit is intended to encourage innovation, any equipment that is on the approved list and subsequently adopted by the Federal Mine Safety and Health Administration or the West Virginia Office of Mine Safety or any other state or federal agency as required equipment to be used in a coal mine or on a mine site or any other industrial site shall be removed from the list of approved innovative mine safety technologies because it is then considered normal, required technology and no longer “innovative.”
NATURAL GAS JOBS RETENTION ACT CREDIT
WEST VIRGINIA STATE TAX DEPARTMENT
The Natural Gas Industry Jobs Retention Act provides a credit of $1,000 per qualified full-time employee for businesses subject to the natural gas storage provisions of the Business and Occupation Tax.
NATURAL GAS LIQUIDS PROPERTY TAX ADJUSTMENT CREDIT
WEST VIRGINIA STATE TAX DEPARTMENT
Natural gas liquid storers or transporters may be allowed a tax credit in the amount of the West Virginia ad valorem property tax that it paid on the value of natural liquids inventory and equipment during the Personal Income Tax or Corporation Income Tax year, as applicable.
POST-COAL MINE SITE BUSINESS CREDIT
WEST VIRGINIA STATE TAX DEPARTMENT
Businesses that have a principal place of business in this state may be eligible for a post-coal mine site business credit if the business employees at the post-coal mine site a minimum of 10 full-time (32 hours a week or more employees) and its principal place of business is located on post-coal mine site.
RESEARCH AND DEVELOPMENT SALES TAX EXEMPTION
WEST VIRGINIA DEPARTMENT OF ECONOMIC DEVELOPMENT
Purchases of tangible personal property and services directly used in research and development are exempt from the consumer sales tax.
SALES TAX EXEMPTION FOR CERTAIN E-COMMERCE BUSINESSES
WEST VIRGINIA DEPARTMENT OF ECONOMIC DEVELOPMENT
Some computer-related sales of tangible personal property and services are exempt from the consumer sales and services tax.
SPECIAL RATES FOR ENERGY INTENSIVE INDUSTRIAL CONSUMERS OF ELECTRIC POWER
WEST VIRGINIA PUBLIC SERVICE COMMISSION
The West Virginia Public Service Commission may establish special rates that in its judgment are necessary or appropriate for the continued, new or expanded operation of energy-intensive industrial consumers.
SPECIAL RECLAMATION TAX CREDIT
WEST VIRGINIA STATE TAX DEPARTMENT
If a mine operator performs reclamation or remediation at a site that otherwise would have been reclaimed using funds from the Special Reclamation Fund or Special Reclamation Water Trust Fund, then that mine operator may be granted a tax credit against the special reclamation tax.
TELEPHONE UTILITIES RATE REDUCTION CREDIT
WEST VIRGINIA STATE TAX DEPARTMENT
Taxpayers and businesses that provide telephone service at special reduced rates to certain low-income residential customers may claim this credit.
TOURISM DEVELOPMENT ACT
WEST VIRGINIA DEPARTMENT OF ECONOMIC DEVELOPMENT
Businesses eligible for the act will receive a 25-percent tax credit from consumers sales and service taxes collected on the gross receipts generated directly from daily operations. Additionally, certain projects can receive a 35-percent credit if the project is on an abandoned surface mine or is on/adjacent to a state or national forest or park.
VETERANS & HEROES TO AGRICULTURE
WEST VIRGINIA DEPARTMENT OF AGRICULTURE
The Department of Agriculture developed the Veterans and Heroes to Agriculture Program to integrate veterans into the field of agriculture, and support veterans currently working in agriculture. These programs may include, but are not limited to, using post-mine land for agricultural development, promoting high tunnel crops and production, expanding the apiary industry, developing cottage industries, exploring niche crops, raising more livestock, increasing the aquaculture industry and helping veterans promote their agricultural products through farmers markets and cooperatives.
WEST VIRGINIA FARM-TO-FOOD BANK TAX CREDIT
WEST VIRGINIA STATE TAX DEPARTMENT
The tax credit is for agricultural products that are donated to one or more nonprofit food programs in West Virginia.
WEST VIRGINIA INFRASTRUCTURE AND JOBS DEVELOPMENT COUNCIL
WEST VIRGINIA INFRASTRUCTURE AND JOBS DEVELOPMENT COUNCIL
The West Virginia Infrastructure and Jobs Development Council can be used for financial assistance to public utilities, county development authorities and private companies for infrastructure improvements to support economic development projects.
WEST VIRGINIA RURAL HEALTH INFRASTRUCTURE LOAN FUND
CENTER FOR RURAL HEALTH DEVELOPMENT
The Center for Rural Health Development, Inc. (Center), a West Virginia not-for-profit corporation, operates the West Virginia Rural Health Infrastructure Loan Fund (Loan Fund) for the purpose of making affordable and flexible loans available to West Virginia's health care providers.
WEST VIRGINIA TAX CREDIT FOR FEDERAL EXCISE TAX UPON SMALL ARMS AND AMMUNITION MANUFACTURERS
WEST VIRGINIA STATE TAX DEPARTMENT
With a minimum qualified investment of $2 million made after July 1, 2021, in a small arms and ammunition manufacturing facility, a credit equal to 100% of federal excise tax paid per IRC §4181 can be used to offset up to 100% of either Corporation Net Income Tax or Personal Income Tax that is paid as the result of the investment.
Wisconsin
SBA 504 BRIDGE FINANCING
WISCONSIN HOUSING AND ECONOMIC DEVELOPMENT AUTHORITY
504 participation program provides lenders with participation financing during the interim period before the sale of the SBA guaranteed debenture.
Eligibility Requirements
- For-profit, certain cooperatives, or other entities meeting criteria established by WHEDA and SBA.
- Projects demonstrating job retention/creation, strong community support,
- and which qualify under 1), 2), or 3) below.
- Land, plant or equipment for any of the following:
- Facilities for manufacturing or commercial real estate activities.
- National or regional owner occupied headquarters facilities.
- Facilities for the storage or distribution of products of manufacturing activities, materials, components, or equipment.
- Facilities for the retail sale of goods or services.
- Facilities for research and development activities.
- Recreational and tourism facilities serving to attract visitors to this state.
- Facilities for the production, packaging, processing or distribution of raw agricultural commodities.
- Facilities for engaging in the business of operating a railroad.
- Facilities for recycling.
- Activities of a long-term nature, such as research and development.
- Equipment, materials, or labor used to make an energy-conserving improvement to a commercial or industrial facility.
- Project results in job creation/retention. Borrower required to report job creation/retention.
- SBA approved loans. Commitment to be provided prior to closing.
- Land, plant or equipment for any of the following:
Application Information
For more information, contact the Wisconsin Housing and Economic Development Authority.
Wisconsin Housing and Economic Development Authority
908 East Main Street
Madison, WI 53701
Phone: 608-266-7884
Fax: 608-819-4737
Additional information available from the Wisconsin Housing and Economic Development Authority.
WISCONSIN SMALL BUSINESS GUARANTEE (WSBG)
WISCONSIN HOUSING AND ECONOMIC DEVELOPMENT AUTHORITY
The WHEDA Small Business Loan Guarantee (WSBG) provides a pledge of support on a bank loan and guarantees a portion of business' loan made to a lender.
Eligible businesses:
- Business is unable to obtain conventional financing at reasonable terms.
- Business employs 250 or fewer full-time equivalent employees at time of application.
- Business is located in Wisconsin.
- Owner is current in child support payments and not in default on any WHEDA loans.
- The project will create or retain jobs.
For additional information, including the eligible use of loan proceeds, see the website.
Application Information
- Borrower and lender complete and submit loan guarantee application (Form 4).
- WHEDA reviews the complete application and renders a decision upon completion of its underwriting.
For more information, contact the Wisconsin Housing and Economic Development Authority.
Wisconsin Housing and Economic Development Authority
908 East Main Street, Suite 501
Madison, WI 53703
Phone: 608-266-7884
Fax: 608-819-4737
[email protected]
Additional information available from the Wisconsin Housing and Economic Development Authority.
WISCONSIN TOMORROW SMALL BUSINESS RECOVERY GRANT
WISCONSIN DEPARTMENT OF REVENUE; WISCONSIN ECONOMIC DEVELOPMENT CORPORATION (WEDC)
The Wisconsin Tomorrow Small Business Recovery Grant program will award $420 million to small businesses impacted by the COVID-19 pandemic. The program is intended to support businesses who are hardest hit by the pandemic and are key to Wisconsin making a strong recovery. The program is administered by the Wisconsin Department of Revenue (DOR) in collaboration with the Wisconsin Economic Development Corporation (WEDC) and is funded with money received from the federal government through the American Rescue Plan Act.
Application Information
A business may have a representative apply on their behalf. The person that completes the application must enter their first and last name in the Contact Info section of the application. The online application should take no more than 15 minutes to complete if you have your 2019 income tax return in front of you.You must complete the application in one session.You will have to print each page or tab of the application as you complete it. To print each page, right-click on the page and select print from your internet browser.
Information needed for the application:
- A complete copy of your business's 2019 federal income tax return. You will need the amount of revenue from the appropriate line of the federal return (see the federal forms and line references in the answer to question #3).
- The business's primary North American Industry Classification System (NAICS) code. This information may be reported on your tax return. The application will help you search for NAICS codes. You can also search for the appropriate NAICS code at: naics.com/search/.
Phone: 6082662772
Additional information available from the Wisconsin Department of Revenue.
7/10 FLEX FINANCING
WISCONSIN HOUSING AND ECONOMIC DEVELOPMENT AUTHORITY
Under this product, WHEDA will provide flexible fixed-rate loans to Borrowers with either 7-year or 10-year rate structures. This product is not expected to be financed through the sale of mortgage revenue bonds. The loans will be subject to the financial strength of the borrower, development eligibility, and rent and occupancy restrictions.
AGRIBUSINESS DEVELOPMENT LOAN GUARANTEE PILOT
WISCONSIN HOUSING AND ECONOMIC DEVELOPMENT AUTHORITY
The Agribusiness Development Loan Guarantee Pilot helps new or existing businesses obtain financing on favorable terms to develop or expand production of products using Wisconsin's raw agricultural commodities.
AGRIBUSINESS GUARANTEE (AGBG)
WISCONSIN HOUSING AND ECONOMIC DEVELOPMENT AUTHORITY
The Agribusiness Guarantee helps new or existing businesses obtain financing on favorable terms to develop or expand production of products using Wisconsin's raw agricultural commodities.
BIOGAS, SOLAR, AND WIND ENERGY EQUIPMENT EXEMPTION
WISCONSIN DEPARTMENT OF REVENUE
The general property tax exemption applies whether the biogas, synthetic gas, solar, and wind energy systems are deemed personal property or are so affixed to the realty as to be classified as real estate.
BROWNSFIELDS GRANT PROGRAM
WISCONSIN ECONOMIC DEVELOPMENT CORPORATION
Wisconsin's Brownfield Program provides grant funds to assist local governments, businesses and individuals with assessing and remediating the environmental contamination of an abandoned, idle or underused industrial or commercial facility or site.
BUSINESS DEVELOPMENT TAX CREDIT (BTC) PROGRAM
WISCONSIN ECONOMIC DEVELOPMENT CORPORATION
The Business Development Tax Credit Program supports job creation, capital investment, training and corporate headquarters location or retention by providing businesses located in or relocating to Wisconsin with refundable tax credits that can help to reduce their Wisconsin income/franchise tax liability or provide a refund, thereby helping to enhance their cash flow to expand the projects scope, accelerate the timing of the project or enhance payroll.
BUY LOCAL, BUY WISCONSIN GRANTS
DEPARTMENT OF AGRICULTURE, TRADE, AND CONSUMER PROTECTION
Managed by DATCP, the grants can help farms and businesses more efficiently process, market and distribute food in local markets including stores, schools and institutions.
CAPITAL CATALYST
WISCONSIN ECONOMIC DEVELOPMENT CORPORATION
The Capital Catalyst program provides matching grants to seed funds managed by local communities and other eligible entities to provide capital to high-growth startups and emerging growth companies.
CERTIFIED SITES PROGRAM
WISCONSIN ECONOMIC DEVELOPMENT CORPORATION
Certified Sites Program is to enables and promotes shovel-ready development sites in the state of Wisconsin.
CONSTRUCTION PLUS TAX CREDIT DEVELOPMENT LOAN
WISCONSIN HOUSING AND DEVELOPMENT AUTHORITY
With our Construction Plus Loan you can finance up to 90% of the development cost of rental housing for families, elderly, or people with disabilities.
CONTRACTORS LOAN GUARANTEE (CLG)
WISCONSIN HOUSING AND ECONOMIC DEVELOPMENT AUTHORITY
The Contractors Loan Guarantee (CLG) helps contractors complete contracts and build their business with reduced fees, expanded eligibility and a streamlined application process.
CREDIT RELIEF OUTREACH PROGRAM (CROP)
WISCONSIN HOUSING AND ECONOMIC DEVELOPMENT AUTHORITY
CROP is a financing resource for farmers that provides guarantees on agricultural production loans for the purpose of purchasing services and consumable goods necessary for producing an agricultural commodity.
DAIRY BUSINESS BUILDER GRANT PROGRAM
CENTER FOR DAIRY RESEARCH
This grant program, formerly known as the small grant program, is targeted at small-to-medium size farmers or processors. Projects should be aimed at diversifying on-farm activity, creating value-added products, enhancing dairy by-products or export programs.
DAIRY INDUSTRY IMPACT GRANT PROGRAM
CENTER FOR DAIRY RESEARCH
This grant program is targeted at dairy product manufacturers that want help developing an innovative idea or tackling a challenge with the potential to advance the dairy industry. Awards of $50,000 to $250,000 in reimbursable grants will be made.
DAIRY PROCESSOR GRANTS
DEPARTMENT OF AGRICULTURE, TRADE, AND CONSUMER PROTECTION
The Wisconsin Department of Agriculture, Trade, and Consumer Protection administers a Dairy Processor Grant program to foster innovation, improve profitability and sustain the long-term viability of Wisconsin's dairy processing facilities.
DIVERSE BUSINESS DEVELOPMENT
WISCONSIN ECONOMIC DEVELOPMENT CORPORATION
The Diverse Business Development (DBD) program is designed to support minority, women, LGBT, and veteran business development through direct assistance to nonprofit organizations in Wisconsin.
DROUGHT RELIEF GUARANTEE PROGRAM
WISCONSIN HOUSING AND ECONOMIC DEVELOPMENT AUTHORITY
WHEDAÂ Drought Relief Guarantee Program will provide a 90% guarantee on loans up to $25,000 for three years. WHEDA will provide $1.5 million in loan guarantees to help farmers in need.
ENTERPRISE ZONE TAX CREDITS
WISCONSIN ECONOMIC DEVELOPMENT CORPORATION
The program supports job creation, job retention, capital investment, training, and Wisconsin supply chain investment by providing companies with refundable Tax Credits that can help to reduce their Wisconsin state income tax liability or provide a refund, thereby helping to enhance their cash flow to either expand the project’s scope, accelerate the timing of the project or enhance payroll.
ENTREPRENEURIAL MICRO-GRANT PROGRAM
WISCONSIN CENTER FOR TECHNOLOGY COMMERCIALIZATION
The EMG program provides early-stage technology-based companies with services and funding to support their efforts in obtaining significant federal grant funding. Additionally, Business Planning services rendered by the Small Business Development Centers (SBDCs) increase the entrepreneurial proficiency of state entrepreneurs and small business owners.
ENTREPRENEURIAL MICRO-GRANTS
WISCONSIN ECONOMIC DEVELOPMENT CORPORATION
The Entrepreneurial Micro-Grants (EMG) Program provides early-stage technology-based companies with services and funding to support their efforts in obtaining significant federal grant funding. Additionally, Business Planning services rendered by the SBDCs increase the entrepreneurial proficiency of the state entrepreneurs and small business owners.
EXEMPTION FOR FUEL AND ELECTRICITY
WISCONSIN DEPARTMENT OF REVENUE
The Exemption for Fuel and Electricity is available for consumption by manufacturing companies.
EXPORTECH
WISCONSIN ECONOMIC DEVELOPMENT CORPORATION
Export-Tech is a three-session training program to develop or expand an export program for small to mid-sized companies in Wisconsin.
FARM ASSET REINVESTMENT MANAGEMENT (FARM) GUARANTEE
WISCONSIN HOUSING AND ECONOMIC DEVELOPMENT AUTHORITY
FARM is a loan guarantee for agricultural producers who want to start, expand or modernize their operations.
FARMLAND PRESERVATION CREDIT
DEPARTMENT OF REVENUE
Eligible landowners may claim farmland preservation tax credits. The amount of the tax credit depends upon how a landowner participates in the program.
FREIGHT RAIL PRESERVATION PROGRAM (FRPP)
WISCONSIN DEPARTMENT OF TRANSPORTATION
The Freight Rail Preservation Program (FRPP) provides grants to local units of government, industries and railroads that currently or could potentially use freight railroad services or a transit commission.
GLOBAL BUSINESS DEVELOPMENT GRANT
WISCONSIN ECONOMIC DEVELOPMENT CORPORATION
The program consists of the International Market Access Grant (IMAG) and the Collaborative Market Access Grant (CMAG). The IMAG provides funding to support a company’s specific export development and deployment strategy with international staff providing technical assistance. The CMAG aids these efforts through an industry-focused intermediary.
HISTORIC PRESERVATION TAX CREDIT
WISCONSIN ECONOMIC DEVELOPMENT CORPORATION
The Historic Preservation Tax Credit program provides transferable tax credits to eligible entities rehabilitating certified historic buildings. The state program acts as a supplement to the federal program, allowing for a state credit of 20 percent of qualified rehabilitation expenditures for certified historic structures. A certified historic structure is a building that is listed individually in the National Register of Historic Places or is located in a registered historic district and is certified by the National Park Service as contributing to the historic significance of that district.
IDLE INDUSTRIAL SITES REDEVELOPMENT
WISCONSIN ECONOMIC DEVELOPMENT CORPORATION
The Idle Industrial Site Redevelopment Program offers grants to Wisconsin communities for the redevelopment of sites that have been idle, abandoned or underutilized for a period of at least five years.
INDUSTRIAL REVENUE BONDS
WISCONSIN ECONOMIC DEVELOPMENT CORPORATION
The IRB Program allows Wisconsin municipalities to support industrial development through the sale of tax-exempt bonds.
MANUFACTURING AND AGRICULTURE CREDIT
WISCONSIN DEPARTMENT OF REVENUE
The Manufacturing and Agriculture Credit, which virtually eliminates the tax on income from manufacturing activity in the state.
MEAT AND POULTRY SUPPLY CHAIN RESILIENCY GRANTS
DEPARTMENT OF AGRICULTURE, TRADE, AND CONSUMER PROTECTION
Meat and Poultry Supply Chain Resiliency Grants are available to new or existing processors to facilitate changes and expansion to grow harvest capacity and/or increase product throughput.
MULTIFAMILY RENTAL HOUSING ACCESSIBILITY LOAN
WISCONSIN HOUSING AND ECONOMIC DEVELOPMENT AUTHORITY
Provide mortgage loans for multifamily developments that need to improve accessibility to meet ADA/504 or Fair Housing requirements. The terms offered are generally not available in the conventional financial markets.
NEIGHBORHOOD BUSINESS REVITALIZATION GUARANTEE (NBRG)
WISCONSIN HOUSING AND ECONOMIC DEVELOPMENT AUTHORITY
The Neighborhood Business Revitalization Guarantee (NBRG) helps to bring or expand business, or develop or rehabilitate commercial real estate in an urban area.
PARTICIPATION LENDING PROGRAM (WPLP)
WISCONSIN HOUSING AND ECONOMIC DEVELOPMENT AUTHORITY
The program partners WHEDA with local community participating lenders, banks, credit unions, economic development corporations, community development financial institutions, small business investment corporations, and other entities that provide commercial loans in the state. Features and benefits include: Reduced risk for the participating lender; Available for use during construction including SBA 504 construction loans.
PRESERVATION PLUS FINANCING
WISCONSIN HOUSING AND ECONOMIC DEVELOPMENT AUTHORITY
Preservation Plus Financing provides long-term discounted tax-exempt financing for the acquisition and substantial rehabilitation of affordable housing.
PRESERVATION REVOLVING LOAN FUND PROGRAM
WISCONSIN HOUSING AND ECONOMIC DEVELOPMENT AUTHORITY
Preservation Revolving Load Funding is available to for-profit, qualified non-profits, housing authorities, or other entities meeting criteria established by WHEDA. Limited to existing multifamily housing with Rural Development Section 515 financing.
QUALIFIED NEW BUSINESS VENTURE
WISCONSIN ECONOMIC DEVELOPMENT CORPORATION
The Qualified New Business Venture Program provides tax credits to eligible investors who make cash equity investments in qualified early-stage technology-based businesses.
QUALIFIED WISCONSIN BUSINESS CAPITAL GAIN EXCLUSION
WISCONSIN DEPARTMENT OF REVENUE
An exclusion allowed for certain long-term capital gain from the sale of a qualified investment.
RESEARCH EXPENDITURE CREDIT
WISCONSIN DEPARTMENT OF REVENUE
There are tax credits available for qualified research expenditures that are related to internal combustion engines and certain energy efficient products as well as increasing research in the state of Wisconsin.
SBIR/STTR MATCHING GRANT
WISCONSIN ECONOMIC DEVELOPMENT CORPORATION
The program provides funds to technology-based businesses in or relocating to Wisconsin by matching a portion of Phase I and/or Phase ll awards under the federal Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs provided through periodic competitions. The program will be administered by the Center for Technology Commercialization (CTC).
STAND-ALONE BOND FINANCING
WISCONSIN HOUSING AND ECONOMIC DEVELOPMENT AUTHORITY
Through WHEDA's Stand Alone Bond Loan product, WHEDA agrees to make loans to eligible borrowers and also agrees to issue corresponding tax exempt or taxable bonds.
TAX CREDIT DEVELOPMENT FINANCING
WISCONSIN HOUSING AND ECONOMIC DEVELOPMENT AUTHORITY
Tax Credit Development Financing offers competitive, fixed-rate financing designed specifically for the 9% tax credit developments.
TAX-EXEMPT BOND FINANCING
WISCONSIN HOUSING AND ECONOMIC DEVELOPMENT AUTHORITY
Tax-Exempt Bond Financing provides long-term below market interest rate financing for the construction, acquisition and rehabilitation of affordable rental housing.
TECHNOLOGY DEVELOPMENT LOANS
WISCONSIN ECONOMIC DEVELOPMENT CORPORATION
The Technology Development Loan (TDL) Program provides direct financial assistance to startup and emerging growth companies in Wisconsin that are developing and commercializing innovative products and services at critical stages in their development.
TRANSPORTATION ECONOMIC ASSISTANCE (TEA)
WISCONSIN DEPARTMENT OF TRANSPORTATION
The Transportation Economic Assistance (TEA) program provides matching state grants to governing bodies for road, rail, harbor and airport projects that help attract employers to Wisconsin, or encourage business and industry to remain and expand in the state.
WBD 504 FINANCING
WISCONSIN BUSINESS DEVELOPMENT
Building on staff expertise in SBA lending, the service company offers a full range of support services, from full packaging services to on call support. An SBA 504 loan is a special product that can only be offered by a Certified Development Company (CDC) in partnership with a local lender.
WISCONSIN FAST FORWARD GRANTS
DEPARTMENT OF WORKFORCE DEVELOPMENT
The State of Wisconsin's Wisconsin Fast Forward (WFF) grant program is a nationally recognized, innovative talent development solution driven by Wisconsin businesses to train and retain highly skilled workers.
WWBIC LOAN
WISCONSIN WOMEN'S BUSINESS INITIATIVE CORPORATION
The Wisconsin Women’s Business Initiative Corporation (WWBIC) has provided business loans and access to fair and responsible capital, quality business and financial wellness training, and one-on-one coaching since 1987.
Wyoming
SUCCESSION LOAN PROGRAM
WYOMING BUSINESS COUNCIL
The Succession Loan in participation with a bank would provide financing for the purchase of a business that is at least 7 years old.
Eligibility Requirements
Who is Eligible
- New business owners that are purchasing a Wyoming Business that has been around for the last 7 years. Where the new owners are requesting debt financing from a Bank.
Use of Funds
- Purchase of a Wyoming business that has been around for the last 7 year.
Application Information
Process
- Start at the bank and let them know you are interested in the WBC Main Street Loan
- If you don’t mention WBC Main Street Loan Participation Program up front, they might just give you regular bank terms
- Once the bank side is secure and sets the loan term (typically 5 years)
- Submit the application including all items on the checklist
- Loan must be approved by the WBC Board of Directors
- Funds disbursed, participation documents signed, and the loan is closed
- The bank services the loan so that the borrower only needs to make one monthly payment
The Application, Fact Sheet, Rules and Regulations for this program are available on the Wyoming Business Council website.
Additional information available from the Wyoming Business Council.
50/50 LOAN PROGRAM
WYOMING BUSINESS COUNCIL
The 50/50 Financing Program, in participation with a Bank, is designed to help businesses requesting debt financing get to their next milestone.
Who is Eligible
- Wyoming Businesses requesting debt financing from a Bank
- Participating Bank with a Wyoming Business as a third-party recipient
Use of Funds
- Working Capital
- Equipment
- Inventory
- Real Estate & Other Fixed Assets
Application Information
Process
- Start at the bank and let them know you are interested in the WBC Main Street Loan
- If you don’t mention WBC Main Street Loan Participation Program up front, they might just give you regular bank terms
- Once the bank side is secure and sets the loan term (typically 5 years)
- Submit the application including all items on the checklist
- Loan must be approved by the WBC Board of Directors
- Funds disbursed, participation documents signed, and the loan is closed
- The bank services the loan so that the borrower only needs to make one monthly payment
The Application, Fact Sheet, Rules and Regulations for this program are available on the Wyoming Business Council website.
Additional information available from the Wyoming Business Council.
WORKFORCE DEVELOPMENT TRAINING FUND - APPRENTICESHIP GRANTS
WYOMING DEPARTMENT OF WORKFORCE SERVICES
The purpose of the Apprenticeship Grants is to develop an industry specific workforce for a business, businesses or industry and to assist Wyoming Registered Apprenticeship Programs with the costs and expenses of implementing the program and training the apprentices.
Eligibility Requirements
The following entities are eligible to apply for grants under this section:
- Wyoming-based sponsor(s) with US DOL, Office of Apprenticeship registered apprenticeship programs; and/or
- Related instruction provider associated with a Wyoming-based sponsor.
Application Information
For additional information and to apply online, see the website or call the Wyoming Department of Workforce Services at (307) 777-6075.
Additional information available from the Wyoming Department of Workforce Services.
WORKFORCE DEVELOPMENT TRAINING FUND - PRE-HIRING ECONOMIC DEVELOPMENT GRANTS
WYOMING DEPARTMENT OF WORKFORCE SERVICES
The Pre-Hire Economic Development Grant Program is available to train potential employees for a new or expanding business that is unable to recruit workers with a specific skill set.
Eligibility Requirements
The following Wyoming Economic Development Entities are eligible to apply for Pre-Obligation of WDTF program funding under this section:
- Local, regional, or state economic development organization;
- City or town council;
- County commission; and
- Tribal council.
Application Information
For additional information and to apply online, see the website or call the Wyoming Department of Workforce Services at (307) 777-8534.
Additional information available from The Council for Community and Economic Research.
BROWNFIELDS REVOLVING LOAN FUND
WYOMING BUSINESS COUNCIL
The purpose of the Wyoming Brownfields Revolving Loan Fund (WBRLF) is to facilitate the reuse and/or redevelopment of contaminated sites by making low cost funding available for financing environmental cleanups.
CONTRACT LOAN PROGRAM
WYOMING BUSINESS COUNCIL
The Contract Loan program was designed to help Wyoming businesses have a way to take on larger orders by financing the raw materials.
RURAL DEVELOPMENT GRANTS
WYOMING BUSINESS COUNCIL
The Wyoming Business Council offers rural development grants to organizations to improve the conditions of rural Wyoming.
SBIR MATCHING GRANT PROGRAM
WYOMING BUSINESS COUNCIL
The SBIR Matching Grant program is designed to match funds for Wyoming companies who have been awarded Phase I or Phase II federal funds through the Small Business Innovation Research (SBIR) or Small Business Technology Transfer (STTR) programs.
BUSINESS READY COMMUNITY GRANT AND LOAN PROGRAM
WYOMING BUSINESS COUNCIL
The Business Ready Community Grant and Loan Program provides financing for publicly owned infrastructure that serves the needs of businesses and promotes economic development within Wyoming communities.
CHALLENGE LOAN PROGRAM
WYOMING BUSINESS COUNCIL
The Wyoming Partnership Challenge Loan Program authorized the State of Wyoming to participate with local economic development organizations in matching loans for the benefit of area businesses.
ECONOMIC DEVELOPMENT LARGE PROJECT PROGRAM
WYOMING BUSINESS COUNCIL
The Wyoming Economic Development Large Project Program lends funds for the benefit of Wyoming businesses.
ECONOMIC DISASTER LOAN PROGRAM
WYOMING BUSINESS COUNCIL
The Wyoming Business Council can partner with a local economic development organization to create combined loan proceeds that assist a business (third-party loan recipient).
NEW MARKETS TAX CREDIT
WYOMING BUSINESS COUNCIL
The New Markets Tax Credit was designed to increase the flow of private sector capital to businesses, nonprofits, community facilities, and other important projects in Americas poorest communities.
VALUE-ADDED AG LOAN
WYOMING BUSINESS COUNCIL
Wyoming producers, producer groups or agribusiness entities may work with their lender to apply for the program.
WORKFORCE DEVELOPMENT TRAINING FUND - BUSINESS TRAINING GRANTS
WYOMING DEPARTMENT OF WORKFORCE SERVICES
Business Training Grants are available to Wyoming businesses to correct an employees skill deficiency or upgrade their skill level in their current occupations.
WORKFORCE DEVELOPMENT TRAINING FUND - INTERNSHIP GRANTS
WYOMING DEPARTMENT OF WORKFORCE SERVICES
Internship Grants funding aims to provide Wyoming businesses the opportunity to offer structured learning experiences to individuals through internships that enhance an individuals work skills, knowledge and abilities.
WORKFORCE DEVELOPMENT TRAINING FUND - PRE-OBLIGATION GRANTS
WYOMING DEPARTMENT OF WORKFORCE SERVICES
The Pre-Obligation Grant provides a means for Wyoming Economic Development Entities to request obligation of funding to attract business and industry to Wyoming.
WYOMING MAIN STREET LOAN PROGRAM
WYOMING BUSINESS COUNCIL
Wyoming Main Street Loan Participation Program or the Main Street Loan for short has the mission of helping to maintain historical buildings.
WYOMING NATURAL GAS FUELING INFRASTRUCTURE LOAN PROGRAM
WYOMING BUSINESS COUNCIL
Wyoming Natural Gas Fueling Infrastructure Loan Program allows for a direct loan to a business for the purpose of financing qualifying costs to install a functioning natural gas filling station to fuel motor vehicles that operate on natural gas as a transportation fuel.