Dean Barber, Principal, Barber Business Advisors, LLC

By Dean Barber, Principal, Barber Business Advisors, LLC

The post Not So Wild A Dream appeared first on Business Facilities.

TX Statewide Economic Development Agencies

TX Utilities

TX Regional Economic Development Agencies

TX County Economic Development Agencies

TX City Economic Development Agencies

Texas State Incentives

THE TEXAS EMERGING TECHNOLOGY FUND (ETF) provides Texas with an unparalleled advantage in the research, development, and commercialization of emerging technologies. ETF grants are awarded in the following three areas:

• Commercialization Awards: funds to help companies take ideas from concept to development to ready for the marketplace.
• Matching Awards: funds create public-private partnerships which leverage the unique strengths of universities, federal government grant programs, and industry.
• Research Superiority Acquisition: funds for Texas higher education institutions to recruit the best research talent in the world.

The ETF was created by the Texas Legislature in 2005 at the urging of Gov. Perry to provide Texas with an unparalleled advantage in the research, development, and commercialization of emerging technologies. ETF grants are awarded in the following three areas:

• Commercialization Awards: funds to help companies take ideas from concept to development to ready for the marketplace.
• Matching Awards: funds create public-private partnerships which leverage the unique strengths of universities, federal government grant programs, and industry.
• Research Superiority Acquisition: funds for Texas higher education institutions to recruit the best research talent in the world.

THE TEXAS ENTERPRISE ZONE PROGRAM is an economic development tool for local communities to partner with the State of Texas to promote job creation and capital investment in economically distressed areas of the state. Designated projects are eligible to apply for state sales and use tax refunds on qualified expenditures. The level and amount of refund is related to the capital investment and jobs created at the qualified business site. For more information, visit www.governor.state.tx.us/ecodev/financial_resources/tax_incentives/

TEXAS ENTERPRISE FUND (TEF): Established in 2003 to help attract new jobs and investment to the state. The fund is used only as a final incentive tool where a single Texas site is competing with another viable out-of-state option. Additionally, the TEF will only be considered to help close a deal that already has significant local support behind it from a prospective Texas community.

Projects considered for the TEF must demonstrate a significant rate of return on the public dollars being invested in the project. Additionally there are several primary measures that every TEF project must meet in order to be considered for an award. Those include but are not limited to the following:

• Competition with another state for the project must exist and the business must not have already announced a location decision
• Projected new job creation must be significant–typically more than 100 jobs in urban areas or more than 50 in rural areas
• New positions must be high-paying– above average wage of the county where the project would be located
• Capital investment by the company must be significant
• The project must have community involvement from the city, county and/or school district, primarily in the form of local economic incentive offers
• The applicant must be financially sound
• The applicant’s business sector must be an advanced industry that could potentially locate in another state or country

The DEFENSE ECONOMIC READJUSTMENT ZONE PROGRAM (DERZ) was established as a tool for business recruitment and job creation in adversely impacted defense dependent communities. It is designed to provide assistance to Texas communities, businesses and workers impacted by, or vulnerable to, the closure or realignment of military installations and the reduction of federal defense contracting expenditures. Local communities may also offer benefits to participants under the defense economic readjustment zone program as well. These may include tax abatement, tax increment financing, one-stop permitting and others. For more information, visit: www.governor.state.tx.us/ecodev/financial_resources/tax_incentives/

The FEDERAL ENTERPRISE ZONE/RENEWAL COMMUNITY PROGRAMS are Federal interagency efforts focused on the creation of self-sustaining, long-term development in distressed urban and rural areas throughout the Nation. The program uses a combination of Federal tax incentives to assist participating communities in development, reinvigoration, and growth. These Federal Designations are recognized through December 31, 2009. For more information, visit: www.governor.state.tx.us/ecodev/financial_resources/tax_incentives/

TEXAS PRODUCT/BUSINESS FUND: Provides financing to existing technology-focused companies that create products or do business within the state. Financing is done in the form of direct asset-based loans with a competitive variable interest rate tied to LIBOR. Loans can be amortized up to the life of the asset. Texas companies or out-of-state/international companies doing business in the state are eligible to apply. Funding preferences will be given to emerging technologies including semiconductors, nanotechnology, biotechnology and biomedicine, renewable energy, agriculture and aerospace.

Attributes of the Texas Product/Business Fund:

• Asset-Based Loans
• Competitive Loan-To-Value (LTV)
• Positive EBITDA not required
• Secure Loans with Property Plant & Equipment (PP&E)
• Secure Loans with Accounts Receivable
• Competitive variable interest rates
• Communities or individuals can assist as Guarantors

SKILLS DEVELOPMENT FUND: Assists businesses and trade unions by financing the design and implementation of customized job training projects. This fund merges business needs and local customized training opportunities into a winning formula to increase the skills level and wages of the Texas workforce. Grants for a single business may be limited to $500,000.

TEXAS INDUSTRY DEVELOPMENT LOAN PROGRAM (TID): Provides capital to Texas communities at favorable market rates. The main objective is to support projects that will stimulate the creation of jobs and corporate expansion and relocation. TID loans can be used for a variety of purposes, including the purchase of land, buildings, construction, machinery and equipment. TID financing is available for loans above $5,000,000.

DEFENSE ECONOMIC READJUSTMENT ZONE PROGRAM (DERZ): Established as a tool for business recruitment and job creation in adversely impacted defense dependent communities. It is designed to provide assistance to Texas communities, businesses and workers impacted by, or vulnerable to, the closure or realignment of military installations and the reduction of federal defense contracting expenditures.

Benefits to participation:

• Designated readjustment projects are eligible to apply for a state sales and use tax refund on qualified expenditures.
• The number of jobs eligible for a refund will not exceed 500 or a number equal to 110 percent of the anticipated new permanent/retained jobs.
• The maximum refund per allocated job is $2,500.
• Local communities may also offer benefits to participants under the defense economic readjustment zone program as well. These may include tax abatement, tax increment financing, one-stop permitting and others.

The post Texas Economic Development Directory appeared first on Business Facilities.

TX Statewide Economic Development Agencies

TX Utilities

TX Regional Economic Development Agencies

TX County Economic Development Agencies

TX City Economic Development Agencies

Texas State Incentives

THE TEXAS EMERGING TECHNOLOGY FUND (ETF) provides Texas with an unparalleled advantage in the research, development, and commercialization of emerging technologies. ETF grants are awarded in the following three areas:

• Commercialization Awards: funds to help companies take ideas from concept to development to ready for the marketplace.
• Matching Awards: funds create public-private partnerships which leverage the unique strengths of universities, federal government grant programs, and industry.
• Research Superiority Acquisition: funds for Texas higher education institutions to recruit the best research talent in the world.

The ETF was created by the Texas Legislature in 2005 at the urging of Gov. Perry to provide Texas with an unparalleled advantage in the research, development, and commercialization of emerging technologies. ETF grants are awarded in the following three areas:

• Commercialization Awards: funds to help companies take ideas from concept to development to ready for the marketplace.
• Matching Awards: funds create public-private partnerships which leverage the unique strengths of universities, federal government grant programs, and industry.
• Research Superiority Acquisition: funds for Texas higher education institutions to recruit the best research talent in the world.

THE TEXAS ENTERPRISE ZONE PROGRAM is an economic development tool for local communities to partner with the State of Texas to promote job creation and capital investment in economically distressed areas of the state. Designated projects are eligible to apply for state sales and use tax refunds on qualified expenditures. The level and amount of refund is related to the capital investment and jobs created at the qualified business site. For more information, visit www.governor.state.tx.us/ecodev/financial_resources/tax_incentives/

TEXAS ENTERPRISE FUND (TEF): Established in 2003 to help attract new jobs and investment to the state. The fund is used only as a final incentive tool where a single Texas site is competing with another viable out-of-state option. Additionally, the TEF will only be considered to help close a deal that already has significant local support behind it from a prospective Texas community.

Projects considered for the TEF must demonstrate a significant rate of return on the public dollars being invested in the project. Additionally there are several primary measures that every TEF project must meet in order to be considered for an award. Those include but are not limited to the following:

• Competition with another state for the project must exist and the business must not have already announced a location decision
• Projected new job creation must be significant–typically more than 100 jobs in urban areas or more than 50 in rural areas
• New positions must be high-paying– above average wage of the county where the project would be located
• Capital investment by the company must be significant
• The project must have community involvement from the city, county and/or school district, primarily in the form of local economic incentive offers
• The applicant must be financially sound
• The applicant’s business sector must be an advanced industry that could potentially locate in another state or country

The DEFENSE ECONOMIC READJUSTMENT ZONE PROGRAM (DERZ) was established as a tool for business recruitment and job creation in adversely impacted defense dependent communities. It is designed to provide assistance to Texas communities, businesses and workers impacted by, or vulnerable to, the closure or realignment of military installations and the reduction of federal defense contracting expenditures. Local communities may also offer benefits to participants under the defense economic readjustment zone program as well. These may include tax abatement, tax increment financing, one-stop permitting and others. For more information, visit: www.governor.state.tx.us/ecodev/financial_resources/tax_incentives/

The FEDERAL ENTERPRISE ZONE/RENEWAL COMMUNITY PROGRAMS are Federal interagency efforts focused on the creation of self-sustaining, long-term development in distressed urban and rural areas throughout the Nation. The program uses a combination of Federal tax incentives to assist participating communities in development, reinvigoration, and growth. These Federal Designations are recognized through December 31, 2009. For more information, visit: www.governor.state.tx.us/ecodev/financial_resources/tax_incentives/

TEXAS PRODUCT/BUSINESS FUND: Provides financing to existing technology-focused companies that create products or do business within the state. Financing is done in the form of direct asset-based loans with a competitive variable interest rate tied to LIBOR. Loans can be amortized up to the life of the asset. Texas companies or out-of-state/international companies doing business in the state are eligible to apply. Funding preferences will be given to emerging technologies including semiconductors, nanotechnology, biotechnology and biomedicine, renewable energy, agriculture and aerospace.

Attributes of the Texas Product/Business Fund:

• Asset-Based Loans
• Competitive Loan-To-Value (LTV)
• Positive EBITDA not required
• Secure Loans with Property Plant & Equipment (PP&E)
• Secure Loans with Accounts Receivable
• Competitive variable interest rates
• Communities or individuals can assist as Guarantors

SKILLS DEVELOPMENT FUND: Assists businesses and trade unions by financing the design and implementation of customized job training projects. This fund merges business needs and local customized training opportunities into a winning formula to increase the skills level and wages of the Texas workforce. Grants for a single business may be limited to $500,000.

TEXAS INDUSTRY DEVELOPMENT LOAN PROGRAM (TID): Provides capital to Texas communities at favorable market rates. The main objective is to support projects that will stimulate the creation of jobs and corporate expansion and relocation. TID loans can be used for a variety of purposes, including the purchase of land, buildings, construction, machinery and equipment. TID financing is available for loans above $5,000,000.

DEFENSE ECONOMIC READJUSTMENT ZONE PROGRAM (DERZ): Established as a tool for business recruitment and job creation in adversely impacted defense dependent communities. It is designed to provide assistance to Texas communities, businesses and workers impacted by, or vulnerable to, the closure or realignment of military installations and the reduction of federal defense contracting expenditures.

Benefits to participation:

• Designated readjustment projects are eligible to apply for a state sales and use tax refund on qualified expenditures.
• The number of jobs eligible for a refund will not exceed 500 or a number equal to 110 percent of the anticipated new permanent/retained jobs.
• The maximum refund per allocated job is $2,500.
• Local communities may also offer benefits to participants under the defense economic readjustment zone program as well. These may include tax abatement, tax increment financing, one-stop permitting and others.

The post Texas Economic Development Directory appeared first on Business Facilities.

MS Statewide Economic Development Agencies

MS Utilities

MS Regional Economic Development Agencies

MS County Economic Development Agencies

MS City Economic Development Agencies

Mississippi State Incentives

MISSISSIPPI FILM INDUSTRY INCENTIVE: Passed in 2011 and effective immediately, it increases the rebate by 5 percent and expands the definitions of qualified distribution and production to include new technology. The legislation increases the current rebate to 25 percent for qualified local spend and non-resident cast and crew payroll and to 30 percent for Mississippi resident cast and crew payroll. The per project rebate cap remains at $8 million (an approximate $30 million local spend) and the annual cap remains at $20 million. The expanded program added streaming video and Internet delivery as qualified distribution. New technology areas, such as animation, 3D applications, video game cinematics, visual effects and motion capture within the fields of feature film, television, commercials and games, were added as qualified production.

ADVANTAGE JOBS INCENTIVE PROGRAM: Provides for a rebate of a percentage of Mississippi payroll to qualified employers for a period of up to 10 years. It is available to businesses that promise significant expansion of the economy through the creation of jobs. The jobs must meet or exceed the average annual wage of the state or the county in which the company locates, whichever is lower. Minimum job creation requirements are based on the level of development of the county.

BROADBAND TECHNOLOGY TAX CREDIT: Credits provided to entities to encourage the deployment of high-speed Internet access throughout the state, with an emphasis on rural areas. Qualifying equipment used in the deployment of broadband technologies includes asynchronous transfer mode switches, digital subscriber line access multiplexers, routers, servers, multiplexes, fiber optics and related equipment.

Annual credit amounts are calculated as a percentage of eligible expenditures, based on equipment location, and is available for 10 years. The credits can be claimed against income or franchise tax, but the total amount of credits taken over the 10 year period cannot exceed 100 percent of the cost of the equipment. The credit percentage amount allowed per year is based on the development ranking of the county.

GROWTH AND PROSPERITY PROGRAM (GAP): Designed to encourage development in economically challenged areas of the state. It designates specific counties as GAP counties and provides income, franchise, sales and property tax incentives to companies that locate or expand in these locations. The following businesses that create 10 or more jobs are eligible to participate under the GAP Program:

• Manufacturing, processing, assembling, storing, warehousing, servicing, distributing or selling of any products or goods, including products of agriculture;
• Enterprises for research and development, 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 ten (10) jobs.

INDUSTRIAL PROPERTY TAX EXEMPTION: Up to a 10 year exemption from property taxes is available to eligible industries that locate or expand in the state. The exemption may be granted for all local property taxes except school district taxes on any property, but may not be granted on finished goods or rolling stock. The exemption usually includes land, buildings, machinery, equipment, furniture, fixtures, raw materials and work in process.

The following businesses qualify for this exemption, at the discretion of the county and city government:

• Manufacturers, Processors, and/or Refineries
• Research and Development Facilities
• Warehouse and Distribution Facilities
• Air and Transportation Maintenance Facilities
• Telecommunications Companies
• Data and Information Processing Companies
• Recreational Facilities that Impact Tourism
• Movie Industry Studios
• Technology intensive facilities

JOBS TAX CREDIT: Can be applied to state income tax to reduce an employer’s income tax liability. They are calculated as a percentage of eligible payroll each year for five years, based on job location and wages subject to state income tax. The credits are taken in years two through six after the new jobs are created. The following businesses qualify for these credits: Manufacturers, Wholesalers, Processors, Research and Development, Facilities, Distributors and 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 and Technology intensive facilities.

To be eligible for this credit, the employer must create and maintain an annual average employment of the minimum number of jobs required based on the development ranking of the county.

MANUFACTURING INVESTMENT TAX CREDIT: Existing manufacturers that have operated in Mississippi for two or more years may be eligible for investment tax credits that can be applied to the entity’s state income tax liability. To qualify, an existing manufacturer must invest $1,000,000 or more in buildings and/or equipment used in the manufacturing operation. The investment credit is calculated as 5 percent of the eligible investment for a project.

MOTION PICTURE PRODUCTION TAX INCENTIVE PROGRAM: A rebate program designed to encourage production of motion pictures in Mississippi. It is designed to return a portion of the qualified expenses incurred in the state back to the production company. To qualify, a project must be a nationally distributed feature length film, video, DVD, television series or commercial that is made (in whole or in part) in MS for theatrical or television viewing. The production of news or athletic events do not qualify, nor does any project that contains any material or performance deemed obscene, as defined in Section 97-29-103, Mississippi Code of 1972.

MISSISSIPPI AEROSPACE INITIATIVE INCENTIVES PROGRAM: Provides tax incentives to companies that manufacture or assemble components for the aerospace industry or provide research, development or training services for the sector and are looking to locate or expand in the state. These incentives include a 10-year exemption from income and franchise taxes, as well as a sales and use tax exemption for the start-up of the facility. In order to qualify, companies must invest a minimum of $30 million and create at least 100 full-time jobs.

MISSISSIPPI CLEAN ENERGY INITIATIVE PROGRAM: Allows the Mississippi Development Authority (MDA) to certify companies that manufacture systems or components used to generate clean, renewable or alternative energy. This includes nuclear, solar, wind and hydro-generation.

The program provides qualifying companies with a 10-year exemption from state income and franchise taxes, as well as a sales tax exemption to establish a plant or expand an existing production facility. To qualify, businesses must commit to invest a minimum of $50 million and create 250 full-time jobs.

MISSISSIPPI DATA CENTER INCENTIVES: State sales tax exemption for all computing equipment and software used by companies certified as data centers by the MDA. Both new and replacement equipment qualify for the tax exemption. The certification requires a minimum investment of $50 million and the creation of at least 50 new jobs paying 150 percent of the average state wage.

NATIONAL OR REGIONAL HEADQUARTERS TAX CREDIT: Equal between $500 and $2,000 per position and can be applied to state income tax to reduce an eligible entity’s corporate income tax liability. These credits are awarded to induce companies to establish a headquarters in Mississippi that includes officers and other high-level employees. Transferring or establishing a national or regional headquarters must create a minimum of 35 qualified jobs within a one year period. These credits can be in addition to Jobs Tax Credits and the combination can be used to offset up to fifty percent of the entity’s state income tax liability. Any unused credits can be carried forward up to five years.

NATIONAL OR REGIONAL HEADQUARTERS SALES TAX CREDIT: A sales and use tax exemption is available for eligible businesses that create or transfer their National or Regional Headquarters to the state. This exemption applies to component building materials used in the construction or improvement as well as the machinery and equipment used in the facility. A minimum of 35 new headquarters jobs must be created at the location to qualify for this exemption, as determined by the Mississippi State Tax Commission.

PROPERTY TAX EXEMPTION FOR INDUSTRIAL REVENUE BOND FINANCING: An exemption from property taxes on land, building and equipment is available and is valid for up to 10 years on property purchased with industrial revenue bond proceeds from bonds issued by the Mississippi Business Finance Corporation (MBFC).

PROPERTY TAX EXEMPTION ON IN-STATE INVENTORY: Local governing authorities may grant a 10-year exemption from property taxes on finished goods inventory that will remain in the state. The exemption may be granted for all local property taxes except school district taxes on any property.

PROPERTY TAX EXEMPTION FOR BROADBAND TECHNOLOGY: 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.

RESEARCH AND DEVELOPMENT SKILLS TAX CREDIT: Equal to $1,000 per employee per year for a five year period and can be used to reduce an eligible entity’s income tax liability. These credits are available for any position requiring R&D skills. There is no minimum number of positions that must be created to qualify for this credit and it is awarded in the amount of $1,000 per full-time employee per year for a five year period.
These credits can be in addition to Jobs Tax Credits and the combination can be used to offset up to fifty percent of the entity’s state income tax liability. Any unused credits can be carried forward up to five years.

SALES & USE TAX EXEMPTION FOR INDUSTRIAL REVENUE BOND FINANCING: To encourage construction and expansion within the state, the Mississippi Business Finance Corporation may issue IRBs for financing approved projects. Once projects are induced in the bond program, a sales tax exemption is available for all purchase made with bond proceeds.

SALES & USE TAX EXEMPTION FOR CONSTRUCTION OR EXPANSION: Available for eligible businesses that construct a new facility or expand an existing facility in the state. Eligible businesses include

Manufacturers and Custom Processors. In addition, the following businesses qualify upon receiving a designation by the MDA: Data and Information Processing Companies and Technology intensive facilities.

The amount of exemption that is allowed depends on the location of the facility. To qualify for this exemption, application must be made to the State Tax Commission prior to beginning the project.

SKILLS TRAINING INCOME TAX CREDIT: Can be applied to state income tax to reduce an employer’s income tax liability. These credits are earned by certain types of businesses that offer training to their employees in Mississippi. For expenses to qualify for the Skills Training Credit, the training program must be offered by, or be approved by, the community or junior college in the district where the business is located as well as the State Tax Commission.

DEVELOPMENT INFRASTRUCTURE GRANT PROGRAM (DIP): Available to fund publicly owned infrastructure and can be used by municipalities and counties to assist with the location or expansion of businesses. Usage of the funds must be directly related to the construction, renovation, or expansion of industry.

JOB PROTECTION GRANT PROGRAM: Available to fund “at risk” industries that have been operating in the state for at least three years and that have lost jobs or are at risk to lose jobs because such jobs have been outsourced. “Outsourced” means Mississippi jobs are being lost and relocated to industries in foreign countries. The funding can be used by “at risk” industries that retain jobs in MS and improve productivity.

ENERGY INVESTMENT LOAN PROGRAM: Provides loans to businesses that are increasing energy efficiency in their buildings, equipment and processes. Eligible industries include manufacturers, warehouses and distribution centers, research and development facilities, retail, telecommunications and data processing facilities and national or regional headquarters.

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 MDA. Eligible uses of loan proceeds include inventory purchase, working capital, machinery and equipment.

RESEARCH & DEVELOPMENT LOAN PROGRAM: Available to provide loans to qualified companies designated by the MDA. R&D companies must be meet minimum criteria before they apply, including that at least 10 percent of the workers at the facility must be scientists, engineers or computer specialists and the average wage of all workers at the facility must be at least 150 percent of the state average annual wage. A basic health care plan must be provided to all employees.

The post Mississippi Economic Development Directory appeared first on Business Facilities.

NH Statewide Economic Development Agencies

NH Utilities

NH Regional Economic Development Agencies

NH County Economic Development Agencies

NH City Economic Development Agencies

New Hampshire State Incentives

ECONOMIC REVITALIZATION ZONE TAX CREDITS (erz): Short term, tax credits against the business profits and enterprise taxes. To qualify, the location must meet certain demographic criteria, or be located in an unused or under utilized industrial park, or vacant land, or structures previously used for industrial, commercial, or retail purposes but currently not so used, or Brownfield site. The maximum credit over five years is $200,000, capped at $40,000 per year.

R&D TAX CREDIT: Small and large businesses can apply for tax credit on new research and development costs. The state has set aside $1million a year to fund the credit which is capped at $50,000 for any business that qualifies. This credit may be carried forward for up to five years.

COMMUNITY DEVELOPMENT BLOCK GRANT (CDBG): This assistance can be in the form of a grant to the municipality for the public infrastructure improvements on behalf of an expanding business or a loan to the business itself. The maximum amount of funding available for any given project is $500,000, regardless of size of the community applying for the grant. All grants have a one-year duration, and one job must be created for each $20,000 in CDBG funds granted. The key to this federal program is that a minimum of 60 percent of the jobs created must be filled by low and moderate-income persons.

The JOB TRAINING GRANT PROGRAM is a 50/50 cash match for customized training. There is a $100,000 cap on the training amount. Each application is reviewed on a case by case basis with an emphasis on improving the skills of current or new employees.

The COOS County Job Creation Tax Credit is a tax credit to businesses hiring new employees in COOS County and paying wages equal to or above 200 percent of minimum wage ($7.25 per hour). The credit is $1,000 for any new, full-time, year-round jobs applied to the Business Enterprise Tax, but any unused portion of the credit can be applied to the Business Profits Tax. All new jobs created after the bill’s effective dates are eligible for the credit and there is no cap on the amount of jobs created. The carry forward is five years.

INDUSTRIAL REVENUE BONDS: This program is for manufacturers only – companies which manufacture or produce tangible personal property. At least 75 percent of bond proceeds must be spent on core manufacturing space and equipment. Storage, office and R&D space must be excluded from this calculation. To be cost effective, loans must range between 1.5 and 20 million dollars. The interest rate is about 70 percent of prime and can be used for the purchase of land, buildings, and capital equipment.

NH-CDFA TAX CREDITS: The New Hampshire Community Development Finance Authority (CDFA) awards up to $5 million a year in New Hampshire Tax Credits to nonprofit organizations. These organizations then sell the Tax Credits to New Hampshire businesses as a way to raise needed capital for community projects around the state. In exchange for the contribution, a company can take 75 percent of the donation as a tax credit on their BET, BPT, or Insurance Premium Tax.

The post New Hampshire Economic Development Directory appeared first on Business Facilities.

NH Statewide Economic Development Agencies

NH Utilities

NH Regional Economic Development Agencies

NH County Economic Development Agencies

NH City Economic Development Agencies

New Hampshire State Incentives

ECONOMIC REVITALIZATION ZONE TAX CREDITS (erz): Short term, tax credits against the business profits and enterprise taxes. To qualify, the location must meet certain demographic criteria, or be located in an unused or under utilized industrial park, or vacant land, or structures previously used for industrial, commercial, or retail purposes but currently not so used, or Brownfield site. The maximum credit over five years is $200,000, capped at $40,000 per year.

R&D TAX CREDIT: Small and large businesses can apply for tax credit on new research and development costs. The state has set aside $1million a year to fund the credit which is capped at $50,000 for any business that qualifies. This credit may be carried forward for up to five years.

COMMUNITY DEVELOPMENT BLOCK GRANT (CDBG): This assistance can be in the form of a grant to the municipality for the public infrastructure improvements on behalf of an expanding business or a loan to the business itself. The maximum amount of funding available for any given project is $500,000, regardless of size of the community applying for the grant. All grants have a one-year duration, and one job must be created for each $20,000 in CDBG funds granted. The key to this federal program is that a minimum of 60 percent of the jobs created must be filled by low and moderate-income persons.

The JOB TRAINING GRANT PROGRAM is a 50/50 cash match for customized training. There is a $100,000 cap on the training amount. Each application is reviewed on a case by case basis with an emphasis on improving the skills of current or new employees.

The COOS County Job Creation Tax Credit is a tax credit to businesses hiring new employees in COOS County and paying wages equal to or above 200 percent of minimum wage ($7.25 per hour). The credit is $1,000 for any new, full-time, year-round jobs applied to the Business Enterprise Tax, but any unused portion of the credit can be applied to the Business Profits Tax. All new jobs created after the bill’s effective dates are eligible for the credit and there is no cap on the amount of jobs created. The carry forward is five years.

INDUSTRIAL REVENUE BONDS: This program is for manufacturers only – companies which manufacture or produce tangible personal property. At least 75 percent of bond proceeds must be spent on core manufacturing space and equipment. Storage, office and R&D space must be excluded from this calculation. To be cost effective, loans must range between 1.5 and 20 million dollars. The interest rate is about 70 percent of prime and can be used for the purchase of land, buildings, and capital equipment.

NH-CDFA TAX CREDITS: The New Hampshire Community Development Finance Authority (CDFA) awards up to $5 million a year in New Hampshire Tax Credits to nonprofit organizations. These organizations then sell the Tax Credits to New Hampshire businesses as a way to raise needed capital for community projects around the state. In exchange for the contribution, a company can take 75 percent of the donation as a tax credit on their BET, BPT, or Insurance Premium Tax.

The post New Hampshire Economic Development Directory appeared first on Business Facilities.

OH Statewide Economic Development Agencies

OH Utilities

OH Regional Economic Development Agencies

OH County Economic Development Agencies

OH City Economic Development Agencies

Ohio State Incentives

Ohio JOB CREATION TAX CREDIT: Provides corporate franchise or state income tax credit for businesses that expand or locate in Ohio for companies that incur tax liability under ORC Sections 5733.06 or 5747.02. Program will provide a tax credit against the Commercial Activity Tax (CAT) . Insurance companies that pay the annual franchise tax under ORC Sections 5725.18/5729.03 are eligible for the tax credit.

Ohio JOB RETENTION TAX CREDIT: Provides corporate franchise or state income tax credit for businesses that commit to retain a significant number of full-time jobs. Program will provide a tax credit against the Commercial Activity Tax (CAT).

Ohio RESEARCH AND DEVELOPMENT INVESTMENT TAX CREDIT: Provides a nonrefundable tax credit against the corporate franchise tax and is designed to encourage Ohio’s corporations to invest in increased research and development activities. The credit equals 7 percent of the excess amount of Qualified Research Expenses.

RESEARCH AND DEVELOPMENT SALES TAX EXEMPTION: Provides an exemption from the usual state and county sales tax for companies that purchase equipment for research and development activities. Exempts business from entire state and county sales tax for purchases of machinery and equipment used primarily for research and development.

RESEARCH & DEVELOPMENT INVESTMENT LOAN FUND: Provides loan financing of between $1 million and $5 million for projects primarily engaging in R&D activity. Rates are fixed (at or below market rates) with terms similar to those of commercial bank financing. Companies receive a dollar-for-dollar, non-refundable Ohio commercial activity tax credit for all principal and interest payments during the year.

MANUFACTURING MACHINERY & EQUIPMENT SALES TAX EXEMPTION: an exemption from state and county sales tax for companies that purchase machinery and equipment for manufacturing activities. Exempts business from entire state and county sales tax for purchases of machinery and equipment used primarily for manufacturing.

WAREHOUSE MACHINERY & EQUIPMENT SALES TAX EXEMPTION: Exempts business from entire state and county sales tax for purchases of eligible machinery and equipment. Includes machinery and equipment used primarily (51 percent) in storing, transporting, mailing or handling inventory in a warehouse, distribution center or similar facility if the inventory handled by the facility is primarily distributed outside Ohio to retail stores owned by the business or affiliated group that owns the Ohio facility or distributed by means of direct marketing.

TECHNOLOGY INVESTMENT TAX CREDIT: Offers a variety of benefits to Ohio taxpayers who invest in small, research and development and technology-oriented forms. This incentive provides a tax credit for taxpayers that invest in small, Ohio-based technology companies. The amount of the tax credit is 25 percent (or 30 percent in some limited cases) of the amount invested by the taxpayer. The maximum investment to which this credit may be applied is $250,000 (or $300,000). The credit may be claimed against personal income tax, corporate franchise tax, public utility excise tax or the dealers in intangibles tax.

ENTERPRISE ZONES: Provides real property tax incentives for businesses that expand or locate in Ohio (may provide personal property tax incentives for those qualifying businesses that continue to pay personal property tax).

OHIO HISTORIC PRESERVATION TAX CREDIT: Provides a tax credit for the rehabilitation expenses to owners of historically significant buildings. Funding is provided through competitive rounds based on economic benefit and regional distributive balance. The tax credit subsidy is 25 percent of qualified rehabilitation expenditures (QRE) not to exceed the QRE estimates in the application, with an application cap of $5 million.

COMMUNITY REINVESTMENT AREAS: Provides local real-property tax incentives for residents and businesses that invest in designated areas of Ohio—up to 100 percent exemption of the improved real property tax valuation for up to 15 years depending on the project.

RAPID OUTREACH GRANT: Funds are used for the acquisition of machinery and equipment, new building construction, building acquisition, on- or off-site infrastructure improvements and other fixed asset investments, manufacturing, research and development, high technology, corporate headquarters, and distribution. Given the demand for limited grant funds, qualified projects must involve substantial job creation or retention.

ROADWORK DEVELOPMENT (629) ACCOUNT: Available for public roadway improvements, including engineering and design costs. Funds are available for projects primarily involving manufacturing, R&D, high technology, corporate headquarters and distribution activity. Projects must typically create or retain jobs. Grants are usually provided to the local jurisdiction and require local participation.

INNOVATION OHIO LOAN FUND: Provides loans for acquisition, construction and related costs of technology, facilities and equipment purchase. It was created to assist existing Ohio companies in developing next-generation products and services within Targeted Industry Sectors.

OHIO ADVANCED ENERGY FUND: Administered by the Ohio Energy Office, connects companies and communities with financial and technical resources to deploy energy efficiency and renewable energy technologies, and to support advanced energy economic development.

OHIO ENTERPRISE BOND FUND: Provides revenue bond financing through an S&P rated fund whereby proceeds from the sale of bonds is loaned to companies for fixed-rate, long-term capital asset financing. Rates are fixed prior to funding, depending on the type of bond issued, with terms between seven to 10 years for equipment and 15 to 20 years for real estate. Up to $10 million in financing is available through the Program.

OHIO JOB READY SITES PROGRAM: Created to bolster Ohio’s inventory of available facility locations served by utility and transportation infrastructure. Sites improved under the program are kept ready for future business prospects seeking locations for new or expanded operations. The grants may be used to offset costs traditionally incurred in industrial and commercial site development, from acquisition of real property to utility upgrades to construction build-out of speculative facilities.

RURAL INDUSTRIAL PARK LOAN: Provides direct loans to rural, distressed local communities and applicants committed to creating well-planned industrial parks.

URBAN REDEVELOPMENT LOAN: Provides low-interest loans to municipalities or designated nonprofit economic development organizations to acquire real estate for assembly into developable parcels and remediate any Brownfield contamination site to entice private business investment in distressed urban locations.

WORKFORCE DEVELOPMENT FUNDING WORKFORCE GUARANTEE PROGRAM: Supports companies that are making investments in facilities, equipment and training that result in the retention and creation of jobs for Ohioans. It provides direct financial support to employers for training, paying for a portion of instructor salaries, materials, travel and special needs.

INVEST OHIO: Provides a non-refundable personal income tax credit to investors that infuse new equity (cash) into Ohio small businesses to acquire an ownership interest in the company. The small business is required to reinvest that infusion of cash into one of five categories of allowable expenses within six months of its receipt. The investor must retain his or her ownership interest for a two-year holding period before the tax credit may be claimed. The small business must similarly retain the property that it purchased from the cash infusion for the entire two-year holding period.

LOCAL GOVERNMENT INNOVATION FUND (LGIF): Established to provide financial assistance to Ohio political subdivisions for planning and implementing projects that are projected to create more efficient and effective service delivery within a specific discipline of government services for one or more entities. Through this program, the Ohio Department of Development seeks to promote efficiency, collaboration, merger and shared services among local governments. Projects are also expected to facilitate improved business environments and promote community attraction.

The LGIF program will award up to $100,000 in grant funds per feasibility study, up to $100,000 in loan assistance per entity for demonstration projects and up to $500,000 in loan assistance for collaborative demonstration projects. Award amounts for applicants with collaborative partners are limited to $100,000 per applicant and $100,000 for each collaborative partner up to $500,000. Grant funds will be awarded biannually and loan funds will be awarded quarterly through a competitive and open selection process.

OHIO NEW MARKETS TAX CREDIT PROGRAM: Provides investors with state tax credits in exchange for delivering below-market -rate investment options to Ohio businesses, sparking revitalization in Ohio’s low-income communities.

OHIO MOTION PICTURE TAX CREDIT: Provides a refundable credit against the corporation franchise or income tax for various Ohio productions. The tax credit is available to applicants making eligible productions as certified by the Director of Development. The tax credit is equal to 25 percent of non-wage and nonresident wage Ohio production expenditures and 35 percent of Ohio resident wage production expenditures.

VOLUME CAP: Provides a federal tax benefit by allowing eligible issuers to issue tax exempt Private Activity Bonds up to a state limit known as the “Volume Cap.” The State of Ohio’s allocation of Volume Cap is determined annually by the Internal Revenue Service on a per capita basis, and may be used for projects consisting of multi-family housing, single-family housing, exempt facilities, manufacturing and student loan bonds.

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OH Statewide Economic Development Agencies

OH Utilities

OH Regional Economic Development Agencies

OH County Economic Development Agencies

OH City Economic Development Agencies

Ohio State Incentives

Ohio JOB CREATION TAX CREDIT: Provides corporate franchise or state income tax credit for businesses that expand or locate in Ohio for companies that incur tax liability under ORC Sections 5733.06 or 5747.02. Program will provide a tax credit against the Commercial Activity Tax (CAT) . Insurance companies that pay the annual franchise tax under ORC Sections 5725.18/5729.03 are eligible for the tax credit.

Ohio JOB RETENTION TAX CREDIT: Provides corporate franchise or state income tax credit for businesses that commit to retain a significant number of full-time jobs. Program will provide a tax credit against the Commercial Activity Tax (CAT).

Ohio RESEARCH AND DEVELOPMENT INVESTMENT TAX CREDIT: Provides a nonrefundable tax credit against the corporate franchise tax and is designed to encourage Ohio’s corporations to invest in increased research and development activities. The credit equals 7 percent of the excess amount of Qualified Research Expenses.

RESEARCH AND DEVELOPMENT SALES TAX EXEMPTION: Provides an exemption from the usual state and county sales tax for companies that purchase equipment for research and development activities. Exempts business from entire state and county sales tax for purchases of machinery and equipment used primarily for research and development.

RESEARCH & DEVELOPMENT INVESTMENT LOAN FUND: Provides loan financing of between $1 million and $5 million for projects primarily engaging in R&D activity. Rates are fixed (at or below market rates) with terms similar to those of commercial bank financing. Companies receive a dollar-for-dollar, non-refundable Ohio commercial activity tax credit for all principal and interest payments during the year.

MANUFACTURING MACHINERY & EQUIPMENT SALES TAX EXEMPTION: an exemption from state and county sales tax for companies that purchase machinery and equipment for manufacturing activities. Exempts business from entire state and county sales tax for purchases of machinery and equipment used primarily for manufacturing.

WAREHOUSE MACHINERY & EQUIPMENT SALES TAX EXEMPTION: Exempts business from entire state and county sales tax for purchases of eligible machinery and equipment. Includes machinery and equipment used primarily (51 percent) in storing, transporting, mailing or handling inventory in a warehouse, distribution center or similar facility if the inventory handled by the facility is primarily distributed outside Ohio to retail stores owned by the business or affiliated group that owns the Ohio facility or distributed by means of direct marketing.

TECHNOLOGY INVESTMENT TAX CREDIT: Offers a variety of benefits to Ohio taxpayers who invest in small, research and development and technology-oriented forms. This incentive provides a tax credit for taxpayers that invest in small, Ohio-based technology companies. The amount of the tax credit is 25 percent (or 30 percent in some limited cases) of the amount invested by the taxpayer. The maximum investment to which this credit may be applied is $250,000 (or $300,000). The credit may be claimed against personal income tax, corporate franchise tax, public utility excise tax or the dealers in intangibles tax.

ENTERPRISE ZONES: Provides real property tax incentives for businesses that expand or locate in Ohio (may provide personal property tax incentives for those qualifying businesses that continue to pay personal property tax).

OHIO HISTORIC PRESERVATION TAX CREDIT: Provides a tax credit for the rehabilitation expenses to owners of historically significant buildings. Funding is provided through competitive rounds based on economic benefit and regional distributive balance. The tax credit subsidy is 25 percent of qualified rehabilitation expenditures (QRE) not to exceed the QRE estimates in the application, with an application cap of $5 million.

COMMUNITY REINVESTMENT AREAS: Provides local real-property tax incentives for residents and businesses that invest in designated areas of Ohio—up to 100 percent exemption of the improved real property tax valuation for up to 15 years depending on the project.

RAPID OUTREACH GRANT: Funds are used for the acquisition of machinery and equipment, new building construction, building acquisition, on- or off-site infrastructure improvements and other fixed asset investments, manufacturing, research and development, high technology, corporate headquarters, and distribution. Given the demand for limited grant funds, qualified projects must involve substantial job creation or retention.

ROADWORK DEVELOPMENT (629) ACCOUNT: Available for public roadway improvements, including engineering and design costs. Funds are available for projects primarily involving manufacturing, R&D, high technology, corporate headquarters and distribution activity. Projects must typically create or retain jobs. Grants are usually provided to the local jurisdiction and require local participation.

INNOVATION OHIO LOAN FUND: Provides loans for acquisition, construction and related costs of technology, facilities and equipment purchase. It was created to assist existing Ohio companies in developing next-generation products and services within Targeted Industry Sectors.

OHIO ADVANCED ENERGY FUND: Administered by the Ohio Energy Office, connects companies and communities with financial and technical resources to deploy energy efficiency and renewable energy technologies, and to support advanced energy economic development.

OHIO ENTERPRISE BOND FUND: Provides revenue bond financing through an S&P rated fund whereby proceeds from the sale of bonds is loaned to companies for fixed-rate, long-term capital asset financing. Rates are fixed prior to funding, depending on the type of bond issued, with terms between seven to 10 years for equipment and 15 to 20 years for real estate. Up to $10 million in financing is available through the Program.

OHIO JOB READY SITES PROGRAM: Created to bolster Ohio’s inventory of available facility locations served by utility and transportation infrastructure. Sites improved under the program are kept ready for future business prospects seeking locations for new or expanded operations. The grants may be used to offset costs traditionally incurred in industrial and commercial site development, from acquisition of real property to utility upgrades to construction build-out of speculative facilities.

RURAL INDUSTRIAL PARK LOAN: Provides direct loans to rural, distressed local communities and applicants committed to creating well-planned industrial parks.

URBAN REDEVELOPMENT LOAN: Provides low-interest loans to municipalities or designated nonprofit economic development organizations to acquire real estate for assembly into developable parcels and remediate any Brownfield contamination site to entice private business investment in distressed urban locations.

WORKFORCE DEVELOPMENT FUNDING WORKFORCE GUARANTEE PROGRAM: Supports companies that are making investments in facilities, equipment and training that result in the retention and creation of jobs for Ohioans. It provides direct financial support to employers for training, paying for a portion of instructor salaries, materials, travel and special needs.

INVEST OHIO: Provides a non-refundable personal income tax credit to investors that infuse new equity (cash) into Ohio small businesses to acquire an ownership interest in the company. The small business is required to reinvest that infusion of cash into one of five categories of allowable expenses within six months of its receipt. The investor must retain his or her ownership interest for a two-year holding period before the tax credit may be claimed. The small business must similarly retain the property that it purchased from the cash infusion for the entire two-year holding period.

LOCAL GOVERNMENT INNOVATION FUND (LGIF): Established to provide financial assistance to Ohio political subdivisions for planning and implementing projects that are projected to create more efficient and effective service delivery within a specific discipline of government services for one or more entities. Through this program, the Ohio Department of Development seeks to promote efficiency, collaboration, merger and shared services among local governments. Projects are also expected to facilitate improved business environments and promote community attraction.

The LGIF program will award up to $100,000 in grant funds per feasibility study, up to $100,000 in loan assistance per entity for demonstration projects and up to $500,000 in loan assistance for collaborative demonstration projects. Award amounts for applicants with collaborative partners are limited to $100,000 per applicant and $100,000 for each collaborative partner up to $500,000. Grant funds will be awarded biannually and loan funds will be awarded quarterly through a competitive and open selection process.

OHIO NEW MARKETS TAX CREDIT PROGRAM: Provides investors with state tax credits in exchange for delivering below-market -rate investment options to Ohio businesses, sparking revitalization in Ohio’s low-income communities.

OHIO MOTION PICTURE TAX CREDIT: Provides a refundable credit against the corporation franchise or income tax for various Ohio productions. The tax credit is available to applicants making eligible productions as certified by the Director of Development. The tax credit is equal to 25 percent of non-wage and nonresident wage Ohio production expenditures and 35 percent of Ohio resident wage production expenditures.

VOLUME CAP: Provides a federal tax benefit by allowing eligible issuers to issue tax exempt Private Activity Bonds up to a state limit known as the “Volume Cap.” The State of Ohio’s allocation of Volume Cap is determined annually by the Internal Revenue Service on a per capita basis, and may be used for projects consisting of multi-family housing, single-family housing, exempt facilities, manufacturing and student loan bonds.

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MI Statewide Economic Development Agencies

MI Utilities

MI Regional Economic Development Agencies

MI County Economic Development Agencies

MI City Economic Development Agencies

Michigan State Incentives

BUSINESS TAX REFORM: The unpopular Michigan Business Tax (MBT) will be replaced effective January 1, 2012 with a simpler and competitive corporate income tax. What does this mean? All industries are in line for significant tax cuts. Lower rates will tax C corporations at 6 percent on federal taxable income apportioned to Michigan. Other entities—individuals, partnerships and LLCs—have income flow to their personal income tax. It is expected that 100,000 businesses will pay no business taxes. The personal income tax rate remains 4.35 percent and is scheduled to decline to 4.25 percent in 2013. The new simplified tax system eliminates a laundry list of MBT credits and deductions. The alternative business income tax for small business remains intact. When the 2012 tax changes take effect, Michigan is projected to rank #13 in the Tax Foundation’s U.S. overall business tax climate ranking, and #22 for corporate taxes, up from #48.

PURE MICHIGAN BUSINESS CONNECT: Michigan businesses now have new ways to buy and sell, raise capital and connect with one another. Pure Michigan Business Connect is a $3 billion public-private economic gardening initiative matching people with resources and strengthening relationships to fuel economic growth, including:

• venture capital, debt financing, collateral support, other funding assistance
• customized market research
• executive and professional talent search assistance
• training support
• customized site searches
• ombudsman services
• entrepreneur services
• export assistance
• legal services
• matchmaking with Michigan suppliers

NEW INCENTIVE PROGRAMS FOR BUSINESS, COMMUNITY DEVELOPMENT: New economic development and community revitalization programs will provide $100 million in incentives for highly competitive projects in Michigan.

The Michigan Business Development and Michigan Community Revitalization Programs replace the state’s previous MEGA, Brownfield and Historic tax credit programs that were features of the old Michigan Business Tax.

The Michigan Business Development Program will provide grants, loans or other economic assistance of up to $10 million to businesses that are creating qualified new jobs and making new investments in Michigan. Factors to be considered in making these awards include: out-of-state competition, private investment in the project, business diversification opportunities, near-term job creation, wage and benefit levels of the new jobs, and net-positive return to the state. Business retention and retail projects are not eligible for consideration of these incentives.

The Michigan Community Revitalization Program will provide grants, loans, or other economic assistance of up to $10 million to projects that will revitalize regional urban areas, act as a catalyst for additional investment in a community, reuse vacant or historic buildings and promote mixed use and sustainable development.

NEW TALENT PORTAL: Through the MEDC Job Portal, employers can register to post openings and work closely with the MEDC’s Talent Acquisition team to devise strategies to meet their talent needs. Companies posting on the Job Portal will also have access to the MEDC’s other talent acquisition services, including targeted marketing and social media outreach, career events, assistance with identifying relocation services and a triage approach to addressing hard-to-fill positions and hiring challenges. The portal also allows job seekers to search for positions around the state, create profiles and add their resumes to the talent database. The MEDC Job Portal is currently being used in concert with the Michigan Talent Bank. Both systems are working together to effectively connect Michigan’s businesses and job seekers.

COST-CUTTING & OMBUDSMAN SERVICES: The MEDC helps companies save money through Workers’ Compensation Cost Control Service. Companies are also assisted in finding property for expansions. The Business Ombudsman Office provides impartial, independent and confidential assistance in resolving disputes and investigating business complaints against state government agencies.

FEDERAL CONTRACT ASSISTANCE: With the growing need for qualified defense contractors, the Michigan Defense Center strategically connects defense industry buyers and prime contractors with Michigan based-companies. In addition, Procurement Technical Assistance Centers assist companies throughout the entire government procurement process from pre-award to post-award. MEDC also tracks federal grant programs and makes companies aware of opportunities and offer letters of support where applicable.

PATENT/TRADEMARK WORK: In conjunction with Michigan law firms and the Small Business Technology Development Center network, the MEDC is launching an initiative to make available pro bono services in the IP sectors of patents, trademark and copyright laws.

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NJ Statewide Economic Development Agencies

NJ Utilities

NJ Regional Economic Development Agencies

NJ County Economic Development Agencies

NJ City Economic Development Agencies

Jersey City Economic Development Corporation
Dan Frohwirth
Director of Real Estate/Marketing
30 Montgomery Street, Suite 820
Jersey City, NJ USA 07302
201-333-7797 ext 32
dan@jcedc.org
www.jcedc.org
Jersey City is the choice of the world’s top businesses, offering affordable, state-of-the-art facilities, proximity to New York, substantial economic incentives/benefits and the state’s largest Urban Enterprise Zone program.

NEW JERSEY State Incentives

NEW JERSEY PARTNERSHIP FOR ACTION: A three-pronged public-private approach to economic development and the starting point for all initiatives, policies and efforts to grow New Jersey’s economy and create quality, sustainable jobs in our communities. The three elements of the Partnership include Choose New Jersey, an independently funded and operated 501(c)(3) nonprofit corporation created to encourage and nurture economic growth throughout New Jersey; the Business Action Center, which reports directly to the Lieutenant Governor and provides the business community with a single point of contact, applying a proactive, customer-service approach to businesses’ interactions with State government; and, the New Jersey Economic Development Authority (EDA), serving as the state’s “bank for business.”

The ECONOMIC REDEVELOPMENT AND GROWTH (ERG) PROGRAM is a reimbursement incentive that enables developers to use up to 75 percent of new State and/or local incremental taxes generated from a project to fund financing gaps. The program provides up to 20 percent of the total project cost, paid out over a period of up to 20 years. Redevelopment projects in qualifying areas that have secured a municipal ordinance and demonstrated sufficient net benefits may be eligible for assistance.

URBAN TRANSIT HUB TAX CREDIT PROGRAM: A financial tool designed to spur private capital investment, business development and employment by providing tax credits for businesses planning a large expansion or relocating to one of New Jersey’s designated Urban Transit Hubs. The program offers developers, owners or tenants up to 100 percent of a qualified capital investment made within an eight period. Taxpayers may apply 10 percent of the total credit amount per year over a ten-year period against their corporate business tax, insurance premiums tax or gross income tax liability. Developers or owners must make a minimum $50 million capital investment in a single business facility, and at least 250 full-time employees must work at that facility. Tenants in a qualified business facility can represent at least $17.5 million of the capital investment in the facility, and up to three tenants may aggregate to meet the 250 employee requirement.

The BUSINESS EMPLOYMENT INCENTIVE PROGRAM (BEIP) is a powerful incentive that encourages businesses to locate and expand in New Jersey. Approved businesses receive annual cash grants based on the number of new jobs created in the State. In order to qualify, businesses must create at least 25 new jobs within a 2-year period; emerging high technology and biotech companies’ eligibility threshold is 10 new jobs. A business must also demonstrate that the BEIP grant is a “material” factor in moving the job expansion or relocation forward in New Jersey, and that it is economically viable. The standard BEIP incentive is limited at 50 percent of the employees’ state income taxes withheld on the newly created jobs; however, companies that meet certain Smart Growth objectives can have their grant boosted to 80 percent. Qualifying businesses may be eligible for up to 10 years worth of grants, though they must maintain the project and the jobs in New Jersey for at least 1.5 times the number of years the grant is in effect.

The BUSINESS RETENTION & RELOCATION ASSISTANCE GRANT (BRRAG) is a recently enhanced program designed to help companies preserve jobs, expand operations and reinvest in New Jersey. The program provides corporate business tax credits to companies that are relocating operations within New Jersey and retaining at least 50 full-time jobs. Up to $2,250 per year for up to six years is now available per each job retained in the State. The award amount is dependent on the application of “bonus credits,” which may be available for the relocation of jobs to urban centers, and/or for a capital investment at least twice that of the value of the awarded credits. The number of times the yearly tax credit amount is awarded is dependent on the number of retained jobs. Companies must commit to remaining in the State for the tax credit term and an additional five years. For leased project locations, the business must sign a written lease for a period of no less than the commitment duration or eight years, whichever is greater. The total amount of credits that can be applied against a single company’s tax liability in a fiscal year may not exceed $10 million.

SALES AND USE TAX EXEMPTION PROGRAM (STX), a program often used in conjunction with BRRAG that offers companies a sales tax exemption certificate which applies only to property purchased for installation at the approved project site. This certificate allows the business to purchase machinery, equipment, furniture, fixtures, and building materials for the project without the imposition of the state’s 7 percent sales tax. Eligible companies must have 1,000 or more employees in New Jersey and relocate 500 or more to a new business location. Life sciences or manufacturing companies may be eligible if they relocate 250 or more employees to a new facility. Companies must maintain the retained full-time jobs in New Jersey for five years.

BOND FINANCING: A creditworthy manufacturing company, a 501(c)(3) not-for-profit organization or an exempt facility in New Jersey can apply for long-term financing under the Bond Financing Program. $500,000 to $10 million in tax-exempt bonds for for-profit companies, with either a fixed or variable interest rate, and terms up to 20 years for real estate and 10 years for equipment. Or, $500,000 with no dollar limit in tax-exempt bonds for qualified not-for-profit organizations.

Tax-exempt bonds for eligible for-profit companies can be used to finance capital improvements and expansions, including real estate acquisitions, new equipment, machinery, building construction, and renovations. Tax-exempt bonds for not-for-profit organizations seeking capital to expand community services can be used to finance land and building acquisitions, new construction and renovations, equipment purchases, debt refinancing and working capital. Government tax-exempt bonds can be used for projects that are owned and operated for the benefit of local, county and state government bodies.

SMALL BUSINESS FUND: An expedited approval process provides financial assistance to qualified businesses through direct loans or guarantees, with the choice of a variable or fixed interest rate. A small, minority-owned or women-owned business in NJ in operation for at least one full year or not-for-profit corporation in operation for at least three full years may qualify for up to $300,000 for credit scores greater than or equal to 700; up to $125,000 for credit scores greater than or equal to 650; and up to $300,000 for Not-for-Profits with 1.1X historical debt service coverage. It may be used for fixed assets and working capital.

ENERGY EFFICIENCY REVOLVING LOAN FUND (EE RLF): New Jersey-based commercial, institutional or industrial entities (including 501(c)(3) organizations) that have received an approved Energy Reduction Plan under the NJ Board of Public Utilities’ Pay for Performance program may be eligible for supplemental financing through the EE RLF. Also eligible are those entities participating in the NJ Board of Public Utilities’ Large Energy Users Pilot Program. Financing, in the form of low-interest loans, can be used to support up to 80 percent of total eligible project costs, not to exceed $2.5 million or 100 percent of total eligible project costs from all public State funding sources. Funds can be used for whole-building energy improvements.

NEW JERSEY BUSINESS GROWTH FUND: A joint program of the EDA and PNC Bank. Small or mid-sized companies that are creating or retaining jobs in NJ can apply for financing of up to a $3 million bank loan with a 25 percent or 50 percent EDA guarantee. The maximum EDA guarantee is $1.5 million. It can be used for the funding of real estate or equipment. Companies must commit to create one full-time job in NJ for every $50,000 of guarantee provided by the EDA with the exception of manufacturers, which must commit to maintain one existing full-time job in New Jersey per $50,000.

EDISON INNOVATION CLEAN ENERGY MANUFACTURING FUND (CEMF): Provides support for manufacturers that need to identify a manufacturing site, perform site improvements, construct a facility and/or purchase equipment. Organizations awarded a grant under CEMF are automatically certified as a NJ manufacturer through New Jersey’s Renewable Energy Manufacturing Incentive (REMI) program. REMI provides rebates to New Jersey residents, businesses, local governments and not-for-profit organizations that purchase and install solar panels, inverters and racking systems manufactured in NJ.

A qualified manufacturer of Class I renewable energy or energy efficiency systems, products or technologies may be eligible for up to $3.3 million in grants and loans for project assessment and design, and project construction and operation associated with a new manufacturing line or the material expansion of an existing line of a New Jersey manufacturing facility.

EDISON INNOVATION ANGEL GROWTH FUND: Leverages private angel investors in support of early-stage, emerging technology businesses in a less dilutive manner than equity. An angel supported NJ-based technology company with minimum trailing 12 month commercial revenues of $500,000 derived from core business activities, such as the sale of technology products can apply for growth capital of up to $250,000 to be used for key hires, product rollout, product enhancement and marketing/sales.

MAIN STREET BUSINESS ASSISTANCE PROGRAM: Provides financial support to commercial banks in New Jersey to provide financial assistance to small and mid-sized businesses and not-for-profit organizations with projects in NJ. It can provide direct loans, bank term loan participations and/or guarantees and line of credit guarantees for small or mid-sized business or not-for-profit organizations in operation in NJ for at least two years. Can be used for fixed assets, refinancing of debt or working capital.

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