HI Statewide Economic Development Agencies

HI Utilities

HI Regional Economic Development Agencies

HI County Economic Development Agencies

HI City Economic Development Agencies

Hawaii State Incentives

HAWAII SMALL BUSINESS INNOVATION RESEARCH PROGRAM (SBIR): A $2.2 billion three-phased Federal program that provides small businesses the opportunity to win federal R&D awards. Hawaii-based companies that receive Phase I feasibility study SBIR awards can apply for funds from HTDC’s Hawaii SBIR Matching Grant program. The matching grants provide up to $25,000 to assist companies with enhancing their Phase I project development, compete for the more lucrative Phase II awards to typically conduct prototype development, and ultimately reach successful commercialization.

MOTION PICTURE, DIGITAL MEDIA & FILM PRODUCTON INCOME TAX CREDIT: A refundable tax credit based on a production company’s Hawaii expenditures while producing a qualified film, television, commercial or digital media project. The credit equals 15 percent of qualified production costs incurred on Oahu, and 20 percent on the neighbor islands (Big Island, Kauai, Lanai, Maui, Molokai).

ROYALTIES TAX EXEMPTION: Royalties derived from performing arts products are excluded from a Hawaii taxpayer’s income and not subject to state income tax.

HAWAII ENTERPRISE ZONES PARTNERSHIP: A joint state-county effort intended to stimulate—via tax and other incentives—certain types of business activity, job preservation and job creation in areas where they are most appropriate or most needed. Up to six zones can be designated per county. If a business (or a branch of business) is eligible and is located in an Enterprise Zone (EZ), it can reduce its state taxes and receive other county benefits for up to seven years by satisfying the EZ hiring and gross receipts requirements.

HIGH TECHNOLOGY DEVELOPMENT CORPORATION MANUFACTURING EXTENSION PARTNERSHIP (HTDC-MEP): A federal program administered in Hawaii by the State’s High Technology Development Corporation and designed to bring best practices to small and medium-sized businesses at an affordable cost. Almost every business in Hawaii that develops products can take advantage of the services. It serves all industries and all companies who are willing to invest time, money and people to improve business. HTDC-MEP acts as a general practitioner in providing a wealth of knowledge and meeting various industry-specific needs. It can help increase profitability & competitiveness in the following business areas:

• Reduce costs & lead-times while improving your quality, productivity, capacity and profits.
• Process design and improvements
• Lean Manufacturing
• Plant Layout
• Value Stream Mapping
• Business Planning
• Strategic Planning
• Marketing Research and Planning
• Product development
• Supply chain management
• E-commerce and web development
• Quality control issues
• Business operations and management coaching
• Training (Lean, Value Stream Mapping, TQM, etc.)

HAWAII STRATEGIC DEVELOPMENT CORPORATION (HSDC): An agency of Hawaii established in 1990 to promote technology based economic development and economic diversification in the state through a return driven investment program in partnership with private capital. HSDC has adopted an indirect investment policy whereby it seeks to invest in venture capital partnerships that in turn will make direct investments into Hawaii-based companies. The general partners of the venture capital partnerships, or fund managers, are private sector investors who pool funds from a number of investors, identify and invest in promising businesses, and manage the investments until an exit from the investment is achieved. In this manner, HSDC is able to leverage public funds with private capital and utilize the investment acumen of the private sector in selecting suitable investments. HSDC seeks to invest in fund managers with experience in venture capital investing and that have a commitment to build a portfolio of Hawaii-based investments. Emphasis is given to investment opportunities that further technological innovation in Hawaii. HSDC is currently precluded by law from investing in retail businesses, housing construction and the tourism sector.

PRIORITY PERMIT PROCESSING FOR GREE BUILDINGS: Hawaii requires priority processing for all construction or development permits for projects that achieve LEED Silver or equivalent.

ALTERNATIVE ENERGY LOANS: Act 209 was enacted in 2008 to establish a new loan program to help full-time farmers, ranchers and aquaculturalists to reduce dependence on fossil fuel by producing renewable energy through sources such as photovoltaic, hydroelectric, wind, methane, biodiesel and ethanol. The act also allows for loans for food safety projects to ensure a safe food supply for Hawaii’s people. The maximum loan amount is $1,500,000 or 85 percent of the project cost (whichever is less). Funds can be used for infrastructure, equipment, land improvement and operating costs associated with the project. The program offers favorable interest rates with a maximum loan term of 40 years.

SOLAR AND WIND ENERGY CREDIT: Originally enacted in 1976, it allows individuals or corporations to claim an income tax credit of 20 percent of the cost of equipment and installation of a wind system and 35 percent of the cost of equipment and installation of a solar thermal or photovoltaic (PV) system. For solar thermal energy systems, a commercial property is eligible for a maximum credit of 35 percent of the actual cost or $250,000, whichever is less; for photovoltaic systems, the maximum allowable credit is 35 percent of the actual cost or $500,000, whichever is less; and for wind powered energy systems the maximum allowable credits is 20 percent of the actual cost or $500,000, whichever is less.

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NV Statewide Economic Development Agencies

NV Utilities

NV Regional Economic Development Agencies

NV County Economic Development Agencies

NV City Economic Development Agencies

Nevada State Incentives

CATALIST FUND: Nevada recently authorized the use of $10 million in general fund money to spur economic development through corporate expansions and relocations in Nevada. Working in connection with local governments, companies can apply to the state with an eligible economic development project for an allocation from the fund. Since this is a new program, the rules and regulations are currently in development and are expected be in place by January 1, 2012.

A SALES AND USE TAX ABATEMENT on eligible machinery and equipment is available to businesses with operations consistent with Nevada’s state plan for economic diversification and development. Qualifying criteria include a commitment to doing business in Nevada, minimum job creation, capital investment, employee heath plans, and wage requirements.

SALES TAX DEFERRAL: The state of Nevada offers a sales & use tax deferment program to qualified industries that purchase capital equipment in excess of $100,000. Taxes can be deferred interest free for up to five years.

An abatement of PERSONAL PROPERTY TAX is available to businesses with operations consistent with Nevada’s state plan for economic diversification and development. Qualifying criteria include a commitment to doing business in Nevada, minimum job creation, employee health plans, minimum capital investment, and wage requirements. Taxes may be abated for up to 50 percent for up to ten years.

RENEWABLE AND ENERGY STORAGE ABATEMENTS are available for companies involved in the production of energy from renewable sources such as wind, solar, and others, or a facility for the production of an energy storage device. The package of abatements includes sales/use tax and real and personal property tax.

MODIFIED BUSINESS (PAYROLL) TAX ABATEMENTS provide partial abatement from the payroll tax for new and expanding businesses. Statutory requirements, which must be met to qualify, include a minimum number of jobs created, a minimum capital investment, and wage and employee health plan requirements. Taxes may be abated by 50 percent for four years.

TRAIN EMPLOYEES NOW (TEN): Nevada offers a customized job training program to qualified businesses that meet established criteria. This program may be used prior to a plant opening and up to 90 days following.

Nevada is authorized to use tax-exempt INDUSTRIAL DEVELOPMENT BONDS (IDBs) to provide low-interest financing of new construction, improvements, rehabilitation, or redevelopment of qualified projects, which include manufacturing facilities and certain other projects organized under Section 501 of the Internal Revenue Service code.

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OR Statewide Economic Development Agencies

OR Utilities

OR Regional Economic Development Agencies

OR County Economic Development Agencies

OR City Economic Development Agencies

Oregon State Incentives

The OREGON BUSINESS EXPANSION AND RETENTION PROGRAM is a new tool that creates a state incentive available to existing companies expanding operations in Oregon or new companies coming in to the state. The program helps innovative, knowledge-based industry companies create more high-paying jobs in Oregon by helping to offset a company’s expansion costs with forgivable loans based on the anticipated increase in income tax revenue due the state from the new jobs created. The program is capitalized with Lottery Funds (up to $4 million for 2011-13 biennium). To be eligible, the company must plan to hire 50+ new employees in Oregon; have 150 or more employees at time of eligibility; have employee wages are 150 percent above state average or county average, whichever is less; and must be in a traded-sector industry (excludes retail businesses);

INDUSTRIAL DEVELOPMENT PROJECTS OF STATE SIGNIFICANCE: This new program sets up a process for identifying up to ten “regionally significant” industrial areas per biennium to further job creation. It also establishes an expedited review process and narrows the grounds for appeal. The intention is to protect those industrial lands with the potential for future economic development and job growth from conversion to residential or commercial zoning.

The MANUFACTURING BUSINESS ENERGY TAX CREDIT (BETC) (HB 2523) moves to Business Oregon in 2012. The manufacturing credit has been instrumental in growing Oregon’s expanding renewable energy industry. Oregon facilities that manufacture renewable energy resource equipment may be eligible for the credit, which has proven extremely valuable to offset the costs of large capital investments. Eligible costs may include the building, equipment and machinery and other costs used to manufacture equipment, machinery or products designed exclusively to use a renewable energy resource. The facilities are eligible for a tax credit of 50 percent of eligible costs, up to a maximum of $40 million in eligible costs for each phase of development. HB3672 extended the sunset dates to 2018 for a number of important incentive programs and tax credits that support a range of business development activities across the state. These extensions include: the state’s Research & Development Credit, Long-term Rural Enterprise Zones, Electronic-Commerce Zones, the Film and Video Credit, and Biomass credits. In addition, the Oregon Investment Advantage program was extended to July 1, 2016 for rural and distressed Oregon counties seeking to recruit traded sector company development. More info on these programs can be found here.

OREGON BUSINESS DEVELOPMENT FUND (OBDF): A revolving loan fund that provides term fixed-rate financing for land, buildings, equipment, machinery and permanent working capital. Participants must create or retain jobs and must typically be a traded-sector business 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. Loans have a maximum amount of $700,000; a maximum term and amortization of 20 years or the useful life of the project and/or collateral; a fixed interest rate of U.S. treasury Bills plus 1 percent APR (4 percent minimum APR); and a 1.5 percent loan origination fee.

OREGON CAPITAL ACCESS PROGRAM (CAP): Helps lenders (banks and credit unions) make more commercial loans to small businesses and provides capital for start-up or expansion. It is designed for non-profit and for-profit businesses seeking funds for most business purposes. All types of loans and lines of credit are eligible. Lenders build a loan-loss reserve each time they enroll a loan. Contributions to the loan-loss reserve account are matched by Oregon Capital Access Program. CAP loans have enrollment fees between 3 percent and 7 percent as determined by the financial institution; will receive a match on the enrollment fee of up to $35,000 per borrower; and have rates and terms for repayment determined by the lender.

OREGON CREDIT ENHANCEMENT FUND (CEF): A loan insurance program available to lenders to assist businesses in obtaining access to capital. The fund guarantees loans made by lenders providing working capital or fixed-asset loans to businesses. The program is available for traded-sector manufacturing, production, processing and distribution companies; can assist most business located in a designated distressed area; can assist businesses that are using proceeds to clean up a brownfield site; can include loans used for fixed assets, working capital or export financing; can insure term loans and lines of credit and; has an enrollment fee typically between 1.25 percent and 3.0 percent of the insured amount based on the term of the credit facility.

Loan guarantees are typically up to 80 percent of the loan amount, up to $2,000,000 exposure for term loans.

OREGON INDUSTRIAL DEVELOPMENT BONDS: Tax-exempt bonds issued by the state of Oregon, designed to help Oregon manufacturers grow. They finance job creation and business growth for Oregon traded-sector, value-added manufacturers and processors by providing long-term debt financing for land, buildings and other fixed assets at a rate below prime. Affordable interest rates and tax-exempt status assist in lowering capital expenses. The bonds generally provide the greatest benefit to the borrower for bonds of $5 million or more.

OREGON EXPRESS BOND PROGRAM: Uses much less paperwork and highly standardized documents to save borrowers time and money during the tax-exempt bond borrowing process. Business Oregon has selected a bond counsel firm with a pre-approved fee schedule. Express Bonds are placed with the borrower’s bank and may be feasible for financing smaller projects, particularly within the $500,000 to $5 million cost range.

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. Loans are a maximum amount of $50,000 with a maximum term and amortization of 5 years and a fixed interest rate of Prime plus 2 percent APR. Participants must meet one, or both, of the following criteria:

• have revenues of less than $500,000 in the previous 12 months or
• be a business owned by a severely disabled person.

BROWNFIELDS REDEVELOPMENT FUND: A Brownfield is property where expansion or redevelopment is complicated by actual or perceived environmental contamination. Oregon’s Brownfields Program is available to provide financing for the full range of environmental activities—assessment through cleanup—associated with Brownfields redevelopment. The department works with the OR Department of Environmental Quality to ensure that a project’s scope of work will achieve environmental compliance and meet the needs of the redevelopment project.

The BUILDING OPPORTUNITIES FOR OREGON SMALL BUSINESS TODAY (BOOST) FUND offers two independent resources, direct loans and grants, to small business owners in Oregon.

• The BOOST LOAN PROGRAM is a revolving loan fund that provides term fixed-rate financing for small businesses in need of operating capital. Loan proceeds may be used to support daily operations (i.e., rent or mortgage payments, utilities, marketing expenses, employee expenses, accounts receivable/payable, small equipment purchases, etc). Participants must be a small business with 100 or fewer employees and must be a traded-sector business in manufacturing, processing or distribution. A BOOST loan applicant will need to demonstrate a reasonable capacity to create or retain jobs, provide adequate collateral for the loan and demonstrate a reasonable prospect of repayment.
• The BOOST GRANT PROGRAM will award and make grants as an incentive to Oregon businesses that create new, full-time jobs in Oregon. Applicants must be businesses with 100 or fewer employees, must create and retain new full-time jobs for a period of at least 6 months, must be a traded-sector business in manufacturing, processing or distribution, and must demonstrate that comparable wages are provided to their employees. Up to $2,500 may be awarded to an applicant for each full time job created and retained with an annual maximum of $50,000 per applicant in a calendar year.

TAX INCENTIVES

Oregon offers globally competitive tax incentives to help encourage businesses to locate in Oregon, and existing Oregon businesses to grow and prosper.

• ENTERPRISE ZONES (EZs): In exchange for locating or expanding in an enterprise zone, businesses receive exemption from local property taxes on new plant and equipment for at least three years (but up to five years) in the standard program. In addition, some zones can offer special incentives for investments in long-term rural facilities or electronic commerce operations.

• The OREGON INVESTMENT ADVANTAGE: This income tax exemption program helps businesses start or locate in a number of Oregon counties by providing a multi-year deduction for all income-based taxes related to the new business operations, potentially eliminating state business tax liability during that multi-year period.

• STRATEGIC INVESTMENT PROGRAM: Exempts a portion of very large capital investments from property taxes. The program is available statewide.

• RESEARCH TAX CREDITS: Corporate tax credit for qualified research and basic research conducted in Oregon, as a state-level extension of federal R&D tax credits.

• CONSTRUCTION-IN-PROCESS: With timely filing for each of up to two years, unfinished improvements to a business facility may be exempt from local property taxes statewide. (In an EZ, most authorized business firms can receive essentially the same but somewhat broader tax abatement using another form.)

• EMPLOYER-PROVIDED DEPENDENT CARE TAX CREDIT: A 50 percent credit for the annual cost of assisting employees with childcare and similar needs.

• FILM & VIDEO INCENTIVES: Oregon offers a host of incentive programs for film and video productions taking place in the state. Incentive programs rebate:

o 20 percent of the production’s Oregon-based goods and services
o An additional cash payment of up to 16.2 percent of wages paid to production personnel

Unlike other states’ programs, these incentives are cash rebates as opposed to tax credits. This simplifies and speeds up the rebate process.

RENEWABLE ENERGY INCENTIVES

• BUSINESS ENERGY TAX CREDIT: Offered by Business Oregon to companies that invest in renewable energy-related manufacturing.

• RURAL RENEWABLE ENERGY DEVELOPMENT ZONES: A three to five year exemption from property taxes on new investments in wind energy farms, biofuel production and other eligible projects in a designated county.

• STATE ENERGY LOAN PROGRAM (SELP): For renewable energy, including manufacturing facilities. Loans have been as short as 10 years and as long as 30 years, depending on the borrower’s need and financial situation, and have been as large as $20 million. The Oregon Department of Energy finances these low-interest loans through the issuance of state general obligation bonds.

A complete list of incentives and business climate information can be found at www.Oregon4biz.com/The-Oregon-Advantage/

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WA Statewide Economic Development Agencies

WA Utilities

WA Regional Economic Development Agencies

WA County Economic Development Agencies

WA City Economic Development Agencies

Washington State Incentives

COMMUNITY EMPOWERMENT ZONE PROGRAM(CEZ): a competitive program intended to spur neighborhood revitalization and reinvestment. To receive state CEZ designation, the six eligible jurisdictions identified targeted neighborhoods, undertook a planning and public involvement process, and adopted a five-year plan to guide resource investments. The CEZ designation enables qualified businesses to apply to the Washington State Department of Revenue for sales tax deferrals and business and occupation tax credits for a variety of projects. The statutory authority for the CEZ program is found in Chapter 43.31C of the Revised Code of Washington (RCW).

SALES AND USE TAX EXEMPTION for Manufacturing Machinery & Equipment (m&E): Available to manufacturers and processors for hire performing manufacturing and R&D. Testing operation for a manufacturer and processor for hire. To qualify, the manufacturer must purchase qualifying machinery and equipment used directly in a manufacturing operation or research and development performed by a manufacturer, or testing operations performed for a manufacturer.

Rural County/Community Empowerment Zone (CEZ) Incentives:

• Purchases of Server Equipment and Power Infrastructure for use in Eligible Data Centers – Sales/Use Tax Exemption: Available to the owner of an eligible data center with a combined square footage of at least 100,000 square feet and lessees of at least 20,000 square feet within an eligible data center located in a rural county.
• B&O Credit for New Employees in Manufacturing and Research & Development in Rural Counties: Available to manufacturers, R&D laboratories, and commercial testing facilities located in rural counties or within a CEZ. To qualify, the company must create new employment positions/increase instate employment by 15 percent. In turn, this incentive gives a $2,000 credit/position with annual wages/benefits of $40,000 or less; or a $4,000 credit/position with wages/benefits of more than $40,000 annually.

HIGH TECHNOLOGY B&O CREDIT for R&D Spending: Available to businesses conducting research and development (R&D) in Washington State in the research and development fields of advanced computing, advanced materials, biotechnology, electronic device technology and environmental technology.

RENEWABLE ENERGY/GREEN INCENTIVES:

• Solar Energy System and Components of Solar Energy Systems Manufacturers – Reduced B&O Tax Rate available to manufacturers, manufacturers that sell their product at wholesale, and processors for hire of solar energy systems and specified components of solar energy systems using photovoltaic modules or stirling converters.
• Machinery & Equipment Used to Generate Electricity Using Renewable Energy – Sales/Use Tax Exemption available to anyone that generates electricity using fuel cells, sun, wind, biomass energy, tidal and wave energy, geothermal resources, anaerobic digestion, technology that converts otherwise lost energy from exhaust, or landfill gas. The refund program expires July 1, 2013.
• Energy Production Using Solar, Methane, & Wind Power – Cost Recovery Program available to individuals, businesses, local government entities that are not in the light and power business or gas distribution business, and participants in a community solar project.

REDUCED B&O TAX RATE FOR AEROSPACE BUSINESSES: This incentive is available to manufacturers and processors for hire of commercial airplanes or component parts of commercial airplanes, non-manufacturers engaged in the business of aerospace product development, certificated FAR repair stations making retail sales, and aerospace tooling manufacturers.

For more detailed information about these and additional incentives, visit: www.choosewashington.com/business/incentives

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AK Statewide Economic Development Agencies

AK Utilities

AK Regional Economic Development Agencies

AK County Economic Development Agencies

AK City Economic Development Agencies

Alaska State Incentives

RURAL DEVELOPMENT INITIATIVE FUND: Provides private sector employment by financing the start-up and expansion of businesses that will create significant long-term employment.

• Loans may be made to a business located in a community with a population of 5,000 or less that is not connected by road or rail to Anchorage or Fairbanks, or with a population of 2,000 or less that is connected by road or rail to Anchorage or Fairbanks.
• Loans may be made for working capital, equipment, construction or other commercial purposes.
• Loans may not be made to pay costs that were incurred more than 6 months before loan application.
• Loans must result in the creation of new jobs or the retention of existing jobs in the eligible community.

SMALL BUSINESS ECONOMIC DEVELOPMENT (SBED): Provides private sector employment by financing the start-up and expansion of businesses that will create significant long-term employment. 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. 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.

ALASKA FILM PRODUCTION INCENTIVE PROGRAM: Applicants can qualify for up to 44 percent in a transferable tax credit on qualified production expenditures in Alaska. Eligible projects are broadly defined as film, documentary, commercial and video productions requiring a minimum of $100,000 of qualified expenditures in Alaska.

OIL AND GAS EXPLORATION TAX CREDITS: Allow for a production tax credit for certain exploration geophysical survey and drilling activities as an alternative to the QCE credits under AS 43.55.023. Provisions for exploration drilling credits under this statute are different for areas inside of and outside of the Cook Inlet sedimentary basin.

MINERALS EXPLORATION TAX CREDITS: Taxpayers may take a credit for 100% of eligible costs of exploration activities related to determining existence, location, extent or quality of a locatable mineral or coal deposit. The incentive may not exceed $20 million and must be applied within 15 tax years after the taking of the credit is approved. Application of the credit is limited to 50 percent of the lesser of the taxpayer’s mining license tax liability or 50 percent of the taxpayer’s total corporation net income tax liability.

The COMMERCIAL FISHING AND AGRICULTURE BANK provides loans to fishing, tourism, natural resources and agriculture-based projects. The Division of Investments provides loans to fishing enterprises and other small business ventures.

ALASKA GROWTH CAPITAL: Provides financing to nontraditional borrowers/businesses that use innovative technology, are in rural Alaska and are minority-owned.

COMMERCIAL FISHING LOAN FUND: Provides long-term, low interest loans to promote the development of predominantly resident fisheries, and continued maintenance of commercial fishing vessels and gear for the purpose of improving the quality of Alaska seafood products. Must be an Alaska resident for the past 2 years, child support payments must not be past due and must provide a copy of each applicant’s valid government issued identification at or before loan closing.

FILM INCENTIVE PROGRAM: Provides a transferable tax credit for qualified film production expenditures as an incentive to attract large scale film production in Alaska.

•    Must spend at least $100,000 in a consecutive 24 month period.
•    30 percent transferable tax credit on qualified expenditures.
•    Claim an extra 10% for wages paid to Alaska residents.
•    Claim an extra 2% if filming in a rural area.
•    Claim an extra 2% if filming between October 1 and March 30.
•    No salary cap per employee per production.

MICRO LOAN PROGRAM FOR WOMEN ENTREPRENEURS: Provides lending opportunities to women-owned businesses which may or may not qualify for conventional funding. The loans also serve as an opportunity for women to establish credit for their businesses. Women entrepreneurs interested in a loan of up to $10,000 to start, develop or stabilize a viable business must:

• be a U.S. citizen
• be at least 21 years old and have no criminal record
• be 51% owner and operator of the small business
• have a solid, completed business plan for a viable enterprise
• show proof of entrepreneurship capabilities
• submit a complete loan package

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