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Available Incentives

Available Incentives

Local Incentives

Local incentives can be discussed prior to action by a government entity but they should not be considered a commitment until the entity takes formal action on the incentive agreement. Typically this requires the approval of the EDC Board and the approval of the City Council. In all cases the company will be required to commit to specific investment levels, a specific time frame in which to make that investment, a minimum estimate of the number of employees that will work in the company on the site within specific time frames and the levels of compensation that will be paid to those employees.

Typically all incentives can be confirmed within thirty days or less of the completion of application.

State Incentives

Generally the EDC cannot pledge a state incentive. Our policy is to make the prospective primary employer aware of those incentives which the company may qualify for and to partner with the company in seeking those incentives. When necessary, the EDC can employ professional program specialist to prepare applications.

These state incentives will in almost all cases require a specific pledge or employer commitment. These will generally be made in terms of employment, salaries or payroll total and investment in plant and equipment. In almost all cases the company must provide financial and ownership data.

The EDC Staff can assist the company in the identification of those programs which the project will qualify for. The EDC will also aggressively lobby for approval.

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