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From the March/April 2013 issue. And now, without further ado, here are the winners of our 2013 Economic Development Awards. The city has created two Tax Increment Financing Districts with a third in process, to expand the municipal infrastructure to industrial and commercial zones. By Business Facilities Staff.
Business Facilities magazine has announced the winners of its 2013 Economic Development Deal of the Year competition. billion project that has earned BF’s 2013 Economic Development Deal of the Year Gold Award. . .” In 2007, the statewide economic impact from film was estimated at $242 million; by 2013 this had grown to $3.5
billion project that has earned our 2013 Economic Development Deal of the Year Gold Award. Mesa Mayor Scott Smith, City Manager Chris Brady and Economic Development Director Bill Jabjiniak assisted Apple with its Foreign Trade Zone application to provide real and personal property tax relief for Apple’s investment in the Mesa site.
With his signature on the Economic Opportunity Act of 2013, Gov. It places extra emphasis on spurring development and private-sector job growth in new Garden State Growth Zones (GSGZ) identified in the legislation as the four lowest median family income cities in the state: Camden, Trenton, Passaic and Paterson. Laurel, NJ.
From the July/August 2013 issue. According to the Florida & Metro Forecast 2013–2016 , published in April by the Institute for Economic Competitiveness (College of Business Administration, University of Central Florida), Florida’s economic future also looks bright. percent in 2013, 2.5 percent during 2013 to 2016.
From the September/October 2013 issue. California is considered by critics as one of the hardest states in which to grow a business, given its high individual and corporate income tax rates, high sales tax, and conflicting regulations. The San Diego Enterprise Zone, which ended Dec. Long Beach Community College.
From the May/June 2013 issue. percent growth supported by its robust export industry, and it is on track to meet its 5 percent target for 2013. The BOI has divided Thailand into three zones each with a different incentive package to accelerate development in disadvantaged regions. percent as of February 2013].
Business Development Tax Credit: Provides refundable income tax credits that can be earned based on jobs, capital investment, training and the location or retention of corporate headquarters. Historic Preservation Tax Credit: State income tax credit for 20% of the qualified rehabilitation expenditures for eligible buildings.
From the January/February 2013 issue. After swallowing that gloomy news, Californians trudged to the polls in November and approved a referendum increasing their state income taxes by a whopping $6 billion a year. BARSTOW: ONWARD AND UPWARD IN 2013. The City of Barstow believes there is much to be optimistic about in 2013.
Having witnessed income and social class inequities entrenched by corruption on their European mission, and a system in which government officials and business entrepreneurs rarely collaborate to solve civic and social problems, the Ivorys recognized the seeds of similar dynamics in their own backyard. See past Builder of the Year winners.
The program transforms State University of New York (SUNY) campuses, private colleges and universities, and university communities across the state into tax-free zones for new and expanding businesses. ?Business Just next door to Long Island MacArthur Airport is Foreign Trade Zone (FTZ) #52. In 2013, AA Technology Inc.,
Conduct a cost/benefit analysis of the defined land use typologies to identify less vulnerable zones for long-term planning and public spending. Allow partial compliance and mitigation measures in order to create flexibility in insurance premiums for low-income households and small businesses.
Foreign Trade Zones (FTZ): Neutral, secured areas legally outside of the U.S. On July 23, 2013, Governor Pat McCrory signed new tax reform legislation into law. Income tax rates for all taxpayers will be lowered to a uniform rate of 5.8% The corporate income tax will be reduced to 6% in 2014 and 5% in 2015.
Businesses will be able to locate in these zones and operate 100 percent tax-free for 10 years (no income, business, sales or property taxes and no franchise fees). In 2007, the statewide economic impact from film was estimated at $242 million; by 2013, this had grown to $3.5 WyoRECs™ Renewable Energy Credit Discount Program.
From the September/October 2013 issue. Another popular economic development incentive offered by the state is the Texas Enterprise Zone Program, which enables local communities to partner with the State of Texas to promote job creation and significant private investment, helping assist economically distressed areas of the state.
Agriculture Partnership in Assisting Community Expansion (Ag PACE): This program has been established to buy down the interest rate on loans to farmers who are investing in other nontraditional agriculture activities to supplement farm income. The total buy down amount per borrower may not exceed $20,000 per project or biennium.
Oklahoma Local Development & Enterprise Zone Incentive Leverage Act (62 O.S. § 840): Provides funding for local units of government to match local tax revenue dedicated to support a project located in an enterprise zone, in support of a major tourism destination or in support of a military growth impact. 632): The U.S.
Agriculture Partnership in Assisting Community Expansion (Ag PACE): This program has been established to buy down the interest rate on loans to farmers who are investing in other nontraditional agriculture activities to supplement farm income. The total buy down amount per borrower may not exceed $20,000 per project or biennium.
From the January/February 2013 issue. Effective Tax Year 2013, certain Kansas businesses will enjoy significant tax relief. Foreign Trade Zones that are “user friendly” site-specific and allocated on an individual company basis. By Shana Daley. Kansas offers a diverse economy perfect for your business.
Washington dodged a huge bullet at the end of 2013 when it persuaded Boeing (with nearly $8 billion in tax credits) to renew its commitment to the keep manufacturing in the state. The industrial park is zoned for heavy industry. Oysters, shrimp and crab are among the primary income producers, but shellfish are only part of the story.
Foreign Trade Zones: U.S. Customs Duty Management Program where manufacturers and distributors located in Foreign Trade Zones—since for Customs purposes, are considered to reside outside the U.S.—benefit At least 51% of the new jobs must be made available to low and moderate-income persons. 68 O.S. §§ 1359, 1359.2
Construction of wind turbines set a record in 4Q 2013 with 10,900 megawatts of capacity being added; nationwide, nearly 50,000 turbines have been installed. Early estimates for 2013 production project that output in PA topped 3 trillion cubic feet last year. In November 2013, MidAmerican Energy Co. The project is part of a $1.9-billion
According to the Illinois Government News Network (IGNN), “In 2013, 3,000 families purchased homes through one of IHDA’s programs, generating 1,500 jobs and infusing $70 million into Illinois’ economy. were named to the 2013 “Inc. Existing Foreign Trade Zone and U.S. percent in 2013, down from 7.7 Quinn said.
From the January/February 2013 issue. billion in personal income. Key Incentives: Enterprise Zones, Rural Fast Track Program, ED Tax Increment Financing, Motion Picture Incentives, Private Activity Bond. Rendering of new Boeing facility in West Jordan, UT. By Jonathan Sanders. percent from 2001 to 2010, which included a 9.2
The Port of Little Rock, on the Arkansas River is a designated Foreign Trade Zone and a United States Customs Point of Entry. This status allows goods to be stored and processed there without custom duties or bonds being paid until products are finished and sold, or moved out of zone. and Mutual of Omaha. of new office space by 2014.
From the May/June 2013 issue. Under the terms of the award, Ipreo is eligible to receive up to nine annual grants equal to 65 percent of the state personal income tax withholdings from the eligible new jobs created since the date of the initial award. ElectriCities service area. Photo: ElectriCities.). By Dominique Cantelme.
Since its inception in 2008, the program has recognized 47 active AdvantageSite locations in the state after meeting guidelines such as utility and environmental standards, size, zoning and accessibility. The company has invested an additional $6 million and created 100 new jobs in addition to the 300 already announced in June 2013.
From the March/April 2013 issue. million in funding from the New York State Housing Trust Fund/HOME and federal low income housing tax programs. Just next door to Long Island MacArthur Airport is Foreign Trade Zone (FTZ) #52. By Dominique Cantelme. The project created 15 jobs and added 29 market-rate apartments.
The Deloitte study, which is the most comprehensive look at the aerospace/defense sector, projects overall growth of about five percent this year, matching the trends recorded in 2012 and 2013. percent in 2001 to an estimated 31 percent in 2013. The industrial park is zoned for heavy industry. 30 minutes to downtown Seattle.
Funds must be used for real estate development (acquisitions, construction and/or rehabilitation) to assist a business, which commits to create and/or retain permanent jobs, primarily for low- and moderate-income persons. This program encourages business development and expansions located in non-entitlement communities.
The plant will initially create 286 production jobs when it opens in 2013. Using the IDA and Empire Zone program, $3.3 personal income, wholesale sales, and about 50 percent of its retail trade are accounted for within this radius. They aim to make Genesee County the yogurt capital not only of New York State, but of the world.
Indiana is a “Right to Work” state and, in recent years, has enacted constitutional property tax caps and reduced the state’s corporate income tax. As a designated Foreign Trade Zone (FTZ), Oswego County is designed for the convenient and cost effective production of goods. Many food processing facilities require water for processing.
Income Tax Capital Credit: The Income Tax Capital Credit has been available since 1995. Enterprise Zone Credit or Exemption: The Alabama Enterprise Zone Act (Act. The program provides state and local tax incentives and non-tax incentives to businesses and industries located within Alabama’s Enterprise Zones.
billion in corporate federal income taxes and $4.1 billion in state and local income taxes in 2014, a $1.5 Additionally, individual income taxes paid totaled $23.9 The airport is also designated as a foreign trade zone, zoned industrial and owned by the public therefore not subject to property taxes.
no personal income tax), business-driven tort reform, a variety of incentives and an overall low cost of doing business. The location on I-20, rail served by Union Pacific and Foreign Trade Zone #165 makes Midland a prime location for distribution and manufacturing. The Foreign-Trade Zone Program adds to Port Freeport’s appeal.
Cape Coral hosts diverse investment zones, commercial corridors and industrial parks suitable for a wide range of corporate and entrepreneurial pursuits. Less Taxing” since there is no state personal income tax—a key point for consideration, especially for the attraction and retention of key employees. People can also enjoy “Life.
The plant will initially create 286 production jobs when it opens in 2013. Using the IDA and Empire Zone program, $3.3 personal income, wholesale sales, and about 50 percent of its retail trade are accounted for within this radius. They aim to make Genesee County the yogurt capital not only of New York State, but of the world.
INCOME TAX CAPITAL CREDIT: Currently codified as Article 7, Chapter 18, Title 40, Code of Alabama 1975. It is a credit of five percent of the capital costs of a qualifying project, to be applied to the Alabama income tax liability or financial institution excise tax generated by the project income, each year for 20 years.
Yokohama announced in 2013 it would locate a commercial truck tire plant in West Point, MS, the company’s first in the country to be built from the ground up. The Clarksville-Montgomery County Corporate Business Park is zoned M-2 Industrial and is under full ownership of the Industrial Development Board. or call (931) 647-2331.
See Results of 2013 Renewable Energy Fund – October 22, 2013. Gross Premiums Tax Credits in Enterprise Zones: Rhode Island offers some of the most competitive ongoing tax incentives for job creation in Enterprise Zones. Small Business Administration (SBA) offers a variety of loan programs for very specific purposes.
MAHSC partners, for example, with Hitachi, which launched Hitachi’s European Big Data Laboratory in October 2013. In 2013, Panoptes, BlueSkyvaccines and TAMiRNA were founded in Vienna. In 2013, Boehringer Ingelheim had a turnover of 914.5 million euros in 2013. Therefore, the state broke a new record in 2013.
The Christie Administration will dedicate more than half of this funding for low-to-moderate-income households, in accordance with HUD guidelines. New York State also will establish the Community Reconstruction Zone (CRZ) program to facilitate community-driven planning to rebuild and revitalize severely damaged communities.
Quinn signed into a law a bill that extends the life span of enterprise zones for 25 years. The first group of the State’s enterprise zones was set to expire in 2013. Parnell signed Senate Bill 23 into law which gives a 10 year extension to Alaska’s existing film and television production incentives.
That, along with a strong economy and zero personal state income tax, make it a great place to do business. That’s well above the approximately $1 billion in aluminum-related projects announced 2001-2013. As a designated Foreign Trade Zone (FTZ), Oswego County is designed for the convenient and cost effective production of goods.
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