Business Tax Credits
The State of Tennessee offers a variety of tax credits to existing, expanding and relocating businesses that are among the most competitive in the country. Highlighted programs include:
- Job Tax Credit which offsets franchise and excise taxes for qualified business enterprises creating as few as 25 jobs and investing a minimum of $500,000.
- Tiered Rural Opportunity Initiative Jobs Tax Credit was created to promote new industry locations and expansions in more rural areas of the state.
- Jobs Tax Super Credit which offsets F&E tax liability for companies making capital investments in excess of $100 million and creating 100 or more jobs.
- Integrated Supplier and Integrated Customer Tax Credit which extends some tax credits to suppliers and customers for large enterprises.
- Industrial Machinery Tax Credit which offers qualified businesses credits for capital investments in industrial machinery.
- Headquarters Tax Credit is designed to encourage regional, national and international corporations to locate headquarters operations within the Tennessee.
- Emerging Industry Credits for companies creating at least 50 jobs and making a $100 million dollar investment in high-tech and clean energy technology.
- Data Center Tax Credit for investments exceeding $250 million and creating 25 new jobs.
A comprehensive listing and detailed information about all Business Tax Credits are available at the Department of Economic and Community Development website.
Grants and Loans for Businesses
Grant and loan programs offered by the state can help industries and communities develop the infrastructure and workforce needed to attract and retain the highest quality jobs.
- FastTrack Infrastructure Development Program assists communities in improving public infrastructure as part of project specific efforts that create new jobs and spur business investment.
- FastTrack Job Training Assistance Program is an incentive available to new and expanding industry for use in training and development of training programs.
- Energy Efficiency Loan Programs encourage businesses of all sizes to pursue energy-saving projects that will be both environmentally responsible and cost-effective in the long term.
- Green Island Biofuel Corridor Infrastructure Grant assists fuel retailers and coops in locating E85 and B20 pumps across the state.
- Rural Small Business and Entrepreneurship Loan Fund helps small businesses, specifically micro-businesses or micro-enterprises grow and maintain their businesses.
- Tennessee Job Skills is a discretionary fund available to new and existing businesses to train their workforce. The focus is on employers and industries that promote high-skill, high-wage jobs for emerging and high-technology manufacturing operations.
- Private Activity Bonds are available to help companies finance building and equipment improvements.
A comprehensive listing and detailed information about all Grants and Loans for Businesses are available at the Department of Economic and Community Development website.