Tennessee Economic Development Incentive Programs Governor's office | State Incentives | State Profile | Case Studies
TAX CREDITS
Job Tax Credits: Companies who make minimum of $500,000 in capital investment in a headquarters facility and create 25 net new full-time jobs are eligible to receive tax credits (up to $4,500 per new job) to offset up to 50% of the combined franchise and excise tax. Companies who make a capital investment of $100 million and create more then 100 net new full-time jobs are eligible for the Super Job Tax Credit which provides tax credits (up to $5,000 per new job) to offset up to 100% of taxpayer’s Tennessee franchise and excise tax liability annually.
Qualified Headquarters Facility Relocation Expense Credit: A credit is available against a taxpayer‘s franchise and excise tax liability to companies creating at least 100 new jobs. The level of the tax credit is based on qualified relocation expenses incurred by the company in establishing a qualified headquarters facility.
UTILITY DISCOUNT
TVA Enhanced Growth Credit: Substantial credits on power bills may be available to companies expanding in the Tennessee Valley.
TRAINING PROGRAMS
Employee Training Programs: The state offers various training programs available to businesses relocating or expanding in the state; reimbursement of up to 100% may occur.
LOCAL INCENTIVES
Payment in Lieu of Tax (PILOT): Projects involving a large capital investment and large numbers of new jobs may qualify for a property tax freeze or reduction (in lieu of tax agreement).
TAX EXEMPTIONS
Sales Tax Exemptions: Available on industrial machinery, energy, fuel and water used in a manufacturing; material handling equipment and racking equipment for distribution companies investing a minimum of $10 million. Credits are also available (up to 5.5%) on building materials, equipment, and machinery for headquarters projects with more than $20 million in construction investment.
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