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Why El Dorado?

Incentives

 

 

El Dorado, Arkansas

Union County, Arkansas

 

The Communities INCENTIVES are outlined below:

 

Act 9 Bond Issue (Property Tax Abatement) by Union County Quorum Court

The Community will develop and adopt an Act 9 Bond Issue to assist the Company

in financing the project.  The Act 9 Bond Issue will be to address property tax abatement.    

The local millage rate for the proposed location is 40.5 mills.   For example, if the

company invested $445 million, normal property taxes associated with the project are

estimated at $ $336,100 per year. The Act 9 Bond Issue would reduce that amount

to $117,635 per year.    Assuming the Bond term is 20 years, the total benefit to the

prospect would be $2,352,700.

 

Assistance with Community Relations

The El Dorado-Union County Chamber of Commerce will work very closely with the

Prospect in developing and managing a positive relationship with local citizens.  

The Chamber of Commerce has a very good working relationship with the media

and local elected officials throughout the area.  The positive impact of the project

on the community will bring strong support from all sectors of the region.

 

Contact:

Brandon Barnette

Economic Development Project Manager

El Dorado-Union County Chamber of Commerce

(870) 863-6113 office

brandon@goeldorado.com

 


 

State of Arkansas 

All counties and communities 

 

The State INCENTIVES are outlined below:

 

Job Creation Incentives

Arkansas offers several types of job creation incentives, including income tax credits, cash rebates, and infrastructure grants.

 

Investment Incentives

Arkansas’ investment incentive, Tax Back, is a sales and use tax refund for the purchase of building materials, machinery, and equipment.

 

Exemptions / Reductions

Arkansas offers a variety of tax exemptions and reductions. These include exemptions for purchasing equipment, providing childcare and tuition reimbursement, and rehabilitating properties.

 

Equity Investment Tax Credit 

This discretionary incentive is targeted toward new, technology-based businesses paying wages in excess of the state or county average wage.

 

Specialized Incentives 

Arkansas can provide specific incentives for industries that meet expenditure requirements, including the film and motion picture industry.

 

Research & Development Incentives 

Arkansas’s Research & Development incentive programs are intended to provide incentives for university-based research, in-house research, and research & development in start-up, technology-based enterprises.

 

Community Development Block Grant 

The Community Development Block Grant (CDBG) program benefits low- and moderate-income persons and addresses other urgent community development needs.

 

Targeted Business Incentives 

At the discretion of the AEDC Executive Director, businesses may be offered incentives designed to help knowledge-based, start-up businesses.

 

AEDC Rule Book (PDF)

The AEDC Rule Book summarizes the incentive programs available to companies looking to expand or relocate in Arkansas.

 

Contact:

Bentley Story

Director - Business Development

Arkansas Economic Development Commission

501-682-7384

bstory@arkansasedc.com


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