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:
Arkansas offers several types of job creation incentives, including income tax credits, cash rebates, and infrastructure grants.
Arkansas’ investment incentive, Tax Back, is a sales and use tax refund for the purchase of building materials, machinery, and equipment.
Arkansas offers a variety of tax exemptions and reductions. These include exemptions for purchasing equipment, providing childcare and tuition reimbursement, and rehabilitating properties.
This discretionary incentive is targeted toward new, technology-based businesses paying wages in excess of the state or county average wage.
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.
At the discretion of the AEDC Executive Director, businesses may be offered incentives designed to help knowledge-based, start-up businesses.
The AEDC Rule Book summarizes the incentive programs available to companies looking to expand or relocate in Arkansas.
Bentley Story
Director - Business Development
Arkansas Economic Development Commission
501-682-7384
bstory@arkansasedc.com
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