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21
Fortune 1000 companies in the region |
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PUBLIC INFRASTRUCTURE FINANCING Brownfield Program – Provides financial incentives for the redevelopment of commercial/industrial sites that are contaminated with hazardous substances and have been abandoned or underutilized for at least three years. Industrial Development Bond – Facilitate the financing of business projects. Cities or counties may purchase or construct certain types of projects with bond proceeds and lease or sell the project to a company. Costs that may be eligible costs are the purchase, construction, extension and improvement of warehouses, distribution facilities, and industrial plants. Industrial Infrastructure Grant – Assists local governments in the development of public infrastructure that allows industries to locate new facilities, expand existing facilities, or prevent the relocation or closing of a facility. Grants must be made in cooperation with a city or county sponsor in a "non-entitlement" area where the project will be located. Non-entitlement areas are classified as cities with populations less than 50,000 and/or counties with populations under 200,000. For-profit manufacturing, processing and assembly companies are prioritized. Tax Credit for Contribution Program – Grants a tax credit equal to 50% of any moneys contributed by any taxpayer. The Contribution must be made to one of three "funds" established by the Board's statutes: the "industrial development and reserve fund," the "infrastructure development fund," or the "export finance fund." Contributions to the "industrial development guarantee fund" are not eligible to receive a credit. Tax Increment Financing (TIF) – Facilitates the redevelopment of blighted areas by providing essential public infrastructure. |
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