Additional Non-Tax Incentives

Transcription

1 Additinal Nn-Tax Incentives Revised 03/11/2013 Alabama Department f Cmmerce/Alabama Department f Revenue WORKFORCE: Right-t-Wrk State AIDT (Wrkfrce Recruitment and Training) Amng the tp wrkfrce training prgrams in the US (Expansin Management) ISO 9001:2008 certified State-f-the-art training and supprt services fr new and expanding businesses. An experienced staff, mbile training units, and in-huse design and prductin facilities at n cst t the client. Recruitment, custmized pre-emplyment training, prductin f training materials and vides fr emplyee develpment at all levels. Alabama Technlgy Netwrk (ATN) Reginal centers tailr services t meet lcal needs, prviding innvative and cst-effective slutins t enable Alabama's existing industry t be glbally cmpetitive. The netwrk is Alabama's affiliate f the Natinal Institute f Standards and Technlgy's Manufacturing Extensin Partnership, which prvides hands-n assistance and training t smaller manufacturers. Alabama E3 (Ecnmy, Energy, Envirnment) Crdinate technical assistance prgrams ffered at the federal, state and lcal levels that help cmpanies maximize their energy efficiency, reduce pllutin and greenhuse gas emissins Train emplyees in using "green" manufacturing practices. Alabama Career Center Assists the emplyers in the lcal, intrastate r interstate recruitment f applicants. Prescreens applicants t meet emplyer qualificatins.

2 Prvides interview facilities fr the emplyers. Cnducts any desired testing f ptential emplyees t measure aptitudes fr specified jb skills using validated tests. Perfrms any related service that might be needed. Wrkfrce Investment Areas Custmer-fcused system t help Alabamians access the tls they need t manage their careers thrugh infrmatin and high quality services and t help U.S. Cmpanies find skilled wrkers. The Jeffersn Cunty Cmmissin, the Mbile Cunty Cmmissin, and the Alabama Wrkfrce Investment Area (remaining 65 cunties) administer the majrity f Wrkfrce Investment Act federally funded activities cnducted within Alabama. GRANTS AND OTHER ASSISTANCE AlabamaSAVES (Sustainable and Verifiable Energy Savings) Lan Prgram Prvides 2% interest-rate lans f $250,000 t $4,000,000 t help existing industries finance energy-saving imprvements t their facilities. Lans may cver up t 90% f ttal prject csts and may allw the brrwer up t 10 years t repay. Industrial Develpment Grant Prgram (Site Preparatin) Grants t cunties, municipalities, lcal industrial develpment bards r authrities r ecnmic develpment cuncils r authrities, airprt authrities, prt authrities r public crpratins fr these purpses: Site preparatin fr land wned r pssessed by lease by these entities. Reasnable rehabilitatin f an existing building r structure, determined by the Grantee as being necessary t slicit r attract a Qualifying Prject. The size f the grant depends upn the amunt f capital investment: Capital Csts Percentage f Capital Cst Less than $200, % $200,000 t $499, % (minimum $10,000) $500,000 t $999, % (minimum $20,000) $1,000,000 t $1,999, % (minimum $28,000) $2,000,000 t $9,999, % (minimum $32,000) $10,000,000 t $24,999, % (minimum $100,000; maximum $150,000) $ 25,000,000 r greater Maximum $150,000 Industrial Access Rad and Bridge Prvide adequate public access t new r expanding distributin, manufacturing and industrial firms. Limited t cnstructin, cnstructin engineering and inspectin csts. Must be n public right f way fr public use (state, city r cunty) and the prject spnsr (city r cunty) must maintain the cmpleted facility unless

3 the facility cnsists f turn lanes, crssvers, etc., that are lcated n state highways. One-Stp Envirnmental Permitting The Alabama Department f Envirnmental Management (ADEM) has authrity t issue the permits required by all the majr federal envirnmental laws. Permit Crdinatin and Develpment Center (PCDC) facilitates the permitting prcess by crdinating cmmunicatins, cnferences and ther administrative functins between an applicant and ADEM. Industrial Revenue Bnds (IRBs) May be used as lng-term financing f up t 100 percent f a prject Acquisitin f land, buildings, site preparatin and imprvements. Cnstructin f buildings. Acquisitin and installatin f furnishings, fixtures and equipment. Capitalizable sft csts (e.g., architectural and engineering, interest incurred during cnstructin, cst assciated with bnd issuance, etc.). Plitical subdivisin issuing the IRB retains wnership f the bnd-financed facility and leases it back t the cmpany at a rate sufficient t pay the principal and interest n the bnds. Tax-exempt IRBs issued at rates lwer than cnventinal surces because the interest paid n the bnds is exempt frm bth federal and state incme tax. Ecnmic Develpment Revlving Lan Funds Fixed rate financing, at belw market rates, directly available thrugh twelve Alabama Reginal Cuncils. Alabama Imprvement Districts Frmed by cunties and municipalities public crpratins authrized t issue bnds backed by assessments n the real estate lcated within the district. Ability t issue bnds and cnfer exemptin frm certain state and lcal taxes. Financing vehicle t issue tax-exempt bnds t prvide funds fr the cnstructin f infrastructure. Alabama New Market Tax Credit (NMTC) Prgram Prvides state incme tax, financial institutin excise, r premium tax credits [State-level New Market Tax Credit] fr investments and businesses in impverished and lw incme cmmunities. Qualifying lcatin criteria fllw Federal guidelines. The Cmmunity Develpment Entity prviding the funds must have an active allcatin agreement executed by the Cmmunity Develpment Financial Institutins Fund. Alabama Innvatin Fund

4 As part f the implementatin f Accelerate Alabama, this fund was created t maximize the use f the State s ecnmic develpment resurces by leveraging annual research and develpment expenditures by Public Universities within the State t generate resurces which can be used t supprt ecnmic develpment initiatives. The Alabama Innvatin Fund supprts and perates tw (2) distinct prgrams. They are: (1) The Renewal Prgram. Sixty percent (60%) f the annual funding, net f expenses, shall be distributed thrugh grants t Public Universities which submit an Applicatin under this chapter. The allcatin t each Public University which makes applicatin shall be based n each Public University s federally financed research and develpment expenditures as reprted by the Natinal Science Fundatin. (2) The Research Prgram. Frty percent (40%) f the annual funding available t the Alabama Innvatin Fund, net f expenses, shall be used t fund the Research Prgram. These funds shall be distributed, in keeping with the State s gals t stimulate ecnmic develpment as set ut in Accelerate Alabama, t Public Clleges and Universities wh submit an Applicatin thrugh a cmpetitive prcess. TVA Ecnmic Develpment Lan Fund A multimillin-dllar revlving lan prgram designed t stimulate investment and jb creatin in the TVA regin. Lans must be c-spnsred by a pwer distributr, lcal gvernment, r ecnmic develpment agency and are made available t new and expanding industrial cmpanies fr fixed assets such as buildings, machinery, and equipment. Cmmunity Develpment Blck Grant/Lan Prgram Prvide a flexible surce f annual grant funds fr lcal gvernments funds that they, with the participatin f lcal citizens, can devte t the activities that best serve their wn particular develpment pririties, prvided that these prjects either (1) benefit lw- and mderate-incme persns; (2) prevent r eliminate slums r blight; r (3) meet ther urgent cmmunity develpment needs. Appalachian Reginal Cmmissin and Delta Reginal Authrity Grants Federal-state partnerships that wrk with the peple f 37 Appalachian cunties in Alabama and the Mississippi Delta regin s twenty Alabama cunties t create pprtunities fr self-sustaining ecnmic develpment and imprved quality f life. Prgrams create thusands f new jbs, increase schl readiness, imprve lcal water and sewer systems, expand access t health care, assist lcal cmmunities with strategic planning, and prvide technical, managerial, and marketing assistance t emerging new businesses. USDA Rural Develpment in Alabama A variety f lan, grant, and lan guarantee prgrams, plus technical assistance in the areas f business and industry, cperative develpment,

5 rural husing, cmmunity facilities, water and waste dispsal, and telecmmunicatins, including distance learning and telemedicine.