Incentives

To attract new businesses and encourage the expansion of existing ones, local incentives are available for assisting companies in creating new jobs and investing in the city.

Applications are evaluated according to the following:
  • Number of jobs created
  • Types of jobs created
  • Wages (usually the minimum average for the area)
  • Amount of capital investment
  • Overall economic impact
  • Advances community vision and goals
  • Location in an area of interest (e.g., historic downtown, Mathis Avenue)

Incentive Programs

Name Type Description
Partial Exemption of Taxes on Substantially Rehabilitated Real Estate Tax Modification To encourage redevelopment and revitalization, a portion of a property owner's real estate taxes may be exempted based on the added value of physical improvements to the property; phased over 10 years. Tax application guidelines
Partial Exemption of Taxes on BPOL Tax Modification New and expanding businesses in the citywide Technology Zone may qualify for a full or partial exemption of their BPOL for a period of up to 5 years.
Sales Tax Rebate Tax Modification New and expanding retail businesses in the Downtown Arts and Tourism District may be eligible for a 0.5% rebate of the 1.0% local sales for a period of up to 5 years
Economic Opportunity Fund Cash Grant New and expanding businesses in the citywide Technology Zone or Downtown Arts and Tourism District may qualify for a cash grant for up-front costs like site acquisition, building, site plan, permitting fees, utility tap fees, etc.
Industrial Development Revenue Bonds Financing Strategy Businesses may qualify for industrial development revenue bond financing to acquire land, construct or expand buildings, and/or purchase equipment.
Fast Track Permitting Process Enhancement Any new or existing business may qualify for an expedited review of a required permit or plan to locate in new or existing space.
Facade Improvement Grant (FIG) Cash Grant Matching grants to visually enhance the streetscape and increase interest in designated areas.  FIG Guidelines.
Landscape Improvement Grant (LIG) Cash Grant Matching grants to encourage the improvement of landscapes along major thoroughfares and at gateway entrances to the City. LIG Guidelines

Applications

Downloadable PDF application forms: