Business Facilities - January 2008 - (Page 7) competition. These grants may cover solutions for the following operational areas: manufacturing technology, marketing and sales, management, information technology, and engineering. COMMERCIAL/INDUSTRIAL SOLAR ENERGY TAX CREDIT: The primary goal of this program is to stimulate the production and use of solar energy in commercial and industrial applications by subsidizing the initial cost of solar energy devices. The program achieves this goal by providing an Arizona income tax credit for the installation of solar energy devices in Arizona business facilities. The tax credit is equal to 10% of the installed cost of the solar energy device not to exceed $25,000 in credits for one building in a single tax year and $50,000 total credits per business per tax year. Tax credits can be used to offset Arizona income tax liability; any unused credit amounts can be carried forward for a fiveyear period. The HEALTHY FOREST ENTERPRISE INCENTIVES PROGRAM provides incentives for certified businesses that are primarily engaged in harvesting, initial processing, or transporting of qualifying forest products. The main objective of the SMALL BUSINESS CAPITAL INVESTMENT TAX INCENTIVE PROGRAM (ANGEL INVESTMENT PROGRAM) is to expand early-stage investments in targeted Arizona small businesses by providing tax credits to investors who make capital investment in small businesses certified by the Arizona Department of Commerce. For a qualified bioscience or rural company, the tax credit may total up to 35% of the investment amount over three years; for any other qualified business, the tax credit may total up to 30% over three years. If the tax credits exceed the investor’s income tax liability, any unused tax credit amount may be carried forward for up to three taxable years as long as the investor timely claims the credits. There are $20 million in tax credits available to qualified investors beginning July 1, 2006 through June 30, 2011. ARKANSAS ADVANTAGE ARKANSAS: This incentive is given as an income tax credit on state income tax equal to between 1% and 4% of new pay- roll for five years, depending on the tier of the county in which the business locates. TAX BACK: Advantage Arkansas participants investing at least $100,000 are eligible for the Tax Back program. This program provides a refund of sales and use taxes for building materials and taxable machinery and equipment associated with the approved project. INVESTARK is a sales and use tax credit program available to businesses established in Arkansas for two years or longer that invest $5 million or more in plants or equipment, new construction, and expansion/modernization. A credit against the business’ state sales and use tax liability is authorized equal to 0.5% above the state sales and use tax rate in effect at the time a financial incentive agreement is signed. The sales and use tax credit is a percentage of eligible project cost. Total project expenditures must be incurred within four years of the project plan approval. THE ARKANSAS SCIENCE AND TECHNOLOGY AUTHORITY INVESTMENT FUND is a special investment fund of $2.8 million that can provide seed capital for new and developing technology-based businesses through loans, royalty agreements, and limited stock purchases. In addition, the authority also administers a program that encourages the transfer of technology from the laboratory to the manufacturing or processing plant. ARKPLUS is a state income tax credit program that provides tax credits of 10% of the total investment in a new location or expansion project. ArkPlus requires both a minimum investment and a minimum payroll of new, full-time, permanent employees hired as a result of the project, depending on the tier in which the business locates. The income tax credits may be used to offset 50% of the What makes this one of the most ideal automotive sites in the country? To start, it’s in the heart of the country — just west of Memphis. The one-owner site offers 1,265 level and cleared acres. It’s located in the trucking capital of North America (one mile from the junction of I-55 and I-40), and more major markets, 152, can be reached overnight from here than any other area in the nation. Plus, it has easy accessibility to Memphis International Airport (20 minutes), the Mississippi River (10 minutes), and all five Class 1 railroads (10 minutes). And once you get down to business, you’ll have a workforce of more than 650,000 people to choose from in the metro area. If you like what you see, visit 1-800-ARKANSAS.com or www.marionarkansas.org to find out more. City of Marion, Department of Economic Development 31 Military Road / Marion, Arkansas 72364 / 870-739-5414 www.marionarkansas.org / e-mail kayb@marionarkansas.org #2204 at www.BusinessFacilities.com BUSINESS FACILITIES 7 http://www.businessfacilities.com/blog/index.html http://marionarkansas.org/ http://www.marionarkansas.org http://www.marionarkansas.org http://www.marionarkansas.org http://www.BusinessFacilities.com
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