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        林东天气

        林东天气

        林东天气

        • Project must create minimum 50 jobs (minimum 25 jobs in targeted county; Mobile County is not targeted county)
        • Following industries must create net new jobs, but are not subject to minimum job requirements:
          • Chemical
          • Data Centers
          • Engineering, Design and Research

         

        林东天气Benefits and Restrictions林东天气

        • Annual cash rebate up to 3%?of the previous year’s gross payroll for eligible employees for up to 10 years
        • If a company employs at least 12% veterans in the eligible workforce, up to an additional 0.5% job credit available for the veterans’ wages
        • In targeted counties, up to additional 1% job credit is available (Mobile County is not a targeted county)
        • Jobs credit is only applicable to employees who are Alabama residents

        林东天气

        林东天气

        The Opportunity Zone incentive is a new community investment tool established by Congress in the Tax Cuts and Jobs Act of 2017 to encourage long-term investments in low-income urban and rural communities nationwide.

        See the guide below or visit opportunityalabama.com.

         

        林东天气

        Incentive to stimulate economic growth through new job creation, capital investment and increased cargo shipping.

        林东天气

        • Shipper must use an Alabama public port.
        • Shipper must be engaged in manufacturing, warehousing or distribution of goods.
        • Shipper must increase cargo by at least 5% over the prior year.
        • Credit must be approved by the Renewal of Alabama Commission.

         

        林东天气Benefits and Restrictions林东天气

        • One-time tax credit of up to $50 per TEU, $3 per net ton of bulk cargo, or $0.04 per net kilogram for air cargo.
        • Credit against Alabama income tax liability.
        • Credit can be carried forward for 5 years.
        • New distribution or warehouse shippers investing at least $20 million and creating at least 75 net new jobs are eligible to receive up to $100 per TEU over a 3-year period if entering into a project agreement with the state.

        林东天气

        Incentive to provide a source of funds for site preparation and public infrastructure needs of existing industrial sites.

        林东天气

        • An eligible site must have a deficiency in site preparation or public infrastructure.
        • An eligible site must have either (1) a potential project, or (2) an identifiable reason that an industrial prospect did not select the site in the past.
        • An eligible site must be owned by a local economic development organization, such as an IDA, IDB, chamber of commerce or other nonprofit economic development organization.
        • 25% of the Growing Alabama Funds are earmarked for sites located in Targeted Counties.
        • Projects must be approved by Commerce and the Renewal of Alabama Commission.

         

        林东天气Benefits and Restrictions林东天气

        • Approved projects are funded when taxpayers make contributions to a local economic development organization.
        • Taxpayers receive a tax credit equal to their contributions. The tax credit may offset up to 50% of the taxpayer’s income tax liability.
        • Credit can be carried forward for 5 years.

        林东天气

        林东天气Eligibility林东天气

        • Project must create minimum 50 jobs (minimum 25 jobs in targeted county; Mobile County is not targeted county)
        • Following industries must create net new jobs, but are not subject to minimum job requirements:
          • Chemical
          • Data Centers
          • Engineering, Design and Research

         

        林东天气Benefits and Restrictions林东天气

        • Credit of up to 1.5% of the qualified capital investment expenses for a qualifying project for up to 10 years.
          • Credit can be used against Alabama income tax liability and/or utility tax liability
        • If a company in a targeted county sells majority of its output within 50 miles, the credit can be extended for up to 15 years
        • Investment credit may be carried forward by the company for 5 years
          • The investment credit may be transferable for the first 3 years to generate cash. The transfers must be at least 85% of face value and are subject to the approval of the Alabama Department of Commerce.

        林东天气

        Tax abatements are designed to incentivize new industries to locate and existing industries to expand in Alabama. These abatements are designed for:

        • New facilities and expansions (Section 40-9B-1)
        • Existing facilities: refurbishments, upgrades or placed back in service (Section 40-9G-1)

         

        林东天气Eligibility林东天气

        To qualify for abatements of non-educational sales and use taxes and non-educational property taxes, a company’s business activity must constitute an 林东天气industrial or research enterprise林东天气 in Alabama.

         

        林东天气Benefits and Restrictions林东天气

        • 林东天气New facilities and expansions (Section 40-9B-1)林东天气
          • Abatement of non-educational sales and use tax on constructive materials
          • Abatement of non-educational ad valorem taxes for up to 20 years
            • For years 11-20, City, County and State non-educational ad valorem taxes must be abated separately by each respective entity
          • AIDT workforce training
        • 林东天气Existing facilities: refurbishments, upgrades or placed back in service – minimum $2 million (Section 40-9G-1)林东天气
          • Abatement of non-educational sales and use tax on construction materials and equipment
          • Abatement of non-educational ad valorem taxes for up to 20 years on the incremental ad valorem tax increases
            • For years 11-20, City, County and State non-educational ad valorem taxes must be abated separately by each respective entity.
          • Exemption from taxes for increased utility services for up to 10 years
          • AIDT workforce training

        林东天气

        林东天气Industrial Development Bond Financing林东天气

        Local authorities may issue tax exempt bonds for financing industrial development for new and expanding businesses. There is no ad valorem tax assessment on land, building and/or equipment when financed by bonds. Sales & Use Tax exemptions also apply.

        林东天气Foreign Trade Zone (FTZ)林东天气

        The Mobile FTZ No. 82 is located through major parts of Mobile County. Approved usages include storage, processing, manufacturing and display of merchandise.

        林东天气

        林东天气AIDT林东天气

        AIDT, often referred to as Alabama’s No. 1 incentive, is designed to recruit and train a company’s entire workforce to company specifications at no cost. In Mobile, courses are established in aviation, welding, electro-mechanical maintenance, distribution control systems, instrumentation, office automation desktop publishing and management. Other courses are custom designed for new and expanding Alabama businesses.