Incentives

Provides for a statewide job tax credit for any business or headquarters engaged in industries such as: manufacturing, distribution, telecommunications, tourism, research and development or services for the elderly and those with disabilities.

Local governments which undertake redevelopment and revitalization efforts in certain older commercial and industrial areas can now qualify those areas for the State’s maximum job tax credit of $3,500 per job.

The Federal Qualified Opportunity Zone distinction was created to spur economic growth in low-income communities by allowing investors to defer federal taxes by taking capital gains from other investments and investing in these designated areas.