What are the guidelines for federal level tax incentives?
  • Economic Impact - Measurable outcomes such as job creation and retention, broadening of the commercial tax base, increasing industry and commerce, job growth, promoting local, minority and small business development
  • Alignment with City development goals and priorities - Project adequately reflects the articulated goals for revitalization and is located in or adjacent to the developed tier and key strategic areas
  • "But for" test - Demonstration that the project would not move forward without an offering of public incentives from the City.
  • Ability to leverage private funds, federal and state financial support, and incentive programs for strategic economic development opportunities for the federal, state, county, and City

All investors are vetted for consistency with statutory goals and purposes of the program, with an independent review of credit and financial soundness of the borrower, and projections

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1. What is the General Income Tax Credit for hiring new employees?
2. What is the Large State Income Tax Credit for hiring economically disadvantaged employees?
3. What is the New Job Creation Tax Credit for hiring economically disadvantaged employees?
4. What is a Business Personal Property Tax Credit?
5. What are Real Estate Tax Credits for new construction?
6. What are Opportunity Zones Tax Deferrals or Abatements?
7. What is a New Market Tax Credit (NMTC) and how does the Tax Credit Work in the City of Seat Pleasant?
8. What is the purpose of Health Enterprise Zone (HEZ) Investment Initiative?
9. How does a Sustainable Community Designation receive funding?
10. What is a Qualified Opportunity Fund?
11. Does an investor need to live in Seat Pleasant to take advantage of the tax benefits of an Opportunity Zone?
12. Is the City of Seat Pleasant a qualified HUB Zone?
13. What are the guidelines for federal level tax incentives?
14. How do I apply for a business license?
15. What is the Economic Development Revolving Loan Fund (ED-RLF)?
16. What is the EB-5 Visa Program?
17. What's the difference between an Opportunity Zone investment versus a Non-Opportunity Zone investment?