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Incentive Programs
The Economic Development Group of Eloy serves as a facilitator
for businesses to utilize every resource available, with the
growth and prosperity of the company in mind.
A combination of Federal, State, and County incentives makes the
business climate in Eloy superior to other cities around the
country.
Added benefits are available through the Enterprise Zone.
Click here for more information:
http://www.azcommerce.com/BusAsst/Incentives
These are just of few of the many Incentives and
Programs that EDGE and Arizona have to offer:
Angel Investment Program - Provides tax credits to investors who
make capital investments in small business. The main
objective of the Angel Investment program is to expand early
stage investments in targeted Arizona small businesses. The
program accomplishes this goal by providing tax credits to
investors who make capital investment in small businesses
certified by the Arizona Department of Commerce.
APS Energy Efficiency - Incentives worth up to $300,000 when
energy efficient equipment is used. APS Business customer who
upgrade or build their facilities with energy efficient
equipment can apply for incentives. 75% of the
prescriptive measure cost, up to $150,000 per year for customers
with an aggregated demand of 200 kW or less, and $300,000 per
program year for customers with aggregated loads greater than
200 kW demand.
Custom incentives are capped at 50% of incremental measure cost
and $300,000.
AZ Job Training Program -
Under the “Net New Hire” portion of the grant program,
businesses can apply for grants that return up to 75% of the
costs of training net new employees in jobs that meet wage
criteria. The “Incumbent Worker” portion of the grant program
will allow for training that upgrades the skills of your
existing employees. The Incumbent Program can reimburse
employers up to a maximum of 50% of allowable training costs..
Enterprise Zone Tax Credits - Programs designed to encourage
private investment through tax credits and property tax
reductions. The program offers two types of benefits:
income or premium tax credits and property tax reduction.
Click here to learn more information about the
Pinal County Enterprise Zone.
Pollution Control Tax Credit -
This tax credit is administered by the Arizona Department of
Revenue (AZDOR). The credit provides a 10 percent income tax
credit on the purchase price of real or personal property used
to control or prevent pollution.
Healthy Forest Enterprise Incentive - The program provides
incentives for certified businesses that are primarily engaged
in harvesting, initial processing or transporting of qualifying
forest products. The primary goal of the Healthy Forest
Enterprise Incentives Program is to promote forest health in
Arizona.
R&D Tax Credits - Research & Development Income Tax Credit
is a state income tax credit for qualified research and
development done in Arizona. This includes research conducted at
a state university and funded by the company. If the allowable
expenses do not exceed $2,500,000 the allowable credit is 20
percent of this amount. If the allowable expenses exceed
$2,500,000, the allowable credit amount is $500,000 plus 11
percent of the amount of expenses over $2,500,000, subject to
certain limitations.
SBIR & STTR Grants -
The Small Business Innovative Research (SBIR) and Small Business
Technology Transfer (STTR) Programs provide grants to small
businesses for research and development of technology with
commercialization potential. All federal agencies with research
and development budgets greater than $100 million must
participate in SBIR, and those with budgets above $1 billion
must also participate in STTR, by setting aside a percentage of
their budget for small businesses. It is anticipated there will
be 4,600 awards totaling $1.9 billion in this fiscal year!.
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