TVA Offerings State of Tennessee Incentives Coffee County Incentives

Incentives



    Coffee County Incentives


    PILOT Program


    The Industrial Board of Coffee County (IBCC) offers, to new and expanding industries of Coffee County, a Payment in Lieu of Tax (PILOT) program to abate both Real and Personal Property Taxes for qualified companies.  The terms of the PILOT program offered are established by the Industrial Board of Coffee County, based on the factors that determine company’s overall economic impact on the community. 

    A PILOT program can also be offered to a company leasing property for industrial use, provided the leasee is responsible for the tax payment and the property owner agrees to the terms of the PILOT and passes the abatement on to the industry.

    A list of qualifications for PILOT consideration are available through the Industrial Board of Coffee County.

    The Industrial Board of Coffee County Standard PILOT is as follows:

    Years PILOT Payment Due
    1 thru 5 40% of property taxes normally assessed
    6 thru 10 50% of property taxes normally assessed
    11 thru 15 60% of property taxes normally assessed
    16 thru 20 70% of property taxes normally assessed
    21+ 100% of property taxes normally assessed


    Development/Infrastructure Cost Assistance


    The Industrial Board, along with additional participating parties (Coffee County, City of Manchester. City of Tullahoma, etc.), are willing to discuss involvement in site development and/or infrastructure expenses to offset the company’s location or expansion costs.



    Permitting Assistance


    The Industrial Board will provide assistance in navigating the zoning/permitting process as needed.



    Industry Specific Training


    Motlow State Community College (MSCC) and the area’s three Tennessee Colleges of Applied Technology (TCAT) regularly work with new and existing industries to ensure the credit curriculum is current and relevant, and to remain ready to conduct any specific non-credit training requirements.   Examples of technical programs may include mechatronics, robotics, industrial maintenance, hydraulics, pneumatics, programmable logic controls, and computer aided drafting (CAD).   As TN Board of Regents institutions, students can obtain technical certificates or earn college credit. Also, these colleges can customize any class and instruct on one of the nearby campuses, or on-site at the company’s facility.


    Media Announcements:

    The Industrial Board in conjunction with the area Chambers of Commerce and State of TN Department of Economic and Community Development (ECD) will coordinate media announcements as the company needs.

     


      Property Taxes

      • Industrial Real Property is taxed at 40% of assessed value
      • Industrial Personal Property is taxed at 30% of assessed value
      • Rates are per $100 of taxed value
    Location City County Total
    Coffee County - 3.2629 3.2629
    City of Manchester 2.2999 2.9456 5.2455
    City of Tullahoma 2.60 2.8705 5.4705
    Coffee County Joint Industrial Park - 3.2629 3.2629
    Tullahoma Industrial Park 2.60 2.8705 5.4705
    Tullahoma Air Park 2.60 2.8705 5.4705
    Manchester Industrial Park 2.2999 2.9456 5.2455
    Interstate Industrial Park   3.5429 3.5429

                             Source: Coffee County Property Assessor May 2016


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TVA Offerings State of Tennessee Incentives Coffee County Incentives


    State of Tennessee Incentives

    TNECD

    Please contact The Tennessee Department of Economic & Community Development (TNECD) for a complete list of eligibility requirements and for more information.

        BENEFIT   ELIGIBILITY (not comprehensive)
    FastTrack Economic
    Development Fund*
      Grant provided to local communities to reimburse a company for eligible expenditures not covered by infrastructure or job training
    grants. The grant can help offset expenses such as relocation, temporary office space, capital improvements and retrofitting.
      Only used in exceptional cases where a company's impact, such as net new full-time jobs and capital investment, in a community is significant. These funds are available subject to terms of the Accountability Agreement executed by the state, community and company. TNECD is not able to provide incentives prior to the execution and approval of a contract.
             
             
    FastTrack Job Training
    Assistance Program*
      Grant to provide funding to support the training of net new full-time employees for new and expanding companies.   Funding levels are based on the number of net new full-time jobs created, amount of capital invested, wages of new employees and the types of skill and knowledge levels required. TNECD is not able to provide training incentives for any positions filled prior to the execution and approval of a contract.
             
             
    FastTrack Infrastructure
    Development Program*
      Grant provided to local governments for public infrastructure needs for new and expanding companies. TNECD will work with the local officials to identify eligible needs for a project, such as water, sewer, rail, gas, electric, roadway, telecommunications or other site improvements.   Must be for public infrastructure improvements benefiting a specific company generating net new full-time jobs and capital investment; requires local matching funds. For onsite improvements, the community must provide a PILOT on the real property investment for at least 5 years. TNECD is not able to provide incentives prior to the execution and approval of a contract.
             
             
    Tax Credits & Exemptions    
             
    Job Tax Credit*   Credit of $4,500 per job to offset up to 50% of franchise and excise (F&E) taxes in any given year with a carry forward for up to 15 years.   Create at least 25 net new full-time jobs
    within a 36 month period and invest at least
    $500,000 in a qualified business enterprise.
     
     
    Enhanced Job Tax Credit*   Allows an additional annual credit for locations/ expansions in designated Tier 2 and Tier 3 Enhancement Counties. Enhanced JTC can
    offset up to 100% of F&E liability.
      Create at least 25 net new full-time jobs
    within a 36 month period and invest at least
    $500,000 in a qualified business enterprise.
        Tier 2: 3 year annual credit at $4,500 per job with no carry forward.    
        Tier 3: 5 year annual credit at $4,500 per job with no carry forward.    
             
             
    Industrial Machinery Tax Credit   Credit of 1% to 10% for the purchase, third-party installation and repair of qualified industrial machinery.   Manufacturing: includes purchases for machinery;
    apparatus and equipment with parts;
    appurtenances and accessories; repair parts and labor.
            Warehousing and distribution: includes material
    handling equipment and racking systems
    with a minimum $10M capital investment within 36 months.
            Headquarters, call centers: includes computer;
    network; software or peripheral computer
    devices, purchased in making required capital investment for job tax credit.
             
             
    Sales and Use Tax Exemptions*   Manufacturing: sales tax exemption for industrial machinery and reduced sales tax rate for utilities at qualified manufacturing facilities.   Exemptions include industrial machinery, repair
    parts and industrial supplies used in the
    manufacturing process. Reductions include:
    0-1.5% tax on water depending on use and 0-
    1.5% on gas, electricity and various energy sources depending on use.
             
             
    Other        
             
    Export Assistance   TNECD offers Tennessee companies valuable export services for up to two global markets per year at no cost. The State's offices in the United Kingdom, European Union, Mexico and China
    provide:

    • Market Checks
    • Market Strategy Reports
    • Trade and Travel Assistance
    • Market Entry Recommendations and Assistance
     
     
    Applicant Recruitment and Screening (TDOL)   Free assistance with the recruitment and screening of job applicants based on a company's
    specific job requirements. More than 70,000 potential employees in statewide database.
     
     
    State Industrial Access Program
    (TDOT)
      Funds the construction of roadways to support industrial areas based on project type, economic benefit, physical constraints and available funding.
     
    * Definition of net new full-time job: 37 1/2 hours a week, 12 months and health coverage offered.


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TVA Offerings State of Tennessee Incentives Coffee County Incentives

     

    TVA Offerings

    Coffee County is proud to have a strong partnership with TVA.  The programs offered by TVA continue to help build and maintain a strong community with services that not only benefit our industries, but also our citizens.

    Target Industries
    The TVA Target Market Specialists work with your company representatives to determine the needs of your industry and meet those needs with the services available that provide you with the best possible advantages. >View Target Industries

    Technical Services
    TVA offers a comprehensive list of services to industries, including engineering, design, research and analysis. >View Technical Services

    TVA Sites
    The TVA Sites data base provides you with detailed information on available properties in each of the TVA served communities. >Vistit the TVA Economic Development Website

    Quality of Life
    The Tennessee Valley is among the fastest growing regions of the country.  Industries and people are seeing what we have known for generations… this is the best place in the country to live, work, and play. >Living in the Tennessee Valley

    Financial Resources
    With the Valley Works program, TVA offers competitive advantages and incentives to your company when you plan to locate or expand in the Tennessee Valley service area. >TVA Incentive Programs

    Contact Us
    To begin a conversation with a TVA specialist and learn more about how their services and programs can benefit you, contact your local TVA office.

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TVA Offerings State of Tennessee Incentives Coffee County Incentives

 
Industrial Board of Coffee County | 1329 McArthur Street, Suite 4 | Manchester, TN 37355 | (931) 723-5120
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