ARKANSAS INCENTIVES SUMMARY
Provides a state income tax credit to companies creating new, full-time jobs. The tax credit is for a term of up to five years, and a company may claim tax credits for up to 50 percent of tax liability. Unused tax credits may be carried forward for up to nine years.
A state income tax credit of up to ten percent of the total investment in a new location or expansion project. The state reserves this incentive for highly competitive situations involving competition from other states. The credits may be used of offset 50 percent of the state income tax liability in the tax year earned. Unused credits may be carried forward for nine years.
A discretionary cash incentive based on new, full-time jobs created with a minimum of $2 million in new annual payroll. A company must meet the minimum payroll within two years of the effective date. The amount of assistance is determined by the strength of the company, number of jobs, average wage, project capital investment.
The state may support projects by participating in the cost of project infrastructure improvements by committing discretionary grants from state and federal infrastructure funds.
This program provides sales and use tax refunds on the purchase of building materials and machinery and equipment to companies making a capital investment of at least $100,000. This program is used in conjunction with the Advantage Arkansas or Create Rebate programs.
Notice: This list of economic development incentive programs is intended to provide a high-level overview of commonly pursued state discretionary programs. A comprehensive analysis of project details will determine the full scope of state and local incentive programs that may be available to support a specific project.