TENNESSEE INCENTIVES SUMMARY

FastTrack Infrastructure Program
Provides grants to local communities to assist with specific public infrastructure improvements that benefit one or more companies committed to creating new jobs and/or capital investments. The grants require a match from the local community based on the community ability to pay. Eligible infrastructure improvements include rail, roadway, port, airport, site, water, sewer, gas, and telecommunications.

FastTrack Job Training Assistance Program
Provides grants to assist new and expanding companies to assist with training new full-time employees.

FastTrack Economic Development Fund
This fund is used only in exceptional cases where a company may make a significant impact on a local community. Grants are made to local industrial development boards to support companies expanding or relocating in the state. The grants may be used to offset expenses not covered by other incentive programs.

Job Tax Credit (JTC)
A tax credit of $4,500 is available per job created for companies creating at least 25 new full-time jobs within three years and invests at least $500,000 in qualified capital investment. Companies may apply up to 50 percent of the tax credit in any given year, and unused tax credits may be carried forward for 20 years.

Enhanced Job Tax Credit
Provides an additional tax credit for new locations or expansions in Enhancement Counties, with the amount of tax credit and qualifications based on a tiered approach. Companies may apply 100 percent of the Enhanced JTC, and companies may not carry forward tax credits.

Industrial Machinery Tax Credit
A tax credit of one percent to ten percent for the purchase, installation, and repair of qualified industrial machinery.

Sales and Use Tax Credits and Exemptions
Tennessee provides tax credits and exemptions for qualified investments in a variety of facility uses, including headquarters, manufacturing, warehouse/distribution, call centers, data centers, and research and development.