Local Incentives

Projects involving a significant capital investment and number of new jobs may qualify for the region's agressive incentive program. Incentives are offered to both new and expanding properties. In order for the Highlands Economic Partnership's economic development team to determine if your project is eligible to recieve incentives, we will need to know the following general project informaion: total proposed capital investment, number of net new jobs to be created, and wages of the newly created jobs. 

The Highlands' economic development team will work with your company to create a flexible incentive that meets your needs. For futher information concerning local incentives, please contact Rod Kirk. 

Tax Abatement

Manufacturing, distribution, call center, or data center projects meeting the minimum requirements may qualify for a Payment in Lieu of Tax (PILOT) agreement. This program can enable a company to substantially reduce its tax burden during the critical early phases of operation. Companies are eligible to take advantage of the PILOT by entering into a lease-back agreement with the Industrial Development Board of the respective community where the project is planned. PILOTs are considered on a case-by-case basis and are based on an analysis of job creation, capital investment and wage rates.

Industrial Revenue Bonds

Tennessee law authorizes Industrial Development Boards to issue bonds to finance industrial facilities. Tax-exempt industrial revenue bonds are available for qualified manufacturing operations. The financial strength of the company at the time the bonds are taken to market will determine the rate of the bonds. IRBs can be issued and loaned to eligible companies to acquire land, buildings, or equipment.