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Tax Increment Financing

Tax Increment Financing provides capital for eligible projects by rebating the new state tax revenue generated by the project. An eligible project must demonstrate need through a “financing gap”. The tax revenue rebate may not exceed 30% of total project costs (exemption for public infrastructure/utilities) or 75% of incremental revenue generated.

Target Industries:

  • Biomedical innovation
  • IT/software
  • Cyber-physical systems
  • Data analytics
  • Defense shipbuilding and maritime
  • Advanced business services
  • Design, food and custom manufacturing
  • Transportation, distribution, logistics
  • Arts
  • Education
  • Hospitality and tourism

Contact the Commerce Corporation about the application process.

 

Contact

business.development@commerceri.com

 

References

 

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