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.
- Biomedical innovation
- Cyber-physical systems
- Data analytics
- Defense shipbuilding and maritime
- Advanced business services
- Design, food and custom manufacturing
- Transportation, distribution, logistics
- Hospitality and tourism
Contact the Commerce Corporation about the application process.