Arkansas, and especially Mississippi County, is well equipped to strategically offer incentives for businesses expanding and locating in Mississippi County. We know that when you invest in our county, our investment in you provides us with a competitive advantage, growing our tax base and employing our residents.
To ensure that our incentives are invested strategically and responsibly, we evaluate companies on an individual basis, considering the current standing of the business and the quality of the project. We then partner with you to make your project a reality here in Mississippi County.
The local incentive fund was created to strengthen local revenues from taxes and employ Mississippi County residents in order to maximize the return on our investment of the funds.
The Mississippi County, AR 1/2 cent sales tax supports both large and small industries. Please examine this document if you are ready to create a product, which will add 3 - 5 jobs to the local economy. Incentives are based on number of jobs created and level of pay.
State income tax credit up to five years for job creation based on the payroll of new, full-time, permanent employees hired as a result of the project. See Tier Map for program benefits and requirements, including at least $12.50 average hourly wage.
State income tax credit program for tax credits of 10% of the total investment in a new location or expansion project, offered at the discretion of the AEDC Executive Director.
Annual cash payments based on a company’s annual payroll for new, full-time, permanent employees, offered at the discretion of the AEDC Executive Director based on a minimum payroll of new, full-time, permanent employees hired as a result of the project.
Businesses who provide childcare (approved by the Arkansas Department of Human Services, Division of Child Care and Early Childhood Education or contract the operations) for their employees at company-owned facilities for their employees are eligible for two state income tax credit options.
Exemption from sales and use taxes include machinery and equipment: Used directly in manufacturing and are required by Arkansas law for air or water pollution control or for removal of sulfur pollutants from refined petroleum.
The State Equity Investment tax credit earned may be used to offset 50% of the investor’s Arkansas income tax liability in any one tax year; unused credit may be carried forward for up to nine years or the tax credit may be sold upon approval by AEDC.
Targeted businesses are awarded incomes tax credits, at the discretion of the AEDC Executive Director, equal to 33% of the qualified research and development expenditures, including in-house expenses for taxable wages paid and supplies used in the conduct of qualified research incurred, each year for up to five years.
Eligible businesses that qualify for federal research and development tax credits may be offered state tax credits at the discretion of the AEDC Executive Director.
Income tax credit for the purchase of equipment (and installation by outside contractors) used exclusively for reduction, reuse, or recycling of solid waste material for commercial purposes.
Electricity and natural gas utilized by manufacturers in the manufacturing process is taxed lower than the state use tax (0.625%).
The State Equity Investment tax credit earned may be used to offset 50% of the investor’s Arkansas income tax liability in any one tax year; unused credit may be carried forward for up to nine years or the tax credit may be sold upon approval by AEDC.
AEDC shares the cost of project infrastructure needs by committing grants from state and federal infrastructure funds. The amount of assistance committed is dependent upon the strength of the company, number of jobs, average wage, project investment and costs associated with facility/site improvements.Â
Strategic value research provides for long-term economic or commercial value to the state, approved by the Board of Directors of the Arkansas Science and Technology Authority in the research and development plan.
Targeted businesses may be offered special incentives, at the discretion of the AEDC Executive Director
Sales and use tax refunds on the purchase of building materials and taxable machinery and equipment to qualified businesses investing the minimum required based on the tier.
A 33% income tax credit for qualified research expenditures under contract with one or more Arkansas colleges or universities may be earned by an eligible business.
An Opportunity Zone is an economically-distressed community where private investments, under certain conditions, may be eligible for capital gain tax incentives.