The Create Rebate program provides qualified businesses a financial incentive equal to 3.9 to 5 percent of the annual payroll of new full-time permanent employees. The program requires a minimum payroll of $2,000,000 within 24 months for the new full-time permanent employees hired after the date of the financial incentive agreement. The payroll rebate benefit can only be authorized at the discretion of the Director of the Arkansas Economic Development Commission and may be offered for up to ten (10) years.
The Create Rebate incentive may also be awarded by AEDC to technology-based enterprises that have a minimum annual payroll of $250,000 and pays wages at least 175% of the state or county average hourly wage, whichever is less. The payment amount will equal 5% of the company’s annual payroll for the new full-time permanent employees.
ACA § 15-4-2707 as amended by Act 327 of 2019 states, to receive incentives under this program, a qualified business shall meet minimum annual payroll thresholds for new full-time permanent employees for the county tier in which the project is located.
The qualifying business must apply to the Arkansas Economic Development Commission. For information regarding application into the Create Rebate Program, contact Arkansas Economic Development Commission at (501) 682-1121 or visit their website at http://arkansasedc.com/.Â