On June 7, 2023, Texas Governor Greg Abbott signed legislation (HB 5) revitalizing Texas’s primary incentive tool for economic development. The new legislation replaces the expired Chapter 313 program, which provided property tax incentives for companies that agree to expand and create jobs in specific locations. The revised program will similarly offer property tax incentives to attract business […]
Illinois New Economic Development Incentives
Illinois recently passed major new economic development legislation that is set to boost the state’s economic competitiveness. The incentives, signed into law by Governor JB Pritzker on February 3, provide stronger financial assistance for businesses to relocate to or expand in the state, and makes it easier for them to qualify for existing programs, particularly […]
3rd Quarter 2022 Legislative Updates
Key Development that affected US state and local income/franchise and other business taxes for the third quarter of 2022. Iowa – certifies corporate income tax rate reduction starting in 2023 On March 1, 2022, Iowa Governor Kim Reynolds signed 2022 IA HF 2317, provisions of which provide for the reduction of corporate income tax rates […]
Pinellas County, Florida: Industrial Site Development Funding
New Application Window Open for Office and Industrial Site Development Funding in Pinellas County, Florida Pinellas County has committed funds in excess of $80 million for its Employment Sites Program to provide capital for the construction or redevelopment of office buildings and industrial (manufacturing & flex) sites where projects support economic growth and job creation […]