The purpose of Economic Development Tax Abatement is to encourage desirable development and/or redevelopment that would not otherwise occur “but for” the assistance provided. Tax abatement in this context is a rebate of taxes, rather than an exemption from paying property taxes.
The County will consider Economic Development Abatement for projects that serve to accomplish the County’s goals for economic development, including projects that will result in the creation of quality jobs (e.g. stable employment, wages with benefits) and the attraction, retention, and expansion of business and housing options in the County.
Typically, only businesses engaged in manufacturing, distribution, or value-added business or business providing services to these types of businesses will qualify for Economic Development Tax Abatement. Establishments engaged in the retail sales of merchandise to the public will generally not qualify unless they provide substantial opportunities for quality employment and economic development.
Both new businesses and existing business expanding within the county may apply for Economic Development Tax Abatement.
Contact the Economic Development office for more information: 507-836-6023 or email@example.com.