Monday, September 6, 2010

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Incentives

Incentives may be available to expanding existing industries and prospective companies who choose to locate in Chambers County.


Incentives are based on job creation, capital investment, and wage rates. For eligible projects, statutory incentives may include:

  1. Property Tax Abatements - Abatement of all non-educational ad valorem taxes on land, building, machinery and equipment can be granted for a period of ten (10) years. 
  2. Sales and Use Abatements - Abatement of all non-educational sales and use taxes on construction materials, machinery and equipment placed in service at the facility can be granted. 
  3. Capital Investment Tax Credit - This program allows qualified companies to claim tax credit against Alabama income tax liability generated by or arising out of a qualifying Alabama project, not to exceed 5% of initial capital cost annually and also not to exceed twenty years from the date the qualifying project is placed in service. 

Additional, non-statutory, local incentives may be available as well, and are determined on a case-by-case basis.