MAURY COUNTY, TENNESSEE
STATE, COUNTY & MUNICIPAL INCENTIVES FOR NEW INDUSTRY
This information has been compiled and produced by the Maury Alliance, the economic development agency for Maury County, Tennessee, for the benefit of prospective and existing manufacturers. (Some distribution centers and corporate offices also qualify. There are also minimum levels of new jobs created and capital investment for certain incentives listed here. Please contact the Maury Alliance to discuss the criteria.) While Maury County and its municipalities (Columbia, Mt. Pleasant, and Spring Hill) enjoy a locational and economic advantage over most other mid-south communities, we want to maintain our competitive edge to select business and industry.
The incentives described within are negotiated and given by Maury County and/or the respective municipalities as part of your site selection process (appropriate entities are identified in bold type under the description of each incentive). The Maury Alliance is prepared to give guidance and work with prospective and expanding industries for the mutual benefit of your company and our community.
Tax Incentives: This category of incentives includes property tax abatement or deferral and negotiated payment-in-lieu-of-taxes agreements for larger projects. Each project is evaluated on its own merits. Generally, criteria will include: number of net new jobs created; wage scales and/or skill level of new jobs; and, capital investment in Maury County. Any incentives of this type are given through the Industrial Development Boards. Maury County, Columbia, Mt. Pleasant
Infrastructure Assistance: Local assistance extending roadways, water and/or sewer lines, or other utilities can be provided for appropriate projects. While all government entities in Maury County will assist with securing state grants/incentives for infrastructure improvement, local financial assistance is limited and selective. Columbia, Mt. Pleasant
Economic Development Loan Fund: A multimillion-dollar revolving loan program, the EDLF is designed to stimulate investment and job creation in the TVA region. Loans must be co-sponsored by a power distributor, local government, or economic development agency and are made available to new and expanding industrial companies for fixed assets such as buildings, machinery, and equipment http://www.tva.com/loans.htm
Financing/Loans: There are not as many local government loan programs nationally as there were in the ?80s and early ?90s. Mt. Pleasant has a limited revolving loan program. Mt. Pleasant
Fast Track Permitting: We realize that permitting has two important costs associated with the process - time and money. For projects on a short timeline, with significant job creation potential, plan review can be expedited. A local committee of building and regulatory officials meets at the request of the Maury Alliance on projects of a complex or unique nature to address pre-permitting questions and issues Maury County, Columbia, Mt. Pleasant, Spring Hill
Industrial Development Boards: There are two local Industrial Development Boards that have the authority to hold, lease or sub-lease land and buildings for industrial concerns. For some companies and building owners, using an IDB can save tax dollars and/or lower lease rates. Maury County, Columbia & Mt. Pleasant
Available Land - County Owned: The new Cherry Glen Business Park is a county-owned project, with competitively priced land. Park infrastructure improvements are complete in Phase I. Maury County
Tennessee Incentives: The State of Tennessee aggressively pursues opportunities to attract new jobs and capital investment to the State and has been very supportive of Maury County's economic development program.
State incentives include training assistance, infrastructure improvements and tax credits. For a complete list of possible incentives, please review the TN ECD website at http://www.tnecd.gov/bizdev_incentives.htm
