State tax credits that encourage and reward growing businesses

State tax credits and incentives are big business and often create a mutually-beneficial relationship between the providers and recipients of the incentives.

These incentives can spur growth in traditionally underrepresented industries, such as enticing technology companies to relocate high-paying jobs and highly-educated personnel, or establishing data centers to increase a state’s presence in the cloud computing era.

Other incentives may be focused on manufacturing, providing incentives to build new or expanded facilities resulting in more active assembly lines. Some states have created incentive “zones” that provide benefits to businesses that locate to a designated area. Moreover, tax credits and incentives are not just statutory in nature — many can be uniquely negotiated for a particular business to encourage retention and investment.

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