Business Assistance Programs
Site Selection
The Economic Development Department works closely with the local real estate brokerage and development community, providing current information on prospective sites, infrastructure and demographics.
Enterprise Zone
Portions of Glendale are located in the Western Maricopa Enterprise Zone
(WMEZ). WMEZ offers corporate income tax credits and/or
property tax reductions to qualified new and expanding businesses that create jobs, make a capital investment, and bring vitality to the Zone. Tax credits may total up to $3,000 per qualified employment position over three years for a maximum of 200 employees in any given tax year. 35 percent of the
net new eligible employees must live within an enterprise zone in the same county as the business when hired.
Property reclassification is available for qualified manufacturing businesses locating or expanding facilities in an enterprise zone. A manufacturer in an Enterprise Zone is eligible for an assessment ratio of 5 percent on all personal and real property (for primary tax purposes only) for five years, resulting in an 80 percent reduction on primary real and personal property taxes.
Industrial Development Authority
Glendale’s Industrial Development Authority can provide
up
to $10 million in tax-exempt Private Activity Bonds (formerly Industrial Revenue Bonds) for
an
eligible project. Development Advocacy
The City of Glendale’s Economic Development Department serves as
a “one-stop shop” for businesses requiring development assistance and information. Examples
of this assistance include:
- Up-to-date information on exciting development
- Current market trends
- Areas of development opportunity
- Up-to-date demographics and statistics
Visual Improvement Program
The Commercial Visual Improvement Program (VIP) is intended
to assist in the exterior improvement of commercial and industrial properties by offering a rebate
of up to 50 percent of any qualified improvement costs. Eligible improvements include building facades, permanent landscaping, paving, signage, painting, and other exterior improvements approved by the city. This program is only for buildings older than 15 years or in the redevelopment area. It is not available for residential projects. (To download guidelines and application Word document, click here.) Work Force Development
The Arizona Job Training Program defrays up to 75 percent of the costs of training new employees. Funds are available on a grant basis, and eligibility for funding is determined by the number of new hires, wage rates, benefits, and other basic elements related to the project. The Arizona Job Training Program helps companies upgrade the skills of existing employees through the “Incumbent Worker” portion of the program. The Incumbent Worker program may reimburse employers up to 50 percent of allowable training costs. In Arizona, business needs drive workforce development. The Arizona Department of Commerce provides multiple programs helping Arizona companies link employee development directly to their business strategy. Visit the following sites for more information: Accelerated Depreciation
A four-year accelerated depreciation schedule for class three and class four personal property has been adopted by the State of Arizona to encourage new capital investment and reduce a company’s personal property tax liability. Schedules for most equipment classes provide for depreciation down to 2 percent of original value. Transaction Privilege and Use Tax Exemption
Machinery or equipment used directly in manufacturing operations and R&D is exempt from both the Arizona transaction privilege (sales) tax and the Arizona use tax.
Additional Information
Information about other incentive programs available through the State of Arizona can be found at www.azcommerce.com/BusAttraction.
|
