Incentives

The Maury County Chamber & Economic Alliance can guide prospective and expanding industries for the mutual benefit of your company and our community.  The incentives described below are negotiated and awarded by Maury County and/or the respective municipalities as part of the site selection process.  They are designed for the benefit of prospective and existing manufacturers.  However, some distribution centers and corporate offices also qualify.  To learn more, contact us.

Tax Incentives: This category of incentives includes property tax abatement or deferral and negotiated payment-in-lieu-of-taxes agreements for larger projects.  Projects are evaluated on a number of criteria such as:

• Number of net new jobs created
• Wage scales and/or skill level of new jobs
• Capital investment in Maury County

These incentives are awarded through the Industrial Development Boards of Maury County, Columbia, Mt. Pleasant

Infrastructure Assistance: Local assistance to extend 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.  Available in: Columbia, Mt. Pleasant

Economic Development Loan Fund:  The EDLF is a multimillion-dollar revolving loan program designed to stimulate investment and job creation in the Tennessee Valley Authority (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.  Details at:  http://www.tvaed.com/loans.htm

Financing/Loans: Mt. Pleasant has a limited revolving loan program.

Fast Track Permitting:  Projects on a short timeline with significant job creation potential can be expedited through the permitting process upon a plan review.  A local committee of building and regulatory officials meets at the request of the Maury Alliance to discuss pre-permitting questions and issues for complex or unique projects.

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.  In some cases, the IDB can negotiate attractive lease rates and assist with tax savings in Maury County, Columbia and Mt. Pleasant.

Maury County Economic Development Incentive Guideline      MC Incentive Guidelines.pdf

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.

Tennessee State 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 Tennessee Economic Development web site at http://www.tnecd.gov/Incentives_and_Financial_aid.html.