Targeted Business Incentives
Targeted business incentives are offered at the discretion of the Director of the Arkansas Economic Development Commission. Businesses that qualify as "targeted businesses" may qualify for three special incentives designed to help new, knowledge-based businesses in their early years.
These discretionary incentives are for start-up companies in emerging sectors:
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Sales Tax Refund – A refund of sales and use taxes paid on the purchase of building materials and machinery and equipment associated with the approved project
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Payroll Tax Credit – A transferable income tax credit equal to 10% of payroll for up to five years
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Targeted In-House R&D – A transferable income tax equal to 33% of eligible research and development expenditures
The income tax credits earned under this program may be sold upon approval by the Economic Development Commission.
For more information, Joey Dean (Vice President, Economic Development; Executive Director, Metro Little Rock Alliance), 501.377.6006.