 |
||
 |
||
|
||
|
|
|
|
|
||
|
||
|
||
| Economic Development |
| Our Team |
| Our Board |
| Our Committees |
| Our Location |
| Our Next Steps |
| Pathways 2020 |
| Your Suggestions |
| How can we assist you? |
| Site Location |
| Permitting Assistance |
| Business Expansion & Retention |
| Business Finance |
| Policy Development |
| Incentives |
 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
:: Incentives ::
|
|
New and existing manufacturers, research and development firms,
and certain high technology companies in Washington can benefit
from several targeted tax incentives. These incentives are intended
to encourage the preservation and creation of family-wage jobs. New Business
Sales / Use Tax Exemption
Warehousing Sales & Use Tax Exemption Cowlitz County now offers a tax incentive for warehouse and grain
operations that meet certain criteria. Wholesalers, third party
warehouses, grain elevator operators and distribution centers are
included.
Distressed County Manufacturing Sales and Use Tax Exemption In addition to the New Business Sales and Tax Exemption, Cowlitz
County also grants an additional sales/us tax waiver for manufacturing,
research and development, or computer related businesses (excluding
light and power businesses) locating in Cowlitz County.
High Technology Sales/Use Tax Exemption Businesses in the following research and development technology categories
may be eligible for a sales/use tax exemption if they start new research and development or pilot scale manufacturing operations, or expand or diversity a current operation by expanding, renovating or equipping an existing facility in Cowlitz County. Eligible Candidates: The investment
project must be devoted to research and development or pilot scale
manufacturing to qualify for this exemption. The investment must
consist of machinery and equipment, new structures, and/or expansion
or renovation to increase floor space or production capacity. The
machinery and equipment may be used, but must be new to the state
or to
Distressed Area B&O Tax Credits Cowlitz County provides a $2,000-$4,000 per employee credit against the B&O tax for each new employment position created and filled by certain businesses locating in Cowlitz County. Eligible Candidates: The business must be a manufacturing, research and development, or computer-related service business (excluding light and power business) that locates or expands in Cowlitz County. Incentive: For new jobs paying less
then $40,000 annually, including benefits, the tax credit is $2,000
per employee. For new jobs paying more than $40,000 or more annually,
including benefits, the tax credit is $4,000 per employee. There
is no tax credit limit under this program. An employee"in training"
qualifies as filling a position. The positions must be new. Positions
may not be transferred from an established site in Washington to
a new site unless the vacated positions are filled. Remaining B&O
tax credits may be used in later years until the credit is exhausted.
An application must be filed with the Department of Revenue before
filling the
Distressed County B&O Tax Credit An additional new B&O Tax credit is available to businesses which have received approval for the Distressed Area Sales/Use Tax Deferral Exemption Program. Eligible Candidates: The business must locate in Cowlitz County and receive approval for the Distressed Area Sales/Use Tax Deferral Exemption Program. The business must also provide employee job training to their employees at no cost to the employees. Incentive: The maximum annual credit
a business may use is $5,000. The credit is computed by multiplying
the approved training cost by 20 percent.
High Technology Business & Occupation Tax Credits Businesses that perform research and development in Washington
in specified high technology categories and meet the minimum expense
requirements are eligible for business and occupation tax credits
of up to $2 million per year
The rate of the credit for nonprofit corporations is .515 percent
(.00515) of expenses, and for profit corporations, the rate is 2.5
percent of expenses. The business' spending on research and development
during the year the credit is claimed must exceed .92 percent (0.0092)
of the business' taxable amount during that same year. Spending
for research and development includes operating expenses, wages
and benefits, supplies, and computer expenses directly incurred
while conducting the research and development.
Distressed County High Tech Business & Occupation Tax Credits SSB 6470 provides a credit for tax otherwise due for persons engaged
in the business of the creation, distribution, wholesaling, or warehousing
of canned or custom software.
Cowlitz County now has the capability of establishing rural communities
enterprise zone program under guidelines established by the Department
of Community, Trade, and Economic Development.
Projects of Statewide Significance Cowlitz County offers a program that expedites the development
of industrial projects of statewide significance.
Cowlitz County offers a variety of customized job training programs
for new and expanding businesses. Incentive: A qualifying business can expect, at a minimum, the following company specific training funding: For Capital Improvement Projects:
For Increases in Workforce: (all
of the above plus)
|
|
1452 Hudson Street, U.S. Bank Building,
Suite 208, P.O. Box 1278 , Longview, WA 98632 |