INCENTIVES FOR NEW AND EXPANDING RETAILERS

NEW RETAIL BUSINESSES LOCATED IN THE CITY OF JACKSON, ALABAMA

Basic Criteria:

1. Brick-and-mortar location
2. Employees must be physically employed in the Jackson location
3. Must have a projected annual retail gross taxable sales of $1.5 million or greater
4. The project must employ five or more full-time employees and have a minimum $500,000 capital investment, including property, building, equipment and renovation.

Incentives:

1. Qualifying projects will be considered for rebates of up to fifty percent (2% for retail; 2% for restaurants) to the property developer or retailer of future city sales tax receipts.  The number of years this incentive/rebate will be given will be dependent on the amount of initial capital investment, estimated yearly taxable retail sales, and the overall impact of the project to the Jackson market.
2. All projects will be subject to a project agreement, which will be implemented by a resolution approved by the Jackson Industrial Board and the Jackson City Council.
3. Any projects not meeting the full requirements of an approved project agreement each year shall forfeit their rebate.
4. The city will consider waiver of the building permit fee
5. City will consider waiver of water and sewer tap fees

Existing Retail Businesses wishing to expand in the City of Jackson

Basic Criteria:

1. Brick-and-mortar location
2. Employees must be employed in the Jackson location
3. The project must employ three or more additional employees with the expansion (at least two must be full-time positions)
4. Retailer must have been in business in Jackson for three or more years and have gross annual taxable sales of $500,000 or more as reflected in the previous twelve months reported sales to Jackson’s sales and use tax collection agent. The twelve-month reporting period will correspond with the City’s budget year. (October 1^st through September 30^th).  The number of years this incentive/rebate will be given will be dependent on the amount of initial capital investment, estimated yearly taxable retail sales, and the overall impact of the project on the Jackson market.
5. Businesses must meet the criteria as set out by the Resolution of the City Council each year to qualify for the incentives/rebate.