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Jefferson County Business Incentives
Jefferson County communities work enthusiastically with new and expanding companies to create a higher standard of living for the Region's residents. Incentives are an investment in the future economic wellbeing of a company and as such a return on investment of jobs, tax revenue, community cooperation, and capital investment is expected. Incentives and a location decision must make good fiscal sense to all parties involved.
Our County, region, and state offer an array of incentive programs for new and expanding businesses, manufacturing companies and entrepreneurs. The incentives are designed to assist a wide selection of qualifying companies in various stages of their economic growth. JCEDC has compiled information about these incentives for which qualified companies may be eligible.
Tax Increment Financing
The TIF process involves issuing bonds to finance private and public investment in an area that is considered blighted and depressed. Local communities issue a bond and is allowed to pay it back with the increase in local property taxes that result from the improved status of the property. The assumption is that the redevelopment will provide new and added value, an increment, which can be used to pay back the bond which financed some of the site improvements. To find out more contact us today.
Jefferson County Revolving Loan Fund
Jefferson County manages a revolving loan fund that issues low-interest rate loans for companies to buy equipment and more. Download an overview of the loan program here. To download a copy of the application, click here or contact us today.
Municipal Revolving Loan Funds
Several Jefferson County municipalities also manage local revolving loan funds that issues low-interest rate loans for companies to expand. Click here to find out contact information for each community.
The Wisconsin Economic Development Corporation offers several incentives that fit the needs of your company looking to establish a new facility or expand. WEDC also provides financial assistance to Wisconsin companies, including Qualified New Business Ventures (QNBV), a program for angel and early stage investment. It also provides Technology Development Loans to facilitate research and development and commercialization of innovative technology products. There are also several tax credits and job creation funds available to eligible companies. For more information on their programs, including grants, loans, tax credits, and technical support, visit their website at http://inwisconsin.com/.
The Wisconsin Women’s Business Initiative Corporation (WWBIC)
WWBIC makes loans of up to $100,000 to small and micro businesses. Visit the WWBIC site.
State of Wisconsin Investment Board (SWIB)
SWIB provides business loans for Wisconsin companies seeking financing through the Wisconsin Private Debt Program. SWIB provides financing primarily to businesses headquartered in Wisconsin, operating in Wisconsin or intending to invest proceeds in Wisconsin. Visit the SWIB site.
USDA Rural Business Programs
The USDA provides for business credit needs in underserved rural areas, often in partnership with private sector lenders. They offer an assortment of loans and grants. Visit the USDA Rural Development site
State of Wisconsin Trust Fund Loan Program
This program is operated by the Board of Commissioners of Public Lands (BCPL) and is one of the largest public lending programs in the state. It offers loans for any public purpose project, including school repairs and improvements, local infrastructure projects including roads, town halls, airports, sewer systems and wastewater facilities, and local economic development through Tax Incremental Financing (TIF) districts and downtown revitalization projects.Visit the BCPL site .
SBA offers a variety of loan programs for very specific purposes. Take some time to study the programs described in this section, to see if you qualify to participate. To find out more about these programs visit their website at www.sba.gov.
Businesses that begin operating in Wisconsin, relocate to the state or expand an existing operation here are eligible Economic Development Tax Credits. Tax credits are allocated for the creation or the retention of full-time jobs, and are based on wage range of the jobs, number of jobs to be created or retained, capital investment made by the business and training costs for new or current employees. Click here to find out contact information.
In addition, Wisconsin offers historic tax credits for the renovation of historic properties. Click here to find out contact information on this program.
Finally, Wisconsin offers a Manufacturing and Agriculture Credit. This tax
Wisconsin provides Training Grants to assist businesses in
Favorable Tax Rates
As our regional partner in Madison (MadREP) says, "Wisconsin is open for business. Important tax and regulatory reforms have been implemented in the state, and more are underway to allow Wisconsin to be a competitive place to do business." Businesses are subject to a flat rate of 7.9% tax on income. Total sales tax in Jefferson County is around 5.5%, which is below the national median of 5.95%. Individual income tax rates vary from 4% to 7.65%. More information can be found here.