While highly publicized and touted, tax credits and other incentives have a reputation of being difficult to obtain. Incentives are generally specific and designed to attract certain types of businesses. Being aware of the different types of available credits goes a long way in being able to take advantage of them. Credits and incentives can be grouped into five categories: Job creation/retention, worker training, capital investment, research and development, and sustainability initiatives.
Operating in local and global competitive markets, businesses need every advantage they can get, and state and local governments know that business growth and retention are crucial to their local economy. Identifying relevant incentives, including credits, grants and subsidies, can be the solution to keeping costs down and a business moving forward.
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