Taxes & Incentives
A Business-Friendly County
Find the support you need in Blount County. With local and state taxes and incentives available, we strive to help companies locating or expanding here to save money and invest in their growth.
Tax Incentives
PILOT (Payment in lieu of Tax) is a program utilized by companies to help ease large capital investments into the local tax structure. PILOTs are awarded on a case by case basis. The guidelines for the program are:
- A company must invest at least 50 million dollars in real and personal property.
- The company must hire at least 80 new employees.
- The program will expire after a maximum of 5 years.
Blount County Training Grant
The program’s purpose is to help aid in the training and infrastructure needs of companies who desire to hire the local labor force. The grants are evaluated and awarded on a case by case issue. The grant amount is determined by the amount of the company’s capital investment in real and personal, the average wage of the company, and the skill level and infrastructure needs.
Land Equity Incentive
This incentive is available for companies who wish to purchase property within our Industrial and Technology parks. This incentive is determined on a case by case basis. Companies are evaluated by the amount of capital investment, average wage, and the amount of local employees hired. The Board will lower the cost of the property to the prospect respective of the company’s investment.
Site Development
This incentive is available for companies who wish to purchase property within our Industrial and Technology parks. This incentive is determined on a case by case basis. Companies are evaluated by the amount of capital investment, average wage, and the amount of local employees hired. The Board will excavate the site and prepare the drainage area.
Promoting Trade and Investment
The Foreign Trade Zone (FTZ) is federally designated site within the United States that has the special legal status of not being within U.S. Customs territory. Thus imported products and components may be brought into the zone without the payment of import duties. FTZs provide a competitive advantage for companies involved in international trade. The Greater Knoxville FTZ has five activated general purpose sites that are available for monthly lease.
Regional and State Incentives
The State of Tennessee and TVA both offer economic incentives to help businesses succeed. TVA’s goal is to help businesses obtain the financial assistance necessary to locate in the TVA region. The State of Tennessee offers flexible incentives and grants designed to help businesses lower costs and minimize risk.