Tax & Incentives
Incentives For Success
Loudon County EDA Partners with the State of Tennessee and TVA to provide competitive opportunities to companies looking to located in Loudon. Incentives for all these programs are performance-based taking job creation, salaries for employees, and the capital expenditures a company invests within the community into consideration.
Loudon County strives to provide a foundation for companies to succeed in global markets by offering local incentives that appeal to the manufacturing sector. In Loudon County, one of the incentives typically offered for those who qualify is property tax abatements for Real and Personal property in the form of Payments in Lieu Of Taxes (“PILOT”).
Property Tax Rate (per / $100.00 assessed value)
- Loudon County: $1.5138
- Lenoir City: $1.3388
- City of Loudon: $1.0933
Grants & Tax Credits
We want to put your company on the road to success and provide momentum for future growth. Our state’s signature “FastTrack” program includes grants for infrastructure development, job training, and a discretionary fund for a variety of other expenses.
FastTrack Infrastructure Program
- Grants made to local communities for public infrastructure improvements
- Must be for specific infrastructure projects benefitting one or more companies committed to creating new jobs and/or making new capital investments
- Cover infrastructures such as rail, roadway, port, airport, site, water, sewer, gas and telecommunication improvements
- Require local matching funds based on a community’s ability to pay
FastTrack Job Training Assistance Program
Grant assisting new or expanding companies with funding to support the training of net new full-time employees.
FastTrack Economic Development Fund
- Provides additional grant support for companies expanding or locating in Tennessee with reimbursable grants made to local industrial development boards
- Aids companies in a variety of ways, including the relocation of equipment, temporary office space, capital improvements, retrofitting and other expenditures not previously covered by FastTrack infrastructure or job training grants
- Only used in exceptional cases where the impact of the company on a given community is significant.
Competitive tax incentives make Tennessee a smart choice for doing business. We have one of the country’s lowest per capita tax burdens, no income tax on wages, and no state property tax.
Tax credits include those based on the number of jobs created, amount invested, type of business and location. We also have credits for qualified industrial machinery purchases and a series of sales and use tax exemptions.
Tennessee Valley Authority
TVA offers a unique range of economic incentives that will benefit your project from start-up to long-term success in the Valley. Valley Incentive Programs consider both economic and power system metrics to create a profile of your company’s value to the region, and that, in turn, determines appropriate funding levels. TVA’s goal is to treat you like a VIP by demonstrating concrete benefits now and for multiple years into the future.