Wind Energy Manufacturing Tax Incentive (Arkansas)

From Open Energy Information

Summary

Last modified on February 12, 2015.

Financial Incentive Program

Place Arkansas


Name Wind Energy Manufacturing Tax Incentive
Incentive Type Industry Recruitment/Support
Applicable Sector Commercial, Industrial
Eligible Technologies Wind
Active Incentive Yes
Implementing Sector State/Territory
Energy Category Renewable Energy Incentive Programs
Amount Varies, depending on amount invested and other factors




Start Date 2008-01-01
Expiration Date 2033-12-31




Maximum Incentive Up to 100% income tax exemption






Program Administrator Arkansas Economic Development Commission


References DSIREDatabase of State Incentives for Renewables and Efficiency[1]


Summary

With the passage of HB 2230 (2009) in April 2009, the Arkansas Legislature expanded a tax incentive for manufacturers of windmill blades or components. A full income tax exemption is available for business that meet certain criteria, including locating in the state before December 31, 2007. Businesses that locate in the state after January 1, 2008 are eligible for a partial income tax abatement. Businesses taking advantage of these tax incentives must demonstrate significant investment and job creation in order to receive the tax incentive.

To be eligible for the full income tax exemption, a business must invest at least $150,000,000 and hire 1,000 new employees within six years. To be eligible for the partial income tax abatement, a business must demonstrate investment, job creation, and must pay certain wages. The actual income tax abatement is determined by the extent to which a business meets these criteria. Eligible businesses sign an agreement with the Arkansas Economic Development Commission.

<metadesc> Wind Energy Manufacturing Tax Incentive: energy incentive program. </metadesc>

Incentive Contact

Contact Name JD Lowery
Department Arkansas Department of Economic Development
Division Arkansas Energy Office
Address 900 W. Capitol, Suite 400
Place Little Rock, Arkansas
Zip/Postal Code 72201
Phone (501) 682-7678


Email jlowery@arkansasedc.com
Website http://www.arkansasenergy.org



Authorities (Please contact the if there are any file problems.)

Authority 1: Arkansas Code § 26-51-311 et seq.
Date Effective 2008-01-01
Date Enacted 2009-04-01
Expiration Date 2033-12-31

















  • Incentive and policy data are reviewed and approved by the N.C. Solar Center's DSIRE project staff.[1]

References

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