Commercial projects locating in downtown Johnson City could qualify for the Downtown Johnson City Redevelopment Loan Program, which could provide: a low-interest loan to be applied toward the down payment and/or closing costs for an existing or new business within the Downtown Johnson City Redevelopment District, a loan for renovation costs above the bank loan, or a micro loan for renovation of buildings and financing for equipment loans. To read more about the Downtown Johnson City Redevelopment Loan Program, click here, or to download a brochure about the program, click here.
A Tax Increment Financing (TIF) district exists around downtown Johnson City that is established to provide a public financing method used for redevelopment and community improvement projects. Commercial projects locating in downtown Johnson City could be eligible for TIF funds, if approved by the TIF Advisory Board. For more information about TIF, please contact us.
A Façade Grant Program was established by the Washington County Economic Development Council in July 2013, in which eligible building owners can apply for 50 percent matching funds up to $5000 per storefront, as well as an additional $2500 for multiple-faced buildings. The policy allows for larger grant amounts if a proposal shows substantial economic impact, including job creation and sales tax generation downtown. For more information about the Façade Grant Program, please contact us.
Commercial companies locating in the Downtown Johnson City Historic District could be available for several tax credits through the Federal Historic Preservation Tax Incentives program. For more information, visit the National Park Service’s website here.
The Tennessee Valley Authority offers two incentive programs for commercial businesses. The Commercial Efficiency Advice and Incentives Program (CEAI) offers various facility energy assessments to advise commercial customers on making smart and informed energy-saving investment decisions. Projects that help reduce power use during TVA’s peak periods may also be eligible for financial assistance. For more information on the CEAI program, click here. Eligible commercial businesses with at least 25 employees and an average monthly demand of greater than 250 kilowatts could be eligible for TVA’s Deposit Assurance Program, which allows the waiver of electric utility deposits to qualifying customers for a limited term. For more information about the Deposit Assurance Program, visit TVA’s website here.
Companies hiring an ex-felon within one year from conviction or release from incarceration could be available for Work Opportunity Tax Credits. For more information, click here.