PAYMENT-IN-LIEU-OF-TAX PILOT
The PILOT program provides a financial incentive to qualifying industries by freezing property tax assessments for a designated term. An applicant’s project is evaluated and scored based on new job creation, wages, capital investment and location. Formal approval for all PILOT applications are determined by the Collierville Industrial Development Board at regularly scheduled meetings.

TENNESSEE INDUSTRIAL INFRASTRUCTURE PROGRAM
The Tennessee Industrial Infrastructure Program (TIIP) is one of the State’s incentive programs. The program offers direct grants up to $750,000 for industries to cover costs associated with improving public infrastructure. Industrial infrastructure funding may not be used to support the relocation of a business within the state or for speculative projects. The City of Memphis or Shelby County acts as the applicant on behalf of the company seeking the grant with the Office of Economic Development preparing and implementing the TIIP funds.

INDUSTRIAL TRAINING SERVICE
The Industrial Training Service (I.T.S.) provides custom start-up training to new and expanding industries to enable them to obtain maximum production in a minimum amount of time. The services provided by I.T.S. are determined by the number of new hires and the knowledge and skills which must be possessed by the prospective or newly hired worker. The Industrial Training Service is a quick start program that is able to assist you with few constraints, and prides itself on delivering what training assistance the industry needs.

JOBS TAX CREDIT PROGRAM
The Jobs Tax Credit Program, recently enacted by the Tennessee General Assembly, offers an economic advantage to companies that locate or expand their business operations in Tennessee. This tax incentive plan gives a credit against the franchise tax. The franchise tax rate (25 cents per $100.00) is applied to the corporation's net worth or the book value of real and tangible personal property used in Tennessee.

Qualified business enterprises are eligible for a credit of $2,000 for each new full-time job created in Tennessee. To qualify, the corporation must make a capital investment of at least $500,000 and create 25 or more jobs in this state. The credit is applied to the net increase in the franchise and excise tax directly related to the infusion of the required capital investment in Tennessee. Any credit not used during the fiscal year may be carried forward fifteen (15) years.

INDUSTRIAL REVENUE BONDS
The Collierville Industrial Development Board is authorized to issue bonds for financing industrial facilities. Industrial development bonds at the 10 percent minimum tax are available for manufacturing operations. Taxable bonds can be issued for distribution facilities or other projects that are ineligible for the minimum tax financing. The strength of the company being financed at the time the bonds are taken to market will determine the rate of the bonds. There is a $10 million cap on small issue bonds; however, there are a number of categories of projects or project components that may be exempted from this limitation. Due to federal tax regulations associated with revenue bonds, it is important to research your options through consultation with a bond counsel. It is also important to obtain the backing of the bonds by a letter of credit from a strong financial institution. The Board is prepared to act on an application several weeks after it is submitted.

THE GREATER MEMPHIS AREA WORKFORCE DEVELOPMENT AGENCY
The Workforce Investment Network (WIN), is the administrative entity for the Workforce Investment Act of 1998 in LWIA 13. As part of the one stop delivery system, the agency provides access to a number of employment and training related services designed to meet the needs of both employers and job seekers. These services are offered to adults, dislocated workers and youth in partnership with a number of other partners in the Career Center System.

ONE-STOP-SHOP ASSISTANCE
One-Stop-Shops are efficient ways to promote resource management and assist in conflict resolution relative to a client’s project. The program is designed to address specific project-related concerns by pooling informational resources in an arranged meeting of the appropriate public or quasi-public representatives. Many different types of issues may be covered including codes, taxation, incentives, utilities, permitting, training and human resources to name just a few. Confidential matters may also be accomplished under this format.

FAST TRACK PERMITTING
The Collierville Planning Department offers a “Fast Track” program that can cut red tape or delays occasionally associated with construction permitting. Through this program, the plans review process is expedited and coordinated with design and construction personnel making the entire approval process more efficient.