Business Incentives in Davidson County
We collaborate with our partners Nashville Area Chamber of Commerce, Tennessee Department of Economic and Community Development, the Tennessee Valley Authority, and the Industrial Development Board to provide a competitive incentives for businesses looking to relocate or expand within Davidson County.
Fast Growing Business Employment Incentive
Companies with fewer than 100 employees that add 10 or more jobs* in a 12 month period are eligible for a one-time $500 per job grant ($750 for Veterans). *The job must pay more than $38,688 annually (80% of the mean wage for the Nashville Metropolitan Statistical Area (MSA), which is $48,360). $50,000 is the maximum grant per company.
Property Investment Incentive
For constructing or rehabilitating the exterior portions of commercial property located in Tier-1 census tracts with an existing property value less than million dollars ($1,000,000) at the time the grant application is made. Grant is for 50% of the investment in the improvements up to a $50,000 cap with a minimum $10,000 investment by the owner. Determine if your property is eligible for an incentive.
If you would like to apply for either incentive please fill out the Application for Incentives form.
Payment in Lieu of Taxes (PILOT)
Projects involving a large capital investment and large numbers of new jobs may qualify for a property tax freeze or reduction (property in lieu of tax agreement). These requests are considered on a case-by-case basis and are based on an analysis of job creation, economic impact, capital investment and wage rates.
Metro Council and the Industrial Development Board has approved 14 of these payments since 2011 including AIG, American Standard, AmSurg, Asurion, Bridgestone.
For more information about the PILOT program contact Audra.email@example.com.
In some cases, cash grants may be available to companies moving to Nashville. Cash grants may be provided for significant corporate headquarters or technology firm relocation. The firm must add 500 or more jobs in Nashville during the first five years of operation. Nashville may pay a company up to $500.00 per job over a set period of time.
Metro Council and the Industrial Development Board have approved seven cash grants including Asurion, Bridgestone, Dell, HCA, Parallon/Sarah Cannon, UBS
For more information about cash grants contact Audra.Ladd@nashville.gov
Tax Increment Financing
Tax Increment Financing (TIF) allows the cost of infrastructure and the costs of assembly, relocation, demolition and development of a site within a designated redevelopment district to be financed through future increases in property taxes generated by the development itself. As private investments add to the tax base, the increased revenues are placed in a special fund with the revenues then funneled back into the project. These funds can amount to a substantial reduction in overall project development costs and can make available for reinvestment approximately 10 percent of an eligible project's total development costs.
Tax Increment Financing was utilized for the Bellevue Mall Redevelopment. For more information contact Audra.Ladd@nashville.gov.
Fast Track Permitting and One-Stop Business Assistance
The Mayor's Office of Economic Development was created specifically to assist new and existing companies in their interaction with local, state and federal governmental agencies. The One-Stop Business Assistance Program provides a streamlined structure to access representatives of all applicable local, state and federal agencies in one meeting to outline services, answer questions, fulfill requests and solve problems. The One-Stop Business Assistance Program is designed to facilitate and expedite the permitting, licensing and regulatory processes within the Metropolitan Government. For more information contact Audra.Ladd@nashville.gov.