Business Incentives in Davidson County
We collaborate with our major 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.
For Small Businesses
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 $36,624 annually (80% of the mean wage for the Nashville MSA, which is $45,780). $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.
If you would like to apply for small business and blighted property incentives, please fill out the Application for Incentives form.
Overview of Metro Small Business Incentives
Funding for Improvements to Historic Buildings in Commercial Use (Applications Open)
Metro Nashville has allocated $150,000 of its budget for Fiscal Year 2017-2018 for the purpose of offering matching grants in order to preserve Nashville's cultural draw, enhancing the uniqueness and the vibrancy of its neighborhoods; for historic structures within Tier-1 census tracts within Davidson County. Determine if your property is eligible . Only commercial, non-residential, construction/rehabilitation projects are eligible for such funding. Funding is only applicable to exterior work on historic properties (roofs, windows, masonry, siding, etc.)
The amount of the grant shall not exceed fifty percent of the documented investment of the developer up to a maximum grant amount of $50,000, and a minimum amount of $5,000.
Request for Proposals: Nashville Funding For Improvements to Historic Buildings in Commercial Use
For Large Businesses
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 PILOTs since 2011 including AIG, American Standard, AmSurg, Asurion, Bridgestone.
For more information about the PILOT program contact Matt Wiltshire.
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 IDB have approved seven cash grants including Asurion , Bridgestone, Dell, HCA, Parallon/Sarah Cannon, UBS
For more information about cash grants contact Matt Wiltshire.
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. TIF 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.
TIF was utilized for the Bellevue Mall Redevelopment. For more information contact Matt Wiltshire.
Fast Track Permitting & 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 Matt Wiltshire.