Humboldt, TN Incentives

The City of Humboldt is a great place to build and grow your business.  For more information about Humboldt's attractive business incentives, contact the Humboldt Chamber of Commerce.

Retail Incentives

Jump-Start Initiative

As part of the Humboldt's Jump-Start Initiative, the Humboldt Chamber of Commerce offers the following economic incentives for new businesses.

• Revitalization loans--3 1/2% interest rate for up to 10 years
• First 6 months of Chamber dues at no cost
• "Levelized Billing" from Humboldt Utilities
• Rent concessions (3-6 months)
• Free business counseling from a professional at the Tennessee Small Business Development Center
• PILOT (Payment in Lieu of Taxes)--Payment in lieu of taxes (often abbreviated as PILOT or PILT) is a program where a municipality receives a payment in lieu of property or sales tax revenue, either from a nonprofit organization or from another government entity that owns a real asset, such as land, or a valuable right-of-way.

Industrial Incentives

Incentivized Tax Structure

With one of the nation’s lowest per capita tax burdens, Humboldt is one of the best places in the country to locate your industry.  The primary business taxes in Humboldt are the franchise tax and the excise tax (F&E).

Job Tax Credit

In Humboldt, Tennessee, “qualified business enterprises” are allowed a credit against their franchise and excise taxes based on their capital investment and the number of jobs created. The amount of the credit and the period of time during which it can be used varies according to the size of the investment.

Industrial Machinery Tax Credit

For capital investments in industrial machinery, Tennessee offers businesses an Industrial Machinery Tax Credit that may be used to offset up to 50% of the company’s F&E tax liability. To qualify for this credit, companies are not required to create new jobs. The credit applies to the purchase, installation and repair of industrial machinery as defined in T.C.A. 67-6-102. The credit also applies to the purchase and installation of computers, computer software and certain peripheral devices purchased in order to meet the capital investment thresholds of the Job Tax Credit.

Headquarters Tax Incentives

In order to encourage companies to locate and expand their regional, national or international corporate headquarters in Tennessee, the State offers a suite of enhanced tax credits to companies that establish or expand a qualified headquarters facility. A “qualified headquarters facility” means a regional, national or international headquarters facility where the taxpayer has:

• Made a minimum investment of $50 million in a headquarters building or buildings, newly constructed, expanded or remodeled during the investment period;
• Made a minimum investment of $10 million in a headquarters facility and created 100 new full-time jobs paying at least 150% of Tennessee’s average occupational wage during the investment period, or;
• Located its headquarters facility in a Central Business District or Economic Recovery Zone and received approval from the Commissioner of Revenue as a “qualified headquarters facility.”

Other Incentives

State of Tennessee Resources

State of Tennessee "Smart Start" Business Guide