State Incentives


State Incentives – The Arizona Commerce Authority

The State of Arizona offers a wide variety of economic incentive programs to promote and encourage high-wage job growth and capital investment. The Arizona Commerce Authority (ACA) is the central source of information for Arizona’s business incentives. For more information on any of the incentives listed below, please contact the Arizona Commerce Authority.

ANGEL INVESTMENT
An investor may obtain an income tax credit of up to 35% for investing in a qualified small business. Companies are encouraged to learn more about becoming certified by ACA.

ARIZONA INNOVATION ACCELERATOR FUND
$18.2 million loan participation program to stimulate financing to small businesses and manufacturers, in collaboration with private finance partners, to foster business expansion and job creation in Arizona.

ARIZONA INNOVATION CHALLENGE
The Arizona Innovation Challenge is an investment in the minds of talented entrepreneurs in Arizona and around the world. The ACA will award $1.5 million to the most promising technology ventures that participate in the Challenge (awards may range from $100,000 to $250,000).

AZ FAST GRANT
Enables Arizona-based technology companies to initiate the commercialization process. The grant will pay up to $7,500 to provide one or more of select professional consulting services.

AZ STEP GRANT
Grant funding from the U.S. Small Business Administration (SBA) with matching funds contributed by the Arizona Commerce Authority (ACA), offering a number of services and tools to Arizona small businesses as they go global for the first time with sales or enter new, international markets.

COMMERCIAL/INDUSTRIAL SOLAR
Businesses installing a solar energy device at an Arizona facility may be eligible for an income tax credit of up to $50,000 per tax year.

JOB TRAINING
Provides reimbursable grants to employers that implement job‐specific training plans for new jobs or training plans that increase the skill level of current employees.

MILITARY REUSE ZONE
Companies located in a zone can benefit from a Transaction Privilege Tax Exemption, Tax Credit for net new jobs, and Property Tax Reduction.

QUALITY JOBS
Can provide income tax credits of up to $9,000 for each new quality job created.

RENEWABLE ENERGY TAX INCENTIVE
Companies engaged in the solar, wind, geothermal, and other renewable energy industries may obtain up to a 10% refundable income tax credit and up to a 75% reduction on real and personal property taxes.

QUALIFIED FACILITY
Offers a refundable income tax credit equal to the lesser of:

  • 10% of the qualifying capital investment, or
  • $20,000 per net new job at the facility.

RESEARCH AND DEVELOPMENT
Refundable income tax credits are available for investments in research and development activities conducted in Arizona. The tax credit starts at 22% of the qualified R&D expenses for amounts in excess of expenditures from the previous year. Recent legislation enhances the tax credit amount up to 34% if increased R&D expenditures are made in conjunction with an Arizona public university.

POLLUTION CONTROL TAX CREDIT
This tax credit is administered by the Arizona Department of Revenue (AZDOR). The credit provides a 10% income tax credit on the purchase price of real or personal property used to control or prevent pollution.

ADDITIONAL DEPRECIATION (FORMERLY: ACCELERATED DEPRECIATION)
Provides an additional depreciation schedule to encourage new capital investment by reducing personal property tax liability. The additional depreciation schedule is applied to the first five years of the property assessment and accelerates depreciation by five percentage points per year for five years. In year one, the additional rate is 30%; in year two, 46%; in year three, 62%, in year four, 78%; and in year five, 94% of the scheduled depreciated value. After the fifth year, taxable value continues to be determined using Arizona Department of Revenue (ADOR) schedules. The additional depreciation schedule is based on ADOR replacement cost new less straight-line depreciation schedules. This program applies to class 1 (commercial and industrial) personal property and class 2 (agricultural) personal property.

GOVERNMENT PROPERTY LEASE EXCISE TAX PROGRAM (GPLET)
This program has been established by the State of Arizona and is available to businesses that lease parcels from a municipality rather than own them outright. All real property tax has been waived and replaced with an excise tax that is an established rate per square foot and based upon the type of use. The rate is reduced every ten years by 20% until it reaches the 51st year, when the tax drops to zero. In some redevelopment districts, the excise tax can be abated for the first eight years after the certificate of occupancy. If a municipality is a property owner, this creates a huge incentive for a company to occupy the facility, or allows them the cash flow to perform improvements. Any business or entity occupying a facility on property owned by the municipality (the building may be owned by the private entity, but land on which it sits must be leased from a city). The program typically is used to spur development and redevelopment in downtown areas.

REVOLVING ENERGY LOANS FOR ARIZONA (RELA)
This program provides low interest (3-5%) loans of up to $500,000 for the acquisition and installation of energy-saving equipment and fixtures. Loan terms of up to seven years are available, depending on the rate of energy savings.

FLORENCE INDUSTRIAL DEVELOPMENT AUTHORITY (IDA)
The Florence IDA promotes and encourages economic growth and job creation by making low-interest loans available to qualified projects through the issuance of tax-exempt bonds. Financing must meet all state and local bond law requirements, and all projects are reviewed by the IDA to ensure that financing candidates represent projects that will help further economic progress. For further details about the IDA and bonding programs, please contact Scott Bowles, Economic Development Coordinator, at 520-868-7549.

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