Incentives & Programs
Fueling Growth in Fayette County
Local Incentives
PILOT Program
Fayette County’s PILOT (Payment-In-Lieu-of-Tax) Program, administered by the Industrial Development Board, provides tax abatements to incentivize economic development. This program supports job creation, capital investment, and industrial growth by reducing property taxes for eligible businesses. Companies benefit from customized agreements that align with community goals, including infrastructure expansion and workforce development, making Fayette County an attractive location for new and expanding businesses. For more details, explore the application process and eligibility criteria.
Foreign Trade Zone 283
Foreign Trade Zone 283 in Fayette County, Tennessee, offers businesses access to duty-free imports, deferral of customs duties, and other cost-saving benefits for international trade. Located strategically near major transportation hubs, it simplifies global operations by reducing logistics costs and streamlining customs processes. This designation makes Fayette County an attractive location for businesses engaged in global commerce.
State Incentives
Tier 1 Benefits for Companies
Fayette County’s Tier 1 designation offers businesses access to tax incentives, workforce training grants, and infrastructure support to reduce costs and encourage growth. With a low-tax environment and a strategic location near major markets, the county provides an ideal setting for companies to expand and succeed.
Grants
Fayette County benefits from the state’s competitive tax environment, making it an excellent choice for businesses. With no income tax, no state property tax, and one of the lowest per capita tax burdens in the country, the county offers a cost-effective location for growth. Businesses can access tax credits for job creation, capital investment, and specific business types or locations, along with incentives for industrial machinery purchases and sales and use tax exemptions, all designed to reduce costs and promote economic development.
Tax Credits
Fayette County, Tennessee, offers businesses access to the state’s competitive tax incentives, making it an ideal location for growth and investment. With no income tax, no state property tax, and one of the lowest per capita tax burdens in the nation, Fayette County provides a business-friendly environment. Companies can benefit from tax credits for job creation, capital investment, and location, along with incentives for qualified industrial machinery purchases and sales and use tax exemptions, helping to reduce costs and drive economic success.
