Business incentives

Rice County provides the following economic development incentives, and is committed to meeting the financial and tax needs of our business partners. This includes finding creative solutions to financial needs, helping to identify resources and understanding the role of tax incentives in determining business location and growth needs.

Revolving loan policy
To stimulate private sector investment in facilities and equipment in order to create/retain jobs for local residents and to upgrade facilities to maintain competitiveness and/or boost productivity; and provide affordable loans for expansion and/or rehabilitation of commercial and industrial buildings in order to maintain the commercial and industrial viability of Rice County and its communities.
Tax abatement policy
Tax abatement is one technique to encourage private development projects by allowing the rebate of property taxes to the owner, reallocating the taxes to pay for public infrastructure costs or deferring the property taxes and rebating the interest penalty.
Business subsidy policy
  • Creates additional job opportunities within the county.
  • Enhances the economic diversity of the county and provide essential products and services within the county
  • Enhances economic growth in the county.
  • Redevelops blighted or underutilized areas of the county.
  • Retains local jobs in the county, where job loss is specific and demonstrable.    
Business Subsidy Policy