Who Should Apply
The Two Rivers Development Zone has something to offer businesses planning
a major improvement or expansion. Your application
for development zone tax credits will be processed quickly. The program is designed to
help:
- Improve Services
- Eliminate obstacles to business expansion and development
- Expand employment opportunities and retain existing jobs to
ensure the best possible economic future for the community
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Eligibility
You are eligible for a variety of income tax credits if your company
expands in the Two Rivers Development Zone. The amount of credit you
receive depends on the number of new jobs created and the level of
environmental remediation required.
Wisconsin has allocated millions in tax incentives for this zone. All
tax credits are non-refundable and can be carried forward up to 15 years
to
offset your income tax liability.
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Targeted Jobs Tax Credit
This non-refundable tax credit is worth up to $8,000 for each newly created
position for target group members. Examples of target members include W-2
participants and persons unemployed due to layoffs or business closings. A
non-refundable tax credit of up to $6,000 for each newly created position
filled by other Wisconsin residents is also available.
After listing your job openings with Job Service, immediate contact is
made with cooperating employment and training agencies. These agencies
will seek eligible and qualified applicants and refer them to you. Depending on the person
you hire, additional services
may also be available beyond the state tax credit.
Employers who hire target group members may also qualify for federal
jobs tax credits.
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Workforce
Opportunities
A major strength of the Development Zone Program is the jobs tax credit.
Two Rivers will use 100% of its available tax benefits for the jobs tax
credit provided no environmental remediation credit is used.
A stable and highly productive workforce of more than 40,000 people can
be drawn from a 20-mile radius. This skilled workforce offers a variety of
manufacturing, office and retail experience.
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Environmental Remediation Credit
A 50% non-refundable tax credit is available on cleanup efforts in the
development zone. This includes brown field remediation work.
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How to Apply
Contact us and we'll help you apply for certification through the
Wisconsin Department of Commerce.
The Wisconsin Dept. of Commerce makes the final decision on the
certification request and level of benefits based on our recommendation.
Credits are not available to businesses that displace current
employees. A waiver may be granted for an intrastate business relocation
under extraordinary circumstances.
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