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Arkansas

Arkansas

Incentives/Policies for Renewables & Efficiency

Printable Version
Wind Energy Manufacturing Tax Incentive   

Last DSIRE Review: 02/05/2013
Program Overview:
State: Arkansas
Incentive Type: Industry Recruitment/Support
Eligible Renewable/Other Technologies: Wind
Applicable Sectors: Commercial, Industrial
Amount:Varies, depending on amount invested and other factors
Maximum Incentive:Up to 100% income tax exemption
Start Date:1/1/2008
Expiration Date:12/31/2033
Authority 1:
Date Enacted:
Date Effective:
Expiration Date:
Arkansas Code ยง 26-51-311 et seq.
4/1/2009
1/1/2008
12/31/2033
Summary:

With the passage of HB 2230 (2009) in April 2009, the Arkansas Legislature expanded a tax incentive for manufacturers of windmill blades or components. A full income tax exemption is available for business that meet certain criteria, including locating in the state before December 31, 2007. Businesses that locate in the state after January 1, 2008 are eligible for a partial income tax abatement. Businesses taking advantage of these tax incentives must demonstrate significant investment and job creation in order to receive the tax incentive.

To be eligible for the full income tax exemption, a business must invest at least $150,000,000 and hire 1,000 new employees within six years. To be eligible for the partial income tax abatement, a business must demonstrate investment, job creation, and must pay certain wages. The actual income tax abatement is determined by the extent to which a business meets these criteria. Eligible businesses sign an agreement with the Arkansas Economic Development Commission.


 
Contact:
  JD Lowery
Arkansas Department of Economic Development
Arkansas Energy Office
900 W. Capitol, Suite 400
Little Rock, AR 72201
Phone: (501) 682-7678
Fax: (501) 682-7499
E-Mail: jlowery@arkansasedc.com
Web Site: http://www.arkansasenergy.org
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Disclaimer: The information presented on the DSIRE web site provides an unofficial overview of financial incentives and other policies. It does not constitute professional tax advice or other professional financial guidance, and it should not be used as the only source of information when making purchasing decisions, investment decisions or tax decisions, or when executing other binding agreements. Please refer to the individual contact provided below each summary to verify that a specific financial incentive or other policy applies to your project.

While the DSIRE staff strives to provide the best information possible, the DSIRE staff, the N.C. Solar Center, N.C. State University and the Interstate Renewable Energy Council, Inc. make no representations or warranties, either express or implied, concerning the accuracy, completeness, reliability or suitability of the information. The DSIRE staff, the N.C. Solar Center, N.C. State University and the Interstate Renewable Energy Council, Inc. disclaim all liability of any kind arising out of your use or misuse of the information contained or referenced on DSIRE Web pages.

Copyright 2013 - 2014 North Carolina State University, under NREL Subcontract No. XEU-0-99515-01. Permission granted only for personal or educational use, or for use by or on behalf of the U.S. government. North Carolina State University prohibits the unauthorized display, reproduction, sale, and/or distribution of all or portions of the content of the Database of State Incentives for Renewables and Efficiency (DSIRE) without prior, written consent.