The Industrial Development Board for the City of White House has the authority to assess economic development incentives based on guidelines provided in Resolution 10-14.  These guidelines are detailed below.

Economic Incentive Guidelines

The Board has  adopted the guidelines set forth herein based on a Company’s investment, projected employment, and other factors as the Board may determine.  These are guidelines and not binding rules or requirements.  The Board can and should feel free to alter the Level assigned to any Project, or to increase or decrease the benefits within that level, in its sole and absolute discretion, based upon whatever subjective factors that it determines to be applicable, including, without limitation, whether the applicant is providing employment in an industry that the Board determines should be a priority or should not be a priority for the community, whether the project is in a growing or declining industry, whether the industry is environmentally sustainable or deleterious, whether the project is likely to enhance the image of the community, attract additional business,  is a site in a location that the community desires be redeveloped, is a brown field, or is otherwise particularly well suited or poorly suited for the prospective project, etc.  These guidelines are designed to attract new business to the City. In the case of an existing industry or business expansion, the number of jobs and capital expenditure requirement created is at the discretion of the Board of Directors.

Investment Report – The Company shall on or before June 30 of each year, beginning June 30 of the year following the commitment to the project, certify to the Board the amount of investment it has made in the real property and equipment comprising part of the project during the preceding 12 months (the “Annual Investment”). 

Guidelines -   Subject to the foregoing, the guidelines for granting tax abatements and payment in lieu of tax agreements are as follows:

Level 1  - Companies investing at least $500,000 and hiring at least 25 full time equivalent (FTE) employees:

Real Property:

Personal Property:

Level 2  - Companies investing at least $2,000,000 and hiring at least 50 full time equivalent (FTE) employees:

Real Property:

Personal Property:

Level 3  - Companies investing at least $5,000,000 and hiring at least 100 full time equivalent (FTE) employees:

Real Property:

Personal Property:

 * The Company may elect to make an in lieu of tax payment equal to the CIP ad valorem tax prior to placement of the applicable component of the Project in service, and make Year 1 the first year in which the full ad valorem tax would have been applicable thereto.

The Board  may request that the Company meet certain performance standards related to the amount of the capital investment and job creation in connection with the Project in order to continue the tax abatement (for example, the Company shall make at least 85% of the capital investment and create at least 85% of the indicated jobs in order to receive the requisite abatement, or else there will be a proportionate reduction in the incentive).  These performance criteria will be considered on a case by case basis. 

In the event that a leasehold estate with respect to any part of the Project (or any interest therein) which is owned by the Board and leased to the Company is ever subject to ad valorem taxation, the amount of any such ad valorem taxes shall be a credit against any in-lieu-of-tax payments due from said Company.

All in-lieu-of-tax payments for any year shall be due and payable to the Board on or before the last day of February of the next succeeding year.