Jonesboro is a pro-business community with an array of local incentives that will help secure your investment in our community. For assistance with your custom incentive proposal, please contact us at (870) 336-9064 or Email Mark Young.
The following highlights job and investment incentives provided by Jonesboro Unlimited and our supporting partners. Additional incentives may be available to qualifying companies through various economic development entities.
Jonesboro Unlimited, and its economic development partners, have a history of creating cost-effective partnerships with companies locating in our county and we are invested in advocating the growth of our economic base. Historically, based on the number of jobs created, payroll, and investment amount, the acreage required for a project may be provided at a reduced cost to the company.
- PAYMENT IN LIEU OF TAXES AGREEMENT (PILOT)
Industrial Revenue Bonds (IRBs) provide manufacturers with competitive financing. If taxable, or non-taxable, municipal IRBs are used for construction or financing of land, building, or equipment, a Payment in Lieu of Taxes Agreement (PILOT) will be executed. State law requires that the agreement provide at least 35% of the regular annual tax rate until the bonds are retired.
The Workforce Training Consortium (WTC) is Jonesboro, Arkansas’ solution to skills training for industry. The WTC is an employer driven training center providing a broad range of training and education programs directed at the common needs of its membership. Training classes are offered at $8.00 per contact hour per student, or offered for only the cost of the books and materials. Available training includes: customized customer-specific training done on-site; basic computer literacy training and computer courses; advanced manufacturing/maintenance training program; safety (OSHA regulations), forklift and health courses; leadership and supervision series; communications and customer service classes; continuous improvement and quality control instruction; lean manufacturing courses; APICS certification (supply chain management) and other professional development classes; visible emissions training; mechanical aptitude assessment and many others.
- INFRASTRUCTURE AND UTILITIES
Jonesboro City Water & Light has an average industrial electric rate of 4.67 cents/kWH (2020). City Water & Light has a long-term partnership with Jonesboro’s business community in providing assistance on ways to operate more efficiently. They are willing to meet with the company at any time to discuss.
Jonesboro Unlimited will work with your company to ensure the appropriate infrastructure will meet and exceed your needs.
- LOCAL PARTICIPATION IN ARKANSAS’ TAX BACK PROGRAM
Should a company qualify for the State of Arkansas’ Tax Back Program, the City of Jonesboro and Craighead County will participate in refunding the 2.5 percent local tax, per the guidelines of the state Tax Back program.
Jonesboro Unlimited and the Jonesboro Regional Chamber of Commerce offer to bring a team to your company to brief transferring employees on the benefits of living in Jonesboro.
- EXISTING INDUSTRIES ASSOCIATION
The Existing Industries Association is a forum for Jonesboro, Arkansas area manufacturing representatives that provides a forum for networking, sharing best practices, and discussing trends and new developments in industry and the economy. The group meets periodically throughout the year for a “Tour & Topic” program that includes a tour and lunch at a host facility, and a round table discussion of a relevant subject.