New Markets Tax Credit (NMTC) rewards investors for supporting our community. The NMTC allows both individual and corporate investors to receive a substantial tax credit against federal income tax obligations in exchange for making equity investments in Community Development Entities (CDEs), which provide capital to designated areas of Monroe County. The credit totals 39 percent of the original investment amount and is claimed over a period of seven years (five percent for each of the first three years and six percent for each of the remaining four years).
Foreign Trade Zone (FTZ) assures global industry of maximum ease and cost-effectiveness in the flow of goods and materials, which is why Monroe County is ready to provide a sub-zone for companies that require it. The FTZ allows your operation to:
- Reduce, defer or eliminate duties: Drive down costs of component parts, exported goods and material that is scrapped, wasted or consumed in the manufacturing process. Companies can also eliminate duties on sales to the U.S. Department of Defense and government entities such as NASA.
- Slash paperwork and processing costs: Eliminate weekly entry fees.
- Make efficient zone-to-zone transfers.