Incentives for Businesses
El Dorado, Arkansas
Union County, Arkansas
El Dorado, Arkansas
Union County, Arkansas
Find out more information about sales tax, property tax and millage rates here.
Opportunity Zones are an economic development tool that allows people to invest in certain areas in the United States.
The Community will develop and adopt an Act 9 Bond Issue to assist the Company in financing the project. The Act 9 Bond Issue will be to address property tax abatement. The local millage rate for the proposed location is 40.5 mills. For example, if the company invested $445 million, normal property taxes associated with the project are estimated at $ $336,100 per year. The Act 9 Bond Issue would reduce that amount to $117,635 per year. Assuming the Bond term is 20 years, the total benefit to the prospect would be $2,352,700.
The El Dorado-Union County Chamber of Commerce will work very closely with the Prospect in developing and managing a positive relationship with local citizens. The Chamber of Commerce has a very good working relationship with the media and local elected officials throughout the area. The positive impact of the project on the community will bring strong support from all sectors of the region.
Kaitlyn Rigdon
Economic Development Project Manager
El Dorado-Union County Chamber of Commerce
(870) 863-6113 office
kaitlyn@goeldorado.com
As a business-friendly state, Arkansas offers a range of competitive incentives for businesses looking to open, expand or relocate. From cash rebates to community grants, Arkansas’ business incentives encourage job creation and investment. https://www.arkansasedc.com/why-arkansas/business-climate/incentives
