Incentives
Incentives are available for businesses in Mason County. The EDC is a one-stop-shop for information on grants, tax credits, workforce programs, available bonds and funding sources. View the list below to get an idea of what is available and then contact us to discuss programs in further detail.
Supported by the Washington State Department of Commerce, the Fund helps small businesses and nonprofits access the financial support they need to thrive.
Learn MoreFunding is available for qualifying public facilities improvements. This is a special program directed by Mason County. This fund is only available to rural communities in Washington State. Mason County can provide public infrastructure improvements through this fund.
Learn MoreWhen access roads and rail lines, sewer and water extensions, or some other public improvement is needed to spur private sector investments in King County, the revolving loan and grant program of the Community Economic Revitalization Board may be utilized. CERB monies are awarded to local communities on an “as needed” basis for public works projects.
Learn MoreA $2,000 or $4,000 credit against the Business and Occupation Tax is available for each new employment position created by a qualifying manufacturer.
Learn MoreWashington employers can access over thirty state and federal programs to assist in accessing labor market information, recruiting new employees and designing customized training.
Learn MoreWashington State currently has eleven designated foreign trade zones. These are legally secured areas outside the nation’s custom territory that operate as duty-free areas. Firms pay no tariffs on any imported raw materials used to create their products when the products are shipped overseas. If these products are sold in the U.S., companies pay duty only when the products are shipped and only on that portion of foreign materials that actually went into the product, not the waste. Foreign and domestic goods may be processed or stored without payment of customs duties and without being subject to other regulations normally applied to customs entries. Materials maybe sorted, reassembled, repackaged, manipulated, processed, used in manufacturing, or stored in the Foreign Trade Zone.
Learn MoreIndustrial Revenue Bonds (IRBs) serve to finance the acquisition, construction, enlargement or improvement of industrial development facilities. These bonds are issued by local governments to honor that purpose. The key advantage of IRBs lies in their tax-exempt status. Interest paid to the buyer of the bonds is not subject to federal income tax. As a result, the bond buyer will accept a lower rate of interest on the bonds.
Learn More- Unincorporated Retail Sales Tax 8.30%
- City Retail Sales Tax 8.30%
- State Occupation Tax 0.00484% on gross receipts (most manufactures)
- Property Tax Rates Average for 2005 is $11.49 (assessed per $1000 value on property)
- No unitary tax.
- No tax on interest, dividends, or capital gains.
- No local county B & O tax (in qualifying areas).
If qualified, processors for hire and manufacturers conducting research and development are not required to pay local or state sales or use tax on machinery and equipment used directly in the manufacturing or research and development process. In addition, charges for labor and services for installing machinery and equipment are exempt from the sales or use tax.
Learn MoreFor qualifying manufacturers, deferrals are available on the sales tax associated with the construction of new manufacturing facilities.
Learn MoreThe Washington Economic Development Finance Authority (WEDFA) is a public corporation of the state authorized to issue nonrecourse tax-exempt and taxable economic development revenue bonds. The Tax-Exempt Manufacturing and Processing Equipment Financing Program (TEMPE) allows bond interest to be exempt from federal income tax. This program is designed for equipment financings of $250,000 or greater.
Learn MoreQualifying distribution centers may apply for exemption of the state portion of sales tax on the construction of new warehouse distribution facilities over 200,000 square feet.
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