Employment Incentives

overview

Employment Incentives Are Provided In Many Different Forms

Employment incentives are offered in many federal, state and local jurisdictions.  The financial benefit provided by the incentive may come in the form of income tax, sales tax, payroll tax, property tax, cash grant or other financial benefit.  

Each program is unique regarding its specific goals and objectives but increasing business growth is a common focus e.g. (job creation and capital investment) and/or emphasis on employing individuals with certain barriers to employment.

A common focus of these programs may include employing individuals with the following background or circumstances:

  • Receiving some form of public assistance (i.e. food stamps);
  • Residing in economically distressed or specifically identified areas;
  • Military background;
  • Have a disability;
  • Have a criminal background;
  • Recently laid off;
  • Unemployed for an extended time;
  • Receiving unemployment compensation;
  • Participating in a local workforce program

Common business related areas of focus include:

  • Expansion of existing businesses;
  • Attraction of new business;
  • Encourage development of specific business industries;
  • Retention of existing business activity;
  • Business development in specific geographic areas that are undeveloped or high employment areas;
  • Encourage business development to replace lost businesses or industries (i.e. military base closures)

Employment Incentives have various rules to secure the benefits.  Some incentives are less discretionary in nature by providing specific circumstances and an objective process to receive the benefits.  Other incentives may involve a process that is more discretionary and subjective to secure. 

Please refer to our Incentives by State Map to identify some specific Employment Incentives.

How to Increase Tax Savings With WOTC  Find out if your business is eligible to pursue the work opportunity tax  credit. Download Guide

WOTC Tax Credit Calculator

All businesses that pay income tax in the U.S. qualify for the federal Work Opportunity Tax Credit (WOTC). To quickly estimate your company’s WOTC, fill out the fields below.

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