When new businesses come to Johnson City, they bring in new jobs and enhance the quality of life in the area. These investments are important to maintaining a robust and favorable business climate.
Recognizing the value that new businesses bring, a variety of incentives are available in order to help them be successful. The JCDA strives to assist qualifying business owners and developers with tools that will help them be successful.
For a list of current available properties in the district, click here.
Downtown Johnson City Redevelopment Loan Program
Commercial projects locating in downtown Johnson City may qualify for the downtown Johnson City Redevelopment Loan Program. This program provides a low-interest loan to be applied toward the down payment and/or closing costs for an existing or new business, a loan for renovation costs above the bank loan, or a micro loan for renovation of buildings and financing for equipment loans. netedc.org
Tax Increment Financing (TIF)
Downtown Johnson City is a Tax Increment Financing district. It was established to provide a public financing method used for redevelopment and community improvement projects. Commercial projects locating in downtown Johnson City could be eligible for TIF funds, if approved by the TIF Advisory Board.
Facade Grant Program
A Facade Grant Program was established in July 2013, in which eligible building
owners can apply for funds up to $5000 per storefront, as well as an additional $2500 for multiple-faced buildings. The policy allows for larger grant amounts if a proposal shows substantial economic impact, including job creation and sales tax generation downtown.
You can find the Facade Grant Application here
Opportunity Zone (OZ)
The Redevelopment District is one of two Opportunity Zones in Washington County.
Qualified Opportunity Zones were created by the 2017 Tax Cuts and Jobs Act. These zones are designed to spur economic development and job creation in distressed communities throughout the country and U.S. possessions by providing tax benefits to investors who invest eligible capital into these communities. Taxpayers may defer tax on eligible capital gains by making an appropriate investment in a Qualified Opportunity Fund and meeting other requirements. TN.gov
Commercial Efficiency Advice and Incentives Program (CEAI)
An incentive program offered by the Tennessee Valley Authority (TVA), the CEAI offers various facility energy assessments to advise commercial customers on making smart and informed energy-saving investment decisions. Projects that help reduce power use during TVA’s peak periods may also be eligible for financial assistance.
TVA Deposit Assurance Program
Eligible commercial businesses with at least 25 employees and an average monthly demand of greater than 250 kilowatts may be eligible for TVA’s Deposit Assurance Program, which allows the waiver of electric utility deposits to qualifying customers for a limited term.