Tennessee Incentives Information

 

Direct Loans

This web site gives information on a wide variety of direct loans available to Tennessee businesses. Capital from these loans can be used to purchase ADA compliant property or Assistive Technology to make an employee with a disability more productive. Job creation and retention, especially for people with disabilities, is another appropriate use of these loans.

 

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Employment and Training – Incumbent Worker Training Program

The purpose of Incumbent Worker Training Program is to provide employers with grants that will improve employee earning potential through the upgrade of skills and to assist in keeping businesses competitive to promote growth and avoid layoffs. Often, people with disabilities don’t have the appropriate skills needed to obtain and keep employment. Programs like this can be very beneficial for workers with disabilities to acquirer or upgrade skills levels needed for employment objectives.

The following web site has further information including details on the Incumbent Worker Training Program's guidelines and requirements.

 

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Tennessee Industrial Training Service (ITS)

Industrial Training Service (ITS) provides training assistance as an incentive for new industry planning to relocate in Tennessee or for existing industry to expand business operations in Tennessee. The amount of capital investment and number of new jobs created from the investment determine the level of training assistance the business would receive. ITS funds are intended to support manufacturing and industrial-type organizations but are not limited to any one industry. The hiring of a minimum of 25 new, full-time employees is a prerequisite for consideration of this training assistance. Assistance is limited to full-time production/technical workers only.

Part of the expansion generated by this grant can be jobs for people with disabilities who have the appropriate skills, knowledge and employment histories.

 

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Tennessee Job Skills

Tennessee Job Skills (TJS) is a work force incentive grant program focused on enhancing employment opportunities and meeting the needs of new and existing industry. Through training, the program gives priority to the creation and retention of high-wage jobs. Focus is on employers and industries that promote high-skill, high wage jobs for emerging, demand, and high technology manufacturing occupations.

Since this program puts an emphasis on creating and retaining high-skill, high wage jobs, people with disabilities who are well educated and have the appropriate employment backgrounds could be the recipients of the jobs brought about by this program.

 

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Tennessee Job Training Assistance Program

Training assistance for new and existing businesses is available as an incentive by the State of Tennessee when associated with new investment for facilities, equipment and new job hires.

Frequently, people with disabilities don’t have the skills necessary to obtain and keep competitive employment. Through the Job Training Assistance program, disabled employees can gain the skills needed to get a job and successfully advance in their career.

 

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Tennessee Tax Incentives – Excise Tax

Tennessee offers a 1% excise tax credit to businesses that do the following: (1) purchase, install and/or repair of qualified industrial machinery, (2) purchase of qualified equipment associated with the required $500,000 capital investment by a distribution or warehouse facility and (3) purchase of computers, computer networks, software, computer systems, telephone systems and any peripheral devices purchased to reach the "required capital investment" to qualify for the jobs tax credit.

Since purchasing computers, software and other types of equipment are required to earn this tax credit, employers can use this as an incentive to acquire these devices – also known as Assistive Technology – for their workers with disabilities. Assistive technology is any product or device that enables a person with a disability to be more functional. Using the proper Assistive Technology at work will allow a person with a disability to be more productive, and in turn, a better worker.

 

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Tennessee Tax Incentives – Franchise Tax

Tennessee offers businesses a Franchise Tax Credit of $2,000 (or $4,500 in special enhancement counties) per new full-time employee in businesses that meet requirements of a minimum 25 new full-time jobs and additional capital investment of $500,000 and offers a minimal health care plan and for new jobs in the future resulting in a net increase in jobs.

This tax credit can serve as an incentive for Tennessee businesses to create new jobs. Hopefully, some of these new jobs will go to unemployed people with disabilities. As a group, people with disabilities tend to have lower employment rates. Tax incentives that promote job creation can help reverse this distressing trend.

 

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Tennessee Technology Access Project

The Tennessee Technology Access Project (TTAP) provides Tennesseans who have disabilities with comprehensive information related to Assistive Technology. TTAP's mission is to maintain a statewide program of technology-related assistance that is timely, comprehensive and consumer driven to ensure that all Tennesseans with disabilities have the information, services and devices that they need.

Assistive technology is any device that enables a person with a disability to be more functional. Using the proper Assistive Technology at work will allow a person with a disability to be more productive, and in turn, a better worker. Because of the increased productivity, it is wise for an employer to invest in Assistive Technology for employees with disabilities.

 

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Tennessee Vocational Rehabilitation

Vocational Rehabilitation (VR) is a Federal/State-funded program providing services to help individuals with disabilities enter or return to employment. It is designed to help individuals of work age with disabling physical disabilities compete successfully with others in earning a livelihood.

VR also offers services to employers who hire VR’s clients. These services are listed on the following website.

 

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