The Town of Narrows is eager to assist new and existing businesses interested in participating in this economic development project. Currently under the Enterprise Zone Program, the state offers tax credit incentives to businesses that choose to locate in the enterprise zone. Only full-time permanent positions are eligible. Guidelines for new businesses are the same as an existing business with the exception that the establishment of a new business cannot result in a net loss of employment from another location. Any unused tax credit for the taxable year may be carried over until the full amount of the credit has been used.
Businesses are eligible for grants for a three year period.
If additional jobs are created within the grant period the business can receive grants for those jobs as well.