Director's Report 07/20/2020

  1. Incentives
  2. Opportunity Zones
  3. Enterprise Zone
  4. New Market Tax Credits
  5. Quality Jobs

Incentives:

Atoka is in the following State and Federal Incentive Zones:

  • OpporIncentivetunity Fund
  • Enterprise Zone
  • New Market Tax Credits
  • Quality Jobs

Industries and some businesses typically begin their search with communities that fit their preferred incentives.  A specific set of required incentives such as Opportunity Zone, or New Market Tax Credit Area, are outlined in the Request For Proposals (RFP).  Atoka has benefitted from the Federal and State Incentives.  An industry will go to the location that provides the best economic return on investment.  We want them to make money in Atoka because we want the jobs, we want our people to make money.  One dollar of new payroll typically turns over in the local economy 1.5 times.  In other words, $1,000 of new payroll will create an additional $1,500 in businesses such as restaurants, housing, utilities, etc.  This multiplier is due to new jobs, sales, and purchases, created in support industries.