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Incentives

cont. Local Incentives

USDA Business & Industry Guaranteed Loan Program

The purpose of the B&I Guaranteed Loan Program is to improve, develop, or finance business, industry, and employment and improve the economic and environmental climate in rural communities. This purpose is achieved by bolstering the existing private credit structure through the guarantee of quality loans which will provide lasting community benefits. Due to current population size, the City of Maricopa meets the Rural community eligibility requirements.Learn about the USDA Business & Industry Loan Guarantee Program.

Redevelopment District

In 2008 the City of Maricopa established a redevelopment district in the City of Maricopa. A Redevelopment District requires a plan that lays out broad goals and guidelines for the area to be revitalized. State statutes provide an outline of material to be included in the plan. In some redevelopment districts, the GPLET (see below) can be abated for the first eight years after the certificate of occupancy. For more information including district boundaries and the approved Plan, visit the Redevelopment District Plan section of this Website.

Government Property Lease Excise Tax Program

This program has been established by the State of Arizona and is available to businesses that lease parcels from a municipality rather than own them outright. All real property tax has been waived and replaced with an excise tax that is an established rate per square foot and based upon the type of use. The rate is reduced every ten years by 20% until it reaches the 51st year, when the tax drops to zero. In some redevelopment districts, the excise tax can be abated for the first eight years after the certificate of occupancy. If a municipality is a property owner, this creates a huge incentive for a company to occupy the facility, or allows them the cash flow to perform improvements. Any business or entity occupying a facility on property owned by the municipality (the building may be owned by the private entity, but land on which it sits must be leased from a city). The program typically is used to spur development and redevelopment in downtown areas.

Development Agreements

Development agreements generally give some type of benefit to the developer, such as a repayment for public infrastructure improvements through sales tax rebates. Arizona municipalities are restricted to providing only tax incentives consisting of reimbursements for public infrastructure and may not exceed or otherwise be disproportionate to the actual cost incurred. Maricopa has in the past entered into development agreements, and is willing to explore this option with any business bringing a high level of economic benefit to the community.

Project Fast-Tracking

The City of Maricopa, through Council Resolution 07-62, passed unanimously in 2007, has implemented a Fast Track Permitting Process for qualified new, expanding or relocating businesses. Recognizing the need to offer a business-friendly environment which allows businesses to relocate and expand in the community rapidly and efficiently, the City is committed to streamlining and simplifying, where possible, its governmental permitting processes. For more information, contact the Economic Development Department for a program details and application materials or download the brochure.

Inspection Assistance

For projects deemed beneficial to the residents of Maricopa, the City may assign a dedicated commercial building inspector to your project during the entire course of the construction process.