Manufacturing and technology companies locating in Grays Harbor County can tap into a variety of tax, financing and employee training incentives. Greater Grays Harbor, Inc. works with existing and new companies to ensure that they take advantage of the programs that can save businesses time and money.
Industrial Revenue Bonds (IRB)
Local Public Corporations may issue tax-exempt IRBs on behalf of private companies. Because interest payments to IRB buyers are not subject to federal income tax, bonds can be sold at lower rates of interest. This reduces the cost of the project. Costs that may be included in IRB financing are property acquisition, machinery and equipment, design, consulting, legal, accounting and financing.
Sales and Use Tax Exemptions
The County provides a Sales and Use Tax exemption on buildings, equipment and machinery used in manufacturing. Qualified manufacturers can have sales tax exempted on the entire amount invested in construction and installation. This exemption program also includes tax on construction labor, equipment installation and equipment replacement parts with a life over one year. If the manufacturer leases property and buildings, it can take advantage of program savings passed on from the property owner.
B & O Tax Credits
Manufacturers and technology companies locating in Grays Harbor County are eligible for a credit against Washington state's Business and Occupation (B&O) tax (49 percent of gross revenues).
- Manufacturers and technology companies can claim a $2,000 per new employee credit (or $4,000 per employee when an employee's wages and benefits exceed $40,000/year).
- Manufacturers and technology companies can also claim up to $5,000 of B&O tax credits for job training to employees. The credit is worth up to 20% of total approved training costs.
- The City of Hoquiam has a 0.2% B&O tax. It is not an official credit program, but Hoquiam has established a precedence of credits for new or emerging companies. The amount and time of these credits are negotiable.
Employee Training Incentives
There are subsidies available for on-the-job or customized training for new companies. The EDC works closely with the local schools, colleges, and community-based service providers to design and fund training that meets an employers needs.
Fast Track Permitting
Grays Harbor County and its municipalities are committed to reducing the roadblocks and paperwork that stand in the way of private investment projects. Permits and licenses can usually be approved within 60-90 days from the time the company submits a completed application. The EDC acts as an ombudsman for the company to assist and move the project along.
Site Development Assistance
A new company can benefit from state-financed infrastructure funds that can lower the cost of providing access to roads, rail, water, sewer, utilities or other works needed for industrial development.
For a table of Grays Harbor County business incentives, click business incentives.