Arkansas proactively anticipates opportunities and quickly responds to challenges in innovative ways.  This approach, with a tailored incentive package, makes Forrest City and Arkansas a profitable choice for locating or expanding a business.

Forrest City participates with the Arkansas Department of Economic Development in all of the incentives offered through the Consolidated Incentives Act of 2003.  Forrest City is located in St. Francis County, a Tier IV county.  The incentives available include the Job Creation Tax Credit (an income tax credit of 4% of payroll for new employees with a minimum annual payroll of $100,000 for each of the first 5 years), Create Rebate (a discretionary rebate of 5% of minimum $2,000,000 payroll up to 10 years), Tax Back (a refund of sales & use tax on construction and equipment for companies with an annual payroll for new employees of minimum of $100,000 and invest in excess of $100,000).

Companies eligible for these incentives include:

·        Manufacturers in NAIC codes 31-33

·        Eligible computer technology firms that derive at least 75% of their revenue from out-of-state sales

·        Distribution centers, office sector businesses, national or regional corporate headquarters

Other incentives are available, including enhanced incentives for targeted industries.  In addition to the state-offered incentives, Forrest City assists businesses in facilitating state agency permits.  The city will also bring utilities up to the building site at no cost to the industry.  For companies choosing Industrial Revenue Bonds, the city will negotiate a Payment In Lieu of Taxes.  In fact, Forrest City is just pro‑business in its approach to economic development.