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Economic Development State Taxes

McGuireWoods Consulting

Comprehensive Overview Of 2025 Illinois Legislative Session From McGuireWoods Consulting

FY 2026 Budget - SB 2510 (Welch/Sims) created the fiscal year (FY) 2026 budget appropriation bill. The budget is based on estimated general funds revenues of $55.29 billion and spending of $55.04 billion for an estimated...more

Brownstein Hyatt Farber Schreck

Made in California: Proposals to Accelerate Manufacturing in the State Move Forward

In response to the risk of California’s film industry jobs moving to other states like Georgia and New Mexico, where tax incentives are stronger and costs are lower, Gov. Gavin Newsom and the California State Legislature...more

Vorys, Sater, Seymour and Pease LLP

Material Changes Transform the Ohio TMUD Tax Credit

The new Ohio budget signed June 30, 2025 (the Budget Bill or HB 96) enacts substantial changes to Ohio Revised Code Section 122.09, the Transformational Mixed-Use Development Tax Credit (TMUD Tax Credit). The TMUD Tax...more

Bracewell LLP

Texas Tax Update: Key Changes Enacted During the 89th Legislature

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The final day has passed for Governor Abbott to veto legislation that was approved during Texas’ 89th Legislature Regular Session. While the governor has called a special session commencing July 21, he has not identified any...more

Bricker Graydon LLP

Economic Development Changes Abound in Ohio’s Operating Budget Bill

Bricker Graydon LLP on

For those considering state government jobs after college or graduate school, certain opportunities often come with the informal – but widely known – warning: this can be a hard job during the state’s biennial budget drafting...more

McCarter & English, LLP

New Jersey Enacts FY 2026 Budget: Key Takeaways

New Jersey has enacted its Fiscal Year 2026 budget, with the Legislature passing a $58.78 billion spending plan ahead of the July 1 constitutional deadline. The final budget reflects an increase of approximately $727 million...more

Vorys, Sater, Seymour and Pease LLP

Wisconsin's Tax Reform: Catalyzing Data Center Investment

Wisconsin has emerged as a hotspot for data center development, with numerous project announcements coinciding with recent legislative tax reforms. Two significant changes—the elimination of most tangible personal property...more

Vorys, Sater, Seymour and Pease LLP

Ohio Reduces Property Tax on Utilities; Encourages Infrastructure Development

Ohio Governor DeWine recently signed Substitute House Bill 15 (HB 15) which will become the law effective August 14, 2025. HB 15 contains many reforms related to public utilities including: (1) tax changes favorable to select...more

Husch Blackwell LLP

Kansas Enacts 20-Year Sales Tax Exemption for Data Centers

Husch Blackwell LLP on

As part of a continuing trend, Kansas Governor Laura Kelly has signed SB98 into law, becoming the latest state to enact a sales tax exemption for qualified data centers. Many states, including neighboring Missouri (see RSMo....more

Bricker Graydon LLP

Economic Development Impact of Proposed HB 96 Cap on General Fund Carryover Balances

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This article provides an overview of the impact that the proposed HB 96 cap on school district general fund carryover balances will have on other areas of Ohio’s economic development ecosystem, including property tax rates,...more

Baker Donelson

The 114th General Assembly Adjourns First Regular Session: An Overview

Baker Donelson on

The first regular session of the 114th General Assembly began on January 14, 2025. The next day, Governor Bill Lee announced an extraordinary or "special" legislative session to address educational scholarship program...more

Rothwell, Figg, Ernst & Manbeck, P.C.

Fedtrade® Podcast – Adam Boltik, New Hampshire Department of Business and Economic Affairs – SelectUSA Spotlight

The Fedtrade® podcast recently interviewed Adam Boltik, Program Manager for the Office of International Commerce of the State of New Hampshire Department of Business and Economic Affairs, as part of our SelectUSA Investment...more

Dentons

Iowa Tax Credit Overhaul: What A New Bill Could Mean for Venture Investment, Job Growth, and R&D

Dentons on

The Iowa Economic Development Authority (“IEDA”) recently unveiled its bill (HSB 305 and SSB 1205) to overhaul Iowa’s tax credit system. The bill is expected to go through the legislative process in both chambers soon for the...more

Cozen O'Connor

Illinois Insights Special Edition: 2025 Budget Address Recap

Cozen O'Connor on

On Wednesday, February 19, Governor J.B. Pritzker delivered his seventh annual Budget Address to a joint session of the General Assembly, where he unveiled his $55.2 billion FY26 Executive Budget - marking an approximately $2...more

McGuireWoods Consulting

Governor Brian Kemp’s 2025 State of the State: Resilience, Progress, and Strengthening Georgia’s Future

On Jan. 16, 2025, Gov. Brian Kemp delivered his 2025 State of the State address to the Georgia General Assembly, highlighting resilience and progress while outlining an agenda to strengthen Georgia’s economy and quality of...more

Vorys, Sater, Seymour and Pease LLP

Attracting Aerospace: The Risks of a Property Tax-Heavy State Tax Structure

When examining the tax structures of business-aggressive states, a common pattern emerges: reduced income and franchise taxes offset by steeper sales and property taxes. While this approach may work for some industries, it...more

Maynard Nexsen

Alabama Legislative Summary: Economic Development

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During this year’s session, the Alabama Legislature considered multiple pieces of legislation focusing on improving Alabama’s economic opportunities and long-term economic development vision....more

Blank Rome LLP

New Jersey Agency Required to Honor its Deal and Allow $26 Million in Tax Credits

Blank Rome LLP on

The Superior Court of New Jersey, Appellate Division, required the New Jersey Economic Development Authority (“EDA”) to “turn square corners” and certify $26 million in tax credits pursuant to its contract with a company...more

Maynard Nexsen

The Buzz, An Economic Development Podcast | Episode 82: Burnie and Kara

Maynard Nexsen on

This week Kara Gormley Meador and Burnie Maybank, co-host of The Buzz, discuss South Carolina’ Economic Development and Tax Rankings. Burnie brings years of research and expertise to the episode as the former Director of the...more

Burr & Forman

South Carolina Department of Revenue Releases the 2022 Job Tax Credit County Tier Rankings

Burr & Forman on

The South Carolina Department of Revenue (SC DOR) annually ranks and designates the state’s 46 counties into four tiers based upon unemployment rate and per capita income (See S.C. Code Section 12-6-3360(B). Tier designation...more

Bricker Graydon LLP

Ohio Senate Committee chefs baking economic development morsels into their version of the state budget bill

Bricker Graydon LLP on

On June 1, 2021, the Ohio Senate Finance Committee released its version of the state’s biennial operating budget (HB 110), which must be signed into law by June 30, 2021. As often happens, there are millions of dollars in...more

Downs Rachlin Martin PLLC

2021 Final Vermont Legislative Update - May 2021

Business - The unemployment bill formerly known as S.10 – Business owners had their most challenging year in memory. Many hoped that the legislature, knowing this, would have sought to offset their challenges....more

Downs Rachlin Martin PLLC

Vermont Legislative Update Week 17 | Government and Public Affairs

Legislative Chess - It’s the time of year when the legislature plays chess. Sometimes it even plays speed chess, with programs, initiatives, and tax code changes flying in and out of bills as they move back and forth...more

Downs Rachlin Martin PLLC

Vermont Legislative Update Week 16 | Government and Public Affairs

Senate passes budget - On Friday, the Senate gave final approval to the $7.17 billion FY 2022 budget, H.439. Senate Appropriations Chair Jane Kitchel, D-Caledonia, called it “as complicated a budget as I’ve ever had to put...more

Downs Rachlin Martin PLLC

Vermont Legislative Update Week 14 | Government and Public Affairs

Governor proposes $90 million for state capital investment - Department of Economic Development Commissioner Joan Goldstein presented Governor Scott's Capital Investment Grant Proposal to the Senate Economic Development...more

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