In order to help businesses grow and expand in Monroe County, there are programs available for non-retail businesses purchasing equipment. GreatRate, GreatRebate and Monroe Manufacturing Rewards are administered by the Monroe County Industrial Development Corporation (MCIDC). EquiPlus is offered in partnership between MCIDC and Imagine Monroe.
- The GreatRate program offers businesses a rebate on interest paid on a bank loan or a lease in return for job creation. Business must purchase at least $50,000 in qualified equipment.
- GreatRebate offers businesses a rebate on a capital investment in return for job creation. Business must purchase at least $50,000 in qualified equipment with cash.
- The EquiPlus program is a simplified application process that allows companies to receive benefits from both the MCIDC and Imagine Monroe. Companies that receive benefits through GreatRate or GreatRebate programs for the purchase of equipment may be eligible for a sales tax exemption on the equipment purchase.
- Monroe Manufacturing Rewards provides small manufacturing businesses with a rebate on qualified manufacturing equipment purchases.
Some businesses that have been approved for these programs include:
- Bio-Optronics, a healthcare IT software developer for clinical research, patient and staff scheduling programs received sales tax exemptions through the EquiPlus program in 2018.
- Reliant Staffing Services dba Career Start recently took advantage of the EquiPlus program. Career Start was approved for a GreatRebate on the purchase of equipment for their new office space and was able to get an exemption on the sales tax through Imagine Monroe saving $8,000.
For more information on these and other incentive programs offered by Imagine Monroe, please visit the Rebate & Tax programs page.