Tax Incentive Programs for Superfund Redevelopment

Tax incentive programs offer either tax credits or tax depreciation in the interest of encouraging the redevelopment of Superfund sites. Some of these programs have been listed below and, where applicable, sites that have utilized these resources are listed below the appropriate program.

On this page:

• Tax Credit and Depreciation Programs
• USDA Rural Development Resources

Tax Credit and Depreciation Programs

• Superfund Redevelopment Using Opportunity Zone Tax Incentives (PDF)
  Provides information on using Opportunity Zone tax incentives for Superfund site redevelopment.  Opportunity Zones are a powerful way to encourage revitalization in economically distressed communities. Redevelopment of current or former Superfund sites may qualify for Opportunity Zone tax benefits.
   
• Business Energy Investment Tax Credit 
  Tax credits for businesses that utilize renewable energy modalities for their operations.
  •  Aerojet General Corporation, Rancho Cordova, California
     
• Housing and Urban Development (HUD), Empowerment Zone Tax Incentives, and Renewal Community Tax Incentives
  These two HUD incentives are worth approximately $11 billion and encourage businesses to open, expand and hire local residents in eligible communities. Incentives include employment credits, a 0 percent tax on capital gains, increased tax deductions on equipment, accelerated real property depreciation and more.
  • South Point Plant, South Point, Ohio


• Modified Accelerated Cost-Recovery System (MACRS)
  Tax depreciation deductions to recover renewable energy investments for commercial properties.
  • Aerojet General Corporation, Rancho Cordova, California


• Tax Increment Financing (TIF) 
  A method to use expected future gains in taxes to finance current public improvements and development projects. TIF programs are managed by individual states.
  • MacGillis & Gibbs Co./Bell Lumber & Pole Co., New Brighton, Minnesota
  • Midvale Slag, Midvale, Utah

USDA Rural Development Resources

Through economic  investments in planning and development of critical infrastructure, the USDA offers several key incentives to help advance opportunities for outdoor recreation and tourism facilities.

• Community Facilities Guaranteed Loan Program (RHS)
  Improve, develop, or finance essential community facilities for communities in rural areas and cities and towns of fewer than 50,000.
   
• Rural Business Development Grants (RBS)
  Targeted technical assistance, training and other activities leading to the development or expansion of small and emerging private businesses in rural areas. Feasibility studies or economic impact studies for a recreation activities may be eligible.
   
• Rural Cooperative Development Grant (RBS)
  Provide support to centers for rural cooperatives. Eligible work plans can include trail development/maintenance, feasibility studies, marketing, lodging development, business development, and strategic planning.
   
• Business and Industry Guaranteed Loans (RBS)
  Business conversion, enlargement, repair, modernization, or development; purchase and development of land, easements, rights-of-way, buildings, or facilities.
   
• Intermediary Relending Program (RBS)
  Provides 1% low-interest loans to local intermediaries that re-lend to businesses for community development projects in rural communities.