State Incentives

Encourage Growth, Investment and Job Creation

Primary State Incentives

Companies that consider relocating, or expanding in Racine County have access to a diverse range of incentives to encourage business growth, investment and job creation. Racine County Economic Corporation (RCEDC) works with companies interested in a Racine County location to access incentive assistance to make their project a success in our community.

Racine County

State Corporate Income Tax Rate Comparison

Wisconsin’s Manufacturing and Agriculture Credit essentially eliminates the tax on qualified income from manufacturing activity in the state by providing a 7.5% credit on corporate income. The current state tax on corporate income is 7.9%. This credit is direct and non-competitive. Note: The credit is a percentage of “eligible qualified production activities income.”

Midwestern States: Wisconsin, Illinois, Indiana, Michigan and Minnesota

 

WISCONSIN

ILLINOIS

INDIANA

MICHIGAN

MINNESOTA

CORP. TAX

0.40%

9.50%

5.50%

6.00%

9.80%

SALES TAX

5.00%

6.25%

7.00%

6.00%

6.88%

Business Development Tax Credits

Business Development Tax Credits supports job creation, capital investment, training and the location or retention of corporate headquarters by providing companies with refundable tax credits that can help to reduce their Wisconsin state income tax liability or provide a refund. RCEDC provides technical assistance to existing and companies relocating to Racine County to complete applications for business development tax credits. The program is administered by the Wisconsin Economic Development Corporation (WEDC).

Business Support Network

The Racine County Business Support Network offers companies technical expertise and community connections to ensure a successful project. Companies gain access to a range of professional expertise, including: entity establishment, architecture and construction, banking, human resources and staffing, and accounting and logistics networks. In addition, throughout the project approval process, RCEDC staff offers customized site selection and technical support.