Incentives - Why Lenox
1023
page-template,page-template-full_width,page-template-full_width-php,page,page-id-1023,page-child,parent-pageid-500,ajax_fade,page_not_loaded,,qode-title-hidden,qode_grid_1300,footer_responsive_adv,qode-theme-ver-10.1.1,bridge,wpb-js-composer js-comp-ver-5.7,vc_responsive
incentives

incentives

Did you know Lenox was home to one of only 16 economic development
initiatives across the state during the recession?

Did you know Lenox was home to one of only 16 economic development
initiatives across the state during the recession? With help of our town and the
state’s Economic Development Incentive Program Allegrone Companies got a multimillion dollar Recovery Zone Facility Bond to fund the creation of their new headquarters.

Local Tax Incentive Procedure

 

The Town of Lenox seeks to provide local tax incentives to existing businesses or new businesses when projects with large capital investment will serve the public interest, improve public infrastructure, and catalyze additional development in areas targeted for growth or redevelopment.

State Programs

The Economic Development Incentive Program

 

The Economic Development Incentive Program (EDIP) is a tax incentive program designed to foster job creation and stimulate business growth. Companies receive state and local tax incentives in exchange for job creation, manufacturing job retention and private investment commitments.

Economic Target Area (ETA)

In the News

As developers seek local incentives, Lenox explores more welcoming tax policy

 

By Clarence Fanto, Special to The Eagle
LENOX — Town leaders are pushing the hot-potato issue of tax breaks for new or expanding businesses in town back to the front burner.

 

After shelving the thorny challenge last winter of crafting a tax-incentive policy that would pass muster with town voters, members of the Select Board began exploring a revised proposal at their meeting this week.

 

Land Use Director and Town Planner Gwen Miller, who wrote the draft, emphasized that a complete, predictable, transparent policy is needed to consider active or new proposals from companies seeking to locate new businesses in town, or existing firms planning to expand locally.