TVA offers a unique range of economic incentives that will benefit your project from start-up to long-term success in the Valley. Calculating TVA incentives is accomplished using both economic and power system metrics to create a profile of your company’s value to the region, and that, in turn, determines appropriate funding levels. Our goal is to help you obtain the financial assistance necessary to make establishing and growing your business in the TVA region a reality.
Contact us to learn more about ways TVA incentives can work to your advantage.
The Investment Credit is an economic development incentive program jointly offered by TVA and participating local power companies. This performance-based program rewards companies for five or 10-year economic and energy benefits associated with their new/expanded operations. Awards are applied as a credit to monthly power bills. Most companies can expect a 10-20 percent savings annually over a five or 10-year period.
Through the Performance Grant program, TVA makes an investment in competitive economic development projects for new and expanding companies in the TVA region. Award amounts are paid directly to the company and are flexible for approved purposes. Funding amounts are based upon the five-year economic impact of the project and made at the discretion of TVA Economic Development.
Workforce + provides additional incentive to new or expanding companies with a significant focus on providing resources to an eligible talent pipeline development program.
Financing is available for companies from TVA Loan Funds to stimulate job growth and leverage capital investment. TVA seeks to fill a funding gap or lower interest costs of project funding, thereby enhancing the opportunity for success. The maximum loan amount is $3 million and is determined primarily by jobs and capital investment. Loan terms may be from five to 20 years based on collateral.
The Security Deposit Coverage program gives qualifying businesses an alternative to tying up valuable capital as they locate or expand in the TVA region. It is available to new or expanding commercial and industrial electric customers through a partnership between TVA and participating local power companies. The program allows the waiver of electric utility deposits to qualifying customers for up to five years, and the application process is simple and quick.
SOC Performance Grant makes an investment in competitive economic development projects in Special Opportunity Counties in the TVA region.