The House Republican Caucus supports a Research and Development Tax Credit for businesses who develop and build new products in Tennessee. A program such as this will help diversify our state’s economy by attracting upstart firms in industries not already common in Tennessee. This R&D Tax Credit could be the catalyst that entices a business to locate or expand in our state.

We will also push to expand the existing Job Creation Tax Credit so that it helps more businesses. The current system only applies to companies who add at least 25 jobs and make a half-million dollar capital investment. We will decrease that threshold so more businesses can receive this economic booster shot.

Currently, very few, mostly large businesses can take advantage of this. Our plan will help small businesses across the state grow and create jobs in the process. We can also help start-up businesses during those first and most critical years in operation.

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