Photo by Ed Howell, Journal Record
Retail Development Incentives
Retail developers: Locate in Hamilton! Why? Because we are one of only a handful of cities in the entire State of Alabama who has an incentive package for retail development. Shop Hamilton First is more than just a slogan. The City of Hamilton is open for business - in particular, new retail development or redevelopment of existing retail business properties. In September, 2012, the Hamilton City Council passed a retail incentive program which created tax abatements for developments investing a minimum of $1 million and creating a minimum of 20 new jobs.
City tax rebates are available at the rate of 30 percent of new sales tax revenue generated by businesses for the first five years. In year six, the rate will be 20 percent, and in year seven, the rate will be 10 percent.
Need proof this program is working in Hamilton? Action Properties’ redevelopment of the Hamilton Heights Shopping Center in late 2012/early 2013 with anchor stores Goody’s, Hibbett Sports, and Dollar Tree, have not only met sales projections, but exceeded them. Sales tax revenues have increased in excess of 10 percent in the City of Hamilton since the opening of these new retail businesses.
For more information about this incentive program, please contact the Hamilton Area Chamber of Commerce at (205) 921-7786 or via email at firstname.lastname@example.org.