Efforts to assist businesses in the aerospace industry are in full motion with a program sponsored by a partnership of two local economic development organizations. The Economic Development Board for Tacoma-Pierce County and Pierce County’s Economic Development Department are teaming up to bring a special tax workshop to local aerospace manufacturers.
Experts from the state Department of Revenue will present information from 12 to 2 p.m. March 25 at the Pierce County Economic Development offices, 8815 South Tacoma Way. Revenue staff will discuss tax exemptions and tax credits which can be utilized by aerospace manufacturers to improve cash flow and profitability. Several of the exemptions and credits have been available previously but are not always utilized by business. In addition, new exemptions and credits were passed by the Legislature in 2003 and may not be widely utilized by industry.
Our goal is to help businesses understand the full array of resources available to them, thereby helping their bottom lines and creating good jobs, said Derek Kilmer, EDB business retention manager. Businesses are advised to send their financial managers to this workshop to learn the particulars of these tax laws which can substantially benefit their companies.
Lunch will be provided for those who RSVP for the workshop. Reservations can be made by contacting John Bolender of Pierce County at 253/798-7382.