For those considering a move, Limestone County offers unique advantages for businesses. Offering incentives like favorable taxes, training in technology and manufacturing, as well as an ideal location amongst burgeoning aerospace, automotive and advanced manufacturing industries, Limestone County is positioned as a great location for your business relocation.
We break down four major things to know about this county -- and why you should keep it top-of-mind.
According to the Limestone County Economic Development Association (LCEDA), Limestone County’s tax rates are amongst the lowest in the nation. Particularly, the Business Privilege and Ad Valorem tax are especially favorable for businesses in the community.
The Business Privilege tax is determined by a company’s net worth and is based on the company’s ability to pay, says LCEDA. Rates range from $.25 to $1.75 per $1,000 of net worth in Alabama.
Ad Valorem (property) taxes are also favorable with rates lower than other southern states. Businesses are taxed on 20% of its fair market value in addition to millage rates, says LCEDA.
Additionally, the income tax rate in Alabama sits at 6.50%, one of the lowest rates in the United States. According to LCEDA, Alabama allows for a full deduction of federal income tax paid, netting a rate of approximately 4.50%.
Alabama Robotics Technology Park
A collaboration between the State of Alabama, Alabama Community College System, Alabama Industrial Development Training (AIDT), and robotics industry leaders across the nation, the Alabama Robotics Technology Park (RTP) provides critical training and educational development in automation and robotics.
Set across a campus of three individual training facilities, the RTP promotes the growth, creation and expansion of companies through technology solutions. Furthermore, the RTP partners with colleges and universities across Limestone and Madison counties to provide cost-free training for college students interested in pursuing a career in the growing industries of manufacturing and robotics.
The RTP offers:
Maintenance Training Center. This center provides a venue for stabilizing and growing Alabama industries in automation and safety training. This center also provides trainees hands-on experience with state-of-the-art automation equipment.
Advanced Research and Development Center. This center was established to give public and private entities a location to conduct research and development of robotics or automation technologies.
Integration, Entrepreneurial, and Paint Dispense Training Center. This center provides space and training to promote economic growth training for manufacturing process integration.
Advanced Education for High Schoolers
Limestone County, through generous contributions both privately and publicly, has donated a significant amount of resources towards the development of vocational programs for high schoolers to pursue careers within science, technology, engineering and mathematics (STEM) industries.
The Limestone County Career Technical Center (LCCTC) prepares students with the necessary skills to pursue a career with advanced manufacturing facilities, like the much-anticipated Mazda Toyota automotive assembly plant, within the region. LCCTC’s Advanced Manufacturing Program provides students for a career immediately after graduation.
According to LCCTC, “students who complete the academy will not only earn dual enrollment credits at Calhoun Community College, but also receive a Production Technician Certification from the Manufacturing Skills Standard Council.”
In addition to advanced manufacturing, the LCCTC teaches a range of desirable industry skills, like HVAC, electrical, building construction, welding and more.
Positioning Near Other Profitable Industries
Limestone County, with its unique positioning to Birmingham, AL, and Nashville, TN, has become a hub for innovation and technology with a growth expectation of 26.0% over the next ten years.
Major employers in the Limestone County region include:
Tennessee Valley Authority (TVA)
Limestone County Schools
With the recent introduction of Mazda Toyota Manufacturing USA automotive assembly facility, slated to open in 2021, Limestone County can expect a sharp increase in economic and workforce growth. The Mazda Toyota automotive facility will bring 4,000 jobs with salaries starting at $50,000 -- and growing.
Pepper, Johnstone & Company is independently owned and locally operated to handle your insurance needs be it commercial insurance, home insurance, or just general insurance. We focus on Athens and offer affordable and reliable insurance choices all across Alabama, Georgia, Mississippi, North Carolina, South Carolina, Louisiana, and Tennessee. We will help you find the right combination of tailored, personalized insurance coverage at just the right price to fit your needs. Contact us today to learn more about how we can help you.