💡 How 380 Agreements Work
🎯 Purpose
Cities use 380 agreements to:

  • attract new businesses and development projects

  • encourage existing companies to expand or retain operations

  • improve the local tax base and employment opportunities

  • support specific sectors (e.g., manufacturing, retail, tech, housing)

📑 Typical Incentives Offered
A Chapter 380 agreement can include one or a combination of incentives such as:

  • Sales tax rebates — a portion of the city’s local sales tax remitted by the business is returned over a period of time.

  • Property tax reimbursements tied to new investment or job creation.

  • Fee waivers or reductions (permits, inspections, impact fees).

  • Grants or lump-sum payments for specific project costs.

  • Infrastructure support or services at reduced cost.

Each city defines eligibility criteria — such as minimum investment, job creation thresholds, sales tax revenue levels, wage standards, and project term limits (often up to 10 years).

📊 Performance-Based Terms
Most agreements are performance based — meaning the business earns incentives only if it meets specified benchmarks (e.g., jobs created, investment thresholds). Failure to meet these may reduce payments or trigger claw backs.
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