Diversity Plan   

Extends the term of the PILOT program for those who hire minority employees or contractors
All PILOT companies must file a Diversity Plan with the industrial development board, but those which meet or exceed all of the goals of the Diversity Plan may extend the PILOT by one or two years at the discretion of the Industrial Development Board.

Created to encourage the support and inclusion of minority, women, and locally owned small businesses in the economic development of the local community.

Offers below-market-rate financing for capital-intensive industrial and nonprofit construction and renovation projects
The maximum loan amount varies according to the type of project. In most instances, TVA funds should be used for the acquisition of fixed assets. Loans are typically below market rate, with specific rates to be determined on a case-by-case basis after consideration of the loan evaluation criteria. Program guidelines require that each TVA loan dollar leverage additional funding from other sources. The loan funds are primarily available to manufacturing companies and local nonprofit economic development entities. Loans can be used to fund the construction of new manufacturing facilities, expansion of existing facilities, and development of publicly owned industrial sites or buildings.

Established to stimulate economic development and leverage capital investment in the TVA power service area.

Provides tax credit to employers who hire employees from identified target groups which traditionally face high rates of unemployment
Available to employers who hire and retain veterans and individuals from other target groups with significant barriers to employment. Employers generally can earn a tax credit equal to 25% or 40% of a new employee's first-year wages, up to the maximum for the target group to which the employee belongs. Employers will earn 25% if the employee works at least 120 hours and 40% if the employee works at least 400 hours.

Developed to address high unemployment rates among certain groups.