The duty of the Cottonwood Economic Development Authority (EDA) is to carry out economic and industrial development and redevelopment within the city, with the goal of encouraging, attracting, promoting, and developing economically sound industry and commerce in Cottonwood. 

Do you have an idea for a new business and want to take the next step in trying to get your business started? 

If you are experiencing difficulty in getting your business off the ground and aren’t sure where to go for help, the Cottonwood EDA may be able to assist you!

The Cottonwood EDA can work with you to help find the space, financing and other assistance that you may need.

Property Tax Abatement
The City of Cottonwood can use Property Tax Abatement to give an expanding or relocating business a financial advantage by "abating" taxes on the property in which the business is located for a set amount of time.  The amount of possible abatement is based on the scope of the project, amount of capital improvements, jobs added to Cottonwood through the expansion or re-location, and need for abatement.  The City of Cottonwood already has a tax abatement policy in place.

Tax Increment Financing
The City of Cottonwood may use tax increment financing for rental housing projects that are developed within the City of Cottonwood and cater to a variety of household incomes. The City of Cottonwood can use this incentive to help with gap financing for a housing project by allowing local taxing jurisdictions to reimburse the property owner the property taxes paid on the development in "increments".

Helpful Links to Help in Starting Your Own Business