BUSINESS INCENTIVES

Business Incentives

Attraction & Retention Incentives

The City of Murphy is committed to the attraction and retention of high-quality development for its citizens.  All incentive requests will be considered and evaluated based upon the criteria outlined in the city’s Incentive Policy.  The incentive package will be determined by the size of the capital investment, the potential sales tax generated and infrastructure requirements. Consideration for incentives shall require a return on investment (ROI) deemed reasonable by the Murphy Municipal Development District (MMDD) board and City Council.

REVAMP Grants

The REVAMP (REVive and Advance Murphy’s Prosperity) Grant program offers existing local businesses with financial assistance to enhance the physical appearance of their properties.  The program provides 50/50 matching grants of up to $10,000 for exterior improvements to the building, signage and other site improvements as outlined in the program guidelines.  Grants are available to both commercial property owners and business tenants.

How to Apply?

We invite you to contact us to discuss your project and potential incentives.

What are the Steps?

1. Meet with staff prior to application submittal
2. Completed application submitted with all required documentation
3. Staff prepares a Term Sheet for prospect to review
4. Term Sheet presented to MMDD Board of Directors for recommendation to City Council
5. Term Sheet is then presented to City Council for consideration
6. Economic Development Incentive Agreement is drafted
7. MMDD and City Council approve the Agreement
8. The Agreement is signed by all parties

How Long Does It Take?