Adventure tourism is one of the hottest industries in the country and the world. To capitalize on this growing trend, Tennessee passed the Tennessee Adventure Tourism and Rural Development Act of 2011 in hopes to incentivize adventure tourism businesses to invest and create jobs in districts planned all across the state.
Tennessee’s abundance of natural resources makes it an ideal setting to support this segment of the tourism industry. The act allows qualified businesses that locate within a certified district to earn a jobs tax credit to offset a portion of the business’ Tennessee franchise and excise tax liability. Qualified businesses may include restaurants, hotels, or other tourist related attractions.
“I began the process in February and over the next few months required resolutions from each of the cities where the district resides, as well as the county. They all passed unanimously,” said Pam May, vice president of The Roane Alliance. “Roane County has so many natural resources ideal for adventure tourism—more than 700 miles of shoreline, bluffs, and vistas on the plateau, and a large number of Wildlife Management Areas—just to name a few.” [Read more…]