The North Dakota Department of Commerce announced today that primary sector businesses wishing to utilize the Automation Tax Credit are required to submit applications by Jan. 31.
The Automation Tax Credit program provides a tax credit of up to 20% to cover the cost of equipment leased or purchased with the intent of automating a manual process.
Completed applications and supporting documentation must be submitted by Jan. 31. of the year following the purchase of the equipment.
“With the workforce challenges we are seeing across the state and nation, I would encourage eligible primary sector businesses to apply for the Automation Tax Credit,” Commerce Advanced Manufacturing Business Development Manager David Lehman said. “This valuable tax incentive is aimed at increasing our state’s manufacturing and processing capacity and is not just for robots. Any automated equipment which replaces manual processes and results in improved job quality or productivity may be a candidate.”
To qualify, the business must be certified as a primary sector business through Commerce, and the applicant must have taken ownership of the automation equipment during the 2022 calendar year. All applications will be reviewed and must be approved by the Commerce Economic Development and Finance Division (ED&F).
For more information, please visit ndgov.link/incentives.