Alaska provides targeted incentives to support small businesses, with a particular focus on helping veterans re-enter the workforce. Programs like the Veteran Employment Tax Credit reward Alaska employers for hiring veterans, offering financial relief for those who are willing to support this essential workforce. While traditional grants may be limited, these tax credits can offer substantial support to Alaska’s small businesses.
Veteran Employment Tax Credit
- Purpose: Provides tax credits to businesses that hire veterans, encouraging job creation for those who have served.
- Eligibility: Open to businesses hiring disabled or non-disabled veterans; also applicable to seasonal employment.
- Benefit:
- $3,000 for hiring a disabled veteran.
- $2,000 for hiring a non-disabled veteran.
- $1,000 for seasonal employment.
- Application Process: Submit a Veteran Employment Tax Credit Application through the Alaska Department of Revenue.
- More Info: For detailed guidelines, contact the state’s Department of Revenue or visit their website.
Alaska Grants for Small Businesses
While Alaska lacks specific small business hiring grants, the Veteran Employment Tax Credit is a valuable resource for employers committed to supporting veterans in the workforce. These incentives can make it more affordable for Alaska businesses to grow while contributing to community development.
Other relevant programs in Alaska
- Alaska Small Business Development Center (SBDC): Offers free consulting services, training, and resources tailored to the needs of small businesses across the state. Learn more at the Alaska SBDC website.
- Workforce Innovation and Opportunity Act (WIOA): Provides federal funding for training and workforce development, which Alaska businesses can use to train and upskill employees.
How to apply for small business grants in Alaska
To apply for small business grants or tax credits in Alaska, review the eligibility criteria on the Alaska Department of Revenue’s website. The Alaska SBDC can also provide resources and guidance for small business owners navigating the application process.
10 helpful resources for small business owners in Alaska
Alaska Small Business Development Center (SBDC)
Offers free business consulting and low-cost training services.Alaska Department of Commerce, Community, and Economic Development
Provides various programs and services for businesses.Alaska Industrial Development and Export Authority (AIDEA)
Offers financing programs for businesses in Alaska.Alaska Department of Revenue
Information on tax credits and incentives for businesses.U.S. Small Business Administration - Alaska District Office
Federal resources and programs available in Alaska.Alaska Procurement Technical Assistance Center (PTAC)
Assists businesses in obtaining government contracts.Alaska Manufacturing Extension Partnership (MEP)
Provides support and resources for manufacturers.University of Alaska Center for Economic Development
Offers resources and support for entrepreneurs and small businesses.Alaska Chamber of Commerce
Provides networking opportunities and advocacy for businesses.To get the most current and accurate information about grants, tax credits, and training programs specifically for small businesses in Alaska, it's recommended to contact these organizations directly or visit their websites. They can provide up-to-date details on available programs, eligibility requirements, and application processes.
List of small business grants
