Jobs Investment Act of 2004 - Authorizes a State to provide to any entity a tax or fee credit or other tax incentive for investment in the acquisition, construction, installation, and rehabilitation of improvements, real estate, fixtures, equipment, and facilities located in the State. Provides that any such action taken by a State shall be considered to be a reasonable regulation of commerce and shall not be considered to impose an undue burden on interstate commerce or to otherwise impair, restrain, or discriminate against interstate commerce.