Tax Incentives for Growth, Expansion and Revitalization Act of 2008 - Amends the Internal Revenue Code to allow employers in a high-job loss area a tax deduction for 50% of the income attributable to trade or business activities conducted in such area. Designates an area as a high-job loss area based upon standards relating to employment, annual payroll, and business establishments. Makes such tax deduction applicable to taxable years beginning after December 31, 2008, and before January 1, 2014.