Local governments which undertake redevelopment and revitalization efforts in certain older commercial and industrial areas can now qualify those areas for the State’s maximum job tax credit of $3,500 per job. The incentive, which is available for new or existing businesses that create two or more jobs, is a Job Tax Credit which can be taken against the business’s Georgia income tax liability and payroll withholding tax. The credit is available for areas designated by DCA as an “Opportunity Zone”. DCA will consider designations for areas that are within or adjacent to a census block group with 15% or greater poverty where an enterprise zone or urban redevelopment plan exists.
Opportunity Zone Tax Credit Incentives:
For a local government interested in an Opportunity Zone designation, please click here to access information to assist in considering and applying for a designation.
To learn more about applying for an Opportunity Zone designation, contact Cherie Bennett at (404) 831-2058, or contact the Economic Development Field Representative in your area for community assistance.
To learn more about the Tax Credits available to businesses locating or expanding within a designated Opportunity Zone, contact Dawn Sturbaum at (404) 679-1585.
Georgia Department of Community Affairs
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