The U.S. Department of the Treasury and the Internal Revenue Service (IRS) have designated Opportunity Zones in 18 States, including 260 census tracts in the State of Georgia. Economic investment in these areas, which are some of the most distressed communities in the country, may now be eligible for preferential tax treatment. These new Federal Opportunity Zones are intended to facilitate investment in areas where poverty rates are greater than 20 percent.
State of Georgia Opportunity Zone Tax Credits
Douglas County has commercial and industrial districts identified as opportunity zones. Companies located in these zones and that create at least two Georgia net new full-time jobs are eligible for a $3,500 jobs tax credit towards 100% of Georgia State Corporate Income Tax. Excess credits can be applied towards State Payroll withholding. This credit would be taken in place of the Tier 3 Jobs Tax Credit.
State of Georgia Job Tax Credits
Douglas County is a Tier 3 county, therefore companies are able to receive a $1,750 job tax credit for creation of 15 full-time jobs in a calendar year. These credits can be taken for five years. Excess credits can be carried forward for 10 years.
The Development Authority assists companies in identifying Douglas County locations that meet your needs, using our database of real estate properties, demographics, GIS tools, and more. This is a confidential process customized per client.
Douglas County offers 100% inventory tax exemptions known as “Freeport.” The Freeport exemption is on raw materials and goods in process, finished goods held by manufacturers, and finished goods held for out-of-state shipment.
Workforce Solutions and Employee Training
Along with our local, regional and state partners, we will identify training opportunities and resources to meet your workforce demands to include Workforce Investment Funds, QuickStart, Techincal College System of Georgia customized training programs, Department of Labor assistance, training credits, screening services and more.
Douglas County offers one-stop expedited permitting to all development projects, significantly reducing start-up time and costs.
Douglas County offers taxable and tax-exempt bond financing on projects resulting in below-market rates for numerous projects. Through this process the Douglas County Economic Development Authority takes title to the personal and/or real property. This is an economical avenue for financing a project when tied to the local property incentive.
Local Tax Incentive
New businesses locating and Existing Industries expanding in Douglas County may be eligible for our local ad valorem tax incentive. To qualify, a business or industry is awarded points based on the criteria in the below matrix. A minimum of three points is required to be considered for the tax incentive plan, with a maximum of 50 potential points. All plans are 5 or 10 years long with varying schedules.