METRO ATLANTA, GEORGIA (01/18/2021): Today, the economic business development issues are complex and the capital investment can be challenging to developers, investors, and real estate agents. MS Global Partners, LLC understands the complicated demand for business expansion. We bring a broad economic development perspective and bottom-line focus, regardless of project location and investment criteria.
According to a Georgia Trend Magazine article, the state Department of Economic Development in partnership with the Georgia Department of Community Affairs has designated 10 new cities as Rural Zones. They are:
Colquitt
Donalsonville
Hawkinsville
Hiawassee
Leesburg
Moultrie
Stone Mountain
Thomson
West Point
Woodbury
Investments in these 10 cities will begin earning the tax credits on Jan. 1, 2021. The designation enables individuals in the communities to take advantage of tax credits for creating jobs and making qualifying investments in historic downtown areas. The tax incentives are:
Jobs Tax Credit of $2,000 per new full-time-equivalent each year for up to five years
Investment Credit equal to 25% of the purchase price of a property – up to $125,000 — in the designated Rural Zone
Rehabilitation Credit equivalent to 30% of a Rural Zone building’s qualified renovation costs, up to $150,000
(These credits can be combined, but the job creation element must be included).
MS Global Partners, LLC has helped numerous clients relocate or expand in Georgia by working with state economic development officials to craft favorable financial incentive packages. These agreements can be extremely complex and involve numerous agencies, including the Department of Economic Development, the Department of Labor, the Department of Revenue, and even local Planning and Zoning Commissions, to name a few. We have helped companies access grants, tax credits, tax incremental financing, and low-interest loans, among other things.
MS Global Partners, LLC’s Economic Development and Tax Incentives practice help companies to develop strategies for maximizing public support for their corporate relocations and investments. We will work with clients access statewide job tax credit for any business or headquarters of any such business engaged in manufacturing, warehousing, and distribution, processing, telecommunications, tourism, research and development industries or services.
For more information on Economic Development Practice - Email us at advisors@msglobalpartners.com