Program Description | Rural Zone Tax Credit Benefits |
Documents and Links | Contact Information
Recognizing that many small, rural downtown areas have experienced varying levels of economic distress, DCA worked with the Georgia General Assembly to secure passage of a bill calling for the development of “Rural Zones.” The establishment of up to 10 zones per year will enable businesses and investors to obtain tax credits for qualified activities occurring within designated Rural Zones. DCA, in partnership with the Georgia Department of Economic Development, will receive applications and designate zones each year to provide an incentive for job creation and private investment in the designated locations.
Credits will be available for job creation activities, investment in downtown properties, and renovation of properties to make them usable. The credits can be layered on top of each other; however, no credits are eligible without the job creation element being present. This program cannot be used in conjunction with any other state tax credit program.
Rural Zone Tax Credit Benefits
- $2,000/year/full-time equivalent job created within the zone for five years. At least two net, new full-time equivalent jobs must be created and maintained in order to qualify for the job credits or any additional credits listed below.
- Up to $125,000 credit (claimed over 5 years) for investing in the downtown area. This is capped at 25% of the total investment cost, not to exceed $25,000 in credits claimed over five years.
- Up to $150,000 credit (claimed over 3 years) for rehabilitating structures in the downtown area. This is capped at 30% of the total investment cost, not to exceed $50,000 in credits claimed over the three years.
Documents and Links
To learn more about applying for Rural Zone designation, contact Cherie Bennett at (404) 831-2058 or contact DCA’s Regional Representative serving your area.
Georgia Department of Community Affairs
60 Executive Park South, N.E.
Atlanta, Georgia 30329-2231