What is an Enterprise Zone?
Under GA law, the Enterprise Zone allows municipalities and counties to grant an transaction based incentive to encourage economic development.
Property tax exemption
Applicable to County and City
Reduction of
occupation taxes, fees, and building inspection fees
Qualifying a Business for an Enterprise Zone Incentive
Business Enterprise
Retail, Manufacturing, Logistics, Processing, Telecommunications, Tourism, Research and Development
Service Enterprise
Finance, Real Estate and Day Care.
Public Benefit Requirements
A minimum of
five (5) or more jobs
Provide a
positive economic impact to the city or County
•New jobs
•New investment
•Economic
impact modeling
•Positive net
impact to the County
Rehabbed property must demonstrate a 5 to 1 increase in land value.
Property Tax Exemption for Qualifying Enterprises cannot exceed the following:
100% for first
(5) years
80% for next two (2) years
60% for year eight (8)
40% for year nine (9)
20% for year ten (10)
School taxes, sales and use taxes, and taxes imposed
for GO debt are excluded
Advantages of the Enterprise Zone program
Local
incentive
Local control
of application and costs
Public
benefits are required
Can be catered
to existing businesses and entrepreneurs
Allows for
layering with other federal and state programs
Enterprise Zone Map City of Jonesboro GA