Help is here for new and existing businesses in Douglas County. The Douglas County Board of Commissioners is pleased to announce that it has received approval of its Opportunity Zone from the Georgia Department of Community Affairs. The Opportunity Zone includes commercial and industrial parcels in the County along Thornton Rd., Maxham Rd., and Bankhead Highway from the Douglas/Cobb County Line to Sweetwater Rd. in Lithia Springs.
New and existing retail, office and industrial businesses in this zone can take advantage of a $3,500 per job tax credit for new jobs created in the zone. The credit is applied towards Georgia Corporate Income Tax and Georgia Payroll Withholding.
Douglas County Commission Chairman Tom Worthan stated, “this program should help generate jobs for our citizens, and give new life to an older area of our County. Innovative programs like this are what we need to help jump start growth in our community. We continue to take advantage of every avenue possible to boost our local economy.”
Opportunity Zones increase a community’s chances for job growth in areas that have experienced significant job loss, high poverty and vacancy rates.
“With this designation, Douglas County is in an enhanced position to compete for new projects in the Atlanta Market and provide an incentive for our local companies to expand.” Chris Pumphrey said, executive director for the Douglas County Development Authority. The Development Authority partnered with the Douglas County Board of Commissioners in applying for the designation.
The Georgia Department of Community Affairs requires local governments to submit an urban redevelopment plan for the proposed zone along with data that supports the need for the designation. The Douglas County Board of Commissioners granted approval for Planning and Zoning department to undertake the effort necessary to meet DCA’s standards.
Once approved, the zone is in place for 10 years. Each company that applies for the credit can use it for five years as long as the jobs are maintained each year.