Incentives & Financing

• Local Assistance

• Opportunity Zone

• Georgia Competitve Advantages

• Georgia Tax Credits

• Georgia Hiring and Training Assistance

• Other Assistance Programs

• Do I Qualify?

 

• Local Assistance

Valdosta-Lowndes County Industrial Authority is aggressive in how we can structure a deal. Whether you need direct financial assistance, fast track permitting, workforce assistance or engineering assistance, we can tailor a package fitting your business needs. Our offerings include:

Property tax abatement	Land incentives	Industrial Revenue Bonds
Revolving Loan Funds	Freeport Exemption	Engineering Services Assistance
New Market Tax Credit	Fast Track Permitting	Permitting and Infrastructure financial assistance
Build to Suit/lease back arrangement	Waived utility fees/reduced utility costs

Our team is ready to help you solve financial challenges by helping you identify, apply for and speed up the acceptance process for the financial assistance you need. Contact us today to start the process. Or, explore the other ways we can help your business grow.

 

• Opportunity Zone

Local governments that undertake redevelopment and revitalization efforts in certain older commercial and industrial areas qualify as Opportunity Zones (OZs) and can receive a State of Georgia job tax credit. New or existing businesses that create two or more jobs can receive a tax credit of up to $3,500 per new Georgia job. Credits can be used toward income tax liability and state payroll withholding. Areas that qualify for Opportunity Zone status are also typically within or adjacent to a census block group with a 15 percent or greater poverty level. Georgia Department of Community Affairs (DCA) has designated the downtown area of Valdosta-Lowndes County as Opportunity Zone.

An Opportunity Zone qualified project may receive:

• the maximum Job Tax Credit allowed under law - $3,500 per job created
• the lowest job creation threshold of any job tax credit program - 2 jobs
• use of Job Tax Credits against 100 percent of Georgia income tax liability and withholding tax
• provides for businesses of any nature to qualify, not just a defined "business enterprise"

To read more on the state's Opportunity Zone Program, please visit the Georgia Department of Community Affairs' website by clicking here.

 

• Georgia Competitive Advantages

The State of Georgia offers many business advantages, including:

• Low corporate taxes: Georgia was the first southeastern state to pass single-factor corporate tax apportionment. This legislation applies the 6 percent corporate tax rate only to the portion of income earned inside the state.
• High bond ratings: Georgia is one of a handful of states to have the highest bond ratings (AAA) from all three major municipal bond rating agencies — Moody’s Fitch and Standard & Poor’s.
• Top rankings: Year after year, Georgia ranks as a “top 10” state for business — by Forbes, CNBC and many others. Example: In fall 2011, a nationwide survey of location consultants named Georgia the 2nd best state in the U.S. for doing business.
• Corporate presence: Industry giants Home Depot, UPS, Coca-Cola and Delta Air Lines are just a few of the 32 Fortune 1000 companies that chose Georgia for their headquarters. And only New York and Houston have more Fortune 500 companies .
• Fiscal conservatism: State law mandates that Georgia continuously maintain a balanced state budget. And the state consistently maintains one of the nation’s lowest debt-per-capita levels.
• Business development support: Georgia’s Department of Economic Development has industry experts and project managers whose sole responsibility is to help businesses expand. These professionals connect companies large and small to government and business leaders at home and abroad; represent the state’s industries at conventions and meetings worldwide; and provide a wealth of data and analysis to inform decision-making.
• Community leadership: The Georgia Department of Economic Development (GDEcD), Georgia Chamber of Commerce and dozens of other development agencies statewide assist businesses in communicating with communities, educating a diverse workforce, and promoting the growth of their industries.
• Economic development momentum: Launched in 2011, the Georgia Competitiveness Initiative is bringing together industry and government to further strengthen Georgia’s economic development strategy.

You can find out more information on Georgia’s Competitive Advantages here.

 

• Georgia Tax Credits

Georgia has numerous tax credits and incentives for qualifying businesses. These include:

Job Tax Credit	Quality Jobs Tax Credit	Port Tax Credit Bonus
Work Opportunity Tax Credit	Mega Project Tax Credit	Investment Tax Credit
Optional Investment Tax Credit	Research and Development Tax Credit	Retraining Tax Credit
Child-Care Tax Credit	Film, Television and Digital Entertainment Tax Credit

You can find out more information on Georgia’s tax credits here.

 

• Georgia Hiring and Training Assistance

  • Georgia Department of Labor
  • QuickStart Employee Training – georgiaquickstart.org
  • HOPE Scholarship and Grant
  • Georgia Intellectual Capital Partnership Program (ICAPP) icapp.org
  • Retraining Tax Credit

 

• Other Assistance Programs

Valdosta-Lowndes County can help you access federal programs and direct financial assistance offered by local and regional economic development entities. Some of these programs include:

• USDA Business and Industry Loan Guarantees
• USDA Rural Economic Development Loans and Grants
• Entrepreneur and Small Business Loan (ESB) Guarantee Program
• Small Business Administration (SBA) Loans
• Workforce Investment Act
• South Regional Commission

 

• Do I Qualify?

To find out if you qualify for any of the above programs or credits, or to request additional information, please contact our team.