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The DeKalb Office of Economic Development is a “one stop shop”, offering a wide range of services that facilitate the success of small business including:
- Dedicated Project Manager
- Expedited Permitting
- Demographic Research
- Incentive Design
- Workforce Development
- Tourism
- Ombudsman
- Site Selection
- Coordinated Infrastructure and Access Requirements
- Unify Aspects of Existing Public and Private Service Providers
- Small Business Retention and Expansion
For more information about the services offered by the DeKalb Office
of Economic Development, call us at 404-687-2730, or email
us info@decidedekalb.com.
DeKalb Incentives Overview
Enterprise Zones
Qualified business and service enterprises located within eligible census blocks that create at least 5 jobs may be eligible for property tax abatements over 10 years.
Tax Allocation Districts (click here for more information)
Tax Allocation Districts (TADs) are a way for a local government to make challenging redevelopment sites attractive to developers by leveraging future property tax revenues from new development to offer bonds to pay for infrastructure improvements. These bonds are secured by a tax increment, which represents the increase in property tax revenues resulting from redevelopment activities within the TAD district.
Two Year Expansion Tax Credit
Two year tax exemption on the expansion to an existing building (amount of exemption cannot exceed 40% of fair market value before improvements).
No Impact Fees
Currently, DeKalb County does not charge fees against new development projects.
Economic Development Enterprise Fund
Fund set aside to assist companies with fees associated with developing in DeKalb County Enterprise Zones.
100% Freeport Exemption
Exemption on Ad Valorem taxes on inventories, as defined by Georgia law, enjoy a local option tax exemption of 100% in three categories:
- Goods in the process of manufacture
- Raw materials
- Finished products still in possession of the original manufacturer but destined for sale outside of Georgia.
For more information about the incentives offered by DeKalb
County, call us at 404-687-2730, or email us
info@decidedekalb.com
State Incentives
Many other incentives are available through the State of Georgia, including:
Job Tax Credit – Provides for statewide job tax credit for any business or headquarters of any such business engaged in manufacturing, warehousing and distribution, processing, telecommunications, tourism, or research and development industries, but does not include retail businesses. Companies with headquarters in DeKalb creating 25 or more jobs may receive a $750 tax credit.
For more info, contact the Georgia Department of Community Affairs at 404-679-4825 or 404-679-1585 or visit www.dca.state.ga.us/economic/taxcredit.htm
Child Care Tax Credit – Employers who provide or sponsor childcare for employees are eligible for a tax credit of up to 75% of the employers’ direct costs. The credit cannot be more than 50% of the taxpayer’s total state income tax liability for that taxable year. Any credit claimed but not used in any taxable year may be carried forward for five years from the close of the taxable year in which the cost of the operation was incurred.
For more information, contact the Georgia Department of Revenue, Income Tax Division at 404-417-2400 or visit www.gatax.org
Retraining Tax Credit – The Retraining Tax Credit allows some employers to claim certain costs of retraining employees to use new equipment, new technology, or new operating systems. The credit can be worth 50% of the direct costs of retraining full-time employees up to $500 per employee per approved retraining program per year.
For more information, contact the Georgia Department of Technical and Adult Education at 404-679-1703 or visit
www.georgiaquickstart.org
Research and Development Tax Credit – A tax credit is allowed for research expenses for research conducted within Georgia for any business or headquarters of any such business engaged in manufacturing, warehousing and distribution, processing, telecommunications, tourism, or research and development industries.
For more information, contact the Georgia Department of Revenue, In come Tax Division at 404-417-2400 or visit www.gatax.org
Investment Tax Credit – Allows a taxpayer that has operated an existing manufacturing or telecommunications support facility in the state for the previous 3 years to obtain a credit against income tax liability. Companied expanding in DeKalb County must invest $50,000 to receive a 1% credit. That credit increases to 3% for recycling, pollution control and defense conversion activities.
For more info, contact the Georgia Department
of Community Affairs at 404-679-4825 or 404-679-1585 or visit
www.dca.state.ga.us/economic/taxcredit.html
Small Business (fast growth) Tax Credit – Georgia income tax credits are available to a small business having Georgia net taxable income growth of 20% or more each year for 3 consecutive years. The small business credit can be used against 50% of the remaining Georgia income tax liability after all other credits have been applied in a given year.
The credit is available to companies whose total tax liability does not exceed $1.5 million.
For more information, contact the Georgia
Department of Revenue, Income Tax Division at 404-417-2400 or
visit www.gatax.org
Corporate Headquarters Tax Credit Companies establishing or relocating their headquarters in Georgia are eligible to receive an income tax credit of $5,000 per job per year for 5 years if the new jobs pay twice the county average wage rate. A $2,500 tax credit is available if the wages are greater than the county average. The tax credit is available to taxpayers that (1) establish or relocate their headquarters and the headquarters of a subsidiary in Georgia, (2) create 50 or more jobs, (3) invest $1 million, and (4) pay wages that exceed the county average wage rate. Taxpayers who qualify for and take the headquarters tax credit make not take additionally the job or investment tax credit.
Sales and Use Tax Exemptions Manufacturing production machinery is exempt from state and local sales tax. Machinery or components bought to upgrade or replace existing machinery can also be exempt. The exemption covers remanufacturing of aircraft engines and components
For more information on incentives offered by
the State of Georgia, go to
www.georgia.gov
Financial Assistance
Many financial vehicles are available for new and expanding businesses, including:
Development Authority of DeKalb County
The seven-member board was established in 1974 by the DeKalb Board of Commissioners to promote economic development and job creation and retention. It works with DeKalb County Economic Development, the DeKalb Chamber of Commerce and other agencies to provide specialized financing methods via taxable and tax-exempt bonds.
DeKalb Enterprise Business Corporation
DEBCO is a 501(c)(3) non-profit corporation formed to provide loans for small businesses within DeKalb County to assist in the creation of new job opportunities.
DEBCO Revolving Loan Fund
Used to purchase machinery and equipment, real estate acquisition, construction, renovation, or rehabilitation; leasehold (tenant) improvements, purchasing existing business, working capital for purchase of inventory only.
Minimum $10,000
Maximum $50,000
Microloan Program
Used for working capital or to purchase inventory, supplies, furniture, fixtures, machinery and equipment. Funds may not be used to purchase real estate.
Up to $35,000
For more information, click here
UGA’s Small Business Development Center
Provides assistance in business start-up, management, loans, marketing and expansion. The center is managed by the University of Georgia and is sponsored jointly by the U.S. Small Business Administration and the State of Georgia.
For more information, click
here
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