New Business Incentives Offerings 2021
Freeport: Douglas County offers 100% inventory tax exemptions known as “Freeport”. The Freeport exemption is on raw materials and goods in process, finished goods held by manufacturers and finished goods held for out-of-state shipment.
Workforce Solutions and Employee Training: Along with local, regional and state partners, Douglas County will identify training opportunities and resources to meet workforce demands, to include Workforce Investment Funds, QuickStart, Technical College System of Georgia customized training programs, Department of Labor assistance, training credits, screening services and more.
Permitting: Douglas County offers one-stop expedited permitting to all development projects, significantly reducing start-up time and costs.
State of Georgia Job Tax Credits/Douglas County: Douglas County is a Tier 3 county, therefore companies are able to receive a $1,750 job tax credit for creation of 15 full-time jobs in a calendar year. These credits can be taken for 5 years. Excess credits can be carried forward for 10 years.
Bond Financing: Douglas County offers taxable and tax-exempt bond financing on projects resulting in below-market rates for numerous projects. Through this process the Douglas County Economic Development Authority takes title to the personal and/or real property. This is an economical avenue for financing a project when tied to the local property incentive.
Local Tax Incentive: New businesses locating and existing industries expanding in Douglas County may be eligible for our local ad valorem tax incentive. To qualify, a business or industry is awarded points based on the criteria in the below matrix. A minimum of three points is required to be considered for the tax incentive plan, with a minimum of 50 potential points. All plans are five or 10 years long with varying schedules.
For further information, please visit www.developdouglas.com.
The Silverman Group | T 973-765-0100 | www.silvermangroup.net