Jobs Credits, Retraining, GRAD Certification & Film Incentives...

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Elbert County Business News
Active Filming in Elbert County, GA

Active Filming in Elbert County, GA

Cameras, actors, dancers, and crew, roamed Pyramid Quarry last week as RiTE Media Group filmed a new short film, “Change & Touch,” created by writer/director…

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The Elbert Advantage

Incentives

The Development Authority is in the business of corporate relocation, expansion and retention. While debate goes-on about the cost-effectiveness of incentives, the use of them remains popular. Within Elbert County, we are ready to do business., incentives are only a small part. Try our expertise, people and availability of buildings and land. We treat all businesses equally.

Elbert County Job Tax Credit

Will you be creating at least 10 new jobs?

Each job could be eligible for a credit of $3,000 per job, per year for the first five years.

Each year the Department of Community Affairs (DCA) ranks all Georgia counties based on certain economic factors and divides them into tiers as required by O.C.G.A. 48-7-40(b). The law allows for a statewide job tax credit against Georgia income taxes for any business or headquarters of any such business engaged in:

  • Manufacturing
  • Warehousing & distribution
  • Processing
  • Telecommunications
  • Broadcasting
  • Tourism
  • Research & development industries
  • Services for the elderly or persons with disabilities

ALWAYS CHECK WITH YOUR ACCOUNTANT.

More about Georgia’s Quality Jobs Tax Credit:

Download the map and credit table

More information and stipulations…

Freeport Tax Exemption

Elbert County exempts companies from paying local taxes on qualifying inventory. We offer a 100% exemption on:—I–

– Inventory of goods in the process of being manufactured or produced including raw materials and partly finished goods;

– Inventory of finished goods manufactured or produced within this State held by the manufacturer or producer for a period not to exceed 12 months;

– Inventory of finished goods on January 1 that are stored in a warehouse, dock, or wharf which are destined for shipment outside this State for a period not to exceed 12 months;

Stock in trade of a fulfillment center which on January 1 are stored in the fulfillment center.

Local/Federal Opportunity Zone

The Federal Opportunity Zone is an Investment Credit Program within defined areas. It allows investors to defer the capital gains of other investments into new projects within certain ‘Zone’ areas until the investment is sold or exchanged, or December 31, 2026.

                                  

We greatly appreciate qualifying for the Federal Opportunity Zone and consider it a great economic incentive.

If additional assistance is needed, please contact an Administrator.

Read general information about Federal Opportunity Zones

Federal Opportunity Zones – FAQs

ALWAYS CHECK WITH YOUR ACCOUNTANT.

Local Opportunity Zone-City of Elberton

An Opportunity Zone is a Job Tax Credit program open to any business located within defined areas. So far, we have one Opportunity Zone located within the city of Elberton. For each full-time job (minimum of 2 NEW jobs), a tax credit of $3,500 may be applied to your corporate income tax liability (prior to claiming withholding). This designation went into effect in 2013, designated through 2023.

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We greatly appreciate qualifying for the Opportunity Zone and consider it one of our greatest incentives. If additional assistance is needed, please contact an Administrator.

Elberton Opportunity Zone Map

Opportunity Zone Certification Form

Link to Forms IT-CA and Form IT-WH on the Department of Revenue Site

ALWAYS CHECK WITH YOUR ACCOUNTANT.

Local/State of Georgia GRAD Certified Site – Elberton Industrial Park

GRAD AerialAfter many long hours, certain funding and much vetting, the Development Authority of Elbert County, Elberton & Bowman is more than pleased to announce an incredible new partnership with the State of Georgia, through their Georgia Ready for Accelerated Development program (GRAD). The Authority’s application was unanimously approved by the Steering Committee just this week, certifying the Elberton Industrial Park–placing it at the top of a corporation’s  “short list” when looking for a facility location.

The Georgia Department of Economic Development is in the process of adding the Park to their interactive GRAD site which will automatically place it in front of developers, corporations and site selectors.

The Elberton Industrial Park is only the 60th site in Georgia to earn GRAD certified status.

“Elbert County met twelve category requirements to obtain this designation, and we are the only GRAD certified site east of Athens,” stated Development Authority Economic Director, Rusty Warner. “Partnering with the State will ensure we have additional marketing efforts and reach out, which will help us complete the build-out of these spectacular sites.”

The Industrial Park is an integral component of Elbert County, Elberton & Bowman, perfectly suited for manufacturing or distribution. Already containing a small cluster of international and local businesses, the Park is one of the most recognized in the area.

Read more about the Project

State Quality Jobs Tax Credit

Will you be paying higher-than-average wages (10% higher than the county wage average)?

Will you be creating at least 50 new jobs within the next 12 months?

ALWAYS CHECK WITH YOUR ACCOUNTANT.

 Average Wage Requirement
(% Of County Average)

Tax Credit Value Per New Quality Job
(For 5 years)

 ≥110% and <120%

$2,500

 ≥120% and <150%

$3,000

 ≥150% and <175%

$4,000

 ≥175% and <200%

$4,500

 200% or greater

$5,000

Download average county wages-Contact

More about Georgia’s Quality Jobs Tax Credit:

  • New quality jobs created within seven years of initial eligibility qualify for the credit
  • Credits may offset a company’s payroll withholding once all other corporate income tax liability has been exhausted
  • Credits may be carried forward for 10 years
  • New jobs that do not qualify for Quality Job Tax Credits may still be eligible for Georgia’s job tax credit if they meet requirements for that credit
  • A Quality Job Tax Credit must be claimed within the earlier of the following time periods: a) one year from the date the original return is filed; or, b) one year from the date the return is due (including any approved extension)
  • Georgia Department of Revenue Form IT-QJ must be filed with the income tax return for the company to claim the Quality Jobs Tax Credit. Download Form IT-QJ
  • Companies that prefer to use the Quality Jobs Tax Credit to offset withholding taxes must file Georgia Department of Revenue Form IT-WH 30 days prior to filing the income tax return.

More information…

Work Tax Credit

Hiring individuals who have consistently faced significant barriers to employment?  The tax credit can be from $1,200 to $9,600 per qualified employee, depending on the target group. The most frequently certified WOTC is $2,400 for each adult new hire.

Targeted groups include:

  • Veterans
  • Recipients of the Temporary Assistance for Needy Families (TANF) program
  • Recipients of Supplemental Nutrition Assistance Program benefits
  • Residents who live within Empowerment Zones or Rural Renewal Counties
  • Recipients of vocational rehabilitation from a qualifying agency
  •  Ex-felons
  • Recipients of Supplemental Security Income benefit
  • Summer youth employee

ALWAYS CHECK WITH YOUR ACCOUNTANT.

More Information about the tax credit through the Department of Labor

Film Incentives

Elbert County has received its Camera Ready designation from the Georgia Department of Economic Development. What this means to you is that we are trained to work with production companies to provide one-on-one local assistance. In addition, we know the perfect location for your shoot, and can provide help and insight when it comes to film permits, lodging, etc.

Television and film companies may receive a tax credit of up to 30% of money spent on production and post-production. Minimum spending is $500,000.

Through the Georgia Entertainment Industry Investment Act, Georgia provides a 20% tax credit, with the State providing the other 10%. Little or no tax liability for your company? Transfer your tax credits.

 

According to Broderick Johnson, producer of The Blind Side, through the Georgia Department of Economic Development, “…Georgia’s tax break is one of the best, if not the best in the country.”

For more information about the credit and forms

Read all about the Credit and find your contact!

ALWAYS CHECK WITH YOUR ACCOUNTANT

Retraining workers to use new equipment or new technology?

Businesses can receive a tax credit of 50 percent of their direct training expenses, with up to $500 credit per full-time employee, per training program. The annual maximum of the credit amounts to $1,250 per employee.

Workforce Training

Georgia Quick Start Program

Here at the Elbert County Campus of Athens Technical College

Retraining tax credits can be used to offset up to 50 percent of a company’s Georgia corporate income tax liability. If the earned credit exceeds that limit, then the unused credit can be carried forward for up to 10 years and applied to future years’ tax liability.

Read about, then contact the QuickStart administrators.

Eligible expenses include:

  • – costs of instructors and teaching materials
  • – employee wages during retraining
  • – reasonable travel expenses

 

Any business that files a Georgia income tax return is eligible for the retraining tax credit. To qualify, training programs must be designed to enhance quality and productivity or teach certain software technologies. To qualify for the credit, retraining expenses must be approved by the Technical College System of Georgia.

Additional questions contact Pam Griffin, Director of Organizational Development with Georgia Quick Start, via email or 1+404-253-2871.

ALWAYS CHECK WITH YOUR ACCOUNTANT.

 

Resource Quality Disclaimer: Everything within this site is a free resource, provided by the Development Authority of Elbert County, Elberton & Bowman, Department of Economic Development. Links used throughout the pages are not under the control of the Authority. The Authority does not warrant or accept responsibility for the content or completeness of outside sites. Development Authority of Elbert County, Elberton & Bowman. All Rights Reserved. © 

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