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 three areas of Gwinnett County as Opportunity Zones:
Opportunity Zone Tax Credit Incentives:
*Information courtesy of Georgia Department of Community Affairs
For more information on Georgia’s Opportunity Zone Program, please visit the Georgia Department of Community Affairs’ website.