Georgia Top Credits & Incentives
Businesses operating in the State of Georgia have numerous incentives available to help offset the cost of retraining employees, hiring employees, or making new investments. The credits have been around a long time and have helped to shape Georgia’s image as a great place to do business.
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Georgia Less Developed Census Tracts
The Department of Community Affairs (DCA) is mandated by O.C.G.A. § 48-7-40.1(b) to rank census tracts in the state by the end of each calendar year, specifically December 31. These rankings, which come into effect from January 1 onwards, include census tracts that are “less developed”. These are tracts that share statistical similarities with the lowest 71 (Tier 1) counties and border at least nine similar tracts.
For this ranking, DCA utilizes data from the American Community Survey, specific to less developed census tract designations, accessible up until November 30 of the preceding year. A comprehensive list of the Less Developed Census Tracts for the ongoing year can be found on the DCA GA Gov site. These “less developed” regions are qualified for benefits akin to those of Tier 1 counties.
Alterations in the designation of Less Developed Census Tracts can affect the incentives open to businesses intending to set up or grow in a specific region. Such businesses can also file a Notice of Intent before or on March 31 of the year of alteration. This Notice of Intent is structured to safeguard businesses from any negative implications that might arise due to their reclassification from a less developed census tract.
- Must create at least 5 net new jobs at the business location within the LDCT.
- New jobs must be full-time of at least 35 hours per week.
- Job threshold must be created in the initial year, then maintained for an additional four years.
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