Tax Incentives for Development Projects in Atlanta, Georgia: Unlocking Opportunities for Businesses

The city of Atlanta has implemented a range of tax incentives to fund development projects and encourage growth. Invest Atlanta, formerly known as the Atlanta Development Authority (ADA), is the redevelopment agent for all Tax Allocation Districts (TAD) formed in the city. A TAD is a financial incentive tool that issues bonds to pay for infrastructure and other improvements in a designated area. It is not an increase in property taxes, but rather a way to stimulate reinvestment in an area by financing the necessary infrastructure or improvements with future tax revenues. Georgia's R&D tax credit program offers equivalent grants for development and pre-development projects.

Program funding comes from historic preservation tuition rates. Businesses can turn their investment in research and development in Georgia into a significant tax benefit by applying for the credit. The lower amount of two figures is used as the base amount, and then 10% of the R&D investment in Georgia (in one year) above that base amount is used as a tax credit. Creating new jobs in Georgia is another way to reduce (or potentially eliminate) corporate tax liability. The Georgia General Assembly has allocated grants for the preservation of historic properties in Georgia since 1994. All projects that apply for funding from Invest Atlanta, except for TAD funding programs, require a cover letter and recommendation from the NPU.

Projects in the Beltline TAD and Westside TAD neighborhoods of English Avenue and Vine City will require a cover letter and recommendation from the NPU. Georgia's fight against the COVID-19 pandemic includes the creation of a new tax credit bonus for personal protective equipment (PPE) that rewards job creation that expands the manufacture of PPE and hand sanitizers in Georgia. After receiving a complete questionnaire, Invest Atlanta's project managers will review it and contact you with additional questions. For help with tax questions specific to a business in Georgia, contact the Georgia Department of Revenue. With these incentives, businesses can take advantage of the opportunities available to them to fund development projects in Atlanta, Georgia. Businesses looking to take advantage of these incentives should be aware of all available options. Invest Atlanta offers several tax credits and grants that can help businesses reduce their tax liability or fund development projects.

The R&D tax credit program provides businesses with an opportunity to turn their investment into a significant tax benefit. Additionally, creating new jobs in Georgia can also reduce or eliminate corporate tax liability. Finally, the COVID-19 pandemic has led to the creation of a new tax credit bonus for PPE production. These incentives are designed to help businesses fund development projects and encourage growth in Atlanta, Georgia. By taking advantage of these incentives, businesses can unlock opportunities to reduce their tax liability or fund development projects.

With these incentives, businesses can make their investments go further and help stimulate economic growth in Atlanta.