Site selectors need accurate information on available land, buildings, tax incentives, financing assistance, workforce characteristics, transportation and power infrastructure and much more to complete an expansion or relocation search.
That’s where the Development Authority of Fulton County, with its expansive “toolbox” of economic development and site selection assets, comes in.
The DAFC regularly partners with site selection consultants and businesses planning to expand and relocate to help them find suitable sites, explore financing and tax incentives, meet with energy suppliers and technology experts, and evaluate the local workforce.
If you’re in a site search, don’t go it alone — let the DAFC use the host of tools in its site selection toolbox, including federal, state and local programs, data and assistance, to help you make the right choice the first time.
Site Selection Assistance
Successful expansions and relocations depend on accurate and complete data, and the DAFC can assist you with everything you need. Whether it’s labor statistics, zoning classifications, or information about transportation, water, energy, communications, land or incentive zones, the “DAFC can quickly provide you with the exact information you need,” says Bob Simmons, DAFC’s Chief Development Officer.
To help you create a short-list of sites, visit the “war room” of the Georgia Resource Center and sit in front of a wall-size viewing screen that displays critical information with overlays of land, infrastructure, workforce and tax incentives perfect for your business. The GRC has the capability to project a building onto a piece of land for your examination prior to visiting the site. Before you land in Georgia, the GRC is able to produce your site selection short list based on data you supplied that was plugged into the GRC site database. The DAFC also provides assistance locating land and available buildings and walking you through the permitting processes.
Financing and Tax Incentives
From industrial revenue bonds and tax credits to worker training and opportunity zones, the DAFC can help reduce your financial legwork as you conduct your site search.
•Revenue Bonds — You’ll have access to a variety of tax-exempt and taxable revenue bonds, including tax incentive bonds, with DAFC helping you through the process. Whether you are involved in a corporate or nonprofit site search, such as for a school or hospital, the DAFC can help.
•Georgia Development Capital Fund — Specific, qualified census tracts within South Fulton County are eligible for the federal New Market Tax Credit (NMTC). The purpose of the program is to attract resources and businesses to areas that have historically had difficulty finding capital. Through Community Development Entities, such as the Georgia Development Capital Fund, qualified businesses can access below-market rate capital. NMTC investments can be used for property acquisition, new construction and rehabilitation of real estate. The New Market Tax Credit can be combined with tax-exempt or taxable bonds, with the DAFC acting as a conduit issuer of the bonds.
“The New Market Tax Credit is a great way to help select projects fill a funding gap,” explains Marva Bryan, the DAFC’s Chief Financial Officer and Business Development Associate. “We can work with qualifying businesses to use the New Market Tax Credit to complete their financing stack.”
•Opportunity Zones — South Fulton County has a number of Opportunity Zones that offer tax-friendly job tax credits of up to $3,500 per worker against state income and withholding taxes. New and existing businesses can qualify by creating as few as two new jobs.