Grants and Other Finance Options
If your company is looking for support for infrastructure development, workforce training or financing, please let us help you explore these state, federal, and private financing sources. Our office is qualified and experienced to assist you in accessing state, federal and other funding sources to support new and expanding business opportunities. The links below will provide more information and will open in a new window.
The following is a partial listing of financing and funding resources that we have used successfully to support new and expanding business location and expansion:
Appalachian Regional Commission Revolving Loan Fund - Private business loans up to $200,000
Community Development Block Grant - Up to $500,000 in grant funds at 2% interest
CDBG Employment Incentive Program (EIP)- Up to $500,000 financing with 50 low to moderate income jobs
OneGeorgia Authority Equity Grant - Up to $500,000 grant and/or loan financing
B&I Guaranteed Loan Program - Up to $10 million loan by USDA Rural Development
The maximum percentage of guarantee is 80% for loans of $5 million or less and 70% for loans between $5 and $10 million. The total amount of Agency loans to one borrower must not exceed $10 million.
The SCDA is responsible for the recruitment of new businesses including industrial, manufacturing, distribution, corporate and regional headquarters and customer service centers. It also provides support and assistance with all other types of economic development projects.
The SCDA also works with existing businesses and industries to ensure their continued success. While recruitment of new industry is a significant function, aiding in existing industry expansion and retention is just as significant. About 80 percent of all new jobs in Georgia come as a result of existing industry expansion.
Georgia Work Ready
State Tax Credits
Opportunity Zone Tax Credit
Freeport Tax Exemption
Training and Education
Grants & Other Finance Options
Drugs Don't Work
A couple of years ago, the Stephens County Development Authority informed us that we were located in an Opportunity Zone which qualified us for tax credits that were applied to our GA payroll taxes for adding new employees. We were able to realize these savings. We are thankful to our local development authority for making sure that we were taking advantage of all the tax credits available to us.-
From the beginning of our interest in moving to Toccoa-Stephens County, the Stephens County Development Authority made regular trips to our office to make sure we are adjusting to our new home and acclimated to the community resources in Stephens County. They provided a wealth of information on Georgia Business Incentives and tax incentives specific to Stephens County. They introduced us to many connections in Stephens County. We now are well connected with the Department of Labor and attend their monthly meeting and after SCDA's help with some paperwork we have taken advantage of GDOL's Incumbent Worker Program. The Development Authority also shared their long list of local vendors with us and we were able to find our utilities provider, an insurance agent, a computer technician and research local CPAs. Basically, the SCDA is our go to. If we can't figure it out or just need some guidance on an issue we don't hesitate to pick up the phone and call. We definitely appreciate the Stephens County Development Authority's efforts to make Toccoa a great place to do business. They truly make us feel welcome and appreciated in Stephens County!-