Depending upon the scope of the project and the corresponding economic impact to the Community, Toccoa-Stephens County may be able to provide incentives.

Also, the Stephens County Development Authority also has the potential to offer both tax-exempt and taxable industrial development revenue bond financing to qualifying firms desiring to lease or to own. The Authority will aggressively seek to structure project financing most advantageous to the company.

The following incentives are on the State level for your review and consideration. Our Regional Representative is Carole Ciriacks, 604 Washington Street, Suite B-4, Gainesville, GA 30501. (770) 538-2756 or email: cciriacks@georgia.org

Please see the website for the forms required and additional information on how to submit: www.georgia.org

1. FREEPORT TAX EXEMPTION:

Stephens County provides the maximum personal property tax exemption on business inventory allowable under Georgia law, 100%, on the following three classes of property:

a. Manufacturer’s raw materials and goods-in-process inventory;

b. Manufacturer’s finished goods held by the original manufacturer; and

c. Warehouse, distribution, or manufacturing firms with finished goods destined to be shipped outside of Georgia.

2. SALES TAX EXEMPTION – NEW MANUFACTURING EQUIPMENT:

State sales tax exemptions are available on certain classes of manufacturing equipment and for pollution control equipment. Sales tax exemption including 4% state sales tax and 3% local sales tax or 7% total possible sales tax exemption allowed is dependent upon which option the Company elects to utilize and only one can be chosen:

a. the regular investment tax credit,

b. the jobs tax credit,

c. the optional investment tax credit.

The amount of such credits may be subject to certain job and investment requirements imposed by law.

3. GEORGIA JOBS TAX CREDIT:

Georgia Jobs Tax Credit will provide the Company a state corporate income tax credit of $3,000 per year for each new job created each year over a five-year period. Unused credits can also be carried forward for another five years.

OR

INVESTMENT TAX CREDIT:

Companies expanding in Tier 2 counties must invest $50,000 to receive a 3% tax credit. That credit increases to 5% for recycling, pollution control, and defense conversion activities.

4. CHILD CARE CREDIT:

Employers who provide or sponsor child care for employees are eligible for a tax credit of up to 75% of the direct cost of operation to the employer. The credit cannot exceed more than 50% of the taxpayer’s total state income tax liability for that taxable year.

5. RETRAINING TAX CREDIT:

Employers who provide retraining for employees are eligible for a tax credit equal to 50% of the costs of retraining each full-time employee up to $500. The training must:

a. Enhance the skills of employees otherwise unable to function effectively on new equipment;

b. Be approved by the Department of Technical and Adult Education; and

c. Be provided at no cost to the employee.

6. QUICK START TRAINING:

Georgia’s highly acclaimed training program offers sophisticated customized training, jointly developed with your Company. This cost-free program covers development of all training plans and materials, plus actual training conducted in the Company’s facilities or in one of the state-of-the-art vocational-technical schools. See www.georgiaquickstart.org or contact our local representative from North Georgia Technical College Vice President of Economic Development, Dr. Judy Taylor at: (706)-754-7736 or by email: jtaylor@northgatech.edu for more information about this valuable program and other available services.