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The City of Brunswick and Glynn County offer several local incentive programs. Boasting an extensive logistics system, global access, a talented workforce and an unbeatable quality of life, the “hub of the Southeast” is prime for taking your company to the next level.
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Enterprise Zone Incentive Program
The State Enterprise Zone program intends to improve geographic areas within cities and counties suffering from disinvestment, underdevelopment, and economic decline, encouraging private businesses to reinvest and rehabilitate such areas. Incentives include:
- Local property tax exemption
- Local abatement or reduction in occupation taxes, regulatory fees, building inspection fees, and other fees that would otherwise be imposed on qualifying business
Commercial Property Enhancement Grant Program (CPEG)
Using American Rescue Plan Act dollars, the Commercial Property Enhancement Grant is designed to make aesthetic and structural improvements to Brunswick’s commercial districts and the properties that exist within them. The program offers matching funds with award floor of $7,500 and award ceiling of $25,000.
Georgia Cities Foundation Revolving Loan Fund
Similar to the DDRLF, the Georgia Cities RLF provides below-market-rate loans for projects in Downtown Development Authority areas. Projects should encourage spin-off development, add jobs, promote downtown housing, or add to the cultural enrichment of the community.
The Brunswick Downtown Development Authority (DDA), created the Façade Grant Program to encourage exterior improvements to properties and promote economic development in the DDA district. This reimbursement matching grant preserves and restores historic properties and details, and encourages projects that are compatible with Downtown’s historic character.
Grant money will be awarded on a matching basis for eligible expenses. Limits are $500 on signage & $1000 on building elements per address. Large development projects* are subject to a $5,000 maximum. Grants are limited to one (1) per business mailing address during any 12-month period for building elements and one (1) per business during any 12-month period for signage. Funds are generally available from August to January each year.
Jump Start Grant
The Jump Start Grant program is a joint project of the Brunswick Downtown Development Authority and the City of Brunswick—a reimbursement grant available to business start-ups based in the Brunswick DDA district that have not yet begun trading. The grant covers up to 100% of eligible costs to a maximum of $2,000. This program has closed for 2019.
Georgia Heritage Grant Program
Offers matching funds on a statewide competitive basis to local governments and nonprofit organizations (except for religious organizations) for the preservation of Georgia Register and National Register-eligible historic properties. The program provides matching grants for development and predevelopment projects. Program funding is provided by historic preservation license plate fees.
Historic Preservation Fund Grant
Provides pass-through grant funding to Certified Local Governments. Eligible activities include surveys, National Register nominations, design guidelines, brochures, website development, heritage education materials, workshops/conferences, etc. Eligible predevelopment projects include activities such as historic structure reports, preservation plans, or architectural drawings and specifications.
T.A.D Tax Allocation District
Georgia’s Redevelopment Powers Law gives local governments the authority to sell bonds to finance infrastructure and other redevelopment costs within a specially defined area— a tax allocation district or TAD. The bonds are secured by a “tax allocation increment,” which is the increase in property tax revenues resulting from redevelopment activities. As public improvements and private investment take place in a TAD, the taxable value of property increases. The city/county collects those revenues, putting the increase into a special fund to pay off the bonds or loans that financed the public improvements.
Georgia Investment Tax Credit
Existing Georgia companies that have operated a manufacturing or telecommunications facility or manufacturing or telecommunications support facility in Georgia for at least three years, and that make a minimum $50,000 additional qualified capital investment in a new or existing manufacturing or telecommunications facility may claim from one to five percent (depending on tier status) of the new investment as a tax credit. Qualified investment expenses include, but are not limited to, amounts expended on land acquisition, improvements, buildings, building improvements, and machinery and equipment to be used in the manufacturing or telecommunications facility. Higher credits (three to eight percent, depending on tier status) are available for investments in recycling or pollution control equipment, and for converting defense plant manufacturing to a new product.
Glynn County is a Tier 3 community; this means the credit value would be 1% – 3% of the total investment, with a minimum investment of $50,000. This credit is used to offset 50% of the state tax liability and can be carried forward for 10 years.
Foreign Trade Zone Designation
Foreign Trade Zones are a huge benefit for companies that import and export. The Brunswick and Glynn County Development Authority is one of three Foreign Trade Zone Administrators in Georgia and we can help you get started.
Port Tax Credit
The Port Tax Credit Bonus is available to taxpayers who qualify for the Jobs Tax Credit or the Investment Tax Credit, and increase imports or exports through a Georgia port by 10 percent over the previous or base year.
Port Tax Credit Bonus for INVESTMENT Tax Credit
This “port bonus” increases the Investment Tax Credit to the equivalent of a Tier 1 location regardless of tier level. The port bonus would therefore be equal to five percent of the qualified investment in expenses directly related to manufacturing or providing telecommunication services with the credit increasing to eight percent for recycling, pollution control and defense conversion.
Retraining Tax Credit
A company’s direct investment in training can be claimed as a tax credit—up to 50 percent of the employer’s direct cost up to $500 per approved training program. The total amount of credit cannot exceed $1,250 per employee per year. Training programs must be approved by the Technical College System of Georgia. This tax credit can be used to offset up to 50 percent of a company’s state income tax liability. The credit is available to all Georgia businesses that file a Georgia income tax return. The retraining program must be for quality and productivity enhancements and certain software technologies. Unused credits can be carried forward 10 years. These credits can be combined with other tax credits.
Sales and Use Tax Exemption for Machinery and Equipment
Georgia allows sales tax exemption for manufacturers and distribution centers on the acquisition of equipment that is integral to the manufacturing process, as well as primary material handling equipment. In most counties in Georgia, this incentive offers a savings of 7% of the purchase price of manufacturing, material handling, and pollution-control equipment.
Department of Labor
The Georgia Department of Labor (GDoL) provides free pre-employment services for new and expanding businesses. The GDoL will market open job positions, accept applications, pre-screen applications, and provide temporary space for interviews.
Share the Future Fund
New aerospace, manufacturing or distribution businesses locating in Glynn County that create a minimum of 15 jobs may be eligible for discretionary funds to assist with payment of local site development permit fees or other expenses as approved by the Brunswick & Glynn County Development Authority.
Revolving Loan Fund
New or existing Glynn County Businesses that create jobs for low-moderate income individuals may be eligible. Funds may be used to purchase machinery/equipment or real estate. Up to $20,000 for each new job created may be awarded, with an award maximum of $100,000 are per eligible project.
Georgia’s Quick Start Training Incentive
Workforce training in Georgia is provided through several initiatives. The state’s signature program is Georgia Quick Start—a free program customized for companies in numerous industries. Quick Start has updated the skill sets of nearly 1 million employees at 6,200 companies. Quick Start helps companies maintain a competitive advantage by preparing workers for skill sets needed tomorrow as well as today.
- A Quick Start training regimen is shaped specifically for the skills that a company is looking to develop in its employees
- Training is conducted in classrooms, mobile labs, or onsite at the company
- Quick Start is provided at no charge by the Technical College System of Georgia
- The program is versatile: Quick Start has prepared workers to assemble intricate aircraft components, grow bacteria for vaccines, manufacture plastic and metal products, and field inquiries from customers by phone or online
The Georgia Historic Preservation Tax Credit
Federal Tax Incentives: Available are two types of incentives including a federal income tax credit equal to 20 percent of the project’s Qualified Rehabilitation Expenditures, or a charitable contribution deduction taken in the form of a conservation easement.
State Tax Incentives: Available are two types of incentives, including a state income tax credit equal to 25 percent of the project’s Qualified Rehabilitation Expenditures and a property tax freeze for 8 and a half years.