Incentives & Financing
Let Us Help Make it Happen!
There are a variety of local and state incentives the Development Authority of Lumpkin County can leverage to successfully support the growth of businesses in Lumpkin County.
One-Stop Shop for Economic Development: Lumpkin County enjoys an excellent business climate with a competitive property tax rate, streamlined permitting process, and aggressive incentives for qualifying new and expanding business ventures.
Georgia Foreign-Trade Zone helps companies in our state thrive in a competitive global environment by reducing the cost of doing business and opening up supply chain efficiencies. We do this by providing companies access to the federal U.S. Foreign-Trade Zone (FTZ) program.
Why Lumpkin County?
Located in the foothills of the Appalachian Mountains with rich history, diverse culture, and unique lifestyle characteristics
Designated “Broadband Ready Community” and “Gigabit Site Designation”
Up-to-date labor profile reports for prospects
Lumpkin County sits at the northern end of SR-400; a limited access highway that is a straight shot to Atlanta
Below national average union membership rate
Competitive real estate and wages
State Corporate Income Tax: 5.75%
100% Freeport Exemption in Lumpkin County (tax exemption on inventory of goods in the process of being manufactured)
Industrial Revenue Bond financing for eligible projects
Established workforce pipelines
Lumpkin County Economic Investment Program
The Development Authority of Lumpkin County is authorized to grant property tax abatements on real property for qualifying new or expanding businesses based on board-authorized guidelines with thresholds for job growth, investment, wage rates and other factors. Projects can be new construction, expansion or renovation within target industries.
- Attract Desirable Companies – Attract companies and business growth in our target industries.
- Create Additional Jobs – Attract new businesses and help existing businesses to create new jobs in the County.
- Expand the County’s Tax Base – Expand the number of businesses and employed workforce to increase the overall population and the County’s tax base.
- Create a Balance – Create a favorable balance in the tax base between businesses and residential development.
State of Georgia Incentives
Business incentives in Georgia drive business growth. The Georgia Department of Economic Development portfolio begins with a tax credit to spur job creation and includes an array of other credits for investing in R&D, shipping through ports, and making key expansion investments. Georgia tax exemptions are just as robust. They can save you lots of money in startup and operating costs.
Job Tax Credits
Creating new jobs in Georgia is a good way to reduce (and potentially eliminate) your company’s corporate tax liability.
The Georgia Job Tax Credit gives you a credit ranging from $1,250 to $4,000 per year for 5 years for every new job created. In certain areas, the credit can also lower your payroll withholding obligations.
Georgia Sales and Use Tax Exemptions
Georgia offers sales and use tax exemptions for Manufacturing Machinery & Equipment, Repair to Industrial Equipment, Raw Materials and Packaging, Energy Used in Manufacturing, Primary Material Handling Equipment, Pollution Control Equipment, Computer Hardware and Software for High Technology Companies, Clean Room Equipment, Water Costs, and Telecommunications Services.
Quick Start Employee Training
Georgia Quick Start – the No. 1 workforce training program in the U.S. – designs, develops and delivers customized workforce training, free of charge, for qualified companies that are creating or retaining jobs in Georgia. Quick Start is a part of the Technical College System of Georgia, and supports new and expanding companies, and specializes in startups and technology transfer. The training is provided as a discretionary incentive to attract investment and job creation to Georgia. Quick Start’s comprehensive training can range from pre-employment assessments to training in advanced manufacturing, Industry 4.0 technologies, and organizational development. Quick Start also develops customized training to meet the needs of companies in numerous business sectors including manufacturing, distribution, customer contact, headquarters and more. Quick Start has worked with companies in business sectors ranging from automotive to aviation, food to biotechnology, chemicals to composites.
WorkSource Georgia is the state’s federally-funded employment and training system, working to connect talent with opportunity. These federal funds are part of a grant program called the Workforce Innovation and Opportunity Act (WIOA). At a local level, WorkSource Georgia provides Workforce Innovation and Opportunity Act services across the state through the Coastal Georgia office. WIOA funds are allotted to individuals or businesses and administered specifically through services geared toward helping disadvantaged citizens obtain meaningful employment.
Georgia’s ‘pro-business” environment is one of the top Pro-Business environments in the nation. It is the product of state statutes, economic development practices and collaboration at every level of government. Here are a few additional facts that illustrate how Georgia speaks business.
Low Corporate Taxes
Georgia was the first southeastern state to pass single-factor corporate tax apportionment.
High Bond Ratings
Georgia is one of a handful of states to have the highest bond ratings (AAA) from all three major municipal bond rating agencies – Moody’s, Fitch and Standard, and Poor’s.
Year after year, Georgia ranks high in the “top 10” state for business list – by Forbes, CNBC and many others. Example: In 2018, a nationwide survey of location consultants named Georgia the Number 1 state in the U.S. for doing business.
Industry giants Home Depot, UPS, Coca-Cola and Delta Airlines are just a few of the 32 Fortune 1000 companies that chose Georgia for their headquarters. And, only New York and Houston have more Fortune 500 companies.
State law mandates that Georgia continuously maintain a balanced state budget. And the state consistently maintains one of the nation’s lowest debt-per-capita levels.
Business Development Support
Georgia’s Department of Economic Development has industry experts and project managers whose sole responsibility is to help businesses expand.
Economic Development Momentum
The Rural Initiatives division of the (GDEcD) launched in 2018 is dedicated to highlighting the amazing resources available for those who prefer the rural lifestyle to locate their businesses and families.