Wednesday, March 14, 2012

New Areas Eligible for Tax Incentives

Atlanta's 2012 Less Developed Census Tract (LDCT) areas are out, and they include a number of areas not previously eligible. What this means to business (and property) owners is that the occupants of certain properties can gain a tax credit as high as $3,500 per new job if a number of criteria are met.
  • Property Owners: You'll want to include this information in your property marketing to attract tenants and buyers.
  • Tenants: You'll want to work with a tenant representative who "gets it" so you're positioned to take advantage. To get it, the agent needs to understand the credits and their geography, AND have connections with the state and consultants to insure that any business decisions are reliable.
Gwinnett County's new map appears to the right... you'll see that their LDCT is a major piece of Norcross. (Thanks to Gwinnett economic development for making this information available)

Feel free to reach out for more information or to discuss the specifics of your situation. I've worked with this tax credit on several occasions and am happy to advise... $3,500 per new job can add up quickly if your enterprise is growing!