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5

Partnership Gwinnett

GWINNETT COMMUNITY PROFILES

BUSINESS INCENTIVES

LOCAL INCENTIVES

Gwinnett County assists companies

in obtaining various state and local

business incentives. Some of the major

incentives include:

• Property Tax Abatement

• Fee Reductions and Waivers

• Streamlined and fast-tracked

permitting, licensing, and inspections

The thresholds to qualify for local

incentives are lower for companies

locating or expanding within

designated Opportunity Zones (OZs),

Tax Allocation Districts (TADs), or Less

Developed Census Tracts (LDCTs).

INDUSTRIAL REVENUE BONDS

Industrial Revenue Bonds are

available through Gwinnett County’s

Development Authority. Revenue Bond

financing includes up to $10 million

in tax-free bonds for the financing of

manufacturing facilities and equipment

at lower-than-market costs.

OPPORTUNITY ZONES (OZs)

The Opportunity Zone program

provides incentives for new businesses

to locate or expand in economically

distressed areas of Gwinnett County

as designated by the Georgia

Department of Community Affairs.

Businesses located in an OZ may

qualify for Tax Credits to encourage job

creation and investment.

• Gwinnett Village Area

• City of Norcross

• Greater Gwinnett Place Area

LESS DEVELOPED CENSUS

TRACTS (LDCTs)

Less Developed Census Tracts (LDCTs)

provide a boost to the regular Georgia

Job Tax Credit for any company type

that qualifies for this benefit. Gwinnett

companies located in a LDCT and

create more than five jobs may receive

credits of up to $3,500 per job, per

year for five years (for a total benefit of

$17,500 per job created).

TAX ALLOCATION DISTRICTS

(TADs)

Tax Allocation Districts (TADs) are

used nationwide as an economic

development incentive to attract quality

development to an underutilized

or distressed redevelopment area.

Georgia’s Redevelopment Powers Law,

gives local governments the authority

to sell bonds to finance infrastructure

and other redevelopment costs within

a specifically defined area. The bonds

are secured by a “tax allocation

increment,” which is the increase in

property tax revenues resulting from the

redevelopment activities taking place

within the TAD. Tax increment financing

allows local governments to charge the

costs of constructing public facilities

and infrastructure to be charged

directly to the businesses that use

them rather than the public at large. In

return, the businesses benefit from the

construction of facilities that might not

otherwise be available to them.

• Gwinnett Place

• Indian Trail

• Jimmy Carter Boulevard

• Lake Lucerne

• Park Place

• Suwanee Gateway

• Duluth-Buford Highway

COMMUNITY IMPROVEMENT

DISTRICTS (CIDs)

A Community Improvement District

(CID) is an association of property

owners in a defined area who voluntarily

tax themselves in order to fund

improvements within the district’s

boundaries. CIDs seek to improve

business development opportunities

and enhance property values by

developing and promoting coordinated

transportation and community character

developments to benefit property

owners, business owners, and residents

in their specific district.

• Gwinnett Place CID

• Gwinnett Village CID

• Lilburn CID

• Evermore CID

• Braselton CID

MORE INFORMATION

For more information, go to

revitalizegwinnett.com

.