Fulton County and the State of Georgia offer specific tax credits, tax exemptions, and incentive programs based on the geographic location of your business.
Opportunity Zone (OZ)
Businesses that locate in a local redevelopment area designated as an Opportunity Zone can take advantage of the State’s highest Job Tax Credit. Fulton County is a Tier 3 Opportunity Zone location, and any business located in a designated OZ and meet the following qualifications will receive $1,750 in job tax credits.
- Job requirement 15 net new jobs;
- Must be permanent full-time jobs working a minimum of 35 hours per week;
- Must pay in excess of the lowest average wage of any county in the state; and
- Must be offered health insurance upon employment, although the employer is not required to pay for such insurance.
The tax credit may be claimed up to five years as long as the jobs are maintained.
Tax Allocation District (TAD)
There have been thirteen TADs created in Fulton County; ten in the City of Atlanta, two in the City of East Point and one in the City of Alpharetta. Businesses that locate within these designated areas can benefit from enhanced infrastructure improvements (e.g., water, sewer, streetscapes and signage) funded by a property tax increment that is allocated for, or placed into, a special fund. For additional information, contact the Select Fulton at 404-612-8078.
Enterprise Zone Designation (EZ)
Fulton County will consider Enterprise Zone designations for major projects on a case-by-case basis. Enterprise Zones offer property tax exemption on a sliding scale for 10 years and were created in order to revitalize certain areas currently experiencing underdevelopment. The creation of enterprise zones encourages private enterprise to invest in and rehabilitate such areas and to create jobs for local residents. In order to be designated as an enterprise zone, a nominated area must meet three of four criteria, established by the state, including evidence of pervasive poverty, above average unemployment, general economic distress, and underdevelopment.
Community Improvement District (CID)
The CID is a self-imposed tax by a majority (51%) of like-minded commercial property owners that earmark the proceeds for infrastructure improvements that are normally provided by a government entity. The funds can be used for projects such as streets, parks, storm water and sewage systems, public transportation, docking or parking facilities. There are seven CIDs in Fulton County:
- North Fulton 400 Corridor;
- Oakley Industrial
- Aerotroopolis Atlanta; and
- Boulevard Improvement District on Fulton Industrial Boulevard.
Located directly east of Hartsfield-Jackson Atlanta International Airport, the Atlanta Tradeport is a 260-acre mixed-use property that offers office/warehouse facilities for the air cargo industry. The Atlanta Tradeport is already designated a Foreign Trade Zone. The zone offers businesses a government sanctioned site where foreign and domestic goods are classified by U.S. Customs as international commerce. While in the zone, materials may be stored, exhibited, distributed, assembled or used in manufacturing operations free of duty until they enter the U.S. marketplace.
Foreign Trade Zones (FTZ)
A federally approved area (industrial park or individual manufacturing or distribution facility) in which goods can be imported without the payment of U.S. Customs duties as long as the goods stay in the FTZ, duties are not paid. Once the goods enter for U.S. consumption, payment is made often at a lower rate.
Georgia’s Freeport law offers manufacturers, distributors, wholesalers and warehouse operations an attractive inventory tax exemption. Fulton County offers 100% inventory tax exemptions for three classes of property:
- Manufacturer’s raw materials and goods-in-process;
- Finished goods produced in Georgia within the last 12 months; and
- Finished goods stored in Georgia within the last 12 months and destined for out-of-state shipment.
The deadline for filing an application for Freeport Exemption with the Board of Tax Assessors is April 1 to receive the full exemption.