The 400 North Opportunity Zone

On March 22, 2010 the Georgia Department of Community Affairs approved the 400 North Opportunity Zone. Businesses located in the opportunity zone can take advantage of:

· The maximum job tax credit allowed under law - $3,500 per job created, which can be claimed up to five years.

· The lowest job creation threshold of any job tax credit program in Georgia.

· Use of job tax credits against 100 percent of income tax liability and withholding.

· Expansion of the definition of "business enterprise" to include all businesses of any nature.

Forsyth County is classified as Tier 4 for Georgia job tax credits. Under the Tier 4 rating retail and service establishments are excluded from job tax credits; Businesses must create 25 or more new jobs to quality for job tax credits; and the $1,250 credit is limited to 50% of Georgia income tax liability. However, businesses located within the 400 North Opportunity Zone are eligible for the most attractive job tax credit program offered in Georgia. Any lawful businesses within the opportunity zone can claim the job tax credits; businesses are only required to create two or more new jobs; and the $3,500 credit is claimed against 100% of the business’s Georgia income tax liability, with excess credit claimed against withholding taxes.

A map of the 400 North Opportunity Zone is available on the Planning GIS Viewer. The map layer is included under the 'Overlay District Boundaries' subgroup:

http://maps.forsythco.com/planninggis/

Information on the Opportunity Zone program is available from the Georgia Department of Community Affairs:

http://www.dca.state.ga.us/economic/DevelopmentTools/programs/opportunityZones.asp

Questions from businesses seeking credits should be directed to:

Dawn Sturbaum
Georgia Department of Community Affairs
Community Development and Finance Division
404-679-1585
dawn.sturbaum@dca.ga.gov

Questions regarding Forsyth County’s role in the program should be directed to:

Jerry T. Oberholtzer, Planner
Forsyth County Department of Planning and Community Development
110 East Main Street, Suite 100
Cumming, GA 30040
678-455-8481
GTOberholtzer@ForsythCo.com