Georgia names seven new cities as rural zones for economic incentives

Christopher Nunn, Commissioner of the Georgia Department of Community Affairs
Christopher Nunn, Commissioner of the Georgia Department of Community Affairs
0Comments

Seven Georgia cities—Alma, Barnesville, Blairsville, Elberton, Folkston, Grantville, and Summerville—will receive the Rural Zone designation starting January 1, 2026. This status will remain in effect until December 31, 2030.

The Rural Zone program is a joint effort by the Georgia Department of Community Affairs (DCA) and the Department of Economic Development. Launched in 2017, the initiative offers tax credits to individuals who create jobs or make qualifying investments within designated historic downtown areas during a five-year period.

Three types of state income tax incentives are available for businesses and investors in these zones. Job Tax Credits provide $2,000 per year for each new full-time-equivalent job created for up to five years. Investment Credits allow recipients to claim 25 percent of the purchase price of property within a Rural Zone, with a maximum credit of $125,000. Rehabilitation Credits cover 30 percent of qualified rehabilitation costs for buildings located in a Rural Zone, up to $150,000.

According to the announcement: “Each community is encouraged to develop strategies and share information about the benefits of designation to businesses and investors.”

The DCA describes its mission as partnering with communities across Georgia to support neighborhood development and economic growth through various programs. The agency uses state and federal resources to help communities promote private job creation, plan downtown improvements, increase affordable housing options, and encourage volunteerism. It also assists qualified residents with home purchases and efforts to prevent foreclosure or homelessness. More information can be found at dca.georgia.gov.



Related

Scott M. Brinker, President and Chief Executive Officer

Healthpeak affiliate acquires Cobb County senior housing for $240 million

Healthpeak Properties’ affiliate has purchased two major senior living communities in Cobb County for $240 million as part of Janus Living’s launch. The move reflects growing investor interest amid rising demand for senior housing driven by demographic trends.

John Ahmann, President & CEO

Westside Future Fund secures $47 million for affordable housing project in Atlanta

Westside Future Fund has secured $47 million to build a new affordable housing project in Atlanta’s English Avenue neighborhood. The North+Oliver development will offer 120 rental units aimed at low- and moderate-income families. Construction is set to begin later this year with completion expected by 2028.

Christopher Nunn, Commissioner of the Georgia Department of Community Affairs

Georgia adds eight new resources to the National Register of Historic Places

Eight new sites across Georgia have been added to the National Register of Historic Places. The listings highlight significant contributions in architecture, civil rights history, industry, and community development.

Trending

The Weekly Newsletter

Sign-up for the Weekly Newsletter from Savannah Business Daily.