Special designation offers tax credit to downtown businesses
(Greensboro, Ga. – January 10, 2012) The Georgia Department of Community Affairs announced that Greensboro has received an opportunity zone designation to encourage job creation within the much of the city’s commercial districts. The designation allows for a job tax credit for businesses that create a minimum of two new jobs within the district.
“The city expects the opportunity zone designation to help bring new businesses to Greensboro, particularly to downtown,” explains Better Hometown Manager Cail Hammons. “The designation will also help any existing businesses to expand and create new jobs.”
Within the city’s opportunity zone, business may receive a $3,500 tax credit for each new job created with a minimum of two new jobs required. The credit may be claimed for five years.
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