Page 26 - Columbus NCG 2019

VALLEY
PARTNERSHIP
The impact is clear in recent projects,
such as the allocation of more than $100
million to fund cultural arts projects,
vital infrastructure support, the 22-mile
RiverWalk, and the Columbus RiverCenter.
Over the last decade, the region has
experienced the benefits of more than $2.8 Greater Columbus Chamber
billion in new capital investment and 18,000
new jobs. at least 50 net new qualifying jobs during research in Georgia may qualify for an R&D
Among the leading businesses in the a 24-month period, and jobs pay at least tax credit equal to a percentage of that
region are Aflac, Anthem Blue Cross Blue 110% of the average wage in the county. spending increase.
Shield, Kia, Pratt & Whitney, Synovus, and • Port Tax Credit Bonus – an increase in • Retraining Tax Credit – Georgia
TSYS. These companies and others have imports or exports through a Georgia port businesses may offset their investment in
realized the advantages that coincide with by at least 10% may qualify for either a retraining employees to use new
calling the Greater Columbus Region home. $1,250 bonus added to the job tax credit or equipment or learn new skills. The credit
an adjustment to the investment tax credit.
equals 50% of direct training expenses, up
INCENTIVES • Work Opportunity Tax Credit – federal
State of Georgia (if applicable) tax credit to Georgia companies that hire to $500 credit per full-time employee, per
• Job Tax Credits – Most of Greater individuals who have faced barriers to training program.
Columbus is Tier 2 – up to $3,000 credit per employment. The tax credit ranges from • Film, Television and Digital
new job, minimum 10 jobs. $1,200 to $9,000 per hire. Entertainment Tax Credit – Film and
• Quality Jobs Tax Credit - $2,500 to $5,000 • Mega Project Tax Credit – Businesses television companies may receive a
per job, per year for projects that create that employ at least 1,800 “net new” tax credit of up to 30% of money spent
employees and have either on production and post-production in
a minimum annual payroll
Georgia; minimum spending amount
of $150 million or make
is $500,000.
a minimum $450 million
• Musical Tax Credit – Eligible production
investment in Georgia
companies that meet the applicable
may qualify for the mega
spending threshold may receive a tax
project tax credit.
• Investment Tax credit of up to 20% on qualified production
Credit – Companies expenditures on eligible musical or
in manufacturing or theatrical performances or recordings.
telecommunications
support that have Possible Local Incentives
operated in Georgia for • Property discounts
at least three years are
• Industrial revenue bonds-property
eligible to earn investment
tax abatement (requires application,
tax credits of 1 percent to 8
through Development Authority)
percent of qualified capital
• Accelerated permitting timelines
investments of $50,000
• Reduced utility costs
or more.
• Research & • Infrastructure improvements
Development Tax • Freeport tax exemption
Credit – Companies that • Other incentives possible depending on
spend more on qualified scope of project

22 Greater Columbus Georgia Chamber of Commerce | www.columbusgachamber.com | 706.327.1566