- A 10 year graduated tax abatement for qualified businesses;
- Exemptions or reductions for occupational taxes, license fees, other local fees and taxes;
- In order to quality a business must create at least 5 new jobs, or with residential development or rehabilitation, improvements to the property must be made with a 5:1 Ratio.
The Department of Community Affairs for Georgia requires that an area meet at least three of five criteria to be designated as an Enterprise Zone. Those criteria are as follows:
- Pervasive poverty established using the most current United States decennial census prepared by the U. S. Bureau of Census .
- Unemployment Rate (average for preceding yr.) at least 10% higher than State or significant job dislocation.
- Underdevelopment evidenced by lack of building permits, licenses, land disturbance permits, etc. lower than development activity within local body’s jurisdiction.
- General distress and adverse conditions (population decline, health and safety issues etc.).
- General Blight evidenced by the inclusion of any portion of the nominated area in an urban redevelopment area.
We offer our commendations to the Cobb County Board of Commissioners and Chairman Tim Lee, as well as Community Development Director Rob Hosak and Planning Division Manager Dana Johnson for their work and dedication on these issues. These actions will surely prove beneficial to the county as well as its residents.