Incentives and Financing

Local Assistance

Valdosta-Lowndes County Development Authority is aggressive in how we can structure a deal. Whether you need direct financial assistance, fast track permitting, workforce assistance, or engineering assistance, we can tailor a package fitting your business needs. Our offerings include:

Our team is ready to help you solve financial challenges by helping you identify, apply for, and speed up the acceptance process for the financial assistance you need. Contact us today to start the process.

Military Zone

The Job Tax Credit Program, as defined in O.C.G.A. § 48-7-40.1, provides additional benefits to specified census tracts or additionally designated areas that are considered to be less developed or have a higher rate of poverty. The military zone designation was added in the 2004 Legislative Session through the passage of House Bill 984. This amendment provides for census tracts that are located adjacent to a military base and have pervasive poverty of at least a 15 percent poverty rate, as reflected in the most recent decennial census, to receive the highest benefit level allowed under the Job Tax Credit Program. It also provides for the credit to be available to any business of any nature, as long as all other program requirements are met. An amendment was made in the 2008 Legislative Session to provide for the job creation threshold to be reduced from 5 jobs to 2 jobs.

Military Zone Tax Credit Incentives qualified projects may receive:

• The maximum Job Tax Credit allowed under law - $3,500 per job created
• The lowest job creation threshold of any job tax credit program - 2 jobs
• Use of Job Tax Credits against 100 percent of Georgia income tax liability and withholding tax
• Allows credit to be claimed by any business of any nature (not limited to the industries in the Business Enterprise definition

To read more on the state's Military Zones, please visit the Georgia Department of Community Affairs website.

Georgia's Competitive Advantages

The State of Georgia offers many business advantages, including:

• Low corporate taxes: Georgia was the first southeastern state to pass single-factor corporate tax apportionment. This legislation applies the 6 percent corporate tax rate only to the portion of income earned inside the state.
• High bond ratings: Georgia is one of a handful of states to have the highest bond ratings (AAA) from all three major municipal bond rating agencies — Moody’s Fitch and Standard & Poor’s.
• Top rankings:  Site Selection magazine ranked Georgia “No. 1 for Business” eight years running (2013-20). That’s based on an analysis of announced projects, the state’s tax climate, and a thorough survey of site selection professionals. Area Development magazine also named Georgia No. 1 for business – for seven straight years (2014-20). And for each of those seven years, the magazine also ranked Georgia No. 1 for Cooperative & Responsive State Government.
• Corporate presence: Because of Georgia’s competitive business environment and ease of access to the global market, 18 Fortune® 500 companies have chosen to locate their worldwide headquarters in Georgia. An additional 32 Fortune® 1000 firms have established their base of operations here, and more than 450 Fortune® 500 companies have a presence in the state.
• Fiscal conservatism: State law mandates that Georgia continuously maintain a balanced state budget. And the state consistently maintains one of the nation’s lowest debt-per-capita levels.
• Business development support: Georgia’s Department of Economic Development has industry experts and project managers whose sole responsibility is to help businesses expand. These professionals connect companies large and small to government and business leaders at home and abroad, represent the state’s industries at conventions and meetings worldwide, and provide a wealth of data and analysis to inform decision-making.
• Community leadership: The Georgia Department of Economic Development (GDEcD), Georgia Chamber of Commerce, and dozens of other development agencies statewide assist businesses in communicating with communities, educating a diverse workforce, and promoting the growth of their industries.

You can find out more information on Georgia’s Competitive Advantages here.

Georgia Tax Credits

Georgia has numerous tax credits and incentives for qualifying businesses. These include:

You can find out more information on Georgia’s tax credits here.

Georgia Hiring and Training Assistance

• Georgia Department of Labor
• QuickStart Employee Training – georgiaquickstart.org
• HOPE Scholarship and Grant
• Georgia Intellectual Capital Partnership Program (ICAPP) icapp.org
• Retraining Tax Credit

Other Assistance Programs

Valdosta-Lowndes County can help you access federal programs and direct financial assistance offered by local and regional economic development entities. Some of these programs include:

• U.S. Economic Development Administration Opportunity Zones
• USDA Business and Industry Loan Guarantees
• USDA Rural Economic Development Loans and Grants
• UGA Small Business Development Center at Valdosta State
• Small Business Administration (SBA) Loans
• Workforce Investment Act
• Southern Georgia Regional Commission

Do I Qualify?

To find out if you qualify for any of the above programs or credits, or to request additional information, please contact our team.