Prepared for Neil S. | Delivered September 7, 2020
Atlanta, Georgia - State and Local Incentive Schemes: Software Company
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Understand the available programs and incentives for a software company creating jobs in Atlanta, Georgia.
Georgia has a long history of offering job tax credits. Georgia’s
Job Tax Credit
has been in place for
years; the Quality Jobs Tax Credit has been implemented for 15 years.
There are varying benefits and qualifications for the tax credits, depending on where a business invests. Investments in
areas of the state have more benefits. However, there are restrictions across all tiers. Jobs have to be maintained for
and credit value is earned in the
first five years.
Atlanta in particular requires
new jobs to be created at minimum over
months to qualify for tax credits.
is one of the industries that can qualify for job tax credits. Each job must have
hours of work a week, offer health insurance, and pay more than the average wage of the county with the lowest average wage.
Quality Job Tax Credit (QJTC)
is a separate scheme that targets higher paying jobs (defined as 110% of the county's average wage). Depending on the county, the number of jobs needed to qualify for a tax credit of this type varies. QJTC runs on a 7-year cycle, meaning a company can earn additional tax credits by creating new jobs within that period. After that, new jobs created don't earn QJTCs until the company has created enough quality jobs to qualify for the minimum number in that county within 12-24 months, at which point they can start a new cycle.
A company that invests at least
in a new facility (subject to regulations) can open a second 7-year cycle.
There are also job creation tax credits associated with
, which requires hiring 1,800 net new full-time employees. It is currently
per job per tax credit.
Georgia also has services unrelated to tax credits for employment. The state offers
Quick Start Employee Training,
which can help companies assess candidates and train them for success. The
Georgia Department of Labor
also posts jobs, provides referrals and interview spaces, and runs job fairs.
Regional Economic Business Assistance
helps businesses that can prove job creation with a robust plan. It can help finance
fixed-asset needs of a company, like infrastructure, real estate, and equipment.
Atlanta has an
Economic Opportunity Fund
that can provide grants to help a business set up, based on criteria that includes job creation.
makes it easy for businesses to create jobs by helping source and train a workforce.
The Opportunity Loan Fund provides
for small- to medium-sized businesses that create at least five new jobs.
While there are several government-driven programs in place that incentivize job creation in particular for software companies in Atlanta, there are other reasons that the city is named the "Silicon Valley of the South". These include incentives targeted
tax credits, and tax waivers for businesses focused on
new and emerging tech