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Economic Development Financing While we feel that this information is thorough, it does not include every applicable program that could benefit businesses. Please contact the Chamber for more information that is of particular interest to you, your business or your organization. Georgia Department of Community Affairs (www.dca.state.ga.us)
Local Revolving Loan Funds (RLF's) Local RLF's are potential sources of funding for new or expanding businesses in select areas throughout Georgia. The goal of each RLF is the creation of job opportunities, primarily for low and moderate income persons.
Georgia Business Expansion Support Act Executive Summary
Income Tax Credit... Job Tax Credit Job Tax Credit for Joint Development Authorities Investment Tax Credit Optional Investment Tax Credit Retraining Tax Credit Child Tax Credits Research & Development Tax Credits Small Business Growth Companies Tax Credit Ports Activity Job Tax & Investment Tax Credits Headquarters Tax Credit Sales and Use Tax Exemptions
Sales and Use Tax Exemptions... Manufacturing Machinery Computer Sales and Use Tax Exemption Primary Materials Handling Sales and Use Tax Exemption Electricity Sales and Use Tax Exemption
Renewal Communities/Empowerment Zones/Enterprise Communities (RC/EZ/EC) The initiative is designed to stimulate job, economic, and housing growth in the nation's most distressed urban and rural areas. Eligible businesses in federally designated RC/EZ/EC areas can take advantage of additional tax incentives and bond financing.
Georgia Department of Economic Development (GDEcD)
The Georgia Entrepreneur & Small Business Network The network is charged with establishing a comprehensive web portal for communities, entrepreneurs and small business owners to use that will provide access to all state resources, federal resources and foundation grant opportunities.
US Export Assistance Center (USEAC) The USEAC is a multi-agency office providing export assistance. The mission is to increase the number of successful US exporters and their expansion into existing and new markets, create new jobs in Georgia through exports and increase the international competitiveness of US industry by providing a single point of contact for the export assistance programs.
US Small Business Administration (SBA) (www.sba.gov/ga)
Your Business and the SBA The US Small Business Administration is an independent federal agency that provides small business owners with financial assistance, management counseling and training.
Financial Assistance Small Business Loan...SBA offers a variety of loan programs to eligible small business concerns which cannot borrow on reasonable terms from conventional lenders without government help. Guarantee Loan Program...Guaranty loans, under which SBA guarantees up to 85% of the loan which bank or other private lenders agree to make.
Small Business Development Center (SBDC) SBDC provides free managerial and technical counseling, management training programs, research studies and other types of specialized assistance to small businesses.
Service Corps for Retired Executives (SCORE) SCORE volunteers help current and prospective small business owners solve their business problems and make long range plans by providing free counseling and conducting low cost workshops and seminars.
Special Emphasis Areas SBA makes special efforts to help Veterans, Women and Minorities to get into business and become successful business owners and managers.
Business Development The Agency's Business Development program includes free individual counseling, courses, conferences, workshops, problem clinics and a wide range of publications.
Small Business Investment Companies (SBIC) SBA licenses, regulates and provides financial assistance to privately owned and operated small business investment companies. Their major function is to make "venture" or "risk" investments by supplying equity capital and by extending unsecured loans and loans not fully collateralized to small business enterprises.
Contracting License SBA helps businesses obtain a fair share of government business, as required by law.
SBA's Pro-Net Pro-Net is an Internet-based database of information on more than 171,000 small businesses that are seeking federal, state and private contracts. It is open to all firms that are classified as small, and who want to market their goods and services to contracting offices throughout the country. It is designed to be a "virtual" one stop procurement shop.
Surety Bonding SBA is committed to making the bonding process accessible to small and emerging contractors who find bonding unavailable to them.
Small Business Innovation Research (SBIR) Under the program, small businesses propose innovative ideas in competition for Phase I and Phase II awards representing specific R&D needs of the participating 15 federal agencies. Research that goes through the first two phases can result in commercialization of the effort at the Phase III level.
US Department of Agriculture (USDA)/ Rural Development (RD) (www.usda.gov)
Intermediary Relending Program (IRP) The purpose of IRP is to finance business facilities and community development projects in rural areas. This is achieved through loans made by RD to intermediaries. The intermediaries relend the funds to ultimate recipients.
Rural Business Enterprise Grants This is a grant program used to support development of small emerging private business enterprises in rural areas.
Business & Industry Guaranteed Loan Program The program guarantees loans made by commercial lenders against a portion of loss resulting from borrower default. The purpose of the guarantee authority is to improve the economic climate in rural communities in "partnership" with the existing private credit sources by increasing the local lender's legal lending limit and allowing "increased" benefits to return to the lender via sale of both the guaranteed and non-guaranteed portions of the loan.
City & Community Development
"Freeport" Inventory Tax Exemption for Georgia Industries Georgia's freeport law offers manufacturers, distributors, wholesalers, and warehouse operation an attractive inventory tax exemption. Three classes of property are eligible: 1) Manufacturer's raw materials and goods in-process, 2) Finished goods held by the original manufacturer and 3) Finished goods held by distributors, wholesalers, and manufacturers destined for out-of-state shipment.
Georgia Tech's Economic Development Institute (EDI)
Georgia Tech EDI EDI offers an array of services with a common objective: to grow Georgia's economy by providing technology driven solutions to the state's businesses and communities. For business and industry, EDI provides technical assistance, management training and other assistance designed to improve productivity and help companies become more competitive in world markets.
Adult Education & Training
Intellectual Capital Partnership Program (ICAPP) ICAPP is the economic development program of the University System of Georgia. Georgia businesses can contact ICAPP to tap into the resources of Georgia's 34 public colleges and universities for college-educated employees, access to the latest research, access to technology transfer and access to business and operations advice.
QuickStart QuickStart is the state's internationally recognized training program for new, expanding and existing industry. QuickStart develops and delivers a full range of high quality customized training services at no cost to client companies.
***This listing was developed from information presented by the Georgia Department of Community Affairs - Economic Development Financing Packet.***
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