Opportunity Zone

Business owners need not look further for growth incentive. Forsyth County will be the land of opportunity for many businesses who come or reinvest.

A portion of north Forsyth County has officially been named an Opportunity Zone by the Georgia Department of Community Affairs. The Opportunity

Zone status will encourage redevelopment and revitalization efforts by offering the state’s maximum job tax credit of $3,500 per job. This incentive,

which is available for new or existing businesses that create two or more jobs, can be taken against the business’s income tax liability and state

payroll withholding. In 2009 Forsyth County established a need for growth and revitalization for this part of 400 North and in Decemeber sent an

application to the state requesting approval.

Based on the expanded Opportunity Zone benefits, a business that creates two new jobs and maintains the jobs for five years receives $35,000 in

state tax credits. Large employers that create 58 or more jobs and maintain the jobs for five years qualify for over $1,000,000 in state tax credits.

This is just one of the great reason to LIVE, WORK, and PLAY in Cumming/Forsyth Co. Georgia

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