Tax benefits to industry in part last through 2021
Hinesville – The Georgia Department of Community Affairs (DCA) has designated Tradeport East Business Center in Liberty County as an Opportunity Zone.
The Opportunity Zone designation means new or existing businesses that create two or more jobs in Tradeport East will receive the maximum job tax credit allowed under law, $3,500 per job created. As part of the Opportunity Zone tax credits, businesses which are unable to use the credit against their Georgia Income Taxes may claim the excess credit against their withholding taxes.
“We are very pleased DCA has designated our 1,800-acre Tradeport East as an Opportunity Zone,” states Ronald E. Tolley, chief executive officer of the Liberty County Development Authority. “The Opportunity Zone designation will be a valuable tool we use to help recruit and retain industry in Liberty County, so we can add jobs to the local economy.”
The Opportunity Zone designation is valid for tax years 2011 through 2021.