City of Toccoa Receives Rural Zone Designation

Press Release

Release: Immediate

Contact:  Christian Hamilton, 706.898.5777

Date: 01/10/2018

RE: Toccoa Awarded Georgia Rural Zone

TOCCOA, GA, January 10, 2018 – The City of Toccoa is pleased to announce that the State of Georgia has designated Toccoa as one of nine inaugural Rural Zones across the state.

According to the Georgia Department of Community Affairs (DCA), “The Rural Zone program was enacted by the State legislature in 2017. Portions of each community – primarily historic downtown areas – are now zoned to allow for tax credits to eligible businesses that create jobs and stimulate economic activity in these communities.” DCA Commissioner Christopher Nunn said, “The courthouse square and historic downtowns have been the lifeblood of Georgia’s rural communities. The purpose of the Rural Zone is to encourage small business investment and job creation to help preserve these small town assets and stimulate economic activity in the community.”

The City of Toccoa’s Main Street District has been designated by DCA as a Rural Zone. Should any current or prospective business or property owners wish to locate to the Main Street District and make use of Rural Zone tax benefits, the following benefits may be utilized:

•          $2,000/year/full-time equivalent job created within the zone for five years. At least two net, new full-time equivalent jobs must be created and maintained in order to qualify for the job credits or any additional credits listed below.
•          Up to $125,000 credit (claimed over 5 years) for investing in the downtown area. This is capped at 25% of the total investment cost, not to exceed $25,000 in credits claimed over five years.
•          Up to $150,000 credit (claimed over 3 years) for rehabilitating structures in the downtown area. This is capped at 30% of the total investment cost, not to exceed $50,000 in credits claimed over the three years.

In reference to this unique designation, City of Toccoa Mayor David Austin said, “We are very proud to receive this honor and designation. It is evident that the State of Georgia sees Toccoa’s downtown district as an area ripe for continued economic revitalization. The fact that, across the state, Toccoa was selected as one of only nine Rural Zones, gives us the edge to bring in businesses and retain businesses in our Main Street District. These tax credits will certainly serve as an incentive to increase the economic viability of our beautiful community.”

Main Street Toccoa plans to host a lunch-and-learn in the near future to assist current and prospective downtown business and property owners with any Rural Zone inquiries they may have.

The Main Street Office is happy to answer any questions regarding the new Rural Zone designation and tax credit incentives. Please contact Main Street Manager Christian Hamilton at 706.898.5777 for inquiries.

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