Resources & Incentives
*All incentives are based on credit worthiness, number of jobs created and investment dollars
Property Tax Discount
Based on the number of jobs created, capital investment and through negotiation, the Thomasville Payroll Development Authority (PDA) can provide a graduated property tax discount / abatement. Title to the property in question must be retained by the PDA. This can be accomplished through a lease agreement. The Board of Assessors will value all leasehold interests at the actual PDA project value, and those values will appear on the taxable digest. The following is the graduated schedule:
|0% - Year 1||0% - Year 2||10% - Year 3||20% - Year 4||30% - Year 5|
|44% - Year 6||58%- Year 7||72% - Year 8||86% - Year 9||100% - Year 10|
Based on the credit worthiness of the prospect, the Thomasville Payroll Development Authority has the legal power to issue tax exempt bonds for the financing of capital improvements such as land, buildings and manufacturing equipment. For qualified projects, this can provide low interest financing.
Availability of Loan Programs
The state of Georgia and the US Federal government (EIP) offers many low interest loan programs geared towards job creation. Funds may be applied for through the Thomasville Payroll Development Authority for capital improvements such as land, buildings, manufacturing equipment and infrastructure needs.
Land Donation or Discount
Based on the number of jobs created and capital investment, the Thomasville Payroll Development Authority can discount the price of land or donate land in the Red Hills Business Park. Lots range from 4 to 90 acres and will be equipped with all necessary infrastructure.
BEST – Georgia’s Job Tax Credit
Businesses creating 10 or more jobs in Thomas County may be eligible for a job tax credit of $3,000.00 per employee. The credit begins in the second year of operation and continues for five years. The total tax cannot exceed 50% of the manufactures state corporate tax liability. However, any unused tax credit can be carried forward for ten years. Furthermore, unused tax credits can be used to offset wage withholdings. These must be full time jobs to the state of Georgia and health insurance benefits must be offered to the full time employees (but not necessarily paid for by the employers).
Quick Start is a state of Georgia program to aid new and expanding industries and train their employees. The program is administered by the technical colleges of Georgia and the state pays 100% of the costs for screening, hiring and training of workers.
Other Possible Incentives to Consider:
Build to Suit / Lease Back Arrangement
Preliminary Office Space
Reduced Utility Pricing
Reduced Permitting Fees