Business Loan Guarantee Program
Offered through the Economic Development Administration, the program can guarantee up to 80 percent of the principal and interest on loans made to private borrowers for fixed assets or working capital. Limited to private lending institutions, guarantees are normally restricted to loans of more than $600,000.
Quick Start Program
For companies opening new facilities or expanding existing operations. Quick start provides complete, customized training services for companies, focusing on entry-level job skills. Specialized workshops for productivity enhancement training are available, and include: Statistical Process Control, Total Quality Manufacturing, Just-In-Time Inventory Control and Employee Involvement workshops such as Team Skills Training.
Freeport Tax Exemption
This incentive is offered to more than 75 percent of Georgia's counties and allows property tax exemptions for three types of inventory: manufacturer's raw materials and goods in process, finished goods held by the original manufacturer and finished goods held by distributors, wholesalers and manufacturers that have shipments with destinations out of state. LaGrange and Troup County both offer a 100% exemption.
Education Tax Credit
Employers are eligible for a $250 corporate income tax credit for each employee successfully completing an approved employer-provided basic skills education program.
Foreign-Trade Zones (FTZs)
Georgia has three FTZs, located in Atlanta (near Hartsfield Atlanta International Airport), Savannah and Brunswick. FTZ's provide significant tax advantages for companies importing foreign goods, especially if the goods are altered or used in manufacturing. Goods may be brought into the zones without formal customs entry, payment of duties or excise taxes. Items held in the zones also are exempt from property taxation. Inside the zones, goods may be processed, consolidated, assembled, repacked, exhibited, manipulated, re-labeled, used in manufacture, shipped back out of the United States or simply stored until needed. FTZ regulations are most advantageous for manufacturers using both domestic and foreign components to build goods for export. They pay no duty on the foreign parts unless the finished products are sold in the United States.
The state has eliminated much of the red tape associated with environmental permits for new sites. Companies now can receive permits within 90 days at a one stop facility through Georgia's Environmental Protection Division of the Department of Natural Resources.