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Here's Where to Get Started.There’s no time like the present to invest in Downtown Washington! We’re here to give you the tools to put the dream investment within reach.
Mark your calendar for Friday May 14 at 9 am. The Washington Downtown Development Authority and F&M Bank are teaming up to offer a Rural Zone Tax Credit Program information session. Attend the program in person at Maddy's Public House, 14 W Square or virtually at the below link: Microsoft Teams meeting Join on your computer or mobile app Click here to join the meeting Learn More | Meeting options |
The Time to Invest in Downtown Washington is NOW!
Get dollar for dollar credit toward your Georgia income tax bill by investing in a business
in our newly approved Rural Zone District!
Washington is excited to add a tax relief element to our already competitive new business incentive package. Rural Zone is an incentive program to stimulate investment, job creation, and economic development that is tailored to the kinds of small independent, local businesses that thrive in a downtown district. Investors can realize credits for job creation in the following categories:
The Job Tax Credit (JTC) will be $2,000 per new full-time equivalent job per year, up to 5 years and not to exceed $200,000 total or $40,000 per year. New full-time equivalent job means an aggregate of employee worked hours totaling 40 hours per week between two or more employees. At least two net, new full-time equivalent jobs must be created to qualify. This credit is for the small business owner who opens a storefront and creates jobs.
The Investment Credit is equivalent to 25% of the purchase price, not to exceed $125,000 total or $25,000 per year. At least two net, new full-time equivalent jobs must be created and maintained to qualify for the investment credit. This credit is for people who purchase a building downtown and cannot be taken unless jobs are created.
The Rehabilitation Credit is equivalent to 30% of the qualified rehabilitation, not to exceed $150,000 total or $50,000 per year. At least two net, new full-time equivalent jobs must be created and maintained to qualify for the rehabilitation credit. This credit is to offset development costs associated with the rehabilitation of a certified investor property.
For More Information: jparker.gov | 706-990-0000
| rural_zone_1-page_fact_sheet_october_2019_002.pdf |
| rural_zone_brochure.pdf |
