Small business owners have new incentives - WALB.com, Albany News, Weather, Sports

Small business owners have new incentives

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By Karen Cohilas - bio | email

ALBANY, GA (WALB) - People looking to open small businesses in Albany and Dougherty County can take advantage of new incentives.

Parts of downtown Albany were recently designated as an opportunity zone.

Several blocks of Broad Avenue and parts of North Washington Street are included.

An opportunity zone is an area designated as blighted by the Department of community affairs.

New or existing businesses that create two or more jobs can get a tax credit of up to $3,500 per year for five years.

"It's a great incentive to local businesses in downtown Albany because the job tax credits are a big deal in terms of helping the companies bottom lines. We think it will be a great inducement to downtown Albany," said Ted Clem, Economic Development President.

There are also Military and Hub zones in Dougherty County that provide job creation tax credits.

Incentives To Do business

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