PROGRAM DESCRIPTION

The Georgia Department of Community Affairs, or DCA, has awarded the core business district of downtown Hiawassee a five-year designation as a Rural Zone, beginning January 2021 – December 2026. This designation features a job tax credit, investment credit, and rehabilitation credit within the zone boundaries.  

Rural Zone incentives can be layered with revolving loan funds offered through the Department of Community Affairs and the Georgia Cities Foundation, and several other state and federal programs.

Participation in the Rural Zone could make you ineligible to participate in some other programs, such as the state historic tax credit program.  We can assist you in coordinating with the relevant state agencies to confirm your eligibility for the various programs in which you might be interested.

TAX CREDITS

• A job tax credit of $2,000 per year per full-time equivalent (FTE) job was created within the zone for five years.  At least two net, new full-time equivalent jobs must be created and maintained to qualify for the job credits or any additional Rural Zone credits.
• A credit of up to $125,000 for investing in the zone.  This credit is capped at 25 percent of the total investment cost, not to exceed $25,000 in credits claimed annually over five years.
• A credit of up to $150,000 for rehabilitating structures in the zone.  This credit is capped at 30 percent of the total investment cost, not to exceed $50,000 in credits claimed annually over three years

The tax credits are applied against any income tax liability on the Georgia Corporate Income Tax Return. 

Rural Zone Brochure

Rural Zone Building Rehabilitation Standards

Rural Zone Rules

Rural Zone HB 73 Statue

For more information or to confirm whether a property is in the designated Rural Zone, contact Denise McKay at [email protected] or (706) 896-2202.