Incentives & Taxes
Local Incentives
In addition to the many locational and environmental advantages to doing business in Barrow County, Georgia
we offer attractive and highly competitive incentives to newly-located and expanding companies. Our incentives are designed and negotiated to both ensure our competitiveness for your project and also to ensure that your company has every competitive advantage during start-up and continuing through long-term operations.
Most Common Local Incentives
Industrial Revenue Bond (IRB) Financing
Taxable and tax-exempt financing may be available for companies seeking to finance the purchase of land, buildings, and equipment for eligible projects. IRB transactions may also result in property tax savings for the company. Eligibility for property tax savings will be determined based on the company's capital investment, job creation, and average wages.
Freeport Tax Exemption
Barrow County has implemented a “Freeport” inventory tax exemption. All inventory is eligible for exemption if the manufacturer, wholesaler, or warehouse distributor meets specific criteria.
Workforce/Hiring/Training Assistance
Barrow County Economic Development works with the Georgia Department of Labor, Georgia’s Quick Start program, and Lanier Technical College to recruit, staff, and/or train employees for industries locating in Barrow County, Georgia.
State Incentives
Georgia offers a range of corporate tax credits that enable companies to minimize or completely eliminate state corporate income taxes
which at 5.75%, are already among the lowest in the nation. For some of the credits, the amounts are dependent on the "tier status" of the community. Tier status refers to an annual four-tier ranking of the economic vitality of Georgia’s counties. The highest credits are offered in the counties with the greatest need (Tier 1 and 2 counties), while the most prosperous counties (Tier 3 and 4 counties) offer lesser amounts. Barrow County, Georgia is a Tier 3 county with a credit of $1,250; an additional $500 per job credit is available due to Barrow County’s participation in the Joint Development Authority of Northeast Georgia.
Credits
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Jobs Tax Credits: provides $1,250/job, min. 15 new jobs created, with a 10-year carry forward
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Quality Jobs Tax Credit: provides $2,500-$5,000 per job with above-average wages for five years
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Investment Tax Credit: provides tax credits equal to 1-3% of qualified capital investment
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Port Tax Credit Bonus: increases Jobs or Investment credits if port activity is increased by 10%
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Mega Project Tax Credit: $5,250 credit for project with 1,800+ jobs or $450+ million investment
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Retraining Tax Credit: credit up to $500/yr per employee for direct investment in training
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Child Care Tax Credit: credit of 75-100% of employer-sponsored child care for employees
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Parolee Tax Credit: provides $2,500/job for hiring an individual granted parole within 12 months of the date of hire
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Small Business Credit Initiative: offers 50% guarantees on loans up to $400,000
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Angel Investor Tax Credit: income tax credit that is 35% of the investment with an individual investor cap of $50,000 per year
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R&D Tax Credit: credit up to 10% of increased qualified R&D expense over gross receipts
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Sales & Use Tax Exemption: on equipment and electricity used directly in manufacturing
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Premium Tax Credit: provides $1,250/job for five years against the annual premium tax applied to insurance companies in the state, min. 15 new jobs created
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Digital Entertainment Tax Credit: up to 30% tax credit to qualified digital/interactive entertainment production companies with a minimum of $250,000 in qualified expenses in Georgia and capped at $1.5 million per company
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Film & Television Tax Credit: up to 30% tax credit to qualified film and television production companies with a minimum of $500,000 in qualified expenses in Georgia
Barrow County Taxes
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Millage Rate: 24.063 (unincorporated)
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Local Sales Tax: 4%
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State Sales Tax: 4%
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Freeport Tax Exemption: 100%
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GA Job Tax Credit: $1,750 per employee, 15 jobs minimum
Georgia State Taxes
Since 2008, companies operating in Georgia use a "Single Factor Gross Receipts" apportionment formula.
This formula substantially reduces Georgia income tax for companies based in the state but that deliver a large portion of products or services to customers outside Georgia. Under the law, Gross Receipts, or sales in Georgia, are the only factor used to determine the amount of a company’s income that is subject to Georgia’s 6% corporate income tax. To many companies, Georgia’s single-factor apportionment formula could mean savings of hundreds of thousands or even millions of dollars over the long term. Locally, Barrow County continually strives to improve our business-friendly environment.
