Register to attend by calling the Donalsonville-Seminole County Chamber of Commerce at 229-524-2588
As reported last Fall, the City of Donalsonville has been designated as a RURAL Zone. With that designation, and as of January 1, 2021, the Revitalizing Underdeveloped Rural Areas Legislation (RURAL) now provides tax credits to individuals creating jobs and making qualifying investments within the historic downtown RURAL Zone area of the City of Donalsonville (pictured above).
To develop strategies and to share information about the benefits to businesses and investors, a RURAL Zone webinar has been scheduled for 10:30 a.m. on February 3rd. This informative and engaging online webinar will explain the benefits of the RURAL Zone designation in detail and provide information on other financial resources available to property owners and others interested in downtown investments.
The RURAL Zone program includes the following Georgia state income tax incentives which are utilized for job-creation activities, investment in downtown properties, and renovation of properties: A Job Tax Credit equivalent to $2,000 per new full-time equivalent job per year for up to five years; an Investment Credit equivalent to 25% of the purchase price of a property within the designated Rural Zone (not to exceed $125,000); and a Rehabilitation Credit equivalent to 30% of the qualified rehabilitation costs of a building located within a designated Rural Zone (not to exceed $150,000).