Military zone designation to provide tax incentives for businesses near Fort Gordon

Businesses in three areas adjacent to Fort Gordon might be eligible for a state tax credit incentive for job cre­ation after a military zone designation was recommended by the Development Au­thority of Richmond County.

 

According to Executive Director Walter Sprouse, the Job Tax Credit Program provides benefits to census tracts that are either less developed or have a higher rate of poverty.

The areas near Fort Gor­don fall into the less-developed category, as predominantly commercial with a less dense residential population.

A business could receive a maximum $3,500 tax credit per job created with a minimum of two jobs. The tax credits may be used against income tax liability and withholding taxes.

Because the area is adjacent to a military base, the designation is pre-approved by the state and all that is required is a letter from Richmond County. Sprouse said the development authority will be requesting one be sent to the state this week.

The area is divided into three zones, all adjacent to Fort Gordon and bordered by the Richmond County line and roads Windsor Spring Road, Tobacco Road, Highland Avenue, Deans Bridge Road and Bobby Jones Expressway.

Many existing businesses within the proposed zone could benefit, Sprouse said.

The tax credits also would be a tool in attracting businesses to the area, especially toward south Augusta, he said.

 

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Sat, 08/19/2017 - 01:11

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