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Harris
Waste Management |
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Norbord |
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Marvair |
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Classic
Surrounds |
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MBM |
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Griffin
Lumber Company |
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Folsom
Construction |
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Nationwide
Homes |
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Helena
Chemical |
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Drexel
Chemical |
Cordele-Crisp County
Industrial Development Council
202 S. 7th St, PO Box 38 (31010)
Cordele, Georgia 31015
Office (229)
273-9570
FAX
(229) 273-9571
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Home >>> >>> Incentives
Incentives.
Cordele affords corporate projects an environment that minimizes
fixed operating costs and also takes advantages of a location
facilitating the flow of both raw materials and finished products
on Interstate 75. The geographical location for Cordele lies
squarely between the two fastest growing markets in the Southeastern
United States and takes full advantages of the six interchanges
along 1-75 and the three railroads that serve Cordele.
Other factors contributing to firms within Cordele/Crisp County
retaining an edge over the competition are in the sections below.
Home >>> Incentives >>> Financial
Financial Incentives.
Industrial Revenue Bond Financing.
The Crisp County-Cordele County Industrial Development Authority
offers an attractive alternative to conventional financing through
the issuance of Industrial Revenue Bonds (IRB's). This financing
mechanism can offer considerable savings for projects and the
CCIDA stands ready to guide qualified companies through this
process. Both taxable and tax-exempt industrial revenue bond
financing is provided through two local development authorities
within Cordele/Crisp County. We have the ability and experience
to structure either an owner-occupied or lease-back project.
This mechanism which affords fixed asset financing for manufacturing
projects. (Based on availability at time of request). In addition
to the bond financing, the CCIDA can assist companies in exploring
alternate financing programs such as those offered through the
US Small Business Administration and other business lender programs.
504 Program.
Administered through the River Valley Regional Commission, this
program represents another opportunity for long-term fixed asset
financing that can be coupled with local bank participation
to provide your company with both competitive rates and terms
on land, building and equipment.
FmHA and CDBG Programs.
The Farmers Home Administration Business and Industry program
provides a 90% guarantee up to $2 million with its fixed asset
program. The Georgia Department of Community Affairs administers
the Community Development Block Grant program to cities and
counties. The grant is then loaned to eligible companies, increasing
and/or retaining employment, at less than prime interest rates.
Both the City and County maintain a revolving loan fund (RLF)
through the CDBG program.
Local Revolving Loan Funds (RLF).
Both the City of Cordele and Board of County Commissioners administer
revolving loan funds that have been capitalized by CDBG projects
previously approved by the State of Georgia. Rates for fixed
asset financing range from two to one-half points below prime
while terms are generally determined by the economic life of
the asset financed. Fund balances will vary as loan payments
are made.
Alternative Solutions. The CCIDA Board of Directors will
assess the overall economic impact of each project to determine
potential areas where additional incentive measures could be
appropriate. Such incentives may range from requests for state
grant assistance to discounted site costs for publicly owned
industrial sites to other areas of consideration as identified
by prospects during the site selection process.
Home >>> Incentives >>> Tax
Tax Incentives.
Property Tax Schedule - The Crisp County-Cordele Industrial
Development Authority may develop a revised tax schedule for
new Real and Personal property for qualifying projects. This
approach is intended to offer the greatest benefit in the early
years of the project for qualifying companies. Projects must
satisfy certain financial requirements as well as new job creation,
payroll and capital investment thresholds in order to take advantage
of this program.
A complete breakdown of the 2010 local ad valorem tax effort
is as follows:
| TAX RATE
X 40% RATIO = EFFECTIVE TAX RATE |
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CITY |
10.289 |
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COUNTY |
10.749 |
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SCHOOL
M & O |
16.450 |
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STATE |
.250 |
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38.444 |
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The following represents the tax savings you could
expect to receive under the 2010 mill levies:
2,000,000
40% |
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Hypothetical
Eligible Personal Property
Fair Market Value |
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800,000
.038444 |
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Assessed
Valuation
City/County Levy |
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| 30,755.20 |
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Freeport Inventory Tax Exemption.
Both Cordele and Crisp County offer a Freeport 100%, tax exemption
on the following classes of personal property:
1. Manufacturer's raw materials and goods-in-process inventory;
2. Manufacturer's finished goods produced in Georgia within
the last 12 months and held by the original manufacturer; and
3. Warehouse, distribution, or manufacturing firms with finished
goods destined to be shipped outside Georgia.
Georgia Sales Tax Exemption on
new Manufacturing Equipment. State
sales tax exemption on certain classes of manufacturing equipment
is available. Exemption for 4% state sales tax and up to 3%
local sales tax authorized for eligible machinery - 7% total
possible sales tax exemption on eligible manufacturing and/or
pollution control equipment.
Georgia Jobs Tax Credit.
This incentive will provide the company with a state corporate
income tax credit of $4000 for each new job created. The company
is entitled to the tax credit provided they hire 5 or more full
time employees. 2009 Job Tax Credit/One Georgia Tiers Map.
Empowerment Zone Job Tax Credit.
In addition to the Georgia Tax Credit an additional EZ Credit
of $3,000 per job is available for each job created. The credit
is applied toward the net Federal Tax Liability.
Education Tax Credit.
The company is also eligible for a $150 corporate income tax
credit for each employee successfully completing an approved
employer provided basic skills education program. Firms providing
retraining for employees may receive a tax credit of 50 percent
of their costs, up to $500 per participant, to a maximum of
50 percent of state income tax liability.
Home >>> Incentives >>> Other
Local Incentives
Other Local Incentives.
Electrical
Power Savings.
Electrical power costs have ranged less than other major Georgia
utility companies during the past ten years due to our generation
of low-cost, debt-free hydroelectric power and because of being
a founding member of the Municipal Electric Authority of Georgia
(MEAG). Providing a sample bill showing usage (KWH) and demand
(KW) will enable us to provide you an example of specific cost-
savings.
Employee Recruitment
and Training Assistance.
The Cordele/Crisp Industrial Development Council will also,
upon request, coordinate assistance provided by the local Georgia
Department of Labor office, South Georgia Technical College
and the River Valley Regional Commission in order to provide
the company maximum utilization of all available labor recruitment
and training programs. The Georgia Quick-Start Training, the
State's premier training program, is available for the majority
of business & industry relocations. The local Georgia Department
of Labor office will also effectively recruit, interview and
screen prospective employees for your company.
RETURN
to HOMEPAGE >>>
Please call, email, or write
with any questions, comments, or request you may have.
We are happy to assist you in anyway possible. Thank you
for your interests and we look forward to hearing from
you.
CORDELE - CRISP INDUSTRIAL DEVELOPMENT COUNCIL
202 S. 7th St, PO Box 38 (31010)
Cordele, Georgia 31015
Bruce Drennan, Executive Director
Phone: (229) 273-9570 Fax: (229) 273-9571
Email: brucedrennan@crispidc.com |
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The Cordele Intermodal Center is Opening for Business in Mid
2010 |
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The upcoming Cordele Intermodal Center is the rail to truck
connection between the Port of Savannah and I-75 at Cordele,
Georgia. More
Info >>> |
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Location,
Location, Location. |
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Cordele and Crisp County is located off of Interstate 75 just
2 hours south Atlanta in the sunbelt of central Georgia. Find
out why our area features good prospects for business and an
easy living southern lifestyle. Read
More >>> |
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The
Inner Port is Coming! |
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Learn all about the Cordele Intermodal Center also known as
Georgia's inner port. Read
More >>>
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