Opportunity zone offers tax breaks for job creation
ALBANY, GA -- Efforts to make Albany more business-friendly receive a major boost today.
The Georgia Department of Community Affairs approved the city’s new opportunity zone.
Opportunity zones offer businesses tax incentives for locating in under developed areas with a 15% or greater poverty rate.
The Albany-Dougherty Economic Development Commission says the designation is a vital piece of its urban development plan.
"We hope that it creates jobs," said Justin Strickland of the Albany-Dougherty Economic Development Commission. "That’s the intent, is that people will, when they’re expanding, choose to locate in this zone because of the job tax credit."
The major portion of the opportunity zone stretches down Broad Avenue from the Flint River to Slappey Boulevard.
TV Station Profiles & Public Inspection Files forWFXL