The information sessions will be held Wednesday, Nov. 17, and Wednesday, Dec. 1, at the Cartersville-Bartow County Chamber of Commerce. This week's session will last from 3:30 to 4:30 p.m. with featured speakers Mark Fishman and Patrick Vickers. Attendance is free but reservations are needed. To R.S.V.P, e-mail econdev@locationbartow.com.
All eligible businesses may take advantage of tax credits for creating jobs, while those within certain districts will have less criteria to qualify. Two areas within the city of Cartersville and including parts of unincorporated Bartow County have been designated as Less Developed Census Tracts by the Georgia Department of Community Affairs. Due to major job losses within a specific area, these census tracts have been deemed as severely distressed for the losses they have suffered. The areas receiving additional incentive include the area surrounding the former Mohawk plant and the census tract encompassing Trinity Rail and Wheelers.
"These [credits] are another tool that we can use in developing those areas to create jobs and grow the tax base," said Sam Grove, Cartersville city manager. "And, in this economic environment, it's important for us to have as much flexibility and as many tools as we can use to develop Cartersville. They allow for redevelopment and reuse of parcels that are already in the city that don't contribute to sprawl," Grove said. "Overall, it's an efficient use of our tax dollars to have areas already in the city that are maybe a little bit underdeveloped or in need of rehabilitation to be improved."
A press release for the seminars lists eligible business types for this designation, including manufacturing, warehousing and distribution, processing, telecommunications, broadcasting, tourism, and research and development. Representatives from interested businesses, specifically corporate financial officers, plant managers, human resource managers and stakeholders, are encouraged to attend.
"These two sessions will be beneficial to the businesses that are in the list. All of those businesses in Bartow County that have created jobs this year, at least 15 or more, are eligible for job tax credits. Those businesses are the types I would like to see at the sessions," said Melinda Lemmon, executive director of the Department of Economic Development, adding both sessions will have identical content. "We can make the job tax credits even better for businesses that are located within the two less developed census tracts that were just designated by the Department of Community Affairs. Those businesses only have to create five or more jobs and they get a $3,500 job tax credit, but just through the end of this, at this point in time ... Hopefully it will be longer, but that's a really short-term opportunity so they should definitely come."
These short-term designations, available through the end of this year, may be extended further dependent on new census information. Also awaiting approval is a longer-term designation known as Opportunity Zones, which also will include retail businesses and will further reduce eligibility requirements to the creation of two or more jobs.
"The bottom line is the businesses that are in that list, regardless of where they are in Bartow County, really need to come hear this story and see if they can take advantage of some short-term opportunities," Lemmon said. "It could be a very valuable hour for the attendees.
"It will be a very practical, hands-on seminar where the experts will share their story about eligibility and applying for these credits."
Those leading the event are versed in the application process, eligibility requirements and how credits are obtained and utilized. Fishman is a certified public accountant with a masters in taxation and with more than 14 years of experience in public accounting. Vickers is the Economic Development Field Services Representative for the Community Development and Finance Division for the Georgia Department of Community Affairs.