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Each project is considered according to the total investment, new job creation and total payroll. The Berrien County Development Authority works closely with all prospects to ensure that available incentives are provided to meet the projects criteria.
Industrial Revenue Bonds (IRBs) are financing instruments issued through the Berrien County Development Authority. Both taxable and tax-exempt industrial revenue bond financing is available at competitive, below-prime interest rates. IRBs provide financing for land, building and equipment acquisition for new and expanding manufacturing plants.
Job Tax Credit: Berrien County is a Tier 1 county. In Tier 1 counties, a business must create and maintain at least 5 net new jobs to be eligible for a credit of $3500 per job. Plus they get an extra $500 for Berrien County being a member of a Region Joint Development Authority.
Berrien County's freeport inventory tax exemption is fully implemented at the 100% level. Exemption from ad valorem taxes for inventories of finished goods held by original manufacturers; raw materials and goods in process; finished goods held by distributors, wholesalers and manufacturers but destined for out-of-state shipment.
Georgia Business Expansion Support Act
Firms providing retraining for employees may receive a tax credit of 25% of their costs, up to $500 per participant, to a maximum of 50% of state income tax liability.
Various sales and use tax exemptions are available for manufacturing operations, material handling equipment, pollution control and electricity used directly in manufacturing a product. Certain provisions apply.
BERRIEN COUNTY DEVELOPMENT AUTHORITY
201 N. DAVIS STREET
NASHVILLE, GEORGIA
229-686-7124
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© 2010 berriendevelopment.com
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