Businesses from around the globe continue to locate and grow in Gwinnett County, and the Gwinnett Place CID stands at the strategic center of this community that consistently ranks among the top in the nation for economic strength.
With thousands of new residents choosing to call Gwinnett County home every year, innovative tax incentives such as the Gwinnett Place Tax Allocation District and Opportunity Zone and a CID committed to infrastructure enhancements, Gwinnett Place is poised to become the new urban core for this most progressive of communities. Investors reap the benefits from a strong and growing business environment at the center of Gwinnett. Active planning by the Gwinnett Place CID builds upon the area’s development dynamics and a growing number of investment projects is creating even more opportunities for success.
Possible Incentives for locating in the Gwinnett Place CID
Gwinnett Place Opportunity Zone:
In December 2012, the Department of Community Affairs approved an Opportunity Zone for the area in and around the Gwinnett Place Community Improvement District. Under this State of Georgia job tax credit, new or existing businesses that create two or more jobs can receive a tax credit of up to $3,500 per job. The job tax credits can be used against 100 percent of the business’s income tax liability and state payroll withholding once your income tax liability has been exhausted. Click here to view a map of the Greater Gwinnett Place Opportunity Zone. For additional information on the Opportunity Zone, visit the Gwinnett Chamber of Commerce Economic Development Web site. Click here to view a Greater Gwinnett Place Opportunity Zone Informational Handout.
Venture Drive Redevelopment Overlay District
In 2016, the Gwinnett County Board of Commissioners created the Venture Drive Redevelopment Overlay District in the Gwinnett Place CID to promote a mix of high-end, dense, residential housing; commercial businesses and office buildings in an urban setting while offering the residents opportunities for recreation and alternative modes of transportation.
Gwinnett Place Historically Underutilized Business Zone (HUBZone):
The Historically Underutilized Business Zone program helps small businesses gain preferential access to federal procurement opportunities. In order to qualify for the HUBZone program, a business must be located in an area designated as HUBZone. Click here for additional information and a map of the HUBZone for the Gwinnett Place area.
Gwinnett County Incentives for Gwinnett Place CID properties:
Because area commercial property owners formed a CID, newly arriving businesses could qualify for incentives designed to foster success:
- Reduced costs for certain applications and permits
- Reduced business occupation taxes
- Reduced water/sewer charges
- Acceleration of development reviews
- Acceleration of public hearings
- Tax increment financing through the Gwinnett Place Tax Allocation District (TAD)
Targeted industries eligible for special consideration include headquarters, advanced communications, IT, healthcare, life sciences and manufacturing/logistics. Qualifying businesses must meet certain employment and investment thresholds, which are more easily obtained in the CID. Click here for information on available Gwinnett County economic development incentives.
Gwinnett Place Tax Allocation District (TAD):
Tax Allocation Districts are used nationwide as an economic development incentive to attract quality development to an underutilized or distressed redevelopment area. Georgia's Redevelopment Powers Law gives local governments the authority to sell bonds to finance infrastructure and other redevelopment costs within a specifically defined area. The Gwinnett Place TAD is one of five county-sponsored TADs and is a prime location for redevelopment projects. More information about the Gwinnett Place TAD is available on the Gwinnett County Government website.
For more information on industry-specific research and in-depth reports, visit SelectGeorgia.
If you represent available properties for sale or lease in the Gwinnett Place area and would like copies of the Gwinnett Place area prospectus for your clients, please contact the CID office at 678-924-8171.