Take a look at Gwinnett Place stats, facts and Incentives:
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. Venture Drive Overlay District-FAQ Handout.
Gwinnett Place Less Developed Census Tracks (LDCTs)
Less Developed Census Tracts (LDCTs) provide a boost to the regular Georgia Job Tax Credit for any company type that qualifies for this benefit. Companies located in the Gwinnett Place area LDCTs and create more than five jobs may receive credits of up to $3,500 per job, per year for five years (for a total benefit of $17,500 per job created).
•The maximum Job Tax Credit allowed under law – $3,500 per job created, per year, for 5 years
•Only applicable to Georgia Target Industries (as confirmed by the DCA)
•Use of Job Tax Credits against 100 percent of income tax liability and withholding
•Balance applicable towards state payroll withholding
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.