The Sumter County Development Authority offers various local and state incentives to create an environment that is conducive to growth for businesses and the community.
The Authority provides Financing, Land Management, Marketing, Industrial Parks with Full Service Utilities, and Infrastructure Development to qualified companies looking to establish new operations, expand or relocate. Additionally, the Authority develops properties, initiates marketing programs and provides financing packages for qualified companies in the form of loans or grants. If you have an interest, we are ready to discuss economic development opportunities in Sumter County!
Our Authority board actively works with existing and prospective businesses considering Sumter as their location for growing and creating jobs.
Our executive director can always be reached and is proactive with outside-the-box thinking, innovation, and creativity.
As a “tier-one” State of Georgia designated county, Sumter County businesses are eligible for state job tax credits of up to $4,000 for jobs created. See Program Link: Georgia Job Tax Credit Program. This credit may offst up to 50% of a corporation's state income tax liability.
Both the City of Americus and Sumter County offer Freeport Inventory Tax Exemptions at 100% on the following classes of personal property:
Sumter County and its cities work together to make sure your project is running without delay, and the Authority is your liaison.
'In the Zone' means Sumter businesses can gain preferential access to federal contract awards and are able to receive a 10% price evaluation preference. Get your business certified as a HUBZone vendor, an SBA program for small companies operating within certain areas of the country. Sumter County is a certified HUBZone. This means your company can receive a 10% price preference in full and open procurements. The federal government has a goal to award at to be least 3% of all federal contracting dollars to HUBZone certified small businesses. Follow six easy steps through the below link.
The State of Georgia offers a wide array of incentives to support private sector growth in the state. Frequently named the “Top State for Doing Business,” state incentives and resources are partnered with local communities to development the perfect partnerships for growth. Sumter County is designated a State of Georgia “Tier-One” County, which is a state job tax credit allowing for up to $4,000 in tax credits for jobs created in various sectors. The Development Authority is ready to assist you in securing State of Georgia resources and incentives.
Georgia became the first state in the Southeast to adopt a “Single Factor Gross Receipts” apportionment formula. This apportionment formula treats a company’s gross receipts (or sales) in Georgia as the only relevant factor in determining the portion of that company’s income subject to Georgia’s six percent corporate income tax. Georgia is one of only 13 states exclusively using Single Factor Apportionment. Most states still use a traditional apportionment formula in which a company’s in-state property and payroll factor into the calculation of a company’s corporate income tax. Single Factor Apportionment significantly reduces the effective rate of Georgia income taxation of companies with substantial sales to customers outside Georgia. In addition, Georgia does not use the so-called “Throw Back Rule,” which many states use to tax income from sales of goods or services to out-of-state customers if the customer’s state does not already tax that income.
Sumter County has received its Camera Ready designation from the Georgia Department of Economic Development. What this means to you is that we are trained to work with production companies to provide one-on-one local assistance. In addition, we know the perfect location for your shoot and can provide help and insight when it comes to film permits, lodging, etc.
In July 2020, Business Facilities Magazine ranked Georgia as the No.1 state for motion picture and TV production.
Television and film companies may receive a tax credit of up to 30% of the money spent on production and post-production. Minimum spending is $500,000.
Through the Georgia Entertainment Industry Investment Act, Georgia provides a 20% tax credit, with the State providing the other 10%. Little or no tax liability for your company? Transfer your tax credits.
According to Broderick Johnson, producer of The Blind Side, through the Georgia Department of Economic Development, “…Georgia’s tax break is one of the best, if not the best in the country.”
For more information about the credit and forms, CLICK HERE.
To read all about the Credit and find your contact, CLICK HERE.
ALWAYS CHECK WITH YOUR ACCOUNTANT.
The Federal Opportunity Zone is an Investment Credit Program within defined areas of Sumter County. It allows investors to defer the capital gains of other investments, into new projects within certain ‘Sumter County Zone’ designations. The program was designed as an economic tool to spur growth by providing tax benefits.
An investor can defer tax on gains:
We greatly appreciate qualifying for the Federal Opportunity Zone and consider it a great economic incentive.
To become certified as a Qualified Opportunity Fund, an eligible corporation must fill out Form 8996, filed timely.
If additional assistance is needed, please contact our office, your accountant, or the Department of the Treasury. You may find more information and guidance: