Friday, October 30, 2009
© Copyright 2014
Gwinnett Daily Post
NORCROSS -- Opportunity is knocking in Norcross.
City leaders announced last week that the county's first economic "opportunity zone" has been designated along Buford Highway.
Designated by the Georgia Department of Community Affairs, businesses in the area can earn credits of up to $3,500 per job (for every two or more jobs created). The credits can be taken against their income tax liability and state payroll withholding.
"The creation of an opportunity zone in and around our community only adds value and interest to those looking to invest in the already successful concept of new urbanism in this area," Mayor Bucky Johnson said. "Our historic downtown has been completely revitalized using unique redevelopment tools and this opportunity zone is just that; another opportunity to expand revitalization even further on the south side."
The city has celebrated recent success in economic development, including the recent opening of the Suniva Corporation in the Tech Park/Atlanta area.
Norcross was also the first city to create a tax allocation district to encourage revitalization.
"With a blueprint of new urban design concepts defining the city's vision of economic energy and trendy appeal, city leaders remain focused on finding creative opportunities to continue revitalization and growth," a press release said.