georgia.gov Headlines

Statewide Full-scale Hurricane Exercise Concludes - May 18

ATDC Showcase Welcomes Majority Leader Chip Rogers as Featured Speaker - May 18
ATLANTA (Friday, May 18, 2012) – Hundreds of Georgia entrepreneurs, startups and technology leaders, welcomed Senate Majority Leader Chip Rogers (R-Woodstock) as a featured speaker for Georgia Tech’s 2012 Advanced Technology Development Center Startup Showcase.  The event, held at the Georgia Tech Hotel & Conference Center, honors Georgia’s brightest entrepreneurs and emerging technologies, putting a [...]

Are You Obeying the 100-Foot Law? - May 18
SOCIAL CIRCLE, Ga. (5/18/2012) Quick boating safety quiz: Is it okay to jump the wake of another boat when you are less than 100 feet away or to use your personal watercraft to splash someone sitting on a dock? Contrary to popular activity, it is not okay and both situations are illegal. If you thought otherwise, you need to review the boating "rules of the road."

Gov. Deal Signs Proclamation for Georgia Safe Boating Week - May 18
SOCIAL CIRCLE, Ga. (5/18/2012) As the weather starts to warm up, families and friends gather together to enjoy the outdoors, travel on vacation and spend time on the water - boating, fishing, sailing, and more. With more time spent on the water - it's important to remember the safety precautions to take during these recreational activities.

Memorial Day Weekend Will Bring Increase in Boating Activity - May 18
SOCIAL CIRCLE, Ga. (5/18/2012) Stay sober and know the laws when operating a boat this holiday weekend, urges the Georgia Department of Natural Resources, Wildlife Resources Division. There were 109 boating accidents and 11 boating related fatalities in 2011 in Georgia, and conservation rangers made 168 boating under the influence arrests.

Preservation Georgia Online - May 12-18, 2012 - May 18
Preservation Georgia Online - May 12-18, 2012

Deal appoints three to boards - May 18

Attorney General Sam Olens Intervenes to Stop Illegal Payday Lending in Georgia - May 18

UGA study: Georgia ports support more than 350,000 jobs - May 17

Former UGA Employee Pleads Guilty to Stealing More than $200K from the University - May 17

Latest Coastal Beach Swimming Advisory Information - May 16
Advisory Lifted for St. Simons 5th Street Crossover Beach

New Georgia Legislation Encourages Job Growth In The State - May 15

Article:

 

Atlanta, May 15, 2012 — Georgia citizens should soon see new job opportunities in the state thanks to aggressive measures passed this year by the Georgia legislature. Business-friendly bills signed into law by Governor Nathan Deal will benefit manufacturers, the film industry, technology and other start-up companies, the life sciences sector and businesses large and small in many other industries. All economic development-related statutes will continue to apply to both new and existing companies in Georgia.

 

“This has been the best year in recent memory for legislation supporting economic development in Georgia,” said Chris Cummiskey, Commissioner of the Georgia Department of Economic Development. “We appreciate Governor Deal’s leadership on this issue and the interest our legislators have taken in keeping Georgia on the front lines of global commerce. These new laws are great new weapons in our economic development arsenal and lay the groundwork for even more job creation in Georgia.”

 

The following is a summary of the legislation passed by the 2012 Georgia General Assembly and subsequently signed into law by Governor Deal.

 

Elimination of the Sales and Use tax on energy used in manufacturing (HB 386)

 

This statute applies to energy used directly or indirectly in manufacturing. It puts Georgia on a more level playing field with competitive states that already have some variety of exemption on energy use, and is anticipated to foster interest from both existing and potential new manufacturers. The measure was one of several recommended by the Georgia Competitive Initiative (GCI), the strategic economic development plan developed under Governor Deal. The tax will be phased out over four years, although criteria exist for which an immediate phase-out can be offered if Georgia is competing with another state for a project with potentially significant economic impact. HB 386 takes effect Jan. 1, 2013.

 

Discretionary elimination of Sales and Use tax for construction materials (HB 386)

 

Start-up costs are often challenging until a company becomes operational and begins reaping profits. This new statute, part of the same bill as the energy tax exemption, gives Georgia the option to offer a sales and use tax exemption on construction materials to help defray such costs. The exemption can only be used for the expansion or location of a competitive project of regional significance. Such projects must meet certain criteria and be certified by the state’s commissioner of economic development. The exemption would apply to both state and local portions of the sales and use tax. It is retroactive to Jan 1, 2012 and expires June 30, 2014.

 

Freeport expansion and the elimination of the Local Inventory tax (HB 48)

 

This bill encourages job growth, especially by the retail industry, in local communities by enabling them to compete with jurisdictions outside the state that may not have an inventory tax. Eligible local governments can expand the Freeport Exemption allowed under current law and authorize a call for a referendum to approve the creation of a Level Two Freeport Exemption, which would exempt from local property tax any business inventory or real property not covered in the current Freeport Exemption. HB 48 is effective immediately.

 

Enhancements in statutory Job tax credits, Research and Development tax credits, Port tax credits, and Quality Job tax credits (HB 868)

 

A number of changes strengthened these tax credits through further refinements. In addition to the eight industries currently covered, biomedical manufacturing and alternative energy products (solar, wind, biofuel, electric vehicle) are now eligible for these statutory tax credits. Companies qualified for the R&D tax credit can now take credits earned against their state withholding liability, incentivizing the growth of technology-based companies with large R&D expenditures. The Port Tax Credit Bonus has been expanded for use in economically-challenged areas such as Less Developed Census Tracts, Military Zones, and Opportunity Zones. Finally, jobs with pre-determined end dates now qualify for the Quality Job Tax Credit, an enticement to military contractors who may be affected by current or potential BRAC realignments. HB 868 is retroactive to Jan. 1, 2012.

 

Changes to the Mega Project tax credit (HB 868 & HB 1027)

 

This tax credit applies to qualified companies employing 1,800 new employees, and either investing a minimum of $450 million or meeting a minimum annual payroll of $150 million. Changes will further motivate companies to create new jobs to Georgia: not only companies, but their affiliates, can now qualify for the Mega Project tax credit, and companies with a larger capital investment can take advantage of an extended ramp-up period. The maximum number of jobs a company can claim for the Mega Project tax credit is raised from 3,300 to 4,500. HB 868 and HB 1027 are retroactive to Jan. 1, 2012.

 

Additions to discretionary deal-closing funds (HB 742)

 

Significant infusions into Georgia’s deal-closing funds boost the state’s competitive status among its peers. After several years of operating on reserves and smaller amounts during the recession, for the state’s 2013 fiscal year Governor Deal tapped a portion of the state’s federal mortgage fraud settlement to encourage companies to create jobs in Georgia. A total of $78.5 million has been designated to the Regional Economic Business Assistance (REBA) fund, and $44.8 million goes to the OneGeorgia fund for rural communities. Both funds are awarded to specific communities for fixed assets involving a particular project, usually by recommendation of the Department of Economic Development. HB 742 takes effect July 1, 2012.

 

Employees' Retirement System of Georgia Enhanced Investment Authority Act (SB 402)

 

This measure, recommended by the Georgia Competitive Initiative, means Georgia will join other states that enable their retirement assets to be invested in certain types of alternative investments and other private investments. Venture capital funds can now access state pension funds, thus encouraging start-up companies that are commercializing the vast amount of ground-breaking research generated by Georgia’s universities to stay and grow in the state. Yearly investments are capped at one percent of the state retirement system’s assets. SB 402 takes effect July 1, 2012.

 

Amendments to the 2008 Georgia Entertainment Industry Investment Act (HB 1027)

 

This bill amends several elements of the 2008 Georgia Entertainment Industry Investment Act, which has increased the film industry’s economic impact in Georgia more than 1,000 percent. These amendments will increase the act’s marketing value for the state by legislating a more advantageous logo placement and a Georgia web link. They also more clearly define film distribution procedures, ensure all appropriate income is captured and appropriately taxed by the State of Georgia, and establish a cap on interactive entertainment projects. HB 1027 takes effect Jan. 1, 2013.

 

Strengthening Georgia open records laws regarding economic development (HB 397)

 

This legislation balances the Georgia Department of Economic Development (GDEcD)’s commitments to both taxpayers and its client companies, and enables the agency to work in an optimal environment for job creation yet share information with the public in a timely way. The legislation applies to state projects and specifies that projects involving more than 50 jobs or $25 million in investment are protected from open record requests until a binding commitment has been made by the prospect company, or the project is terminated. If a project is located, public notice of the binding agreement and committed REBA or OneGeorgia funds must be posted on the GDEcD website and in the legal organ of each of the counties where the project is located.

 

For details about 2012 Georgia legislation signed into law, please visit www.legis.ga.gov/.

 

About GDEcD
The Georgia Department of Economic Development (GDEcD) plans, manages and mobilizes state resources to attract new business investment to Georgia, drive the expansion of existing industry and small business, locate new markets for Georgia products, inspire tourists to visit Georgia, and promote the state as a top destination for arts events and film, music and digital entertainment projects. Visit us at www.georgia.org.

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Media Advisory: Statewide, Full-Scale Hurricane Exercise Set, May 15-17 - May 14

CELEBRATE MEMORIAL DAY WITH A HISTORICAL DAY TRIP - May 14
ATLANTA, May 14, 2012 - As friends and family gather for picnics and holiday celebrations over Memorial Day weekend, take some time to honor those who fought on American soil. Georgia is home to many significant historical battlefields and forts that have been meticulously preserved. A visit to a fort is a great way to teach the kids about our country's rich history and honor those who have fallen. Below are some suggested day trips to forts and museums across Georgia.

Mobile License Testing at Gold Wing Road Riders Awareness Event in Cumming - May 13

Rep. Don Parsons Joins International Leaders in Round Table Discussion on Energy & Climate Change - May 11
ATLANTA – State Representative Don Parsons (R-Marietta) recently joined Minister Gregory Barker, of Great Britain’s Department of Energy and Climate Change, and other local and British business and political leaders in an international round table discussion on the importance of balancing energy needs and environmental concerns. “It was an honor to be included in this roundtable [...]

Rep. Stephens’ Legislation Signed Into Law by Governor - May 11
ATLANTA – State Representative Ron Stephens (R-Savannah) commented today on Governor Nathan Deal signing into law House Bill 1027, legislation that closes loopholes and clarifies provisions of the state tax credit for film and video production in Georgia. Sponsored by Rep. Stephens, HB 1027 passed the General Assembly with broad, bipartisan support during this [...]

Georgia Department of Banking and Finance's Order to Cease and Desist Issued to The Hardship Center, LLC Becomes Final - May 11

Public Meeting Scheduled to Discuss Striped and Hybrid Management in Altamaha Basin - May 11
SOCIAL CIRCLE, Ga. (5/11/2012) Striped bass and hybrid striped bass management in Altamaha River basin lakes, such as Jackson, Oconee, Sinclair, High Falls, Tobesofkee, and Juliette will be discussed at an upcoming public meeting on June 5, hosted by the Georgia Department of Natural Resources, Wildlife Resources Division (WRD).

Georgia-South Carolina Reciprocal Agreement Topic of Upcoming Meetings - May 11
SOCIAL CIRCLE, Ga. (5/11/2012) Two upcoming public meetings, hosted by the Georgia Department of Natural Resources, Wildlife Resources Division (WRD), are scheduled to receive public input regarding the Georgia-South Carolina reciprocal fishing agreement. Changes being considered will affect border waters, from the Chattooga River to Lake Hartwell and downstream waters such as lakes Russell and Clarks Hill, and the Savannah River.