Secretariat

A Review of Economic and Industrial Development Programs in the State of Georgia

Indirect Financial Programs

1. Employment Incentive Program Loans
2. Quick Start
3. Intellectual Capital Partnership Program
4. OneGeorgia Authority
5. Community Development Block Grant Program
6. Empowerment Zone/Enterprise Communities
7. Local Rail Freight Assistance
8. State Aid, Local Assistance Road Program

Employment Incentive Program Loans

• Authority: Georgia Department of Community Affairs
• Objective: Job creation
• Applicants: Cities or counties in non-metropolitan areas
• Object: Loans up to $250,000 at rates between 5 to 7% for fixed asset gap financing
• Criteria:
  • Repayable loans
  • At least 51% of jobs created must go to low and moderate income persons

Quick Start

• A division of the Georgia Department of Adult and Technical Education
• Provides no cost training for new and expanding companies
• Tailors programs to meet business requirements
• Uses state sponsored or business's own facility

Intellectual Capital Partnership Program

• State educational program designed to complement the Quick Start Program
• Offers specialized technical education
• Provides entry to the intellectual capital of the University System of Georgia
• 5 programs:
  • ICAPP Advantage
  • ICAPP Needs Assessment
  • ICAPP Access
  • ICAPP Regional Programs
  • ICAPP Strategic Response Initiatives

OneGeorgia Authority

• Authority: Funded by the State of Georgia Tobacco Settlement Fund
• Object: Flexible financing tool, grants or loans
• Eligibility:
  • Local governments in Tier 1 & 2
  • Tier 3 sharing a boarder with Tier 1 or 2 counties
• Activities:
  • Public Land Acquisition / Site development / Infrastructure Improvements / Facilities
  • Workforce development, education and other employment support services
  • Planning services, technical assistance, marketing, promotional projects to encourage tourism
  • Facilities and other asset costs for use by businesses and enterprises for job retention / creation
  • Facilities and other asset costs to assist with agriculture diversification and biotechnology
• Limit: $500,000 per project

Community Development Block Grant Program

• Objective: Job creation for persons of low-and-moderate income
• Applicants: Cities and counties
• Object:
  • Below market rate loans and grants
  • Payback not required
• Conditions:
  • Evidence that applicant needs assistance
  • Private businesses require an irrevocable letter of credit
• Limit: $500,000
• Time: 90 days to process application
• Criteria: $1 private dollar for every $1 CDBG

Empowerment Zone/Enterprise Communities

• Authority: Georgia Department of Community Affairs
• Object: Federal block grants and tax Programs
• Limit:
  • $100,000,000 for Empowerment Zone;
  • $3,000,000 for Enterprise Zone.
• Criteria: Federal determination

Local Rail Freight Assistance

• Authority: Georgia Department of Transportation
• Object: Financial assistance (up to 70% of total cost) for capital projects to preserve and improve local rail freight service.
• Criteria: Funding is awarded in accordance with the priority placed on each eligible rail line as a result of the detailed analysis performed as part of the State Rail Plan.

State Aid, Local Assistance Road Program

• Authority: Georgia Department of Transportation
• Object: Assist local governments in improving their road and street programs
• Applicants: County and city governments
• Fund: $59,000,000
• Criteria: The selection of projects is based on an engineering evaluation of need, service to be provided vs. cost, local government priority and availability of funds