Incentives & Financing
The Payroll Development Authority works closely with the State of Georgia and Federal partners to provide incentives for projects with a positive economic impact on the community. Qualifying projects that provide substantial job creation and capital investment may be eligible for incentives.
- Property Tax Discount
- Based on the number of jobs created, capital investment and through negotiation, the Thomasville Payroll Development Authority (PDA) can provide a graduated property tax discount / abatement. Title to the property in question must be retained by the PDA. This can be accomplished through a lease agreement. The Board of Assessors will value all leasehold interests at the actual PDA project value, and those values will appear on the taxable digest. The following is the graduated schedule:
- 0% - Year 1 0% - Year 2 10% - Year 3 20% - Year 4 30% - Year 5
44% - Year 6 58%- Year 7 72% - Year 8 86% - Year 9 100% - Year 10
- 0% - Year 1 0% - Year 2 10% - Year 3 20% - Year 4 30% - Year 5
- Based on the number of jobs created, capital investment and through negotiation, the Thomasville Payroll Development Authority (PDA) can provide a graduated property tax discount / abatement. Title to the property in question must be retained by the PDA. This can be accomplished through a lease agreement. The Board of Assessors will value all leasehold interests at the actual PDA project value, and those values will appear on the taxable digest. The following is the graduated schedule:
- Bond Financing
- Based on the credit worthiness of the prospect, the Thomasville Payroll Development Authority has the legal power to issue tax exempt bonds for the financing of capital improvements such as land, buildings and manufacturing equipment. For qualified projects, this can provide low interest financing.
- Availability of Loan Programs
- The state of Georgia and the US Federal government (EIP) offers many low interest loan programs geared towards job creation. Funds may be applied for through the Thomasville Payroll Development Authority for capital improvements such as land, buildings, manufacturing equipment and infrastructure needs.
- Land Donation or Discount
- Based on the number of jobs created and capital investment, the Thomasville Payroll Development Authority can discount the price of land or donate land in the Red Hills Business Park. Lots range from 4 to 90 acres and are fully equipped with all necessary infrastructure, i.e. fiber, water, sewer, electric and roads.
- Other Possible Incentives
- Site Improvements
Build to Suit / Lease Back Arrangement/ Preliminary Office Space
Reduced Utility Pricing
Reduced Permitting Fees
- Site Improvements
Ready to Start a Business?
Explore our “Start a Business” guide page or utilize the links and resources provided here to get started on your path toward business success. Alternatively, reach out to us directly to learn how we can guide and outfit you with the resources necessary for your startup.
Tax Credits
Georgia offers a number of statutory tax credits and exemptions for new and growing businesses, such as the Job Tax Credit for qualifying industries generating new jobs in the state. This credit can offset up to 50% of corporate income tax liability. In Thomas County, eligibility may be attained after hiring 10 net new full-time employees within a year. For further details on eligibility requirements, visit the Georgia Department of Economic Development’s Incentives page. We can collaborate with the state's Economic Development Department to assess your eligibility for tax credits and exemptions.
Minority-Owned Small Businesses
For minority-owned businesses seeking support, several valuable resources are available. The Atlanta MBDA Business Center, operated by Georgia Tech’s Enterprise Innovation Institute, offers connections to resources vital for business success. Positioned within a hub of entrepreneurial services, the center facilitates growth through outreach and assistance.
Additionally, grant opportunities are available to minority entrepreneurs which can help overcome obstacles in accessing fair financial assistance.
Innovation & Growth
The Georgia Center of Innovation is a strategic arm of the Georgia Department of Economic Development; a provider of a wide range of services and programs to businesses of all types and sizes. The Center excels at delving into the specifics, connecting new and expanding businesses with experts and vital information, and providing additional resources to propel your business forward to new heights.