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Augusta Startup Ecosystem (view source)
Revision as of 11:03, 4 October 2017
, 11:03, 4 October 2017no edit summary
*In Augusta, "Booz Allen has a large footprint in Augusta which supports multiple clients across the Department of Defense, as well as the commercial market." It provides STEM &STEM education funding to Augusta community.
**source: https://theclubhou.se/corporate-sponsor-booz-allen-hamilton/
=Augusta Economic Development Authority- Development Authority of Richmond County (DARC)=
*Point of contact for economic development projects
*Responsible for the recruitment of new businesses in the areas of industrial, manufacturing, distribution, corporate and regional headquarters, customer service centers, and assistance with other major economic development projects in the county.
*Augusta Tomorrow, Inc- private corporation with representation from the City of Augusta and the City of North Augusta. The Augusta Tomorrow board identifies development and redevelopment needs particularly in the city center, seeks developers and actively works with the developers and the public sector to implement the projects.
==Tax Allocation Districts, Enterprise Zones, and Opportunity Zones
Tax Allocation District
*Incremental tax revenue collected in the district has gone into a fund to supplement funding by public and private sources for public improvements that spur private redevelopment activity. Tax exempt bonds may be issued to pay for infrastructure and other eligible redevelopment costs in partnership with private developers
*Georgia’s version of tax increment financing, which allows a local government to capture tax revenues attributable to increases in property values within a prescribed development area and use those revenues for neighborhood improvement projects. Augusta currently has three TADs.
*Link to map of where these districts are: http://www.augustaga.gov/DocumentCenter/View/7349
Enterprise Zones and Opportunity Zones
*Enterprise Zones are designated geographical areas which suffer from disinvestment, underdeveloped, and general economic distress. In an effort to encourage revitalization in these distressed communities, Georgia law permits cities to create districts where ad velorum taxes are abated for up to 10 years and other incentives are provided to private employers who create five or more new jobs
*Opportunity Zones, similar to Enterprise Zones, are designated geographic areas which suffer from economic distress. In order for an area to be designated as an OZ, under the DCA rules the area first has to be an Enterprise Zone or have an Urban Redevelopment Plan in place pursuant to the DOA website (http://www.dca.ga.gov/economic/DevelopmentTools/programs/opportunityZones.asp). Augusta Opportunity Zones are geographically identical to their Enterprise Zones.
*Maps of Opportunity and Enterprise Zones: http://www.augustaga.gov/ArchiveCenter/ViewFile/Item/2151 and http://www.augustaga.gov/ArchiveCenter/ViewFile/Item/2152
