Property and Development Incentives
Paulding County Property Tax Abatements
Paulding County Economic Development (PCED) can provide new and expanding businesses with property tax abatements that average 40%-90% annually for 5-20 years. Abatements are applied to all of the applicable property taxes shown in the previous section.
The percentage and term of the taxes abated for a project is based on the following:
- New jobs that will be created from the project
- Current number of jobs (if an existing company)
- Average wage rate for the facility
- New capital investment (land, building and equipment) for the project
Paulding County offers a great deal of flexibility with its property tax abatements. The abatement can be front loaded or accelerated in order to achieve greater savings in the initial years of the project. In addition they can be spread out evenly over the term of the abatement or any combination thereof. There is no minimum investment required for property tax abatements; however, due to the associated legal fees projects should have a capital investment in land, building and/or equipment of at least $2 million in order to realize the savings from the abatement.
Additional Incentives and Resources
County Owned Land and Facility ConstructionPaulding County owns several industrial and business development parks including the Class A Paulding Commerce Park, the Dallas Industrial Park and Silver Comet Field at Paulding Northwest Atlanta Airport Technology Park. The aforementioned properties offer well planned and managed industrial locations at extremely competitive prices, along with opportunity zone designation.
The county also provides new and expanding businesses with multiple options for the design, construction and lease of new buildings. Depending on the size of the project, county owned buildings can be offered at extremely competitive lease rates for the first several years of a business' operations and, depending on the amount of jobs created, additional incentives can be explored.
County Fast Track Permitting and Reduced Development Fees
Building and grading permits in unincorporated Paulding County and the City of Hiram are issued by Paulding County Development Services (PCDS). Projects that have a short time frame for construction can be designated for fast track review and approval. For projects receiving fast track review, PCDS has the ability to issue permits in as little as 5 to 10 working days, provided the information submitted by the project's engineer is correct.
Paulding County will strongly consider the reduction and in some cases the waiver of building permit, water tap and other development fees for projects that result in significant job creation or capital investments.
Sales and Use Tax Exemption
Georgia and Paulding County help companies lower their cost of doing business by offering the ability to purchase various types of goods and services tax free. Several key exemptions are outlined in the table below. The sales and use tax in Paulding is 7% which includes state and local taxes.
(New in 2013!)
Inventory Tax Exemption
Business inventory is exempt from state and county property taxes. Paulding has a Freeport Exemption set at 100 percent of the inventory value. Exemptions apply to the following types of tangible personal property:
- Inventory of goods in the process of being manufactured or produced including raw materials and partly finished goods
- Inventory of finished goods manufactured or produced in Georgia held by the manufacturer or producer for a period not to exceed 12 months
- Inventory of finished goods on January 1 that are stored in a warehouse, dock, or wharf that are destined for shipment outside of Georgia for a period not to exceed 12 months
Small Business Tax Relief
Georgia allows for faster depreciation on equipment deduction, in which businesses can choose to claim the expense in year one as opposed to over several years.