Tax Credits Offered to Attract New Business to Macon

MACON, Georgia (41NBC/WMGT) – Local leaders are offering big tax breaks to attract jobs to Macon in two particular areas. Their plan targets the old Ramada Plaza building in downtown and the Towne and Country shopping center in east Macon on Gray Highway.  Those areas were designated as opportunity zones by the state’s Department of Community Affairs.

“Opportunity Zones provide another tool by which the Urban Development Authority can attract developers to areas that are key to the overall redevelopment of our city,” says Urban Development Authority Executive Director Alex Morrison. “For a hotel property that is mixed use, this designation will help make the rehabilitation (of) this large building much more economical and attractive for the developers.

For every new hire in those locations, businesses will get a $3,500 annual tax credit for five years.