Its official, the city of Elberton’s urban redevelopment plan has finally been approved by the Georgia Department of Community Affairs.
The plan creates “opportunity zones” inside of the Elberton city limits.
There are two of those zones in Elberton. One is on the downtown square, and the other runs along the entire stretch of College Avenue.
Elberton Main Street Director Sissie Herring says these zones should help entice business to open or relocate in these areas.
“Because we are a tier one county, which is based on average household income, we get the highest credit”, explained Herring. “If you are looking to relocate, expand or open a new business, we want you to relocate in these opportunity zones, because you can save so much money through the state’s highest tax credit.”
Herring explained that if a business created two new jobs in a tier one county, such as Elbert County, then they would save seventy thousand dollars in tax credits over a ten year period; as opposed to a tier two county, where the savings would be less than twenty thousand during that same time period.
She says now she can focus on trying to land some new businesses in the city.
“Now that we have approval from the Department of Community Affairs on this opportunity zone; I have put together several potential packages and potential locations for new businesses”, said Herring. “So, we’re ready. We’re working with Electric Cities of Georgia to bring those referrals to us that could potentially locate in these zones and bring new jobs to Elberton.”
In all likelihood, any jobs created, would be from smaller businesses, but Herring says that any new job to Elberton, is a good job.