Business

Perry one of nine Georgia cities to get downtown tax credit program

Photo taken in downtown Perry in 2013. At that time, census data showed that Perry was adding residents at the fastest pace of any Middle Georgia city.
Photo taken in downtown Perry in 2013. At that time, census data showed that Perry was adding residents at the fastest pace of any Middle Georgia city.

Perry is one of nine cities that have been selected for a new tax credit program for downtowns in Georgia.

The Georgia Department of Community Affairs announced Perry's five-year designation as a Rural Zone, a program established in 2017 that focuses on job creation and private investment in designated areas, according to a news release. The program features a job tax credit, investment credit and rehabilitation credit.

The boundaries of the Rural Zone roughly match those of Perry's downtown development district, the release said.

“This package will make infill and redevelopment projects more attractive to investors,” Main Street Coordinator Catherine Edgemon said in the release. “It will be a tremendous boost to redevelop properties where investors previously could not generate a sufficient return on investment.”

The purpose of the special zone is to encourage small business investment and job creation and therefore preserve the assets and stimulate economic activity in small towns, DCA Commissioner Christopher Nunn said in the release.

Perry has completed significant research and planning initiatives over the last few years, including a strategic master plan, retail and housing market analysis, wayfinding strategy, branding initiative and hotel feasibility study, Edgemon said.

“This preparation means Perry is poised to implement the program immediately,” she said.

  Comments