Local Incentives

 
 
Butler Downtown
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Credits and Funding      

Economic Development Income Tax (EDIT)
EDIT revenue may be used for economic development projects and for other uses specified in the EDIT law. The expenditure of these funds is at the discretion of the city, town or county taxing unit.  A project receiving CEDIT funds must involve expenditure for land, site improvement, buildings, equipment, infrastructure improvements, machinery, and/or administrative and operating expenses.

Tax Incremental Finance (TIF)
Some political jurisdictions in DeKalb County use TIF funds.  Basically, TIF permits cities and towns and other taxing units to use the increased tax revenues stimulated by redevelopment in a TIF district to pay for the capital improvements needed to induce the redevelopment of the area.

Property Tax Abatement
Tax abatement is an option for local government to allow business to phase-in new taxes over a designated period of time.  The abatement is a percentage of the increased assessed valuation that resulted from the investment of real property (i.e.: construction or improvements to buildings) and personal property (i.e.: equipment).

Industrial Development Fund
Any government unit, other than a township, may establish an industrial development fund for the purpose of improving real property to make it more suitable for industrial use.

General Obligation Bonds
Depending on the community, these bonds may be used for a broad range of projects and might be available for a particular economic development project undertaken for a valid public purpose. Because general obligation bonds are backed by the political subdivision's taxing power, they generally bear a relatively low rate of interest.

Special Programs
                                                                                                                             

Certified Industrial Sites

This program focuses on greenfield industrial sites.  The program certifies that the land is "ready for development" and is designed to help companies locate and develop sites quickly for business opportunities.  Currently, DeKalb County has three certified industrial sites

 


 

Foreign Trade Zone

The DCEDP applied for the inclusion of DeKalb County in Foreign Trade Zone (FTZ) No. 182.  The application was approved in 2011 and can help certain qualified businesses pursue import/export opportunities that, in the past, were not available, too expensive, or too time consuming.