Economic Development Finance Programs August 2010 http://www.dca.ga.gov/economic/TaxCredits/programs/downloads/EDFD.pdf Economic Development Financing Packet Georgia Department of Community Affairs 60 Executive Park South, N.E. Atlanta, Georgia 30329-2231 (404) 679-1593 This publication is funded in part by a grant from the Appalachian Regional Commission. An Equal Opportunity Employer If you are disabled and would like to receive this publication in an alternative format, please contact the Georgia Department of Community Affairs at 1 (877) 204-1194 or (404) 679-4915 (TDD). Table of Contents Introduction and Acknowledgements ..........................1 Renewal Communities/Empowerment Zones/ How to Operate a Business Legally in Georgia SB......2 Enterprise Communities (RC/EZ/EC) SB.................. 35 Secretary of State Office of Development Assistance ............................ 36 First Stop Business Information Center SB..................6 ONEGEORGIA AUTHORITY.............................. 38 GEORGIA DEPARTMENT OF Equity Fund ............................................................... 39 COMMUNITY AFFAIRS (DCA)............................ 7 Community Development Block Grant (CDBG) AIRGeorgia ............................................................... 40 Program Annual Competition Economic Development Program........................................................................8 BRIDGE .................................................................... 41 Employment Incentive Program (EIP)...................... 10 EDGE Program.......................................................... 42 Regional Economic Business Assistance Entrepreneurial and Small Business Loan (REBA) Program .......................................................12 Guarantee Fund SB.................................................... 43 Downtown Development Revolving Loan GEORGIA DEPARTMENT OF ECONOMIC Fund (DD RLF) SB ...................................................13 DEVELOPMENT (GDEcD).................................. 44 The Georgia Entrepreneur & Small Business Redevelopment Fund .................................................14 Network SB............................................................... 45 Local Revolving Loan Funds (RLF’s) SB .................15 Georgia Department of Economic Development – Regions............................................. 46 Cities & Counties with Revolving Loan Funds (RLFs) SB....................................................... 16 Georgia Department of Economic Development – International Trade Services ............ 47 Office of Field Services ............................................17 United States Export Assistance Center Office of Downtown Development (ODD) .............. 19 (USEAC) SB.............................................................. 49 Georgia Appalachian Region Georgia Department of Economic Business Development Revolving Loan Fund Development – Regional Tourism Program (ARC RLF) SB ...........................................20 Representatives ......................................................... 50 Appalachian Regional Commission Area Development Funds ..........................................22 GEORGIA ENVIRONMENTAL FINANCE AUTHORITY (GEFA)............................................ 51 CDBG Loan Guarantee Program ...............................24 Georgia Fund Program .............................................. 52 Regional Economic Assistance Projects Clean Water State Revolving Loan Fund .................. 53 (REAP)...................................................................... 26 Drinking Water State Revolving Loan Fund............. 54 Opportunity Zones (HB 984) .................................... 28 Solid Waste Facilities Loan Program ........................ 56 Georgia Business Expansion and Support Act Executive Summary SB .............................................29 Environmental Emergency Loan Program ................ 57 SB – Indicates a program of potential interest to small Tax-Exempt Industrial Development Bond business Financing ..................................................................34 i Table of Contents U.S. SMALL BUSINESS ADMINISTRATION USDA Section 9008 Biomass Research and (SBA) SB ...................................................................58 Development Initiative .............................................. 88 Your Business and the S.B.A.....................................59 Financing For Small Municipal and Rural Small Business Development Centers .......................61 Water, Wastewater and Solid Waste Systems ........... 90 S C O R E...................................................................63 Rural Economic Development Loan and Grant Program ..................................................................... 92 U.S. Small Business Administration 7(a) Guarantee Loan Program ...........................................64 GEORGIA DEPARMENT OF NATURAL RESOURCES HISTORIC Section 504 Program..................................................65 PRESERVATION DIVISION ................................................................ 93 SBA Express Loan Program ......................................67 State Historic Preservation Tax Incentives................ 94 SBA Patriot Express Loan Program...........................68 Georgia’s State Historic Preservation Office ............ 96 Atlanta Women’s Business Center ............................69 Historic Preservation Federal Investment Tax Credit ......................................................................... 98 SBA 8(a) Business Development Program................70 CITY AND COMMUNITY Small Disadvantaged Business (SDB) DEVELOPMENT.................................................... 99 Certification ...............................................................71 Downtown Development Authorities (DDAs) ....... 100 Statutory and Constitutional Redevelopment SBA Government Contracting – Area III ..................72 Tools for Local Governments Downtown Development Authorities in SBA Microloan Programs in Georgia........................73 Georgia Business Improvement Districts Small Business Investment Company Community Improvement Districts (SBIC) Program .........................................................74 Tax Allocation Districts Land Bank Authorities HUBZone Contracting Program ................................75 Atlanta Development Authority (ADA) SB ............ 104 Surety Bond Guarantee Program ...............................76 “Freeport” Inventory Tax Exemptions for GA UNITED STATES DEPARTMENT OF Industries SB ........................................................... 105 AGRICULTURE (USDA) RURAL ADULT EDUCATION AND TRAINING........... 107 DEVELOPMENT (RD)...........................................77 Quick Start............................................................... 108 Intermediary Relending Program SB ........................78 Intellectual Capital Partnership Program Rural Business Enterprise Grants SB.........................80 (ICAPP) ................................................................... 109 Rural Business Opportunity Grants SB......................82 Workforce Investment Act (WIA)........................... 110 Business and Industry Guaranteed Loan Program SB ...............................................................83 SB – Indicates a program of potential interest to small business Financing For Small Municipal and Rural Community Facility Projects .....................................84 USDA Section 9006 Energy Grant Program .............87 ii Table of Contents GEORGIA DEPARTMENT OF REVENUE......111 Southeast Rural Community Assistance Project Technical College System of Georgia (Southeast RCAP) ................................................... 134 Georgia Tax Credit for Adult Basic Skills Education Federal Home Loan Bank of Atlanta....................... 135 U.S. DEPARTMENT OF COMMERCE ECONOMIC DEVELOPMENT Georgia Development Authority (GDA)................. 136 ADMINISTRATION (EDA)… .............................114 Export-Import Bank................................................. 137 U.S. Department of Commerce Entrepreneurial Training and Funding Economic Dev. Administration (EDA)....................115 Opportunities SB............................................................................. 138 EDA Revolving Loan Fund (RLF) Programs SB….........................................................................116 The Center for Rural Entrepreneurship SB.............. 141 U.S. DEPARTMENT OF THE TREASURY The Abilities Fund SB.............................................. 142 COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS FUND (CDFI) SB ....................117 Georgia Community Loan Fund, Inc. Community Development Financial Institutions (GCLF) SB .............................................................. 143 Fund (CDFI) ............................................................118 ACCION USA SB ................................................... 144 New Market Tax Credit (NMTC) Program .............119 Business Incubators SB............................................ 145 GEORGIA TECH ENTERPRISE INNOVATION INSTITUTE (EII) SB ...........................................120 Technology and Telecommunications Research Southeast Trade Adjustment Assistance Center in Georgia ................................................................ 146 (SETAAC) ...............................................................123 Georgia Cities Foundation SB ................................. 147 MINORITY