Roswell Expands 'Opportunity Zone' for Businesses

Because of a recent expansion, more businesses in Roswell will be able to take advantage of the "Opportunity Zone," which was designated by the Georgia Department of Community Affairs in May 2010.

According to Roswell Councilwoman Betty Price, liaison to the city's Community Development department, the Opportunity Zone is a tax incentive offered by the state to encourage businesses within the Opportunity Zone designation to hire new employees. 

"If a business has been waiting to hire extra employees, now is the time," said Price. "Businesses need to take a close look to see if they are in the Opportunity Zone, since it has now been expanded in four additional areas."

The city's designated zone now includes the Roswell Mill, at 972 Alpharetta Street, Holcomb Woods, Old Ellis Industrial and business parks. These new inclusions takes the Opportunity Zone farther north and east. Previously, the zone extended out to the Martin's Landing area of Holcomb Bridge, down Old Alabama Road to the Chattahoochee River and up East Crossville Road to Mansell.  

The designation, which will expire in 2020, is key in helping Roswell achieve its redevelopment goals, since the state has permitted the maximum $3,500 tax credit per job within certain older commercial and industrial areas and new or existing businesses located within the designated Opportunity Zone are also eligible for a $3,500 per job tax credit, as long as two or more jobs are created within that tax year. The jobs must be full-time permanent jobs with at least 35 hours per week and hirees must be offered health insurance upon employment. The program offers the highest and most user-friendly job tax credit in the state, according to the city. 

As for how the credit will help businesses, Price said, "There is a synergy as new businesses help existing business become more successful. As more employees are hired in Roswell, that means a boost in our overall economic vitality."

Businesses which are currently participating in the program include:

• Lauck Motors
• Veterinary Referral Surgical Practice
• Paperhost.com, Inc.
• APPS Paramedical
• Diesel Pizza & Pub
• Dixie Duct & Fabrication
• Technipower, Inc.
• Chexar Networks, Inc.
• Desjoyaux Pools USA
• Publix Super Markets (1425 Market Blvd.)
• Family Eyecare of Roswell

 Overall, the city is seeing a slight growth in jobs, according to Price. More than 100 jobs have been established at the Roswell Town Center complex alone.

"We are seeing other encouraging signs of economic recovery in Roswell, such as a dramatic increase in hotel and motel activity as more people are coming to do business in the city," she said. "New building applications and business licenses are also on the rise."

To aid in the recovery, the city is looking “outside the box” for creative solutions to issues such as impact fee requirements. And a the city's new voter-approved redevelopment powers, will soon allow for a tax allocation district and also a revitalized Downtown Development Authority to pursue special projects, according to Price. 

"The city of Roswell has streamlined the permitting process so it is not so daunting and time-consuming," Price added. "The new attitude in Roswell is 'How can we help you achieve your plans.'  The city of Roswell wants to be a helpful partner to facilitate establishing those types of businesses and projects our citizens want to see."