We were recently helping a client do research on the Opportunity Zone tax credit (for details click here).

As we dug into the details to see what was available,  we saw some other incentives for less developed areas that looked interesting.

Enterprise Zones — The local (city or county) government may reduce property taxes, local sales taxes, business licenses and other fees (click here).  For example, the City of Tifton offers both Opportunity Zone and Enterprise Zone incentives (click here).

Urban Redevelopment — The local government may have plans to improve streets and utilities, acquire buildings & land, and rehabilitate areas (click here). For example, the City of Union City has extensive improvement plans (click here).

Make sure your clients talk with their local economic development representatives before they add employees, buy land, expand buildings, or make other improvements. There may be some hidden but well-deserved $ assistance available.