DCA COMMUNITY & ECONOMIC DEVELOPMENT

February 2014

Creating opportunity…

DCA’s Mission is partnering with communities to help create a climate of success for Georgia’s families and businesses.

We do this work by providing technical assistance and services in the areas of community development, development finance and housing development to help communities prepare for opportunities to create jobs.

We’re part of the Governor’s team, along with the Dept. of Economic Development and others, working on his number one priority of creating jobs for Georgians.

For Georgia to be Competitive, our Communities must be competitive.

DCA’s Commitment to Preparing Communities…

In FY13, DCA invested $416 million across Georgia:

$117 million to local governments and non-profit organizations, and

$299 million for rental, homeowner and first-time home-buyer assistance.

Most of that funding (about 94%) came from federal gov’t, including $39.5M in Community Development Block Grant awards.

Capacity Building

Economic Development Capacity Building Tools CDBG EIP OneGeorgia Equity Main Street, DDAs & Development Authorities

Economic Development Financing Tools OneGeorgia EDGE & REBA SSBCI DDRLF Tax Credits

DCA is a Strong Partner in Economic Development…

Since its inception in 1980, Georgia’s Main Street designated communities have added 56,966 net new jobs for Georgians. This year, Georgia Main Street network will celebrate reaching the milestone of $3 billion in public and private investment in its downtowns.

From 2000 to 2013, DCA sustained a 98% success rate in pledged jobs created with EDGE and REBA funds, and a 134% success rate in attaining private investment pledged. These programs have

created 43,743 jobs and $6,849,304,355 in private investment, leveraging $183,569,172 in state investment in 214 job creation projects.

Housing Housing is also an important element for communities,

so that opportunity for job creation is supported by housing

availability at all levels DCA’s capacity building program for housing is GICH –

the Georgia Initiative for Community Housing Offers communities specialized training in assessing

needs, developing plans, and accessing resources Other housing assistance includes:

First time homebuyer down payment assistance (Georgia Dream) Low Income Housing Tax Credits HomeSafe mortgage assistance Rental Assistance

The Housing Choice Voucher Program serves over 15,000 Georgia families a year - adding more than $98 million to Georgia’s economy each year through direct payments to private landlords.

The HomeSafe Georgia program has assisted over 4,300 homeowners, committing over $87 million in U.S. Treasury funding to help keep unemployed or under-employed homeowners from foreclosure

DCA’s housing finance agency, GHFA has an AAA Bond rating and has maintained that rating through unprecedented volatility in the housing and bond markets.  GHFA is one of only 13 state housing agencies in the nation to achieve and maintain this recognition for sound management & investment practices

DCA is a Strong Partner in Housing…

Economic Development

Community and Economic Development go hand-in-handDCA and the DEcD (Department of Economic Development) work closely together to assist communities with job creation.o Both agencies field regional managers to work directly

with local governments, development authorities, chambers of commerce, regional commissions and businesses

o DCA assists communities with preparing for economic development opportunities through planning, infrastructure, and financing.

o DEcD assists existing industries in expansion projects, and recruits new industry for the state through marketing and facilitation.

Both agencies rely on additional partners such as the utility companies and educational agencies, in these efforts.

Aerospace, Defense & Advanced Manufacturing Logistics, Energy, Agribusiness, & Food Processing Health Sciences & Advanced Technologies Corporate Solutions International Investment Existing Industry and Regional Recruitment International Trade Centers of Innovation

Georgia’s Strategic Industries

State Incentives & Partners

Training & Hiring Tax Credits & Exemptions Financing Infrastructure & Permitting Site Location and Facility Assistance Business Plan

Pro-Business Environment:Low taxes & tax credits Low Effective Tax Rate

6% Corporate Income Tax Rate Single Factor Apportionment

Corporate Tax Credits Investment Tax Credit Port Tax Credit Bonus R&D Tax Credit Retraining Tax Credit Child Care Tax Credits Job Tax Credits

Job tax credits are most well known, and provide credits against corporate income taxes to companies creating and/or retaining jobs.

The credit amount varies based on a county’s tier status, from $750 to $3500 per job.

2014 Job Tax Credit Tiers

http://www.dca.ga.gov/economic/TaxCredits/index.asp

New & Expanded Industry Announcements

Fiscal Year 2008 2009 2010 2011 2012 2013

Announcements 321 327 335 360 403 389

Investment$3.26 billion

$2.55 billion$3.74 billion

$4.39 billion

$5.98 billion

$6.07 billion

Jobs 19,668 17,467 19,462 22,022 28,776 31,656

DCA is a strong partner for local communities… Planning Technical assistance for all our programs Provision of vital community infrastructure such as water, sewer,

workforce housing, and industrial parks Low-interest loans for downtown development, for redevelopment

areas Incentives to encourage rural development and small business growth Loan guarantees for small business growth Housing for all citizens Research and surveys to help local governments assess their

capabilities and needs

Creating A Climate of Success for Georgia’s Families & Businesss

A shared vision within the community, the region, the state

Developing a plan, short and long term outcomes Community involvement to implement the planning

Elected Officials Residents Businesses

Resource identification – Regional, State, Federal LEADERSHIP

DCA’s Vision…

Every Georgia community offers a quality of life

where people and businesses can grow and

prosper.

For more informationSaralyn Stafford Division Director, External Affairs & Rural

Policysaralyn.stafford@dca.ga.gov404.679.3166

Questions?