DCA Community & Economic Development

1. DCA Community & Economic Development February 2014

2. 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.

3. 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.

4. 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

5. 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.

6. 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

7. DCA is a Strong Partner in Housing… • 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 • 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

8. Economic Development • Community and Economic Development go hand-in-hand • DCA and the DEcD (Department of Economic Development) work closely together to assist communities with job creation. • Both agencies field regional managers to work directly with local governments, development authorities, chambers of commerce, regional commissions and businesses • DCA assists communities with preparing for economic development opportunities through planning, infrastructure, and financing. • 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.

9. Georgia’s Strategic Industries • 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

10. State Incentives & Partners • Training & Hiring • Tax Credits & Exemptions • Financing • Infrastructure & Permitting • Site Location and Facility Assistance • Business Plan

11. 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.

12. 2014 Job Tax Credit Tiers http://www.dca.ga.gov/economic/TaxCredits/index.asp

13. New & Expanded Industry Announcements

14. 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

15. 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

16. DCA’s Vision… Every Georgia community offers a quality of life where people and businesses can grow and prosper.

17. Questions? For more information Saralyn Stafford Division Director, External Affairs & Rural Policy saralyn.stafford@dca.ga.gov 404.679.3166