Cost of Doing Business

Augusta Incentives

Business prospects may be offered incentives to encourage investment and the creation of jobs. Actual incentives will be based on project scope and size, following detailed discussions of the project between the company and the Development Authority. Augusta-Richmond County is a Tier Two county for 2019.

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Incentives for locating in Augusta

  • Available land and buildings
  • Infrastructure / grading assistance at the Augusta Corporate Park
  • Local tax assistance/abatements
  • $3,000 tax credit per new job created each year for five years
  • $3,500 tax credit per new job created each year for five years in Enterprise Zones
  • Amendment 74 tax assistance for manufacturing
  • Excellent location, equidistant from the country’s transportation center…Atlanta…and the country’s financial center…Charlotte
  • Sales and Use Tax Exemptions
  • Low cost of living *
  • Low housing costs
  • Low transportation costs
  • Well-trained and disciplined work force **
  • Low taxes
  • Excellent quality of life

* named Augusta as the “Most Affordable Place to Own A Home in the United States”

** Southern Business & Development magazine named Augusta as one of the “Top Locations in the South With Plenty of Talented Labor”

Tax Abatements

Tax savings (abatements) may be provided through the Augusta Economic Development Authority if a company chooses to finance its capital investment (land, building and equipment) using Industrial Revenue Bonds (IRBs). Pursuant to IRB financing, title to the assets is deeded to the Augusta Economic Development Authority and the deeded properties are leased to the company. The company will either (1) lease the land, building and equipment from the Development Authority for a nominal fee (usually $10 per year) with the company maintaining the annual amortization of the IRBs, or (2) the company will lease the land, building and equipment from the Development Authority with the rent being used to pay the bonds. The specific tax abatement is determined by the local board of assessors, but is usually about 50% of the normal ad valorem taxes. For example, a company may receive a 50% tax abatement for the entire life of the industrial revenue bonds but not to exceed 20 years.

Site Preparation

Augusta-Richmond County may provide some improvements to a property site in preparation for construction of a facility by a prospect. At the Augusta Corporate Park, owned by the Augusta Economic Development Authority, funds are available for infrastructure improvement to include on-site utilities, soil boring tests and grading.

Permitting Fees

Augusta-Richmond County may arrange for "concierge permitting" for obtaining necessary permits and/or provide a reduction in the required permit fees.

Utility Rates

A particular utility may negotiate a reduced rate with a prospective consumer. Any reduction would be based upon the consumer usage and other specifics to the project.

Infrastructure Improvements

Depending on specific needs and scope of a project, Augusta-Richmond County may provide improvements to a site such as an access road. Specific improvements would be determined in discussions with a prospect.

Freeport Exemptions

Augusta-Richmond County voters have elected to exempt the following types of commercial and industrial inventory:

  • Class 1 - Raw materials and goods in process of manufacture, 100% exemption
  • Class 2 - Finished goods produced in Georgia within the last 12 months, 100% exemption
  • Class 3 - Finished goods stored in Georgia within the last 12 months and destined for shipment out-of-state, 100% exemption

Augusta-Richmond County exempts 100% of all qualified inventory from manufacturers eligible for Freeport exemption. The deadline for filing an application for Freeport exemption with the Board of Tax Assessors is April 1 to receive the full exemption. For more information on Freeport exemptions click the link below:

Click here for more information.