An example of one of Atlanta’s current opportunity zones.
The city of Atlanta has decided to add more areas to the opportunity zone currently encompassing Auburn Ave, Marietta St, Fort McPherson, and parts of Midtown. Atlanta Mayor Kasim Reed announced on Monday that portions of Cleveland Avenue and Metropolitan Parkway will be added to his opportunity zone.
Businesses inside the opportunity zone receive an income tax credit of $3,500 for each new job they create, as long as they create at least two jobs. The credits are good for up to 5 years, or $17,500. Reed says that opportunity zones such as this one lead to job creation, neighborhood revitalization, and increased investments and create overall economic competitiveness.Share