Politics & Government
New Opportunity Zone Could Come to Smyrna
The opportunity zone proposal could be submitted to the state for approval as soon as next Tuesday.
An area of Smyrna could be deemed an "economic opportunity zone" and submitted to the state for approval at the Sept. 3 Smyrna City Council meeting.
The opportunity zone would be located on Spring Road between Atlanta and Jonquil roads, and would give small business owners a $3,500 tax break for every job created after creating two or more. Eligible businesses can claim the job creation tax break for five years after the jobs are created, as long as the jobs are maintained.
According to the Georgia Department of Community Affairs, the department will consider economic opportunity zones in areas or next to areas with a poverty level above 15 percent where other economic revitalization efforts are already underway.
The Enterprise Zone Employment Act of 1997 empowers local government to “waive, amend, or otherwise modify” any ordinances that may hinder the development of an opportunity zone.
The new zone, if approved, would not be Smyna's first. According to the Marietta Daily Journal, some 677 acres of the city have already been designated as an economic opportunity zone.
The city council will meet to send their proposal along to the state for approval on Sept. 3 at 7:30 p.m. at Smyrna City Hall.
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