Governor Perdue Signs Strategic Industries Tax Credit
|Thursday, April 21, 2005||
Contact: Office of Communications 404-651-7774
Announces Creation of the Center of Innovation for Manufacturing Excellence
ATLANTA – Georgia companies creating new jobs will now be eligible for a $500 per job tax credit thanks to legislation signed into law today by Governor Sonny Perdue. During the Manufacturer of the Year Awards Luncheon, Governor Perdue signed House Bill 389, the Strategic Industries Tax Credit. HB389, a component of the Governor's 2005 legislative agenda, was sponsored by Representative Jay Roberts.
“It is my goal to ensure that businesses in any industry desiring to grow in Georgia have all the necessary resources for expansion,” said Governor Sonny Perdue. “This tax credit encourages and rewards existing industries for their commitment to growing jobs in Georgia.”
HB389 allows for a $500 per job tax credit bonus for each new full-time position created by existing business enterprises that have been headquartered in the state for three or more years. The bill became effective upon the Governor's signature today.
Governor Perdue also announced that the Georgia Department of Economic Development (GDEcD) and the Department of Technical and Adult Education (DTAE) will open the Governor's Center of Innovation in Manufacturing Excellence (CIME) this fall at Lanier Technical College in Gainesville, Georgia. CIME will assist manufacturers with applied research and a highly skilled workforce trained to respond to the rapid changes taking place in the manufacturing sector and to fuel its productivity. Other partners in the CIME include the Department of Community Affairs, the University System of Georgia and private manufacturing and technology companies.