Newnan launches redevelopment incentive program
Newnan last week announced the launch of an economic development incentive program that targets redevelopment projects.
Newnan Business Development Director Hasco Craver said the goals of the policy include attracting and retaining a variety of employment opportunities and encouraging and supporting a high level of diverse, quality businesses with an emphasis on nurturing businesses that contribute to the city’s sales and property tax base so that needed infrastructure, physical amenities, services and expansion of such services are provided. An additional goal includes sustaining the long-term economic well-being of the city and its citizens through redevelopment and revitalization efforts.
Craver said the economic development incentive policy targets redevelopment opportunities that will diversify the city’s economic base and continue to provide for the fiscal health of the community while respecting the environment and unique community atmosphere present in Newnan.
Incentives built into the policy for qualifying businesses include expedited permitting, waiver of permit fees, bond financing and property tax reductions, and waiver of occupational taxes, Craver said.