By Helen Borland / Staff and John Fredericks / Staff

It's all about jobs these days.

Either you keep one, lose one or try to get one.

But now Roswell wants to go a step further – by creating new ones.

If all goes according to plan, Roswell will soon have a powerful economic development tool to attract new business to the city and provide an incentive for existing businesses to hire new employees.

Mayor Jere Wood touted a new tax incentive plan for the city brought forward last month by Greater North Fulton Chamber of Commerce CEO Brandon Beach. Wood said Beach's initiative is "unique to Roswell" because it’s the only city in North Fulton along the 400 corridor that can take advantage of Beach's opportunity. Other cities don't have a census block with the necessary concentration of poverty to meet the state's stringent guidelines.

POVERTY – WITH BENEFITS

In making application to Georgia, Roswell was forced to change the boundaries to focus on commercial corridors, based on the greatest opportunity for job creation. Additionally, city planners know the state will be looking closely at boundaries because they may be revising the legislation in the 2010 General Assembly session.

According to Alice Wakefield, Director of Community Development, the fresh re-development cash comes in the form of a maximum $3,500 income tax credit for every new employee a qualifying business hires for five years. "This is a good incentive to offer to businesses," she explained. As an example, a company that moves to the area could hire 10 new people and receive a $175,000 tax break over 60 months.

The sole purpose of the tax reduction is to induce companies to open or relocate to the city's beleaguered blighted areas, thereby creating jobs in the process. The "Opportunity Zone," as it is called, is based on the 2000 census data. The zone must have 15 percent or greater poverty according to the census statistics. The legislation was originally designed for rural Georgia, but any area that meets the criteria can apply.

Wakefield said the application is like a checklist. "The applications that are completely filled out correctly are the ones that get approved in a relatively short time," she explained. 

Previously, Wakefield had asked for a change in scope of the 2010 Community Development Block Grant for the Grove Way Community Project (formerly the Arts Village Infrastructure Project). According to Wakefield, over $462,000 has been approved for water and storm water infrastructure improvements. She asked for a change to include transportation and utilities in the same area. A change in scope was also recommended on the Swaybranch Drive CDBG Project to allow road improvement. The council approved the requests earlier this month.

UNION CITY AS THE MODEL

Joe Young, an attorney who was hired by the city as a consultant because of his expertise in getting Opportunity Zones approved, used Union City, one of his clients, as an example. He said even though there is no time line for the state to give its "OK," Union City's approval took less than ten weeks and attracted 1,200 new jobs in six months. Young stated that once the redevelopment tax credit has been approved, the city's businesses have ten years to utilize it. If no jobs are created, it will be taken away.

Young projects that future legislation may be passed that will not take away the redevelopment tax credit, but it may not fund new ones going forward.

BEACH BASH

The second public hearing regarding the Urban Redevelopment Plan and boundary map for the purpose of applying for the Opportunity Zone was held at the Feb. 8 Mayor and Council meeting. Wood asked Beach to speak to the subject because he originally brought the strategy for improvement to the attention of the city.

"I ask for your full support. I think it's a win-win [situation] for the citizens of Roswell and the business community. It gives us another tool in our toolbox for redevelopment and revitalization. Putting on my DOT (Department of Transportation) hat, if we can prove that we can create and recreate more jobs there, we'll be able to tie it in with building new roads and bridges in that area," explained Beach.

Wood queried Beach, "Can you assure me we're going to get some new jobs out of this?" Beach came back with conviction. "I can tell you; $3,500 tax credits for five years, I think we're going to do very well." Beach commented that according to State Sen. Chip Rogers (R-21) they're going to have 500 jobs in Cherokee County because of this tax incentive."We will work this, I promise you," Beach assured Wood.

Alice Wakefield, Director of Community Development, asked the council to approve the resolution. It was moved by Betty Price and seconded by Nancy Diamond and passed unanimously. Afterwards, Wood encouraged all the council members to "talk this up when you see our state representatives." 

Now that the City Council approved the application, it will be submitted to the state's Department of Community Affairs for approval. The Commissioner, Mike Beatty, makes the final decision.

When asked about its chances for quick approval, Young and Beach were optimistic.

But Wood said, "We'll get 'er done."