Opening or expanding a business can be expensive, and incentives offer financial assistance that can help cut costs or gap finance a project. Different communities take different approaches to incentives. The City of Canton offers an extensive list of incentives that are available based on geographic area or type of investment. Here is a summary of our existing incentives:Certificate of Occupancy Waiver — The economic development manager may waive fifty percent of Certificate of Occupancy fees and may go to the mayor and council to request up to 100%, depending upon the project’s economic impact.
Central Business District (CBD) — Businesses that locate within the CBD may qualify for an eighty percent reduction on all new water and sewer tap fees.
Central City Opportunity Zone — Businesses that locate within the central city opportunity zone may become eligible to receive $3,500 per created job when two or more jobs are created.
Downtown Development Revolving Loan Fund (DDRLF) — Available through the Georgia Department of Community Affairs (DCA), the DDRLF offers below-market rate financing to fund capital projects in core historic downtown areas and adjacent historic neighborhoods where the DDRLF will spur commercial redevelopment.
Façade Improvement Program — The Canton Main Street Program, in partnership with Canton Tourism, administers a grant program for downtown property owners seeking to improve the exterior of their buildings. Property owners can apply for up to $2,500 in matching grant funds that can be used for a variety of exterior work.
Freeport Exemption — The City offers a 100% Freeport Inventory Tax Exemption. This exemption covers raw materials and goods in process of manufacture, finished goods produced in Georgia within the last twelve months and finished goods stored in Georgia within the last twelve months that are destined for shipment out-of-state.
Riverstone — Businesses that locate within Riverstone may qualify for a thirty percent discount on new sewer tap fees.
River Mill District Livable Centers Initiative (LCI) Enterprise Zone — Businesses that locate within the River Mill LCI Enterprise Zone may qualify for abatement of occupational tax, inspection fees and other fees based on the project’s economic impact. Property tax abatement is provided for a specific period of time based on the value of investment into existing property improvements. Eligible businesses must create and maintain at least five new full-time jobs.
Technology Ridge Opportunity Zone — Businesses that locate within the Technology Ridge Opportunity Zone may become eligible to receive $3,500 per created job when two or more jobs are created.
Waiver of Permit/Impact Fees — Depending on the project’s economic impact, the mayor and council may reduce or waive all building permit fees associated with the business relocation/expansion, including all fees associated with new construction, plan review and tenant finishes.
While the City is not obligated to incentivize a project, when we say “Canton is open for business,” we mean it. Our commitment to being business-friendly means we are willing to help any way we can, even if an incentive is not the end solution.
to your business!