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Economic Analysis 21-18

Georgia Agribusiness and Rural Jobs Act

December, 2021

 

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Overview

This economic analysis of the Georgia Agribusiness and Rural Jobs Act (GARJA) was conducted in accordance with O.C.G.A. § 28-5-41.1 (SB6). This report includes estimates of fiscal and economic impacts, as well as public benefits resulting from the GARJA. In addition, the report discusses compliance with investment and reporting requirements, use of other economic incentives, and similar programs in other states.

Established during the 2017 legislative session, GARJA provides access to capital for Georgia businesses located in rural areas, and tax credits to certain entities that make eligible capital investments. O.C.G.A. §33-1-25 establishes requirements for rural or small business investment companies (Rural Funds) that make investments, rural investors that provide Rural Funds with capital, and businesses that receive investments. Statute also tasks the Department of Community Affairs with various administrative and oversight responsibilities, including approval of up to $100 million in qualified investments.

This analysis was conducted in partnership with Georgia State University’s Fiscal Research Center.