City of Jonesboro officials have applied for the Rural Zone program. The state program will provide tax credit incentives to promote revitalization by encouraging investment, job creation and economic growth in long established business districts designated as Rural Zones by the Department of Community Affairs.
Established by Governor Nathan Deal in 2017 through HB74, Rural Zone Communities are eligible for job tax credits, investment credits, and rehabilitation credits for small business owners as well as investors in the designated Rural Zone. The Commissioners of DCA and the Department of Economic Development will designate up to 10 Rural Zones per year, with benefits earned for five years.
Communities must meet guidelines in order to apply. If attained, the Rural Zone designation will be yet another tool in the revitalization of Downtown Jonesboro, city officials said.
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