Alpharetta, Ga. (Aug. 15, 2019) – The City of Alpharetta and Tech Alpharetta, the nonprofit organization helping the City of Alpharetta to lead in innovation, announced today that the Alpharetta City Council has approved extending Alpharetta’s Local Jobs Creation Grant, an incentive program for companies to hire residents of the city. The Local Jobs Creation Grant was created by the Alpharetta Development Authority to enhance the Georgia State Tax Credit Programs such as the Quality Jobs Tax Credit and Opportunity Zone Credit program, and to create jobs for City of Alpharetta residents.
Under the Local Jobs Creation Grant, the Alpharetta Development Authority will award an additional $500 per new job created in tandem with the State incentive. The new job must meet the same criteria as defined in the State incentive program to be eligible.
The incentive will only be granted for creation of new jobs where the newly hired employee is an Alpharetta resident. The resident must be employed for at least one year before the award will be paid out to the employer.
In addition, a standalone award of $250 per new job created is now available for Tech Alpharetta graduate companies that, upon outgrowing the Tech Alpharetta Innovation Center startup incubator, locate their business in Alpharetta city limits and occupy a commercial office space for at least 12 months. Employees must be Alpharetta residents.
“With this new component of the program in place for Innovation Center graduates, we hope they continue investing, creating jobs and driving innovation here. We see this as a great way to support the emerging enterprises within our local tech ecosystem,” shared Matthew Thomas, Economic Development Manager for the City of Alpharetta.
Karen Cashion, CEO of Tech Alpharetta, added “we have had a number of new tech companies graduate from our Innovation Center and remain in Alpharetta, where they continue to grow and create new tech jobs. The city’s new incentive for our startups offers an additional reason for our graduating companies to headquarter and grow right here in Alpharetta, where they will be in good company with the more than 700 tech companies that already call Alpharetta home.”
About the City of Alpharetta
Alpharetta, named the best place to live in Georgia by Money Magazine, is the 12th most populous city in in the state and boasts some of the best schools in the country. Commonly referred to as the Technology City of the South, Alpharetta is home to 67,000 residents, with more than 130,000 people employed by local companies. While the community now has the trappings and success of a metropolitan city, Alpharetta remains known for its sense of community; an ideal environment for raising families, making friends, and enjoying a quality of life that is second to none. Visit the City of Alpharetta’s Grow Alpharetta website at www.GrowAlpharetta.com.
About Tech Alpharetta
Tech Alpharetta (previously the Alpharetta Technology Commission), the first organization of its kind in Georgia, was established in 2012 by the City of Alpharetta and is an independent, 501(c)(6) nonprofit organization today. The organization runs a strategic advisory board of Alpharetta’s leading technology companies, monthly technology events for tech executives, and the Tech Alpharetta Innovation Center, a flourishing tech startup incubator. For more information about Tech Alpharetta, please go to www.techalpharetta.com.
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