Hayestone-Brady Opportunity Zone Designation on Hold, Says SCDA
The Stephens County Development Authority said recently that its application for an Opportunity Zone designation at the Hayestone-BradyBusinessPark on Highway 17 is on hold at the state level.
Development Authority Executive Director Tim Martin made that announcement at last week’s Development Authority monthly meeting.
Martin said that state legislators want to examine the program and its cost to the state during this upcoming session of the General Assembly, which begins in January.
The Opportunity Zone program allows counties to apply to the state’s Department of Community Affairs to make certain properties eligible for the program that gives additional state tax credits to businesses that locate on properties designated as opportunity zones.
According to Martin, the opportunity zone designation has been crucial previously in getting companies to locate on two such properties in StephensCounty.
Meanwhile, the Development Authority also reported last week that efforts are ongoing towards a proposed solar panel farm in StephensCounty.
Earlier this year, the Stephens County Development Authority applied on behalf of a developer, United Renewable Energy, to Georgia Power to locate a solar panel farm site on land the Development Authority owns off Wolf Pit and Turner Roads.
It is part of a Georgia Power initiative to increase its use of solar power.
According to Martin, the Development Authority would lease the land to United Renewable Energy, who would construct and run the project.
Last week, the Development Authority authorized an extension of its agreement with United Renewable Energy as that company continues to work with Georgia Power on the site.