In 2011, Fulton County and metropolitan Atlanta witnessed relative stabilization after an extended period of economic uncertainty and a difficult environment for financing capital projects. The Development Authority of Fulton County contributed to the recovery by identifying, evaluating and accessing financing options for investors.
The Development Authority considered bond Inducement Resolutions representing more than $565.6 million in capital improvement projects within Fulton County that accounted for the creation or retention of 2,587 projected jobs. With eight bond issues completed, project financing for 2011 totaled $224.8 million, contributing to the creation or retention of 972 projected jobs throughout Fulton County. New investment activity was projected to generate millions in new tax revenue for Fulton County and its local governments.
Significantly, the U.S. Treasury certified the Development Authority's Georgia Development Capital Fund as a Community Development Entity, opening the door for the Development Authority's participation in the federal New Market Tax Credit (NMTC) Program. The NMTC Program attracts investment capital to low-income communities by permitting investors to receive a tax credit against their federal income tax returns.
The Development Authority extended its participation in the Joint Development Authority of Metropolitan Atlanta during 2011, partnering with neighboring economic development entities to market the region and promote quality economic growth.
The Authority is a member of the Georgia Chamber of Commerce, the Metro Atlanta Chamber of Commerce, and the International Economic Development Council, which certifies economic development professionals worldwide. It works closely with the Georgia Department of Industry, Trade and Tourism to bring new businesses and industries to Fulton County.