Driving Economic Development in Macon: A Perfect Blend of Incentives and Opportunities

As commercial real estate agents for Fickling and Cmpany, Trip Wilhoit and Patty Burns are well aware of the numerous factors that attract businesses to a specific location. One of the key considerations for any business is the economic development prospects in a particular area. Fortunately, Macon-Bibb County Industrial Authority (MBCIA) is working diligently to create a competitive business environment that fosters success. In this blog post, we will shed light on the variety of customized incentive packages offered by MBCIA, which seek to attract businesses and propel economic growth in Macon.

Customized Incentive Packages

One of the biggest advantages of partnering with MBCIA is their commitment to developing bespoke incentives for qualifying businesses and industry partners. MBCIA works closely with the State of Georgia, as well as regional and local partners, to create precisely tailored solutions that meet the specific needs of each business. By understanding the unique requirements of every industry, MBCIA ensures that no opportunity is missed when it comes to driving economic growth in Macon.

1. Property Abatement:Customized Incentive Packages:

MBCIA offers property abatement as part of their incentive package, enabling qualifying businesses to receive tax exemptions on their property improvements for a certain period of time. This allows businesses to invest in their infrastructure without the burden of immediate tax obligations, thereby freeing up resources for further expansion and development.

2. Grant Financing / Discretionary Funding:

In addition to property abatement, MBCIA assists businesses in accessing grant financing and discretionary funding. These funds can be instrumental in covering various costs associated with starting or expanding a business, such as equipment purchases, workforce training, or infrastructure improvements. This financial support can inject momentum into businesses, enabling them to realize their full potential in Macon.

3. Tax-Exempt Industrial Revenue Bonds:

MBCIA also offers tax-exempt industrial revenue bonds, providing eligible businesses with an advantageous financing option. These bonds allow businesses to secure low-cost capital for investment in manufacturing facilities, equipment acquisitions, or research and development initiatives. By leveraging this funding mechanism, businesses can make significant strides in their growth while maintaining financial stability and flexibility.

4. Foreign Trade Zone 104

One of Macon's unique advantages is its inclusion in Foreign Trade Zone 104. This designation allows businesses engaged in international trade to take advantage of certain benefits, such as duty-free treatment on imported goods and deferred payment of customs duties. Businesses operating within this area can streamline their import and export processes, reduce costs, and enhance their global competitiveness.

5. Business Retention & Expansion

MBCIA recognizes the importance of supporting existing businesses in Macon. To that end, they offer business retention and expansion programs. These initiatives aim to assist local businesses in overcoming challenges, expanding their operations, and maximizing their potential. By fostering long-term partnerships with local businesses, MBCIA supports their growth and contributes to the overall economic vitality of the region.

6. Infrastructure Assistance

To facilitate business growth and attract new investments, MBCIA provides infrastructure assistance to qualifying businesses. This may include assistance with site selection, access to utilities, transportation infrastructure improvements, and other necessary amenities. By addressing infrastructure needs, MBCIA ensures that businesses have the necessary resources to thrive and contribute to the economic development of Macon.

7. Sales Tax Exemption

MBCIA helps businesses reduce costs by providing sales tax exemptions on certain eligible purchases. This incentive allows businesses to allocate their funds towards other critical areas, such as research and development, marketing initiatives, or employee training. By reducing the financial burden, MBCIA enables businesses to focus on innovation and growth.

8. Local Vendor Programs

MBCIA actively encourages local businesses to participate in economic development effortsby offering local vendor programs. These programs aim to connect local suppliers, contractors, and service providers with businesses relocating or expanding in Macon. By supporting local businesses, MBCIA strengthens the local economy, fosters community engagement, and promotes sustainable growth.

As commercial real estate agents, Trip Wilhoit and Patty Burns understand the significance of economic development in attracting businesses to an area. Macon-Bibb County Industrial Authority (MBCIA) stands out as an exceptional partner in driving economic growth in Macon. Their ability to design customized incentive packages, tailored to the specific needs of each business, ensures that each opportunity is maximized. With a wide array of incentives such as property abatement, grant financing, tax-exempt industrial revenue bonds, and more, MBCIA helps businesses thrive in Macon. By actively supporting business retention and expansion, investing in infrastructure, and fostering local partnerships, MBCIA creates a business environment that is primed for success. With MBCIA's support, Macon continues to evolve into a thriving hub of economic opportunity.

To learn more or ask questions, call Patty Burns and Trip Wilhoit today.

Trip Wilhoit
(478) 960-4080
Trip@Fickling.com

Patty Burns
(478) 951-5100
Patty@Fickling.com

No Slow Down in Commercial Property – Adapting with New Trends

As we emerge from a challenging year, we’re excited to see new trends appear on the horizon. Especially for commercial property and mixed use property in middle Georgia. A combination of retail, residential, office and industrial is a trend that we cannot ignore going forward, and it’s certainly one that Patty and Tripp can support with their portfolio of commercial properties throughout Macon, Milledgeville and other key middle Georgia areas.

Commercial Property means Mixed Use Property

In its most distilled form, mixed use property is exactly as it says. A combination of two of more types of real estate. So, we’re seeing an emergence of office space that also contains residential units, or industrial properties developing in pedestrian and residential settings.

Adapting to the emerging markets has allowed businesses to stay on track with their own growth and development plans, while coping with a different environment for commercial customers. This also results in providing greater stability across the board – everyone is in a better position, financially. By combining uses, the developers and property owners are better able to provide for their own tenants and resident businesses, who are also likely to experience challenges during this time.

Middle Georgia Commercial Growth Opportunities

Even large-scale industrial properties are experiencing a renaissance in lieu of the pandemic. Factories, warehouses, and containers throughout middle Georgia are being repurposed to create functional office and residential spaces, reducing our carbon footprints and supporting more sustainable models of property development. And, with more families living in multi-family situations and more people sharing homes with fellow renters, our multi-family units just make sense.

Find a wide range of industrial and commercial properties in our listings, and talk to us if you have any questions about alternative development options. Mixed use and repurposed properties are here to stay – don’t get left behind, call us today, or search our listings here.

Malls & Big Box Retail Centers Transformation

For years, malls and big box shopping centers have been the mainstream choice when it comes to retail shopping.  In the last few years, malls have somewhat fallen out of favor and some big box retail centers have closed and relocated to more popular areas with more growth.  That in turn creates a lot of vacancy in these big commercial buildings.

Companies are now taking advantage of these vacant buildings and repurposing them.  Now with the internet, shopping has slowly switched from the brick and mortar shopping experience to more on-line shopping.  And now with the COVID-19 virus, on-line shopping has increased even more.

These situations have created a transformation where the vacant malls and big box centers are being transformed and repurposed into large distribution centers and industrial warehouses.  Companies like Amazon are using these properties for their regional fulfillment centers.  Companies like Fed-X are using the buildings for distribution centers and warehousing.

This trend has been going on for a few years now.  But with the popularity of the internet and the change COVID-19 is creating throughout the world,  it is predicted that it will increase in popularity drastically in the near future.

Malls are being transformed from retail outlets into call centers, apartments, and more.

Middle Georgia Commercial Real Estate Investors

Below you will find a list of our Featured Investment Properties in Eatonton, Macon, Milledgeville, Locust Grove, Fort Valley and Branch, Georgia.  If you do not see exactly what you are looking for, please call us today. 

Trip Wilhoit: 478-960-4080   |  Patty Burns: 478-951-5100 

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