GWINNETT– July 18, 2016– Peachtree Corners city council is considering giving tax breaks to new and emerging technology companies that locate in the city.
According to local reports, a new ordinance under consideration would create a tax exemption for businesses “in certain fields related to high technology, life sciences, information technology and intellectual property.”
The city seeks to reduce start-up costs for new businesses by providing specific regulatory and taxation relief until such business ventures become ready to compete in the marketplace. The exemption would last for three years, or until the business has earned $1 million in gross receipts.
City council will meet again on the matter this Tuesday, July 19, at 7 p.m. at city hall.