Downtown Macon is already home to over a quarter of the region’s jobs. Businesses are attracted downtown for a variety of reasons including the ability to walk to dozens of restaurants for lunch, proximity to vendors or clients, and the ability to attract and retain talented young workers. There are many incentives to help you open, move or grow your business downtown.
Loans and Financing
In 2015, Founding Chair of NewTown, Dr. R. Kirby Godsey, launched the NewTown Initiatives Fund with a generous donation. This fund is a combination endowment and line of credit. With this fund, NewTown is able to consider a wide variety of loans, including business loans. Check out the Business Lending section of our website to learn more and apply.
The Macon-Bibb County Economic and Community Development Department partnered with Main Street Macon to offer Marketing Grants of up to $1,500 to businesses in Macon-Bibb County. Applicants must develop a proposal for a marketing campaign including a budget. Applicants must also provide a 10% match for any grant award that is made. Instructions to apply can be found on the Main Street Macon website.
Several locally-designated Opportunity Zones (OZ) are located in downtown, and most properties are eligible to be added to an OZ. Businesses located within an OZ are allowed a job tax credit of $3,500 per net 2 new full-time jobs (subject to other restrictions). This credit can be carried forward up to ten years and applies first to income tax liability, then to withholding.
Equity & Venture Capital
Thanks to a 2016 grant from the Downtown Challenge Fund at the Community Foundation of Central Georgia, NewTown Macon expanded our business support to include a venture capital fund for businesses seeking to open, expand or relocate to downtown Macon. Equity investments can be structured as convertible debt, fixed priced options or traditional equity. If you are interested in soliciting an equity investment, the process is the same as applying for a business loan. Simply visit our business lending webpage and select that you are interested in offering NewTown an equity stake. Our staff and business loan committee will process your application, and if appropriate extend an equity offer to you.