Earlier this week, the Georgia Senate overwhelmingly passed a bill to create a Legislative Economic Development Council in the state. The council will evaluate the state’s overall economic recovery strategies, particularly business formation, reports the Savannah Morning News.
The council will be made up of both Senate and House members who will review state-funded activities toward economic development. The Economic Development Council will assess tax exemptions and credits as well as the Department of Economic Development’s expeditures, says ajc.com.
State officials are enthusiastic about the potential improvements the council will offer the state with respect to new business incorporation and job generation. It is also a project that they consider a major responsibility.
“This is an opportunity for us to formally evaluate all of the programs that are funded anywhere in the budget in the name of economic development,” Senator Chip Pearson told ajc.com. “As stewards of taxpayer dollars, it’s our responsibility to ensure that money used for economic development is utilized effectively to promote job creation and growth.”
Entrepreneurs in the state may soon see incentives to start all business types; to learn about how to incorporate a business, potential business owners can seek the guidance of professionals at an incorporation service.