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Economic Opportunity Fund

The City of Atlanta, under the direction of Mayor Shirley Franklin, has made the creation of new jobs a top priority. In order to encourage economic development by increasing opportunities for the development of new jobs, the Mayor and the Atlanta Development Authority (ADA) created the New Century Economic Development plan to support the growth of target industries and business ventures that have demonstrated opportunities for significant job growth. This economic development plan called for the creation of an Economic Opportunity Fund for the purpose on investing in job creation projects.

Approved by the Mayor and the City Council in 2006, the Economic Opportunity Fund is administered by the ADA to encourage business recruitment, retention and expansion by increasing capital available for development and business growth, attracting major events to the City, increasing the economic vitality of underserved areas and performing other special projects having a positive economic impact on the City.

How Does It Work?

The ADA evaluates projects for participation in the Economic Opportunity Fund on a case-by-case basis evaluating employers according to their resource capability to maintain or develop business facilities within the City of Atlanta, the likelihood of creating jobs according to quality and quantity thresholds developed by the ADA, compliance with annual disclosure requirements to evidence conformity with ADA’s job quality and quantity thresholds, commitment to maintaining a presence in the City beyond the period for which incentives have been granted and agreement with monitoring and enforcement activities by the ADA and the City of Atlanta.