House Bill 793, sponsored by Representative Dominic LaRiccia (Douglas)extends Georgia’s existing tax exemption on construction materials for the expansion of the Georgia Aquarium and creation of a new museum in Cartersville.
How does House Bill 793 impact Georgia’s economy?
House Bill 793 helps facilitate a $100 million expansion of the Georgia Aquarium through a tax incentive related to construction materials for a new marine life predator exhibit currently under development. Additionally, HB 793 provides similar benefits for a new $35 million automobile museum in Cartersville in support of its development. Both projects will generate short and long term economic impact through jobs created in both attractions, the construction jobs related to each project as well as the ongoing operation of each.
How does House Bill 793 benefit Georgia businesses?
Tourism is one of Georgia’s largest employers and leading industries, and generates substantial growth and economic opportunities for businesses of all sizes throughout every industry sector. Georgia’s tourism industry supports more than 450,000 jobs and contributes approximately $60.8 billion to the state’s economy.
Morgan Law, Executive Director of Georgia Travel Association, discussed the economic impact of the legislation, “The Georgia Chamber and Georgia Travel Association commend the leadership of Representative LaRiccia, Senator Bruce Thompson, and the general assembly on their continued efforts to advance Georgia hospitality and tourism.”
To learn more about the Chamber’s continued efforts to keep Georgia the #1 state in which to do business, visit the Georgia Chamber website and view the Chamber’s 2018 Legislative Priorities and Scorecard Legislation. Visit www.gatravelassociation.com to learn more about the Georgia Travel Association.