Mayor Andre Dickens introduction legislation to the Atlanta City Council this weeke that will create a new Downtown Enterprise Zone in advance of the FIFA World Cup matches.
The designation is part of the Mayor’s Neighborhood Reinvestment Initiative across the city to bring economic opportunity to every child in Atlanta, according to a press release.
“As part of our Administration’s unwavering commitment to changing generational outcomes for Atlantans, we are using every tool at our disposal to bring investment to high opportunity areas like Downtown to create whole, healthy neighborhoods that will support residents, visitors, and a growing workforce,” Dickens said in a statement. “The new Downtown Enterprise Zone will strategically harness the revenue and momentum of the World Cup events to create investment for new affordable housing and small businesses.”
The new Enterprise Zone geography, designated by the State Department of Community Affairs (DCA), will include nearly 30 acres of Downtown, roughly bordered from Marietta Street NW, Peachtree Street SW, Trinity Avenue SW and Ted Turner Drive / Forsyth Street SW.
The creation of the Enterprise Zone will allow the City to capture up to 5% of gross sales and use revenues generated by qualifying businesses in the Zone to reinvest into projects and programs in the area, the release said.
“The timing of this legislation is no accident,” Councilmember Jason Dozier, who represents District 4, including Downtown, said in a statement. “No single policy is a panacea, and this initiative is one part of a broader, coordinated effort to help Downtown Atlanta live up to its fullest potential as a neighborhood, as a community and as a destination. The Enterprise Zone helps ensure that the economic activity generated by major events translates into lasting benefits and sustained momentum for residents and businesses that call Downtown home while providing substantial financial support for our community development work for years to come.”
The revenue generated by the Enterprise Zone will depend on the number and gross receipts of qualifying businesses in the zone that collect sales and use tax, so increasing the number of viable businesses is critical to the Zone’s success.
“This Enterprise Zone ensures that as the district grows, we are simultaneously investing in the affordable housing and small businesses needed to support that growth,” Atlanta Ventures CEO David Cummings said in a statement.
Atlanta Ventures controls a 58-building portfolio of historic mixed-use properties in known as South Downtown, which has a redevelopment plan focused on small local businesses with five open to date, and another 11 opening by June 2026.
