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Opportunity Zone Archives - Roswell Inc

Delta Dental Expansion Brings 200 Jobs to Roswell

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Stonebridge II at Sanctuary Park in Roswell, GADelta Dental Insurance Company, part of the nation’s largest dental benefits carrier, has signed a lease for an additional 51,886 square feet in Sanctuary Park, increasing its footprint in the office park by nearly 35 percent to 215,265 total square feet.

In October 2017, the company will take occupancy of the top two floors at Stonebridge II, located at 1120 Sanctuary Parkway, which is the portion of the office park within Roswell city limits. The expansion allows Delta Dental to increase its total number of employees in Georgia from about 800 to 1,000, and most of the growth will take place in the company’s customer service unit.

The lease is next to its current six-story building, located in the Alpharetta portion of Sanctuary Park.

Roswell Inc has been involved with this project since February of 2016.

“We knew this office space would become available before it hit the market, and also knew Delta Dental was looking at expansion opportunities locally, so we were able to connect the dots and get all the right people at the table in a timely way to make this deal happen,” said Steve Stroud, executive director of Roswell Inc. “Anytime you add this many jobs to a local economy, it’s a big deal for the community, and we are thrilled to have Delta Dental expand its operations into Roswell.”

Delta Dental is part of a group of companies under common management that collectively serve 36.5 million enrollees nationwide. The Sanctuary Park location houses one of three national customer service centers as well as sales, enrollment and other key departments

“We’re delighted to have found a LEED Gold building, and we’ll be building out the interior to those standards as well,” said Tonia Leonardos, facilities director for Delta Dental.

The seven-year lease was brokered by Steve Joseph of CBIZ Gibraltar Real Estate in Chicago in partnership with Mitch Kahlert and James Sanders from ICON Commercial Interests in Atlanta, with agency leasing representation by Jeff Bellamy and Adam Viente with Jones Lang LaSalle in Atlanta. The Metro Atlanta Chamber was also a significant partner in making this deal happen.

This expansion takes place within the boundary of the Roswell Opportunity Zone, an area of the city designated as part of the state incentive program to encourage redevelopment and revitalization. The incentive offers companies tax credits for new jobs created for up to five years, which was a large factor in securing the lease.

What’s the Opportunity Zone Tax Credit?

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Roswell Opportunity ZoneOur recent Annual Business Survey showed that 62% of respondents were not familiar with Roswell’s job tax credit called the Opportunity Zone. Based on that data, we thought this would be a great time to provide some fresh information about this incentive and how it works.

The Opportunity Zone is a state incentive program available to local governments that apply to have an area of their community designated as an Opportunity Zone to encourage redevelopment and revitalization in certain older commercial and industrial areas.

Roswell’s Opportunity Zone is one of the largest in the state and is available to any Roswell business located within the zone – whether you are a new business or have been around for 20+ years.

Here’s how it works:

  • If your business hires at least two new employees in one year, your company is able to receive a $3,500 tax credit per new job created for up to five years.
  • There is no maximum limit on the number of new jobs created that can take advantage of the tax credit.
  • Your business must be registered in Roswell and be located within the boundary of the Opportunity Zone to qualify – View the Opportunity Zone Map here
  • The job credit is used against 100% of Georgia income tax liability and withholding tax.
  • You can only apply for the tax credit through 2020. (The five-year credit, itself, can extend past 2020.)

Many of you indicated in the survey that you anticipate hiring additional employees in the coming year.

If you are one of those businesses, and you are located in the Opportunity Zone, make sure to contact us to learn more about how to take advantage of this incentive! You can email Debra Ewing, our Business Outreach & Development Coordinator, at debra@roswell-inc.org.

You can also learn more about the program and apply through the City of Roswell’s website.