EDGE Fund FAQ
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Can EDGE funds be used to give one Georgia community an advantage over another Georgia community?
No. The purpose of the EDGE fund is to give a qualified county in Georgia the ability to close a deal (business expansion or location) when competing with a community in another state or another country.
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Under the EDGE fund, what is a competitive project?
A project is considered "competitive" when a company is considering a Georgia community as well as a location from outside the state of Georgia.
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What are examples of eligible uses of EDGE Funds?
Projects relating to public infrastructure, land acquisition, site development, job expansion and retention as well as new business locations.
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What is the Performance and Accountability Agreement, and why is it required? Is there a sample P & A Agreement?
The EDGE Accountability Agreement was established to ensure that public benefit will be derived from EDGE incentives granted to local governments for businesses that locate or expand within the state. As such, the Agreement provides for:
- Each business assisted with EDGE financial assistance to be accountable for the delivery of appropriate public benefits that include private capital investment as well as a specific number of jobs to be created or retained;
- A standard clawback agreement to be executed between the local development authority and the business, that will be assigned without recourse to the OneGeorgia Authority for EDGE awards;
- Benefits to be measured as an average of the percentages of the actual number of full time equivalent jobs created or retained (as applicable) and actual private capital invested;
- Each assisted business must meet the performance threshold outlined in the PAA within an established performance period (as with current protocols, extensions of the performance period will be granted for good cause); and
- Businesses that deliver less than the established performance threshold of their committed public benefits will be subject to a prorated repayment requirement.
