Changes are brewing that would incentivize the City of Atlanta to help create and sustain more businesses in some of downtown’s oldest—and formerly sleepiest—blocks.  

Atlanta Mayor Andre Dickens’ office this week announced new legislation that will establish a Downtown Enterprise Zone in advance of 2026 FIFA World Cup matches in the city, which begin in 53 days. 

The taxed zone would cover roughly 30 acres between Centennial Yards and Underground Atlanta, south of Woodruff Park, with a goal of accelerating downtown revitalization efforts that have noticeably surged in recent months. 

The Enterprise Zone will allow the city to capture up to 5 percent of gross sales generated by qualifying businesses within the zone’s boundaries. That money, per city officials, would be reinvested into projects and programs that aim to uplift the area. 

The amount of revenue collected by the city would hinge on the gross receipts and number of businesses that qualify in the zone—those that collect sales and use tax—meaning that a higher number of businesses would translate to a better chance of the zone being successful, per a city announcement Wednesday. It’s part of the Mayor’s Neighborhood Reinvestment Initiative to boost economic opportunity across the city. 

The State Department of Community Affairs has designed the zone’s geography. The rough borders would be Marietta Street NW, Peachtree Street SW, Trinity Avenue SW, and Ted Turner Drive/Forsyth Street SW.

No expiration date for the zone’s revenue collection will be set. 

Rough overview of the 30-acre Downtown Enterprise Zone boundaries east of Centennial Yards. Google Maps/Urbanize Atlanta

David Cummings, Atlanta Ventures CEO, believes the Enterprise Zone would ensure an investment in affordable housing and small businesses that will be needed to support the growing district, per the city’s announcement. 

Cummings controls 58 historic buildings with mixed uses in the area, and his company’s redevelopment plans are focused on small local businesses. Five are open to date, and another 11 (including the third location of popular taqueria El Tesoro) are set to open by June.  

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“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,” said Dickens in the announcement. The new zone “will strategically harness the revenue and momentum of the World Cup events to create investment for new affordable housing and small businesses.”

“No single policy is a panacea, and this initiative is one part of a broader, coordinated effort,” added councilmember Jason Dozier, whose District 4 includes downtown. “The [legislation] 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.”

Sound like a plan, ATL? 

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On a related note, and by popular online demand, we're sharing the below flyer for a pre-World Cup "Community Day" the first day of June: 

Submitted

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• Downtown news, discussion (Urbanize Atlanta)