Development Authority Grants Tax Abatements for The Home Depot

The Home Depot has been given a large tax abatement by the Development Authority of Cobb County, a tax break which will help keep the company’s corporate headquarters in the Cumberland area.

According to Amy Selby of the Cobb Chamber of Commerce, the board of the Development Authority voted unanimously to grant The Home Depot $200 million in tax abatements over a ten year period.

According to the Marietta Daily Journal, the abatements will allow the company to renovate its nearly 40 year old facilities in the county, as well as paying for work on a structure on Franklin Road that the home improvement giant has eyes on.

The company says that the renovations, which will now proceed due to the abatements, could bring 2,000 to 3,000 new jobs to the area over the next decade.

A Home Depot vice president told the Cobb County Board of Education that without the abatements, he would recommend abandoning the Cumberland site for another site in the Atlanta area or a site in an entirely different city, the MDJ said.