The state has designated some intown Athens acreage including Oneta, Bryan and Miles streets as an Opportunity Zone. The designation includes the tract occupied by Southern Mill, slated for redevelopment as a mixed-use residential and commercial project under a plan approved earlier this week by Athens-Clarke County commissioners.

According to a news release from the county, “Opportunity Zones are local redevelopment areas that have been designated as areas needing assistance in redeveloping by the Georgia Department of Community Affairs. The designation of this new zone provides economic assistance to businesses located within the newly approved area in the form of access to Georgia’s highest job tax credit of $3,500 per new job created.

“Business must create at least two net new jobs within a tax year and the new jobs must be full-time, permanent jobs of at least 35 hours per week. The average wage of the new jobs created must pay above $435 per week or $22,620 per year. New jobs must offer health insurance upon employment; however, the employer does not have to pay for such insurance.”

The credits can be claimed for up to five years, as long as the jobs are maintained, according to the county’s announcement.

The latest designation creates the eighth Opportunity Zone in Athens-Clarke County. The others include portions of Chase Street/Newton Bridge Road, Lexington Road, Oak Street, North Avenue, Hawthorne Avenue, West Broad Street and Baxter Street.