Frequently Asked Questions
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 insure 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 to deliver at least 70% of the committed benefits within an established performance period which will generally end 24 months after the completion of the funded activity (as with current protocols, extensions of the performance period will be granted for good cause); and
- Businesses that deliver less than 70% of their committed public benefits will be subject to a prorated repayment requirement. Click here to view the sample P & A Agreement.