Deal announces OneGeorgia job creation and investment grants

Gov. Nathan Deal and members of the OneGeorgia Authority Board met today to approve $8 million in grants and loans from OneGeorgia Authority’s portfolio of financing programs. These awards will assist economic development projects in rural Georgia aimed at creating jobs, stimulating private investment, supporting and retaining existing jobs and enhancing  regional competitiveness.

“Job creation is my number one priority,” said Gov. Deal. “In these tough times, investment in the private sector and development of Georgia’s infrastructure are key to revitalizing our economy. I look forward to the growth these grants will help provide, particularly in our hardest-hit communities.”

The nine Economic Development Growth and Expansion (EDGE) awards, totaling $2.5 million, are leveraged against approximately $310 million in total project costs. These awards are projected to create more than 1,300 jobs and retain an additional 1,075.

Development Authority of LaGrange/Dae Ha America Corporation

• EDGE award: $100,000; total project cost: $7,580,000
• Total jobs: 44 new jobs in two years; interstate competition: Alabama

Development Authority of Elbert County, Elberton and Bowman/MollerTech South, LLC

• EDGE award: $200,000; total project cost: $9,990,000
• Total jobs: 75 new jobs in two years; interstate competition: South Carolina

Development Authority of LaGrange/Hanil E-Hwa Interior Systems Georgia, Inc.

• EDGE award: $300,000; total project cost: $7,479,420
• Total jobs: 173 new jobs in three years; interstate competition: Alabama

Griffin-Spalding County Development Authority/Caterpillar, Inc.

• EDGE award: $500,000; total project cost: $120,512,000
• Total jobs: 206 new jobs in three years, plus 600 retained jobs; interstate competition: North and South Carolina

Macon/Bibb County Development Authority/TIMCO Aviation Services

• EDGE award: $200,000; total project cost: $1,693,056
• Total jobs: 130 new jobs in two years, plus 148 retained jobs; interstate competition: Alabama

Newton County IDA/SKC, Inc.

• EDGE award: $350,000; total project cost: $100,350,000
• Total jobs: 120 new jobs, plus 250 retained jobs: interstate competition: Texas

Gordon County Development Authority/L G Hausys America, Inc.

• EDGE award: $200,000; total project cost: $40,901,069
• Total jobs: 70 new jobs, plus 77 retained jobs; interstate competition: Virginia

Development Authority of the City of Jefferson/Systemax, Inc.

• EDGE award: $300,000; total project cost: $14,944,663
• Total jobs: 400 new jobs by the end of 2016; interstate competition: South Carolina

Tift County Development Authority/American Textile Company

• EDGE award: $400,000; total project cost: $6,620,000
• Total jobs: 120 new jobs by the end of 2015; interstate competition: South Carolina

The Equity Fund assists communities and regions in building the necessary infrastructure to support economic development. Eleven Equity awards, totaling $5,519,134 are leveraged against approximately $101 million in total projects costs, creating 312 new jobs and retaining 300 current jobs.

Joint Development Authority of Franklin, Hart and Stephen County—Enhancing regional competitiveness/road infrastructure

• Equity grant award: $500,000; total project cost: $72,585,668
• Total jobs: 25 new jobs, plus 300 retained jobs

Valley Partnership Joint Development Authority—Enhancing regional competitiveness/road insfrastructure

• Equity grant award: $500,000; total project cost: $13,800,000
• Total jobs: 175 new jobs

JDA of Franklin, Hart and Stephen Counties with co-applicants Banks County, Habersham DA and Rabun County DA—Enhancing regional competitiveness/broadband infrastructure

• BRIDGE grant award: $140,000; total project cost: $175,000

Douglas-Coffee County Industrial Development Authority—Enhancing regional competitiveness/land acquisition

• Equity grant award: $500,000; total project cost: $1,567,606

Fannin County Development Authority—Enhancing regional competitiveness/speculative building

• Equity loan award: $500,000; total project cost : $1,853,304
• Total jobs: 25 new jobs

Clinch County—Facilitating business grown and expansion/M&E

• Equity loan award: $350,000; total project cost: $3,820,721
• Total jobs: 74 new jobs

Jenkins County—Enhancing airport growth and competitiveness/Level 1 airport runway extension

• AIRGeorgia grant award: $1,174,023; total project cost: $1,971,074
• Total jobs: 13 new jobs

Middle Georgia Regional Development Authority – Enhancing regional competitiveness / water and sewer infrastructure Improvements

• Equity grant award:  $500,000;  total project cost:  $2,750,300

City of LaFayette – Enhancing airport growth & competitiveness / building construction

• Equity grant award:  $500,000;  total project cost:  $700,000

Development Authority of Banks, Habersham and Rabun Counties – Enhancing regional competitiveness / broadband feasibility study

• BRIDGE grant award:  $355,535;  total project cost:  $468,535

Wayne County—Enhancing regional competitiveness/road infrastructure

• Equity grant award: $499,576; total project cost: $1,648,815

The OneGeorgia Authority was created with one-third of the state’s tobacco settlement to assist Georgia’s most economically challenged areas. The OneGeorgia Authority is expected to receive approximately $1.6 billion over the 25-year term of the settlement. From the Authority’s inception to date, OneGeorgia has given 525 awards, totaling $306.7 million, leveraged against total project investment of $7.3 billion. This is a return on investment of 24 to 1 and impacts 139 economically depressed counties. More than 54,000 jobs have been retained and created.