Tag: Georgia Department of Economic Development

Taxpayers in Georgia Are at Risk of Being Latest Victims of Electric Vehicle Gambles

Georgia Star News Staff
Rivian showroom in Atlanta

Taxpayers could be on the hook if electric vehicle (EV) manufacturer Rivian fails to resume progress on its multi-billion dollar Georgia plant.

Rivian announced on March 7 that it would be pausing construction on its $5 billion manufacturing plant that is supposed to be built just east of Atlanta, Georgia, worrying lawmakers and taxpayers in the state that the plant may never be built. However, local authorities had given the company up to $1.5 billion in subsidies and tax incentives with the expectation that Rivian would bring in jobs and tax revenue.

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Economic Development in Georgia Breaks Records for Third Year in a Row

Kaitlin Housler

The State of Georgia broke records for the third year in a row in regards to economic development as total investments in facility expansions and new locations totaled more than $24 billion during fiscal year 2023 (FY23).

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Georgia Supreme Court Declines to Hear Appeal of Rivian Project’s Bond Agreement

The Center Square

Georgia’s Supreme Court has denied a request to hear an appeal challenging the bond agreement state officials used to lure a controversial electric vehicle manufacturing project to the state.

At issue is a deal the Georgia Department of Economic Development and the Joint Development Authority of Jasper, Morgan, Newton and Walton struck to give $1.5 billion in incentives to electric vehicle manufacturer Rivian Automotive. The company is building a $5 billion plant in Morgan and Newton counties.

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Automotive Parts Manufacturer Plans Facility in Georgia

The Center Square

An automotive parts manufacturer plans to establish a new facility in Henry County, and the state is offering “customized training services” as part of the project.

NVH Korea plans to spend $72 million on the Locust Grove facility and create more than 160 jobs. The new facility at Gardner Logistics Park on Colvin Drive will supply battery parts for electric vehicles in the United States.

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Aircraft Engine Manufacturer Plans Georgia Expansion, Taxpayer-Funded Incentives Unclear

The Center Square

A company specializing in aircraft and helicopter engines plans to expand its Columbus operations, but it’s not clear how much the state offered in taxpayer-backed incentives.

Pratt & Whitney expects to spend $206 million on the expansion, which should create 400 jobs. The company’s Columbus facility, which opened in 1984, includes the Columbus Engine Center at 8987 Macon Road and Columbus Forge at 8801 Midland Road.

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Governor Brian Kemp Announces Overseas Trip to the Countries of Georgia and France

Kaitlin Housler

Georgia Governor Brian Kemp, First Lady Marty Kemp, and other state officials will travel overseas this week to “focus on reinforcing strategic partnerships while promoting economic development opportunities with industries in Europe,” according to a press release by Kemp’s office.

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Three Investment Projects Coming to Georgia Totaling $1.59 Billion Announced Last Month

Kaitlin Housler

During the month of May, the Georgia Department of Economic Development (GDEcD) announced that three companies are investing a combined total of $1.59 billion to establish new business operations in the Peach State.

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Incentives Unclear for Premium Synthetic Graphite Anode Materials Supplier for Decatur County Battery Plant

The Center Square

A supplier of synthetic graphite anode materials for lithium-ion batteries plans to construct a manufacturing facility in Decatur County.

According to state officials, Anovion Technologies will create more than 400 jobs as part of the more than $800 million Bainbridge project.

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Georgia Could Develop Statewide Electric Vehicle Manufacturing Program

The Center Square

During the latest state legislative session, the Georgia House passed a measure that proponents say will “advance” the state’s electric vehicle industry.

The move comes after state officials have given millions of dollars in taxpayer-funded incentives to various EV projects, including $1.5 billion for a Rivian Automotive electric vehicle assembly plant in Morgan and Newton counties.

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Incentives Unknown for Auto Parts Manufacturer’s Liberty County Project

The Center Square

An automobile parts developer and manufacturer plans to spend more than $72 million on a new manufacturing facility in Liberty County.

However, it is unclear what incentives economic development officials provided to Seohan Auto Georgia and the cost to Georgia taxpayers.

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Advanced Materials Manufacturer Plans Cartersville, Georgia Facility

The Center Square

A manufacturer of lightweight advanced materials for sustainable technology plans to open a manufacturing facility in Cartersville.

Hanwha Advanced Materials Georgia, a subsidiary of South Korea’s Hanwha Group, plans to spend roughly $147 million on the facility, which will supply a Qcells facility in the Bartow County community. The company plans to create 160 jobs.

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Georgia Leaders Plan to Review State’s Tax Credits

The Center Square

Georgia leaders plan to review the state’s various tax credits, saying they want to ensure any credits provide a “significant return on investment” for Georgia’s taxpayers.

The review, announced Thursday, will include the oft-lauded film tax credit. House and Senate members will work with various industry stakeholders and state offices, including the Georgia Department of Economic Development, the Governor’s Office of Planning & Budget and the Georgia Department of Revenue.

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Incentives Unknown for Window Replacement Company Building Georgia Plant

The Center Square

A full-service window replacement company plans to build its first manufacturing facility in Georgia. However, it’s unclear whether Georgia taxpayers will be on the hook for any part of it.

Renewal by Andersen, a division of Bayport, Minnesota-based Andersen Corporation, said it would spend more than $420 million on the manufacturing facility. Economic development officials said the company would create 900 new jobs as part of the project at The Cubes at Locust Grove in Henry County.

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Apparel Company Plans $87 Million Facility in Georgia, but Officials Silent on Incentives

The Center Square

by T.A. DeFeo   A global apparel company plans to spend $87 million on a Bryan County manufacturing and distribution facility. Jersey City, New Jersey-based Komar Brands, a company established in 1908 and whose portfolio includes “owned, licensed, and private-label brands,” plans to create 294 new jobs as a part…

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Ammo Manufacturer Plans New Facility in Georgia, but Officials Silent on Incentives

The Center Square

An ammunition manufacturer plans to spend $60 million to build a new manufacturing and distribution facility in Bryan County, Ga.

Georgia officials would not say whether the state offered any tax incentives to encourage Norma Precision to build its new facility in Georgia. A spokeswoman for the Georgia Department of Economic Development told The Center Square that the project is “still active,” a designation that allows state officials to decline to release details about tax incentives the state offered.

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Despite Legal Battle, $5 Billion Rivian Electric Vehicle Plant Still in Progress for Georgia

The Center Square

 Work on electric vehicle manufacturer Rivian Automotive’s $5 billion plant will progress as planned despite an ongoing legal fight, officials confirmed to The Center Square.

Site grading began in the early fall, and the judge’s ruling does not affect progress on development, Marie Gordon, a spokeswoman for the Georgia Department of Economic Development, told The Center Square. However, Gordon deferred to a representative of a public affairs agency to answer more substantive questions about the project.

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Georgia Judge Strikes Down Part of Rivian Electric Truck Plant Deal

The Center Square

A Morgan County judge has struck down a key component of a deal to entice an electric vehicle manufacturer to build a plant in Georgia.

Earlier this year, the Georgia Department of Economic Development and the Joint Development Authority of Jasper, Morgan, Newton and Walton counties announced a deal to give incentives totaling $1.5 billion to electric vehicle manufacturer Rivian Automotive. The company plans to build a $5 billion plant at Stanton Springs North along Interstate 20 in Morgan and Newton counties.

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Georgia Officials Won’t Reveal Business Development Incentives Said to Be ‘In Progress’

The Center Square

Georgia officials have lauded the decisions of companies to either relocate their headquarters or expand their operations in Georgia.

Whether the state of Georgia offered tax incentives to those companies is a closely-guarded secret, and taxpayers will not know until the state says the project is complete and no longer “in progress.”

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Remington Firearms Reveal Huge Plans for LaGrange, Georgia

Chris Butler

Remington Firearms (RemArms) announced Monday that they will locate their global headquarters in LaGrange, Georgia.

RemArms officials, in a press release, also said they will open an advanced manufacturing operation and a research and development center in LaGrange. The press release did not elaborate.

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Remington Firearms Reveal Huge Plans for LaGrange, Georgia

Chris Butler

Remington Firearms (RemArms) announced Monday that they will locate their global headquarters in LaGrange, Georgia.

RemArms officials, in a press release, also said they will open an advanced manufacturing operation and a research and development center in LaGrange. The press release did not elaborate.

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New Georgia Report Shows Investments, Job Creation Increasing Around the State

Chris Butler

Georgia officials have announced that economic development projects throughout the state during fiscal year 2021 have delivered record-setting jobs and investments. This, according to a press release that Georgia Gov. Brian Kemp and officials with the Georgia Department of Economic Development (GDEcD) published this week.

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