The BOC approved the incentive agreement during their regular meeting on April 6.
Project Renew is a partnership with the Development Authority and Shaw Industries Group, Inc.
The Shaw facility located at 1255 South Industrial Blvd. closed last spring due to the downturn in the economy, eliminating nearly 400 jobs in the process.
However the company is retooling the Calhoun facility and investing $17 million in the project. An additional $22 million could be invested and another 125 new jobs created if the first phase of the Renew program is successful.
“The incentive agreement implements what was presented to us (earlier this year), and Shaw is spending the money as week speak,” said Bill Thompson, attorney for the Development Authority.
The funds Shaw is investing in the project would go toward purchasing new equipment to make new products as well as employee salaries.
“I am very excited that they are remodeling that plant and I am even more excited about the 200-300 new jobs that could be created,” said Jimmy Phillips president of the Gordon County Chamber of Commerce. “It is an exciting thing, getting people back to work.”
The incentive the BOC approved allows for the property tax abatements, which would put a hold on any real or personal property taxes. Meaning, that for the next five years the company would not owe taxes on the land on which the facility sits, or any of the contents inside the facility.
However after five years, taxes would be paid back to the city and county.
There is also a claw back agreement, meaning if the company fails to live up to their end of the agreement, all of the taxes would be owed.
Commission chairman Alvin Long said the agreement and subsequent job creation is a sign that the economy is improving.
“A lot of good things are happening in Gordon County,” Long said.
Long also said during the meeting that industrial buildings that have sat empty for the past two years are now under lease agreements and more and more businesses are looking to move into Gordon County.
Also during the Tuesday, April 6, Gordon County Board of Commissioners Meeting, board members:
- Approved a wine and malt beverage application request by Redbud Food & Tobacco.
- Approved a second amendment to the Intergovernmental Agreement with the Secretary of State Office for disposal of voting system equipment.
- Read a proclamation for Parkinson’s Disease Awareness Month.