The Dade County Industrial Development Authority met last week and discussed upcoming projects as well as the FY2015 Budget.
Chairman Nathan Wooten discussed two possible business expansions that the IDA has been working on in recent months.
The first project involves Accellent, which is in the process of changing their name to Lake Regional Medical.
The IDA has been working with Accellent on an incentive plan that is based on the company’s number of employees here and the investment amount of equipment and construction totaling some $15 million. Currently Accellent has 350 local employees but is looking to add 75 with the expansion.
Incentives for the expansion include free land next to the Hellestedt building in the industrial park, tax abatement over 10 years, job tax credits through the state of Georgia and free training through the state of Georgia as well.
Also being considered is the removal of the energy excise tax that would have to be approved by the Dade County Commission.
The package could save Accellent some $472,000 but would mean added jobs and revenue for Dade County.
The IDA voted to approve the local incentives by a unanimous vote.
The other projects discussed at the meeting were another possible expansion of an existing business.
RCS (Roof Curb Systems) tax incentives were discussed by the IDA and would be offered over a five or ten year plan based on investment in construction, equipment and new employees.
The IDA approved a plan for RCS as well at the meeting.
While approved by the IDA the incentive packages will not be final until a contract between the companies and the IDA are signed. The contracts will have clauses that state the abatements will not be given unless the investments are made.
A memorandum of understanding was approved and given to Robin Rogers giving him the authority to draft any documents necessary for the agreements.
The IDA also gave Peter Cervelli authority to negotiate any points and Nathan Wooten the authority to sign the agreements on behalf of the IDA.
The following press release was issued by the IDA:
“The Dade Industrial Development Authority, working with other government entities, the State of Georgia and local utilities, have taken aggressive and proactive moves to insure that we support and encourage our largest employer, Accellent, to maintain their long-term participation in our community and support the success of the company of their long-range vision of success here in Dade County and the City of Trenton.
Accellent has been a long-standing member of our community, and with the pressures of other locales offering cheaper labor, tax incentives, and the like, we wanted to insure that Trenton will continue to be their home well into the future.
The good news is that we were able to accomplish this without taking any tax dollars from any taxing authority that is currently being collected from the company.
Accellent’s growth plan in our community is aggressive and requires that the support of all involved be committed for years to come.
Other businesses in our community will certainly be the beneficiary of the financial investment and growth in jobs by this great company.
We appreciate the hard work of everyone involved, the other governmental agencies, Senator Jeff Mullis (who serves as the Executive Director of the Northwest Georgia Joint Development Authority), IDA Executive Director Peter Cervelli, Georgia Power, Accellent’s management team, and many more to insure the long term staying power of this great company in our community.”