Caterpillar Inc. is set to open a manufacturing plant in northeast Georgia in 2013, the latest in a string of economic development victories for the State.
The $200 million factory will employ about 1,400 people and produce construction equipment currently manufactured in Sagami, Japan. The project first reported in November 2011, will begin during the first quarter of this year and will take up to five years to reach full production.
Caterpillar’s decision to move the plant to the site near Athens, Ga., came after the heavy equipment producer reviewed proposals from “more than 100 communities in three dozen states plus Canada and Mexico,” a spokesman said Friday, reported the Wall Street Journal.
In addition to Athens being close to ports in Savannah, Ga., and Charleston S.C., the location was appealing because it is cited as a positive and proactive business climate.
The company will receive incentives totaling more than $75 million from Georgia and two of its counties, Athens-Clarke and Oconee, state and local official said. The plant will be built on a 265-acre plot straddling the two counties. The counties have agreed to provide the land as well as property tax relief and new roads, sewers and water lines. Among other things, the state will also be providing tax credits and grants to help train workers.
Job Market Monitor 
Discussion
No comments yet.