(The Center Square) – Georgian officials have welcomed the companies’ decisions to relocate their headquarters or expand their operations in Georgia.
Whether the state of Georgia offered tax incentives to these companies is a closely guarded secret, and taxpayers won’t know until the state declares the project complete and unrecovered. no longer “in progress”.
Earlier this month, state officials announced that Norma Precision Ammunition, a subsidiary of Swiss ammunition manufacturer RUAG Ammotec, had established its US headquarters, manufacturing site and warehousing operations. and distribution in Chatham County.
“This remains an active project, so the state is unable to comment beyond publication at this time,” said Marie Gordon, communications director of marketing, communications and international engagement for the Georgia Department of Economic Development at The Center Square.
The state also declined to disclose whether it offered any incentives to Boehringer Ingelheim, a German pharmaceutical development and manufacturing company. The company plans to invest $57 million to increase lab space and bring additional research and development capabilities to its Athens site, including 55 new positions.
In another case, the state provided a $300,000 EDGE grant through the Griffin Spalding Development Authority for Ecopol’s $38 million project to establish its North American headquarters and manufacturing facility in the Spalding County. The Italian company Ecopol, a manufacturer of biodegradable PVA films, will create 130 new jobs thanks to the project.
Conversely, the state gave no incentive to Trenton Systems, a Georgia-based high-performance computer maker that opened its new headquarters in Duluth. The company plans to add more than 50 new positions during the year.
Gordon said economic development projects that receive state incentives are posted on the Department of Economic Development’s website within five working days of the agreements being finalized.
“A very small minority of projects receive these types of incentives at the state level, and they are generally … used to help provide the solutions needed to close a deal,” Gordon told The Center Square. “Because economic development is a competitive business, Georgia bids are shielded from competing states during the investment process and allow for corporate confidentiality during this time.”
By TA DeFeo | The Center Square Contributor