A promising pairing of prospects for the Effingham Industrial Development Authority means the board won’t be showing one of its sites to other potential suitors for three months.
IDA members have agreed to allow CEO John Henry to enter into an option agreement for the Governor Treutlen site. The parcel, in the IDA’s Effingham Industrial Park, is more than 66 acres and has been certified as a Georgia Ready for Accelerated Development site.
“It has been a tumultuous week,” Henry said.
Two companies are working together and will be co-locating, Henry said. Jointly, they represent 225 potential jobs, along with an investment of $45 million-$50 million and a net present value of $8.6 million.
“It’s a pretty good deal,” Henry said.
The companies have been looking at Atlanta for locating a headquarters facility but also may explore locating their headquarters with their manufacturing facility.
“They are working together and co-locating, so we treat them as one project,” Henry said.
The companies have asked the IDA for a 90-day exclusive option for the Governor Treutlen site, in essence taking it off the market for that time, Henry added.
“Ninety days is well worth the risk,” he said.
Said IDA Chairman Dennis Webb: “This is well worth it.”
Webb also pointed out that the exclusive option is not a contract.
“We’re not loading it down with incentives,” Henry said.
The IDA currently is working five active projects, and there has been interest in the former Doncasters building, Henry said. IDA staff also has submitted a request for information on a major manufacturing project.