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Effingham County in line for 600 jobs SPRINGFIELD - Effingham County is just one signature away from getting 600 new jobs and a $100 million investment. The Effingham County Industrial Development Authority board unanimously approved an offer Thursday that is expected to result in a European manufacturing company basing its U.S. headquarters on about 50 acres of the IDA's industrial park on Ebenezer Road. After a lengthy seven months of negotiations, in which 10 states were initially considered, the company is expected to accept the offer Monday. "This is a tremendously great deal, and we are getting a great project," said John Henry, IDA chief executive officer. IDA officials refused to reveal the identity of the company, which manufactures electronic components, until the agreement is finalized. The company's economic investment will occur in phases, according to the agreement. Initially, 283 jobs will be created by 2009. That number is expected to grow to 400 by 2012 and to 600 by 2015. The company will make a total investment of $60.96 million to construct and equip the facility, which is expected to be complete by Dec. 31, 2009. Henry said the company would have a major impact on business at the Georgia ports. The proximity to the ports, he said, was one of the major reasons the company chose to locate in Effingham County. He said more specific information about the impact on the ports could come as soon as the agreement with the company is signed. Henry also said Effingham County will experience a 215 percent rate of return on the tax dollar. Costs to taxpayers, such as education, public works and health services, are expected to reach $22.35 million in 20 years. Benefits, such as sales-tax revenue, property taxes and miscellaneous fees, are supposed to amount to $48.20 million over that same time period. That does not take into account the impact from bringing in the new residents, who will be spending money on homes and local businesses, Henry said. "The overall impact of this will be hundreds of millions," he said. "The multiplier effects from the public side we can't compute yet." |
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