Grant & Loan Awards: Charlton County


Equity

Charlton County

Equity Fund: $233,560

Awarded: 01/30/2007

Applicant: Folkston, City of


Description:
Equity funds to assist with public road improvements in support of Margo State Line’s new lawn and gardening operation in the City of Folkston/Charlton County. With over 98% of the county's area in woodlands, Charlton County has earned the title of most timbered county in Georgia. As a result, the region anticipates significant indirect economic impact from new timber sales. Margo purchased the State-Line Bark and Mulch Company out of bankruptcy in 2005 and plans to invest $2 million initially to manufacture bark, premium cypress and pine mulch. In order to facilitate the increased truck traffic anticipated from the new Margo plant, S.R. 121 will be widened to three lanes, Nelson Street will be widened to four lanes, and accel/decel lanes will be added. Margo State Line, Inc., a subsidiary of Margo Caribe, Inc., is a publicly owned company based in Puerto Rico with offices in Florida. The proposed project will result in the retention of 24 and the creation of 10 new jobs.


Total Budgeted Project Cost: $2,685,130


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