Grant & Loan Awards: Chatham County


Chatham County

EDGE Fund: $5,000,000

Awarded: 06/30/2010

Applicant: Savannah Economic Development Authority

EDGE loan funds of $5,000,000 are awarded to assist with site preparation and infrastructure in support of the location of Mitsubishi Power Systems Americas, Inc. (MPS) to the mega site near Pooler in Chatham County. Mitsubishi, with a history dating back to 1884, is publicly traded on the Tokyo Stock Exchange and is a diversified Fortune “Global 150” company with more than $30 billion in annual revenues and 40,000 employees worldwide. The Company, with construction well underway on the new, state-of-the-art facility along the I-95 corridor, expects to make a private investment of approximately $325 million. In particular, this plant will produce gas turbine combustor components to support operating units in the Western Hemisphere and new turbines worldwide. The site location provides convenient access by road, rail and sea. It is anticipated that this project will provide strong regional economic impact, creating jobs not only in Chatham County but also in other neighboring counties.

Total Budgeted Project Cost: $349,035,000

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