Grant & Loan Awards: Lowndes County
EDGE grant funds to assist with site preparation in support of the location of a distribution center for The Home Depot, Inc. (HD), the worldâ€™s largest home improvement specialty retailer. The Company plans to construct a 657,600 square-foot facility on 89.7 acres in the Lake Park Industrial Park in Valdosta. The Home Depot, Inc., founded in 1978, is a Fortune 500 company and has over 2,200 stores throughout the world with more than 331,000 associates. The corporate headquarters is located in Atlanta, Georgia. This project is expected to have a regional impact as Lowndes County draws its employment from seven surrounding counties. This project is in competition with Florida.
EDGE funds to assist with the acquisition of two existing buildings situated on 6.4 acres in the Azalea City Industrial Park to locate a sprinkler manufacture to Valdosta. This acquisition is in support of the location of Roberts Irrigation Products, Inc. (RIP), a recently acquired subsidiary of Deere and Company, to the Southeast which will allow additional capacity and close proximity to an existing and developing customer base. RIP, started in 1968, is a privately held company based in San Marcos, California. The Company sells 19 products in the agricultural and horticultural industries in 40 countries and is a recognized industry leader.
EDGE funds to assist in site preparation. The Authority has applied on behalf of Lowe's Home Centers, Inc., the second largest home improvement chain in the world. The Company plans to expand its current regional distribution facility in Valdosta by adding 659,965 square-feet of warehouse operating area. The Development Authority will provide approximately 82 acres for the expansion. This project will retain 637 jobs (full-time and part-time) and create at least 100 new jobs within twelve months. Private investment is projected to be $23.5 million. This project is in competition with Alabama and Mississippi.
EDGE funds to be used towards the construction cost of a new manufacturing facility owned by VLCIA. The facility will be leased to American Drill Bushing and their cooperate headquarters. American Drill Bushing will bring 30 new jobs within one year and a total of 60 employees within three years.
Equity funds to establish an Incubator Site located within the Lake Park Industrial Park. The Development Authority will market the incubator site for its intended purpose of providing smaller lots for development within the business community. It is anticipated a minimum of $3,000,000 in capital investment will be made and 40-80 jobs will result.
EDGE funds for the purchase of two closed boat manufacturing facilities. Regal Marine Industries will move into these facilities. Regal will bring 400 jobs and a projected 509 jobs at five years, ending with a projected total of 734 employees by year ten.