Grant & Loan Awards: Mitchell County


Equity

Mitchell County

Equity Fund: $500,000

Awarded: 01/30/2007

Applicant: Mitchell County


Description:
Equity funds to support needed improvements to existing public roads in order to serve the new ethanol production plant under construction by First United Ethanol LLC (FUEL). The 90-acre site is served by narrow, unpaved public roads located near Highway 19. Improvements are required to assure safety of the estimated 150-300 trucks at the site on a daily basis. The proposed improvements include paving and widening the exit roads, creating an acel/decel lane and a median cut. FUEL, with farmers/investors representing five counties, executed a Letter of Intent with Fagen, Inc. to design and build the ethanol plant. This project is expected to create 50 direct jobs and an estimated 350 indirect jobs. An economic impact study prepared by UGA indicated that economic output at the ethanol plant in Mitchell County would total $266.6 million annually to the Georgia economy.


Total Budgeted Project Cost: $156,350,000


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