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FOR IMMEDIATE RELEASE
CONTACT: Governor Roy Barnes joined the Valdosta-Lowndes County Industrial Authority and local leaders today in announcing that Regal Marine Industries will locate in Valdosta, employing 400 people by 2004. "This is a great day for the people of Valdosta, Lowndes County and the entire region," said Barnes. "This company location really puts the wind back in the sails of the community following recent closures. I'm extremely pleased that the state's assistance through the Georgia Department of Industry, Trade and Tourism and the OneGeorgia Authority helped save these jobs and create more," the Governor added. The company will locate in two facilities recently vacated by U.S. Marine/Brunswick Corporation. A $1.5 million grant from the OneGeorgia Authority, along with substantial local investment will help the Valdosta-Lowndes County Industrial Authority purchase the two facilities to be leased to Regal. The Orlando-based company brings almost nine and a half million dollars in private investment to the community. Regal will employ 400 people by the year 2004 and an estimated 734 in ten years with an average wage of $10.61/hour with good, comprehensive benefits. The announcement is a big boost to the community after the U.S. Marine/Brunswick closures, which resulted in a layoff of 387 people. "We are very fortunate to receive this $1.5 million from OneGeorgia for the citizens of the Lowndes County Area," said Carolyn Eager, Chairman of the Valdosta-Lowndes County Industrial Authority. "The Authority exists to create jobs and this will allow us to create jobs by saving jobs with the Regal Marine Industries coming into the Bayliner facility. The Governor, who chairs the OneGeorgia Authority, explained that this project will have a tremendous impact on the region. "With people coming here to work from surrounding cities and counties, Valdosta is truly a regional economic engine. The OneGeorgia Authority is putting a priority on projects with regional impact and this is certainly a good example of one that will be just that," Barnes added. "My hat's off to the Industrial Authority and local leaders who took a bad situation and turned it into a winner for the community and region, said the Governor. The Kuck family, owners of the Regal Marine Industries added in a statement, "Regal is excited about expanding our manufacturing operations in Valdosta. The immediate availability of manufacturing space, the trained workforce and the community support convinced us to expand in Valdosta rather than in Orlando."
The Georgia Department of Industry, Trade & Tourism is the state's sales and marketing arm, the lead agency for attracting new business investment, encouraging the expansion of existing industry, locating new markets for Georgia products, as well as planning and mobilizing state resources for economic development. For more information, visit www.georgia.org.
Governor Roy Barnes and the Georgia General Assembly created the OneGeorgia Authority to help bridge the economic divide in Georgia. The Authority is responsible for distributing one third of the state's tobacco settlement for economic development projects in Tier 1 and 2 and in some instances Tier 3 counties. The Authority offers loans and grants to support local and regional economic development strategies. For more information on the OneGeorgia Authority visit www.onegeorgia.org.
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