A Fulton County agency Tuesday approved its part in a statewide effort to recruit a global battery manufacturer to open an innovation center in Atlanta.
The Development Authority of Fulton County board unanimously approved a nearly $870,000 property tax break for the company, but did not disclose the name of the prospect. The location of the potential “state-of-the-art global innovation center” was also not disclosed, but the center would employ 110 workers with an average salary of $120,000 and would comprise a nearly $56 million investment, according to a DAFC fact sheet.
The agency described the deal as “Project Phoenix.” Citing unnamed individuals with knowledge of the deal, the Atlanta Business Chronicle reported the company is Chicago-based Duracell Inc. and the project location would be within Georgia Tech’s life sciences district called Science Square.
Neither Duracell nor Georgia Tech immediately responded to a request for comment from The Atlanta Journal-Constitution. Trammell Crow Co., Science Square’s developer, declined to comment.
Credit: Courtesy Garey Gomez / Science Square
Credit: Courtesy Garey Gomez / Science Square
The recruitment effort has been spearheaded by the Georgia Department of Economic Development and Select Fulton, the county’s economic development arm. DAFC, also known as Develop Fulton, has the power to offer property tax breaks that accrue over a 10-year period if certain milestones are met. DAFC previously approved up to $29.4 million in property tax breaks for Science Square’s development.
Three other states are vying for the battery manufacturer’s innovation center, according to Christopher Grissom, an attorney with Bradley in Birmingham, Alabama, who represents Project Phoenix.
“We’re still in negotiations with the site. We have not committed to the site,” he told the DAFC board. “So this (incentive approval) would be very helpful to us, and we’re very appreciative of what the county and state have done to incentivize us to move here.”
A Georgia Department of Economic Development spokesperson declined to comment on the project.
The tax break will apply only to an estimated $29 million in equipment housed within the innovation center. Despite the incentive, the project is estimated to generate $1.7 million in new tax collections during the abatement period.
