Georgia leaders are attempting to recruit a battery manufacturer to open an innovation center in Atlanta, a deal that could involve a Fulton County agency granting the company hundreds of thousands of dollars in tax incentives.
The Georgia Department of Economic Development is trying to woo a “state-of-the-art global innovation center” with 110 workers by an undisclosed battery company, according to a Development Authority of Fulton County meeting agenda. The agency, rebranded as Develop Fulton and commonly known as DAFC, will consider whether to approve a nearly $870,000 tax break to the battery company during its scheduled Tuesday meeting.
Using the code name “Project Phoenix,” the innovation center recruitment effort is shrouded in mystery with few public details, but it would add another battery-related project to Georgia’s fast-growing e-mobility and electric vehicle sector.
“Considering the significant construction build-out costs and the need to house advanced technical equipment, local property tax incentives will play a critical role in the location decision and timing of Project Phoenix,” said a fact sheet within DAFC’s agenda.
The specific location of the project wasn’t disclosed, but the battery company has identified an existing building in Atlanta’s urban core. The agenda mentions the Westside Tax Allocation District as a relevant jurisdiction, indicating the building is located within the district, which includes the western part of downtown, Centennial Yards, English Avenue, Vine City, Georgia Tech and parts of Midtown and West Midtown.
The battery company is described as a leading manufacturer of batteries and is considering sites “across Georgia and neighboring states, all of which have incentives that are more aggressive than what is offered by Fulton County,” according to the fact sheet. A Georgia Department of Economic Development spokesperson declined to comment on the project.
The prospect’s expected investment is estimated at more than $55 million and would close in the first quarter of 2025, according to the fact sheet. The tax break would save the company nearly $870,000 over a 10-year period. It would 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. The average salary of the 110 new jobs is also expected to be $120,000.
The DAFC meeting will be streamed at 2 p.m. Tuesday, and the public can access the Zoom meeting.
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