Dublin, GA - Governor Sonny Perdue and members of the OneGeorgia Authority Board met today (12-15) at the Heart of Georgia Technical College in Dublin to approve grants and loans from the OneGeorgia Authority’s portfolio of financing programs.
These awards will assist with a variety of economic development projects in rural Georgia aimed at creating jobs, stimulating new private investment, supporting the retention of existing jobs and enhancing regional competitiveness through capacity-building projects. These projects, along with their respective local leadership representatives, were recognized at the OneGeorgia board meeting.
Company officials and local leaders associated with the most recent EDGE awards were recognized at today’s meeting. The eight EDGE awards, totaling $16,773,513, are leveraged against just over $1.2 billion in total project costs and are projected to create over 2,992 jobs as well as the retention of an additional 222 jobs.
Okefenokee Area Development Authority / Georgia Biomass, LLC
EDGE grant funds of $342,743 will be used to assist with rail improvements to support the location of Georgia Biomass, LLC (GBL), a new fuel pellet manufacturing facility. The Company will construct the new plant on a 315-acre site in the Waycross-Ware County Industrial Park where it will produce 750,000 tons of fuel pellets annually. The pellets will be shipped by rail from the Waycross facility to the Savannah port and then on to Europe for use by RWE AG, its German parent company. RWE AG is the leading power producer in Germany as well as several other markets in Europe and growing in others. Indirect economic impact includes procurement contracts with growers of southern pine across a 25-county area region of South Georgia, and continued job growth for both logging and trucking businesses. This project appears to be an opportunity to capitalize on two of Georgia’s major assets: biomass availability and the Savannah port. This is also an opportunity for Georgia to take a leading position in the growing renewable energy market that is set to take a major presence in the world economy.
§ EDGE Award: $342,743 (rail improvements)/Total Project Cost: $152,236,068
§ 75 new jobs in two years/Interstate competition: North Carolina and South Carolina
Macon-Bibb County Industrial Authority / Bombardier Services Corporation
EDGE grant funds of $800,000 will be used to assist with building improvements and equipment purchases to assist with the location of a commercial aircraft service facility in Macon for Bombardier Services Corporation (BSC). The Macon facility complements two other Bombardier service centers in West Virginia and Arizona. BSC, a business unit of the Canadian manufacturer, Bombardier, Inc. (BI), provides a wide variety of aircraft maintenance services. BSC will provide heavy maintenance services exclusively for Georgia-based Atlantic Southeast Airlines (ASA). The aerospace unit of BI, under which BSC falls, is the third largest civil aircraft manufacturer in the world behind Boeing and Airbus. The Macon facility is a reflection of the company’s commitment to high quality maintenance support for its customers.
§ EDGE Award: $800,000 (Bldg rehab/ M&E)/Total Project Cost: $2,540,000
§ 160 new jobs in three years/Interstate competition: Alabama and Louisiana
Liberty County Industrial Authority / Firth Rixson Forgings, LLC
EDGE grant funds of $1 million will be used to assist with site preparation in support of the location of Firth Rixson Forgings, LLC (FRF) to a 26.4-acre site within the Tradeport East Business Center located near the city of Hinesville in Liberty County. FRF is a wholly owned US subsidiary of Firth Rixson, Ltd. (FRL) an England-based industry leader in the production of seamless rolled rings for the aerospace market and the largest producer of metal rings in the world. The Hinesville location will consist of three buildings and will be Firth Rixson’s newest and largest facility at over 200,000 SF. With a history dating back to the 1800’s, FRL operates 11 facilities worldwide with four in the US as well as in the UK, China and Hungary. Construction is currently underway and is scheduled to be completed in late 2010.
§ EDGE Award: $1,000,000 (site preparation)/Total Project Cost: $93,103,755
§ 204 new jobs in four years/Interstate competition: South Carolina
Savannah Economic Development Authority / Gulfstream Aerospace Corp
EDGE grant funds of $7,500,000 will be used to assist with the expansion of Gulfstream Aerospace Corporation’s (GAC) Savannah facilities to ensure that the company is well-positioned to meet future demand for business jet aircraft and support services. Gulfstream Aerospace Corporation is a wholly owned subsidiary of General Dynamics, the fifth largest defense contractor in the world. GAC designs, develops, manufactures, markets, services and supports the most technologically advanced business jet aircraft in the world. With manufacturing and servicing facilities throughout the world, its primary manufacturing, research and development, servicing and headquarters location is in Savannah with over 5,000 employees. The expansion will provide good, high-tech jobs including production specialists, engineers and support technicians with a significant ripple effect. Gulfstream is the aircraft of choice of 34 governments and 22 countries (including the United States) around the world to transport their heads-of-state. GAC employs more than 9,700 people worldwide.
§ EDGE Award: $7,500,000 (Bldg Acquisition)/Total Project Cost: $535,507,420
§ 1,000 new jobs in seven years/Interstate competition: Alabama and South Carolina
City of Dublin and County of Laurens Development Authority / Mage Solar USA, LLC
EDGE grant funds of $1,250,000 will be used to assist with the location of Mage Solar USA, LLC. Mage Solar, part of the globally operating MAGE GROUP, plans to establish the company’s North American headquarters and production facility for photovoltaic modules in Dublin. As of 2010, solar photovoltaics generate electricity in more than 100 countries and, while yet comprising a tiny fraction of the total global power-generating capacity from all sources, is the fastest growing power-generation technology in the world. Mage Solar also plans to build an academy for solar education to promote solid solar knowledge and training in the industry. Due to the great potential of the American continent and increasing demand, the production of MAGE POWERTEC PLUS Modules is scheduled for first quarter 2011. The modules, produced from high-quality aluminum within the MAGE GROUP, attach to asphalt shingles, roof tiles, slate, shake, corrugated, standing seam or trapezoidal metal roofs. Mage Solar will occupy an existing 190,600 SF facility that is situated on approximately 19 acres in the Dublin Industrial District that was formerly occupied by Rockwell Automation.
§ EDGE Award: $1,250,000 (M&E)/Total Project Cost: $31,160,091
§ 350 new jobs in five years/Interstate competition: Arkansas, Mississippi
Thomaston-Upson County Industrial Development Authority / AHS Animal Health and Sciences, Inc.
EDGE grant funds of $375,000 will be used to support the location of AHS Animal Health and Sciences, Inc. AHS, a biochemical manufacturer, will occupy an existing 275,000 SF facility on 90 acres of land within the Thomaston-Upson County Industrial Park. The parent company of AHS, Apollo Technologies, Inc., has been in business since 1970 and is the largest contract packager of products that protect small and large animals such as dogs, cats, equine, farm and dairy animals from a wide range of pests. Pet care spending has nearly quadrupled from $17 billion in 1994 to $65 billion for 2009 and is expected to continue to grow. The Thomaston facility plans to manufacture a new line of highest quality, non-toxic, biodegradable chemicals to be used in the animal health industry. Completion of the first production line is scheduled for January 2011.
§ EDGE Award: $375,000 (M&E)/Total Project Cost: $8,516,643
§ 250 new jobs in five years/Interstate competition: South Carolina
Douglas-Coffee County Industrial Authority / Pilgrim’s Pride Corporation
EDGE grant funds of $4,000,000 will be used to assist with the re-opening of a chicken processing facility in support of Pilgrim’s Pride Corporation (PPC). In addition, Pilgrim’s Pride will re-open the Douglas hatchery; and the Ambrose feed mill. The economic imprint of Pilgrim’s Pride is enormous, not only to the state’s poultry industry, but to the hundreds of growers and suppliers across an 11-county region in South Georgia. PPC emerged from bankruptcy at the end of 2009 with significant financial assistance from JBS USA Holding, Inc., based in Sao Paulo, Brazil. JBS is the world’s largest beef processor and now owns 67 percent of the common stock of PPC. Pilgrim’s Pride is now one of the largest chicken processing companies in the U.S. Products include fresh, frozen, whole, cut-up, pre-marinated and marinated chicken breasts, tenderloins and strips, delicatessen products, salads, nuggets, patties and bone-in chicken parts. PPC also exports products to over 90 countries including China, Japan, Russia and Kazakhstan. The Douglas facility will process 1.3 million chickens weekly.
§ EDGE Award: $4,000,000 (M&E)/Total Project Cost: $45,398,341
§ 800 new jobs in two years/Interstate competition: Arkansas, Louisiana
Macon-Bibb County Industrial Authority/ First Quality Baby Products, LLC
EDGE grant funds of $1,505,770 will be used to assist with site preparation to support the relocation and expansion of First Quality Baby Products, LLC (FQ). Through First Quality Retail Services, LLC, an affiliated company, First Quality Baby acquired a facility in 2008 for the manufacture of diapers and other hygiene items. With the current site landlocked and the company’s need to expand, FQ will relocate to a 70.5-acre site in Bibb County. The new state-of-the-art facility, 800,000 SF, expandable to 1,000,000 SF, will produce private label baby diapers and training pants. The Company offers its products for both retail and institutional sale and is distributed in the US and worldwide. Some of FQ’s customers include Wal-Mart, Target, Kroger, CVS and Rite Aid. Construction on the manufacturing facility is underway, with production scheduled to start in the first quarter of 2011.
§ EDGE Award: $1,505,770 (site preparation)/Total Project Cost: $203,284,425
§ Retention of 222 jobs, creation of 153 jobs = 375 jobs /Interstate competition: Pennsylvania
The Equity Fund is designed to assist communities and regions in building the necessary infrastructure to support economic development. The program’s flexibility also provides financial assistance to enhance publicly-owned tourism initiatives, workforce development opportunities and downtown revitalization projects. In addition, loan funds are available through the Equity Revolving Loan Fund to assist small business owners with business growth and expansion opportunities. Today, seven Equity awards, totaling $3,389,378, are leveraged against approximately $116 million in total project costs.
Washington County – Enhancing Airport Growth and Competitiveness / Terminal Building
Equity grant funds will be used to assist with the construction of a 4,200 square foot terminal building at the Kaolin Field Airport in Sandersville. The new terminal will replace a 1,000 square foot concrete block building constructed in 1967. Improvements will also include a redesigned entrance road, signage, landscaping and a new parallel taxi way. Numerous aviation measures have been and are being added to the 5,000 foot lighted runway at Kaolin Field Airport, including pay-at-the-pump Avgas, Jet-A fuel capability, and a parallel taxiway which is currently under development.
§ Equity Grant Award: $500,000 / Total Project Cost: $2,358,930
Cook County – Enhancing Airport Growth and Competitiveness / Terminal Building
Equity grant funds of $488,700 will be used to assist with the construction of a new 4,248 SF terminal facility at the Cook County Airport located in Adel. The Cook County Level II Airport is 20 miles north of Valdosta on Interstate 75 within close proximity to Florida and Interstate 10 as well as to Georgia and Florida railways, making it an ideal gateway for regional economic development in South Georgia. The current 1,100 SF maintenance hangar office functions as the airport terminal, but is inadequate and lacks the character and capacity to be a true “gateway” facility for the community and region. After a recent runway extension to 5,001 feet, the terminal is the most pressing improvement needed in order to attract and accommodate major business and industry. Hangar Area and Fuel Farm Developments will be constructed simultaneously using local, FAA and GDOT funds.
§ Equity Grant Award: $488,700/Total Project Cost: $2,692,288
City of Millen – Facilitating Business Growth and Development / Water, Gas, and Road Infrastructure
Equity grant funds will be used to assist with water, gas and road infrastructure improvements to support the location of a 1,150-bed men’s detention center which the Corrections Corporation of American (CCA) plans to construct and operate outside of the City of Millen in unincorporated Jenkins County pursuant to a contractual award by the Georgia Department of Corrections. The existing infrastructure in Jenkins County is inadequate to meet the needs of a new correctional facility. Equity funds will be used to assist with the construction of a 500,000 gallon elevated water tank to generate the required pressure for meeting peak demands, the extension of the City’s gas line 4,000 feet and the construction of an access road to the site.
§ Equity Grant Award: $500,000/Total Project Cost: $61,297,858
§ Create 205 jobs
Development Authority of Bainbridge and Decatur County – Facilitating Business Growth and Development / Water and Road Infrastructure
Equity grant funds of $400,678 will be used to assist with water system and road infrastructure improvements in support of Meredian, LLC, a biopolymer company located in the Decatur County Industrial Park, as well as other potential industries looking to locate in the 185,000 SF (former American Fibers and Yarns) manufacturing facility which was acquired by the Development Authority in 2009. Meredian’s parent company is Danimer Scientific, founded by Dr. Daniel Carraway, PhD in biotechnology and the holder of more than 20 patents. Construction of an access road to the manufacturing facility and connection to the public water system are essential elements for effectively using the facility for multiple industries. Meredian, LLC is a Decatur County based company which produces resins used in the manufacture of a wide variety of biodegradable products such as trash bags, hay bale wraps, and landscaping fabrics.
§ Equity Grant Award: $400,678
§ Total Project Cost: $36,130,395
§ Create 34 jobs
Thomasville Payroll Development Authority – Enhancing Regional Competitiveness / Road Infrastructure
Equity grant funds of $500,000 will be used to assist with road infrastructure improvements to serve a new 300-acre industrial park in Thomas County. The establishment of the Park will enable the PDA to promote the availability of large industrial sites with access to Hwy 319. Other industrial parks in the County have no available sites of appreciable size or development potential. The new industrial park is strategically located with respect to Florida markets and the interstate highway transportation system. The selected site is located on a 4-lane highway less than 50 miles from I-75 and 30 miles from I-10. Due to initial costs of extending utilities to the Park, a two-phase construction program is recommended, with utilities extended to serve half of the total acreage initially. Interior Park road and drainage construction will also be undertaken in two phases with Phase I to include paving of 6,600 ft of roadway and related drainage improvements within the Park. Requested OneGeorgia funds would be used for a portion of those improvements.
§ Equity Grant Award: $500,000/Total Project Cost: $6,411,128
Putnam Development Authority – Enhancing Regional Competitiveness / Road Infrastructure
Equity grant funds of $500,000 will be used to assist with the construction of an access road and entryway into the newly acquired 130-acre tract of land, Rock Eagle Science & Technology Park. The project site is located along US Hwy 441, just north of the City of Eatonton and 14 miles from I-20 in Madison. The site plan for the Park consists of 21 parcels ranging from 3.4 to 10.6 acres which will be marketed to small and medium-sized technology-sector companies. The Putnam County high school campus is located on 129 acres on the northern end of the property and the Science Technology Park will be located on 130 acres on the south end of the property. In order to market to potential tenants, it is necessary to construct an entryway into the Science and Technology Park.
§ Equity Grant Award: $500,000/Total Project Cost: $2,859,573
Jenkins County Development Authority – Enhancing Regional Tourism / Building Infrastructure
Equity grant funds of $500,000 will be used to assist with the renovation of a Civilian Conservation Corps (CCC) building to serve as the Camp Lawton Museum and Interpretive Center at Magnolia Springs State Park in Jenkins County. Magnolia Springs State Park is home to the recently discovered 42-acre compound framed by a 15-foot high stockade wall of locally harvested pine logs and described in 1864 as “the largest prison in the world.” Georgia Southern University, in conjunction with the Georgia Department of Natural Resources and the U.S. Fish and Wildlife Service, began to investigate the archeology at Camp Lawton in 2009. Recent archeological discoveries of a stockade wall and numerous personal articles from the soldiers at Camp Lawton have brought national attention to the site. The community hopes to attract the countless number of visitors who frequent Civil War history sites.
§ Equity Grant Award: $500,000/Total Project Cost: $545,000
City of Hinesville – Enhancing Regional Tourism / Building Infrastructure
Equity grant funds of $500,000 will be used to assist with the construction of a 1,500 seat amphitheatre to be located within Bryant Commons, a large scale outdoor, cultural entertainment venue currently in development by the City of Hinesville and Liberty County. The property is a 150-acre tract of land donated by Glenn and Trudie P. Bryant. The philanthropic couple’s former home now serves as the Independent Telecommunications Pioneer Association Museum and is the association’s national headquarters. The proposed amphitheatre will be set on the bank of the detention pond and be used to host concerts, plays, environmental education classes and other events. Other proposed amenities within Bryant Commons include walking trails, recreational ponds, picnic areas and a community center pavilion. Hinesville is the home of Fort Stewart with 17,838 military personnel and 3,748 civilian employees. Currently, no venues of this caliber or size exist to accommodate large events. The facility is expected to enhance tourism and quality of life measures across a large multi- county region.
§ Equity Grant Award: $500,000/Total Project Cost: $6,252,916
The AIRGeorgia Fund is intended to accelerate the completion of critical airport infrastructure improvements, including expanding runways to 5,000 linear feet in order to support increased air traffic in Georgia’s Level I and Level II airports in rural areas. With today’s announcement, 17 communities have received grant awards to support runway extensions and needed infrastructure. Today’s four AIRGeorgia awards of $6,689,562 are leveraged against more than $11.7 million in total project costs.
Elbert County – Level I Airport – Runway Extension
AIRGeorgia grant funds will be used to assist with improvements to the Elbert County Patz Field Airport. The proposed improvements will extend the runway from 4,002 feet to 5,000 feet. Currently, the Airport is home to 22 based aircraft producing an estimated 6,500 annual aircraft operations. Tourism and manufacturing is expected to benefit from the increased runway length. Tourists to the Richard B. Russell State Park, Arrowhead Point Golf Course and Bobby Brown State Park which are located just a few miles from the airport would be more compelled to use the airport. In addition, the Elberton Industrial Park located adjacent to Georgia Highway 72 is over 100 acres with all utilities and infrastructure in place. The County plans on the proposed improvements attracting a greater number of larger based aircraft to the airport, resulting in increased revenue and solidifying tourism and business growth in Elbert County and surrounding counties including Madison, Oglethorpe and Lincoln.
§ AIRGeorgia Grant Award: $1,323,212 /Total Project Cost: $1,954,115
Berrien County – Level I Airport – Runway Extension
AIRGeorgia grant funds will be used to assist with improvements to the Berrien County Airport including the extension of its runway from 4,006 feet to 5,000 feet and the construction of turnarounds. The County has lost 1,000 jobs in the past two years to industry closures, layoffs and cutbacks. Given the current critical state of the local economy, it is imperative that the county maximize the use of all available economic development resources, including its airport. The longer runway is expected to help market the new 180-acre industrial park on Highway 82 in the northern part of the County. The Berrien County Airport is located just east of Nashville and has approximately 5,000 takeoffs and landings per year. It has six hangars with 10 airplanes based at the airport even though 16 aircraft are owned by County residents. An agricultural spraying service operates two aircraft from the airport but there is no Fixed Base Operator, thus, aviation fuel is not available. Long range airport improvement plans address the need for fuel sales and a terminal building. Due to current airport limitations, both existing industry and industrial prospects must use airports in Tifton, Valdosta and Jacksonville, Florida.
§ AIRGeorgia Grant Award: $1,266,350 / Total Project Cost: $2,425,000
Turner County – Level I Airport – Runway Extension
AIRGeorgia grant funds will be used to assist with improvements to the Turner County Airport including the extension of its runway from 3,197 feet to 5,005 feet, runway width from 50 to 75 feet, electrical upgrades and taxiway improvements. With five based aircraft, there is currently no Fixed Based Operator (FBO) at the airport; thus, aviation fuel is not available. A local aviation related business has expressed interest in relocating to the airport to provide FBO services. Turner County is served by Interstate 75 which provides excellent highway access to Florida and Atlanta markets and the County is also served by Norfolk Southern and CSX Railways. Airport improvements are needed to support local industries, current or potential Airport users, as well as provide access to the area for economic development opportunities. Airport improvements are expected to assist with marketing efforts for the 129,000 SF Centra Pak building as well as the new industrial park on Interstate 75 with 75 available acres.
§ AIRGeorgia Grant Award: $2,100,000 /Total Project Cost: $4,017,741
City of Sylvester – Level I Airport – Runway Extension
AIRGeorgia grant funds will be used to assist with improvements to the Sylvester Municipal Airport in Worth County including the extension of its runway from 3,293 feet to 5,000 feet and reconstruction of the existing runway to correct a line of sight safety issue. Funds will also be used to install medium Intensity Runway lights and airfield Guidance Signs. The County is the third largest producer of cotton in Georgia, ranks tenth in vegetable production and is the second leading peanut producing county in the state. The Sylvester Municipal Airport is located approximately three miles west of Sylvester and facilitates approximately 4,000 takeoffs/landings per year. Three airplanes are based at the airport, even though 11 are owned by County residents. The proposed improvements are needed to support local industries that are current or potential airport users and to promote economic development. A fixed base operator will locate at the airport, provide a variety of aviation related services and result in the creation of three jobs.
§ AIRGeorgia Grant Award: $2,000,000 //Total Project Cost: $3,370,362
Governor Perdue and the board recognized the most recent recipients of technology grants from the BRIDGE (Broadband Rural Initiative to Develop Georgia’s Economy) Fund. The BRIDGE fund program is designed to support the build-out of broadband infrastructure in Georgia’s more rural areas. Today’s two BRIDGE awards of $573,110 are leveraged against more than $1 million in total project costs.
Central Savannah River Unified Development Authority
BRIDGE grant funds of $173,100 will be used to assist with the cost of a feasibility study and technical needs assessment to determine the economic benefits and cost of providing broadband access to underserved and unserved areas within the CSRA including Burke, Hancock, Glascock, Jefferson, Jenkins, Richmond, Taliaferro and Washington counties, part of a 12-county region that all contributed financially to this project. The ARRA application was submitted and denied. Despite denial, the plan lays the groundwork for creating a viable regional network and the process enabled neighboring communities to have meaningful dialogue regarding revenue sharing and infrastructure development. The Authority plans to use the assessment to pursue other funding sources such as Homeland Security grants and USDA's Telehealth program. The project sets the stage for the enhancement of the regional workforce through education.
§ BRIDGE Grant Award: $173,110 /Total Project Cost: $340,000
South Georgia Regional Information Technology Authority
BRIDGE grant funds of $400,000 will be used to assist with the extension of the South Georgia Regional Information Technology Authority’s (SGRITA) existing broadband network to include Seminole and Terrell Counties. SGRITA’s existing network includes Baker, Calhoun, Early, Miller and Mitchell Counties. BRIDGE funds will be used for the purchase and installation of infrastructure equipment for interconnection and extension of the network. SGRITA has received a $13.3 million grant/loan award from USDA to build a 166 mile next-generation fiber backhaul network and to extend last mile fixed and mobile wireless throughout the nearly 2,000 square mile region. SGRITA currently has 7 high-tech jobs and proposes to crate an additional 4 high-tech jobs with this two-county extension.
§ BRIDGE Grant Award: $400,000 /Total Project Cost: $746,200
§ Total Jobs: 11
The board reviewed the latest ESB Loan Guarantee Fund recipients. The Entrepreneur-Small Business Loan Guarantee Program was created to support the growth of entrepreneurs and small businesses in less developed areas. The ESB Loan Guarantee Program is the Authority’s first public-private partnership, providing a shared risk with Georgia lending institutions for loans ranging from $35,000 to $250,000.
P.M. Equipment, LLC / Morris State Bank (Dublin)
P.M. Equipment, LLC is a start-up company located in Wrightsville. The company places roll-off containers with industrial and municipal customers from whom they purchase scrap metal for resale. The loan proceeds will be used to purchase a roll-off truck, roll-off containers and equipment.
§ ESB Loan Guarantee Amount: $23,175/Total Loan Amount: $46,350/Borrower’s Equity: $5,151
§ Current jobs: 0 / Proposed new jobs to be created: 5
Mid-State Pools & Spas, Inc. / Farmers State Bank (Dublin)
Mid-State Pools & Spas, Inc. is an existing business located in Dublin. This company has been in business for 22 years and specializes in installing swimming pools and spas. They also sell pool chemicals, patio furniture and above ground pools.
§ ESB Loan Guarantee Amount: $101,250/Total Loan Amount: $225,000/Borrower’s Equity: $22,500
§ Current jobs: 12 / Proposed new jobs to be created: 1
South Pit BBQ, LLC / United National Bank (Cairo)
South Pit BBQ, LLC is a mobile catering service. Keith Moye, owner, decided after learning the business to purchase and expand the company. South Pit BBQ can provide catering services for banquets, fundraisers, reunions and even tailgates. The loan proceeds will be used to purchase the business and additional cookers.
§ ESB Loan Guarantee Amount: $25,000/Total Loan Amount: $50,000/Borrower’s Equity: $81,600
§ Current jobs: 2 / Proposed new jobs to be created: 2
STAR Fitness, LLC / Irwin County State Bank (Ocilla)
STAR Fitness is a start-up professional co-ed fitness center with state-of-the-art cardio and strength training equipment opening in Ocilla by Jeff and Sheri Rhodes. The gym will offer tanning services, optional free-weight workouts, aerobics and other fitness classes. The loan proceeds will be used for reconstruction of an existing building to meet franchise requirements and to purchase equipment, security system, tanning beds and office furniture.
§ ESB Loan Guarantee Amount: $65,000/Total Loan Amount: $130,000/Borrower’s Equity: $102,060
§ Current jobs: 2 / Proposed new jobs to be created: 5
Peace, Love and Scrubz/ United National Bank (Cairo)
Peace, Love and Scrubz is a retail business selling medical scrubs to doctors’ offices and hospitals in Cairo. Sherri Kennedy began working at a retail scrub store in May 2009 as a part time employee and advanced to manager. She recognized her opportunity when the current owners decided to sell the storefront. The business currently sells to local doctors’ offices as well as hospitals. An internet site is being created and will allow the business to reach out to other hospitals in the surrounding area. The loan funds will be used to purchase the store front portion of the business along with inventory.
§ ESB Loan Guarantee Amount: $35,000/Total Loan Amount: $70,000/Borrower’s Equity: $76,000
§ Current jobs: 2 / Proposed new jobs to be created: 2
The OneGeorgia Authority was created utilizing one-third of the state’s tobacco settlement to assist the state’s most economically challenged areas. The OneGeorgia Authority is expected to receive about $1.6 billion over the 25-year term of the settlement. From the Authority’s inception to-date, OneGeorgia has made 506 awards totaling $299 million leveraged against total project investment of $6.9 billion, a return on investment of 23:1. Impacting 136 economically-depressed counties, 51,865 jobs have been retained and created.