When it comes to selecting a location for establishing a new business operation or expanding an existing one, understanding the full range of economic development incentives available can be a gamechanger. Since many of these incentives are negotiable, timing is critical, and the opportunity to claim such incentives may be lost if the business waits too long to begin the incentives negotiation process.
Bennett Thrasher recently helped negotiate an economic development incentives package worth over $30 million for Brazil-based Guidoni Group, one of the world’s leading producers and exporters of ornamental stones, as the company prepared to open its North American headquarters in McCrae-Helena, Georgia.
As Georgia Governor Brian Kemp announced in November 2019, Guidoni will build a manufacturing facility in McRae-Helena in Telfair County – a community that took an economic hit in early 2019 when the largest employer in the area, Husqvarna, closed its local plant.
Not long after Husqvarna closed its doors, Guidoni Group announced plans to open a Telfair County facility, creating 455 jobs and investing $96 million in the project. Prior to finalizing the deal, Guidoni consulted with Bennett Thrasher to explore available economic development incentive opportunities. As a result of negotiation efforts, the state provided Guidoni with $30 million in incentives to open the McRae-Helena facility. The deal has been recognized as a huge win for the Telfair County area, the state of Georgia and Guidoni Group. Construction is set to begin in mid-2020.
If you’re considering relocating or opening a new site for your business, consult Bennett Thrasher early in the process for support exploring all economic development incentive options.