The manufacturer behind “Project Sasquatch” remains shrouded in mystery amid south Fulton County shrubbery, but the blurry picture may soon come into focus.
The Development Authority of Fulton County on Tuesday unanimously voted to give preliminary approval to a $9.3 million tax break for Project Sasquatch. The project is a $250 million manufacturing expansion to an existing facility in south Fulton, but the company’s specifics are concealed behind a nondisclosure agreement.
The south Fulton site is among several across the country the company is evaluating for expansion. DAFC leaders told The Atlanta Journal-Constitution the tax incentive is needed to be competitive in wooing the extra corporate investment and jobs.
Samir Abdullahi, director of workforce development initiative Select Fulton, told the DAFC board that Tuesday’s vote is nonbinding and relies on a future vote to finalize the incentive. More information on Project Sasquatch will be revealed at that time, assuming the company chooses Fulton for its expansion location.
“At that time in final bond resolution, we would reveal the company’s name, the location, and additional information around the investment and job figures,” Abdullahi said. “(Today’s vote) simply authorizes our bond counsels on both sides to advance discussions and documentation so that we’d come back with a final discussion and evaluation of the merits of the project.”
The company behind Project Sasquatch is described in a DAFC fact sheet as “A global leader in the manufacturing industry, known for its durable and energy-efficient solutions for commercial and residential building products.” The manufacturer for decades has operated a facility in the south Fulton region, currently employing 245 workers.
The proposed expansion would add up to 50 additional jobs and increase production at the company’s existing facility by at least 35%. The project is supported by Select Fulton and the Georgia Department of Economic Development, which said negotiations over other discretionary incentives remain active.
The undisclosed manufacturer was represented Tuesday by attorney Caroline Loftin, who said a decision by the company will come in the next few months.
“Your decision today is critical to the path moving forward, but (a decision by the company) would be quick,” she told DAFC ahead of the vote.
Tax incentive agreements at the county level typically require two votes: a preliminary and final bond resolution.
Usually, the final vote is perfunctory given the result of the preliminary vote. But that may not be the case for Project Sasquatch and other proposals shielded by nondisclosure agreements since new information will be revealed ahead of the final vote.
DAFC board member David Belle Isle, a former mayor of Alpharetta, shared his hesitation when casting a vote to move the incentive forward.
“I think it’s worth moving to that next step, but I’m not 100% certain on this item,” he said, questioning what he called a small number of new jobs for such a large project and tax abatement.
Project Sasquatch is projected to generate nearly $26.4 million in new property taxes over the next decade despite the abatement, which ramps down over a 10-year period. DAFC said those projections include the company’s existing facility alongside the proposed expansion.
There was no public comment submitted during Tuesday’s meeting.
DAFC, which is also known as Develop Fulton, also welcomed a new board member, former Georgia State Treasurer Lynne Riley, who replaced former Johns Creek Mayor Mike Bodker. Restaurateur Pinky Cole Hayes, known for the Slutty Vegan chain, was also reappointed to the board.
About the Author
Keep Reading
The Latest
Featured
