Home Depot seeks tax break for more than $100M project in Cobb County
Home Depot is seeking a tax break for a more than $100 million project that would expand its Vinings headquarters and improve its other office properties in the area.
The Development Authority of Cobb County is expected to hear the request at a Tuesday meeting but did not disclose the estimated property tax savings that the home improvement retailer is seeking.
Home Depot’s project is expected to create 250 full-time jobs and “enable the company to support growth initiatives and a return-to-work program that will accommodate several thousand people returning to Cobb County facilities,” according to a document from the development authority.
Home Depot confirmed some details of the project and that it was seeking a tax abatement but declined to comment further.
Nelson Geter, the authority’s executive director, said in an email that the estimated tax savings “cannot be determined” until after an inducement resolution and fiscal impact analysis are completed and approved. At the Tuesday meeting, the agency is expected to consider whether to issue revenue bonds worth up to $140 million for the project.
Other agencies such as Invest Atlanta and the Development Authority of Fulton County typically disclose the estimated value of incentive awards to companies.
At its corporate headquarters, Home Depot said it plans to expand its child care center called Little Apron Academy and add a parking deck. The headquarters is located at 2455 Paces Ferry Rd.
Home Depot also said it plans improvements at other office properties it owns in the area. That includes 2410 Paces Ferry Rd., which has one office building, and 2600 Cumberland Pkwy., a property with three office buildings. Home Depot did not offer details on the improvements.
The Cobb County Board of Commissioners approved the headquarters expansion and other improvements at a June meeting, according to the Marietta Daily Journal. The Little Apron expansion will add about 50,000 square feet and the parking deck would add almost 1,000 spaces, according to plans submitted to Cobb County.
The project comes as earlier this year Home Depot rolled out a new policy that required some employees to come to the office four days a week, a mandate that was expected to start in June, The Atlanta Journal-Constitution previously reported.
Home Depot has more than 475,000 employees but previously said only a fraction work in an office. Most of its workers are employed at its more than 2,300 stores or other facilities.
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