It makes sense for the state and local development authorities to buy the property because it will keep the land out of the hands of private investors, said John Gornall, an economic-development attorney at Arnall Golden Gregory. The state’s ownership will make it easier to recruit a new business.
“Private developers have investors who expect to earn a profit,” said Gornall, who’s not involved in the deal. “The state wants to create new jobs and doesn’t need to turn a profit.”
The Bryan County megasite is large enough to compete for a factory planned by Ford and SK Battery America to make batteries for electric vehicles. Dong Seob Jee, head of the battery business at South Korean company SK Innovation, said last week that Georgia is one of the finalist states for the project.
The Bryan County property is about 20 miles west of another megasite in Pooler where the Amazon distribution center will be located. Mitsubishi opened a facility at the Pooler site, but some of the property remains undeveloped.