Cherokee County has approved a $21,437 break on impact fees for a new Adidas “Speedfactory” that is projected to generate 160 net new jobs over five years.
The Board of Commissioners granted the request by the Cherokee Office of Economic Development that Adidas be granted a 50 percent reduction of impact fees totaling $42,874 for fire and police protection, roads and other public costs.
The Adidas/Oeschler Manufacturing Facility represents a capital investment of $32.5 million, according to county officials. The highly automated, 74,357-square-foot plant will open in the Cherokee 75 Corporate Park along Ga. 92 near Acworth and is expected to produce 50,000 shoes a year.
The AJC previously reported that Adidas has been granted a 10-year local property tax abatement. Its plant is in an Opportunity Zone and is eligible for state job tax credits of $3,500 per new job for five years, or $2.8 million total if it creates 160 jobs.
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