The estimated economic impact is $2.75 million during the 10-year incentive period.
A German-based business that makes and sells elevators, thyssenkrupp is relocating its headquarters and emerging technologies business of thyssenkrupp Elevators Americas to Cobb.
An approximately $130 million, 290,000 square-foot office building will be constructed by BRED (Braves Development Company).
By early 2022, a $101 million, 420-foot-tall, state-of-the-art elevator qualification-and-test tower is expected to be completed - the tallest of its kind in the U.S. and one of the tallest in the world.
With 18 shafts, the Innovation complex test tower will be used to test new concepts and product pilots, including high-speed elevators, the two-cabins-per-shaft elevator system, TWIN, and the world’s first ropeless and sideways-moving elevator system, MULTI - the company’s third test tower along with those in Germany and China, according to a thyssenkrupp news release.
Part of the office building will be leased to thyssenkrupp for use as its corporate headquarters with construction to be completed by early 2022.
Also, thyssenkrupp will pay $16.4 million to buy furniture, fixtures and equipment for the office building and elevator tower.