JAMES Magazine Online: Economic Development Wins Piling Up for Augusta
Thursday, May 9th, 2024
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Within the last month, the Georgia Department of Economic Development has been bringing home the bacon for Augusta. Three different projects have either been announced or started production, totaling more than 500 new jobs (many of the high-paying variety) and more than $200 million in new investment. Two of the three projects are electric vehicle related, as Georgia continues racking up wins in the developing industry – despite the hiccup from the Rivian deal in Morgan and Walton counties.
The most recent was from GF Casting Solutions, a Switzerland-based manufacturer that makes lightweight components for the mobility and energy industries. The deal is creating 350 new jobs to create parts from aluminum, magnesium, iron and other metals for their eventual homes in cars, trucks, airplanes and other industrial applications.
“Georgia is proud to carry the title of the No. 1 state for business to companies across the globe, bringing opportunities to communities in every corner of the state,” said Governor Brian Kemp. “Having met the great team at GF Casting Solutions during our recent mission to Switzerland, we could not be more excited to welcome them to the Peach State. Congratulations to Augusta and Richmond County for securing these jobs of the future for Georgians.”
The announcement from GF Casting comes just a couple weeks after Syensqo, a Belgium-based manufacturer with U.S. headquarters in Alpharetta, announced the start of construction on their PVDF – polyvinylidene fluoride, a key component of electric vehicle batteries – manufacturing facility in Augusta. Syensqo has already been working in Augusta for more than twenty years but the new plant is a major expansion with an eye on the electric vehicle market.
“I am truly excited to see the second, large European investment in the Augusta Corporate Park,” said Augusta Mayor Garnett Johnson. “The City and the Development Authority have worked to make this a premier industrial park in the Southeast United States with our investment in water, sewer, roads, and growing our workforce. We truly appreciate the partners we have and look forward to a long and prosperous location by GF over the coming years.”
Amid all this electric vehicle news is a little undercurrent of political tension, as Republicans – such as U.S. Rep. Andrew Clyde, R-GA, covered by James Online here – question some of the push for electric vehicles and the related incentives. However, the economic development wins in jobs and new investment is undeniable. Not going after these plants and jobs would just be handing them to someone else. Since 2018, investment in Georgia’s e-mobility industry has totaled more than $27 billion. However, some $5 billion of that is the Rivian deal which remains a little up in the air – Rivian has said repeatedly they are still dedicated to moving forward with the plan. It would be bad for business for them to admit they were not sure if they were moving forward with it. Even without that however, $22 billion comes from numerous other sources.
Read more about Georgia’s electric vehicle industry here