A company that specializes in recycling high-grade aluminum for the automotive industry is opening a plant in Manchester, Ga.
G&S Metal Consultants, Wabash, Ind., announced plans to open a plant in a 50,000-square-foot speculative building in the Manchester Industrial Park employing 55 people the first year and 75 the second year.
The company plans to bring in four top management personnel and will employ several clerical workers, six to eight truck drivers and some 35 workers to operate the furnace that melts aluminum into ingots as small as 27 pounds, and larger sows weighing up to 1,500 pounds to be transported back to industries.
Manchester was one of 14 cities initially considered by the company, which narrowed its choices in early May to Manchester and a city in Tennessee, according to Tyron Elliott, attorney for the Manchester Development Authority, which owns the spec building that has been vacant since it was built four years ago.
"They are eager to go to work," Elliott said. "They hope to start up in January. Their commitment is dependent on our coming through with grants and/or low-interest loans."
The company, established in 1995, plans to put about $7 million into the project, including some $5 million to be raised in industrial revenue bonds. The bonds will be issued through the authority and the company's bank in Indiana, Elliott said.
Major customers for G&S include Alcoa and automotive producers Ford, Honda and Toyota.
"They are the exclusive supplier of high-grade, recycled aluminum for Toyota," Elliott said. "They wanted to be in the Southeast."
Grants, incentives
The authority has about $500,000 invested in the building and land, and plans to seek a $250,000-$300,000 state grant to buy 18-20 acres across the street from the building from the Callaway Foundation Inc. of LaGrange, and to clear, grade and complete the site to park company trucks and other vehicles. The company needs property to park 100 trailers at a time, Elliott said.
The company will receive a number of state and local incentives. Because Meriwether County is a Tier 1 county, a company that creates jobs in the county receives state tax credits for each job created. The state program provides $3,500 a year in tax credits for up to five years. Because the county also is involved with multiple authorities -- Manchester Development Authority and a member of the Valley Partnership based in Columbus -- the company is entitled to another $500 state tax credit per job created, Elliott said.
The authority also received a loan through the One Georgia Authority to build the spec building at no interest for five years. But once the building is occupied, the authority can refinance the loan at a lower interest, Elliott said. He said Manchester also will apply for a grant for its revolving loan. That money, plus some already in the fund, can be loaned to other industries, with the companies paying back the city so the money can be used by other industries. Columbus (Georgia) Ledger-Enquirer