Grant & Loan Awards: Stephens County
Stephens County
Equity Fund: $121,060
Awarded: 09/08/2004
Applicant: Stephens County Development Authority
Description:
Equity funds to assist with the construction of a rail spur in the Meadowbrook Industrial Park. The publicly-owned rail spur is expected to increase the marketability of the park as well as support the retention of Gem Industries, Inc. With the addition of a rail spur to support the high volume of raw material, finished good shipments and the penetration of new markets, the company plans to create 22 new jobs above the 124 existing jobs and make an additional private investment of $6.45 million. The rails spur and company expansions are both viewed as important opportunities to further diversify an economy that has historically been textile-dependent.
Total Budgeted Project Cost: $6,833,940