COVINGTON -- The SKC expansion in Covington is getting a $350,000 boost from the OneGeorgia Authority.
Gov. Nathan Deal announced this week that the Newton County Industrial Development Authority has received an Economic Development Growth and Expansion award for the industry expansion.
The $350,000 will go to the Industrial Development Authority to purchase machinery and equipment for the SKC expansion, according to Brian Williamson, assistant commissioner with the Georgia Department of Community Affairs.
SKC is planning a new 200,000-square-foot facility to be constructed at the existing Covington site off Hazelbrand Road. The facility will produce plastic film components for the solar panel industry and other products and will be constructed in two phases. The project represents a $100 million investment and will create 120 new jobs and allow for retention of 250 jobs, according to a press release from OneGeorgia.
To qualify for the award, there must be competition for a project in another state. The competition for the SKC project is listed as Texas by OneGeorgia.
"Job creation is my No. 1 priority," Deal said. "In these tough times, investment in the private sector and development of Georgia's infrastructure are key to revitalizing our economy. I look forward to the growth these grants will help provide, particularly in our hardest-hit communities."
Nine EDGE awards totaling $2.5 million are being leveraged against approximately $310 million in total project costs. A total of $8 million in grants and loans are being handed out to assist economic development projects in rural Georgia aimed at creating jobs, stimulating private investment, supporting and retaining existing jobs and enhancing regional competitiveness.
The OneGeorgia Authority was created with one-third of the state's tobacco settlement to assist Georgia's most economically challenged areas. The authority is expected to receive approximately $1.6 billion over the 25-year term of the settlement. Thus far, the authority has given 525 awards totaling more than $306 million, leveraged against a total project investment of $7.3 billion and impacting 139 counties.