After several revisions and approvals from involved parties, including the Cartersville-Bartow County Joint Development Authority, an economic development agreement was approved Monday by Taylor. The most recent additions, approved by the JDA last month, included agreements on the location and creation of an entrance road for the voestalpine Stamptec first-phase facility. The Stamptec division of voestalpine, engaged in the production of stamped metal automotive parts, currently is preparing land at the publicly owned Highland 75 industrial park on Cass-White Road for a $62 million facility to employ 220 people with an option to purchase more acreage in expectation of future expansions.
“Voestalpine is moving dirt today,” Taylor said. “They’re finishing up the first grading for the first phase, and we think maybe this week or next week that will be finished and you should start seeing some concrete poured in the next couple of weeks. So they are moving rapid out there, as we speak, and we look forward to voestalpine to start their second and third phases soon after this one.”
Taylor explained the economic development agreement, approved Monday, as a collection of the previously approved agreements into one formal document, which will ideally serve as the final agreement between the county, voestalpine and the JDA — serving as the bond issuer.
“It’s very important that we finally wrap this up with voestalpine and it’s important that we got our first corporate partner in our industrial park — the first partner in our industrial park of many,” Taylor said. “There’s a lot of interest, especially in the last three to four months.
“We’re excited about the many companies that could soon be joining our Austrian partners out there.”
JDA Attorney David Archer described the document as a typical agreement in the economic development process formalizing terms agreed upon across a number of stakeholders.
“It’s a standard document that has to be signed for the completion of the bond issuance,” Archer said. “This is with regards to the proposed bond issue for voestalpine and this particular agreement will be issued by the development authority, the tax commissioner, voestalpine and the county, and the board of tax assessors. It simply describes what the transaction is from an economic standpoint.”