Australian Company Eden Gets $25M Augusta, Georgia Incentives For EdenCrete Manufacturing Project

EdenCrete Industries Inc. (ECI) has announced the selection of the Augusta Corporate Park in Augusta, GA as the location for a large-scale production facility and global manufacturing headquarters.

EdenCrete

EdenCrete (photo – Augusta EDA)

Supported by a package of state and local incentives totaling nearly $25 million, the company will invest $67 million to construct the plant. ECI expects to create 251 new jobs for Augusta and Richmond County.

The first phase, planned to be completed in four stages over the next seven years, has a planned annual production capacity of 50 million gallons of EdenCrete concrete admixture. The site has sufficient area to accommodate a further nine similar phases as demand grows.

EdenCrete Industries Inc. is a wholly owned subsidiary of Perth, Australia-based Eden Energy Limited (ASX:EDE). ECI has been established to manufacture and market EdenCrete, Eden’s proprietary carbon nanotube enriched concrete admixture that significantly improves many of the performance characteristics of concrete.

In a statement announcing the project for Augusta and Georgia, Governor Nathan Deal said that “When global manufacturing companies like EdenCrete Industries Inc. choose to locate to Georgia, it is a testament to the international reputation of our top-ranked business climate.”

Greg Solomon, chairman of Eden Energy, added that they selected Georgia, and in particular Augusta, to establish their global manufacturing base, not only because of the government’s support for industry and Georgia’s highly efficient transport access to both the North American and international export markets, but also, because of “the warmth of its people, the quality of its workforce and the attractive standard of living and opportunities that it offers our future employees.”

Augusta Mayor Hardie Davis said in the release that “Augusta-Richmond County welcomes ECI to our continually growing business community.” The Mayor added that their innovative products and process is exactly the kind of company that finds the perfect location in Augusta.

Augusta Economic Development Authority (AEDA) Chairman Henry Ingram likewise noted that “ECI combines a long-time manufacturing process with new age technology innovations, and we are proud to welcome them to the Augusta Corporate Park.”

AEDA worked on this project in partnership with the Georgia Department of Economic Development (GDEcD), GDOT, the Augusta-Richmond County Commission, City of Augusta, Augusta Utilities, and Cranston Engineering Group, P.C.

The company is getting a generous financial assistance and incentives package estimated to be worth up to $24.76 million over the next 20 years. This includes $11.59 million from the State of Georgia and another $13.17 million to be provided by local entities, as follows:

– A grant of 112 acres of industrial land in the Augusta Industrial Park worth $2.8 million, with an option over a further 31.5 acres;

– Approximately $5.8 million in property tax breaks over 20 years through the AEDA Industrial Revenue Bond program;

– $2.5 million from the AEDA for road improvements, along with $100,000 towards site preparation costs, and $400,000 for securing rail access to the site;

– $500,000 from GDEcD towards the cost of establishing the road, and for training and hiring assistance; and

– $1.57 million from Augusta Utilities to install water and waste water lines to site.

The company will also get various other state and local tax benefits including state job tax credits; county property tax exemptions; inventory tax, and freeport exemptions; and state sales and use tax exemptions.

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